瀚蓝环境私有化粤丰环保的交易于2025年6月2日正式完成交割，粤丰环保从港交所退市，标志着这场历 时近一年、交易额达119.5亿港元的环保行业最大并购案圆满落幕。 瀚蓝的"并购基因"与行业预判 瀚蓝环境的成长史堪称一部"并购史"：从2006年并购南海环保电厂切入垃圾焚烧领域，2014年"蛇吞 象"收购创冠中国实现规模跃升，到此次私有化粤丰环保，均以并购驱动规模与技术升级。此次交易 后，瀚蓝生活垃圾焚烧日处理能力从4.51万吨跃升至9.76万吨，跻身行业前三、A股第一，固废主业优 势进一步夯实。 此次并购被明确写入瀚蓝"十四五"战略，是其对环保行业进入存量整合时代的精准预判——增量市场见 顶后，头部企业通过并购优化资源配置、提升运营效率成为必然选择。 - 利润增厚：粤丰环保2023年净利润9.07亿元，并购后预计为瀚蓝2025—2026年分别贡献利润2亿元、 4.12亿元； - 现金流优化：粤丰2023年经营性现金流19.35亿港元，瀚蓝可依托其融资优势优化债务结构，年节省利 息或达2.21亿港元； - 分红承诺强化：瀚蓝承诺2024—2026年每股现金分红年增不低于10%，并购后自由现金流提升支撑回 报能力。 ...

6月2日，瀚蓝环境（600323）发布公告称，私有化收购粤丰环保的所有条件达成，粤丰环保自当天下午 4时起于香港联交所撤销上市地位。自2024年7月官宣以来，该项百亿级重大并购计划引发广泛关注，历 经近一年终于圆满完成。 此次重大并购将对我国环保行业格局带来哪些变化和影响？对于提升并购重组市场活力有哪些示范效 应？日前，中国证券报记者独家专访了瀚蓝环境总裁金铎，全面了解此次并购计划的前后历程及公司未 来发展规划。 ● 本报记者 武卫红 并购计划成功落地 2024年7月7日，瀚蓝环境发布公告称，公司正在筹划通过间接子公司瀚蓝香港以协议安排方式私有化收 购粤丰环保，整体金额约为119.5亿港元。 一纸公告，迅速引发外界密切关注。瀚蓝环境是"中国环境企业十强"之一，粤丰环保是广东省最大的垃 圾焚烧发电企业，行业影响力较大，且并购金额巨大，又横跨A股和H股两个市场，双方并购重组究竟 有哪些重要考量因素？ "早在2020年，瀚蓝环境在制定未来五年发展规划的时候，就明确提出通过并购重组扩大业务规模、提 升市场份额，为公司长远发展奠定基础。"金铎表示，去年以来国家出台新"国九条"等一系列重磅政 策，进一步激发并购重组市场活 ...

6月2日，瀚蓝环境发布公告称，私有化收购粤丰环保的所有条件达成，粤丰环保自当天下午4时起于香 港联交所撤销上市地位。自2024年7月官宣以来，该项百亿级重大并购计划引发广泛关注，历经近一年 终于圆满完成。 此次重大并购将对我国环保行业格局带来哪些变化和影响？对于提升并购重组市场活力有哪些示范效 应？日前，中国证券报记者独家专访了瀚蓝环境总裁金铎，全面了解此次并购计划的前后历程及公司未 来发展规划。 ● 本报记者 武卫红 并购计划成功落地 2024年7月7日，瀚蓝环境发布公告称，公司正在筹划通过间接子公司瀚蓝香港以协议安排方式私有化收 购粤丰环保，整体金额约为119.5亿港元。 "早在2020年，瀚蓝环境在制定未来五年发展规划的时候，就明确提出通过并购重组扩大业务规模、提 升市场份额，为公司长远发展奠定基础。"金铎表示，去年以来国家出台新"国九条"等一系列重磅政 策，进一步激发并购重组市场活力，公司积极响应国家号召，紧紧抓住机遇，积极谋划并一步步推动并 购计划实施。 2000年12月，瀚蓝环境在上交所上市。上市以来，瀚蓝环境通过并购重组连续跨越发展，最终发展成为 全国环保行业第一梯队企业。2006年，公司成功并 ...

