Core Viewpoint - Company intends to acquire a 6.4969% stake in Hangzhou Hualan Microelectronics Co., Ltd. for 112 million yuan, amidst ongoing financial losses and regulatory scrutiny [1][2]. Group 1: Acquisition Details - The acquisition will be executed in two phases: directly purchasing 3.3847% of shares from two individuals and acquiring another 3.1122% through a wholly-owned subsidiary [1]. - The share price for both transactions is set at 11.50 yuan per share, positioning the company as the largest shareholder of Hualan Micro, without establishing a controlling relationship [1]. Group 2: Financial Performance of Hualan Micro - Hualan Micro has faced declining performance, with revenues dropping and losses widening; for the first three quarters of 2025, it reported revenues of 199 million yuan and a net loss of 84 million yuan [1][2]. - The company withdrew its IPO application in May 2024, which raises questions about its financial health and future prospects [1]. Group 3: Regulatory Concerns - The Shanghai Stock Exchange has issued an inquiry focusing on Hualan Micro's performance, the rationale behind the acquisition, and the valuation methods used, which showed a significant increase in value [2]. - The exchange is particularly interested in the financial implications of the acquisition on the company's cash flow and liquidity, given its own ongoing losses [2]. Group 4: Stock Price and Insider Trading Investigation - The company's stock price experienced unusual activity, with a surge prior to the acquisition announcement, prompting the exchange to investigate potential insider trading [3]. - The company is required to disclose the timeline and key personnel involved in the acquisition planning process [3]. Group 5: Company’s Commitment to Compliance - The company has stated its intention to respond to the inquiries and fulfill its information disclosure obligations as required by the regulatory authorities [4].

据了解，园林股份从事园林工程施工、园林景观设计、花卉种苗研发生产、园林养护、生态园林及乡村 振兴建设项目运维等全产业链业务；标的公司华澜微则是国产数据存储领域的部件提供商。园林股份表 示，公司基于对华澜微及存储、半导体芯片行业未来发展的信心，决定以自有资金及自筹资金购买华澜 微股权资产。 值得一提的是，同日晚间，园林股份还披露公告称，公司于当日收到了上交所下发的《问询函》。 北京商报讯（记者 马换换 王蔓蕾）拟购杭州华澜微电子股份有限公司（以下简称"华澜微"）6.4969%参 股权一事"火速"收到上交所问询函后，12月2日，园林股份（605303）股价大跌，盘中一度触及跌停。 交易行情显示，12月2日，园林股份平盘开盘，开盘后在大量卖单砸盘下，公司股价迅速下挫，盘中一 度触及跌停，随后打开跌停板。截至北京商报记者发稿，公司股价跌幅9.74%，报21.49元/股。拉长时 间线来看，1月2日—12月1日，公司股价区间累计涨幅达214.12%。 消息面上，12月1日晚间，园林股份公告称，拟以1.12亿元购买华澜微6.4969%的参股权。本次交易不构 成关联交易、不构成重大资产重组，也无需提交公司股东会审议。 《问询 ...

Core Viewpoint - The acquisition of a 6.4969% stake in Hangzhou Hualan Microelectronics Co., Ltd. by Garden Holdings has led to a significant drop in its stock price following an inquiry from the Shanghai Stock Exchange regarding the transaction [1][2] Group 1: Stock Performance - On December 2, Garden Holdings' stock price fell sharply, reaching a decline of 9.74% to 21.49 yuan per share, with a brief touch of the daily limit down [1] - From January 2 to December 1, the company's stock had previously seen a cumulative increase of 214.12% [1] Group 2: Transaction Details - Garden Holdings announced plans to purchase the stake for 112 million yuan, stating that the transaction does not constitute a related party transaction or a major asset restructuring, and does not require shareholder approval [1] - The company is involved in a full industry chain of landscaping services, while Hualan Micro is a provider of components in the domestic data storage sector [1] Group 3: Inquiry from Shanghai Stock Exchange - The inquiry from the Shanghai Stock Exchange highlighted that Hualan Micro had previously applied for an IPO in December 2022 but withdrew the application in May 2024 [2] - Hualan Micro reported revenues of 565 million yuan in 2022 and 221 million yuan in the first nine months of 2023, with net profits of -111 million yuan and -78 million yuan respectively, indicating a trend of declining revenue and increasing losses [2] - The exchange requested explanations regarding the reasons for Hualan Micro's continuous losses, comparisons with industry peers, and the rationale behind the transaction's valuation and payment arrangements [2]

Core Viewpoint - The company and its subsidiary, Yunhe Technology, have signed an agreement to acquire a 6.4969% stake in Hualan Micro for a total of 112.071962 million yuan, indicating a strategic investment in the domestic data storage sector [1] Group 1 - The company plans to purchase 3.8207 million shares from Deng Yuting and 1.256388 million shares from Zeng Chao, totaling 5.077088 million shares, which represents 3.3847% of Hualan Micro's total equity [1] - Yunhe Technology will acquire 4.6683 million shares from Hangzhou Feidu Information Technology Co., Ltd., accounting for 3.1122% of Hualan Micro's total equity [1] - After the transaction, the company and its subsidiary will collectively hold a 6.50% stake in Hualan Micro [1] Group 2 - Hualan Micro is a provider of components in the domestic data storage field, with main products including solid-state storage control chips, storage modules, and array controller chips [1]

Group 1 - The core point of the news is that the Shanghai Stock Exchange has issued an inquiry letter to Garden Holdings regarding its proposed acquisition of a 6.4969% stake in Hangzhou Hualan Microelectronics for 112 million yuan, raising concerns about the target company's financial performance and the reasons for its continuous losses [1] - The target company, Hualan Micro, reported a significant decline in revenue and an increase in losses, with main business revenues of 5.65 billion yuan in 2022 and 2.21 billion yuan in the first nine months of 2023, and net profits of -1.11 billion yuan and -0.78 billion yuan respectively [1] - The inquiry letter requests clarification on the reasons for Hualan Micro's continuous losses, its business model, technological barriers, changes in major customers, and the reasons for withdrawing its IPO application [1] Group 2 - In 2024, Garden Holdings' revenue composition shows that landscape engineering construction accounts for 89.08%, maintenance and operation accounts for 5.33%, land consolidation accounts for 2.1%, landscape design accounts for 1.61%, and others account for 0.72% [2]

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。 ...