债券代码：127034 债券简称：绿茵转债 证券代码：002887 证券简称：绿茵生态 公告编号：2025-047 天津绿茵景观生态建设股份有限公司 关于 2025 年第三季度可转债转股情况的公告 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。 特别提示： 股票代码：002887；股票简称：绿茵生态 债券代码：127034；债券简称：绿茵转债 转股价格：人民币 11.51 元/股 （二）可转债上市情况 经深交所"深证上[2021]511 号"文同意，公司 71,200.00 万元可转换公司 债券将于 2021 年 5 月 28 日起在深交所上市交易，债券简称"绿茵转债"，债 券代码"127034"。 （三）可转债转股期限 根据《深圳证券交易所股票上市规则》等有关规定和《天津绿茵景观生态建 设股份有限公司公开发行 A 股可转换公司债券募集说明书》（以下简称"《募 债券代码：127034 债券简称：绿茵转债 证券代码：002887 证券简称：绿茵生态 公告编号：2025-047 转股时间：2021 年 11 月 11 日至 2027 年 4 月 29 日 根据《深 ...

Core Viewpoint - The company is committed to continuously monitoring market dynamics and actively seeking high-quality merger and acquisition opportunities that align with its strategic development direction to achieve sustainable growth and strengthen its market position [1] Group 1 - The company emphasizes the importance of analyzing relevant cases to inform its strategic decisions [1] - The company aims to integrate resources effectively to support its long-term development goals [1] - The strategic objective is to enhance the company's size and strength in the market [1]

债券代码：127034 债券简称：绿茵转债 证券代码：002887 证券简称：绿茵生态 公告编号：2025-046 天津绿茵景观生态建设股份有限公司 2025 年第一次临时股东大会会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有任何虚假记 载、误导性陈述或者重大遗漏。 重要提示： 1、本次股东大会以现场投票与网络投票相结合的方式召开； 2、本次股东大会召开期间无增加、否决或变更议案的情况； 3、本次股东大会不涉及变更前次股东大会决议。 一、会议召开的基本情况 1、会议通知：天津绿茵景观生态建设股份有限公司（以下简称"公司"或 "本公司"）董事会于 2025 年 8 月 29 日在《证券时报》、《中国证券报》、《上海 证券报》和巨潮资讯网刊登了《天津绿茵景观生态建设股份有限公司关于召开 2025 年第一次临时股东大会的通知》（以下简称"股东大会通知"）。 2、会议召开的时间 4、会议召集人：公司第四届董事会。 5、会议表决方式：现场记名投票与网络投票相结合。 6、现场会议主持人：祁永。 7、股权登记日：2025 年 9 月 10 日（星期三）。 8、本次股东大会召开的时间、地点、方式、召集 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 法律意见书 国枫律股字[2025]A0447 号 致：天津绿茵景观生态建设股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据《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》（以下简称"《证券法律 业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法 律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《天津绿茵景观生态 建设股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召 开程序、召集人资格、出席会议人员资格、会议表决程序及表决结果等事宜，出具本法 律意见书。 对本法律意见书的出具，本所律师特 ...

Core Viewpoint - The company is focusing on smart technology and R&D investments, particularly in the fields of ecological restoration and intelligent maintenance, to drive future growth and innovation [2][3]. Group 1: Smart Technology and R&D Investment - Investors showed strong interest in the company's initiatives in artificial intelligence, particularly in green space maintenance [2]. - The company plans to deepen its investment in smart technology, with a focus on ecological restoration and intelligent maintenance by the first half of 2025 [2]. - Key technological challenges being addressed include land desertification and restoration, with applications in significant projects like the "Three North" shelter forest program [2]. Group 2: Patent Conversion and Business Growth - The company has seen a steady increase in patent numbers, with successful conversions in ecological restoration and intelligent maintenance by the first half of 2025 [3]. - The "Sandy Desert Vegetation Planting Equipment" patent has been applied in the "Three North" project, enhancing construction efficiency and vegetation survival rates [3]. - The company reported a revenue of 225 million yuan for the first half of 2025, a year-on-year increase of 30.87%, with green space maintenance contributing approximately 130 million yuan, up 20% year-on-year [3]. Group 3: Confidence in "Three North" Project and Accounts Receivable - The company has experienced significant revenue growth from the "Three North" project in Inner Mongolia, with multiple benchmark projects established [4]. - A special team has been formed to liaise with local governments to secure debt relief funds, and favorable national policies are expected to aid in the recovery of accounts receivable from PPP projects [4]. - The company is committed to deepening collaborations with universities and research institutions to promote technology development and application [4].

