中国国际金融股份有限公司 关于武汉三镇实业控股股份有限公司 二、上市公司内幕信息知情人登记制度的执行情况 上市公司多次督促、提示内幕信息知情人严格遵守保密制度，履行保密义 务，在内幕信息依法披露前，不得公开或泄露内幕信息，不得利用内幕信息买 卖上市公司股票。 为了维护投资者利益，避免对上市公司股价造成重大影响，上市公司分别 于2025年2月21日和2025年2月28日发布了《关于筹划发行股份及支付现金购买 资产并配套募集资金暨关联交易事项的停牌公告》（公告编号：临2025-001号） 和《关于筹划发行股份及支付现金购买资产并募集配套资金暨关联交易事项的 停牌进展公告》（公告编号：临2025-002号）。 上市公司与本次交易的相关方按照规定签署了保密协议或在相关协议中对 于本次交易相关的信息保密事项进行了约定。 上市公司严格按照《上市公司监管指引第5号——上市公司内幕信息知情人 登记管理制度》等相关规定，及时记录筹划方案、形成决议等阶段的内幕信息 知情人及筹划过程，编制了《内幕信息知情人登记表》及《交易进程备忘录》， 并及时报送上海证券交易所。 上市公司将在董事会审议本次交易的正式方案并披露后，向中国证券登记 ...

Core Viewpoint - The legal opinion issued by Hubei Ruitong Tianyuan Law Firm confirms that Wuhan Urban Construction Investment Development Group Co., Ltd. is exempt from making a tender offer in relation to its acquisition of 100% equity in Wuhan Municipal Engineering Design and Research Institute Co., Ltd. through the issuance of shares and cash payment [1][5][7] Group 1: Transaction Overview - The transaction involves Wuhan Urban Construction Investment Development Group acquiring 100% equity of Wuhan Municipal Engineering Design and Research Institute from Wuhan San Zhen Industrial Holding Co., Ltd. [1][5] - The acquisition will be financed through the issuance of shares and cash, with the issuance aimed at raising supporting funds from no more than 35 specific investors [1][5] Group 2: Legal Compliance - The law firm confirms that the transaction complies with the relevant laws and regulations, including the Company Law, Securities Law, and the Regulations on the Management of Acquisitions of Listed Companies [2][3][6] - The law firm has verified that all necessary documents and approvals are in place, ensuring the legality and validity of the transaction [2][4] Group 3: Shareholding Structure - Post-transaction, Wuhan Urban Construction Investment Development Group is expected to hold 20.79% of the shares directly and 31.83% indirectly through Wuhan Water Group, totaling 52.61% control over the listed company [5][6] - The transaction triggers a mandatory tender offer obligation; however, it meets the conditions for exemption as outlined in the acquisition regulations [6][7] Group 4: Approval Process - The transaction has received necessary approvals, including independent opinions from the company's independent directors, and is pending final approval from the shareholders' meeting [7]

Core Viewpoint - Wuhan San Zhen Industrial Holdings Co., Ltd. plans to acquire 100% equity of Wuhan Municipal Engineering Design and Research Institute Co., Ltd. through issuing shares and cash payment, while also raising supporting funds by issuing shares to no more than 35 specific investors [1][3] Industry and Company Summary - The main business of the listed company includes sewage treatment, water engineering construction, tap water production, and tunnel operation, while the target company specializes in surveying design, engineering consulting, and project management [1][2] - The listed company operates in the "D46 Water Production and Supply Industry" under "D462 Sewage Treatment and Reuse," while the target company falls under "M74 Professional Technical Services" in "M748 Engineering Technology and Design Services" [2] - The transaction is classified as a merger within the same industry or upstream/downstream acquisition, enhancing the listed company's capabilities in integrated services from planning to operation and maintenance [3][4] - Post-transaction, the listed company will expand its business to include the target company's existing services, creating new revenue and profit growth points [3][4] - The transaction is not expected to change the actual controller of the listed company, thus it does not constitute a restructuring listing [4]

