上海开创国际海洋资源股份有限公司2026年度日常关联交易预计公告详细解读

主要内容与投资者关注要点

• 预计2026年度日常关联交易总额将达6,550万元，较2025年实际发生额（3,300.61万元）大幅提升，显示公司对关联方交易的增长预期显著。
• 2025年董事会授权额度为6,567万元，实际执行仅为3,300.61万元，执行率约为50%，未超授权范围。
• 本次预计的关联交易无需提交股东大会审议，仅经董事会通过，关联董事已回避表决，独立董事全票同意，认为不会对公司独立性和中小股东利益造成损害。
• 主要交易对象为控股股东“上海水产集团有限公司”及“光明食品（集团）有限公司”及其下属公司，涉及资产租赁、原材料及劳务采购、产品销售等日常经营活动。
• 分交易类别预测：
  • 关联租赁业务：预计2,850万元
  • 向关联方采购原材料及接受劳务：预计1,750万元
  • 向关联方销售产品及提供服务：预计1,950万元
• 公司声明对关联方无重大依赖，交易定价坚持市场公允、独立第三方标准，履约能力良好，合同执行有法律保障。
• 公告明确指出，相关交易属于公司日常经营需要，对公司当前及未来财务状况和经营成果无不利影响。

对股东及股价可能影响的重点提示

• 关联交易额度提升值得关注。公司2026年度日常关联交易预计额度较2025年实际增长近一倍，若交易实际发生数持续增长，可能反映公司业务规模扩张或与关联方合作加强，潜在影响公司业绩表现。
• 无需股东大会审议，治理结构透明。本次关联交易全部由非关联董事审议通过，独立董事认可交易合理性，显示公司治理结构规范，但也需持续关注关联交易比例变化，防止未来潜在利益输送或依赖风险。
• 主要关联方为国有企业。交易对象均为国资背景，履约能力较强，降低违约风险，但投资者需关注国资政策调整对交易结构的潜在影响。
• 2025年实际发生额远低于预计额度，显示公司或面临市场需求、业务节奏等不确定性，未来实际执行情况值得跟踪。
• 若实际交易额未达预期，可能影响公司收入和利润增长预期，进而影响市场对公司估值和股价表现。

详细数据披露

2025年日常关联交易实际执行情况：

• 关联租赁业务实际发生2,724.16万元，采购原材料及接受劳务实际发生约364.93万元，向关联方销售产品实际发生约202.10万元。
• 2025年预计交易总额为6,567万元，实际发生3,300.61万元，节约3,266.39万元。

2026年预计交易分项：

• 上海水产集团及下属公司关联租赁：2,850万元
• 原材料采购及劳务：上海水产集团1,500万元，光明食品集团250万元
• 产品销售及服务：上海水产集团1,500万元，光明食品集团450万元

公司及关联方介绍

• 光明食品（集团）有限公司：国资背景，经营范围涵盖食品、农林牧渔、国内外贸易等。
• 上海水产集团有限公司：国资背景，涉足海洋捕捞、养殖、渔需物资、房地产、进出口贸易等。

结论及投资者应关注事项

本次公告显示，公司对未来与关联方合作持积极态度，预计交易规模扩大。作为投资者，应关注2026年度实际执行情况是否与预测相符，以及关联交易在公司整体营收中的占比变化。若关联交易大幅增长或未达预期，可能对公司业绩及估值产生影响，建议持续跟踪公司后续公告和财报披露。

免责声明： 本文内容仅供投资者参考，不构成任何投资建议。投资者应结合自身风险承受能力和市场变化做出独立判断。公司实际业绩可能受多种因素影响，过往数据和预测不代表未来表现。

English Version (for reference):

In-Depth Analysis: 2026 Related Party Transaction Forecast of Shanghai Kai Chuang International Marine Resources Co., Ltd.

Main Contents & Key Points for Investors

• Expected total related party transactions for 2026 will reach RMB 65.5 million, which is a significant increase from the actual figure in 2025 (RMB 33 million), indicating strong growth expectations for dealings with related parties.
• The 2025 board-authorized cap was RMB 65.67 million, with actual execution at RMB 33.01 million, around 50% usage, staying well within the authorized range.
• This forecast does not require shareholder meeting approval, only board approval. Related directors abstained. All independent directors agreed, stating the transactions do not harm company independence nor minority shareholders’ interests.
• Main counterparties are controlling shareholder “Shanghai Fisheries Group” and “Bright Food (Group)” and their subsidiaries, involving asset leasing, procurement, and product sales—all part of daily operations.
• Breakdown of forecast by category:
  • Leasing: RMB 28.5 million
  • Procurement & services: RMB 17.5 million
  • Sales & service provision: RMB 19.5 million
• The company claims no major reliance on related parties; pricing is fair and market-based; contract performance is strong and legally safeguarded.
• The transactions are regular business, not expected to negatively impact finances or operations, nor to harm company or minority shareholder interests.

Potential Shareholder/Price Sensitive Highlights

• Substantial increase in related transaction cap. If actual transactions rise as forecasted, it may indicate business expansion or deepened cooperation, potentially affecting company performance and valuation.
• No shareholder meeting needed; transparent governance. All non-interested directors approved, showing robust governance. Still, future increases in related transactions warrant vigilance for possible dependency or benefit transfer risks.
• Counterparties are state-owned enterprises, reducing default risk but sensitive to policy changes.
• 2025 actuals far below forecasted, reflecting possible market or operational uncertainties. Future actuals should be closely monitored.
• If actuals fall short of projections, revenue/profit growth expectations may be impacted, affecting market valuation.

Detailed Data Disclosure

• 2025 actual leasing: RMB 27.24 million; procurement & services: RMB 3.65 million; sales: RMB 2.02 million.
• 2025 forecast: RMB 65.67 million; actual: RMB 33 million; saving: RMB 32.66 million.
• 2026 forecast: main leasing RMB 28.5 million; procurement/services: Shanghai Fisheries RMB 15 million, Bright Food RMB 2.5 million; sales/services: Shanghai Fisheries RMB 15 million, Bright Food RMB 4.5 million.

Company and Counterparty Profiles

• Bright Food (Group): State-owned, focuses on food, agriculture, retail, import/export.
• Shanghai Fisheries Group: State-owned, covers marine fishing, aquaculture, supplies, real estate, trade, etc.

Conclusion & Investor Recommendations

The forecast shows active engagement with related parties and anticipated growth in transaction volume. Investors should track actual vs. forecasted amounts, and the proportion of related transactions in overall revenue. Significant deviations could affect performance and valuation; ongoing monitoring is advised.

Disclaimer: The above content is for reference only and does not constitute investment advice. Investors should make independent judgments based on their risk profile and market developments. Historical and projected data do not guarantee future performance.

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