Market Overview - On September 2, the infrastructure sector declined by 0.47% compared to the previous trading day, with Garden Holdings leading the decline [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Individual Stock Performance - The top gainers in the infrastructure sector included: - China Communications Construction Co., Ltd. (交建股份) with a closing price of 11.02, up 9.98% on a trading volume of 411,900 shares and a turnover of 438 million yuan [1] - Pubang Co., Ltd. (普邦股份) with a closing price of 2.00, up 3.09% on a trading volume of 1,114,200 shares and a turnover of 224 million yuan [1] - The top decliners included: - Garden Holdings (园林股份) with a closing price of 16.72, down 6.85% on a trading volume of 199,400 shares and a turnover of 338 million yuan [2] - Pudong Construction (浦东建设) with a closing price of 8.64, down 6.49% on a trading volume of 751,400 shares and a turnover of 647 million yuan [2] Capital Flow Analysis - The infrastructure sector experienced a net outflow of 797 million yuan from institutional investors, while retail investors saw a net inflow of 519 million yuan [2] - Notable capital flows for specific stocks included: - Hongrun Construction (宏润建设) with a net inflow of 77.82 million yuan from institutional investors, but a net outflow of 97.77 million yuan from retail investors [3] - China Communications Construction Co., Ltd. (交建股份) had a net inflow of 57.48 million yuan from institutional investors, with both retail and speculative investors showing net outflows [3]

Core Viewpoint - *ST Huawang has completed the acquisition of 50.11% equity in Niwei Power, integrating it into its consolidated financial statements, marking a strategic shift towards the new energy sector [1][2]. Group 1: Business Transformation - *ST Huawang has been focusing on the ecological landscape sector for over 20 years, but has faced challenges such as reduced project orders and shrinking profit margins in its traditional landscaping business [2]. - The company has initiated a restructuring process to divest non-performing assets and improve its asset structure, leading to a rapid increase in the proportion of liquid assets [2]. - The management has set a strategic direction to embrace green principles and accelerate the transition to new productive forces, with a focus on new energy vehicle components [2]. Group 2: New Energy Sector Expansion - The acquisition of Niwei Power is seen as a crucial step for *ST Huawang to overcome the bottlenecks in its traditional landscaping business and align with the national "dual carbon" strategy [2]. - Niwei Power specializes in high-pressure metal fuel tanks, which are essential for the fuel efficiency and emission compliance of hybrid vehicles, and has established a strong market presence with major automotive brands [3]. Group 3: Diversified Business Layout - *ST Huawang has signed an agreement to purchase inertial sensor modules and related equipment, while also establishing new companies focused on MEMS sensor development, particularly for automotive applications [4]. - The company is expanding into the green energy sector by increasing its investment in Sichuan Tuo Wei Ju Neng Electric Power Co., enhancing its green low-carbon industry layout [4]. - The diversified approach aims to create a business matrix covering new energy vehicles, semiconductors, and energy storage, targeting key segments for competitive advantage [5]. Group 4: Synergistic Development - The company anticipates that its various business segments will benefit from synergies, enhancing growth momentum and resilience [5]. - The established supply chain relationships with automotive brands through Niwei Power will facilitate customer acquisition for the newly developed automotive-grade sensors [5]. - The integration of intelligent sensor technology into energy storage systems is expected to improve safety and energy efficiency, further solidifying *ST Huawang's competitive edge [5].

Group 1 - The core point of the article is that *ST Huawang announced the convening of its fifth board meeting on August 28, 2025, to review the 2025 semi-annual report and its summary [1] - For the year 2024, *ST Huawang's revenue composition indicates that the other construction industry accounts for 99.43% while other businesses account for 0.57% [1]

花王生态工程股份有限公司 第五届董事会第九次会议决议公告 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。 花王生态工程股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日以书 面形式发出会议通知，并于 2025 年 8 月 28 日在公司会议室以现场结合通讯方式 召开第五届董事会第九次会议。本次会议由董事长余雅俊女士主持。会议应参加 表决董事 7 人，实际参加表决董事 7 人。本次会议的召集、召开及审议程序符合 有关法律、行政法规、部门规章、规范性文件和《花王生态工程股份有限公司章 程》的规定。会议审议并通过了如下议案： 一、审议通过《关于公司 2025 年半年度报告及其摘要的议案》 具体内容详见同日公司于上海证券交易所网站(http://www.sse.com.cn)上 披露的公司《2025 年半年度报告》及《2025 年半年度报告摘要》。 本议案经第五届董事会审计委员会第五次会议审议通过。 审议结果：七票同意，零票反对，零票弃权。 证券代码：603007 证券简称：*ST 花王 公告编号：2025-117 审 ...