Core Viewpoint - The transaction involving Wuhan San Town Industrial Holdings Co., Ltd. to acquire 100% equity of Wuhan Municipal Engineering Design Institute from Wuhan Urban Construction Investment Development Group does not constitute a major asset restructuring but qualifies as a related party transaction [1][2]. Summary by Sections Major Asset Restructuring - The transaction does not meet the criteria for a major asset restructuring as defined by the "Major Asset Restructuring Management Measures" since the relevant indicators of the target company do not exceed 50% of the corresponding indicators of the listed company for 2024 [2]. Related Party Transaction - The transaction is classified as a related party transaction because the counterparty, Wuhan Urban Construction Investment Development Group, is the parent company of the controlling shareholder of the listed company, and the target company is a wholly-owned subsidiary of the counterparty [2]. Restructuring Listing - The transaction does not constitute a restructuring listing as the actual controller of the listed company remains the Wuhan Municipal Government State-owned Assets Supervision and Administration Commission before and after the transaction, and there has been no change in control within the last thirty-six months [2].

本独立财务顾问对上市公司在本次交易前 12 个月内发生的购买、出售资产 情况进行了核查。经核查，本独立财务顾问认为：截至本核查意见出具日，本次 交易前 12 个月内，上市公司未发生《上市公司重大资产重组管理办法》规定的 与本次交易相关的重大购买、出售资产的交易行为，不存在需要纳入累计计算范 围的情形。 （以下无正文） （本页无正文，为《中国国际金融股份有限公司关于武汉三镇实业控股股份 有限公司本次发行股份及支付现金购买资产并募集配套资金暨关联交易前 12 个 月内购买、出售资产情况的核查意见》的签章页） 独立财务顾问主办人： 李雅芸 胡海锋 卓芊任 梁宝月 中国国际金融股份有限公司 中国国际金融股份有限公司 关于武汉三镇实业控股股份有限公司 本次发行股份及支付现金购买资产并募集配套资金暨关联交易 前 12 个月内购买、出售资产情况的核查意见 武汉三镇实业控股股份有限公司（以下简称"上市公司"）拟通过发行股份 及支付现金的方式购买武汉市政工程设计研究院有限责任公司（以下简称"武汉 市政院"）100%的股份，并募集配套资金（以下简称"本次交易"）。中国国 际金融股份有限公司（以下简称"本独立财务顾问"）作为本次交 ...

Group 1 - The transaction involves the acquisition of 100% equity of Wuhan Municipal Institute by the company through issuing shares and cash payment, making the target company a wholly-owned subsidiary post-transaction [1][2] - The company plans to raise funds from no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price, and the number of shares issued not exceeding 30% of the total share capital after the transaction [2][3] - The raised funds will be used for cash payment for the transaction, intermediary fees, taxes, and to support the target company's ongoing projects and working capital [2][3] Group 2 - The transaction is expected to enhance the company's financial metrics, with total assets increasing from approximately 2,387.44 million to 2,624.53 million, a change of 9.93% [3] - The company's net profit is projected to rise significantly, with an increase from 3,162.67 million to 4,782.60 million, reflecting a growth rate of 51.22% [4] - Post-transaction, the company's basic earnings per share are expected to increase by 0.03 yuan per share for 2024 and 0.01 yuan per share for the first quarter of 2025, indicating no dilution of immediate returns [4][5]

上市公司 A 股股价在停牌前 20 个交易日内的累计涨幅为 6.09%；扣除同期 上证指数累计涨幅 3.83%后，上市公司股票价格累计涨幅为 2.26%；扣除同期证 监会水生产供应行业指数行业指数累计涨幅 0.87%后，上市公司股票价格累计涨 幅为 5.22%，未超过 20%。 经核查，本独立财务顾问认为：上市公司股票价格在本次交易首次公告前 达到《上海证券交易所上市公司自律监管指引第 6 号——重大资产重组》规定的 相关标准，不存在异常波动情况。 关于本次交易信息发布前公司股票价格波动情况的核查意见 武汉三镇实业控股股份有限公司（以下简称"上市公司"）拟向武汉市城市 建设投资开发集团有限公司发行股份及支付现金购买其持有的武汉市政工程设 计研究院有限责任公司 100%股权，并向不超过 35 名特定投资者发行股份募集配 套资金（以下简称"本次交易" ）。中国国际金融股份有限公司（以下简称"本独 立财务顾问"）作为本次交易的独立财务顾问，就本次交易信息公布前股票价格 波动是否达到《上海证券交易所上市公司自律监管指引第 6 号——重大资产重组》 相关标准进行了核查，具体如下： 因筹划本次交易事项，经向上海证券交易所 ...

