华泰联合证券有限责任公司 关于国旅文化投资集团股份有限公司 本次交易摊薄即期回报影响的情况及采取填补回报措施之 专项核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"、"本公司"）接受 国旅文化投资集团股份有限公司（以下简称"国旅联合"、"上市公司"）委托， 担任本次发行股份及支付现金购买江西润田实业股份有限公司（以下简称"标的 公司"）100%股份并募集配套资金暨关联交易（以下简称"本次重组"）的独立 财务顾问，根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保 护工作的意见》（国办发〔2013〕110 号）、《国务院关于进一步促进资本市场健 康发展的若干意见》 本次重组完成后，为降低上市公司即期回报未来被摊薄的风险，上市公司将 继续完善公司治理结构，健全内部控制体系，优化内部管理，提升公司的盈利能 力，并积极采取相关措施努力提升每股收益，保护中小股东权益。上市公司拟采 取以下具体措施，以降低本次重组可能摊薄公司即期回报的影响： （一）加快完成对标的公司的整合，尽快实现标的公司的预期效益 本次重组完成后，上市公司将加快对标的公司的整合，充分调动标的公司各 方面资源，及时、高效完成标的公司 ...

中信证券股份有限公司 关于重庆新铝时代科技股份有限公司 本次交易摊薄即期回报情况及填补措施与相关承诺的核查意见 重庆新铝时代科技股份有限公司（以下简称 "上市公司"）拟发行股份及 支付现金购买陈旺等19名交易对方合计持有的东莞市宏联电子有限公司（以下 简称"标的公司"）100%股权（以下简称"标的资产"）并募集配套资金（以 下简称 "本次交易"）。 根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保护工作 的意见》（国办发[2013]110号）、《关于加强监管防范风险推动资本市场高质 量发展的若干意见》（国发[2024]10号）以及《关于首发及再融资、重大资产重 组摊薄即期回报有关事项的指导意见》（中国证券监督管理委员会公告[2015]31 号）等相关规定，中信证券股份有限公司（以下简称"中信证券"、"独立财务 顾问"）作为上市公司本次交易的独立财务顾问，对新铝时代本次交易摊薄即期 回报情况及填补措施与相关承诺进行了核查，具体如下： 一、本次交易摊薄即期回报对上市公司每股收益的影响 根据上市公司备考审阅报告，本次收购完成前后（不考虑募集配套资金）， 上市公司每股收益如下： | 项目 | | 交易后（ ...

Core Viewpoint - The company plans to issue shares and pay cash to acquire all shares of Hangzhou Bicheng Digital Technology Co., Ltd., while also raising supporting funds, which may dilute the immediate returns for investors [1][5]. Financial Impact Analysis - Total assets before the transaction: 360,177.67 million; after the transaction (pro forma): 584,826.15 million, representing a 62.37% increase [2]. - Total liabilities before the transaction: 181,329.43 million; after the transaction (pro forma): 313,712.29 million, representing a 73.01% increase [2]. - Operating income before the transaction: 119,717.62 million; after the transaction (pro forma): 163,950.46 million, representing a 36.95% increase [2]. - Net profit before the transaction: 147.11 million; after the transaction (pro forma): 2,075.68 million, representing a 1,310.96% increase [2]. - Basic earnings per share before the transaction: -0.01; after the transaction (pro forma): 0.01, representing a 200.00% increase [2]. Measures to Mitigate Dilution - The company will enhance operational management and internal controls to improve efficiency [3]. - Effective integration of the target company will be pursued to leverage synergies and enhance profitability [3]. - The company will refine its profit distribution policy to strengthen investor return mechanisms [3]. Commitments from Stakeholders - The controlling shareholder and actual controller have made irrevocable commitments to ensure the fulfillment of measures to compensate for potential dilution of returns [4]. - The board of directors and senior management have also committed to ensuring the execution of these measures [4]. Independent Financial Advisor's Opinion - The independent financial advisor believes that the company's analysis regarding the potential dilution of immediate returns is reasonable and that the proposed measures to mitigate this dilution comply with relevant regulations aimed at protecting the rights of minority investors [5][6][7].

