Core Viewpoint - Ningbo Construction Co., Ltd. plans to acquire 100% equity of Ningbo Transportation Engineering Construction Group Co., Ltd. through a share issuance, with an emphasis on additional impairment compensation commitments to protect the company's interests [1][2]. Group 1: Transaction Details - The company has received approval for the share issuance to purchase assets and has signed a compensation agreement with Ningbo Transportation Investment Group Co., Ltd. to address potential asset impairments [2][3]. - A supplementary agreement to the compensation agreement was signed on May 19, 2025, to adjust the impairment testing and compensation scheme [2][4]. Group 2: Impairment Compensation Agreement - The compensation agreement stipulates that if any asset group experiences impairment at the end of any accounting year during the testing period, the counterparty must compensate the company based on the impairment amount [3][4]. - Compensation can be made in shares or cash, with specific formulas provided for calculating the number of shares or cash amounts to be compensated [4]. Group 3: Regulatory Compliance - The adjustments to the impairment compensation scheme do not constitute a significant change to the restructuring plan, as they do not involve changes to the transaction objects, transaction targets, or transaction prices [5]. - The independent financial advisor has confirmed that the adjustments are in line with regulatory guidelines and do not harm the company's interests [5][6].

Meeting Overview - The sixth session of the Supervisory Board of Ningbo Construction Co., Ltd. was held via communication, with all five supervisors participating and voting [1] - No supervisors voted against or abstained from the proposals [1] Proposal Review Issuance of Shares for Asset Purchase - The Supervisory Board reviewed the revised draft of the asset purchase report, which mainly updated financial data for 2024, confirming no substantial changes to the report's content [1] - The revision complies with relevant laws and regulations and does not harm the interests of the company or minority shareholders [1] Financial Reports - Zhejiang Kexin Accounting Firm provided audit reports for the transaction, including the simulated financial statements for Ningbo Traffic Engineering Construction Group Co., Ltd. and the reviewed consolidated financial statements for Ningbo Construction Co., Ltd. [2] - All votes for this proposal were in favor, with no opposition or abstentions [2] Supplementary Agreement - A supplementary agreement to the impairment compensation agreement was signed to protect the company's interests, effective from the date the asset purchase agreement becomes effective [3] - The company will modify the transaction application documents according to the supplementary agreement [3] Transaction Adjustment Confirmation - The company plans to adjust the impairment testing method based on the supplementary agreement, confirming that these adjustments do not constitute a significant change to the transaction plan [3] - All votes for this proposal were in favor, with no opposition or abstentions [3]

Group 1 - The company plans to acquire 100% equity of Ningbo Transportation Engineering Construction Group Co., Ltd. through a share issuance [1] - The company has updated financial data to December 31, 2024, and has made necessary revisions to the restructuring report in response to the Shanghai Stock Exchange's inquiries [2][3] - The restructuring report includes updates on major asset ownership, administrative penalties, industry policies, and production technology stages of the target company [3][4] Group 2 - The company has provided a compliance analysis regarding the regulatory requirements for major asset restructuring [4] - Financial data updates have been made across various sections of the restructuring report, including the company's major shareholders and their holdings [2][4] - The report highlights potential risks associated with the collection of receivables from the PPP project in the South Luchun to Lin'an highway segment [2][3]

Core Viewpoint - Ningbo Construction Co., Ltd. is in the process of acquiring 100% equity of Ningbo Transportation Engineering Construction Group Co., Ltd. through a share issuance, with the review process by the Shanghai Stock Exchange being resumed after necessary updates and submissions [2][3]. Group 1 - The company received a notification from the Shanghai Stock Exchange on December 31, 2024, regarding the acceptance of its application for the share issuance to purchase assets [2]. - On January 10, 2025, the company received an inquiry letter from the Shanghai Stock Exchange regarding the asset purchase and related transactions [2]. - The company completed the necessary updates and submitted the application for resuming the review process to the Shanghai Stock Exchange, which was approved on May 19, 2025 [3]. Group 2 - The transaction is subject to approval by the Shanghai Stock Exchange and registration by the China Securities Regulatory Commission, indicating uncertainty regarding the completion of the transaction [3]. - The company will fulfill its information disclosure obligations in accordance with relevant regulations based on the progress of the transaction [3].

甬兴证券有限公司 关于宁波建工股份有限公司 发行股份购买资产暨关联交易 之 独立财务顾问报告 （修订稿） 独立财务顾问 甬兴证券有限公司 二〇二五年五月 甬兴证券有限公司 独立财务顾问报告（修订稿） 独立财务顾问声明与承诺 一、独立财务顾问声明 （一）本独立财务顾问报告所依据的文件和材料由本次交易各方提供，提供 方对所提供文件及资料的真实性、准确性和完整性负责，并保证该等信息不存在 虚假记载、误导性陈述或者重大遗漏。本独立财务顾问不承担由此引起的任何风 险责任； （二）本独立财务顾问报告是在假设本次交易各方当事人均全面和及时履行 本次交易相关协议和声明或承诺的基础上出具，若上述假设不成立，本独立财务 顾问不承担由此引起的任何风险责任； （三）对于本独立财务顾问报告至关重要而又无法得到独立证据支持或需要 法律、审计、评估等专业知识来识别的事实，本独立财务顾问主要依据有关政府 部门、律师事务所、会计师事务所、资产评估机构及其他有关单位出具的意见、 说明及其他文件作出判断。 （四）如本独立财务顾问报告中结论性意见引用其他证券服务机构专业意见的， 独立财务顾问已进行了必要的审慎核查。除上述核查责任之外，独立财务顾问并 ...