Company Overview - Wuhan San Zhen Industrial Holding Co., Ltd. was established in 1997 and approved by the Wuhan Municipal Government [1] - The company was publicly listed in 1998, with an initial total share capital of 34 million shares [1][2] - The company is primarily engaged in urban water supply and drainage, sewage treatment, and infrastructure management [3] Capital Increase and Share Issuance - In 1999, the company increased its total share capital to 40.8 million shares through a capital reserve conversion [2] - Following further capital increases, the total share capital reached 44.115 million shares after a rights issue [2] - The company plans to issue shares and pay cash to acquire 100% equity of Wuhan Municipal Engineering Design and Research Institute [5][6] Asset Acquisition Details - The transaction price for the acquisition of the design institute is set at RMB 1.600633 billion, with 85% paid in shares and 15% in cash [5] - The share issuance price is determined to be RMB 5.22 per share, based on the average trading price of the company's shares [5] - The company intends to raise funds from no more than 35 specific investors to support the acquisition [6] Financial Reporting and Accounting Policies - The financial statements are prepared under the assumption that the acquisition will be completed by January 1, 2024 [7] - The company follows the accounting standards for business combinations, treating the acquisition as a transaction under common control [7] - The financial statements reflect the company's financial position and operating results as of March 31, 2025, and December 31, 2024 [7]

Core Viewpoint - The independent financial advisor, China International Capital Corporation (CICC), has conducted a compliance review regarding the hiring of third-party institutions for the asset acquisition project by Wuhan Three Towns Industrial Holdings Co., Ltd., confirming that all actions are in accordance with the relevant regulations on integrity and risk prevention in investment banking [2][5][6]. Summary by Sections Third-Party Hiring Compliance - CICC plans to hire Beijing Tongshang Law Firm as the legal advisor and has already engaged Zhongshun Yatai Accounting Firm as the accounting advisor for the project to mitigate legal and financial risks [2][4]. - Beijing Tongshang Law Firm was established on May 16, 1992, and holds a valid license for securities legal services [3]. - Zhongshun Yatai Accounting Firm was founded on January 18, 2013, and is also qualified to engage in securities-related services [3]. Legal and Accounting Services - The legal services provided by Tongshang include assisting in legal due diligence, drafting and reviewing legal documents, and compiling project-related work papers [4]. - The accounting services from Zhongshun Yatai involve similar support in collecting and organizing project documentation [4][5]. Internal Review Procedures - CICC has established a standardized contract for hiring legal and accounting services, ensuring clarity in service content, fee arrangements, and mutual rights and obligations [6]. - The project team evaluates potential firms based on qualifications, experience, resources, reputation, and fee standards before finalizing the hiring process [6]. Conclusion of Compliance Review - CICC concludes that the hiring of Tongshang and Zhongshun Yatai is compliant with regulations, and there are no other direct or indirect third-party hires beyond those mentioned [5][6].

湖北瑞通天元律师事务所 关于武汉三镇实业控股股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易的法律意见书 鄂瑞天非诉字〔2025〕第 1070 号 天元 TIANYUAN 地址：湖北省武汉市江汉区青年路 278 号武汉中海中心 19-20 层 电话：027-59625780 传真：027-59625789 法律意见书 法律意见书 第一部分 前 言 致：武汉三镇实业控股股份有限公司 湖北瑞通天元律师事务所接受武汉三镇实业控股股份有限公司的委托，就武 汉三镇实业控股股份有限公司发行股份及支付现金购买资产并募集配套资金暨 关联交易出具法律意见书。 为出具本法律意见书，本所根据《中华人民共和国公司法（2023 年修订）》 《中华人民共和国证券法（2019 年修订）》《上市公司重大资产重组管理办法 （2025 年修订）》《上市公司证券发行注册管理办法（2025 年修订）》《上海 证券交易所股票上市规则（2025 年 4 月修订）》《律师事务所从事证券法律业 务管理办法》（以下简称《证券法律业务管理办法》）、《律师事务所证券法律 业务执业规则（试行）》（以下简称《证券法律业务执业规则》）等法律、行政 法 ...