本次并购完成，也意味着瀚蓝环境"十四五"战略目标初步达成。回顾瀚蓝环境的发展历程，数次跨越式 发展均是以"战略并购"为抓手得以实现。从2006年并购南海环保电厂，到2014年并购创冠中国，到后来 纵横一体化产业链延伸，再到如今并购粤丰环保，并购引领发展，已成为瀚蓝企业发展的重要方程式。 目前，瀚蓝环境的垃圾焚烧规模达到97590吨/日，国内行业排名前三、A股上市公司首位。公司下辖6个 事业部和1个企业研究院，其中原粤丰环保的垃圾焚烧业务被列入瀚蓝固废事业二部。 本报讯 （记者丁蓉）6月2日，瀚蓝环境股份有限公司（以下简称"瀚蓝环境"）官微发布消息，5月31 日，瀚蓝环境私有化粤丰环保所有条件达成，粤丰环保于6月2日从香港联交所退市。至此，瀚蓝环境并 购粤丰环保正式完成，踏上新的征程。 2024年以来，国务院、证监会出台多项政策，进一步激发上市公司并购重组市场活力，鼓励战略性并购 重组和资源整合，从政策指导支撑、产业发展趋势、金融赋能等方面推动上市公司及大型企业集团 从"规模扩张"向"价值创造"跃升，通过并购重组实现创新技术融合发展、生产要素优化配置、产业深度 转型，逐步提高盈利能力、综合竞争力和产业链主导力。 ...

Core Viewpoint - The completion of the major asset restructuring by Hanlan Environment significantly enhances its market influence and comprehensive strength in the solid waste treatment industry, positioning it among the top players in the sector [1][2]. Group 1: Restructuring and Market Position - Hanlan Environment's acquisition of Yuefeng Environmental has been completed, marking a significant milestone in the solid waste treatment industry [1][2]. - The restructuring allows Hanlan Environment to maintain its leading position in the solid waste treatment sector, with a total waste processing capacity of 97,590 tons per day, ranking it among the top three in China and first in A-shares [3][4]. - The acquisition is expected to enhance the company's operational efficiency and environmental value, enabling it to leverage high-quality resources for innovative development [1][3]. Group 2: Financial Performance and Shareholder Returns - Following the merger, Hanlan Environment's revenue is projected to reach 13.1 billion yuan, with total assets exceeding 64 billion yuan, solidifying its financial strength [3][4]. - The company has committed to increasing shareholder returns, with a planned cash dividend of 6.52 billion yuan in 2024, a 68% increase year-on-year, and a target of at least 10% growth in cash dividends over the next two years [4][5]. Group 3: Synergy and Operational Efficiency - The merger is expected to create significant synergy effects, enhancing operational efficiency through the integration of existing resources and advanced management systems [5][6]. - Hanlan Environment aims to optimize its supply chain management and leverage technological innovations, such as AI, to improve waste-to-energy efficiency and reduce costs [6][7]. - The company plans to expand its heat supply business, capitalizing on the synergies from Yuefeng Environmental's projects, which will further enhance profitability [5][6]. Group 4: Industry Context and Future Outlook - The solid waste treatment industry is transitioning from an expansion phase to a consolidation phase, with leading companies accelerating resource integration [2][3]. - Hanlan Environment's successful acquisition serves as a valuable example for future consolidations in the environmental sector, providing a framework for high-quality development [2][7].

Meeting Information - The shareholder meeting is scheduled for June 27, 2025, at 14:30 [1] - The meeting will be held at the conference room on the 10th floor of Grand Blue Plaza, No. 23 Ronghe Road, Guicheng Street, Nanhai District, Foshan City, Guangdong Province [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's online voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange's online voting system, either through the trading system or the internet voting platform [2][3] - Voting times for the online platform are from 9:15 to 15:00 on the day of the meeting [1] - Shareholders with multiple accounts can aggregate their voting rights across all accounts [3] Meeting Attendance - Shareholders registered by the close of trading on June 19, 2025, are eligible to attend the meeting [4] - Attendance can be in person or through a written proxy, who does not need to be a shareholder [4] - Registration for attendance must be completed by June 20, 2025, with specific documentation required [5] Additional Information - The meeting will last half a day, and shareholders are responsible for their own travel and accommodation expenses [5] - Contact information for inquiries includes a phone number and email address [5]

