园林股份(605303.SH)发布股价异动公告，经公司核实，目前市场上存在着对公司及全资子公司杭州芸 合科技发展有限公司合计购买杭州华澜微电子股份有限公司(简称"华澜微")6.4969%股份的相关报道。 公司本次参股投资华澜微事项已履行了相应的内部审批程序，交易事项符合相关法律法规的规定。公司 已收到上海证券交易所就本次购买股权资产下发的问询函，公司将按照相关法律、法规并在上海证券交 易所批准的时间范围内尽快完成对问询函的回复工作。 园林股份(605303.SH)发布股价异动公告，经公司核实，目前市场上存在着对公司及全资子公司杭州芸 合科技发展有限公司合计购买杭州华澜微电子股份有限公司(简称"华澜微")6.4969%股份的相关报道。 公司本次参股投资华澜微事项已履行了相应的内部审批程序，交易事项符合相关法律法规的规定。公司 已收到上海证券交易所就本次购买股权资产下发的问询函，公司将按照相关法律、法规并在上海证券交 易所批准的时间范围内尽快完成对问询函的回复工作。 ...

杭州市园林绿化股份有限公司 证券代码：605303 证券简称：园林股份 公告编号：2025-079 关于股票交易异常波动公告 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： 杭州市园林绿化股份有限公司（以下简称"本公司"）股票于 2025 年 12 月 2 日、12 月 3 日、12 月 4 日连续三个交易日内收盘价格跌幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动情 况。 经公司自查并向控股股东、实际控制人书面发函查证，截至本公告披露 日，确认不存在应披露而未披露的重大事项或重要信息。 一、股票交易异常波动的具体情况 公司股票于 2025 年 12 月 2 日、12 月 3 日、12 月 4 日连续三个交易日内收 盘价格跌幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动情况。 二、公司关注并核实的相关情况 （一）生产经营情况 经公司自查，公司目前生产经营正常。市场环境、行业政策没有发生重大调 整，生产成本和销售等情况没有出现大 ...

格隆汇12月4日｜园林股份发布异动公告，公司股票于2025年12月2日、12月3日、12月4日连续三个交易 日内收盘价格跌幅偏离值累计超过20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易 异常波动情况。经公司核实，目前市场上存在着对公司及全资子公司杭州芸合科技发展有限公司合计购 买杭州华澜微电子股份有限公司6.4969%股份的相关报道。公司本次参股投资华澜微事项已履行了相应 的内部审批程序，交易事项符合相关法律法规的规定。公司已收到上海证券交易所就本次购买股权资产 下发的问询函，公司将按照相关法律、法规并在上海证券交易所批准的时间范围内尽快完成对问询函的 回复工作。 ...

Core Viewpoint - The recent investment by Hangzhou Garden Landscape Co., Ltd. in semiconductor company Hangzhou Hualan Microelectronics Co., Ltd. raises concerns due to the high valuation and the target company's ongoing losses, leading to scrutiny from regulatory bodies [2][3][4]. Group 1: Investment Details - Hangzhou Garden Landscape plans to invest 112 million yuan to acquire a 6.4969% stake in Hualan Micro, becoming its largest shareholder [3]. - The valuation of Hualan Micro shows a significant premium, with a market value of 1.725 billion yuan, reflecting a 265.23% increase over its book value [3][4]. - Despite the investment being labeled as "financial investment," the choice of a loss-making company raises questions about the rationale behind the investment [4][5]. Group 2: Financial Performance of Hualan Micro - Hualan Micro's revenue has been declining, with 2022 revenue at 565 million yuan, dropping to 221 million yuan in the first nine months of 2023, and projected to further decline in 2025 [4][5]. - The company has consistently reported losses, with no positive net profit during the specified periods [4][5]. Group 3: Market Reactions and Regulatory Scrutiny - Prior to the announcement, Hangzhou Garden Landscape's stock price surged, hitting the daily limit on November 28, raising suspicions of insider trading [6][7]. - Following the announcement and subsequent regulatory inquiries, the stock price fell by 10% on December 2, indicating market skepticism about the investment's viability [6][7]. Group 4: Financial Implications for Hangzhou Garden Landscape - The investment will be financed through a combination of self-owned funds and bank loans, which may strain the company's cash flow, as it only had 253 million yuan in cash reserves as of September 2025 [7]. - The ongoing losses in Hangzhou Garden Landscape's core business, with a 33.4% revenue decline in the first three quarters of 2025, further complicate its financial situation [7].

Core Viewpoint - The company has experienced a significant stock price decline, with a cumulative drop exceeding 20% over three consecutive trading days, triggering an abnormal trading fluctuation notice from the Shanghai Stock Exchange [1] Group 1: Stock Performance - The company's stock closed with a price drop exceeding 20% over three consecutive trading days on December 2, 3, and 4, 2025 [1] Group 2: Investment Activity - The company is involved in a reported acquisition of a 6.4969% stake in Hangzhou Hualan Microelectronics Co., Ltd. through its wholly-owned subsidiary, Hangzhou Yunhe Technology Development Co., Ltd. [1] - The investment in Hualan Microelectronics has undergone the necessary internal approval processes and complies with relevant laws and regulations [1] Group 3: Regulatory Compliance - The company has received an inquiry letter from the Shanghai Stock Exchange regarding the equity purchase and will respond within the approved timeframe as per legal and regulatory requirements [1]

