Group 1 - Zhaoyi Innovation plans to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [3] - ST Zhongdi has decided to abandon the commercial opportunity for the Jiageng Ke Yi City land project, with the controlling shareholder planning to develop the project instead [4] - Xichang Electric Power expects a reduction of approximately 5.4 million yuan in net profit for 2025 due to adjustments in the time-of-use electricity pricing mechanism [5] Group 2 - Sanfu New Materials intends to invest 620 million yuan in a project for high-safety dry electrode battery key materials and high-frequency electronic information composite materials [6] - Weifu High-Tech's subsidiary plans to establish a joint venture with Baolong Technology to expand the active suspension motor hydraulic pump business [7] - Yulong Co., Ltd. will have its stock delisted on May 27, 2025, following a decision by the Shanghai Stock Exchange [8] Group 3 - Chen'an Technology's shareholder is transferring 6.27% of the company's shares to Hefei Guotou, aiming to introduce strategic investors [9] - Huamao Technology is planning to acquire a 100% stake in Fuchuang Youyue, with stock trading suspended for up to 10 trading days [11] - Baolong Technology's subsidiary will collaborate with Weifu High-Tech's subsidiary to develop core components for the active suspension system [12] Group 4 - Zhongnong Lihua intends to acquire at least 50% of Taizhou Agricultural Supplies, enhancing its product and service range [13] - Weiling Co., Ltd.'s subsidiary has successfully acquired 74.3% of Jiayu Mining for 220 million yuan, focusing on expanding into the non-ferrous metal resource sector [14][15] - Hengshi Technology's subsidiary has been approved for public transfer of shares on the New Third Board [16] Group 5 - Xiang Teng New Materials plans to acquire an additional 12.5% stake in its subsidiary Shanghai Shangda for 25.3 million yuan [17] - ST Texin has extended its employee stock ownership plan by 12 months, reflecting confidence in the company's long-term development [18] - Baili Electric has issued a risk warning regarding its stock price increase, indicating no significant changes in fundamentals [19] Group 6 - Hu Silicon Industry plans to acquire minority stakes in three semiconductor companies for approximately 7.04 billion yuan [20][21] - Demais plans to change its controlling shareholder, leading to a temporary suspension of stock trading [22] - FAW Fuwei has received a notice from a well-known new energy brand for a project expected to generate 1.06 billion yuan in total sales over its lifecycle [23] Group 7 - Hangyang Co. plans to establish a subsidiary for a large modular cryogenic equipment manufacturing project with an estimated investment of 557 million yuan [24] - Jiewate intends to acquire 40.89% of Tianyi Hexin for 319 million yuan, enhancing its product line in the signal chain category [25] - Dingxin Communications has elected a new chairman following the resignation of the previous chairman [26][27] Group 8 - Aofei Entertainment plans to invest 10 million yuan in a partnership to indirectly invest in AI robotics company Xuan Yuan Technology [28] - Huaxi Energy's controlling shareholder has been detained, but the company states that operations remain normal [29] - Yihe Jiaye will change its stock name to "Ruimaite" starting May 21 [30] Group 9 - Zhongjin Environment will change its name to "Southern Pump Industry" effective May 21 [31] - Hong Sifang's subsidiary plans to invest approximately 1.49 billion yuan in a new chemical materials and fertilizers industrial park [32] - Buchang Pharmaceutical's subsidiary has signed a research agreement for MF59 adjuvant with a pharmaceutical company [33] Group 10 - Hongjing Technology has signed a service contract worth 597 million yuan for a smart computing project [34] - Zhuojin Co. has won a bid for a soil remediation project worth 67.68 million yuan [35] - Xinjiang Jiaojian has been awarded a contract for a highway project valued at 451 million yuan [36] Group 11 - China National Materials Energy's subsidiary has signed a contract for an EPC project in Uzbekistan worth approximately 1.252 billion yuan [37] - Ruixin Microelectronics' shareholder plans to reduce its stake by up to 2% [38] - Shanghai Yizhong's shareholder also plans to reduce its stake by up to 2% [39] Group 12 - Sanyou Medical's controlling shareholder plans to reduce its stake by up to 1.44% [40] - Hangdian Co.'s controlling shareholder plans to reduce its stake by up to 1.93% [41] - Shangwei New Materials' shareholder plans to reduce its stake by up to 3% [42] Group 13 - Mingchen Health plans to repurchase shares worth between 30 million and 50 million yuan [43] - Jiuhua Tourism plans to raise up to 500 million yuan through a private placement for various projects [44] - Yuegui Co. plans to raise up to 900 million yuan for several projects [46]