北京金杜（杭州）律师事务所 关于花王生态工程股份有限公司重大资产购买 实施情况之法律意见书 致：花王生态工程股份有限公司 根据《中华人民共和国证券法》（以下简称《证券法》）《上市公司重大资产 重组管理办法》（以下简称《重组办法》）《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》 （以下简称《证券法律业务执业规则》）《公开发行证券的公司信息披露内容与格 式准则第 26 号——上市公司重大资产重组》（以下简称《格式准则第 26 号》） 《监管规则适用指引——上市类第 1 号》等中华人民共和国境内（以下简称中国 境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别行政 区和台湾省）现行有效的法律、行政法规、规章及规范性文件（以下简称法律法 规）和中国证券监督管理委员会（以下简称中国证监会）的有关规定，北京金杜 （杭州）律师事务所（以下简称本所）接受花王生态工程股份有限公司（以下简 称花王股份或上市公司）的委托，作为花王股份支付现金购买安徽尼威汽车动力 系统有限公司 55.50%股权（以下简称本次交易）的专项法律顾问。就本次交易 事宜，本所已 ...

Core Points - The company held its fifth board meeting on August 28, 2025, to discuss and approve several key proposals [1] - The board approved the 2025 semi-annual report and its summary, which can be found on the Shanghai Stock Exchange website [1] - The board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with all votes in favor [2] - The company revised and established several corporate governance systems to enhance operational standards and internal management mechanisms [2][4] Summary by Categories - **Meeting Details** - The meeting was chaired by Chairwoman Yu Yajun and attended by all seven voting directors [1] - The meeting's procedures complied with relevant laws and regulations [1] - **Financial Reports** - The board approved the 2025 semi-annual report and its summary [1] - A special report on the use of raised funds was also approved [2] - **Corporate Governance** - The company undertook a comprehensive review of its internal governance systems [2] - Several governance documents were revised and new systems were established, effective immediately upon board approval [4]

Core Viewpoint - The legal opinion letter issued by Beijing King & Wood Mallesons (Hangzhou) Law Firm confirms the implementation status of the major asset acquisition by Huawang Ecological Engineering Co., Ltd, specifically the cash purchase of 55.50% equity in Anhui Niwei Automotive Power Systems Co., Ltd [1][4][14] Group 1: Transaction Overview - The transaction involves Huawang's wholly-owned subsidiary, Suzhou High-tech Zone Chenshun Haijing Management Consulting Co., Ltd, purchasing a total of 20,096,832 yuan registered capital (50.11% of Niwei's registered capital) from non-state-owned shareholders and 2,160,000 yuan registered capital (5.39% of Niwei's registered capital) from state-owned shareholders through public bidding [5][11] - The total assessed value of 100% equity in Niwei is 1,223.15 million yuan, with the transaction price for the non-state-owned equity set at 601.37 million yuan [6][11] Group 2: Approval and Authorization - The transaction has received necessary approvals from various meetings of Huawang's board and supervisory committee, including resolutions passed on March 14, June 5, August 1, and August 21, 2025 [9][10] - The non-state-owned equity transaction has completed the required approval and authorization procedures, while the state-owned equity transaction still requires additional approvals from the public transfer process [10][14] Group 3: Implementation Status - As of the date of the legal opinion, the non-state-owned equity transfer has been completed with the necessary business registration changes, and Huawang's subsidiary holds the 50.11% equity in Niwei [11][12] - The total payment made by the subsidiary for the first three phases of the transaction amounts to 306.70 million yuan, with further payments contingent on the acquisition of financing [11][12] Group 4: Compliance and Commitments - The actual situation of the transaction aligns with previously disclosed information, with no significant discrepancies noted [12][14] - All relevant agreements related to the non-state-owned equity transaction have been fulfilled, and there are no violations of commitments disclosed in the restructuring report [13][14]

