Group 1 - The latest stock price of Beifang International is 11.45 yuan, an increase of 0.28 yuan from the previous trading day, with a trading volume of 467,370 hands and a transaction amount of 534 million yuan [1] - Beifang International operates in the engineering construction industry, focusing on engineering construction and services, resource supply chain, and power operation, with recent expansions into overseas renewable energy projects, including wind and hydropower [1] - The company plans to raise no more than 960 million yuan through a targeted issuance, primarily for the 125MWp photovoltaic project in Bosnia and Herzegovina and to supplement working capital, with a total investment of 755 million yuan, a 12-month construction period, and a 25-year operational period [1] Group 2 - On the same day, the net inflow of main funds into Beifang International was 45.31 million yuan, with a cumulative net inflow of 36.32 million yuan over the past five days [2]

Group 1 - The stock price of Northern International (000065) closed at 11.45 yuan on August 7, 2025, with an increase of 2.51% and a turnover rate of 4.79% [1] - The trading volume was 467,400 hands, with a transaction amount of 534 million yuan [1] - The net inflow of main funds today was 45.31 million yuan, accounting for 8.48% of the transaction amount [1] Group 2 - The latest financial report for Northern International shows total operating revenue of 3.65 billion yuan for Q1 2025, a year-on-year decrease of 27.22% [1] - The net profit attributable to shareholders was 177 million yuan, down 32.97% year-on-year, while the non-recurring net profit was 175 million yuan, also down 32.45% [1] - The company's liquidity ratios are as follows: current ratio at 1.124, quick ratio at 1.020, and debt-to-asset ratio at 57.23% [1] Group 3 - Northern International was established in 1986 and is primarily engaged in the water transportation industry, located in Beijing [2] - The company has a registered capital of 1.0017 billion yuan and a paid-in capital of 253.4 million yuan [1] - The legal representative of the company is Ji Wei [1] Group 4 - Northern International has made investments in 9 companies and participated in 44 bidding projects [2] - The company holds 134 patent information and has 8 administrative licenses [2]

Core Viewpoint - The document outlines the underwriting proposal for the issuance of A-shares by NORINCO International Cooperation Ltd., detailing the company's business operations, financial data, and the specifics of the share issuance process [1][17]. Group 1: Company Overview - NORINCO International was established in May 1986 and is headquartered in Beijing, with a registered capital of 1,071,385,874 yuan [1]. - The company operates in various sectors including engineering construction, international trade, and resource supply chain management, focusing on international markets [3][4]. Group 2: Main Business Activities - The core business of the company is engineering construction and services, with capabilities in project financing, design, procurement, construction, and logistics [3]. - The company has established significant international projects, particularly in regions such as Asia, Africa, and the Middle East, aligning with the Belt and Road Initiative [4]. Group 3: Financial Data - As of March 31, 2025, the total assets of the company amounted to 2,499,380,000 yuan, with total liabilities of 1,430,471,710 yuan, resulting in total equity of 1,068,908,300 yuan [5]. - The company reported total operating revenue of 364,962,260 yuan for the first quarter of 2025, with a net profit of 17,997,590 yuan [7]. Group 4: Share Issuance Details - The company plans to issue A-shares to specific investors, with a total fundraising target of up to 96,000,000 yuan [22]. - The issuance will be conducted in compliance with relevant laws and regulations, with a maximum of 105,032,822 shares to be issued [20][21]. Group 5: Risk Factors - The company faces various risks including macroeconomic fluctuations, market competition, and operational risks related to contract execution and project management [10][11]. - Financial risks include potential difficulties in obtaining financing and managing cash flow, particularly in light of high capital expenditures associated with its projects [12][13].

