证券代码：300266 证券简称：兴源环境 公告编号：2025-048 兴源环境科技股份有限公司 关于股东权益变动的提示性公告 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。 重要提示： 1、本次权益变动为公司拟向特定对象发行 A 股股票导致公司股本结构发生 变化； 2、本次向特定对象发行尚需有权国有资产监督管理部门批准、获得公司股 东会审议通过，经深圳证券交易所（以下简称"深交所"）审核通过并获得中国 证券监督管理委员会（以下简称"中国证监会"）同意注册的批复后方可实施。 一、本次权益变动基本情况 兴源环境科技股份有限公司（以下简称"公司"）于 2025 年 5 月 12 日召开 第六届董事会第四次会议及第六届监事会第四次会议，审议通过了《兴源环境科 技股份有限公司 2025 年度向特定对象发行 A 股股票预案》。 根据上述向特定对象发行预案测算，本次发行完成后，公司股东权益变动情 况提示说明如下： 公司本次向特定对象发行 A 股股票的发行对象为公司控股股东宁波锦奉智 能科技有限公司（以下简称"锦奉科技"）。本次发行数量不超过 2.4 亿股（含 本数），募集 ...

兴源环境科技股份有限公司 详式权益变动报告书 上市公司名称：兴源环境科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：兴源环境 股票代码：300266.SZ 权益变动性质：股份增加（认购上市公司向特定对象发行股票） 签署日期：二〇二五年五月 信息披露义务人声明 信息披露义务人：宁波锦奉智能科技有限公司 住所及通讯地址：浙江省宁波市奉化区锦屏街道河头路151号5楼502 室 一致行动人： 上海天倚道投资管理有限公司-天倚道新弘18号私募证券投资基金 上海天倚道投资管理有限公司-天倚道晨雨传祺贰号私募证券投资基 金 住所及通讯地址：上海市浦东新区大团镇永春东路16号205室 本声明所述的词语或简称与本报告书"释义"部分所定义的词语或简称具 有相同的含义。 一、本报告书系根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准 则第 15 号——权益变动报告书》《公开发行证券的公司信息披露内容与格式准 则第 16 号——上市公司收购报告书》及相关法律、法规、规范性文件之规定编 写。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发 ...

甬兴证券有限公司 关于 《兴源环境科技股份有限公司 详式权益变动报告书》 财务顾问核查意见 财务顾问 之 二〇二五年五月 风险提示及声明 一、重要声明 根据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证 券的公司信息披露内容与格式准则第 15 号——权益变动报告书》及《公开发行 证券的公司信息披露内容与格式准则第 16 号——上市公司收购报告书》等法律 法规和规范性文件的规定，甬兴证券有限公司（以下简称"本财务顾问"）按 照行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的精神，对本次 权益变动的相关情况和资料进行了核查，对信息披露义务人出具的《兴源环境 科技股份有限公司详式权益变动报告书》所披露的内容出具核查意见，以供投 资者和有关各方参考。 为此，本财务顾问特作出以下声明： 1、本财务顾问已按照规定履行尽职调查义务，对信息披露义务人披露的 《兴源环境科技股份有限公司详式权益变动报告书》进行了核查，确信披露文 件内容与格式符合规定，并有充分理由确信所发表的专业意见与信息披露义务 人披露的文件内容不存在实质性差异； 2、本财务顾问有充分理由确信本次权益变动符合相关法律、行政法规的规 定，有充 ...

Core Viewpoint - The company, Xingyuan Environment, is attempting to raise 497 million yuan through a private placement to its controlling shareholder, Jin Feng Technology, at a price of 2.07 yuan per share, which is a 28% discount to the closing price on the announcement day, indicating the company's ongoing financial struggles and operational difficulties [1][2]. Financial Condition - As of the end of 2024, the company's total liabilities reached 8.8 billion yuan, with a debt-to-asset ratio of 92%. Short-term interest-bearing liabilities amounted to 1.146 billion yuan, while cash reserves were only 547 million yuan, resulting in a short-term debt repayment gap of 600 million yuan [2]. - The company has reported negative net profits for seven consecutive years from 2018 to 2024, with continued losses in the first quarter of 2025, highlighting its persistent profitability issues [2]. Shareholder Dynamics - Since its listing in 2011, the company has distributed only 89.25 million yuan in cash dividends, while the former major shareholder has cashed out over 2 billion yuan through share reductions. The retained earnings for 2024 stand at -2.764 billion yuan, and although there is a commitment to a cash dividend ratio of no less than 10% over the next three years, this appears unrealistic given the ongoing losses [2]. - The private placement price of 2.07 yuan per share is significantly lower than the market price of 2.87 yuan, providing the controlling shareholder, Jin Feng Technology, with nearly 40% potential profit margin [2]. Historical Performance and Management Issues - The company has faced declining performance since its IPO, leading to a series of acquisitions from 2013 to 2016, which expanded its business into environmental management. However, these acquisitions resulted in frequent issues, including penalties for inflated revenues and significant goodwill impairments exceeding 1.2 billion yuan [3]. - The former actual controller, Zhou Liwu, cashed out approximately 2 billion yuan before leaving, and the new investor, New Hope Group (Liu Yonghao), has also failed to reverse the company's downward trend, with losses exceeding 2 billion yuan from 2019 to 2023 [3].

