Core Viewpoint - The company Wangneng Environment (002034.SZ) has received a court decision accepting its pre-restructuring application for its subsidiary Zhejiang Lixin, indicating potential financial restructuring efforts ahead [1] Group 1 - The Zhejiang Deqing County People's Court has delivered a notification and decision regarding the acceptance of the pre-restructuring application [1] - The court documents referenced are the Notification (2025) Zhe 0521 Po Shen 36 and the Decision (2025) Zhe 0521 Po Shen 36 [1]

| 证券代码：002034 | 证券简称：旺能环境 | 公告编号：2025-95 | | --- | --- | --- | | 债券代码：128141 | 债券简称：旺能转债 | | 旺能环境股份有限公司 关于法院裁定受理子公司预重整并指定预重整管理人的公告 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 或重大遗漏。 一、法院裁定受理预重整事件概述 旺能环境股份有限公司（以下简称"公司"）于 2025 年 9 月 8 日召开第九届董事 会第十二次会议，审议通过《关于申请控股子公司浙江立鑫破产预重整的议案》，同意 公司作为债权人向法院申请浙江立鑫新材料科技有限公司（以下简称"浙江立鑫"）破 产重整，并申请启动预重整程序。具体内容详见刊登于 2025 年 9 月 9 日《证券时报》 《证券日报》《上海证券报》及巨潮资讯网上的《关于申请控股子公司浙江立鑫破产预 重整的公告》（公告编号：2025-75）。 公司及下属控股子公司浙江立鑫于 2025 年 11 月 12 日收到浙江省德清县人民法院 （以下简称"德清法院"）送达的《通知书》（2025）浙 0521 破申 36 号、《 ...

Core Viewpoint - The company Wangneng Environment (002034.SZ) has received a court decision accepting its pre-restructuring application for its subsidiary Zhejiang Lixin, indicating potential financial restructuring efforts ahead [1] Group 1 - The Zhejiang Deqing County People's Court has delivered a notification and decision regarding the acceptance of the pre-restructuring application [1] - The court documents referenced are the Notification (2025) Zhe 0521 Po Shen 36 and the Decision (2025) Zhe 0521 Po Shen 36 [1]

Core Viewpoint - The company has initiated a pre-restructuring application for its subsidiary, Zhejiang Lixin, which has been accepted by the Deqing Court, indicating a proactive approach to address financial challenges [1] Group 1: Company Actions - The company received a court document on November 12, 2025, regarding the acceptance of the pre-restructuring application for Zhejiang Lixin, submitted on November 5 [1] - Zhejiang Lixin was established on March 15, 2018, with a registered capital of 52.5 million yuan [1] - The Deqing Court has appointed Zhejiang Zeda (Huzhou) Law Firm as the temporary administrator for the pre-restructuring process [1] Group 2: Implications of Pre-restructuring - The acceptance of the pre-restructuring application allows for early cleanup efforts and the formulation of a restructuring plan, which may enhance the likelihood of successful restructuring [1] - There remains uncertainty regarding whether Zhejiang Lixin will successfully enter the restructuring process and achieve a successful turnaround [1]

Core Viewpoint - Wangneng Environment announced the completion of a share repurchase program, acquiring a total of 9,949,200 shares, which represents 2.29% of the company's total share capital [1] Summary by Relevant Sections - **Share Repurchase Details** - The share repurchase took place from December 4, 2024, to November 7, 2025 [1] - The repurchase was conducted through a dedicated securities account via centralized bidding [1]

| | | 旺能环境股份有限公司 关于股份回购实施完成暨股份变动情况的公告 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 导性陈述或重大遗漏。 旺能环境股份有限公司（以下简称"公司"）于 2024 年 11 月 26 日召开第 九届董事会第八次会议，审议通过《关于回购公司股份方案的议案》，同意公司 使用自有资金、专项贷款资金等合法资金以集中竞价交易方式回购部分公司已发 行的人民币普通股（A 股）股票，本次回购股份将用于股权激励计划、员工持股 计划或可转换公司债券转股。若公司未能在本次回购实施完成之日起 36 个月内 将已回购的股份用于前述用途的，未使用部分的回购股份应予以注销。本次回购 股份的价格不超过人民币 22.00 元/股，回购总金额不低于人民币 10,000 万元且 不超过人民币 20,000 万元。具体内容详见刊登于 2024 年 11 月 28 日、2024 年 12 月 5 日《证券时报》《证券日报》及巨潮资讯网上的《关于回购公司股份方 案暨取得金融机构回购专项贷款承诺函的公告》（2024-96）、《回购报告书》 （2024-99）。 因 2024 年度权益分派实施 ...

