Group 1 - The core point of the article is that Mongcao Ecological (SZ 300355) announced the convening of its sixth board meeting to discuss the early termination of a PPP project and debt restructuring [1] - For the first half of 2025, Mongcao Ecological's revenue composition is as follows: 93.97% from natural ecosystem protection management and 6.03% from other businesses [1] - As of the time of reporting, Mongcao Ecological has a market capitalization of 6.5 billion yuan [1]

蒙草生态公告，公司控股子公司蒙源生态与东乌住建局签署的《东乌PPP项目合同》合作期12年，已于 2022年1月1日进入运营期。为把握化债政策窗口期，提高资金使用效率，经协商拟提前终止合作并进行 债务重组。截至2025年12月31日，项目费用总额为2.73亿元，已支付3855.97万元，尚未支付2.34亿元。 根据终止协议，东乌住建局将于签署《资产资料移交清单》后2个工作日内支付1.24亿元，2026年一季 度支付2798.86万元、三季度支付2176.3万元、四季度支付2176.41万元，共计支付1.95亿元后，公司对剩 余债务予以豁免。此次债务重组预计影响公司本期税前利润约-3501.73万元。 ...

证券代码：300355 证券简称：蒙草生态 公告编号：2025-091 蒙草生态环境（集团）股份有限公司 关于 PPP 项目提前终止及债务重组的公告 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。 本终止协议已经公司第六届董事会第四次会议审议通过，根据《深圳证券交 易所股票上市规则》等相关规定，尚需提交股东会审议。本次债务重组不构成关 联交易，亦不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 二、协议对方的基本情况 一、概述 2018 年 8 月 4 日，蒙草生态环境（集团）股份有限公司（简称"公司"） 披露了《关于签署的公告》（公告编号：2018-115）。公司控股 子公司内蒙古蒙源生态环境管理有限公司（简称"蒙源生态"）与东乌珠穆沁旗 住房和城乡建设局（简称"东乌住建局"）签署《东乌珠穆沁旗美化和绿化工程 政府和社会资本合作（PPP）项目 PPP 项目合同》（简称"《东乌 PPP 项目合同》"）， 合同约定蒙源生态承担该项目的投融资、建设、运营维护服务，合作期 12 年。 2022 年 1 月 1 日项目完成建设，进入运营期。 为把握中央及内蒙 ...

Core Viewpoint - The company is implementing innovative desertification control strategies in the Kubuqi Desert, focusing on long-term ecological restoration through advanced technology and sustainable practices [1][7]. Group 1: Ecological Restoration Techniques - The Kubuqi Desert features various ecological types, including mobile/fixed sand dunes and desert grasslands, which require precise seed selection and planting for effective long-term management [2]. - The company employs a "tree-shrub-grass combination" planting model, utilizing 111 proprietary seed varieties to create customized ecological seed packages for sand area restoration [3]. - The "Mengnong No. 1" grass is identified as a preferred species for restoring degraded sandy grasslands, with a mixed planting ratio that enhances vegetation coverage by approximately 20% and species richness by over 30% compared to single-species restoration [5]. Group 2: Technological Innovations - The company has established a mechanical service team for desertification control, significantly increasing operational efficiency by 20 to 30 times compared to traditional manual methods [6]. - Smart equipment, such as AI-driven seed-sowing robots, operates continuously, improving seed survival rates by nearly 20%, reducing water usage by 90%, and cutting seed consumption by 60% [6]. Group 3: Integrated Renewable Energy Solutions - The company collaborates with renewable energy firms to develop a multi-functional ecological photovoltaic desertification control model, integrating sustainable practices with energy production [7]. - This model aims to enhance desert greening while promoting economic development through the cultivation of forage and ecological livestock farming [7]. Group 4: Research and Development - The company is conducting research on integrated grass planting techniques under photovoltaic systems in collaboration with the Northwest Institute of Eco-Environment and Resources, focusing on developing new materials and technologies for sustainable desertification control [9]. Group 5: Comprehensive Service Support - A one-stop ecological service center has been established to provide lifecycle support for desertification control projects, ensuring comprehensive ecological management [10]. - The company utilizes a smart command center for real-time monitoring and management of project quality, progress, and safety, employing drones for daily inspections and intelligent monitoring stations for key indicators [11].

