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国晟科技起诉参股公司“不分红”！要求其近4倍市价“回购” 8年前已埋伏笔_我的网站

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    Image of the PLA Navy Type 054A guided missile frigate Ningde Photo: China Military BugleState media released footage on Saturday showing the latest training scenes of the Type 054A guided missile frigate Ningde, marking its official commissioning into the Chinese People's Liberation Army (PLA) Navy. 
The vessel inherits the hull number 510 from its predecessor, a smaller Type 056 guided missile corvette also named Ningde.
Recently, the Ningde, assigned to a frigate flotilla under the PLA Eastern Theater Command, formed a task group with multiple vessels to conduct combat-oriented training, testing command coordination and emergency response capabilities while accelerating combat readiness generation, according to the military channel of state broadcaster CCTV News.
As threats emerged from both sea and air, radar stations quickly locked onto targets and reported the tactical situation. Weapons systems prepared for engagement. Following the commander's order, the main and secondary guns opened fire in succession, delivering intensive strikes and neutralizing the simulated threats, the report said.
Amid rolling waves, the vessel conducted replenishment drills. Subsequently, the Ningde focused on specialized training in areas including helicopter takeoffs and landings and damage control, further honing its combat skills, said the report.
The new Ningde has drawn attention from Chinese military enthusiasts, who remarked that the PLA Navy's modernization is moving at an astonishing pace, as the previous Type 056 Ningde had been in service for only about a decade, according to Shanghai Observer.
The continued production and upgrade of the Type 054A have effectively filled the gap in coastal and offshore combat capabilities, providing the navy with a large number of cost-effective platforms for both near-sea and far-sea operations, helping maintain a sustained combat readiness, Zhang Junshe, a Chinese military affairs expert, told the Global Times on Sunday.
Mass production has reduced unit procurement and maintenance costs, standardized training, logistics and command systems, and significantly improved the overall efficiency of the Navy's equipment system, Zhang said.
The Type 054A guided missile frigate belongs to the PLA Navy's most numerous and cost-effective medium-sized frigate program of the past two decades, often described as a "maritime multi-role platform." 
With the addition of the Ningde, the Type 054A fleet has now reached 46 vessels, Zhang said.
The Type 054A is equipped with 3D radar, low-altitude gap-filling radar and a towed array sonar system, forming a three-dimensional detection network covering sea, air and underwater domains. With a range of 4,000 nautical miles, it is suited for long-duration far-sea missions and possesses strong integrated combat capabilities in coastal and offshore waters, as well as far-sea escort capabilities. Its weapon systems are well balanced through successive upgrades, Zhang said.
In January 2026, CCTV announced a newly upgraded version of Type 054A frigates. 
Compared with the original design, the upgraded version features an extended flight deck better suited for new shipborne helicopters, addressing a previous shortfall in aviation-based anti-submarine warfare. The main gun has also been upgraded to a 100mm caliber, similar to that on the Type 054B, with improved radar range and accuracy.
PLA Navy has developed the Type 054B frigate as a next-generation successor to the Type 054A.
On January 22, 2025, the lead ship of the Type 054B, Luohe, was commissioned at a naval port in Qingdao, East China's Shandong Province, followed by the second ship, Qinzhou, in March, reported CCTV.
The Type 054B frigate displaces approximately 5,000 tons and features a new propulsion system, stealth design, integrated mast and advanced multi-functional vertical launch system capable of firing various missile types. It has achieved breakthroughs in stealth technology, combat command systems and fire control integration, said the CCTV report.
Despite this, China continues to upgrade and build the Type 054A frigate. Zhang said that the Type 054A and Type 054B form a clear "high-low mix, mission complement" structure. 
The Type 054B is positioned as a larger far-sea vessel, primarily tasked with core escort and high-end confrontation missions in far-sea formations. The Type 054A serves as the main coastal and offshore combat force and a supplementary far-sea asset, responsible for near-sea defense, routine patrols, anti-submarine warfare in offshore waters, and escort missions for far-sea formations. This avoids equipment homogenization and enables efficient synergy, Zhang said.
The Type 054A features mature technology, stable production lines, fast construction and high cost-effectiveness, enabling rapid mass deployment at relatively low cost. Meanwhile, the Type 054B, as a new model, still comes with a higher price tag. 
Given the Navy's continuous demand for more vessels, continued construction of the Type 054A quickly fills the coastal and offshore capability gap, while the Type 054B gradually replaces some older vessels and enhances far-sea integrated combat capabilities, Zhang noted.
。    　　因参股公司“不分红”，国晟科技将其诉至法庭。

二 | 　　国晟科技（603778）近日披露，公司就与河北汉尧碳科新能科技股份有限公司（下称“汉尧碳科”）的收购股份纠纷，向石家庄市中级人民法院提交了《民事起诉状》，法院已经立案。

