Group 1 - The core viewpoint emphasizes the importance of creating a fertility-friendly society, with increasing participation from companies in encouraging childbirth [1][2] - Jilin Province has implemented a cost subsidy system for maternity leave, providing 2,000 yuan per female employee who takes 180 days of maternity leave, effective from January 1, 2025 [1] - Other regions, such as Sichuan, are also developing mechanisms to share the costs of maternity leave, indicating a broader trend across China [1] Group 2 - Companies like Sanqi Interactive Entertainment have launched initiatives such as the "New Generation Plan," allocating over 10 million yuan to provide maternity benefits to eligible employees [2] - Jinpai Company has revised its employee welfare policy to offer one-time bonuses for families having a second or third child, reflecting a growing trend among companies to support employee fertility [2] - More than ten well-known companies have introduced measures to encourage employee childbirth since 2021, focusing on cash subsidies and extended maternity leave [3]

| 证券代码：002973 | 证券简称：侨银股份 公告编号：2025-088 | | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | 侨银城市管理股份有限公司 关于为子公司提供担保的进展公告 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、 担保情况概述 侨银城市管理股份有限公司（以下简称"公司"）第三届董事会第三十次会 议、第三届监事会第十七次会议和 2024 年年度股东大会审议通过了《关于 2025 年度担保额度预计的议案》，其中公司拟为纳入合并报表范围内的子公司（含新 设立的全资或控股子公司）提供担保的额度为 107,000.00 万元，担保期限自公司 2024 年年度股东大会审议通过之日起至公司 2025 年年度股东大会召开之日止。 具体内容详见公司 2025 年 4 月 29 日披露的《关于 2025 年度担保额度预计及关 联担保额度预计的公告》（公告编号：2025-051）。 二、 担保进展情况 公司全资子公司莆田侨环城市管理有限公司（以下简称"莆田侨环"）因经 营发展需要，莆田侨环与厦门银行股份有限公司莆田分 ...

Core Viewpoint - The credit rating of Qiaoyin City Management Co., Ltd. has been downgraded from AA- to A+ due to a slowdown in business cash flow, high accounts receivable, and increasing debt levels, which have intensified the company's financial pressure [3][5][6]. Financial Performance - Total assets increased from 75.21 billion in 2023 to 82.91 billion in 2025 [3]. - The company's equity attributable to shareholders rose from 21.90 billion in 2023 to 25.03 billion in 2025 [3]. - Total debt increased from 40.04 billion in 2023 to 40.09 billion in 2025, with a debt-to-equity ratio of 66.88% [3][4]. - Net profit for 2025 is projected at 3.29 billion, up from 3.07 billion in 2024 [3]. Operational Challenges - The company faces significant cash flow pressure due to high accounts receivable, which grew by 23.96% year-on-year, leading to an increase in accounts receivable turnover days from 164.94 days in 2023 to 221.33 days in 2024 [5][17]. - The company is involved in 125 ongoing lawsuits, with a total amount of 174.05 million, which may impact its financial stability [5]. Market Position - Qiaoyin operates in the national sanitation service sector, covering over 100 cities across 26 provinces, with a backlog of contracts valued at 420 billion [4][17]. - The company has secured new contracts worth 52.22 billion in 2024, although this is a decrease from 60.34 billion in 2023 [15][17]. Industry Environment - The sanitation service market in China is projected to grow, with a market size of 3,251 billion in 2024, reflecting a year-on-year increase of 9.4% [11][12]. - The market is becoming increasingly competitive, with state-owned enterprises gaining market share, which may pressure profit margins for private companies like Qiaoyin [11][12]. Future Outlook - The credit rating agency maintains a stable outlook for the company, indicating that its existing contracts will support future business development [6]. - The company plans to raise up to 9 billion through a private placement to enhance its operational capabilities and address liquidity issues [9][18].

Core Insights - The strategic cooperation framework agreement signed between Binzhou Urban Construction Investment Group and Qiaoyin Urban Management Co., Ltd. marks a significant step towards modernizing urban governance in Binzhou, Shandong Province [1] - The partnership aims to create a joint venture that integrates urban management resources and leverages digital technology to transform urban services from traditional operations to a dual-driven model of "management + operation" [1][2] Urban Management Innovation - The joint venture will focus on building a smart management platform that utilizes AI video monitoring and GPS positioning to create a comprehensive urban governance system [2] - This system will enable proactive governance by predicting and warning about urban events, thus transforming urban management from reactive to proactive [2] Business Development Strategy - The joint venture plans to leverage state-owned enterprise resources to innovate in areas such as property services, smart parking systems, and 3D printing for waste recycling [2] - This strategic layout aims to break traditional boundaries of urban management by integrating public services with commercial operations [2] Capital Operations - The partners intend to establish a multi-tiered financing system to support traditional urban management through project financing and loans, while exploring strategic investors and asset securitization for emerging business areas [2] - This approach aims to address the long-standing issue of upfront investment pressure in the urban services sector [2] Market Implications - The collaboration represents a forward-looking exploration of urban development models, combining the capital operation capabilities of the listed company with the resource integration advantages of the local state-owned enterprise [3] - This new paradigm of "technology-driven, capital-enabled, and multi-dimensional collaboration" is expected to enhance urban management efficiency and service quality, providing a sustainable momentum for urban development [3]

除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 侨银城市管理股份有限公司相关 债券 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【739】号 01 信用评级报告声明 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本评级报告版权归本评级机构所有，未经授权 ...

