Core Viewpoint - Ningbo Energy announced the establishment of a joint venture company, Yongneng Technology, with partners Ningbo Shenji, Hailiang Capital, and Shanghai Jize, with respective ownership stakes of 39%, 31%, 15%, and 15% [1] Investment Details - The registered capital of Yongneng Technology is set at 150 million yuan, with Ningbo Energy committing 58.5 million yuan from its own funds [1] - The business scope of Yongneng Technology includes mineral extraction, processing, and petroleum products-related activities [1] Management Structure - Ningbo Energy will appoint three directors, including the chairman, and will recommend the operating vice president [1] - Ningbo Shenji will recommend the general manager and the technical vice president [1] Financial Reporting - This investment will not be included in the consolidated financial statements, indicating no adverse impact on Ningbo Energy's financials [1] - However, the operations of the target company may be subject to various uncertainties [1]

Core Viewpoint - Ningbo Energy announced a capital increase of 27.056 million yuan for its 40% stake in Yongde Environment, raising the registered capital from 80 million yuan to 147.64 million yuan, which aligns with the company's development strategy and national carbon neutrality goals [1] Group 1 - The capital increase will enhance Yongde Environment's operational capabilities and profitability, supporting its business development [1] - The board meeting held on October 22, 2025, had all 9 directors present and unanimously approved the capital increase proposal [1] - Yongde Environment is a joint venture between Ningbo Energy and Zhejiang Dechuang Environmental Technology Co., Ltd., with ownership ratios of 40% and 60% respectively [1]

Group 1 - The core point of the announcement is that Ningbo Energy Group Co., Ltd. plans to absorb and merge its wholly-owned subsidiaries, Ningbo Yongneng Biomass Energy Development Co., Ltd. and Ningbo Yongchuang Power Technology Co., Ltd. [2][3] - After the merger, Yongneng Biomass will continue to operate and will be renamed Ningbo Energy Group Biomass Energy Development Co., Ltd., while Yongchuang Power will be legally dissolved [2][3][4]. - The merger has been approved by the company's board of directors and does not constitute a related party transaction or a major asset restructuring as defined by regulations [2][4]. Group 2 - The merger aims to optimize the company's management structure, improve operational efficiency, and reduce management costs [3][4]. - The merger will not have a substantial impact on the company's consolidated financial statements, and the overall business development and profitability will not be adversely affected [4][8]. - The board of directors has authorized the management to handle the relevant matters related to the merger and to fulfill any legal or regulatory requirements [4][18]. Group 3 - The company has also announced the decision to waive its right of first refusal regarding a 5.83% equity stake in its subsidiary, Ningbo Xikou Pumped Storage Power Station Co., Ltd., which is being transferred to a wholly-owned subsidiary of Ningbo Yongshan Holdings Group Co., Ltd. [7][9]. - This transaction does not constitute a related party transaction or a major asset restructuring and does not require shareholder approval [7][8]. - The waiver of the right of first refusal will not negatively impact the company's ongoing operations, financial performance, or asset status [8][12].

| 证券代码：600982 | 证券简称：宁波能源 | | 公告编号：临 2025-054 | | --- | --- | --- | --- | | 债券代码：242520.SH | 债券简称：GC 甬能 | Y1 | | 宁波能源集团股份有限公司 关于全资子公司之间吸收合并的公告 吸收合并简要内容：宁波能源集团股份有限公司（以下简称"宁波能源"或 "公司"）全资子公司宁波甬能生物质能源开发有限公司（以下简称"生物 质开发"）拟吸收合并公司全资子公司宁波甬创电力科技有限公司（以下简 称"甬创电力"）。吸收合并完成后，生物质开发存续经营并更名为宁波能源 集团生物质能发展有限公司（暂命名，具体名称以市场监督管理局核准为准）, 甬创电力将依法注销。 本次吸收合并已经公司八届三十四次董事会审议通过，不构成关联交易，亦 不构成《上市公司重大资产重组管理办法》规定的重大资产重组，无需提交 股东会审议。 | 公司名称 | 宁波甬能生物质能源开发有限公司 2022-04-25 | | 成立时间 | | --- | --- | --- | --- | | 注册资本 | 3,000 万元 唐杰 | | 法定代表人 | | 统一 ...

| 证券代码：600982 | | 证券简称：宁波能源 | | | 公告编号：2025-055 | | --- | --- | --- | --- | --- | --- | | 债券代码: | 242520.SH | 债券简称: | GC | 甬能 Y1 | | 宁波能源集团股份有限公司 关于放弃控股子公司股权优先购买权的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 交易简要内容：宁波能源集团股份有限公司（以下简称"宁波能源"或 "公司"）控股子公司宁波溪口抽水蓄能电站有限公司（以下简称"溪口蓄能"） 股东宁波甬山控股集团有限公司（以下简称"甬山控股"）拟将其持有的溪口蓄 能 5.83%股权以无偿划转的形式转让至其全资子公司宁波甬山产业投资集团有 限公司（以下简称"甬山投资"）。公司放弃行使相关股权的优先购买权。 本次交易不构成关联交易 本次交易不构成重大资产重组 交易实施尚需履行的审批及其他相关程序：本次交易未达到股东会审议 标准，无需提交股东会审议。 风险提示：本次放弃优先购买权对公司持续经营能力 ...

| 证券代码：600982 | | 证券简称：宁波能源 | | | | 公告编号：临 2025-053 | | --- | --- | --- | --- | --- | --- | --- | | 债券代码: | 242520.SH | 债券简称: | GC | 甬能 | Y1 | | 宁波能源集团股份有限公司 八届三十四次董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、董事会会议召开情况 宁波能源集团股份有限公司（以下简称"公司"）八届三十四次董事会会议 通知于 2025 年 9 月 30 日以电子邮件方式发送至各位董事，会议于 2025 年 10 月 10 日以通讯表决的方式举行。本次会议应出席董事 9 名，实际出席董事 9 名， 会议的召开符合《公司法》和《公司章程》等有关法律、法规和规章的规定。 二、董事会会议审议情况 （一）审议通过《关于全资子公司之间吸收合并的议案》； 董事会同意公司全资子公司宁波甬能生物质能源开发有限公司吸收合并宁 波甬创电力科技有限公司，吸收合并完成后，宁波甬能生物质能源开 ...

