⊙记者 赵晓琳 ○编辑 邱江

Reporter ZhaoXiaoLin ○ ⊙ QiuJiang editor

　　由于中小股东强烈质疑并反对公司高溢价收购劣质水电资产，闽东电力(000993,股吧)《关于拟投资收购屏南坑水电有限公司100%股权的议案》于8月7日的临时股东大会上被否决。仔细研读分析有效投票的具体情况，公司第一大股东或迫于外界压力而投了弃权票。

Due to the small and medium shareholders questioned and strong against the company high premium acquisition inferior hydropower assets，Mindong power(000993,Shares it)《Purchase BingNa pit invested in about 100% of the water and electricity Co., LTD equity bill》On August 7, on the extraordinary shareholders' general meeting were rejected。Carefully read analysis of the specific conditions of the effective votes，The first big shareholders or in response to external pressure and abstained。

　　公告披露，参加股东大会的有效表决权股份总数为217194321股。其中，同意该议案的为145211股，占出席本次股东大会所有股东所持有效表决权股份总数的0.0669%；反对的有18323320股，占8.4364%；弃权的为198725790股，占91.4967%。

Announcement disclosure，To attend the shareholders' general meeting of the effective voting shares for a total of 217194321 shares。Among them，Agree with the motion of the for 145211 shares，Present at the shareholders' meeting all of the voting rights held by the shareholders effectively 0.0669% of the total number of shares；The opposition has 18323320 shares，8.4364%；The waiver for 198725790 shares，91.4967%。

　　参加现场会议的仅有一位股东（代理人），即闽东电力第一大股东宁德市国有资产投资经营有限公司，持股198470000股，投了弃权票；通过网络投票的有效表决权股份总数为18724321股，同意的145211股，弃权的255790股，反对的18323320股，占参加网络投票股东所持有效表决权股份总数的97.8584%。由此，第一大股东投弃权票的举动颇值得玩味。

The meeting in the only a shareholder（agent），That is the power of the first largest shareholder mindong ningde state-owned assets investment management Co., LTD，Holding 198470000 shares，Abstained from；Through the network of effective vote for a total of 18724321 shares voting shares，Agree with the 145211 shares，The waiver of 255790 shares，Against the 18323320 shares，Accounting for a network voting in the voting rights held by the shareholders effectively 97.8584% of the total number of shares。this，The first big shareholders abstain move quite worth pondering。

　　7月20日，闽东电力《关于拟收购屏南旺坑水电有限公司100%股权的公告》一披露，即遭到市场广泛质疑。为此，闽东电力8月5日下午在福建宁德公司大楼专门举办了投资者见面会，提前“热场”。

July 20,，Mindong power《About BingNa prosperous pit to purchase hydropower Co., LTD 100% equity announcement》A disclosure，That was widely questioned。For this，Mindong power August 5, in the afternoon of fujian company building special held investors conference，advance“Thermal field”。

　　据7月20日公告披露，公司拟以不高于评估价值3.2亿元收购屏南旺坑水电100%股权，资金来源为公司自有资金或银行并购借款。据相关会计师事务所出具的《专项审计报告》，截至2012年4月30日（评估基准日），屏南旺坑水电总资产为1.9亿元，总负债为1.5亿元，净资产为0.4亿元。由于资产评估机构采用收益法进行评估，屏南旺坑水电的评估价值较净资产溢价675%。

According to July 20 announcement disclosure，Company intends to is not higher than 320 million yuan BingNa acquisition value evaluation leavened pit hydropower 100% equity stake，Capital source for the company from its own funds or bank merger borrowing。According to relevant issued by an accounting firm《Special audit report》，By April 30, 2012（Evaluation through），BingNa prosperous pit total assets of 190 million yuan of electricity and water，Total liabilities for 150 million yuan，Net assets of 040 million yuan。Due to the asset appraisal institution by income method for the evaluation，BingNa prosperous pit hydropower assessment is a 675% premium net assets value。

　　令投资者不满的是，闽东电力将斥资逾3亿元购买的高溢价水电资产实际上质量颇差。从财务数据来看，屏南旺坑水电2009年、2010年、2011年和评估基准日的净利润分别为65.69万元、1619.75万元、负71.17万元和452.94万元。此外，屏南旺坑水电电站工程环保单项竣工验收及工程总决算竣工验收至今还没有完成。

Make a disappointment for investors，Mindong power will spend more than 300 million yuan to buy high premium hydropower assets actually quite poor quality。From a financial data and see，BingNa prosperous pit water and electricity in 2009、2010 years、2011 years and evaluation of the base net profit is 656900 yuan respectively、$16.1975 million、Negative 711700 yuan and 4.5294 million yuan。In addition，BingNa prosperous pit water and electricity power plant project single completion acceptance of environmental protection and total engineering final completion acceptance haven't finished。

　　事实上，早在四年前，即2008年5月，闽东电力高溢价收购劣质水电资产遭投资者反对而作罢的事例已发生过一次。2008年5月8日，公司公告拟变更募集资金用途，将1.37亿元的募集资金用于收购万顺水电100%股权，收购价格不超过1.5亿元。据披露，万顺水电的净资产只有1047万元，闽东电力拟收购的价格较其净资产有近10倍的溢价。此预案同样是甫一公布，便遭到市场尤其是中小投资者的强烈反对。时至5月23日，闽东电力无奈宣布撤销此方案。

In fact，As early as in four years ago，That is in May 2008，Mindong power high premium acquisition inferior hydropower assets were investors against but forget about it examples has happened again。May 8, 2008，The company intends to change to raise funds for public announcement，Will 137 million yuan to raise funds for acquisitions with water and electricity 100% equity stake，The purchase price not more than 150 million yuan。According to the disclosure，With the net assets of the water and electricity is 10.47 million RMB，Mindong power intends to purchase price is more the net assets of nearly 10 times the premium。This plan is also responded with a published，Begins to market, especially small and medium-sized investors of strong opposition。Even May 23，Mindong power but canceled the plan announced。