爱旭股份2026年度日常关联交易预计公告深度解读

一、公告摘要与核心要点

上海爱旭新能源股份有限公司（以下简称“爱旭股份”或“公司”，股票代码：600732）于2026年4月16日发布了关于预计2026年度日常关联交易的公告。公告称，公司及下属子公司预计将在2026年度与多家关联方发生不超过2,450万元（含税）的日常关联交易。相关议案已由董事会审议通过，无需提交股东大会审议。

二、具体关联交易内容及金额

• 交易类型： 主要包括购买备品备件、采购燃料及动力、接受服务等日常经营性交易。
• 交易对方（关联方）：
  • 珠海迈科斯自动化系统有限公司及其子公司
  • 广东保威新能源有限公司
  • 公司实际控制人陈刚控制的其他企业
• 预计交易总金额： 不超过2,450万元（含税）。其中：
  • 与广东保威新能源有限公司交易额为50万元
  • 与珠海迈科斯及其子公司交易额为2,200万元
  • 与其他企业交易额为200万元
• 上述交易总金额仅占公司同类业务较小比例，对公司整体业务影响有限。

三、董事会与独立董事意见

• 该议案已在公司第十届董事会第四次会议中以5票同意、0票反对、2票回避表决通过，关联董事陈刚、梁启杰回避表决。
• 独立董事一致认为，交易合理、客观，属于公司正常生产经营所需，交易定价公允，不存在损害公司及中小股东利益的情形。

四、2025年度关联交易执行情况对比

• 2025年度实际发生交易金额合计2,390.42万元，预计与实际金额基本相符，未出现较大差异。
• 其中与珠海迈科斯及其子公司实际签订合同2,300万元，已执行订单金额813.53万元。

五、关联方详细介绍及财务状况

1. 广东保威新能源有限公司
   • 成立于2010年，注册资本1,500万美元，主要从事光伏设备及元器件制造与销售等。
   • 2025年底总资产58,637.07万元，净资产35,861.77万元，2025年度营业收入65,365.60万元，净利润2,554.95万元。
   • 由中国光电集团控股有限公司100%持股。与爱旭股份同为陈刚实际控制。
2. 珠海迈科斯自动化系统有限公司及其子公司
   • 成立于2022年，注册资本4,000万元人民币，主营工业自动化控制系统、光伏设备及元器件销售等。
   • 珠海横琴明皓管理咨询有限公司持股90%，张淋持股10%，实际控制人为陈刚。
   • 2025年底总资产58,526.52万元，净资产16,933.81万元，2025年度营业收入15,505万元，净利润为-398.80万元（2024年净利润为1,884.15万元，出现利润下滑）。

六、定价政策及交易原则

• 所有交易将以市场公允价格为基础，采用市场询比价方式或参照生产成本及目标利润率定价，确保公平、公开、公正。
• 付款安排及结算方式均以实际采购订单为准。

七、对上市公司的影响及投资者需关注事项

• 这些日常关联交易属于公司正常经营活动，有助于保障公司业务顺利进行。
• 公告明确指出，这些交易不会影响公司的业务独立性，不会对公司持续经营能力产生不利影响，也不会形成对关联方的依赖。
• 值得关注的是，珠海迈科斯2025年度出现了净利润亏损，投资者应持续关注其对公司供应链稳定性和交易持续性的潜在影响。
• 本次公告虽不涉及重大金额（仅占公司同类业务极小份额），但公司持续与关联方交易，尤其是实际控制人陈刚控制的企业，投资者需关注相关公司治理和信息披露的透明度。

八、结论与潜在价格敏感点

• 虽然本次公告涉及的金额较小，对公司业绩影响有限，但反映出公司在管理关联交易和内部治理方面的规范性。
• 珠海迈科斯净利润下滑可能带来一定的不确定性，需持续关注。
• 整体来看，公告未披露足以明显影响股价的重大事项，但涉及关联交易持续性和治理规范，对于关注公司治理结构的投资者具有一定参考价值。

免责声明： 本文所载信息仅供参考，不构成任何投资建议。投资者据此操作，风险自担。请密切关注公司后续公告及相关信息披露。

English Version

Detailed Analysis of Aiko Solar’s 2026 Estimated Related-Party Transactions

1. Summary and Key Highlights

Shanghai Aiko Solar Energy Co., Ltd. (“Aiko Solar” or “the Company”, Stock Code: 600732) released an announcement on April 16, 2026, regarding the estimated related-party transactions for 2026. The Company and its subsidiaries expect to conduct up to RMB 24.5 million (tax included) in routine related-party transactions during the year. The proposal has been approved by the Board of Directors and does not require submission to the shareholders’ meeting.