江苏综艺股份有限公司董事会 关于公司本次重大资产购买摊薄即期回报情况 及填补措施的说明 江苏综艺股份有限公司（以下简称"公司"或"上市公司"）拟通过现金增 资以及表决权委托方式取得江苏吉莱微电子股份有限公司（以下简称"吉莱微" 或"标的公司"）控制权（以下简称"本次交易"）。根据《上市公司重大资产重 组管理办法》相关规定，本次交易构成重大资产重组。 根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保护工 作的意见》 （国办发[2013]110 号）、 《国务院关于进一步促进资本市场健康发展的 若干意见》（国发[2014]17 号）和中国证券监督管理委员会（以下简称中国证监 会） 《关于首发及再融资、重大资产重组摊薄即期回报有关事项的指导意见》 （证 监会公告[2015]31 号）等有关规定，公司董事会对本次交易对上市公司即期回报 的影响情况、采取的填补措施及承诺事项说明如下： 一、本次交易对公司主要财务指标的影响 项目 本次交易后 本次交易后 本次交易前 变动率 本次交易 前 变动率 （备考数据） （备考数据） 资产总额 542,061.70 608,808.37 12.31% 543,804.72 ...

Core Viewpoint - The transaction involving Lionhead Technology Development Co., Ltd. aims to acquire a 97.4399% stake in Hangzhou Lipo Technology Co., Ltd. through a combination of share issuance and cash payment, with measures in place to mitigate the dilution of immediate returns for shareholders [1][4]. Summary by Sections Impact on Earnings Per Share - Following the transaction, the basic and diluted earnings per share (EPS) are projected to increase from 0.00 yuan/share to 0.01 yuan/share, reflecting an increase of 88.95% [2][4]. Measures to Mitigate Dilution Risk - The company plans to enhance its governance structure and risk management capabilities to improve operational efficiency post-transaction [3][4]. - A commitment to optimize profit distribution policies and investment return mechanisms will be made to protect shareholder interests [3][4]. - The company has established performance commitments and corresponding compensation arrangements with the transaction parties to further mitigate the risk of immediate return dilution [3][4]. Commitments from Major Stakeholders - The controlling shareholders and management have made commitments to not interfere with the company's operations or infringe on its interests, ensuring adherence to new regulatory requirements as they arise [4]. - The board and senior management have pledged to avoid unfair benefit transfers and to align their performance with the execution of return compensation measures [4]. Independent Financial Advisor's Opinion - The independent financial advisor has confirmed that the transaction will enhance the company's earnings per share and that the proposed measures to prevent dilution are in compliance with relevant regulations aimed at protecting minority investors [4].

Core Viewpoint - The transaction involving Xinjiang Baodi Mining Co., Ltd. is expected to dilute immediate returns but is justified by the long-term benefits of increased iron ore reserves and enhanced operational capabilities [1][2][3]. Group 1: Impact on Immediate Returns - The basic and diluted earnings per share (EPS) are projected to decrease by 33.33% post-transaction, with pre-transaction EPS at 0.03 and post-transaction EPS at 0.02 [1]. - In 2024, the company's EPS is expected to increase post-transaction, while in the first quarter of 2025, it may experience a dilution compared to pre-transaction levels [1]. Group 2: Necessity and Rationality of the Transaction - The transaction will increase the company's total iron ore resources from 3.8 billion tons to approximately 4.6 billion tons, representing a 21.75% increase [2]. - The acquisition will enhance the company's operational footprint in Xinjiang, particularly in the Kashgar and Kizilsu regions, thereby strengthening its market influence [2]. - The transaction aligns with the company's core business of iron ore mining and processing, enhancing its competitive edge in the market [3]. Group 3: Measures to Mitigate Dilution of Immediate Returns - The company plans to expedite the integration of the acquired entity to realize expected benefits quickly [3]. - There will be an emphasis on improving corporate governance and operational efficiency to enhance overall performance [4]. - The company will refine its profit distribution policy to ensure fair returns to all shareholders while maintaining sustainable growth [4]. - Commitments from directors and major shareholders have been made to ensure measures are in place to mitigate the dilution of immediate returns [5]. Group 4: Independent Financial Advisor's Opinion - The independent financial advisor has deemed the company's expectations regarding the dilution of immediate returns to be reasonable and in compliance with relevant regulations aimed at protecting minority investors [6].