Group 1: Company Strategy and Market Position - The company is focusing on technological innovation in its core business areas, particularly in ecological restoration and smart maintenance, to enhance its competitive edge [1][2]. - The company has successfully applied its proprietary technology in ecological restoration projects, such as the "Three North" project, improving operational efficiency and reducing costs [2][3]. - The company aims to deepen its market presence in Inner Mongolia, leveraging the "Three North" project to secure more orders and enhance its industry position [3][4]. Group 2: Financial Performance and Projections - In the first half of 2025, the company achieved a revenue of 225 million yuan, representing a year-on-year growth of 30.87% [8]. - The green maintenance business contributed approximately 130 million yuan, with a growth of 20%, playing a crucial role in the company's revenue stability [8]. - The company anticipates a significant reduction in accounts receivable due to government policies aimed at debt clearance, which will positively impact cash flow [3][4]. Group 3: Research and Development - The company has increased its R&D investment, focusing on ecological big data and intelligent monitoring technologies, to stay at the forefront of industry advancements [1][2]. - New patents in ecological restoration and smart maintenance have been successfully transformed into practical applications, enhancing operational efficiency and resource utilization [2][4]. Group 4: Environmental and Social Governance (ESG) - The company emphasizes sustainable development and integrates green practices into its strategic planning, enhancing its brand image and market recognition [13][16]. - The company is actively pursuing partnerships with universities and research institutions to foster innovation in ecological restoration technologies [5][6]. Group 5: Future Plans and Innovations - The company plans to continue its focus on smart transformation and digitalization in its operations, aiming for a comprehensive upgrade in maintenance management systems [11][12]. - The company is exploring new operational models that combine ecological governance with industrialization to expand its business scope [3][4].

Core Viewpoint - Green Ecology (002887) reported a 30.87% year-on-year increase in revenue for the first half of 2025, driven by its two main business segments: green maintenance and ecological restoration [1][2] Group 1: Financial Performance - The company achieved a revenue of 225 million yuan in the first half of 2025, with green maintenance contributing approximately 130 million yuan, reflecting a 20% year-on-year growth [1] - The ecological restoration business successfully implemented multiple projects in key areas of the "Three North" project, with the Beijing-Tianjin-Hebei region accounting for 44.06% of total revenue [1] Group 2: Technological Innovation - The company is actively advancing its smart transformation by integrating systems for intelligent irrigation, environmental monitoring, personnel and equipment positioning, and centralized visualization, significantly enhancing operational efficiency and standardization [1] - New patents developed in the first half of 2025 have been successfully applied to actual projects, such as the self-developed "sandy desert vegetation planting equipment," which has improved vegetation survival rates and reduced maintenance costs [1] Group 3: Strategic Outlook - The company has established a special task force led by senior management to address high accounts receivable, leveraging national policies that allow special bonds to resolve existing PPP project debts [2] - The company expresses confidence in securing new orders for the "Three North" project and plans to deepen collaborations with research institutions like China Agricultural University to focus on key technology development for desertification control [2] - The meeting highlighted the company's technological advantages in ecological restoration and smart maintenance, as well as the development opportunities arising from actively responding to national strategies [2]

Market Performance - On September 5, the environmental governance sector rose by 1.08%, with Shanghai Xiba leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Top Gainers in Environmental Governance Sector - Shanghai Xiba (603200) closed at 91.30, up 10.00% with a trading volume of 158,700 shares and a turnover of 1.396 billion yuan [1] - Baolijie (832802) closed at 20.76, up 7.68% with a trading volume of 71,000 shares and a turnover of 148 million yuan [1] - Lvyin Ecology (002887) closed at 9.86, up 7.17% with a trading volume of 336,200 shares and a turnover of 322 million yuan [1] Decliners in Environmental Governance Sector - Feima International (002210) closed at 3.56, down 10.10% with a trading volume of 4.7655 million shares and a turnover of 1.752 billion yuan [2] - Youbluer (301259) closed at 45.05, down 4.56% with a trading volume of 142,700 shares and a turnover of 631 million yuan [2] - Dechuang Environmental (603177) closed at 11.38, down 3.15% with a trading volume of 262,200 shares and a turnover of 29.5 million yuan [2] Capital Flow Analysis - The environmental governance sector experienced a net outflow of 92.4186 million yuan from institutional investors, while retail investors saw a net outflow of 94.4448 million yuan [2] - However, speculative funds recorded a net inflow of 187 million yuan [2] Individual Stock Capital Flow - Shanghai Xiba (603200) had a net inflow of 15.6 million yuan from institutional investors, while retail investors experienced a net outflow of 79.7069 million yuan [3] - Shouchuang Environmental (600008) saw a net inflow of 37.1346 million yuan from institutional investors, with retail investors facing a net outflow of 23.6583 million yuan [3] - Lvyin Ecology (002887) had a net inflow of 24.8177 million yuan from institutional investors, while retail investors faced a net outflow of 23.2661 million yuan [3]

