扫码文末"投小圈" 加入行业交流群 文章来源：成益成咨询、科盈规划设计 可行性研究报告是在开展某项经济活动（尤其是投资活动）之前，相关各方需针对经济、技术、生产、 供销等各个环节，以及社会环境、法律法规等诸多因素，展开全面、细致的调查、深入的研究与系统的 分析。通过这一系列工作，明确项目存在的有利与不利因素，判断项目是否具备可行性，同时对项目成 功的概率、可能产生的经济效益以及社会影响程度进行预估。该报告是供决策者参考以及主管机关审批 项目时所依据的重要上报文件。 01 可研报告用途及分类 1、企业融资与对外招商合作场景 在企业寻求融资或者开展对外招商合作时，所编制的可行性研究报告起着关键作用。这类报告要求对市 场进行精准分析，确保投资方案科学合理。同时，还需提供全面的竞争分析，清晰呈现市场中的竞争态 势；制定详尽的营销计划，明确产品或服务的推广策略；规划合理的管理方案，保障项目运营的高效有 序；以及阐述技术研发等实际运作方案，展现企业在技术层面的实力与规划。 2、国家发展和改革委立项场景 依据《中华人民共和国行政许可法》以及《国务院对确需保留的行政审批项目设定行政许可的决定》所 编写的可行性研究报告，是大型 ...

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Core Insights - Some banks offer more lenient loan products despite credit checks and high debt levels, providing opportunities for borrowers who may be rejected elsewhere [1][12] Group 1: Loan Products - Bank of China offers "Flexible Smart Loan" with a maximum limit of 300,000 and an annual interest rate starting at 3.1%, accommodating borrowers with multiple credit inquiries and higher debt [3] - Agricultural Bank of China's "Agricultural E-Loan" focuses on the borrower's business condition rather than strict debt requirements, as long as there are no serious delinquencies [4] - China Everbright Bank's "People's Loan" is less stringent on credit inquiries and debt ratios, primarily considering serious overdue payments [5] Group 2: Loan Application Guidelines - Banks generally require that monthly income should cover twice the monthly loan payment, indicating a basic principle for loan eligibility [7] - It is essential to select the right loan product that fits the borrower's specific situation, similar to how one would seek appropriate medical treatment [8] - Preparing necessary documentation such as salary statements, social security records, and housing fund proof can demonstrate repayment capability [9] Group 3: Timing and Strategy - Loan approvals may be more lenient at the end of the month or quarter due to performance pressures on bank staff [10] - Borrowers should be cautious of intermediaries promising loans without credit checks, as these claims are often misleading [12] - Improving personal financial conditions, such as debt restructuring and enhancing income proof, can facilitate loan approval [13][15]

Group 1: Capital Changes and Stock Repurchase - The company plans to repurchase and cancel a total of 7,086,978 restricted shares due to unmet performance targets in the second release period of its stock incentive plan, resulting in a change in total share capital from 1,509,176,043 shares to 1,502,089,065 shares and a corresponding change in registered capital from RMB 1,509,176,043 to RMB 1,502,089,065 [1][2] Group 2: Company Bylaw Amendments - The company intends to amend its bylaws to reflect changes such as the audit committee exercising the powers of the supervisory board, the addition of sections regarding the board's special committees and independent directors, and modifications to the party-building section [2] Group 3: Loan and Guarantee Proposal - The company's subsidiary in New Zealand, Allied Faxi New Zealand Food Co., Limited, plans to apply for a one-year working capital loan of RMB 50 million (or equivalent in New Zealand dollars) from either China Merchants Bank or CITIC Bank, with the company providing a guarantee for 70% of the loan [3][5] Group 4: Financial Performance of Subsidiary - The financial data for Allied Faxi New Zealand Food Co., Limited shows total assets of RMB 171.55 million and total liabilities of RMB 154.48 million for the year 2024, with a net profit of -RMB 14.47 million, indicating a decline in production and increased debt ratio due to rising raw material costs and changes in domestic market demand [5] Group 5: Change of Auditor - The company proposes to change its auditing firm from Deloitte to Tianyuanquan Accounting Firm for the 2025 fiscal year, citing the need for improved independence and objectivity after eight years with the previous auditor [6][9] Group 6: New Auditor's Qualifications - Tianyuanquan Accounting Firm, established in 1984, has a revenue of RMB 112.90 million for 2024, with RMB 85.07 million from auditing services, and has no significant legal issues in the past three years [6][7] Group 7: Audit Fee Structure - The proposed audit fee for 2025 is capped at RMB 2.6 million, with specific allocations for domestic and international financial statement audits and internal control audits [8][10]

Group 1 - The company plans to apply for a bank loan of RMB 2.1 billion by mortgaging its own assets and pledging rental income from a commercial property [2][4] - The collateral for the loan will be the commercial property located in the Baohe District of Hefei, specifically the Longchuan Chenyuan Shopping Center [2][3] - The proposal has been approved by the company's board and supervisory committee and will be submitted for shareholder approval due to the significant value of the assets involved [2][10] Group 2 - The loan is intended to support the company's operational and developmental funding needs, allowing for flexible use of capital [4] - The company emphasizes that this move aligns with the overall interests of the company and its shareholders, particularly protecting the interests of minority shareholders [4] - The asset valuation was conducted by Anhui Zhongli Public Appraisal Real Estate Asset Valuation Co., Ltd., which provided a formal appraisal report [3]

