证券代码：603007 证券简称：*ST 花王 公告编号：2025-092 花王生态工程股份有限公司 关于持股 5%以上股东被司法拍卖股份完成 过户并解除质押、冻结暨权益变动的提示性公告 花王国际建设集团有限公司保证向本公司提供的信息真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | | □ | 控股股东/实控人 | 91321181572624644X | | 花王国际建设集团有 | □ | 控股股东/实控人的一致 | | | 限公司 | 行动人 | | | | | √ | 其他直接持股股东 | | 花王国际建设集团有限公司（以下简称"花王集团"）无一致行动人。 二、权益变动触及 1%刻度的基本情况 2025 年 4 月，花王集团等五家公司管理人在京东资产交易平台上发布竞买 公告，公开拍卖花王集团持有的花王生态工程股份有限公司（以下简称"公司"） 合计 128,745,000 股股份，占其持有公 ...

Core Viewpoint - *ST Huawang has struggled to recover from its bankruptcy restructuring, facing significant challenges due to changes in commitments from new controlling shareholders and ongoing scrutiny from regulatory bodies [2][3][6]. Group 1: Bankruptcy Restructuring and New Shareholder Commitments - After completing bankruptcy restructuring, *ST Huawang introduced new controlling shareholders who committed to injecting semiconductor assets, which initially boosted investor sentiment [3][4]. - The new controlling shareholder, Xu Liang, has a background in semiconductor technology and was expected to facilitate the injection of relevant assets [4][5]. - However, a change in commitment regarding the asset injection led to a decline in investor confidence, with the company announcing plans to acquire a stake in Anhui Niwei Automotive Power Systems instead of semiconductor assets [6][7]. Group 2: Market Reaction and Stock Performance - Following the announcement of the restructuring plan, *ST Huawang's stock price surged to 18.07 yuan per share, marking a 267% increase within two months [5]. - The stock price plummeted after the commitment change, with the latest market valuation dropping to 4.5 billion yuan, a significant decrease from over 10 billion yuan earlier in the year [7][8]. Group 3: Financial Performance and Risks - In 2024, *ST Huawang reported revenues of 91.64 million yuan but incurred a loss of 813 million yuan, raising concerns about its ability to meet new listing standards [8][9]. - The proposed acquisition of Niwei Power at a high premium raised questions about the asset's quality and the company's future profitability, with a significant portion of the purchase price expected to create goodwill [9][10]. Group 4: Regulatory Scrutiny and Compliance - The Shanghai Stock Exchange has issued multiple inquiries regarding the asset acquisition and the feasibility of the performance commitments made by *ST Huawang [11][12]. - New regulations from the China Securities Regulatory Commission emphasize the seriousness of bankruptcy restructuring and require thorough analysis and disclosure of commitments made by companies [13][14].

Core Viewpoint - The company, Huawang Ecological Engineering Co., Ltd., has received an inquiry letter from the Shanghai Stock Exchange regarding its proposed acquisition of a 55.50% stake in Anhui Niwei Automotive Power System Co., Ltd. for a transaction price of 666 million yuan, raising questions about the valuation and financial assumptions behind the deal [1][6]. Group 1: Inquiry on Target Company - The valuation of Niwei Power's 100% equity was assessed at 1.223 billion yuan as of February 28, 2025, reflecting a significant appraisal increase of 665.84% compared to its book value of 71.7146 million yuan as of December 31, 2023 [1][2]. - The company is required to disclose the purposes and pricing basis of Niwei Power's two external financing rounds over the past three years, as well as the background of the previous valuation [1][2]. - The inquiry requests an explanation of any changes in Niwei Power's asset quality and operational status since the last valuation, and the rationale behind the substantial increase in the current transaction valuation [1][2]. Group 2: Sales and Revenue Projections - Niwei Power's projected revenue growth rates for 2025, 2026, and 2027 are 33.28%, with a stable profit margin forecasted [2]. - The company must provide details on existing orders, including customer names, product models, amounts, and delivery cycles, to validate the revenue projections for 2025 [2][3]. - The inquiry emphasizes the need to align sales forecasts with industry trends and customer demand, and to justify the pricing strategy and gross margin stability [2][3]. Group 3: Capacity Utilization and Capital Expenditure - Niwei Power's capacity utilization rates for 2023, 2024, and early 2025 are reported at 22.82%, 41.85%, and 37.94%, respectively, with some projects exceeding capacity [3][4]. - The company is asked to clarify discrepancies between actual and environmental assessment capacity utilization rates and to provide details on recent capital expenditures and their alignment with asset aging [3][4]. - The inquiry also seeks to understand the implications of planned relocations on future capital expenditures and asset depreciation [3][4]. Group 4: Customer Concentration and Dependency - The top five customers accounted for 96.10%, 94.43%, and 95.27% of Niwei Power's revenue in the first two months of the year, indicating high customer concentration [5]. - The company must explain the reasons for high customer concentration and the potential risks associated with dependency on a single major customer, particularly the first customer, Ideal Automotive [5]. - The inquiry requests details on the stability of customer relationships post-acquisition and any measures to mitigate risks related to customer turnover [5]. Group 5: Transaction Structure and Performance Commitments - The transaction includes a performance commitment that Niwei Power must achieve a net profit of no less than 320 million yuan over the next three years, with penalties for underperformance [6]. - The company is required to justify the performance targets set in relation to the transaction valuation and to explain the rationale behind the reward structure for management [6]. - The inquiry also seeks clarification on the accounting treatment of goodwill arising from the transaction and its potential impact on future performance [7]. Group 6: Shareholder Compliance and Historical Transactions - The inquiry highlights concerns regarding past shareholder transactions, including non-compliance with evaluation procedures and potential tax violations [8]. - The company must provide a detailed account of historical share transfers and the legitimacy of the current ownership structure, including any potential conflicts of interest [8]. - The inquiry requests an explanation of the reasons behind the dissolution of any previous shareholder agreements and their implications for future governance [8].