中德证券有限责任公司 关于 花王生态工程股份有限公司 重大资产购买实施情况报告书 之 独立财务顾问核查意见 （北京市朝阳区建国路81号华贸中心1号写字楼22层） 二〇二五年八月 声明 中德证券有限责任公司接受花王生态工程股份有限公司委托，担任本次花王 生态工程股份有限公司重大资产购买之独立财务顾问，并出具本独立财务顾问核 查意见。 本独立财务顾问核查意见系依照《中华人民共和国公司法》《中华人民共和 国证券法》 《上市公司重大资产重组管理办法》 《公开发行证券的公司信息披露内 容与格式准则第 26 号——上市公司重大资产重组》等法律、法规、规范性文件 的有关规定和要求，按照行业公认的业务标准、道德规范，本着诚实信用、勤勉 尽责的精神，遵循客观、公正的原则，在认真审阅相关资料和充分了解本次交易 行为的基础上编制而成。 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。 行本次交易相关协议和声明或承诺的基础上出具。 | 在本核查意见中，除非另有说明，下列简称具有如下含义： | | | | --- | --- | ...

花王生态工程股份有限公司 信息披露管理制度 （2025 年 8 月） 第一章 总则 第一条 为规范花王生态工程股份有限公司(以下简称"公司")信息披露行 为，促进公司依法规范运作，维护公司和投资者的合法权益，依据《中华人民共 和国公司法》《中华人民共和国证券法》（以下简称"《证券法》"）、《上市 公司信息披露管理办法》(以下简称"《管理办法》")、《上海证券交易所股票 上市规则》(以下简称"《股票上市规则》")等法律、法规、部门规章、规范性 文件及《花王生态工程股份有限公司章程》(以下简称"《公司章程》")的有关 要求，特制定本制度。 第二条 本制度所称信息披露是指达到证券监管部门关于上市公司信息披露 的标准要求，根据相关法律、法规、部门规章及证券监管部门的规范性文件，将 可能对公司证券及衍生品种价格产生较大影响而投资者尚未得知的重大信息，在 规定时间内，通过规定的媒体，以规定的方式向社会公众公布，并在证券监管部 门备案。 第三条 本制度适用于公司股东、全体董事、高级管理人员和公司各部门、 分公司、子公司（含合伙企业等其他组织，下同）及其他负有信息披露职责的主 体。 第二章 信息披露的基本原则与一般规定 第四 ...

花王生态工程股份有限公司 内幕信息知情人登记管理制度 （2025 年 8 月） 第三条 公司在报送内幕信息知情人档案和重大事项进程备忘录时应当出具书面 承诺，保证所填报内幕信息知情人信息及内容的真实、准确、完整，并向全部内幕 信息知情人通报了有关法律法规对内幕信息知情人的相关规定。 第四条 公司董事及高级管理人员和公司各职能部门、子公司都应做好内幕信息 的保密工作。 第五条 公司应当加强对内幕信息知情人员的教育培训，确保内幕信息知情人员 明确自身的权利、义务和法律责任，督促有关人员严格履行信息保密职责，坚决杜 绝内幕交易。 1 第六条 本制度适用于公司下属各部门、分公司、控股子公司及公司能够对其实 施重大影响的参股公司。 第二章 内幕信息的范围 第七条 本制度所指内幕信息是指根据《证券法》第五十二条的规定，涉及公司 的经营、财务或者对公司证券及其衍生品种交易价格有重大影响的尚未公开的信息。 第八条 本制度所指内幕信息包括但不限于： 第一章 总 则 第一条 为规范花王生态工程股份有限公司（以下简称"公司"）的内幕信息管 理，加强内幕信息保密工作，提高公司股东、董事、高级管理人员及其他内幕信息 知情人的自律意识， ...