截至本公告披露日，除已披露的诉讼、仲裁事项外，公司及控股子公司在 最近连续十二个月内累计诉讼、仲裁事项金额共计 24,625.08 万元，金额累计已 超过公司最近一期经审计净资产绝对值的 10%，达到披露标准。其中，公司及 控股子公司作为被告或第三人的金额合计约为 12,552.02 万元，占本次累计诉讼、 仲裁事项金额总额的 50.97%；公司及控股子公司作为原告起诉的金额合计约为 12,073.06 万元，占本次累计诉讼、仲裁事项金额总额的 49.03%。 | 证券代码：002973 | 证券简称：侨银股份 公告编号：2025-087 | | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | 侨银城市管理股份有限公司 关于累计诉讼、仲裁案件情况的补充公告 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。 侨银城市管理股份有限公司(以下简称"公司")于 2025 年 6 月 21 日在巨 潮资讯网披露了《关于累计诉讼、仲裁案件情况的公告》(公告编号:2025- 085)，除已披露的诉讼、仲裁事项外，公司及控股子公司在最近连续十二个 ...

Group 1 - The legal opinion letter confirms the legality of the convening and holding procedures of the company's second extraordinary general meeting of shareholders in 2025 [4][18] - The meeting was convened by the third board of directors, with a notice published on June 5, 2025, meeting the legal requirements [4][5] - A total of 7 shareholders attended the meeting in person, representing 262,909,812 shares, which is 64.3337% of the total shares [8] Group 2 - The meeting was held on June 20, 2025, at the company's headquarters, with the chairman presiding over the session [7] - The network voting was conducted on the same day, with 70 shareholders participating, representing 20,877,900 shares, or 5.1088% of the total shares [8] - The voting results were verified and confirmed to be in compliance with relevant laws and regulations [18] Group 3 - The meeting included the election of the fourth board of directors and the fourth supervisory board, with all proposed candidates being approved by a significant majority [10][12][14] - The resolutions regarding the use of previously raised funds and the extension of the validity period for specific share issuance were also passed with overwhelming support [14][16] - The legal opinion concludes that all procedures and results of the meeting are valid and comply with the relevant laws and regulations [18]

| 证券代码：002973 | 证券简称：侨银股份 公告编号：2025-086 | | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | 侨银城市管理股份有限公司 关于向银行申请授信额度 及提供资产抵(质)押担保的进展公告 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、 申请综合授信额度及担保情况概述 （一）申请综合授信额度概述 侨银城市管理股份有限公司（以下简称"公司"）于 2025 年 2 月 24 日召开 第三届董事会第二十七次会议审议通过了《关于向银行申请授信额度及提供资产 抵(质)押担保的议案》，为了满足公司日常生产经营的资金需求，公司及子公司 茂名市高州侨胜城市管理有限公司、靖州侨银城市环境管理有限公司、雷州侨银 环保科技有限公司、涟源侨银城市运营管理有限公司拟将部分应收账款债权提供 质押担保向长沙银行股份有限公司广州分行申请不超过 2 亿元人民币综合授信 额度，授信期限为 1 年，公司以其名下的粤（2022）广州市不动产权第 09008270 号的房产为上述授信事项提供抵押担保，公司控股股东、实际控制人郭倍华、 ...

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。 侨银城市管理股份有限公司（以下简称"公司"）根据《深圳证券交易所 股票上市规则》有关规定，对公司及控股子公司在最近连续十二个月内的诉讼、 仲裁事项进行了统计，现将有关统计情况公告如下： | 证券代码：002973 | 证券简称：侨银股份 公告编号：2025-085 | | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | 侨银城市管理股份有限公司 关于累计诉讼、仲裁案件情况的公告 润的影响尚存在不确定性，公司将依据企业会计准则的要求和实际情况进行相 应的会计处理。公司将密切关注和高度重视相关案件，积极采取各种措施，维 护公司的合法权益并及时履行信息披露义务。 四、备查文件 一、累计诉讼、仲裁事项的基本情况 截至本公告披露日，除已披露的诉讼、仲裁事项外，公司及控股子公司在 最近连续十二个月内累计诉讼、仲裁事项金额共计 24,625.08 万元，金额累计已 超过公司最近一期经审计净资产绝对值的 10%，达到披露标准。其中，公司及 控股子公司作为被告或第三人的金额合计约为 12,552.0 ...

| 证券代码：002973 | 证券简称：侨银股份 公告编号：2025-084 | | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | 侨银城市管理股份有限公司 关于董事会、监事会完成换届选举及聘任高级管理 人员和其他相关人员的公告 非独立董事：郭倍华（董事长）、韩丹、夏冠明、周丹华； 独立董事：YING KONG（孔英）、刘国常（会计专业人士）、韦锶蕴。 上述人员简历详见附件。 公司第四届董事会任期自公司2025年第二次临时股东大会审议通过之日起 三年。公司董事会中兼任公司高级管理人员的人数总计未超过公司董事总数的二 分之一；独立董事人数未低于公司董事总数的三分之一，独立董事的任职资格和 独立性已经深圳证券交易所审核无异议。 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。 侨银城市管理股份有限公司（以下简称"公司"）于2025年6月20日召开了 2025年第二次临时股东大会，选举产生了第四届董事会4名非独立董事、3名独立 董事，共同组成新一届董事会；选举产生了第四届监事会2名非职工代表监事， 并与公司2025年6月12日召开的 ...