Group 1 - EVE Energy signed a procurement framework agreement with its affiliate, Smoore International, for continuous procurement of battery cells starting from January 1, 2026 [1] - Zhaoyi Information plans to issue H-shares and list on the Hong Kong Stock Exchange [1] - Fuke Environmental announced a change in its stock abbreviation to "Fuke Technology" effective November 26 [1] Group 2 - Dajia Weikang's shareholder and director terminated a share reduction plan ahead of schedule, having reduced 1% of total shares [2] - Aohong Electronics received approval from the China Securities Regulatory Commission for the issuance of convertible bonds [2] - Yingfeng Environment's controlling shareholder plans to issue exchangeable bonds not exceeding 1 billion yuan [2] Group 3 - Longshen Rongfa's subsidiary obtained a renewed drug production license covering various pharmaceutical products [4] - Xinhua News' subsidiary invested 15 million yuan in a fund with a total commitment of 221 million yuan [5] - Guang'an Aizhong appointed two new deputy general managers [6] Group 4 - Fosun Pharma's subsidiary's drug for gastric cancer treatment was included in the breakthrough therapy program by the National Medical Products Administration [7] - Nanjiao Foods reported a significant decline in October net profit due to rising raw material costs [8] - Nanfeng Co. won two nuclear power project bids totaling 928.7 million yuan [10] Group 5 - Puluo Pharmaceutical received a drug registration certificate for its Cefdinir capsules [11] - Liming Co.'s subsidiary received environmental approval for a new pesticide raw material project [12] - Longhua New Materials' expansion project for polyether polyols has commenced trial production [13] Group 6 - Pumen Technology's products received IVDR CE certification from TÜV Rheinland [15] - China Chemical reported new contracts worth 312.67 billion yuan from January to October [18] - China Nuclear Construction achieved new contracts totaling 123.84 billion yuan as of October [19] Group 7 - Changshu Bank's executives plan to purchase at least 550,000 shares of the bank [20] - Shandong Steel's subsidiary is applying for bankruptcy liquidation to focus on core business [21] - Huakang Clean is expected to win a bid for a purification system project worth 176 million yuan [23] Group 8 - Huawu Co. plans to internally transfer subsidiary equity [24] - Tianen Kang's subsidiary received clinical trial acceptance for a new drug [26] - Tianyi Medical's subsidiary obtained a medical device registration certificate for a blood dialysis product [27] Group 9 - Xuelang Environment is facing a pre-restructuring application from creditors [27] - Chitianhua's subsidiary resumed production after passing safety inspections [28] - Huaping Co.'s director plans to reduce 0.03% of company shares [30] Group 10 - Xizhuang Co. plans to establish a wholly-owned subsidiary in Singapore [31] - Ruisheng Intelligent's subsidiary won a 60.23 million yuan ICT project bid [32] - Junyi Digital plans to invest 120 million yuan in Guanghong Precision [33] Group 11 - Fuguang Co.'s controlling shareholder plans to increase holdings between 80 million to 150 million yuan [34] - Ganyue Express reported a 13.68% increase in logistics revenue in October [39] - Jiangsu Sop terminated its 2025 private placement plan [41] Group 12 - Langke Intelligent's shareholders plan to reduce a total of 1.68% of company shares [42] - Yuantong Express reported an 8.97% increase in express product revenue in October [45] - Jinbei Automotive plans to invest 158 million yuan to acquire 52% of Zhongtuo Technology [46]

Group 1 - The company Xuelang Environment (SZ 300385) announced the receipt of a patent certificate from the National Intellectual Property Administration of China for a "solid waste pyrolysis and melting integrated treatment system" [1] - As of January to June 2025, the revenue composition of Xuelang Environment is as follows: waste incineration power generation accounts for 54.98%, industrial waste treatment 27.15%, steel industry 17.38%, and other industries 0.49% [1] - The current market capitalization of Xuelang Environment is 2.2 billion yuan [1]

Core Insights - The environmental governance sector saw a slight increase of 0.45% on November 20, while the Shanghai Composite Index decreased by 0.4% and the Shenzhen Component Index fell by 0.76% [1] Group 1: Market Performance - The environmental governance sector's main stocks experienced mixed performance, with the leading stock being Beijete [1] - The Shanghai Composite Index closed at 3931.05, and the Shenzhen Component Index closed at 12980.82 [1] Group 2: Capital Flow - The environmental governance sector experienced a net outflow of 93.23 million yuan from main funds, while retail investors saw a net outflow of 73.20 million yuan [2] - Conversely, speculative funds recorded a net inflow of 166 million yuan [2] Group 3: Individual Stock Performance - Huicheng Environmental had a main fund net inflow of 97.52 million yuan, while retail investors had a net outflow of 86.75 million yuan [2] - Shengyuan Environmental saw a main fund net inflow of 86.25 million yuan, with a retail net outflow of 12.70 million yuan [2] - Beijete recorded a main fund net inflow of 75.07 million yuan, but faced a retail net outflow of 33.78 million yuan [2] - Other notable stocks included Fulongma, Sandamembrane, and Dechuang Environmental, each with varying levels of net inflows and outflows from different investor categories [2]

