东睦新材料集团股份有限公司发布2026年度日常关联交易预计公告——涉及金额超6.65亿元，关联方结构受关注

一、公告关键点概述

• 重大事项：东睦新材料集团股份有限公司（简称“东睦股份”）发布2026年度日常关联交易预计公告，预计日常关联交易总金额高达66,502.2万元人民币，需提交股东大会审议。
• 关联方：主要涉及睦特殊金属工业株式会社（简称“睦金属”）、睦龙塑胶（东莞）有限公司（简称“睦龙东莞”）、宁波新金广投资管理有限公司（简称“宁波新金广投资”）。
• 交易类别：包括采购原材料、模具、租赁、粉末冶金制品及企业法人营业执照许可经营范围内法律允许的日常经常性交易。
• 独立性与程序：所有交易均通过董事会、审计委员会及独立董事事前和事中审议，关联董事回避表决，程序合规。
• 定价原则：全部关联交易遵循市场公允定价机制，与第三方比较后协商确定，保障中小股东利益。
• 历史执行情况：2025年预计与实际发生金额存在较大差异，主要由于采购计划调整，未出现坏账风险。

二、详细内容梳理

1. 2026年度日常关联交易预计金额与类别

合计：66,502.20万元，其中与宁波新金广投资关联交易金额最大。

2. 关联方详细信息及关系结构

• 睦特殊金属工业株式会社：日本公司，第一大股东，持股6546.72万股。2024-2025财年总资产519.6亿日元，净利润3.3亿日元。
• 睦龙塑胶（东莞）有限公司：睦金属全资子公司，总资产3627.80万元，净利润173.5万元。
• 宁波新金广投资管理有限公司：董事、高管和骨干员工持股平台，持股4.75%，并通过宁波金广投资间接持有8.10%，三方合计持股13.01%，构成一致行动关系。2025年总资产6.38亿元，净利润数据未披露。

3. 前次关联交易执行与风险

• 2025年与睦金属及其子公司实际发生关联交易额为3586.43万元，未超预算，但与预计差异较大（主要因采购计划变动）。
• 2025年与宁波新金广投资实际发生关联交易额为4.74亿元，低于预算6.55亿元，主要因采购计划调整。
• 所有关联交易履约正常，无坏账风险。

4. 交易定价机制与公允性保证

• 如有政府定价或指导价，执行该价格。
• 无政府定价的，按照市场价格、与第三方交易基准协商确定，确保不高于第三方同类条件下价格。
• 公司及控股子公司对部分原材料享有优先购买权。

5. 关联交易目的与潜在影响

• 保障关键原材料供应，提升生产稳定性，防范价格波动风险。
• 资源互补，获取技术支持和增值服务，促进公司稳定健康发展。
• 所有关联交易均未导致合并报表范围变化，不影响公司独立性，也未损害中小股东利益。

三、投资者须关注的价敏事项

1. 预计2026年公司与宁波新金广投资的关联交易金额高达6.15亿元，占同类业务14.1%，若实际发生金额与预计有较大出入，可能对公司原材料成本、业绩波动产生影响。
2. 公司大股东及员工持股平台（宁波新金广投资、宁波金广投资、宁波盈生企业管理）合计持股占比达13.01%，涉及一致行动人，股权结构相对集中，对公司治理和表决权有较大影响。
3. 交易定价机制严格按照市场价格与第三方基准，保障了中小股东利益，但若市场环境剧烈波动，实际交易金额可能偏离预期。
4. 所有关联交易需2025年年度股东大会审议通过，相关股东需回避表决。若审议未通过，或未来出现合规问题，可能影响公司经营安排。

四、结论

本次公告涉及重大关联交易安排，金额巨大，特别是宁波新金广投资平台的关联交易及持股结构，对公司治理、资金流向、原材料供应保障等均有直接影响。任何超预期的变化都可能对公司业绩及股价产生影响，投资者需高度关注相关进展和后续审议结果。

免责声明：本文内容仅为信息披露和分析，不构成任何投资建议。投资者需结合自身实际情况，理性判断并自负投资风险。

English Translation

NBTM New Materials Group Announces 2026 Related Party Transactions—Total Amount Exceeds RMB 665 Million, Shareholder Structure in Focus

1. Key Highlights

• Major Event: NBTM New Materials (NBTM) has released its 2026 related party transaction forecast, with a total estimated transaction amount of RMB 665.022 million, pending shareholder meeting approval.
• Related Parties: Key parties include Japan’s NBTM (Mitsui) Special Metals Co., Ltd. (Mitsui Metals), NBTM Long Plastics (Dongguan) Co., Ltd., and Ningbo Xinjinguang Investment Management Co., Ltd. (Ningbo Xinjinguang).
• Transaction Types: Purchases of raw materials, molds, leasing, powder metallurgy products and other daily recurring transactions allowed by business licenses.
• Independence & Procedure: All transactions were reviewed by the board, audit committee, and independent directors, with related directors abstaining. All procedures comply with regulatory requirements.
• Pricing Principle: All related transactions are based on market-based, fair pricing mechanisms, referencing third-party transactions to protect minority shareholders.
• Historical Execution: There were significant differences between 2025 forecasts and actuals, mainly due to adjustments in procurement plans. No bad debt risks occurred.

2. Detailed Breakdown

1. 2026 Related Party Transaction Forecast and Categories

Total: RMB 665.022 million, with the largest portion from transactions with Ningbo Xinjinguang.

2. Related Parties & Structure

• Mitsui Metals: Japan-based, largest shareholder (65.4672 million shares), assets of JPY 51.96 billion, net profit JPY 330 million (2024-2025).
• Long Plastics Dongguan: Wholly-owned subsidiary of Mitsui Metals, assets RMB 36.278 million, net profit RMB 1.735 million.
• Ningbo Xinjinguang: Employee/shareholder platform, direct holding 4.75%, indirect through Ningbo Jinguang another 8.10%, combined 13.01% as acting-in-concert group. Assets RMB 638.14 million (2025).

3. Prior Execution & Risks

• 2025 actual related transactions with Mitsui Metals and subsidiaries: RMB 35.8643 million, below budget, but with large deviation due to procurement changes.
• 2025 actual with Ningbo Xinjinguang: RMB 474.2263 million, below RMB 655 million budget, due to procurement adjustments. No bad debts occurred.

4. Pricing Mechanisms

• Government-guided prices are followed if applicable.
• Otherwise, market prices and third-party benchmarks are used, ensuring no higher than third-party for the same conditions.
• Company and subsidiaries have priority for purchasing certain raw materials.

5. Purpose and Potential Impacts

• Ensures raw material supply, production stability, and risk mitigation for price volatility.
• Resource complementarity, technical support, and value-added services, promoting stability and growth.
• No impact on consolidation range or independence; no harm to minority shareholder interests.

3. Price-Sensitive Issues for Investors

1. Forecast related transactions with Ningbo Xinjinguang reach RMB 615 million in 2026, 14.1% of business. Significant variance from actuals may affect costs and profits.
2. Major shareholders and employee platform hold 13.01% combined, concentrated structure, may affect governance and voting rights.
3. Pricing mechanisms are market-based, but large market swings may cause actuals to diverge from forecasts.
4. All transactions require shareholder meeting approval, with related parties abstaining. Non-approval or compliance issues may impact operations.

4. Conclusion

This announcement involves large-scale related transactions, especially with the employee platform. Any deviation from forecasts could impact performance and share price. Investors should closely monitor shareholder meeting outcomes and transaction execution.

Disclaimer: This report is for information and analysis only and does not constitute investment advice. Investors must make their own decisions and bear their own risks.

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