Core Viewpoint - The company has revised its Articles of Association to enhance corporate governance and comply with the latest legal requirements, including the abolition of the supervisory board, with its functions transferred to the audit committee of the board of directors [1][2]. Summary by Sections Company Governance - The company will no longer have a supervisory board, and its powers will be assumed by the audit committee of the board of directors [1]. - The revised Articles of Association will be submitted for approval at the shareholders' meeting, which will also authorize the management to handle the necessary registrations [1]. Articles of Association Changes - The first article emphasizes the protection of the rights of the company, shareholders, employees, and creditors, aligning with the latest laws and regulations [3]. - The eighth article states that the general manager serves as the legal representative of the company, and their resignation is considered a simultaneous resignation from this role [4]. - The ninth article introduces a provision that the company will bear civil liability for damages caused by the legal representative in the course of their duties [5]. - The revised articles clarify the rights and obligations of shareholders, ensuring equal rights for shareholders of the same class of shares [6][7]. - The company’s capital structure and the issuance of shares will adhere to principles of fairness and equality, with specific conditions for share issuance detailed [8][9]. Shareholder Rights and Responsibilities - Shareholders have the right to request information, participate in meetings, and supervise the company's operations [14][15]. - The revised articles outline the obligations of shareholders, including compliance with laws and regulations, and the prohibition of actions that harm the company or other shareholders [19][20]. Control and Management - The revised articles impose obligations on controlling shareholders and actual controllers to act in the best interest of the company and not to misuse their power [42][43]. - Specific provisions are included to maintain the independence of the company's operations, finances, and personnel from the controlling shareholders [46][47].

Core Points - The company held its 29th meeting of the 11th Board of Directors on May 30, 2025, where all 9 directors attended, and the meeting was deemed legally valid [1][2]. - The board approved several resolutions, including the confirmation of conditions for a major asset restructuring project, adjustments to the organizational structure, and amendments to the company's articles of association [1][2][3]. - The board also approved revisions to certain governance systems and decided to submit specific proposals to the shareholders' meeting for further review [2][3]. Summary by Categories Major Asset Restructuring - The board confirmed that the transaction conditions for the major asset restructuring project have been met, with unanimous approval from all directors [1]. Organizational Structure - The board approved adjustments to the company's organizational structure, with all directors voting in favor [2]. Amendments to Articles of Association - The board approved revisions to the company's articles of association and its attachments, with unanimous support from the directors [2]. Governance Systems - The board approved revisions to several governance documents, including the implementation rules for various committees, all receiving unanimous approval [2]. - The board decided to submit the revised independent director work system, dividend management system, and other related documents to the shareholders' meeting for approval [2].

General Provisions - The implementation rules for the Compensation and Assessment Committee of the Board aim to standardize operations and improve the governance structure of the company [1][2] - The committee is responsible to the Board and operates according to relevant laws and the company's articles of association [1] Composition of the Committee - The Compensation and Assessment Committee consists of three to five directors, with a majority being independent directors [2] - The committee members are nominated by the chairman or a majority of independent directors and elected by the Board [2] Responsibilities - The committee is tasked with establishing assessment standards for directors and senior management, reviewing compensation mechanisms, and making recommendations to the Board on various matters [4] - The Board has the authority to reject compensation plans that may harm shareholder interests [4] Meeting Rules - The committee must hold at least one meeting annually, with a quorum of two-thirds of members present [5][6] - Meetings can be conducted in person or via other means, ensuring all members can communicate effectively [5][6] Voting and Documentation - Each committee member has one vote, and decisions require a majority approval [6][7] - Meeting records must be kept, and members are bound by confidentiality regarding discussed matters [7] Supplementary Provisions - Any matters not covered by these rules will follow national laws and regulations [7] - The rules are subject to revision and interpretation by the Board and take effect upon approval [7]

瀚蓝环境股份有限公司 董事会提名委员会实施细则 （2025 年 5 月修订） 第一章 总则 第一条 为规范董事会提名委员会的运作，规范公司董事及高级管理人员的产生， 优化董事会组成，完善公司治理结构，根据《中华人民共和国公司法》、《上市公司治理 准则》《上市公司章程指引》《上市公司独立董事管理办法》等法律法规、规范性文件以 及《公司章程》及其他有关规定，制定本实施细则。 第二条 董事会提名委员会是董事会下设的专门委员会，对董事会负责，依照有关 法律法规及《公司章程》规定履职。 第三条 本实施细则所称的高级管理人员是指由董事会聘任的总经理、副总经理、 董事会秘书、财务负责人以及其他应由董事会聘任的高级管理人员。 第二章 人员组成 第四条 提名委员会由三至五名董事组成，其中独立董事须占多数。 第五条 提名委员会委员由董事长、二分之一以上独立董事或全体董事的三分之一 提名，并由董事会选举产生。 第六条 提名委员会设召集人一名，负责主持委员会工作；召集人由独立董事委员 担任，并经董事会批准产生。 第七条 提名委员会任期与董事会任期一致，委员任期届满，可连选连任。期间如 有委员不再担任公司董事，自动失去委员资格，并由董 ...