11.（1）昌盛公司受托對意向收購方進(jìn)行登記管理不符合規(guī)定。根據(jù)有關(guān)法律規(guī)定，對征集到的意向受讓方由產(chǎn)權(quán)交易機(jī)構(gòu)負(fù)責(zé)登記管理，產(chǎn)權(quán)交易機(jī)構(gòu)不得將對意向受讓方的登記管理委托轉(zhuǎn)讓方進(jìn)行。在本題中，產(chǎn)權(quán)交易機(jī)構(gòu)委托昌盛公司對意向收購方進(jìn)行登記管理不符合規(guī)定。
（2）由產(chǎn)權(quán)交易機(jī)構(gòu)對意向收購方進(jìn)行資格審查不符合規(guī)定。根據(jù)有關(guān)法律規(guī)定，產(chǎn)權(quán)交易機(jī)構(gòu)要與轉(zhuǎn)讓方按照有關(guān)標(biāo)準(zhǔn)和要求對登記的意向受讓方共同進(jìn)行資格審查。在本題中，意向受讓方資格審查，應(yīng)該由產(chǎn)權(quán)交易機(jī)構(gòu)和昌盛公司共同進(jìn)行。
（3）確定由昌盛公司以協(xié)議轉(zhuǎn)讓的方式轉(zhuǎn)讓所持M公司出資額符合規(guī)定。根據(jù)有關(guān)法律規(guī)定，經(jīng)公開征集只產(chǎn)生一個受讓方的，可以采取協(xié)議轉(zhuǎn)讓的方式。在本題中，由于只有N公司1家符合條件，因此采取協(xié)議轉(zhuǎn)讓的方式符合規(guī)定。
12.（1）H公司提出的優(yōu)先購買昌盛公司持有的M公司出資額的條件不成立。根據(jù)有關(guān)法律規(guī)定，有限責(zé)任公司的股東向股東以外的人轉(zhuǎn)讓出資時，在同等條件下，其它股東對該出資有優(yōu)先購買權(quán)。H公司提出的條件并不是同等條件，因此不符合規(guī)定。
（2）H公司對昌盛公司轉(zhuǎn)讓出資額事項表示反對又不購買時，昌盛公司可以將出資額轉(zhuǎn)讓給N公司。根據(jù)有關(guān)法律規(guī)定，有限責(zé)任公司的股東向股東以外的人轉(zhuǎn)讓出資時，不同意轉(zhuǎn)讓的股東應(yīng)當(dāng)購買該轉(zhuǎn)讓的出資，如果不購買該轉(zhuǎn)讓的出資，視為同意轉(zhuǎn)讓。在本題中，如果H公司對昌盛公司轉(zhuǎn)讓出資額事項表示反對，又不能按照N公司的同等價格購買，視為同意轉(zhuǎn)讓，因此，昌盛公司可以將出資額轉(zhuǎn)讓給N公司。
13.（1）N公司公告所安排的召開臨時股東大會的時間符合規(guī)定。根據(jù)有關(guān)法律規(guī)定，臨時股東大會應(yīng)當(dāng)于會議召開15日前通知各股東。在本題中，N公司董事會5月8日發(fā)布公告，于6月12日召開臨時股東大會的通知時間符合規(guī)定。
（2）N公司擬受讓昌盛公司轉(zhuǎn)讓的出資額的事項獲得了臨時股東大會的批準(zhǔn)。根據(jù)有關(guān)法律規(guī)定，上市公司重大資產(chǎn)重組（一年內(nèi)購買、出售資產(chǎn)達(dá)到或超過資產(chǎn)總額30%的），應(yīng)當(dāng)由股東大會作出決議，并經(jīng)出席會議的股東所持表決權(quán)的2／3以上通過。在本題中，N公司擬以每1元出資額2.8元的價格購買昌盛公司持有的M公司4000萬股，超過N公司資產(chǎn)總額30%，應(yīng)當(dāng)經(jīng)出席股東大會的股東所持表決權(quán)2/3以上同意，而本題出席該次臨時股東大會的非流通股股東全部投了贊成票，占65%；社會公眾股股東投贊成票的股份達(dá)到出席本次會議社會公眾股股東所持股份總額的45%（社會公眾股股東出席的有20%股份，20%的45%是9%，即達(dá)到出席會議的股東所持表決權(quán)的9%） ，合計贊成的股東所持表決權(quán)（65%＋9%＝74%）已超過出席會議的股東所持表決權(quán)的2/3。
14.The net profit of company E＝（150－ 700×6%）×（1－ 25%）＝81（萬元）
The operating profit after tax of company E ＝81＋700 ×6% ×（1－ 25% ）＝112.5（萬元）
The EVA of company E＝112.5－1500×5.5% ＝30（萬元）
Net profit of company F＝（100－200×6%）×（1－25%）＝66（萬元）
The operating profit after tax of company F＝66＋200×6%×（1－25%）＝75（萬元）
The EVA of company F＝75－1000×5.5%＝20（萬元）
The performance of company E is better than company F from the angle of EVA.
Merits: （1） it focuses on the process of value creation，which is consistent with the goal of increasing shareholder wealth; （2） It prevents sub-optimization and can better coordinate the interest conflicts among different departments; （3） In the framework of EVA, the company can declare their goals and achievements, and the investors can choose the most promising company by EVA.
Demerits: （1） It is an absolute indicator and cannot compare the performance of different companies or departments with different scales; （2） This indicator can mislead the users. For example, for a company the EVA is low in the growth phase, but the EVA is high in the decline phase. （3）There are many disputes in calculating the EVA, i.e. what should be included in the basic investment, what adjustment should be made for net earnings and how to fix the cost of capital.
15.Dear, sir:
I am writing to you to demonstrate the risks that our company is facing so as to take measures to deal with the risks.
They are listed as follows:
Credit risk.
Our primary clients are the building contractors, project developers, who always ask the suppliers to advance the funds to some extent, and it always takes long time for settlement. Because the business is increasing rapidly, and at the same time, under the current mode of tender, the clients takes the form of payment as the significant clauses for choosing the suppliers which result in the fast increase in account receivables.
If we cannot get the payments back in time. the service efficiency of the funds and the safety of the assets will be influenced, and then the performance of our company.
Price risk of commodities.
The costs of the raw materials account for a large percentage of the product costs, and our primary raw material belongs to the petrochemicals, which is largely affected by the international crude oil market. So if the price of the raw materials fluctuates substantially, the profitability of our company will be adversely influenced,
Exchange rate risk.
Some products are exported abroad, which is vulnerable to the change in exchange rate.
Product risk
New products are facing the risks whether they can be accepted by the clients, and the old products are facing the risks in the competition from prices.
Operational risk
With the implementation of the expansion, the existing employees cannot satisfy the rapidly increasing requirement of the human resources, and it is difficult for the new employees to get involved in the corporate culture in the short-term, which will influence the achievement of corporate strategy and operational objectives.operational risk.
In sum，we really need to take measures to respond to the business risks, otherwise the performance of our company this year, even in the future will be significantly influenced.
Yours
Faithfully
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