Group 1: Company Performance and Capacity - The company has no large-scale expansion plans for 2025, focusing instead on optimizing manufacturing resources [2] - As of now, the company holds approximately 8.6 million shares of Wanhua Chemical [2] - The company has completed the capacity expansion and renovation projects initiated last year [5] Group 2: Shareholder and Financial Matters - The major shareholder, Guofeng, has not significantly increased their holdings as the end of the increase period approaches [5] - The dividend distribution plan for 2024 has been approved by the shareholders' meeting, with implementation expected within two months [5] - The company has no refinancing plans for the next six months [7] Group 3: Technological Capabilities and Projects - The company has developed a helium compressor for superconducting magnets, crucial for maintaining low temperatures in nuclear fusion devices [4] - The company is involved in the construction of the Zhoushan International Aquatic City cold chain logistics park, with a project value of 1.1 billion [5] - The company focuses on nuclear power cooling and heating solutions, having developed innovative technologies for safe and efficient nuclear power station operations [6] Group 4: Market Position and Future Plans - The company has a strong position in the magnetic levitation compressor market, with sufficient domestic capacity but a significant overseas supply gap [5] - The company is monitoring opportunities related to the upcoming Winter Olympics in Saudi Arabia, leveraging its experience in ice sports venue construction [6]

中信证券股份有限公司 关于烟台国丰投资控股集团有限公司及其 子公司烟台国泰诚丰资产管理有限公司 豁免要约收购冰轮环境技术股份有限公司 的持续督导意见 中信证券股份有限公司（以下简称"中信证券"、"财务顾问"）接受委托， 担任烟台国丰投资控股集团有限公司（以下简称"烟台国丰"、"收购人一"）及 其子公司烟台国泰诚丰资产管理有限公司（以下简称"国泰诚丰"、"收购人二"） 豁免要约收购冰轮环境技术股份有限公司（以下简称"冰轮环境"、"上市公司"） 的财务顾问。依照《中华人民共和国证券法》、《上市公司收购管理办法》（以下 简称"《收购办法》"）、《上市公司并购重组财务顾问业务管理办法》等有关规 定，持续督导期从冰轮环境公告收购报告书至收购完成后的 12 个月止（即从 2024 年 4 月 26 日至收购完成后的 12 个月止）。 2025 年 4 月 30 日，冰轮环境披露了 2025 年一季度报告。结合上述 2025 年一 季度报告及日常沟通，中信证券出具了 2025 年一季度报告的持续督导意见（以下简 称"本意见"）。 一、交易资产的交付或过户情况 （一）本次豁免要约收购情况 本次收购前，收购人烟台国丰、国泰诚丰 ...

Group 1: Company Overview - The main products of the company include compressors and heat exchange devices, focusing on "cooling," "heating," and "pressurization" functions [2] - The company has a mature supply of magnetic suspension compressor products developed over many years [2] Group 2: Industry Applications - The company serves various industries including food freezing and refrigeration, cold chain logistics, chemical production, and commercial air conditioning [2] - Specific applications include data centers, nuclear power, and industrial cooling systems [2] Group 3: Data Center Solutions - The company provides cooling equipment and heat exchange devices for data centers, with successful projects in multiple domestic and international locations [2] - Notable clients include the National Supercomputing Center in Guangzhou and several major banks [2] Group 4: Nuclear Power Products - The company focuses on core scenarios in nuclear power, such as nuclear island cooling and heat recovery, with innovative technologies developed for safe and efficient energy use [2] - The subsidiary, Dunham-Bush, has over 20 years of experience in nuclear power services and is a key player in the domestic market [2]