项目广泛采用"以工代赈"模式，让老百姓也能参与到项目之中，修复生态的同时，也为老百姓带来一定 的经济收入。 科尔沁沙地是我国面积最大的沙地，面临分布广、程度重、治理难等生态挑战，其治理成效直接关系到 北疆绿色屏障的稳固与否。 蒙草生态科研团队秉持近自然修复理念，聚焦治理难题，以乡土种源为核心，构建可持续的生态治理技 术体系，为科尔沁沙地歼灭战提供可靠支撑。 乡土种源保障可持续防沙治沙 关键在于科学地选种用种，科研团队扎根科尔沁腹地，结合生态大数据平台，进行深入调研。设立扎鲁 特旗综合试验区，历时4年，因地制宜地对多个草种组合治理成效进行测试。 试验结果表明，以乡土草种为核心配置的科尔沁沙地生态种子包相比商品草种对照组、自然围封恢复以 及其他草种组合，在提升群落高度、盖度及密度方面均表现出持续且显著的优势。 依托扎实的科研成果，蒙草生态在通辽、赤峰、兴安盟等盟市因地制宜、分区施策，规模化应用乡土草 种开展生态修复，治理区平均植被盖度提升35%以上，草原固碳能力大幅提升。 生态包采用的种子包衣技术使种子地上生物量提高3.5倍，表现出良好的耐旱性 为保障治沙效果可持续，蒙草生态在重点治沙区域布局建设一站式生态服务保 ...

Group 1 - The core viewpoint of the articles highlights the efforts of Mongolian Grass Ecological Environment Group Co., Ltd. in ecological restoration and sand control through innovative seed technology and collaborative projects with various industries [2][3] - The company has implemented sand control projects covering 5 million acres, utilizing local grass species to enhance restoration accuracy and sustainability [2] - Mongolian Grass has established a national grass seed resource library and has developed 109 proprietary grass seed varieties, with 25 included in the "Three North" project good seed catalog [2][3] Group 2 - The company has created 280,000 acres of good seed and forage bases, producing 4,500 tons of grass seeds annually to support the "Three North" project [2] - Mongolian Grass has innovated over 1,300 sets of mechanized equipment, increasing restoration efficiency by 30 times [2] - The company is leading the establishment of a national grass industry technology innovation center, collaborating with over 100 enterprises and research institutions to achieve 167 technical results in sand control [3] Group 3 - Mongolian Grass is the only publicly listed company in China focusing on grass seed technology, providing quality product supply and innovative technical services for ecological restoration and grass seed production [3] - The company has preserved over 2,300 types of plant genetic resources and 165,000 soil samples in its resource library, and has established 18 research institutes focused on grass seed technology [3] - Through partnerships with renewable energy and dairy companies, Mongolian Grass is exploring integrated ecological photovoltaic sand control models, achieving significant economic benefits [3]

Core Viewpoint - The recent development of the Mengnong No. 3 alfalfa variety by Mongolian Grass Ecological Company in collaboration with Professor Shi Fengling's team from Inner Mongolia Agricultural University marks a significant advancement in high-yield, drought-resistant, and salt-alkali tolerant forage crops [1][4]. Group 1: Product Details - The Mengnong No. 3 alfalfa variety has been officially registered as a breeding variety with registration number 691 [1]. - This new variety is characterized by its tall growth, with an average height of approximately 112 cm and a seed weight of about 2 grams per thousand seeds [1]. - It is suitable for production in arid and cold regions of northern China, particularly in areas with annual precipitation above 250 mm and soil pH ≤ 8.6 [3]. Group 2: Agricultural Benefits - Mengnong No. 3 alfalfa can produce high-quality hay and is effective in soil improvement, making it a good preceding crop for crop rotation [3]. - The average dry grass yield over three years reaches 6365.28 kg/hm², representing a 9.42% increase compared to the previous Mengnong No. 2 variety [6]. - The protein content of this alfalfa variety can reach up to 22%, indicating its high nutritional value [4][6]. Group 3: Cultivation Techniques - Recommended sowing time for the Mengnong No. 3 alfalfa in central and western Inner Mongolia is mid-May, with adequate base fertilization prior to sowing [7]. - The optimal sowing method includes a row spacing of 40-50 cm and a seeding rate of 0.5-1.0 kg per mu, with a sowing depth of 1-2 cm [7]. - Harvesting should occur at the end of September to prevent seed loss, with post-harvest processing to enhance seed yield [7]. Group 4: Company Achievements - Mongolian Grass Ecological Company currently holds 109 varieties with independent intellectual property rights, contributing to various ecological applications such as sand control, grassland restoration, and saline-alkali land improvement [7].

