Core Viewpoint - The announcement by Garden Holdings (园林股份) to invest 112 million yuan in semiconductor company Hualan Micro (华澜微) has raised regulatory concerns, particularly regarding the financial performance of Hualan Micro and the rationale behind the investment given Garden Holdings' own financial struggles [1][2] Group 1: Investment Details - Garden Holdings plans to acquire a total of 6.4969% of Hualan Micro's shares through two transactions, purchasing 3.3847% from Deng Yuting and Zeng Chao, and 3.1122% from Hangzhou Feidu Information Technology Co., with each share priced at 11.50 yuan, totaling 112 million yuan [1] - The market value of Hualan Micro's total equity is reported to be 1.725 billion yuan [1] Group 2: Regulatory Concerns - The Shanghai Stock Exchange has issued a "five questions" inquiry to Garden Holdings, focusing on the poor financial performance of Hualan Micro, which had previously applied for an IPO in December 2022 but withdrew in May 2024 due to declining revenue and increasing losses [2] - The exchange is particularly interested in understanding the rationale behind Garden Holdings' investment in a loss-making entity while it is also experiencing financial difficulties [2] - Additional inquiries include the valuation of the transaction, payment arrangements, and potential insider trading related to a sudden stock price surge on November 28 [2] Group 3: Industry Context - The trend of traditional industries venturing into the semiconductor sector has become increasingly common, with several companies like Cixing Co., Mengtian Home, and Tanshan attempting similar acquisitions, often facing skepticism from the market [2]

证券代码：605303 证券简称：园林股份 公告编号：2025-078 1 购后公司对标的公司不形成控股的原因；（2）结合上市公司自身经营情况及在标 的公司所处行业相关技术、人员、资金储备等情况，说明公司在自身持续亏损的 情况下跨界购买持续未盈利标的的商业合理性，是否有助于提高上市公司持续经 营能力，是否会损害中小投资者利益，并充分提示风险。 3.关于交易估值。公告显示，本次交易评估采用收益法和市场法两种方法， 评估结果分别为 8.13 亿元和 17.25 亿元，公司最终采用市场法作为评估结果，评 估增值率为 265.23%。请公司：（1）说明在收益法估值大幅低于市场法估值的情 况下，公司选择市场法作为评估结果的原因及合理性，交易对方与公司、控股股 东、董事、高级管理人员等相关方之间是否存在关联关系或其他利益安排；（2） 结合相关评估参数和对应依据，对比同类资产收购定价情况、标的公司历史融资 情况等，量化说明本次交易估值是否公允；（3）结合本次交易估值的溢价率情况 以及公司自身亏损的情况，说明是否已采取保障中小股东利益的相关安排。请独 立董事发表意见。 4.关于交易支付安排。公告显示，本次交易作价约 1.12 ...

人民财讯12月1日电，园林股份（605303）12月1日公告，公司收到上交所下发的《关于对杭州市园林绿 化股份有限公司购买股权事项的问询函》。其中提到，公司公告拟以1.12亿元购买杭州华澜微电子股份 有限公司(简称"华澜微")6.4969%的参股权。现请公司核实并披露关于华澜微业绩、交易目的的合理 性、交易估值、交易支付安排等事项。 ...

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： 交易主要内容：杭州市园林绿化股份有限公司（以下简称"公司"或"园林 股份"）于 2025 年 12 月 1 日召开第五届董事会第七次会议，审议通过《关于购 买股权资产的议案》，公司拟向邓玉婷、曾超分别购买杭州华澜微电子股份有限 公司（以下简称"华澜微"）股份 3,820,700 股、1,256,388 股，合计 5,077,088 股， 占华澜微总股本比例 3.3847%；公司全资子公司杭州芸合科技发展有限公司（以 下简称"芸合科技"）拟向杭州非度信息科技有限公司购买华澜微股份 4,668,300 股，占华澜微总股本比例 3.1122%。公司与芸合科技本次合计购买华澜微股份 9,745,388 股，占华澜微总股本比例 6.4969%。根据中京民信（北京）资产评估有 限公司出具的资产评估报告，华澜微股东全部权益市场价值为 17.25 亿元，每股 评估价为 11.50 元/股，本次交易总金额合计 112,071,962 元。公司与芸合科技于 同日与上述对应转让主体签署 ...

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 杭州市园林绿化股份有限公司（以下简称"公司"）第五届董事会第七次会议 于 2025 年 12 月 1 日（星期一）以通讯表决的方式召开。会议通知已于 2025 年 11 月 26 日通过专人送达及邮件的方式送达各位董事。本次会议应出席董事 7 人， 实际出席董事 7 人。会议由董事长吴光洪主持。会议召开符合有关法律、法规、 规章和《公司章程》的规定。 杭州市园林绿化股份有限公司 二、董事会会议审议情况 （一）审议通过《关于购买股权资产的议案》 证券代码：605303 证券简称：园林股份 公告编号：2025-076 第五届董事会第七次会议决议公告 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《关 于购买股权资产的公告》（公告编号：2025-077）。 表决结果：7 票同意，0 票反对，0 票弃权。 杭州市园林绿化股份有限公司董事会 2025 年 12 月 2 日 1 三、备查文件 1、第五届董事会第七次会议决议。 特此公告。 ...

