Core Viewpoint - Zhongyuan Environmental Protection has successfully completed the issuance of the third phase of its 2025 technology innovation bonds, with the raised funds now accounted for [2] Group 1 - The company announced the completion of the bond issuance on the evening of August 14 [2] - The funds raised from the bond issuance are intended for technology innovation [2]

Group 1 - The company has completed the issuance of the 2025 third phase technology innovation bonds, raising a total of 500 million yuan [1] - The bonds have a coupon rate of 2.36% and a term of 3+N years [1] - The issuance was approved during the second extraordinary general meeting of shareholders held on November 14, 2023 [1] Group 2 - The registration notice for the bond issuance is valid for two years from the date of the registration [1] - The company is not a subject of credit default [1]

证券代码：000544 证券简称：中原环保 公告编号：2025-39 中原环保股份有限公司 关于 2025 年度第三期科技创新债券发行完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或者重大遗漏。 一、审议及注册发行情况 中原环保股份有限公司（以下简称"公司"）于2023年11月14日 召开的2023年第二次临时股东大会审议通过了《关于拟注册发行非 金融企业债务融资工具的议案》（详见巨潮资讯网2023-64、2023-69 号）。 近日，公司完成2025年度第三期科技创新债券的发行工作，募 集资金已到账，具体发行情况如下： 债券名称：中原环保股份有限公司2025年度第三期科技创新债 券 债券简称：25中原环保MTN003(科创债) 债券代码：102583415 发行总额：5亿元 公司不是失信责任主体。 特此公告。 2024年1月，公司收到中国银行间市场交易商协会签发的《接受 注册通知书》（中市协注[2024]SCP26号）、（中市协注[2024]MTN79 号）、（中市协注[2024]MTN80号），公司超短期融资券注册金额 10亿元、中期票据20亿元、永续中期 ...

Core Viewpoint - The successful issuance of the 10-year technology innovation bond by Zhongyuan Environmental Co., Ltd. marks a significant breakthrough for AA+ rated entities in Henan and nationwide, providing stable funding for the company's high-quality development [1][4]. Group 1: Bond Issuance Details - The bond has a scale of 500 million yuan and a coupon rate of 2.70%, with a maturity of 10 years [1]. - This issuance is the first 10-year bond for an AA+ rated entity in Henan and the first nationwide for technology innovation bonds under the same rating [1][4]. Group 2: Strategic Initiatives - Zhongyuan Environmental proactively initiated a comprehensive preparation process to tackle the challenges of long-term bond issuance, collaborating with major financial institutions to form a task force [4]. - The company conducted online investor roadshows to showcase its technological innovation and green development potential, successfully attracting investment interest [4]. Group 3: Implications for the Company and Industry - The bond issuance expands the company's financing channels, providing long-term, stable, and low-cost funding, which supports its leadership in the "dual carbon" field [4]. - As a national high-tech enterprise, Zhongyuan Environmental's success in issuing the 10-year technology innovation bond reflects its innovation capabilities and reform achievements, accelerating the mobilization of social capital for green initiatives [5].

Core Viewpoint - Zhongyuan Environmental Protection Co., Ltd. successfully issued its second phase of technology innovation bonds for 2025, marking a significant milestone for AA+ rated entities in Henan province and nationwide [1][3]. Group 1: Bond Issuance Details - The bond issuance size is 500 million yuan, with a maturity of 10 years and a coupon rate of 2.70% [1]. - This issuance is the first 10-year bond for an AA+ rated entity in Henan and the first nationwide 10-year technology innovation bond for AA+ rated entities, indicating a breakthrough in long-term bond issuance for this rating category [1][3]. Group 2: Implications for the Company and Industry - The issuance expands the company's financing channels, providing long-term, stable, and low-cost funding to support its operations [3]. - The innovative approach of "exchanging time for space" aligns with the company's goals in the "dual carbon" field, helping it maintain a leading position [3]. - This issuance serves as a reference model for other AA+ rated enterprises in Henan to overcome maturity barriers and access long-term funding, injecting innovative vitality into the financial market of Henan province [3].

证券代码：000544 证券简称：中原环保 公告编号：2025-38 中原环保股份有限公司 关于 2025 年度第二期科技创新债券发行完成的公告 二、本次发行情况 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或者重大遗漏。 近日，公司完成2025年度第二期科技创新债券的发行工作，募 集资金已到账，具体发行情况如下： 债券名称：中原环保股份有限公司2025年度第二期科技创新债 券 债券简称：25中原环保MTN002(科创债) 债券代码：102583287 发行总额：5亿元 一、审议及注册发行情况 中原环保股份有限公司（以下简称"公司"）于2023年11月14日 召开的2023年第二次临时股东大会审议通过了《关于拟注册发行非 金融企业债务融资工具的议案》（详见巨潮资讯网2023-64、2023-69 号）。 2024年1月，公司收到中国银行间市场交易商协会签发的《接受 注册通知书》（中市协注[2024]SCP26号）、（中市协注[2024]MTN79 号）、（中市协注[2024]MTN80号），公司超短期融资券注册金额 10亿元、中期票据20亿元、永续中期票据20亿元，注册 ...