Investment Rating - The investment rating for the environmental engineering and services sector is "Positive" [2] Core Viewpoints - The environmental industry is gradually returning to rationality after experiencing a decline in national subsidies, PPP projects, and mixed ownership reforms. Companies are focusing on core business development while exploring new growth areas such as renewable energy and AI+environmental solutions [24] - In 2024, the environmental sector achieved a total revenue of CNY 395.986 billion, a year-on-year decrease of 1.2%, and a net profit attributable to shareholders of CNY 26.289 billion, a decrease of 10.7%. However, in Q1 2025, the sector's revenue increased by 1.5% year-on-year to CNY 87.873 billion, and net profit rose by 1.3% to CNY 8.723 billion, indicating a steady improvement in performance [24] Summary by Relevant Sections Water Sector - In 2024, the water sector generated revenue of CNY 75.376 billion, a decrease of 1% year-on-year, while net profit increased by 24.1% to CNY 11.822 billion. In Q1 2025, revenue remained flat at CNY 16.785 billion, with net profit growing by 7.6% to CNY 2.663 billion. Recent policy changes are expected to catalyze market-oriented water price reforms, benefiting efficient water companies [3][35] Solid Waste Sector - The solid waste treatment sector achieved revenue of CNY 174.722 billion in 2024, a year-on-year increase of 10.6%, with net profit rising by 10.2% to CNY 14.248 billion. In Q1 2025, revenue grew by 8.6% to CNY 41.34 billion, and net profit increased by 7.9% to CNY 4.3 billion. The new paradigm of waste incineration combined with data centers is expected to enhance profitability and cash flow [4][30] Environmental Monitoring/Testing Sector - The environmental monitoring/testing sector reported revenue of CNY 11.146 billion in 2024, a year-on-year increase of 1.5%, with net profit rising significantly by 46.2% to CNY 0.733 billion. In Q1 2025, revenue decreased by 6.3% to CNY 1.788 billion, while net profit remained stable with a slight increase of 0.4% [4] Environmental Equipment Sector - The environmental equipment sector generated revenue of CNY 61.497 billion in 2024, a decrease of 10.27%, with net profit falling by 33% to CNY 2.873 billion. In Q1 2025, revenue decreased by 6.42% to CNY 13.822 billion, and net profit decreased by 4.6% to CNY 0.986 billion. The demand for energy-saving equipment is expected to rise as the government promotes energy efficiency [5][6] Investment Recommendations - Three main investment lines are highlighted: 1. Water and waste incineration operations, which are expected to benefit from market reforms and stable cash flows. Recommended companies include Xirong Environment and Hongcheng Environment. 2. Environmental equipment, which is anticipated to see increased demand due to ongoing energy-saving initiatives. Suggested companies include Zhongtai Co. and Ice Wheel Environment. 3. Circular economy initiatives, with significant growth potential as outlined in the "14th Five-Year Plan" for circular economy development. Recommended companies include Inke Recycling and High Energy Environment [6][30]

山东睿扬(烟台)律师事务所 关于冰轮环境技术股份有限公司 2024年度股东会的 法 律 意 见 书 Ray&Young 地址:山东省烟台市莱山区双河东路 1919 号六楼 电话: 0535-6779859 山东睿扬(烟台)律师事务所 关于冰轮环境技术股份有限公司 2024 年度股东会的 法律意见书 睿扬法意字(2025) 第 0070 号 为出具本法律意见书,本所律师列席了公司 2024年度股东会,查阅了本所律 师认为出具本法律意见所必须查阅的文件,对公司本次股东会的召集和召开程序、 出席会议人员资格、表决方式、表决程序的合法性、有效性进行了认真核查。 本所及经办律师依据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、《上市公司股东会规则》 (以下简称《股东会规则》)、《律师事务所从事证券法律业务管理办法》和《律 师事务所证券法律业务执业规则》等规定及本法律意见书出具日以前已经发生或者 存在的事实,严格履行了法定职责,遵循了勤勉尽责和诚实信用原则,进行了充分 的核查验证,保证本法律意见所认定的事实真实、准确、宗整,所发表的结论性意 见合法、准确,不存在虚假记载 ...

证券代码：000811 证券简称：冰轮环境 公告编号：2025-014 冰轮环境技术股份有限公司2024年度股东会决议公告 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、误导性陈述或重大遗漏。 特别提示： 1.本次股东会未出现否决提案的情形。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1．冰轮环境技术股份有限公司2024年度股东会于2025年5月13日在烟台市芝 罘区冰轮路1号公司会议室召开。本次会议的召集人冰轮环境技术股份有限公司董 事会已于2025年4月17日在《中国证券报》、《证券时报》、《证券日报》及 www.cninfo.com.cn网站发布了召开本次股东会的通知。本次会议采用现场表决与 网络投票相结合的方式召开，会议由董事长李增群先生主持，会议的召开符合有关 法律、行政法规、部门规章、规范性文件和公司章程的规定。 2．出席本次会议的股东及股东的代理人共346人，代表股份139,698,739股， 占公司有表决权股份总数的18.2955%，其中通过网络投票出席会议的股东为345人， 代表股份139,681,739股，占公司有表决权股份总数的 ...

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。 为进一步加强与投资者的互动交流，冰轮环境技术股份有限公司（以下简称"公 司"）将参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司联合举办 的"2025 年山东辖区上市公司投资者网上集体接待日活动"，现将相关事项公告如 下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP, 参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15:00-16:30。届时公司 高管将在线就公司 2024 年年报、2025 年第一季度报告及其他投资者关心的问题，与 投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 证券代码：000811 证券简称：冰轮环境 公告编号：2025-013 冰轮环境技术股份有限公司 关于参加 2025 年山东辖区上市公司投资者 网上集体接待日活动的公告 二〇二五年五月十二日 — 1 — 冰轮环境技术股份有限公司 ...