Core Viewpoint - CITIC Securities Co., Ltd. acts as the sponsor for NORINCO International Cooperation Ltd.'s issuance of A-shares to specific investors in 2024, ensuring compliance with relevant laws and regulations [1][2][19]. Group 1: Issuer Information - NORINCO International was established on April 5, 1986, and is listed on the Shenzhen Stock Exchange under the stock code 000065.SZ with a registered capital of 1,071,385,874 RMB [5][9]. - The company specializes in international engineering construction and services, focusing on sectors such as rail transportation, power, and mineral facilities [6][7]. Group 2: Financial Data - As of March 31, 2025, the total assets of NORINCO International amounted to 2,499,380,000 RMB, with total liabilities of 1,430,471,710 RMB, resulting in total equity of 1,068,908,300 RMB [9]. - The company reported total revenue of 1,907,992,540 RMB for the year 2024, with total costs of 1,746,831,590 RMB, leading to an operating profit of 115,692,320 RMB [9][12]. Group 3: Shareholding Structure - As of March 31, 2025, the largest shareholder, China North Industries Group Corporation, holds 40.37% of the shares, while North Industries Technology Co., Ltd. holds 11.72%, making them the controlling shareholders [9][10]. - The total number of shares is 1,069,806,922, with 90.99% being freely tradable [8][9]. Group 4: Project Team - The project team for the A-share issuance includes representatives Zhao Fan and Huang Kai as the main sponsors, with Cheng Cuiwei as the project coordinator and other team members [3][4]. Group 5: Regulatory Compliance - CITIC Securities has conducted due diligence and confirmed that NORINCO International meets the legal requirements for the issuance of A-shares, ensuring that all necessary approvals have been obtained [19][21][22]. - The issuance plan has been approved by the company's board and shareholders, and it complies with the relevant regulations set forth by the China Securities Regulatory Commission [20][21].

股票简称：北方国际 股票代码：000065 北方国际合作股份有限公司 NORINCO International Cooperation Ltd. （注册地址：北京市丰台区南四环西路 188 号 12 区 47 号楼 3 层（301、302）） 2024年度向特定对象发行A股股票 募集说明书 （申报稿） 保荐人（主承销商） （广东省深圳市福田区中心三路8号卓越时代广场（二期）北座） 二〇二五年八月 北方国际合作股份有限公司2024年度向特定对象发行A股股票 募集说明书 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露资料不存 在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整性承担相应的 法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务会计资 料真实、完整。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请文件及 所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利能力、投 资价值或者对投资者的收益作出实质性判断或保证。任何与之相反的声明均属虚假不实 陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与 ...

立信会计师事务所（特殊普通合伙） 关于《北方国际合作股份有限公司申请向特定 对象发行股票的审核问询函》的回复 信会师函字[2025]第 ZG183 号 立信会计师事务所（特殊普通合伙）关于 《北方国际合作股份有限公司 申请向特定对象发行股票的审核问询函》的回复 目录 页次 专项说明 1-105 关于《北方国际合作股份有限公司 申请向特定对象发行股票的审核问询函 的回复报告》的回复 深圳证券交易所： 根据贵所于 2025 年 7 月 21 日出具的《关于北方国际合作股份有限公司申请向特 定对象发行股票的审核问询函》（审核函〔2025〕120026 号）（以下简称"问询函"） 的要求，立信会计师事务所（特殊普通合伙）（以下简称"会计师"、"申报会计师"） 作为北方国际合作股份有限公司（以下简称"发行人""北方国际"或"公司"）向特 定对象发行 A 股股票的申报会计师，就问询函所列问题进行了逐项落实、核查。现就 问询函中的问题回复如下，请贵所予以审核。 关于回复内容释义、格式及补充更新披露等事项的说明如下： 1、如无特别说明，本回复使用的简称与《北方国际合作股份有限公司 2024 年度 向特定对象发行 A 股股票募 ...

