Industry Overview - Flue gas purification equipment is essential for air pollution control, including dust removal, desulfurization, denitrification, and VOCs treatment, widely used in power, metallurgy, and chemical industries [1][2] - The market size of the flue gas purification industry reached 125.8 billion yuan in 2023, expected to grow to 140 billion yuan by 2025, with a compound annual growth rate of 6-8% [1][10] - The industry is undergoing significant transformation, with a shift towards high-efficiency technologies, full industry chain services, and a focus on non-electric sectors [1][10] Technological Development - Major technical routes in China's flue gas purification include electrostatic dust removal, wet desulfurization, SCR denitrification, and VOCs catalytic combustion, each with its advantages and limitations [4][5] - The industry is moving from single pollutant control to collaborative governance and intelligent operation, with innovations like low-temperature electrostatic dust removal and wet electrostatic dust removal being promoted [4][10] Policy Environment - The industry is benefiting from a series of government policies aimed at promoting high-quality development in environmental protection equipment manufacturing, setting clear energy-saving and emission reduction targets [6][7] - Policies include tax incentives, green credit support, and guidelines for equipment updates and technological transformations in key industrial sectors [6][7] Market Structure - The flue gas purification equipment industry has a complete supply chain, with upstream materials like steel and catalysts, midstream equipment manufacturing, and downstream applications primarily in the power sector [9][10] - The market exhibits a multi-tiered competitive landscape, with leading companies like Longking Environmental and Qingxin Environment dominating the mainstream market, while mid-sized and small companies focus on niche segments [14][16] Competitive Landscape - The industry is characterized by a "multi-level, differentiated" competition structure, with top-tier companies leveraging full industry chain layouts and technological advantages [14][16] - Longking Environmental leads the market with a comprehensive approach, while companies like Fida Environmental and Yuanda Environmental focus on specific segments through differentiated technologies [14][16] Future Trends - The industry is transitioning towards non-electric sectors and emerging markets, with steel, cement, and waste incineration becoming key growth areas [19][20] - Carbon capture technologies are accelerating commercialization, pushing the industry towards "zero carbon" transformation [20][21] - Integration of AI and 5G technologies is fostering "one-stop" governance solutions, enhancing operational efficiency and reducing costs [22]

2025 Semi-Annual Performance Forecast [Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast%20Overview) The company forecasts a substantial year-over-year increase in its 2025 first-half performance, with net profit attributable to shareholders and basic earnings per share doubling 2025 Semi-Annual Performance Forecast Summary | Item | January 1, 2025 – June 30, 2025 | Prior Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | **Profit: RMB 41.9876 million - RMB 54.0590 million** | Profit: RMB 19.7255 million | | Year-over-Year Growth | 112.86% - 174.06% | - | | **Net Profit Excluding Non-Recurring Gains/Losses** | **Profit: RMB 39.6872 million - RMB 52.0895 million** | Profit: RMB 6.9034 million | | Year-over-Year Growth | 474.89% - 654.55% | - | | **Basic Earnings Per Share** | **Profit: RMB 0.30/share - RMB 0.40/share** | Profit: RMB 0.15/share | [Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) The company clarifies that this performance forecast is a preliminary estimate by the finance department and remains unaudited - This performance forecast represents preliminary estimates by the company's finance department and is unaudited[4](index=4&type=chunk) [Explanation of Performance Changes](index=1&type=section&id=III.%20Explanation%20of%20Performance%20Changes) Significant performance growth is attributed to concentrated delivery of key projects driving revenue increase and improved internal management enhancing operational efficiency and cost control - The concentrated delivery of key projects during the reporting period was the primary driver for the significant year-over-year increase in operating revenue[5](index=5&type=chunk) - Ongoing internal management improvements, enhanced operational efficiency, and effective cost control provided strong support for overall profit growth[5](index=5&type=chunk) [Other Relevant Information](index=1&type=section&id=IV.%20Other%20Relevant%20Information) The company reiterates that this unaudited performance forecast is preliminary and advises investors to refer to the official 2025 semi-annual report for final data and investment risk awareness - The company reminds investors that the final financial data will be based on the officially disclosed 2025 semi-annual report, urging cautious decision-making and awareness of investment risks[6](index=6&type=chunk)

同兴科技（003027）公告，预计2025年上半年净利润为4198.76万元-5405.9万元，比上年同期的1972.55 万元上升112.86%-174.06%。 ...