三 | 　　证券时报记者注意到，这一纸诉讼公告，又一次揭开了国晟科技早年“高溢价”收购后遗症的伤疤。　　起诉要求参股公司回购股权　　据国晟科技公告，公司请求法院依法判令汉尧碳科以1.67亿元收购公司持有的汉尧碳科752万股股份（约22.17元/股），并承担本案的全部诉讼费用。　　汉尧碳科是一家新三板挂牌企业。该公司最近一个交易日收盘价为5.97元/股，752万股股份市值约4489.44万元。以此计算，上市公司要求的回购价格近4倍于当前股价。　　国晟科技称，公司提出的收购价格的计算标准为：汉尧碳科752万股股份对应的其2025年12月31日的净资产8954.7万元，加上对应的未分配利润7717.62万元。

四 | 　　对于起诉的原因，上市公司表示，自2021年1月起至2025年12月，汉尧碳科连续五年盈利，且符合《公司法》规定的向股东分配利润的条件，但在此期间，汉尧碳科未向上市公司分配任何利润。

五 | 　　记者注意到，在5月中旬召开的汉尧碳科2025年年度股东会上，国晟科技对该公司《关于2025年利润分配方案的议案》投了反对票。不过，由于赞成票占比70.12%，该利润分配方案仍获得通过。　　据悉，在股东会决议不分配利润后，国晟科技请求汉尧碳科按合理价格收购其所持股份。

六 | 但双方就股份收购未能达成协议。

七 | 　　据汉尧碳科定期报告，2021年至2025年，公司分别实现净利润4592.43万元、1.33亿元、3421.29万元、3334.86万元、1.14亿元。截至2025年年末，该公司的未分配利润为5.13亿元。　　“由于本次诉讼案件尚未开庭审理，目前暂无法判断对公司本期或期后利润的影响。”国晟科技称。　　曾“高溢价”入股　　上述纠纷背后，是国晟科技8年前“高溢价”收购导致的后遗症。　　2018年4月，国晟科技前身乾景园林宣布，拟以现金支付方式收购河北汉尧环保科技股份有限公司（于2022年更名，下统称汉尧碳科）2869.1万股股份，占汉尧碳科总股本的57.38%，交易金额为4.13亿元。　　汉尧碳科主营业务为工业节能领域的软件、系统集成产品的研发和销售、信息技术服务等，主要客户为冶金、建材、化工等高耗能工业企业。　　于评估基准日（2018年3月31日），汉尧碳科股东全部权益账面价值为5976.31万元。经收益法评估，公司股东全部权益价值为7.24亿元，增值率为1111.38%。　　对于汉尧碳科估值高溢价，国晟科技称主要源于该公司当前业务订单充足，“正在洽谈中的项目金额约为20亿元”。

八 | 　　从业绩上看，汉尧碳科2017年的营收和归母净利润分别为1922.64万元、165.38万元。相关股东承诺，公司2018年至2020年经审计后的净利润分别不低于4500万元、6000万元、7500万元，三年累计不低于1.8亿元。　　不过，这场并购未能完整实施。　　国晟科技2018年8月末披露，受公司业务开展、整体资金安排、业务磋商等因素的影响，公司仅收购汉尧碳科1250万股股份，并已支付1.8亿元，未能如期完成约定股权比例的收购。　　此后交易双方陷入合同纠纷，上市公司于2019年6月终止收购并提起诉讼，请求法院判令解除收购协议，并要求对方退还收购款。　　记者梳理国晟科技公告发现，这场纠纷此后陷入拉锯战，双方均向对方发起了诉讼。

九 | 卖方一度起诉要求上市公司支付2.33亿元完成剩余股权的收购。

十 | 　　2023年度，国晟科技控制权易主，光伏业务全面超过园林业务，成为公司核心主业。但这起旧案未因公司实控人更迭而得到解决。　　已“亏本”减持部分股权　　在此次起诉之前，国晟科技已“亏本”处置了所持汉尧碳科股权。

十一 | 　　2025年12月，汉尧碳科推出回购股份方案，拟以5.60元/股回购公司股份不超过1350万股；回购的股份将注销并减少注册资本。　　经过上述股份回购，国晟科技对汉尧碳科的持股数量从1250万股降至752万股。以回购价格估算，上市公司回收了2788.8万元的资金。　　另据国晟科技2025年年报，汉尧碳科长期股权投资期末出现重大减值迹象，公司按照回购价格对持股计提减值准备2.07亿元。国晟科技去年亏损5.73亿元，上述计提系公司亏损的重要原因之一。　　汉尧碳科的经营也有些状况。

十二 | 　　在回购公告中，汉尧碳科称，公司近几年的营业收入为大幅下降趋势。同时近2年签订合同金额大幅减少，行业“内卷”直接挤压了利润空间，导致应收账款、长期应收款账期较长导致经营风险凸显。

十三 | 同时，公司已存在的重大诉讼事项目前还在审理阶段且金额较大，最终判决结果存在重大不确定性。　　“公司决定企业战略阶段性收缩，希望股东不给公司带来外在压力；同时给股东一个在公司转型风险期留有可退出投资的机会，避免投资者在公司转型发展期蒙受损失。”汉尧碳科表示。　　今年6月中旬，汉尧碳科重大仲裁取得进展。该公司在6月下旬披露多个银行账户解除冻结。（文章来源：证券时报）。

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