国联民生证券承销保荐有限公司 关于 河北润农节水科技股份有限公司 详式权益变动报告书 之 2025 年第二季度持续督导意见 二零二五年九月 声明 2024 年 10 月 22 日，湖北省乡村振兴投资集团有限公司（以下简称"湖北乡 投集团"或"收购人"）与薛宝松、李明欣等 11 名交易对方签署《关于河北润农节 水科技股份有限公司之股份转让协议》（以下简称"第一期股权转让协议"），协 议约定薛宝松、李明欣等 11 名交易对方将其直接持有的河北润农节水科技股份 有限公司（以下简称"润农节水"或"上市公司"）47,038,033 股（占上市公司总股 份的 18.01%）以协议转让方式转让给湖北乡投集团。同时约定自第一期股份交 割之日起，润农节水原实际控制人薛宝松与李明欣放弃其持有 19.30%股份的表 决权，表决权放弃自本次股份转让交割日起至第二期股份转让交割日止。 2024 年 12 月 23 日，中国证券登记结算有限责任公司北京分公司出具了《证 券过户登记确认书》，确认第一期协议转让股份过户登记手续已办理完成。第一 期交易完成后，湖北乡投集团成为上市公司控股股东，湖北省人民政府国有资产 监督管理委员会（以下简称" ...

Group 1 - The agricultural comprehensive sector increased by 0.62% on September 10, with Dayu Irrigation leading the gains [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] - Dayu Irrigation's closing price was 5.15, with a rise of 1.58%, and a trading volume of 356,600 shares, amounting to a transaction value of 182 million yuan [1] Group 2 - The net inflow of main funds in the agricultural comprehensive sector was 15.56 million yuan, while retail funds experienced a net outflow of 9.05 million yuan [1] - Dayu Irrigation had a main fund net inflow of 13.48 million yuan, accounting for 7.39% of the total, while retail funds saw a net outflow of 8.70 million yuan, representing a -4.77% net outflow [1] - Huolong Co. had a main fund net inflow of 2.09 million yuan, with a net outflow of retail funds at -1.11% [1]

Market Overview - On September 9, the agricultural sector declined by 0.81% compared to the previous trading day, with Runong Water Saving leading the decline [1] - The Shanghai Composite Index closed at 3807.29, down 0.51%, while the Shenzhen Component Index closed at 12510.6, down 1.23% [1] Individual Stock Performance - Huilong Co., Ltd. (002556) closed at 5.63, down 0.35% with a trading volume of 86,800 shares and a transaction value of 48.87 million yuan [1] - Dayu Water Saving (300021) closed at 5.07, down 1.36% with a trading volume of 261,900 shares and a transaction value of 133 million yuan [1] - Runong Water Saving (830964) closed at 8.29, down 1.66% with a trading volume of 46,800 shares and a transaction value of 38.91 million yuan [1] Capital Flow Analysis - The agricultural sector experienced a net outflow of 9.36 million yuan from main funds, while retail funds saw a net inflow of 10.02 million yuan [1] - Dayu Water Saving had a main fund net outflow of 4.04 million yuan, with retail funds contributing a net inflow of 7.29 million yuan [1] - Huilong Co., Ltd. faced a main fund net outflow of 5.32 million yuan, while retail funds had a net inflow of 2.73 million yuan [1]

Group 1 - The agricultural comprehensive sector increased by 0.63% on September 5, with Runong Water Saving leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] - Runong Water Saving's closing price was 8.45, with a rise of 2.67%, and a trading volume of 71,500 shares [1] Group 2 - The net inflow of main funds in the agricultural comprehensive sector was 2.17 million yuan, while retail investors experienced a net outflow of 4.64 million yuan [1] - The main net inflow for Huilong Co. was 1.69 million yuan, accounting for 3.13% of the total, while retail investors had a net outflow of 2.21 million yuan [1] - Dayu Water Saving saw a main net inflow of 478,400 yuan, with retail investors experiencing a net outflow of 2.44 million yuan [1]

Group 1 - The agricultural sector index increased by 1.24% on September 4, with Runong Irrigation leading the gains [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] - Key stocks in the agricultural sector showed the following performance: Runong Irrigation at 8.23 with a rise of 1.48%, Huilong Co. at 5.58 with a rise of 1.27%, and Dayu Irrigation at 5.05 with a rise of 1.20% [1] Group 2 - The agricultural sector saw a net inflow of 11.39 million yuan from main funds, while retail funds experienced a net outflow of 1.12 million yuan [1] - Specific stock fund flows included: Dayu Irrigation with a main fund inflow of 7.52 million yuan and a retail fund outflow of 2.37 million yuan, and Huilong Co. with a main fund inflow of 3.86 million yuan and a retail fund inflow of 1.25 million yuan [1]