Core Viewpoint - Investment and financing play a crucial role in the operation of industrial parks, being essential for the lifecycle of enterprises from establishment to expansion [1] Group 1: Definition and Types of Investment and Financing - Investment and financing refer to the dual economic behavior where enterprises raise funds from external providers or utilize their own funds for operational activities [3] - Investment and financing can be categorized into direct financing and indirect financing based on the source and demand for funds [4] Group 2: Direct Financing - Direct financing involves enterprises directly engaging with fund providers without intermediaries, establishing a direct debt or ownership relationship [5] - Common forms of direct financing include stock financing, bond financing, private equity financing, and crowdfunding [5] Group 3: Indirect Financing - Indirect financing relies on financial intermediaries to facilitate fund circulation, with banks being the most typical example [6] - Other forms of indirect financing include trust loans, financing leases, and loans from microfinance companies [6] Group 4: Purpose and Significance of Investment and Financing - Investment and financing are vital for enterprises, providing necessary funding for survival and growth [11] - They support the implementation of business development strategies, enabling expansion and market exploration [12] - Efficient use of external resources through investment and financing can enhance capital utilization and optimize resource allocation [13] - Choosing suitable financing channels can lower costs and improve profitability [14] Group 5: Social Impact - Investment and financing activities promote the optimal allocation of social resources, directing funds to high-efficiency and promising enterprises, thus driving industrial upgrades and economic restructuring [15] Group 6: Characteristics of Different Financing Types - Corporate bonds are a form of direct financing with fixed interest rates and longer terms, but they carry higher repayment risks [17] - Equity financing involves selling shares to raise funds, which can enhance financing capacity but may dilute shareholder rights [18] - Bank loans are a common form of indirect financing, offering flexible terms but often with higher interest costs [20] - Trust financing allows enterprises to raise funds through trust companies for specific projects, characterized by flexible use of funds and lower costs [21] Group 7: Factors Influencing Financing Decisions - Enterprises must consider their own conditions, including operational scale, financial status, credit rating, and development stage when making financing decisions [23] - The cost and risk associated with different financing methods must be weighed, as direct financing is generally cheaper but riskier, while indirect financing is more controlled but costlier [23] - Market conditions and regulatory policies also significantly impact financing activities, necessitating timely adjustments to strategies [25] - The expected returns and payback periods of investment projects should align with financing activities to avoid cash flow issues [27]

Group 1 - Feasibility study reports are essential for comprehensive investigation and analysis of various factors such as policies, market demand, product plans, production scale, financial benefits, and social impacts before making investment decisions [2] - The main purposes of feasibility study reports include enterprise financing, external investment cooperation, project approval by the National Development and Reform Commission (NDRC), bank loans, and overseas investment project approvals [4][5][6] Group 2 - For enterprise financing and external investment cooperation, feasibility study reports must provide accurate market analysis, reasonable investment plans, competitive analysis, marketing plans, management schemes, and technical research and development [4] - Feasibility study reports serve as foundational documents for large infrastructure project approvals by the NDRC, which decides on project implementation based on these reports [5] - Commercial banks require detailed feasibility study reports for risk assessment before granting loans, and these reports are also necessary for applying for national policy support funds and business registration [5] Group 3 - When investing overseas, companies must prepare feasibility study reports to submit to the NDRC and relevant departments for obtaining investment approvals [6] - Different types of reports such as project proposals, project application reports, funding application reports, risk assessment reports, investment value reports, project evaluation reports, and loan application reports serve specific purposes in the investment process [7][8]

Summary of Key Points Core Viewpoint - Inner Mongolia Boyuan Chemical Co., Ltd. has completed the repurchase and cancellation of part of its restricted stock, totaling 20,437,500 shares, which represents 0.55% of the company's total share capital before the cancellation [2][15]. Group 1: Stock Repurchase Details - The number of restricted stocks repurchased and canceled is 20,437,500 shares, reducing the total shares from 3,739,176,560 to 3,718,739,060 [2][15]. - The repurchase price for the initially granted restricted stocks is 3.36 CNY per share, while the reserved portion is repurchased at 3.40 CNY per share [2][12]. - The total amount for the repurchase is 68,743,120 CNY, sourced from the company's own funds [13]. Group 2: Incentive Plan and Approval Process - The company held board meetings on September 20, 2023, and October 16, 2023, to approve the 2023 restricted stock incentive plan and related matters [3][5]. - The plan involved granting 11,856,000 shares to 230 incentive targets at a price of 3.66 CNY per share, with the shares set to be listed on December 1, 2023 [5]. - The company has a structured process for handling changes in the status of incentive targets, including provisions for repurchase in cases of resignation or retirement [9][12]. Group 3: Impact on Shareholding Structure - Following the cancellation of the restricted stocks, the holding percentage of the controlling shareholder, Inner Mongolia Boyuan Holdings Group Co., Ltd., increased from 30.88% to 31.05% without any change in the number of shares held [20]. - This change does not trigger a mandatory tender offer and does not affect the company's control or compliance with listing requirements [20][15]. Group 4: Financial and Operational Implications - The repurchase and cancellation of restricted stocks are not expected to have a significant impact on the company's financial status or operational results [18]. - The management team remains committed to fulfilling their responsibilities and creating value for shareholders [18].