证券代码：300385 证券简称：雪浪环境 公告编号：2025-092 无锡雪浪环境科技股份有限公司 关于取得专利证书的公告 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。 无锡雪浪环境科技股份有限公司（以下简称"雪浪环境"或"公司"）于近 日收到了中华人民共和国国家知识产权局颁发的 1 项专利证书，具体情况如下： | 专利名称 | 专利类型 | 专利号 | 专利 | 专利申 | 应用领域 | | --- | --- | --- | --- | --- | --- | | | | | 权人 | 请日 | | | 一种固废热解熔 | | | | | | | 融一体化处理系 | 实用新型 | ZL202422842804.8 | 雪浪环境 | 2024.11.21 | 固废资源化 | | 统 | | | | | | 上述专利为公司自主研发，其所涉及技术与公司主要技术相关，该专利尚未 应用于公司产品。 上述专利的取得和运用，不会对公司生产经营造成重大影响，但有利于公司 进一步完善知识产权保护体系，形成持续创新机制，保持技术领先地位，提升公 司的核心竞争力。 特此公告 ...

Shareholder Reduction - Qi Yun Investment of Su Da Co., Ltd. plans to reduce its stake by no more than 3% [1] - Great Wall Asset Management of Hunan Baiyin plans to reduce its stake by no more than 1.95% [1] - Jingguo Rui and the National Integrated Circuit Fund of Yan Dong Wei plan to collectively reduce their stake by no more than 2.5% [1] - The controlling shareholder of Renmin Tongtai, Harbin Pharmaceutical Group, plans to reduce its stake by no more than 1% [1] - The shareholder of ST Yishite, Dongfang Group, plans to reduce its stake by no more than 3% [1] - Liu Xiaopeng and Zheng Yong of Langke Intelligent plan to collectively reduce their stake by no more than 1.68% [1] - Multiple shareholders of Jinkai Biotechnology plan to collectively reduce their stake by no more than 5.94% [1] - Chen Guoxing of Meidixi plans to reduce his stake by no more than 1.64% [1] - Yatai Yizhao of Zhengzhong Design has cumulatively reduced its stake by 2.92% [1] - Miao Yufang of General Shenti has cumulatively reduced its stake by 1.09% [1] - Xu Xiangcan of Mind Electronics has cumulatively reduced its stake by 1.6429% [1] Other Company News - ST Dongyi's stock is subject to additional delisting risk warnings [1] - Xuelang Environment has been applied for pre-restructuring by creditors [1]

Core Viewpoint - Wuxi Xuelang Environmental Technology Co., Ltd. is facing severe financial difficulties, leading to a pre-restructuring application by creditor Jiangsu Xinniu Cable Co., Ltd. due to the company's inability to repay debts and lack of repayment capacity, although it has restructuring value [1] Financial Performance - As of September 30, 2025, the company's total assets decreased to 2.29 billion, down 16.26% from 2.735 billion at the end of 2024; total liabilities increased to 2.143 billion, with the debt-to-asset ratio rising from 89% to 93.6% [1] - The equity attributable to the parent company dropped significantly to 82.41 million, a decrease of 65.65% from 240 million at the end of 2024 [1] Profitability Issues - For the first nine months of 2025, the company reported revenue of 263 million, a year-on-year decline of 33.51%; the net loss attributable to shareholders was 158 million, although it was an improvement from the full-year loss of 464 million in 2024 [2] - Cumulative losses have persisted for several years, with undistributed profits at -427 million by the end of 2024, exceeding the paid-in capital of 333 million, necessitating shareholder meeting review as per company law [2] Impairment Losses - The root cause of the losses includes significant impairment losses from underperforming acquisitions, with 519 million and 104 million impairment recorded for Nanjing Zhuoyue Environmental Technology Co., Ltd. and Shanghai Changying Environmental Service Co., Ltd. respectively [2] - In 2024, additional impairments of 30 million for Nanjing Zhuoyue's asset group and 18 million for Shanghai Changying's goodwill were also recorded [2] Operational Challenges - The suspension of the solid waste resource utilization project by Nanjing Zhuoyue led to an asset impairment loss of 14.25 million in 2024 [3] - The company's main business is under pressure due to macroeconomic conditions and intensified industry competition, resulting in declining gross margins in the environmental equipment and hazardous waste disposal sector [3] - Delays in project execution and collection cycles have exacerbated cash flow issues, creating a vicious cycle of declining revenue, tight cash flow, and debt defaults [3] Future Outlook - The board of directors stated that the company will actively respond to the pre-restructuring application in accordance with the Enterprise Bankruptcy Law, aiming to maintain stable daily operations regardless of the outcome [3] - The acceptance of the pre-restructuring application by the Wuxi Intermediate People's Court will be a critical first step in determining the company's future [3]