Investment Rating - The report maintains a positive outlook on the power and natural gas sectors, indicating a favorable investment environment for renewable energy and gas companies [2][10]. Core Insights - The Shandong provincial government has introduced its first local guidelines for the marketization of renewable energy pricing, which is expected to stabilize returns for existing projects and provide a model for other provinces [5][7]. - Global natural gas prices have seen a slight rebound due to tightening supply and increased demand for LNG exports, with specific price movements noted in various regions [10][19]. - The report highlights the potential for LNG import prices to decrease further in the second half of 2025, benefiting downstream gas companies [11][29]. Summary by Sections 1. Power Sector: Shandong's New Energy Market Guidelines - Shandong's new energy pricing reform outlines that existing projects will participate in market pricing at a rate of 0.3949 yuan per kWh, aligning with the provincial coal benchmark price [5][6]. - The guidelines emphasize strong connectivity with existing policies, ensuring stability for existing projects while introducing competitive elements for new projects [6][7]. - The implementation of these guidelines is expected to serve as a model for other provinces, enhancing the operational efficiency and market strategies of renewable energy companies [7][8]. 2. Natural Gas: Global Demand and Price Rebound - As of May 9, 2025, the Henry Hub spot price in the U.S. was $3.22/mmBtu, reflecting a weekly increase of 3.84%, while European prices also saw a rise due to supply constraints and seasonal demand [10][19]. - The report notes that the overall LNG import cost in China has remained below 4000 yuan per ton, with a significant decrease of 18.4% from the year's peak [11][29]. - The anticipated decline in international oil prices is expected to further lower LNG import prices in China, benefiting city gas companies [11][29]. 3. Weekly Market Review - The public utilities, environmental protection, power equipment, and gas sectors outperformed the Shanghai and Shenzhen 300 index during the review period [35]. 4. Company and Industry Dynamics - Recent developments include the issuance of competitive configuration announcements for renewable energy projects in various provinces, indicating ongoing investment and growth in the sector [44][46]. - The report also highlights significant corporate announcements, including financing and profit distribution plans from key players in the energy sector, reflecting a proactive approach to capital management and shareholder returns [48][49].

Group 1 - The air energy heat pump concept increased by 2.76%, ranking 9th among concept sectors, with 44 stocks rising, including Xinlei Co., which hit a 20% limit up [1] - Notable gainers in the air energy heat pump sector include Hanzhong Precision and Ice Wheel Environment, both reaching the limit up, while Ruide Intelligent and Baosi Co. saw increases of 10.98% and 5.94% respectively [1][2] - The sector experienced a net inflow of 183 million yuan from main funds, with 26 stocks receiving net inflows, and Ice Wheel Environment leading with a net inflow of 135 million yuan [2][3] Group 2 - Hanzhong Precision had the highest net inflow rate at 36.85%, followed by ST Yishite and Ice Wheel Environment with rates of 19.38% and 18.34% respectively [3] - The top stocks in terms of main fund inflow include Ice Wheel Environment, Hanzhong Precision, and Xinlei Co., with respective inflows of 135 million yuan, 112 million yuan, and 38.4 million yuan [3][4] - Stocks with significant declines include Wanhe Electric, Taifu Pump, and Hisense Home Appliances, with decreases of 0.52%, 0.38%, and 0.04% respectively [1][5]

中信证券股份有限公司 的持续督导意见 中信证券股份有限公司（以下简称"中信证券"、"财务顾问"）接受委托，担 任烟台国丰投资控股集团有限公司（以下简称"烟台国丰"、"收购人一"）及其子 公司烟台国泰诚丰资产管理有限公司（以下简称"国泰诚丰"、"收购人二"）豁免 要约收购冰轮环境技术股份有限公司（以下简称"冰轮环境"、"上市公司"）的财 务顾问。依照《中华人民共和国证券法》、《上市公司收购管理办法》（以下简称"《收 购办法》"）、《上市公司并购重组财务顾问业务管理办法》等有关规定，持续督导 期从冰轮环境公告收购报告书至收购完成后的 12 个月止（即从 2024 年 4 月 26 日至 收购完成后的 12 个月止）。 2025 年 4 月 17 日，冰轮环境披露了 2024 年年度报告。结合上述 2024 年年度报 告及日常沟通，中信证券出具了 2024 年年度报告的持续督导意见（以下简称"本意 见"）。 一、交易资产的交付或过户情况 （一）本次豁免要约收购情况 本次收购前，收购人烟台国丰、国泰诚丰未直接持有冰轮环境股份，烟台国丰全 资子公司烟台冰轮控股有限公司（以下简称"冰轮控股"）、烟台国盛投资控股有限 公司 ...