Core Viewpoint - Tianjin Green Landscape Ecological Construction Co., Ltd. has shown significant growth in both financial and business performance in the first half of 2025, driven by strategic initiatives in ecological restoration, green space maintenance, cultural tourism operations, and forestry economy [2][3]. Financial Performance - The company achieved approximately 225 million yuan in revenue, representing a year-on-year increase of 30.87% [2] - Net profit attributable to shareholders reached 58.88 million yuan, up 42.91% year-on-year [2] - Gross margin improved to 48.43%, an increase of 12.42% compared to the previous year [2] - The asset-liability ratio stood at 38.3%, a decrease of 1.82%, indicating a stable financial condition [2] Business Development - The company is transitioning towards an operation and maintenance-oriented enterprise, focusing on four major sectors: ecological restoration, green space maintenance, cultural tourism operations, and forestry economy [2] - In ecological restoration, the company capitalized on the national "Three North" project, executing multiple projects in Inner Mongolia [2] - The green space maintenance segment has taken on over 60 million square meters of projects, with maintenance revenue increasing by 20% year-on-year [2] - The cultural tourism segment has launched the "Mamma Beast·Dream Mountain Sea" project, which has become a popular destination [2] - The company is involved in a 1 billion yuan investment in the Sanqing Mountain cultural tourism project, enhancing operational and cultural integration capabilities [2] Strategic Planning - The company plans to deepen its presence in Inner Mongolia and leverage technology to enhance its operations [3] - The Sanqing Mountain project will utilize a "infrastructure investment + industrial investment" model, promoting a closed-loop management system [3] - The cultural tourism sector is currently in a nurturing phase, with expectations for significant growth in three years [3] - The ecological restoration sector aims to expand its market share by aligning with national strategies, while the green space maintenance sector is advancing mechanization and smart upgrades [3] - Major projects like the Tibet Yaxia Hydropower Station and the New Tibet Railway are expected to drive demand for ecological restoration services [3]

Financial Performance - The company achieved a revenue of approximately 225 million yuan in the first half of 2025, representing a year-on-year growth of 30.87% [1] - Net profit attributable to shareholders reached 58.88 million yuan, up 42.91% year-on-year [1] - Gross margin increased to 48.43%, a growth of 12.42% compared to the previous year [1] - The asset-liability ratio stood at 38.3%, a decrease of 1.82% year-on-year, indicating a stable financial condition [1] Business Segments Ecological Restoration - The company is actively expanding its ecological restoration business, focusing on key areas such as Inner Mongolia, with multiple projects implemented [1][2] - Collaborations with universities for technology development in land desertification and restoration are ongoing [2] Green Space Maintenance - The company has undertaken over 60 million square meters of green space maintenance projects, with a 20% increase in maintenance revenue in the first half of 2025 [3] - Investment of over 2,000 modern maintenance machines has been made to enhance operational efficiency [3] Cultural Tourism Operations - The company launched the "Mamma Beast: Dream Mountain and Sea" project, which quickly became a popular destination, enhancing brand influence [4] - The total investment for the Sanqing Mountain cultural tourism project is over 1 billion yuan, focusing on integrated investment and operation models [4][8] Forestry Economy - The company is exploring diverse forestry economic models, including carbon trading and under-forest economy planting [5] Future Strategies - The ecological restoration segment will focus on expanding market share in key areas aligned with national ecological construction strategies [12] - Green space maintenance will continue to enhance operational efficiency through mechanization and smart management [12] - The cultural tourism segment aims to integrate with green space maintenance to create new revenue streams and improve cash flow [12] Market Outlook - The company is optimistic about the Inner Mongolia market, expecting further orders in the second half of the year due to strategic opportunities [6][7] - The cultural tourism segment is in a critical development phase, with a projected maturation period of no less than three years before achieving significant profitability [10][11] Impact of Major Projects - Major projects like the Tibet Yaxia Hydropower Station and New Tibet Railway are expected to generate substantial ecological restoration demand, with the company already establishing a presence in these markets [13] Debt Recovery Efforts - The company is actively engaging with local governments to address outstanding receivables, leveraging national policies to facilitate debt recovery [15]