证券代码：600982 证券简称：宁波能源 公告编号：2025-052 债券代码：242520.SH 债券简称：GC 甬能 Y1 宁波能源集团股份有限公司 关于 2025 年 9 月对外提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： | | | 被担保人名称 | | 宁波朗辰新能源有限公司 | | | --- | --- | --- | --- | --- | --- | | 担 保 | 对 | 本次担保金额 | 22,260.00 | 万元 | | | 象一 | | 实际为其提供的担保余额 | 23,426.52 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | 是 | ☑否 | □不适用：_________ | | 担 保 | 对 | 被担保人名称 | | | 黎川县巴尔蔓能源技术有限公司 | | | | 本次担保金额 | 5,171.40 | 万元 | | | 象二 | | 实际为其提供 ...

| 宁波甬能综合能源服务有限公司 | 41%股权 | 投资标的名称 | | | --- | --- | --- | --- | | 918.13 | | 投资金额（万元） | | | 完成 | | 投资进展情况 终止 | 交易要素变更 | | 受宏观经济和行业政策等因素影响，标的公 | 司未来经营情况存在一定不确定性。敬请广 | 特别风险提示（如有） | | | 大投资者理性投资，注意投资风险。 | | | | 一、对外投资基本情况 宁波能源集团股份有限公司（以下简称"宁波能源"或"公司"）于 2025 年 8 月 8 日召开的八届三十二次董事会审议通过了《关于收购控股子公司少数股 东股权的议案》，同意公司以现金方式按 780.13 万元加上过渡期损益分摊值的 价格收购宁波美科二氧化碳热泵技术有限公司（以下简称"宁波美科"）持有的 宁波甬能综合能源服务有限公司（以下简称"甬能综能"）35%股权，按 133.74 万元加上过渡期损益分摊值的价格收购宁波国通项目管理咨询有限公司（以下简 称"宁波国通"）持有的甬能综能 6%股权，收购完成后宁波能源将持有甬能综 能 100%股权。具体内容详见公司于 2025 ...

Core Viewpoint - The transaction involving Dechuang Environmental Protection (603177.SH) has raised market concerns due to the unstable performance of the target company, unclear details regarding soil pollution, and various doubts surrounding the historical pricing of equity and the involvement of related parties [1]. Company Performance - Huaxin Environmental Technology Co., Ltd. (华鑫环保), established in 2005, has shown unstable operational performance, with a net profit of 158,500 yuan in 2024, a loss of 3.15 million yuan in 2023, and a profit of 3.06 million yuan in 2022 [4]. - The company primarily handles medical and industrial hazardous waste, with an annual processing capacity of 30,000 tons of industrial hazardous waste and 9,800 tons of medical waste [4]. Industry Background - The hazardous waste disposal industry in Zhejiang Province has faced challenges, with disposal prices dropping significantly from 4,559.9 yuan per ton in 2022 to 1,752.54 yuan per ton in the first half of 2025, impacting Huaxin Environmental's revenue [5]. Transaction Details - The acquisition of 40% equity in Huaxin Environmental by Dechuang's subsidiary Ningbo Yongde Environmental Development Co., Ltd. from Zhejiang Mingyan Asset Management Co., Ltd. is valued at 67.64 million yuan, but lacks performance commitment clauses [6]. - The funding for this transaction will come from Dechuang's own funds and bank loans, despite the company having 246 million yuan in cash, of which 211 million yuan is not classified as cash and cash equivalents [6]. Potential Costs and Liabilities - Huaxin Environmental owns two industrial land parcels, with a total area of 50,569 square meters, but one parcel is currently idle due to soil pollution, and the costs for future soil remediation are uncertain [8]. - There are concerns that Dechuang may incur additional costs for soil remediation after acquiring the equity [9]. Related Party Transactions - The transaction is classified as a related party transaction due to previous financial interactions between Mingyan Asset and Dechuang's controlling shareholder [9]. - Mingyan Asset, which has no significant business operations and is in debt to Dechuang's controlling shareholder, may be selling the equity to repay its debts [12]. Historical Pricing and Valuation - The historical transaction price for the 40% equity in Huaxin Environmental is unclear, with the current transaction price suggesting a decline in the company's valuation over two years [13]. - Discrepancies exist between the book value of Huaxin Environmental reported by East Jiang Environmental and the valuation provided by the appraisal company [18].

Core Viewpoint - Ningbo Energy Group Co., Ltd. is hosting an online performance briefing for the first half of 2025 to enhance communication with investors and address their concerns [3][4]. Group 1: Meeting Details - The online performance briefing is scheduled for September 29, 2025, from 16:00 to 17:00 [4]. - The meeting will be held on the "Value Online" platform [4]. - Key participants include the Chairman, Vice Chairman, Independent Directors, and financial executives [4]. Group 2: Investor Participation - Investors can submit questions before the meeting by visiting a specified URL or scanning a QR code [2][5]. - The company will respond to commonly asked questions during the briefing, within the limits of information disclosure regulations [2][5]. Group 3: Post-Meeting Access - After the briefing, investors can access the meeting's main content and outcomes through the "Value Online" platform or the Yidong app [6].