Group 1 - The agricultural comprehensive sector increased by 0.74% on August 29, with Runong Irrigation leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] - Runong Irrigation's closing price was 8.18, with a gain of 0.37%, while Huilong Co. and Dayu Irrigation saw minor changes in their stock prices [1] Group 2 - The main funds in the agricultural comprehensive sector experienced a net outflow of 38.34 million yuan, while retail investors saw a net inflow of 32.71 million yuan [1] - Huilong Co. had a net outflow of 2.91 million yuan from main funds, while Dayu Irrigation faced a significant net outflow of 35.43 million yuan [1] - Retail investors contributed positively to the net inflow for both Huilong Co. and Dayu Irrigation, with 4.63 million yuan and 28.08 million yuan respectively [1]

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company is experiencing a significant increase in revenue due to the continuous expansion into new markets, particularly in the southwest region of China, driven by government initiatives for high-standard farmland construction [7] - The company reported a total revenue of 302 million yuan in H1 2025, a year-on-year increase of 5.80%, while the net profit attributable to shareholders decreased by 47.05% to 5.27 million yuan, primarily due to credit impairment losses [7] - The company is actively developing a smart agriculture platform and expanding its market presence, including new ventures in Hubei and enhanced operations in several provinces [7] Financial Summary - Total revenue projections for the company are as follows: 2023A: 749.57 million yuan, 2024A: 983.58 million yuan, 2025E: 1,218.07 million yuan, 2026E: 1,509.00 million yuan, and 2027E: 1,809.83 million yuan, with year-on-year growth rates of 13.59%, 31.22%, 23.84%, 23.88%, and 19.94% respectively [1] - The net profit attributable to shareholders is projected to be 33.29 million yuan in 2023A, 7.95 million yuan in 2024A, 41.01 million yuan in 2025E, 53.43 million yuan in 2026E, and 67.12 million yuan in 2027E, with significant growth expected in 2025 [1] - The company's earnings per share (EPS) is forecasted to be 0.13 yuan in 2023A, 0.03 yuan in 2024A, 0.16 yuan in 2025E, 0.20 yuan in 2026E, and 0.26 yuan in 2027E [1]

证券代码：830964 证券简称：润农节水 公告编号：2025-093 河北润农节水科技股份有限公司 关于新增 2025 年日常性关联交易的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带法律责任。 一、 日常性关联交易预计情况 （一） 预计情况 公司分别于 2025 年 4 月 15 日、2025 年 5 月 8 日召开第四届董事会第十二次会议 和 2024 年年度股东会，审议通过了《关于预计 2025 年日常性关联交易的议案》，具体 内容详见公司于 2025 年 4 月 16 日在北京证券交易所指定信息披露平台（www.bse.cn） 披露的《关于预计 2025 年日常性关联交易的公告》（公告编号：2025-045）。 因公司及子公司业务发展需要，本次需新增预计日常性关联交易，具体情况如下： 单位：元 | 关联交易类别 | 主要交易内容 | 原预计金额 | 累计已发生 | 新增预计发生 | 调整后预计发生 | 上年实际发生 | 调整后预计金额与上年 实际发生金额差异较大 | | --- | --- | -- ...

证券代码：830964 证券简称：润农节水 公告编号：2025-061 河北润农节水科技股份有限公司 关于向金融机构申请调增综合授信总额度的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 一、申请授信的基本情况 （一）、公司现有授信额度情况： （1）2025 年 1 月 7 日，河北润农节水科技股份有限公司（以下简称"公 司""母公司"）第四届董事会第十次会议和第四届监事会第十次会议分别审议通 过了《关于预计 2025 年度向金融机构申请综合授信额度的议案》，同意公司向 金融机构申请综合授信额度，时点总额不超过人民币 4.00 亿元（含 4.00 亿元）。 上述议案于 2025 年 1 月 23 日经股东会审议通过，内容详见公司 2025 年 1 月 8 日在北京证券交易所信息披露平台（www.bse.cn）上披露的《关于预计 2025 年 度向金融机构申请综合授信额度的公告》（公告编号：2025-007）。 （2）2025 年 4 月 15 日，公司第四届董事会第十二次会议和第四届监事会 第十一次 ...

河北润农节水科技股份有限公司 证券代码：830964 证券简称：润农节水 公告编号：2025-058 关于取消监事会并拟修订《公司章程》公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、修订内容 根据《中华人民共和国公司法》《上市公司章程指引》及《北京证券交易所 股票上市规则》等相关规定，结合公司实际，公司拟取消监事会，监事会的职权 由董事会审计与风险委员会行使；公司拟修订《公司章程》的部分条款，其中， 将"股东大会"统一修改为"股东会"，相关条款较多，且不涉及实质性条款内 容变更，不作单独列示。其他条款修订对照如下： | 原规定 | 修订后 | | --- | --- | | 第二条 公司系依照《公司法》及 | 第二条 公司系依照《公司法》及 | | 其他法律法规和规范性文件的规定，由 | 其他法律法规和规范性文件的规定，由 | | 唐山润农节水科技有限公司（以下称 | 唐山润农节水科技有限公司（以下称 | | "有限公司"）整体变更设立的股份有限 | "有限公司"）整体变更设立的股份有限 | ...