中信证券股份有限公司 关于 北方国际合作股份有限公司 2024 年度向特定对象发行 A 股股票 之 上市保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路8号卓越时代广场（二期）北座 二〇二五年八月 北方国际合作股份有限公司 2024 年度向特定对象发行 A 股股票 上市保荐书 声 明 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）接受北方国际合 作股份有限公司（以下简称"北方国际"、"发行人"或"公司"）的委托，担任其 向特定对象发行 A 股股票的保荐人。 中信证券股份有限公司及保荐代表人根据《中华人民共和国公司法》（以下简称 "《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司 证券发行注册管理办法》（以下简称"《注册管理办法》"）等有关法律、法规、中国 证监会及深圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制订的业 务规则、行业执业规范和道德准则出具上市保荐书，并保证所出具文件的真实性、准 确性、完整性。 在本上市保荐书中，除上下文另有所指，释义与《北方国际合作股份有限公司 2024 年度向特定对象发行 A 股股票募集说明书》相同。 3-3-1 | ...

3-1 北方国际·向特定对象发行 A 股股票 嘉源·补充法律意见书 北京市嘉源律师事务所 关于北方国际合作股份有限公司 向特定对象发行 A 股股票的 补充法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 二〇二五年八月 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：北方国际合作股份有限公司 北京市嘉源律师事务所 关于北方国际合作股份有限公司 向特定对象发行 A 股股票的 补充法律意见书 嘉源（2025）-01-381 敬启者： 根据北方国际合作股份有限公司（以下简称"公司"、"发行人"或"北方 国际"）与本所签署的专项法律顾问协议，本所担任北方国际本次发行的专项法 律顾问，并获授权为本次发行出具律师工作报告及法律意见书。 本所依据《公司法》《证券法》《注册管理办法》《证券期货法律适用意见 第 18 号》及中国证监会的其他有关规定，按照律师行业公认的业务标准、道德 规范和勤勉尽责精神出具关于本次发行的律师工作报告及法律意见书。 本所已于 2025 年 7 月 3 日就公司申请本次发行出具了嘉源 ...

中信证券股份有限公司 关于 北方国际合作股份有限公司 2024 年度向特定对象发行 A 股股票 之 发行保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年八月 3-1-2 | 录 目 | | 1 | | --- | --- | --- | | 声 明 | | 2 | | 第一节 | 本次证券发行基本情况 | 3 | | | 一、保荐人名称 | 3 | | | 二、保荐代表人、项目协办人及其他项目组成员情况 | 3 | | | 三、本次保荐的发行人证券发行的类型 | 4 | | | 四、发行人情况 | 4 | | | 五、保荐人与发行人存在的关联关系 | 9 | | | 六、保荐人内部审核程序和内核意见 | 10 | | 第二节 | 保荐人承诺事项 | 12 | | 第三节 | 关于有偿聘请第三方机构和个人等相关行为的核查 | 13 | | 第四节 | 对本次证券发行上市的推荐意见 | 14 | | | 一、本次证券发行决策程序 | 14 | | | 二、符合《公司法》规定的相关条件 | 15 | | | 三、符合《证券法》规定的相关条件 | 15 | | | 四 ...

证券代码：000065 证券简称：北方国际 关于北方国际合作股份有限公司 申请向特定对象发行股票的审核问询函 之回复报告 保荐人（主承销商） （广东省深圳市福田区中心三路8号卓越时代广场（二期）北座） 深圳证券交易所： 贵所于 2025 年 7 月 21 日出具的《关于北方国际合作股份有限公司申请向 特定对象发行股票的审核问询函》（审核函〔2025〕120026 号）（以下简称"问 询函"）已收悉，北方国际合作股份有限公司（以下简称"发行人""北方国际" 或"公司"）会同中信证券股份有限公司（以下简称"保荐人""主承销商"或 "中信证券"）、北京市嘉源律师事务所（以下简称"发行人律师"或"嘉源律 师"）、立信会计师事务所（特殊普通合伙）（以下简称"申报会计师"或"立 信"）等相关方对问询函所列问题进行了逐项核查，现回复如下，请予审核。 关于回复内容释义、格式及补充更新披露等事项的说明如下： 1、如无特别说明，本回复使用的简称与《北方国际合作股份有限公司 2024 年度向特定对象发行 A 股股票募集说明书（申报稿）》中的释义相同； 2、本回复中若出现总计数尾数与所列数值总和尾数不符的情况，均为四舍 五入所致； ...