Group 1 - The core viewpoint of the announcement is that the company's 2025 employee stock ownership plan is in compliance with relevant laws and regulations, and aims to enhance corporate governance and attract talent [1][2] - The supervisory board meeting was held on July 11, 2025, with all three supervisors present, and the meeting was deemed legally valid [1] - The supervisory board concluded that the employee stock ownership plan will not harm the interests of the company and its shareholders, and is aligned with the company's long-term sustainable development goals [2] Group 2 - The voting results for the employee stock ownership plan were 2 votes in favor, 0 against, and 0 abstentions, with one supervisor abstaining due to a conflict of interest [2] - The plan will be submitted for review at the company's first extraordinary shareholders' meeting of 2025 [2] - The management measures for the 2025 employee stock ownership plan are designed to ensure smooth implementation and compliance with regulations [2]

Meeting Information - The company will hold its first extraordinary general meeting of shareholders in 2025 on July 29, 2025, at 14:30 [1] - Shareholders can vote through on-site attendance or online voting via the Shenzhen Stock Exchange system on the same day [1][2] - The registration for the meeting requires valid identification and proof of shareholding for both individual and corporate shareholders [3][4] Voting Procedures - Shareholders must choose either on-site or online voting, with the first vote being the valid one in case of duplicate voting [2] - The meeting will include proposals for discussion, including the authorization of the board to handle matters related to the employee stock ownership plan [2][8] - Specific procedures for online voting are provided, including identity verification and the use of digital certificates [6] Attendance Requirements - Individual shareholders must present valid ID and shareholding proof for registration, while corporate representatives must provide additional documentation [3][4] - Shareholders attending the meeting must arrive at least 30 minutes early for verification [4] Proposals for Discussion - The main proposal includes the authorization for the board to manage the employee stock ownership plan [2][8] - The meeting will also address other relevant matters as per the agenda [2]

Core Viewpoint - The legal opinion letter from Anhui Tianhe Law Office confirms that Tongxing Environmental Technology Co., Ltd. is legally qualified to implement its 2025 Employee Stock Ownership Plan (ESOP) and that the plan complies with relevant laws and regulations [1][14]. Group 1: Company Qualifications - Tongxing Environmental Technology Co., Ltd. is a legally established and effectively operating listed company, with no circumstances requiring termination under relevant laws and regulations [6][14]. - The company holds a business license with a registered capital of 130.7232 million RMB and operates in various sectors including environmental protection equipment manufacturing and energy technology research [5][14]. Group 2: Legality and Compliance of the Employee Stock Ownership Plan - The ESOP has been approved by the China Securities Regulatory Commission and complies with the guidelines set forth in the Trial Guidance and the Self-Regulatory Guidelines for Listed Companies [4][14]. - The plan adheres to principles of legality, voluntary participation, and risk-bearing, ensuring no forced participation or insider trading [7][8][14]. Group 3: Procedures and Information Disclosure - The company has completed necessary procedures for the ESOP, including board resolutions and employee consultations, and is awaiting approval from the shareholders' meeting [11][12][14]. - The company has fulfilled its information disclosure obligations regarding the ESOP and will continue to do so as the plan progresses [12][13][14].

Core Viewpoint - The company has developed a draft for the 2025 Employee Stock Ownership Plan (ESOP) in compliance with relevant laws and regulations, ensuring it aligns with the guidelines set forth by the regulatory authorities [1][2]. Summary by Sections Compliance with Regulations - The company confirms that there are no prohibitive circumstances under the relevant laws and regulations for implementing the ESOP [1]. - The content of the ESOP aligns with the guidelines and regulations stipulated in the relevant legal documents [1][2]. Governance and Procedures - The plan has been approved with the avoidance of conflicts of interest, as related directors and supervisors have recused themselves from voting, ensuring the process is legal and effective [1]. - There are no forced participation methods such as compulsory allocation for employees in this ESOP [1]. Eligibility and Financial Support - The designated participants of the ESOP meet the eligibility criteria outlined in the relevant guidelines, ensuring their qualifications are legitimate and valid [2]. - The company does not have any plans to provide loans, guarantees, or other financial assistance to the participants of the ESOP [2]. Benefits of the ESOP - The ESOP is expected to enhance the company's governance, improve the compensation and incentive mechanisms, and motivate employees, contributing to the long-term sustainable development of the company [2].