Acquisitions - Chenyi Intelligent plans to acquire 55% equity of Huaze Electronics for cash, making Huaze a subsidiary after the transaction [1] - Beijiete intends to acquire 55% equity of Dahao Mining for 224.8 million yuan, which will be included in the consolidated financial statements post-transaction [2] - Jinbei Automotive aims to invest 158 million yuan to acquire 52% equity of Zhongtuo Technology through capital subscription and equity transfer, resulting in Zhongtuo becoming a subsidiary [3] Performance Disclosure - SF Holding reported a 13.68% year-on-year increase in express logistics revenue for October, totaling 20.091 billion yuan, with a business volume of 1.524 billion pieces, up 26.26% [4] - YTO Express announced an 8.97% year-on-year growth in express product revenue for October, reaching 6.216 billion yuan, with a business volume of 2.79 billion pieces, up 12.78% [5] - Yunda Holdings experienced a 0.88% year-on-year decline in express service revenue for October, totaling 4.495 billion yuan, with a business volume of 2.135 billion pieces, down 5.11% [6] Shareholding Changes - Kanglongda announced that Huzhou Helin Fund plans to reduce its stake by up to 3%, equating to a maximum of 4.8333 million shares [7] - Yandong Microelectronics disclosed that the National Integrated Circuit Fund and Jingguorui plan to reduce their stakes by a combined maximum of 2.5%, with the National Fund reducing up to 21.4143 million shares and Jingguorui up to 14.2762 million shares [8] - Fuguang Co., Ltd. reported that its controlling shareholder plans to increase its stake by no less than 80 million yuan and no more than 150 million yuan, with a minimum purchase price of 21 yuan per share [9] Risk Matters - Xuelang Environment received a pre-restructuring application from a creditor, citing the company's inability to repay due debts and lack of repayment capacity, but indicating potential for restructuring [10] - Jieqiang Equipment received a warning letter from Tianjin Securities Regulatory Bureau for administrative regulatory measures due to compliance issues [11] - Hefei Urban Construction confirmed that its operations are normal and there are no undisclosed significant matters, despite abnormal stock price fluctuations [12]

重整计划执行完毕有利于化解雪浪环境债务风险，优化公司资产负债结构，提升公司的持续经营及盈利 能力。如公司或管理人未按期提出重整计划草案、重整计划草案未获得法院裁定批准，或债务人不能执 行或不执行重整计划的，法院将裁定终止公司重整程序，并宣告公司破产，公司股票将被终止上市。 "无论公司未来是否进入预重整或重整程序，公司均将在现有基础上积极做好日常生产经营管理工 作。"雪浪环境表示。 雪浪环境的烟气净化与灰渣处理业务是公司的传统业务，主要包括了烟气净化与灰渣处理系统的设计、 销售及安装，相应于此的主要产品是烟气净化和灰渣处理系统设备。公司危废处置相关业务既包括对危 险废弃物的焚烧、物化和填埋处置，又包括危废处置设备的设计、生产、销售及安装。公司资源化利用 领域相关业务是指公司为客户提供定制化的资源化利用类设备成套、EPC及工艺设计等多种服务，涉及 领域包括农业、市政和工业。 2025年前三季度，雪浪环境实现营业收入2.63亿元，同比减少33.51%；实现净利润-1.58亿元，同比减少 4.22%；实现扣非净利润-1.64亿元，同比减少6.16%。 雪浪环境（300385）11月19日晚公告，公司收到债权人江苏鑫牛 ...

Core Viewpoint - Xuelang Environment (300385) has received a notice from creditor Jiangsu Xinniu Cable Co., Ltd., applying for pre-restructuring due to the company's inability to repay due debts and a clear lack of repayment capacity, despite having restructuring value [1] Group 1 - The creditor has filed a request with the Wuxi Intermediate People's Court for the company to undergo pre-restructuring [1] - The application cites the company's inability to settle its due debts as a primary reason for the restructuring request [1] - The creditor believes that the company still possesses restructuring value, which is a key factor in the application [1]

格隆汇11月19日｜雪浪环境公告，公司收到债权人江苏鑫牛线缆有限公司送达的《通知书》，申请人以 公司不能清偿到期债务且明显缺乏清偿能力，但具有重整价值为由，向无锡市中级人民法院申请对公司 进行预重整。截至本公告披露日，公司尚未收到法院受理本次预重整的文件，申请人的申请能否被法院 受理、公司后续是否进入预重整或重整程序均存在不确定性。 ...