宁波富邦2026年度日常关联交易预计公告深度解读

一、公告要点概述

• 关联交易总额大幅提升：2026年度日常关联交易预计总金额高达1.07亿元，远超2025年度实际发生的885.51万元，增幅显著，对于公司经营与财务状况将产生直接影响。
• 交易主要对象和构成：关联交易对象包括铝型材公司、新乐集团、新乐电器、定时器公司，涵盖产品销售、房屋租赁及财务资助利息支付等。
• 需提交股东大会审议：该议案尚需股东大会审议通过，具有不确定性，或对股价形成短期影响。
• 独立性无重大损害：公告指出本次关联交易不会损害上市公司及广大中小股东利益，交易价格公允、程序合法。

二、详细核心内容梳理

1. 日常关联交易审议与决策过程

2026年4月9日公司召开董事会审议通过相关关联交易议案，所有关联董事回避表决，未关联董事一致通过。独立董事专门会议亦确认交易合理、公允、合规，不影响公司独立性。

2. 前次和本期关联交易预计与实际对比

3. 主要关联方详细介绍

• 宁波富邦精业铝型材有限公司：2025年总资产5211万元，净资产2464万元，营业收入4491万元，净利润30.78万元。100%由富邦铝材持股。
• 宁波新乐控股集团有限公司：总资产4.03亿元，净资产3.75亿元，2025年营业收入7876万元，净利润2982万元。富邦控股持股36%，系控股子公司。
• 宁波新乐电器有限公司：总资产6.84亿元，净资产2.54亿元，2025年营收9.73亿元，净利润3535万元。新乐集团100%持股，系富邦控股控股孙公司。
• 宁波定时器有限公司：总资产5980万元，净资产3527万元，2025年营业收入3442万元，净利润-244.65万元。新乐集团持股51%。

4. 关联交易的主要内容与定价政策

• 铝铸棒销售：以市场化定价（上海长江有色网铝锭均价+物流+加工费），2026年预计不超1亿元。
• 房屋租赁：市场公允价格，面积19306平方米，年租金244.31万元。
• 产品销售：定价模式与其他客户一致（原材料价格+加工费），2026年不超500万元。
• 财务资助：新乐集团及其子公司提供，利率为LPR减40基点或同业融资利率，预计2026年支付利息不超300万元。

5. 对上市公司影响及风险提示

• 大额关联交易将显著影响公司营业收入及现金流，若未获股东大会通过或执行不及预期，可能对公司业绩产生波动。
• 关联交易公开、公允进行，不影响公司独立性，无损害公司及中小股东利益情形。
• 新增大额关联交易和财务资助事项，或引发市场对公司治理和资金链关注，存在一定的不确定性和价格敏感性。

三、投资者须知与潜在影响

• 本次公告涉及总金额大幅提升，若顺利实施，将显著提升公司营业规模和资产利用效率。
• 关联交易规模大幅增加，或引发监管层和投资者对公司治理结构、独立性及相关交易公允性的进一步关注。
• 股东大会审议结果具有不确定性，建议投资者密切关注后续进展，注意投资风险。

免责声明

本文仅为基于公司公告的分析解读，不构成任何投资建议。股市有风险，投资需谨慎。请投资者以公司正式公告及股东大会决议为准。

English Version

In-depth Analysis: Ningbo Fubang’s 2026 Related-Party Transactions Forecast

Key Highlights

• Significant Increase in Related-Party Transactions: The forecast for 2026 daily related-party transactions is up to RMB 107.44 million, far exceeding the actual figure of RMB 8.86 million in 2025. This dramatic jump could directly impact the company’s operations and financial position.
• Main Counterparties and Composition: Transactions involve Aluminium Profiles Co., Xinle Group, Xinle Electric, and Timer Co., covering product sales, property leasing, and financial assistance interest payments.
• Shareholder Meeting Approval Required: The proposal is subject to shareholder approval, introducing uncertainty and potential short-term share price impact.
• No Material Harm to Independence: The announcement claims the transactions are fair, legal, and will not harm the interests of the company or minority shareholders.

Detailed Breakdown

1. Review and Decision Process

On April 9, 2026, the Board approved the proposal with all related directors abstaining, and independent directors confirmed the fairness and legality of the process.

2. Comparison with Previous Year

3. Major Related Parties

• Ningbo Fubang Aluminium Profiles Co.: Total assets RMB 52.1m, net assets RMB 24.6m, 2025 revenue RMB 44.9m, net profit RMB 0.31m; 100% held by Fubang Aluminium.
• Ningbo Xinle Holdings: Assets RMB 402.7m, net assets RMB 375.4m, 2025 revenue RMB 78.8m, net profit RMB 29.8m; Fubang Holdings holds 36%.
• Ningbo Xinle Electric: Assets RMB 683.9m, net assets RMB 253.7m, 2025 revenue RMB 972.6m, net profit RMB 35.4m; wholly owned by Xinle Group.
• Ningbo Timer Co.: Assets RMB 59.8m, net assets RMB 35.3m, 2025 revenue RMB 34.4m, net loss RMB 2.45m; 51% owned by Xinle Group.

4. Main Terms and Pricing Policies

• Aluminium ingot sales: Market pricing (Yangtze Nonferrous Metals Network average + logistics + processing fees), up to RMB 100m in 2026.
• Property leasing: Market price, 19,306 sqm, annual rent RMB 2.44m.
• Product sales: Same pricing as other customers (raw material price + processing fee), up to RMB 5m in 2026.
• Financial assistance: Provided by Xinle Group and subsidiaries, interest at LPR minus 40bps or equivalent, up to RMB 3m in 2026.

5. Potential Impact and Risks

• Large-scale related-party transactions will significantly influence revenue and cash flow. Failure to gain shareholder approval or execution shortfall may cause performance fluctuations.
• Transactions are declared to be fair and not detrimental to independence or minority shareholders.
• The scale and new nature of transactions (especially financial assistance) could attract further regulatory and investor scrutiny, posing certain uncertainties and price sensitivity.

Investor Takeaways & Potential Impact

• The scale of proposed related-party transactions, if realized, could notably boost company revenue and asset efficiency.
• Magnitude of dealings may bring governance, independence, and fairness under closer scrutiny from regulators and the market.
• Outcome of the shareholder vote remains uncertain—investors should monitor developments closely and manage risk.

Disclaimer

This article provides analytical commentary based on company disclosures and does not constitute investment advice. Stock markets carry risk—please refer to official company announcements and resolutions for investment decisions.

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