2. Details of the Related-Party Transactions

• Types of Transactions: Mainly involve purchase of spare parts and consumables, procurement of fuel and power, and receipt of services for daily operations.
• Counterparties (Related Parties):
  • Zhuhai Maikos Automation System Co., Ltd. and its subsidiaries
  • Guangdong Poway New Energy Co., Ltd.
  • Other enterprises controlled by the actual controller Mr. Chen Gang
• Estimated Total Transaction Amount: Up to RMB 24.5 million (tax included), including:
  • Guangdong Poway: RMB 500,000
  • Zhuhai Maikos and subsidiaries: RMB 22 million
  • Other controlled enterprises: RMB 2 million
• This amount represents a very minor proportion of the Company’s business.

3. Board and Independent Directors’ Opinions

• The proposal was approved at the 4th meeting of the 10th Board of Directors with 5 votes in favor, 0 against, and 2 abstentions (related directors recused themselves).
• Independent directors unanimously agreed the transactions are reasonable, objective, priced fairly, and there is no prejudice to the interests of the Company or minority shareholders.

4. Review of 2025 Related-Party Transactions

• 2025 actual related transactions totaled RMB 23.9 million, basically in line with estimates, with no major deviations.
• Zhuhai Maikos and subsidiaries signed contracts for RMB 23 million, with RMB 8.14 million already executed as orders.

5. Details and Financial Status of Related Parties

1. Guangdong Poway New Energy Co., Ltd.
   • Established 2010, registered capital USD 15 million, mainly engaged in photovoltaic equipment manufacturing and sales.
   • At end-2025, total assets RMB 586.37 million, net assets RMB 358.62 million, 2025 revenue RMB 653.66 million, net profit RMB 25.55 million.
   • 100% owned by China Optoelectronic Group; actual controller same as Aiko Solar (Chen Gang).
2. Zhuhai Maikos Automation System Co., Ltd. and Subsidiaries
   • Established 2022, registered capital RMB 40 million, focused on industrial automation control and photovoltaic equipment sales.
   • 90% owned by Zhuhai Hengqin Minghao (70% controlled by Chen Gang), 10% by Zhang Lin.
   • At end-2025, total assets RMB 585.27 million, net assets RMB 169.34 million, 2025 revenue RMB 155.05 million, net profit -RMB 3.99 million (2024 net profit was positive, showing a decline).

6. Pricing Policy and Transaction Principles

• Transactions are priced at fair market value, either through market inquiry or based on production costs plus target profit for special products.
• Settlement and payment arrangements are as per actual procurement orders.

7. Impact and Points of Attention for Investors

• These transactions are part of normal operations and help ensure smooth business activities.
• The Company stresses these will not impact business independence, create reliance on related parties, or affect going-concern ability.
• Of note, Zhuhai Maikos posted a net loss in 2025, which could affect execution stability and warrants attention.
• While the amounts are small, the continuous related-party transactions with enterprises controlled by the actual controller highlight the importance of transparency and governance for investors.

8. Conclusion and Potential Price-Sensitive Factors

• Although the amounts are not significant, the announcement reflects the Company’s standardization in managing related-party transactions and internal controls.
• The net profit decline at Zhuhai Maikos is a potential risk point to monitor.
• No major price-sensitive information is disclosed, but the governance and related-party dealings are notable for investors interested in corporate structure and transparency.

Disclaimer: The above information is for reference only and does not constitute investment advice. Investors are advised to pay attention to subsequent company disclosures and assume responsibility for their own investment risks.

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