On December 25, Gelonghui | Zhanpeng Technology (603488.SH) announced that the company plans to transfer the registered capital of RMB 2,8391 million from Zhuji Keshi Huaying Equity Investment Partnership held by Zhuji Keshi Huaying Equity Investment Partnership. At the same time, the company plans to increase the capital to Lingwei Military Finance by 60 million yuan to subscribe for an additional registered capital of 4.0883 million yuan. After the completion of this foreign investment, the company will hold 6.9274 million yuan of registered capital led by military finance, with a shareholding ratio of 11.17%. In this equity acquisition transaction, Leader's 100% equity valuation was 816 million yuan, compared to Junrong's net asset value of 650.04% on October 31, 2023; in this capital increase transaction, the pre-investment valuation of Leader Junrong's 100% equity was 850 million yuan, compared to Junrong's net asset increase of 681.29% on October 31, 2023. The above valuation was determined by all parties to the transaction based on Lingwei Junrong's historical valuation situation and future development expectations. The overall valuation of Leading Junrong in this share acquisition is lower than the overall valuation of Leading Junrong in this capital increase transaction. The main reason is that in this share acquisition, the counterparty Keshi Huaying obtained cash in advance through the sale of part of the shares in Lingwei Junrong, and the transaction risk was lower. The overall valuation of Junrong, the leader in this equity acquisition, is lower than the valuation of this capital increase as a result of friendly negotiations between the parties involved in the transaction, and is reasonable.
In order to ensure the safety of the company's funds, the parties to the transaction have agreed that if the acquisition of Lead Military Finance is not completed for 18 months from the date the company transferred the first investment amount into the supervisory account, the management shareholders of Leading Military Finance shall repurchase the shares of Lingwei Junfinance held by the company. The repurchase price is the capital increase and share transfer amount paid by the company (a total of RMB 10,000 million), plus interest calculated from 7% per year from the date of payment.