Core Viewpoint - The company has completed the absorption and merger of its wholly-owned subsidiary, Nanfang Pump Industry Co., Ltd., and has undergone a name change to reflect this merger [1] Group 1 - The company's Chinese name is now "南方泵业股份有限公司" and the English name is "Nanfang Pump Industry Co., Ltd." [1] - The stock abbreviation has changed from "中金环境" to "南方泵业," while the stock code remains unchanged [1] - The registered capital has been adjusted from 1.922 billion yuan to 1.921 billion yuan [1] Group 2 - The merger and name change will not have a significant impact on the company's normal operations, financial status, or operating results [1]

证券代码：300145 证券简称：中金环境 公告编号：2025-034 南方中金环境股份有限公司 关于完成吸收合并子公司、变更公司名称、证券简称、经 营范围、注册资本、修订《公司章程》暨完成工商变更登 记的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 重要内容提示： 1、公司吸收合并子公司工作已实施完毕，原子公司南方泵业股份有限公司 已完成工商注销手续。本次吸收合并完成后，原子公司南方泵业股份有限公司的 独立法人资格被注销，其全部资产、债权、债务及其他一切权利与义务由公司继 承； 2、公司中文全称由"南方中金环境股份有限公司"变更为"南方泵业股份 有限公司"； 南方中金环境股份有限公司（以下简称"公司"）第五届董事会第二十三次 会议、2024 年第二次临时股东大会均审议通过了《关于公司拟吸收合并全资子 公司的议案》、《关于拟变更公司名称、证券简称和经营范围的议案》；公司 2024 1 年年度股东大会再次确认并审议通过《关于变更公司名称、证券简称、经营范围 及修订<公司章程>的议案》。具体内容详见公司 2024 年 10 月 30 日、2024 年 11 ...

◇ 南京总部 Nanjing HQ 江苏省南京市北京西路69-2号, 210013 No.69-2, West Beijing Road，Nanjing, Jiangsu, 210013, P.R.China +86 25 8328 6688 / 8328 6699 +86 25 8328 6688 ◇ 江苏联盛（无锡）律师事务所 Wuxi Office 江苏省无锡市滨湖区隐秀路800号西塔上海中心城开国际12楼, 214072 12F, Shanghai Center, West Tower, 800 Yinxiu Road, Wuxi, Jiangsu, 214072, P.R.China +86 510 8888 0007 +86 510 8281 5096 江苏联盛（无锡）律师事务所 关于南方中金环境股份有限公司 2024 年年度股东大会的 法律意见书 致：南方中金环境股份有限公司 江苏联盛（无锡）律师事务所（以下简称"本所"）受南方中金 环境股份有限公司（以下简称"公司"）的委托，指派本所律师出席 公司 2024 年年度股东大会（以下简称"本次股东大会")，并根据《中 华人民共和国公司法》(以下简称 ...