长江商报消息 ●长江商报记者 徐佳 跨界布局半导体芯片行业，园林股份（605303.SH）一笔对外投资引发多方质疑。 12月1日晚间，园林股份抛出资产购买计划，园林股份及其全资子公司拟作价1.12亿元，收购杭州华澜微电子股份 有限公司（以下简称"华澜微"）6.4969%股权。 对于园林股份而言，本次参股华澜微，是其跨界布局半导体芯片行业的重要举措。 值得关注的是，此笔收购很快引起监管部门高度注意。 收购案发布当日晚间，上交所火速对园林股份下发问询函，就华澜微的业绩、本次交易目的合理性、交易估值、 交易支付安排、内幕交易等五个方面进行详细问询。 然而，长江商报记者注意到，2022年12月，华澜微曾申报科创板IPO，但2024年5月撤单。但近年来，华澜微营收 规模下滑且一直未能盈利。本次交易中，华澜微整体估值17.25亿元，评估增值率达265.23%。在自身主业持续亏 损的背景下，园林股份购买持续未盈利的华澜微股权，是否具备商业合理性？是否有助于提高上市公司持续经营 能力？ 收购案发布后，当日晚间，上交所火速对园林股份下发问询函，对华澜微的业绩、本次交易目的合理性、交易估 值等多个方面进行详细问询。 需要注意的是 ...

Core Viewpoint - The stock of Garden Co. (605303) experienced a significant decline, hitting the daily limit down with a trading volume of 3.07 billion yuan and a turnover rate of 8.77% [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange's watch list due to a daily price deviation of -9.58%, with a total net sell of 50.86 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction of 106 million yuan, with a buying amount of 27.64 million yuan and a selling amount of 78.51 million yuan, resulting in a net sell of 50.86 million yuan [2] - The largest buying brokerage was Dongya Qianhai Securities, Shanghai branch, with a purchase amount of 9.83 million yuan, while the largest selling brokerage was CITIC Securities, Beijing branch, with a selling amount of 28.51 million yuan [2][3] Financial Performance - For the first three quarters, Garden Co. reported a total revenue of 325 million yuan, reflecting a year-on-year decline of 33.40%, and a net profit of -109 million yuan [3]

Market Overview - The infrastructure sector experienced a decline of 0.15% on December 2, with the Shanghai Composite Index closing at 3897.71, down 0.42%, and the Shenzhen Component Index closing at 13056.7, down 0.68% [1]. Key Performers - Leading the decline was Garden Shares, which fell by 10.00% to a closing price of 21.43 [2]. - Notable gainers included: - Guanzhong Ecological, up 4.79% to 20.55 [1]. - Beixin Road and Bridge, up 3.69% to 5.90 [1]. - Yuansheng Technology, up 2.82% to 13.11 [1]. Trading Volume and Value - Guanzhong Ecological had a trading volume of 197,900 shares, with a transaction value of 407 million yuan [1]. - Beixin Road and Bridge recorded a trading volume of 1,841,000 shares, with a transaction value of 1.074 billion yuan [1]. - Garden Shares had a trading volume of 141,500 shares, with a transaction value of 307 million yuan [2]. Capital Flow Analysis - The infrastructure sector saw a net outflow of 638 million yuan from main funds, while retail investors contributed a net inflow of 664 million yuan [2][3]. - Specific stocks with significant capital flow included: - Beixin Road and Bridge, with a main fund net inflow of 1.11 million yuan [3]. - Pudong Construction, with a main fund net inflow of 886,580 yuan [3]. - Dongzhu Ecological, with a main fund net inflow of 576,660 yuan [3].

Group 1 - Company announced a plan to acquire approximately 6.5% equity in Hualan Microelectronics for 112 million yuan, making it the largest shareholder post-acquisition [1] - The acquisition is based on the company's financial condition and will not affect the consolidated financial statements [1] - The Shanghai Stock Exchange has raised inquiries regarding the performance, transaction rationale, and valuation of the target company [1][3] Group 2 - Hualan Microelectronics reported a loss exceeding 80 million yuan in the first half of the year, with a valuation increase rate of over 260% [3] - The acquisition involves purchasing 974.54 million shares, with a market value of 1.725 billion yuan and a per-share valuation of 11.50 yuan [3] - The valuation methods used were income and market approaches, with the market approach yielding a significantly higher valuation [3] Group 3 - The semiconductor design industry, where Hualan Micro operates, is characterized by high technology and capital intensity, with significant R&D risks [4] - The company has faced continuous losses, raising concerns about its future profitability and the reasons behind its IPO withdrawal [4] - The company’s financial performance has been under pressure, with a net profit of -74.43 million yuan in the first half of 2025 [5] Group 4 - The stock price of the company experienced unusual movements prior to the acquisition announcement, prompting an investigation into potential insider trading [6] - The company plans to finance the acquisition through its own funds and bank loans, despite its ongoing financial losses [5][6] - There is a trend of traditional companies attempting cross-industry mergers into the "hard technology" sector, which carries inherent risks due to the high technical barriers and capital requirements [6]

Core Viewpoint - The company plans to acquire a total of 974.54 million shares of Hualan Microelectronics, representing 6.4969% of its total equity, for a total transaction amount of 1.121 billion yuan [1] Group 1: Acquisition Details - The company’s board approved a proposal to purchase equity assets on December 1, 2025 [1] - The company intends to buy 3.8207 million shares from Deng Yuting and 1.2564 million shares from Zeng Chao, totaling 5.0771 million shares, which is 3.3847% of Hualan Micro's total equity [1] - The 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]