Core Viewpoint - Ningbo Metallurgical Survey and Design Research Co., Ltd. is offering 4.4 million shares (5% of total equity) for transfer at a base price of 11.428375 million yuan through Beijing Property Exchange, with Shougang Group as the transferor [1] Company Overview - The company, established in the 1950s, has undergone several name changes and restructuring, currently operating as a key subsidiary of Ningbo Transportation Investment Holding Co., Ltd. [1] - Its business scope includes geotechnical engineering surveys, mapping, geophysical exploration, engineering testing, geological disaster risk assessment, and various engineering services [1] Technical Strength - The company employs nearly 400 staff, including 2 experts receiving special government allowances and 9 senior engineers, with over 75% of personnel holding mid to senior technical positions [2] - It has contributed to over 20 national, industry, and local standards and holds more than 100 national patents, showcasing its strong research and innovation capabilities [2]

Core Insights - A new individual business named "An Guo Qian Da Xing Ji Auto Parts Sales Store" has been established, with a registered capital of 30,000 RMB [1] Company Overview - The legal representative of the new business is Du Qian [1] - The business operates in various sectors including sales of smart vehicle-mounted equipment, electronic products, navigation terminals, and specialized instruments for navigation, surveying, meteorology, and oceanography [1] Business Activities - The company is involved in technical services, development, consulting, communication, transfer, and promotion, except for projects that require approval [1] - The business is authorized to operate independently based on its business license [1]

Core Viewpoint - The company plans to transfer a 40% stake in its subsidiary Hubei Jiansheng Engineering Technology Consulting Co., Ltd. through a public listing, with uncertainties regarding the buyer and transaction price, which may impact the company's financial status positively after the completion of the transaction [1][2]. Group 1: Transaction Details - The company previously attempted to transfer the same stake based on an evaluation report dated August 31, 2023, but the transaction did not succeed [2]. - The recent evaluation indicates a 31% decrease in the total equity value of Hubei Jiansheng, primarily due to the decline in the value of its properties and the net assets of its wholly-owned subsidiaries [2]. - The total asset value of Hubei Jiansheng is reported at 31.83 million, with total liabilities of 3.29 million, resulting in a net asset value of 28.54 million [2]. Group 2: Financial Impact - The evaluation report shows that the total equity value of Hubei Jiansheng is estimated at 49.99 million, reflecting a 75.15% appreciation compared to its net asset value [2]. - The company anticipates that the completion of this transaction will lead to a positive impact on its financial condition and operational results [3]. Group 3: Business Focus - The company's main business focuses on urban green development and green living public trust, enhancing its comprehensive service capabilities through technology and project services [3]. - In 2024, the company reported a revenue of 372 million, a year-on-year decrease of 11.83%, attributed to the delay in revenue recognition from newly developed businesses and a slowdown in revenue release from existing contracts [3]. - The revenue is primarily concentrated in the South and North China regions, accounting for 87.6% of the total, with urban planning, architectural design, and public trust services contributing 86.28% of the revenue [3].