Core Viewpoint - Wangneng Environment (002034.SZ) has completed its share repurchase program, acquiring a total of 9,949,200 shares, which represents 2.29% of the company's total share capital, within the specified timeframe [1] Summary by Relevant Sections - **Share Repurchase Details** - The company repurchased shares from December 4, 2024, to November 7, 2025, through a centralized bidding trading method [1] - The highest transaction price was 20.20 CNY per share, while the lowest was 14.00 CNY per share [1] - The total amount spent on the repurchase was 159,983,122 CNY (excluding transaction fees) [1] - **Financial Compliance** - The repurchase amount exceeded the lower limit of the repurchase fund total of 100 million CNY and did not exceed the upper limit of 200 million CNY [1] - The repurchase was conducted in accordance with the established repurchase plan, repurchase report, and relevant legal regulations [1]

Core Viewpoint - The company has successfully completed its share repurchase plan by November 7, 2025, with a total of 9.9492 million shares repurchased, representing 2.29% of the total share capital [1] Summary by Relevant Sections Share Repurchase - From December 4, 2024, to November 7, 2025, the company repurchased a total of 9.9492 million shares at a maximum price of 20.20 yuan per share and a minimum price of 14.00 yuan per share, with a total transaction amount of 160 million yuan [1] Impact on Company - The share repurchase is not expected to have a significant impact on the company [1] Shareholding Increase - The controlling shareholder, Meixin Da Group, increased its stake in the company by acquiring 5.7244 million shares from March 13, 2025, to August 15, 2025, which accounted for 1.32% of the total share capital at that time, with a transaction amount of 100 million yuan [1]

Core Viewpoint - Wangneng Environment (002034.SZ) has successfully completed its share repurchase program, acquiring a total of 9,949,200 shares, which represents 2.29% of the company's total share capital, within the specified timeframe [1] Summary by Relevant Sections Share Repurchase Details - The company initiated its share repurchase from December 4, 2024, to November 7, 2025, using a dedicated securities account for centralized bidding [1] - The highest transaction price was 20.20 CNY per share, while the lowest was 14.00 CNY per share [1] - The total amount spent on the repurchase reached 159,983,122 CNY, excluding transaction fees, exceeding the lower limit of the repurchase fund of 100 million CNY but remaining below the upper limit of 200 million CNY [1] Compliance and Regulations - The share repurchase was conducted in accordance with the established repurchase plan, repurchase report, and relevant legal regulations [1]

Core Viewpoint - The National Development and Reform Commission (NDRC) has released a draft implementation plan for renewable energy consumption targets, marking a shift from policy encouragement to mandatory planning indicators for renewable energy consumption [1] Group 1: Policy Changes and Industry Impact - The new policy aims to establish minimum consumption targets for renewable energy in both electricity and non-electric sectors, which will accelerate the consumption of renewable energy and promote the development of carbon markets and green electricity [1] - The garbage incineration power generation industry is expected to benefit from this policy shift, presenting new development opportunities [1] Group 2: Company Performance and Market Position - Wangneng Environment (002034) leads the industry in compliance, efficiency, and reliability, benefiting from the new policy that ensures consumption guarantees and market demand expansion [2] - The company has established a capacity of 23,170 tons/day across nine provinces and has expanded into Vietnam, with 21 operational plants totaling 21,820 tons/day, maintaining a leading position in the domestic market [2][5] - In the first half of 2025, Wangneng Environment achieved a revenue of 1.252 billion yuan and a net profit of 428 million yuan from its waste treatment business [2] Group 3: Strategic Developments - The company is capitalizing on the "green electricity direct connection" policy, allowing waste incineration plants to supply green electricity directly to high-energy-consuming users, thus opening new market opportunities [2][3] - Wangneng Environment is transitioning its business model from government supply to direct supply to enterprises, enhancing cash flow efficiency and profitability through green electricity [3] Group 4: Technological Innovations and Operational Efficiency - The company is integrating advanced technologies, such as AI and big data, to improve the efficiency of waste-to-energy conversion and reduce secondary pollution risks [3] - The establishment of a "smart factory" system at the South Taihu project has significantly improved operational efficiency and overall effectiveness [3] Group 5: Comprehensive Environmental Strategy - Wangneng Environment is evolving from a single waste incineration model to a "comprehensive environmental energy station" model, enhancing waste treatment efficiency and resource recovery [4][6] - The company has already integrated heating services into 14 waste-to-energy projects, positioning itself for stable revenue growth [4] Group 6: Regulatory and Market Opportunities - The ongoing improvement of the renewable energy consumption guarantee mechanism and the implementation of green electricity policies are creating dual development opportunities for the waste incineration power generation industry [5][6] - As a leading enterprise in the industry, Wangneng Environment is well-positioned to leverage these market and policy advantages for growth [5]