Group 1 - The core viewpoint emphasizes the importance of financial support for technological innovation as a key driver of high-quality economic development [1] - In May, the People's Bank of China and the China Securities Regulatory Commission promoted the construction of a "Technology Board" in the bond market to encourage the issuance of technology innovation bonds by financial institutions, technology companies, and equity investment institutions [1] - The issuance of technology innovation bonds aims to provide more financing channels to better promote technological innovation and economic development [1] Group 2 - Since the implementation of the new policy on May 7, multiple enterprises in Henan have raised over 10 billion yuan, encouraging more technology companies to seek funding in the bond market [2] - Technology innovation bonds are designed to meet the financing needs of technology innovation enterprises, covering more startups and growth-stage companies, thus addressing financing difficulties [2] - The ongoing release of policy dividends from technology innovation bonds is expected to provide a direct path to capital markets for more light-asset, high-growth technology companies in Henan [2]

Group 1: Wastewater Treatment Business Overview - The wastewater treatment business is the core of the company's operations, utilizing a concession model for daily processing and fee collection [2] - In 2024, the company processed approximately 936 million tons of wastewater, averaging about 2.56 million tons per day [2] - The main cost components of wastewater treatment include electricity, chemicals, equipment maintenance, safety management, depreciation, personnel costs, and laboratory expenses [2] Group 2: Pricing and Contractual Aspects - The company can apply for price adjustments based on the concession agreement when the pricing mechanism is triggered [3] - The typical concession agreement duration for wastewater treatment projects in Zhengzhou is 30 years, with options for transfer, repurchase, or renewal upon expiration [3] Group 3: Upgrading and Compliance - Recent upgrades have been made to meet higher discharge standards, such as the upgrade of certain plants to the Yellow River Basin's first-level discharge standards [3] - The company has completed the upgrade of the first phase of the Ma Taogang wastewater treatment plant to first-level A standards [3] Group 4: Financial and Operational Insights - The company enjoys a national tax incentive policy of three exemptions and three reductions for its wastewater treatment business [3] - The average financing cost is around 3%, with a focus on cost reduction as a key task for 2025 [4] - The company is actively monitoring external market opportunities for strategic acquisitions, assessing projects based on IRR/ROE criteria [4] Group 5: Accounts Receivable and Cash Flow - Accounts receivable primarily consist of government debts related to wastewater treatment and PPP projects, with ongoing efforts to ensure timely collections [4] - Current cash flow is under pressure due to issues with accounts receivable collections [4]

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 中原环保股份有限公司（以下简称"公司"）于 2024 年 11 月 13 日召开的 2024 年第二次临时股东大会审议通过了《关于郑州 市污水净化有限公司拟注册发行非金融企业债务融资工具的议 案》，同意公司全资子公司郑州市污水净化有限公司向中国银行 间市场交易商协会注册发行不超过 20 亿元非金融企业债务融资 工具，最终以中国银行间市场交易商协会实际批复情况为准（详 见巨潮资讯网 2024-69）。 郑州市污水净化有限公司于近日收到中国银行间市场交易 商协会签发的《接受注册通知书》（中市协注[2025]MTN581 号）， 中国银行间市场交易商协会决定接受郑州市污水净化有限公司 中期票据注册，主要内容如下： 证券代码：000544 证券简称：中原环保 公告编号：2025-37 中原环保股份有限公司 关于子公司收到中国银行间市场交易商协会 《接受注册通知书》的公告 郑州市污水净化有限公司将按照相关法律法规及注册通知 书要求，择机开展中期票据发行工作，公司将根据事项进展情况 及时履行信息披露义务。 特此公告。 中原环 ...

Group 1 - The core viewpoint of the articles highlights the importance of bond financing for technology innovation companies in Henan Province, aiming to enhance their funding channels and accelerate technological advancements [1][2] - The training session organized by the Henan Securities Regulatory Bureau and the Henan Listed Companies Association focused on the advantages and policies related to technology innovation bonds, providing insights into the bond market's role in supporting listed companies [1] - The issuance of the first technology innovation renewable corporate bond by Shennong Co., with a coupon rate of 2.59% and a subscription multiple of 3.69, demonstrates the growing interest and confidence in utilizing bond financing for innovation [2] Group 2 - Henan Province has cultivated a number of specialized and innovative enterprises that are crucial for the industrial transformation and upgrading of the region, although some still face challenges related to long financing cycles and high capital demands [2] - The technology innovation corporate bonds are seen as a vital tool for directing funds towards early-stage, small, long-term, and hard technology investments, injecting more vitality into the production capacity of Henan's listed companies [2] - The Henan Securities Regulatory Bureau plans to continue optimizing the regulatory environment and policy support to foster a healthy development ecosystem for corporate bond financing, thereby contributing to high-quality economic growth in the province [2]