厦门建发股份控股子公司签署《谅解备忘录》暨关联交易详细解读

要点概览

• 事件：建发股份控股子公司厦门益睿投资管理有限公司与厦门联发、建发集团及华益工贸签署《谅解备忘录》，意向收购联发物业及建发城服全部股权。
• 交易结构：厦门益睿拟现金收购厦门联发持有的联发物业100%股权，以及建发集团、华益工贸合计持有的建发城服100%股权。
• 关联交易：建发集团及华益工贸均为建发股份关联方，因此收购建发城服构成关联交易，需履行后续审批及信息披露义务。
• 标的资产情况：建发城服2025年末未经审计总资产21.27亿元，归母净资产7.16亿元，2025年营业收入16.34亿元，净利润1.20亿元。
• 协议性质：本次谅解备忘录为意向性协议，具体交易细节及最终对价将依据有权国资部门核准的资产评估报告和尽调结果协商确定。
• 战略意义：通过收购建发城服，建发物业将拓展城市服务业务，实现从社区服务到城市服务的业务延伸，推动主营结构多元化，丰富收入来源，提升竞争力及可持续发展。

对股东及投资者的重要提示

• 潜在影响：本次收购有望显著增强建发物业的业务版图和盈利能力，进一步提升上市公司整体竞争力和持续成长性，对公司未来业绩具备积极影响，属于影响股价的重要信息。
• 交易尚未最终落地：目前仅为意向协议，后续需根据项目进展签署正式协议并完成国资部门审批，最终交易能否落地仍存不确定性。
• 关联交易合规性：涉及关联方重大资产交易，需履行公司治理流程及充分的信息披露义务，请投资者关注相关后续公告。
• 具体交易价格：尚未确定，将以双方协商、资产评估和尽调结果为依据，未来如有重大变化将及时披露。
• 相关公告同步披露：本次交易相关信息已同步在建发国际集团、建发物业于联交所网站披露。

详细信息解读

2026年4月10日，厦门建发股份有限公司控股子公司厦门益睿投资管理有限公司与厦门联发（集团）房地产有限公司、厦门建发集团有限公司及厦门华益工贸有限公司分别签署《谅解备忘录》，意向收购厦门联发持有的联发物业100%股权，以及建发集团、华益工贸合计持有的建发城服100%股权。根据公告，建发集团持有建发股份46.79%股权，为控股股东，华益工贸为建发集团全资子公司，均为关联方。

根据谅解备忘录，厦门益睿将以现金方式进行收购，具体交易价格依据有权国资主管部门核准或备案的资产评估报告评估值，并结合尽职调查结果协商确定。标的公司建发城服截至2025年末未经审计的财务数据显示，总资产为21.27亿元，归属于母公司的净资产为7.16亿元，2025年度营业收入16.34亿元，净利润1.20亿元。

需要注意的是，本次谅解备忘录仅为意向性协议，双方后续需根据项目进展进一步签署正式协议，收购建发城服相关的关联交易事项将依据进展履行公司治理及信息披露程序。

战略层面，本次收购将帮助建发物业实现从社区服务向城市服务的延伸，推动主营业务结构多元化，丰富收入来源，提升竞争优势和可持续发展能力，对公司长期成长具有积极意义。

结论与展望

本次收购若顺利完成，将有望推动建发股份及其控股子公司在城市服务领域实现业务突破和收入增长，对提升公司整体市值及投资价值具有积极推动作用。鉴于交易尚需履行审批流程，建议投资者密切关注后续进展及相关公告。

免责声明

本文内容仅供投资者参考，不构成任何投资建议。公司收购事项尚处于意向阶段，存在不确定性，投资者需注意相关风险。请以公司后续公告为准，审慎决策。

Xiamen C&D Inc. Subsidiary Signs MOU for Major Asset Acquisition and Related Party Transaction – In-Depth Analysis

Key Highlights

• Event: Subsidiary Xiamen Yirui Investment Management Co., Ltd. signed an MOU with Xiamen Lianfa, C&D Group, and Huayi Trading, intending to acquire 100% equity of Lianfa Property and 100% equity of C&D City Service.
• Transaction Structure: Xiamen Yirui plans to acquire Lianfa Property and C&D City Service from Xiamen Lianfa and a combination of C&D Group and Huayi Trading via cash payment.
• Related Party Transaction: Both C&D Group and Huayi Trading are related parties to C&D Inc., so the acquisition of C&D City Service constitutes a related party transaction, requiring subsequent approval and disclosure procedures.
• Target Assets: As of end-2025 (unaudited), C&D City Service had total assets of RMB 2.127 billion, net assets attributable to the parent of RMB 716 million, 2025 revenue of RMB 1.634 billion, and net profit of RMB 120 million.
• Nature of Agreement: The MOU is an intention agreement; details and final price will be based on asset appraisal filed/approved by state-owned asset authorities and due diligence results.
• Strategic Significance: The acquisition will allow C&D Property to expand into urban services, diversify its business structure, increase revenue streams, and enhance its competitive advantage and sustainability.

Important Information for Shareholders and Investors

• Potential Impact: The deal could significantly boost C&D Property’s business scale and profitability, improving the listed company’s competitiveness and growth potential. This is highly price-sensitive news.
• Deal Not Finalized: The MOU is not binding; the final transaction depends on future agreements and regulatory approval. The outcome remains uncertain.
• Compliance: As a major related party transaction, it requires strict corporate governance and full disclosure. Investors should closely monitor future announcements.
• Transaction Price: Yet to be determined, will depend on asset appraisal and negotiation. Any major changes will be disclosed in a timely manner.
• Simultaneous Disclosure: The transaction has also been disclosed on the HKEX by C&D International Group and C&D Property.

Detailed Analysis

On April 10, 2026, Xiamen C&D Inc.’s subsidiary Xiamen Yirui Investment Management Co., Ltd. signed an MOU with Xiamen Lianfa (Group) Real Estate, C&D Group, and Huayi Trading, intending to acquire 100% of Lianfa Property and 100% of C&D City Service. C&D Group holds 46.79% of C&D Inc. (controlling shareholder), and Huayi Trading is wholly owned by C&D Group, both are related parties.

The transaction will be paid in cash; the final price will be determined by the state-owned assets regulator’s approved appraisal and due diligence. As of year-end 2025, unaudited, C&D City Service posted total assets of RMB 2.127 billion, net assets of RMB 716 million, revenue of RMB 1.634 billion, and net profit of RMB 120 million.

Note that the MOU is only an intention to acquire. A formal agreement is yet to be signed, and the related party transaction of C&D City Service still requires further approval and disclosure.

Strategically, the acquisition will help C&D Property expand from community to urban services, diversify its main business, and enrich income sources, enhancing competitiveness and long-term growth.

Conclusion & Outlook

If successful, the acquisition will likely drive revenue growth, strengthen C&D Inc.’s presence in urban services, and boost its market value and investment appeal. As the deal is not yet finalized, investors should closely watch for further updates and regulatory disclosures.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. The acquisition is still at the intention stage and subject to risks and uncertainties. Please refer to official announcements for final decisions and act prudently.

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