证券代码：300145 证券简称：中金环境 公告编号：2025-033 南方中金环境股份有限公司 2024 年年度股东大会决议公告 3、本次股东大会增加临时提案情况： 鉴于南方中金环境股份有限公司（以下简称"中金环境"或"公司"）第五 届董事会第二十三次会议已审议通过《关于公司拟吸收合并全资子公司的议案》 及《关于拟变更公司名称、证券简称和经营范围的议案》，吸收合并全资子公司 南方泵业股份有限公司工作已经完成，且 2025 年 4 月 23 日中金环境已获得浙江 省市场监督管理局出具的关于同意中金环境变更企业名称为"南方泵业股份有限 公司"的企业名称预核准；根据企业名称变更相关规定，需中金环境股东大会进 一步审议并确认变更公司名称、证券简称、经营范围及修订《公司章程》事项。 为提高公司决策效率，公司控股股东无锡市市政公用产业集团有限公司于 2025 年 4 月 29 日出具《关于提请增加中金环境 2024 年年度股东大会临时提案 的函》，提议将《关于变更公司名称、证券简称、经营范围及修订<公司章程>的 议案》以临时提案的方式提交公司 2024 年年度股东大会审议。据《中华人民共 和国公司法》、《上市公司股东大 ...

Industry Overview - The Chinese pump industry continues to show steady growth, with a market size projected to reach 247.2 billion yuan in 2024, representing a year-on-year increase of 4.88% [1][14] - The main drivers of demand include infrastructure investment, industrial upgrades, and stringent environmental policies [1][14] - Infrastructure investment is expected to grow by 6.5% in 2024, directly boosting the demand for municipal water supply and drainage pumps [1][14] - The transition towards high-end manufacturing is driving the demand for industrial pumps, while stricter environmental regulations are expanding the market for energy-saving pumps [1][14] Industry Development History - The Chinese pump industry has evolved through five key stages, starting from its inception in 1868 to the current rapid development phase [5][6][7] - The industry saw significant growth during the reform and opening-up period (1979-1990), with the introduction of foreign technology and the emergence of private enterprises [6][7] - Since 2001, the industry has experienced historic technological advancements, with an increase in the localization rate of high-end products [7] Market Size and Trade - In the first quarter of 2025, China's pump industry showed a differentiated trade pattern, with imports amounting to 6.468 billion yuan (up 1.22%) and exports reaching 17.552 billion yuan (up 12.39%) [11] - Domestic pumps are expected to capture 68% of the market share by 2024, with certain high-end products still showing a 20% reliance on imports [11][12] Key Companies - Major players in the industry include Kaiquan Pump Industry, Southern Pump Industry, and Oriental Pump Industry, which dominate the market through technological barriers and brand advantages [16] - Smaller companies like New界 Pump Industry focus on niche markets, leveraging cost advantages to avoid direct competition with larger firms [16] Industry Trends - The industry is undergoing a technological revolution centered on artificial intelligence and the Internet of Things, enhancing production efficiency and operational cost reduction [22] - There is a growing demand for energy-efficient pumps driven by environmental goals, with stainless steel pumps increasingly replacing traditional cast iron pumps [23][24] - Chinese pump companies are expanding globally, with exports expected to reach 70 billion yuan in 2024, particularly in Southeast Asia and Africa [25]

Investment Rating - The report maintains an "Outperform" rating for Nanfang Zhongjin Environment (NZE) [2] Core Views - NZE's 2024 revenue and attributable net profit are projected to be RMB 5.054 billion and RMB 218.25 million, respectively, reflecting a year-on-year decline of 6.98% and an increase of 8.81% [2][6] - The manufacturing sector is under pressure, but overseas revenue has shown growth, reaching RMB 869 million, a year-on-year increase of 14.83% [3] - The environmental management segment has improved, with significant revenue growth in various sub-segments, leading to a notable reduction in overall losses [4] - The company is focusing on enhancing its core manufacturing business while expanding into new applications such as renewable energy and data centers [2][4] Financial Summary - For 2024, NZE's manufacturing segment is expected to generate revenue and attributable net profit of approximately RMB 4.416 billion and RMB 432 million, respectively, representing declines of 7.9% and 19.6% year-on-year [3] - The environmental operations and consulting segments are projected to achieve revenues of RMB 6.1 billion and RMB 16.9 billion, respectively, with year-on-year growth rates of 13.83% and 56.01% [4] - The company’s operating cash flow for 2024 is expected to be RMB 714 million, with a capital expenditure of RMB 325 million, indicating a stable cash flow situation [5] - The target price for NZE is set at RMB 3.81, down from a previous estimate of RMB 4.46, based on a revised earnings forecast [6]