同兴环保科技股份有限公司 2025 年员工持股计划管理办法 第一章 总则 第一条 为规范同兴环保科技股份有限公司（以下简称"同兴科技"或"公 司"）员工持股计划（以下简称"员工持股计划"）的实施，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》"）《中国证监会关于上市公司实施员工持股计划试点的指导意见》 （以下简称"《指导意见》"）《深圳证券交易所上市公司自律监管指引第 1 号 ——主板上市公司规范运作》（以下简称"《规范运作指引》"）等相关法律、 行政法规、规范性文件和《公司章程》《同兴环保科技股份有限公司 2025 年员工 持股计划（草案）》之规定，特制定《同兴环保科技股份有限公司 2025 年员工持 股计划管理办法》（以下简称"本管理办法"）。 第二章 员工持股计划的制定 第二条 员工持股计划的目的 公司员工自愿、合法、合规地参与本员工持股计划，持有公司股票的目的是 促进公司的可持续增长，进而为广大投资者带来越来越大的投资回报，因此有必 要进一步建立、健全激励机制，吸引和留住优秀人才，充分调动员工的积极性和 创造力，提高员工的凝聚力和公司核心竞争力 ...

同兴环保科技股份有限公司薪酬与考核委员会 关于 2025 年员工持股计划相关事项的核查意见 同兴环保科技股份有限公司（以下简称"公司"）薪酬与考核委员会根据《关 于上市公司实施员工持股计划试点的指导意见》（以下简称《指导意见》）《深 圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》（以下 简称《自律监管指引第 1 号》）等法律法规及规范性文件和《公司章程》的有关 规定，对公司《2025 年员工持股计划（草案）》（以下简称"员工持股计划"） 及其相关事项进行了核查，发表核查意见如下： 同兴环保科技股份有限公司 薪酬与考核委员会 2025 年 7 月 11 日 3、公司本次员工持股计划拟定的持有人均符合《指导意见》《自律监管指 引第 1 号》及其他法律法规和规范性文件规定的持有人条件，符合本次员工持股 计划规定的持有人范围，其作为公司本次员工持股计划持有人的主体资格合法、 有效； 4、公司实施本次员工持股计划可以建立和完善员工、股东的利益共享机制， 提高职工的凝聚力和公司竞争力，使经营者和股东成为利益共同体，提高管理效 率和经营者的积极性、责任心，有利于公司的持续发展和战略实现。 综上所述，公 ...

之法律意见书 同兴环保法律意见书 安徽天禾律师事务所 关于同兴环保科技股份有限公司 2025 年员工持股计划（草案） 安徽天禾律师事务所 ANHUI TIANHE LAW OFFICE 地址：中国合肥濉溪路 278 号财富广场 B 座东楼 16 层 电话：（0551）62642792 传真：（0551）62620450 电子信箱：tianhe@mail.hf.ah.cn 同兴环保法律意见书 安徽天禾律师事务所 关于同兴环保科技股份有限公司 2025 年员工持股计划（草案）之 法律意见书 天律意 2025 第 01782 号 致：同兴环保科技股份有限公司 根据《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》）、《关于上市公司实施员工持股计划试 点的指导意见》（以下简称《试点指导意见》）、《深圳证券交易所上市公司 自律监管指引第 1 号——主板上市公司规范运作》（以下简称《规范运作指 引》）等法律、行政法规、规范性文件和中国证券监督管理委员会（以下简 称"中国证监会"）、深圳证券交易所（以下简称"深交所"）的有关规定， 本所接受同兴环保科技股份有限公司（以下简称"同兴 ...