证券代码：603007 证券简称：*ST 花王 公告编号：2025-091 花王生态工程股份有限公司 关于收到上海证券交易所对公司重大资产购买草案 的问询函的公告 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。 花王生态工程股份有限公司（以下简称"公司"）于2025年6月18日收到上 海证券交易所发来的上证公函【2025】0879号《关于对花王生态工程股份有限公 司重大资产购买草案的问询函》（以下简称"《问询函》"）。根据相关规定， 现将《问询函》公告如下： "花王生态工程股份有限公司： 2025 年 6 月 5 日，你公司提交重大资产购买报告书（草案）（以下简称草 案），公司拟以现金方式收购安徽尼威汽车动力系统有限公司（以下简称"尼威 动力"或"标的公司"）55.50%股权（以下简称"本次交易"），交易作价 6.66 亿元。经审阅你公司披露的草案，现有以下问题需要你公司进一步说明和补充披 露。 一、关于标的公司 1.关于标的公司整体估值。草案披露，本次交易评估最终采用收益法的评估 结果，以 2025 年 2 月 28 日为评 ...

花王生态工程股份有限公司关于持股 5%以上股东 所持公司股份将被第三次司法拍卖的提示性公告 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。 ●鉴于花王生态工程股份有限公司（以下简称"公司"或"花王股份"）持 股 5%以上股东花王国际建设集团有限公司（以下简称"花王集团"）所持有的 128,745,000 股股份中的 33,573,632 股股份、36,762,491 股股份分别于 2025 年 5 月 13 日、2025 年 6 月 4 日拍卖成交，截至本公告披露日，前述股份尚未完 成变更过户手续，因此，本公告中花王集团所持初始股票数量以变更过户手续完 成前的 128,745,000 股为准。 ●本次将被司法拍卖的股份为花王集团所持有的公司 58,408,877 股股份， 占其持有公司股份数量的 45.37%，占公司总股本的 6.66%。前述股份已全部被司 法冻结（轮候冻结）。 ●根据《上海证券交易所上市公司自律监管指引第 15 号—股东及董事、监 事、高级管理人员减持股份》（以下简称"《自律监管指引第 15 号》"）第十 四 ...

证券代码：603007 证券简称：*ST 花王 公告编号：2025-090 花王生态工程股份有限公司关于持股 5%以上股东 所持公司股份将被第三次司法拍卖的提示性公告 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。 ●本次将被司法拍卖的股份为花王集团所持有的公司 58,408,877 股股份， 占其持有公司股份数量的 45.37%，占公司总股本的 6.66%。前述股份已全部被司 法冻结（轮候冻结）。 ●根据《上海证券交易所上市公司自律监管指引第 15 号—股东及董事、监 事、高级管理人员减持股份》（以下简称"《自律监管指引第 15 号》"）第十 四条及第二十二条的规定，本次司法拍卖股份，受让方在受让后 6 个月内不得减 持。 ●花王集团不是公司控股股东、实际控制人，其所持公司股份被司法拍卖不 会导致公司控制权变更，对公司的资产、财务、业务等方面的独立性不会产生影 响，对公司日常的经营管理不会产生影响。 ●截至本公告披露日，拍卖事项尚在公示阶段，后续可能涉及竞拍、缴款、 股权变更过户等环节，拍卖结果尚存在不确定性。公司将密切关注 ...