根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券 发行注册管理办法》等有关法律、法规及规范性文件的规定，经过对公司实际情 况及相关事项进行自查和论证，监事会认为公司各项条件符合现行法律、法规和 规范性文件中关于上市公司向特定对象发行股票的有关规定，具备本次向特定对 象发行股票的资格和条件。 证券代码：300266 证券简称：兴源环境 公告编号：2025-039 兴源环境科技股份有限公司 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 兴源环境科技股份有限公司（以下简称"公司"）第六届监事会第四次会议 于2025年5月12日以通讯方式召开。会议通知已经于2025年5月9日以电子邮件方 式送达全体监事。本次会议应出席监事3人，实际出席监事3人。本次会议的通知、 召开以及参会监事人数均符合相关法律、法规、规则及《公司章程》的有关规定。 本次会议形成以下决议： 一、审议通过《关于公司符合向特定对象发行股票条件的议案》 本议案尚需提交公司股东大会审议。 表决结果：同意3票，反对0票，弃权0票。 二、逐项审议通过《关于公司2025年度向特定对象发行A股股 ...

Meeting Overview - The company will hold a shareholder meeting on May 29, 2025, at 14:00, with network voting available from 9:15 to 15:00 on the same day [1][2] - Shareholders can choose to attend in person or vote online, with the first vote being the valid one in case of duplicate votes [1][2] Shareholder Rights - All registered shareholders as of May 23, 2025, have the right to attend the meeting or appoint a proxy to vote on their behalf [2] - The meeting will also include company directors, supervisors, senior management, and a witnessing lawyer [2] Agenda Items - Key proposals include the issuance of A-shares to specific targets, a report on the issuance plan, and a three-year shareholder return plan for 2025-2027 [2][3] - Other proposals involve the establishment of a special account for raised funds and authorization for the board to handle stock issuance matters [2][3] Voting Procedures - The company will provide a network voting platform through the Shenzhen Stock Exchange, with detailed procedures outlined in an attachment [4] - Shareholders must complete registration procedures, either in person or via mail, by May 28, 2025 [3][4] Additional Information - Contact information for inquiries is provided, including a phone number and a contact person [4] - Attachments include detailed voting procedures and forms for shareholder registration and proxy authorization [4][5]

Group 1 - The company plans to raise a maximum of 496.8 million yuan through a private placement of A-shares to improve its capital structure and reduce financial costs [1][2] - The raised funds will be used entirely to supplement working capital and repay loans, addressing the company's liquidity issues and debt pressure [2][4] - The company's asset-liability ratio at the end of 2022, 2023, and 2024 indicates a need for capital structure improvement due to high debt levels [1] Group 2 - The issuance will lead to an increase in total assets and net assets, resulting in a decrease in the asset-liability ratio and an optimized capital structure [2][4] - The company operates in three main business areas: environmental protection and agricultural equipment, comprehensive environmental governance, and energy storage and dual-carbon innovation [2] - The ongoing national push for ecological civilization and green low-carbon industries is expected to drive rapid growth in the company's business sectors [2] Group 3 - The company has established a modern corporate governance structure and a robust internal control environment to manage the raised funds effectively [3] - The funds will help meet the financial demands of the company's expanding and upgrading operations, promoting sustainable and healthy development [3][4] - The issuance aligns with national industrial policies and the company's strategic development direction, benefiting all shareholders [3][4]