Group 1: Accounts Receivable Management - The company has implemented an internal audit system for accounts receivable recovery, including legal actions for some debts [1] - As of the end of 2024, total accounts receivable amounted to ¥21.17 billion, with the environmental protection sector accounting for approximately 51.3% [2] - Bad debts are reported at ¥4.44 billion [2] Group 2: Smart Manufacturing and Innovation - The Deqing smart manufacturing project is partially operational, with ongoing equipment installation and debugging [2] - R&D investment for 2024 is 4.86% of total revenue, highlighting the company's commitment to innovation [2] - The company has established partnerships with numerous universities for "industry-university-research" collaborations and has received multiple national and provincial awards [2] Group 3: Market Position and Future Directions - The company aims to focus on the manufacturing sector, particularly in pump manufacturing, while gradually exiting the environmental business [3] - The company has a total of 48,226 shareholders, including 2,368 institutional investors as of May 9, 2025 [3] - The company plans to enhance its market presence in data centers and other new applications, although there is currently no direct cooperation with Alibaba [3] Group 4: Financial Performance and Dividends - The company is currently unable to distribute profits due to negative distributable profits in consolidated and parent company statements [3] - The manufacturing sector faced challenges in profitability last year, but operations are reported to be normal and orderly for the first half of 2025 [3] Group 5: International Operations and Risk Management - The company exports products to over 90 countries, with U.S. sales accounting for only 0.79% of the manufacturing segment's revenue in 2023 [3] - The company has established a production base in the U.S., mitigating the impact of potential tariff increases [3] Group 6: Product Applications in Emerging Markets - The company is involved in liquid cooling systems for data centers and has begun to establish a presence in the semiconductor industry [5] - Products are designed to provide core power for cooling systems in various applications, including wind power and energy storage [5]

证券代码：300145 证券简称：中金环境 公告编号：2025-032 发行要素 南方中金环境股份有限公司 25 南方中金 | 名称 | 简称 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 代码 | 012581127 期限 | | | | | | 270 | 日 | | | | | | 起息日 | 2025 年 | 05 | 月 | 12 | 日 | 兑付日 | 2026 | 年 | 02 | 月 | 06 | 日 | | 计划发行总额 | 实际发行总额 | | | | | | | | | | | | | （万元） | （万元） | | | | | | | | | | | | | 发行利率 | 发行价 | | | | | | | | | | | | | （%） | （百元面值） | | | | | | | | | | | | | 簿记管理人 | 兴业银行股份有限公司 | | | | | | | | | | | | | 主承销商 | 兴业银行股份 ...

证券代码：300145 证券简称：中金环境 公告编号：2025-032 南方中金环境股份有限公司 2025 年度第一期科技创新债券发行结果公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 | | 发行要素 | | | | --- | --- | --- | --- | | 名称 | 南方中金环境股份有限公司 | 简称 | 25 南方中金 | | | 2025 年度第一期科技创新债券 | | SCP001（科创债） | | 代码 | 012581127 | 期限 | 270 日 | | 起息日 | 2025 年 05 月 12 日 | 兑付日 | 2026 年 02 月 06 日 | | 计划发行总额 | 20,000.00 | 实际发行总额 | 20,000.00 | | （万元） | | （万元） | | | 发行利率 | 1.86 | 发行价 | 100.00 | | （%） | （百元面值） | | | | 簿记管理人 | 兴业银行股份有限公司 | | | | 主承销商 | 兴业银行股份有限公司 | | | | 联席主承销商 | 江苏银行股份有限公司 ...