Core Viewpoint - Black Mudan announced the sale of part of its digital economy industrial park assets to an affiliated company for 41.9734 million yuan, which constitutes a related party transaction but does not qualify as a major asset restructuring [1][2]. Group 1: Transaction Details - The assets sold include certain properties and engineering works related to the Black Mudan Changzhou Digital Economy Industrial Park, with a total sale price of 41.9734 million yuan, comprising 38.8734 million yuan for the factory and 3.1 million yuan for electrical expansion and fire safety modifications [1][2]. - The transaction was approved by the company's independent directors and board of directors, and does not require shareholder approval [1][2]. Group 2: Asset Valuation - The sold assets have a reported market value of 38.8311 million yuan, reflecting an increase of 1.76968 million yuan from the book value of 21.1343 million yuan, resulting in an appreciation rate of 84% [2]. - The increase in value is attributed to the market value including VAT and reasonable profit, while the book value reflects the cost of property development [2]. Group 3: Financial Condition of Buyer - The buyer, Changgao New Industrial Park, is a wholly-owned subsidiary of Black Mudan's controlling shareholder and has reported continuous losses, with a net profit of -354.76 million yuan in 2024 and -1778.48 million yuan in the first three quarters of the current year [3]. - As of September 30, 2025, the buyer's total assets were approximately 462 million yuan, while total liabilities reached about 478 million yuan, resulting in a negative net asset of -15.3325 million yuan [3]. Group 4: Payment Terms and Strategic Implications - The buyer is allowed to pay only 5% of the total price upfront, with the remaining amount deferred until October 30, 2026 [4]. - Black Mudan stated that the transaction aligns with its strategic development and operational management needs, optimizing asset structure and reducing operational costs, thus benefiting the company and its shareholders [4].

Core Viewpoint - The company Black Peony (600510.SH) announced a transaction to support the implementation of investment attraction policies and meet the needs of the Changgao New Industrial Park, involving the purchase of properties developed by its wholly-owned subsidiary, Black Peony Technology Park [1] Group 1: Transaction Details - The Changgao New Industrial Park plans to purchase several buildings in the Black Peony Changzhou Digital Economy Industrial Park, including buildings 1 and 9, which consist of industrial plants and associated state-owned land use rights [1] - The total transaction price is set at 41.973429 million yuan, with the plant price accounting for 38.873429 million yuan based on an asset valuation report from Beijing Zhongqi Hua Asset Appraisal Co., Ltd [1] - The cost for electrical expansion, fire safety renovations, and public area decoration for one building is estimated at 3.1 million yuan [1]

Core Viewpoint - Heimu Dan (600510.SH) announced the acquisition of properties in Changzhou Digital Economy Industrial Park to promote investment attraction policies and accelerate the landing of quality projects [1] Group 1: Transaction Details - The total transaction price for the acquisition is 41.973429 million yuan, which includes 38.873429 million yuan for the factory buildings and 3.1 million yuan for electrical expansion, fire safety renovations, and public area decoration [1] - The factory price was determined based on an asset valuation report issued by Beijing Zhongqi Hua Asset Appraisal Co., Ltd. [1] Group 2: Project Location - The properties being acquired are located in the Changzhou New North District, specifically on the north side of Tianhe Road and the west side of Innovation Avenue [1]