Core Viewpoint - The company has faced regulatory scrutiny and penalties over the past five years due to financial discrepancies and has implemented corrective measures to address these issues [1][2][4]. Recent Regulatory Actions and Corrections - The company was penalized by the China Securities Regulatory Commission (CSRC) for inflating revenue and profits in its 2016 financial reports, resulting in a fine of 2 million yuan and a warning to the company and its former financial director [1][4]. - The company has established a special rectification task force led by the chairman to address the issues identified in the regulatory actions and has begun a thorough review of its financial practices since May 2023 [2][5]. - The company has engaged a qualified accounting firm to verify the corrections made to its financial statements from 2016 to 2022, ensuring compliance with disclosure obligations [2][7]. Financial Discrepancies - The company reported inflated revenue of 90.63 million yuan and inflated profit of 22.02 million yuan in its 2016 financial statements, which led to significant discrepancies in its financial reporting from 2016 to 2022 [1][6]. - In 2021, the company initially forecasted a net profit of 10 million to 15 million yuan but later revised this to a loss of 35 million to 38 million yuan, prompting regulatory scrutiny for inaccurate disclosures [4][5]. Internal Control Enhancements - The company has committed to strengthening its financial management and internal audit processes, enhancing communication between departments, and improving its internal control systems to prevent future discrepancies [5][6]. - The former financial director has resigned, and a new financial director has been appointed to oversee the implementation of these improvements [7][8].

Core Viewpoint - The company is issuing A-shares to specific investors, which may dilute immediate returns for existing shareholders, and has proposed measures to mitigate this impact [1][6][10] Group 1: Impact of Share Issuance - The issuance of shares is expected to increase the total share count from 1,553,807,314 to 1,793,807,314 [4] - The company reported a net loss of 302.26 million yuan for 2024, with a net loss of 374.84 million yuan after excluding non-recurring gains and losses [2][4] - Three scenarios for 2025 net profit were analyzed: 1. Continued loss at 302.26 million yuan [3] 2. Loss reduced by 50% to 151.13 million yuan [5] 3. Profit of 10 million yuan [5] Group 2: Financial Metrics Post-Issuance - Basic earnings per share (EPS) before issuance is -0.19 yuan, projected to improve to -0.17 yuan post-issuance under the first scenario [4] - The diluted EPS is expected to change from -0.19 yuan to -0.17 yuan post-issuance [4] - The weighted average return on equity (ROE) is projected to decrease from -22.64% to -20.71% post-issuance under the first scenario [4] Group 3: Measures to Mitigate Dilution - The company plans to enhance operational efficiency and improve cash flow management to counteract the dilution of immediate returns [6][7] - A comprehensive dividend policy has been established to ensure fair returns to investors, including specific conditions for cash dividends [8] - The company has committed to strict governance and compliance with regulations to protect shareholder interests [8][9] Group 4: Commitments from Management - The company's board and senior management have made commitments to ensure the effectiveness of measures to mitigate the dilution of immediate returns [9][10] - The controlling shareholder has also pledged not to interfere with the company's management and to uphold shareholder interests [9][10]

Core Viewpoint - The company, Xingyuan Environment Technology Co., Ltd., has signed a conditional share subscription agreement with a related party, Ningbo Jinpeng Intelligent Technology Co., Ltd., to issue A-shares, aiming to raise up to RMB 496.8 million for working capital and debt repayment [1][9]. Group 1: Transaction Overview - The company plans to issue A-shares to Ningbo Jinpeng Intelligent Technology Co., Ltd. for a total amount not exceeding RMB 496.8 million, with a subscription price of RMB 2.07 per share, which is 80% of the average trading price over the previous 20 trading days [1][4]. - The number of shares to be subscribed by Jinpeng Technology will not exceed 240 million shares, accounting for 30% of the company's total share capital prior to the issuance [1][2]. Group 2: Related Party Information - Ningbo Jinpeng Intelligent Technology Co., Ltd. is the controlling shareholder of the company, and this transaction is classified as a related party transaction under the Shenzhen Stock Exchange rules [2][9]. - The company’s board of directors and independent directors have approved the transaction, which still requires approval from the shareholders' meeting, with related shareholders abstaining from voting [2][10]. Group 3: Subscription Agreement Details - The subscription agreement includes provisions for the adjustment of the subscription price in case of capital changes, such as cash dividends or stock splits [4][5]. - The shares subscribed by Jinpeng Technology will be locked for 18 months post-issuance, and any derived shares from stock dividends will also be subject to the same lock-up period [6][7]. Group 4: Purpose and Impact - The transaction aims to enhance the company's production capacity and competitiveness, strengthen its capital base, and support long-term operational development [9][10]. - The funds raised will contribute to the company's sustainable development and align with the interests of all shareholders [9].