Core Viewpoint - The company plans to acquire a total of 974.54 million shares of Hualan Microelectronics, representing 6.4969% of its total equity, through various transactions totaling 1.12 million yuan [1] Group 1: Acquisition Details - The company intends to purchase 3.8207 million shares from Deng Yuting and 1.2564 million shares from Zeng Chao, totaling 5.0771 million shares, which accounts for 3.3847% of Hualan Micro's total equity [1] - The company's wholly-owned subsidiary, Hangzhou Yunhe Technology Development Co., Ltd., plans to acquire 4.6683 million shares from Hangzhou Feidu Information Technology Co., Ltd., representing 3.1122% of Hualan Micro's total equity [1] Group 2: Valuation and Financials - According to an asset appraisal report by Zhongjing Minxin (Beijing) Asset Appraisal Co., Ltd., the market value of Hualan Micro's total equity is 1.725 billion yuan, with an assessed price of 11.5 yuan per share [1] - The total transaction amount for the acquisitions is 1.12 million yuan [1]

Market Overview - The infrastructure sector increased by 1.1% on November 28, with Jiaojian Co. leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Key Stocks Performance - Jiaojian Co. (603815) closed at 12.16, up 10.05% with a trading volume of 200,200 shares and a transaction value of 2.35 billion [1] - Garden Co. (605303) closed at 23.16, up 10.02% with a trading volume of 100,900 shares and a transaction value of 224 million [1] - Guosheng Technology (603778) closed at 11.59, up 9.96% with a trading volume of 1,131,500 shares and a transaction value of 12.80 billion [1] - Beixin Road and Bridge (002307) closed at 5.86, up 9.94% with a trading volume of 1,927,200 shares and a transaction value of 206 million [1] - Other notable performers include Guanzhong Ecological (300948) up 7.19% and Hongrun Construction (002062) up 6.07% [1] Capital Flow Analysis - The infrastructure sector saw a net inflow of 72.28 million from institutional investors, while retail investors contributed a net inflow of 132 million [2] - Speculative funds experienced a net outflow of 204 million [2] Individual Stock Capital Flow - Beixin Road and Bridge (002307) had a net inflow of 1.48 billion from institutional investors, but saw outflows from speculative and retail investors [3] - Hongrun Construction (002062) recorded a net inflow of 76.68 million from institutional investors, with outflows from speculative and retail investors [3] - Jiaojian Co. (603815) had a net inflow of 36.54 million from institutional investors, while speculative and retail investors withdrew funds [3] - Garden Co. (605303) also experienced a net inflow from institutional investors but faced outflows from other investor types [3]

证券之星消息，11月26日基础建设板块较上一交易日下跌0.19%，园林股份领跌。当日上证指数报收于 3864.18，下跌0.15%。深证成指报收于12907.83，上涨1.02%。基础建设板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603176 汇通集团 | | 5162.03万 | 28.04% | -388.49万 | -2.11% | -4773.54万 | -25.93% | | 001267 | 汇绿生态 | 4827.14万 | 3.90% | -2098.07万 | -1.69% | -2729.07万 | -2.20% | | 002307 | 北新路桥 | 3295.30万 | 1.96% | -4315.05万 | -2.57% | 1019.75 ...

Core Viewpoint - The announcement from the company indicates a significant change in the ownership structure due to a share transfer agreement involving its controlling shareholder, which may impact future operations and strategic direction [2]. Group 1 - The company, Hangzhou Garden Landscape Co., Ltd., received a notification on November 24, 2025, regarding a share transfer agreement signed by its controlling shareholder, Hangzhou Yuanrong Holding Group Co., Ltd. [2] - The share transfer agreement involves Zhang Yanliang, a senior shareholder of Yuanrong Group, and Hangzhou Jinghui Business Consulting Partnership (Limited Partnership) [2].

Core Viewpoint - The company announced that its controlling shareholder, Yuanrong Group, has signed a share transfer agreement with Jinghui Consulting to transfer 10.35% of its equity, corresponding to a capital contribution of 6.02163 million yuan. This change in shareholding structure will not affect the company's controlling shareholder, actual controller, or business structure, as Yuanrong Group remains the controlling shareholder and Wu Guanghong remains the actual controller [1] Group 1 - The share transfer involves a 10.35% equity stake [1] - The capital contribution related to the share transfer is 6.02163 million yuan [1] - The change in shareholding structure does not alter the controlling shareholder or actual controller [1]