Core Insights - Inner Mongolia is a key battlefield for the "Three North" project, focusing on ecological governance and sand control through innovative technology and low-cost solutions [1][2] - The company has established a comprehensive ecological service center in the Yellow River "几字弯" area, providing various technical services for sustainable sand control [5] Group 1: Ecological Governance and Innovation - The company has completed nearly 2.07 million acres of sand control and governance in the Bayannur region, utilizing a variety of ecological elements [1] - The establishment of a plant breeding research institute and gene bank in Bayannur ensures a sustainable supply of quality seeds for ecological restoration [1][2] - The average vegetation coverage in governance areas has increased by over 35%, with a 40% rise in the proportion of perennial plants [2] Group 2: Technological Advancements - The company has developed over 1,300 innovative machinery, significantly increasing operational efficiency by 20 to 30 times compared to traditional methods [4] - The use of intelligent machinery has improved seed survival rates by 15% to 20% and reduced water usage by 90% [4] - The integration of ecological restoration with photovoltaic technology has generated an average benefit of over 1,200 yuan per acre [3] Group 3: Comprehensive Service Model - A one-stop ecological service center has been established, offering services such as seed supply, soil conservation, and ecological monitoring [5] - The company employs a full-process product technology system to ensure low-cost and efficient ecological governance [5]

Core Viewpoint - The company, Mongcao Ecological Environment Group, has shown a mixed performance in terms of financing activities and stockholder dynamics, with significant growth in revenue and net profit year-on-year, indicating potential investment opportunities [1][2]. Financing Activities - On November 20, Mongcao Ecological experienced a slight decline of 0.24% in stock price, with a trading volume of 133 million yuan. The financing buy-in amount was 13.79 million yuan, while the financing repayment was 21.43 million yuan, resulting in a net financing outflow of 7.64 million yuan [1]. - The total financing and securities balance as of November 20 was 590 million yuan, accounting for 8.69% of the circulating market value, which is below the 40th percentile level over the past year, indicating a low financing balance [1]. - In terms of securities lending, 200 shares were repaid, and 4,700 shares were sold short on the same day, with a selling amount of 19,900 yuan. The remaining short selling volume was 67,500 shares, with a balance of 285,500 yuan, exceeding the 70th percentile level over the past year, indicating a high level of short selling [1]. Financial Performance - For the period from January to September 2025, Mongcao Ecological reported a revenue of 1.63 billion yuan, representing a year-on-year growth of 38.04%. The net profit attributable to the parent company was 74.35 million yuan, reflecting a year-on-year increase of 48.73% [2]. Shareholder Dynamics - As of September 30, 2025, the number of shareholders for Mongcao Ecological was 80,600, a decrease of 9.90% from the previous period. The average circulating shares per person increased by 10.98% to 16,105 shares [2]. - Since its A-share listing, the company has distributed a total of 483 million yuan in dividends, with 72.19 million yuan distributed over the past three years. The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 10.77 million shares, a decrease of 5.48 million shares from the previous period [3].

Core Points - The company announced the convening of its sixth board meeting on November 20, 2025, to review the appointment of a securities affairs representative [2] - The board approved the appointment of Mr. Chang Lianlong as the company's securities affairs representative [2]