浙江银信资产评估有限公司 地址：宁波市江东北路 317 号 和丰创意广场和庭楼 703 电话：0574-87269407 传真：0574-81857866 浙江银信资产评估有限公司 关于对《关于宁波建工股份有限公司发行股份购 买资产暨关联交易申请的审核问询函》之资产评 估相关问题的回复（修订稿） 上海证券交易所： 浙江银信资产评估有限公司（以下简称"我公司"或"银信"）于2025年1月10日收到上海 证券交易所《关于宁波建工股份有限公司发行股份购买资产暨关联交易申请的审核问询 函》，收到问询函后，我公司高度重视并立即组织相关人员对有关问题经过了认真的讨论， 对需评估师核实回复的相关事项进行了核查，现将问询函中涉及资产评估方面的问题汇报 如下： 问询函第 2 条：关于资产基础法评估 重组报告书披露，（1）本次交易采用资产基础法和市场法评估，二者评估结果相近， 最终选择资产基础法作为评估结果，资产基础法估值 152,720.06 万元，评估增值率 16.49%；（2）未采用收益法评估的主要原因系政府关于交通基建的投资规划尚不明确，且 由于目前国内整体宏观经济波动较大，无法合理预测未来的风险及收益；（3）标的公司流 ...

北京大成律师事务所 关于 宁波建工股份有限公司 发行股份购买资产暨关联交易 之 补充法律意见书（三） 北京市朝阳区朝阳门南大街 10 号兆泰国际中心 B 座 16-21 层（100020） 16-21F, Tower B, ZT INTERNATIONAL CENTER, No.10, Chaoyangmen Nandajie, Chaoyang District, 100020, Beijing, China Tel: 8610-58137799 Fax: 8610-58137788 www.dentons.cn | 释 义… | | --- | | 引 言 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 3 | | 第一部分 对补充核查期间事项的补充披露 . | | i 本次交易方案 . | | 二、 本次交易各方的主体资格 | | ן ו 本次交易的批准和授权 . | | 四、 本次交易的相关协议 | | 五、 ...

甬兴证券有限公司 关于宁波建工股份有限公司本次交易增加减值补偿承诺补 充协议的专项核查意见 宁波建工股份有限公司（以下简称"公司"或"宁波建工"）拟通过发行股 份的方式购买宁波交通工程建设集团有限公司（以下简称"标的公司"）100%股 权（以下简称"本次交易"）。 2024 年 12 月 31 日，公司收到上海证券交易所出具的《关于受理宁波建工 股份有限公司发行股份购买资产申请的通知》（上证上审（并购重组）〔2024〕43 号），并于 2025 年 1 月 3 日披露了《宁波建工股份有限公司发行股份购买资产暨 关联交易报告书（草案）（申报稿）》等文件；2025 年 1 月 10 日，公司收到上海 证券交易所下发的《关于宁波建工股份有限公司发行股份购买资产暨关联交易申 请的审核问询函》（上证上审（并购重组）〔2025〕6 号）。 2025 年 3 月 13 日，公司第六届董事会第十六次会议、第六届监事会第十三 次会议分别审议通过了《关于签订附生效条件的<发行股份购买资产之减值补偿 协议>并同意修改相关申报文件的议案》及《关于确认本次交易方案调整不构成 重大调整的议案》，对本次交易增加减值补偿承诺。同日，公司与交 ...

宁波建工股份有限公司 备考合并财务报表审阅报告 目 录 | 一、备考审阅报告 | 1-2 | | --- | --- | | 二、财务报表 | | | 1. 备考合并资产负债表 | 1-2 | | 2. 备考合并利润表 3. 备考合并财务报表附注 | 3 1-129 | 浙江科信会计师事务所(特殊普通合伙 ) ZHEJIANG KEXIN CERTIFIED PUBLIC ACCOUNTANTS LLP 审阅报告 科信审阅报字[2025]第 001 号 宁波建工股份有限公司全体股东: 我们审阅了后附的宁波建工股份有限公司(以下简称"宁波建工")依据备 考合并财务报表附注三所述的编制基础编制的备考合并财务报表,包括 2024 年 度 12 月 31 日的备考合并资产负债表，2024 年的备考合并利润表以及备考合并 财务报表附注。这些备考合并财务报表的编制是宁波建工管理层的责任,我们的 责任是在实施审阅工作的基础上对这些备考合并财务报表出具审阅报告。 我们按照《中国注册会计师审阅准则第 2101 号--- 财务报表审阅》的规定 执行了审阅业务。该准则要求我们计划和实施审阅工作,以对备考合并财务报表 是否不存在重大 ...