证券代码：603007 证券简称：*ST 花王 公告编号：2025-090 花王生态工程股份有限公司关于持股 5%以上股东 所持公司股份将被第三次司法拍卖的提示性公告 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： ●鉴于花王生态工程股份有限公司（以下简称"公司"或"花王股份"）持 股 5%以上股东花王国际建设集团有限公司（以下简称"花王集团"）所持有的 128,745,000 股股份中的 33,573,632 股股份、36,762,491 股股份分别于 2025 年 5 月 13 日、2025 年 6 月 4 日拍卖成交，截至本公告披露日，前述股份尚未完 成变更过户手续，因此，本公告中花王集团所持初始股票数量以变更过户手续完 成前的 128,745,000 股为准。 ●本次将被司法拍卖的股份为花王集团所持有的公司 58,408,877 股股份， 占其持有公司股份数量的 45.37%，占公司总股本的 6.66%。前述股份已全部被司 法冻结（轮候冻结）。 ●根据《上海证券交易所上市公司自律监管指引第 15 号—股 ...

证券代码：603007 证券简称：*ST 花王 公告编号：2025-089 花王生态工程股份有限公司 关于重大资产购买事项进展的公告 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。 花王生态工程股份有限公司（以下简称"上市公司"或"公司"）拟以支付 现金的方式向 HUANG RAN、孙鑫海、朱超、张同意、张澄、左强、上海咨凡 企业发展有限公司、徐云峰、芜湖尼威汽车科技合伙企业（有限合伙）、上海阕 阕企业管理合伙企业（有限合伙）、安徽鸠控国有资本投资集团有限公司、芜湖 天使投资基金有限公司合计购买其所持有的安徽尼威汽车动力系统有限公司（以 下简称"尼威动力"）55.50%股权（以下简称"本次交易"），本次交易完成后， 尼威动力的控股股东将由 HUANG RAN 变更为上市公司。根据《上市公司重大 资产重组管理办法》相关规定，本次交易构成重大资产重组。 二、本次交易的进展情况 公司于 2025 年 3 月 15 日披露了《花王生态工程股份有限公司重大资产购买 预案》。2025 年 3 月 26 日，公司收到上海证券交易所《关于对花 ...

Group 1 - The company plans to acquire a 55.50% stake in Niwei Power for a total transaction price of 601 million yuan for non-state-owned equity and approximately 64.63 million yuan for state-owned equity [1] - The company's existing business focuses on urban renewal, rural revitalization, and ecological restoration, but has faced challenges such as reliance on local infrastructure investment and long repayment cycles, leading to sluggish growth [1] - The target company specializes in the research, production, and sales of high-pressure fuel tank systems for new energy hybrid vehicles, and has a comprehensive business system from product design to mass production [1] Group 2 - Upon completion of the transaction, the company will officially enter the metal high-pressure fuel tank business for new energy hybrid vehicles, marking a significant step in pursuing a green and low-carbon growth path [2] - This acquisition is expected to enhance the company's overall competitive strength and establish competitive barriers, supporting sustainable development within the framework of green economic growth [2] - The transaction aims to safeguard the rights and interests of all shareholders while enabling the company to seize opportunities in the burgeoning green economy [2]

证券代码：603007 证券简称：*ST 花王 公告编号：2025-085 花王生态工程股份有限公司关于持股 5%以上股东 所持公司股份被第二次司法拍卖的进展公告 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： ●鉴于花王生态工程股份有限公司（以下简称"公司"或"花王股份"）持 股 5%以上股东花王国际建设集团有限公司（以下简称"花王集团"）所持有的 128,745,000 股中的 33,573,632 股股份在 2025 年 5 月 13 日第一次拍卖中成交， 截至本公告披露日，前述股份尚未完成变更过户手续，因此，本公告中花王集团 所持初始股票数量以变更过户手续完成前的 128,745,000 股为准。 ●本次被司法拍卖的股份为花王集团所持有的公司 95,171,368 股股份，占 其所持有公司股份数量的 73.92%，占公司目前总股本的 10.85%。前述股份已全 部被司法冻结（轮候冻结）。 ●本次司法拍卖共两场，花王集团所持有的公司 95,171,368 股股份中的 36,762,491 股股份竞价成功， ...