Core Viewpoint - Xuelang Environment (300385) has initiated a lawsuit against Zunyi Hongcheng Municipal Group Co., Ltd. due to a contract dispute, with the case accepted by the court on August 29, 2025 [1][2]. Summary by Relevant Sections Lawsuit Details - The plaintiff is Wuxi Xuelang Environment Technology Co., Ltd., and the defendant is Zunyi Hongcheng Municipal Group Co., Ltd. The lawsuit seeks the court to order the defendant to pay the remaining contract amount of 75.84 million yuan (94.80 million yuan minus the 18.96 million yuan already paid) and to renegotiate the warranty period for the equipment [2]. - The plaintiff also requests the return of a performance bond of 5 million yuan and a penalty of 584.75 thousand yuan (5% of 11.695 million yuan) from the defendant, with litigation costs to be borne by the defendant [2]. - The contract, signed on March 27, 2023, has a total value of 116.95 million yuan, divided into two phases: 94.80 million yuan for the first phase and 22.15 million yuan for the second phase. The plaintiff paid a performance bond of 5 million yuan, and the defendant made a 20% advance payment of 18.96 million yuan on June 2, 2023 [2]. Other Litigation and Arbitration Situations - As of the announcement date, excluding disclosed situations and this lawsuit, the company (including its subsidiaries) has experienced a total of 8.8535 million yuan in undisclosed litigation and arbitration matters over the past twelve months, accounting for 3.69% of the company's most recent audited net assets [3]. Impact of the Lawsuit on the Company - This lawsuit is viewed as a legitimate action by Xuelang Environment to protect its rights. As the case has not yet been heard, it is currently impossible to assess its impact on the company's profits for the current and future periods [4].

证券代码：300385 证券简称：雪浪环境 公告编号：2025-071 无锡雪浪环境科技股份有限公司 关于公司提起诉讼的公告 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。 特别提示： 1、案件所处的诉讼阶段：立案受理，尚未开庭审理。 2、公司所处的当事人地位：公司为原告。 3、涉案金额：8,668.75 万元。 4、对公司损益产生的影响：截止本公告日，案件尚未开庭审理，目前暂无 法预计本案对公司本期及期后利润的具体影响。公司将依据会计准则的要求和届 时的实际情况进行相应的会计处理，具体以公司财务报告为准。公司将及时履行 信息披露义务，敬请投资者注意投资风险。 （3）判令被告向原告支付违约金 584.75 万元（11,695*5%）； （4）本案诉讼费用由被告承担。 近日，无锡雪浪环境科技股份有限公司（以下简称"公司"）起诉遵义红城 市政集团有限公司买卖合同纠纷一案，贵州省遵义市汇川区人民法院已于今日受 理登记立案，案号为（2025）黔 0303 民初 9411 号，本案尚未开庭。根据《深圳 证券交易所创业板股票上市规则》第 8.7.3 条规定，该案件已达到披 ...

合同资产变动幅度为-33.81%,原因:本期新增质保金较少。 长期股权投资的变动原因:本期新增投资。 短期借款变动幅度为57.44%,原因:本期银行融资增加。 交易性金融资产变动幅度为-100.0%,原因:本期理财产品赎回。 应收款项融资变动幅度为-82.08%,原因:本期票据支付增加。 一年内到期的非流动资产变动幅度为-45.54%,原因:本期一年内到期的长期待摊费用减少。 其他流动资产变动幅度为30.49%,原因:本期待抵扣进项税增加。 应付职工薪酬变动幅度为-50.18%,原因:本期发放上期年终奖。 应交税费变动幅度为-31.06%,原因:本期应交增值税较少。 一年内到期的非流动负债变动幅度为-34.75%,原因:本期一年内到期的长期贷款减少。 营业收入变动幅度为-29.86%,原因:本期完工项目减少。 所得税费用变动幅度为278.71%,原因:本期递延所得税增加。 研发投入变动幅度为-44.38%,原因:本期研发投入减少。 投资活动产生的现金流量净额变动幅度为259.44%,原因:本期赎回理财产品较多。 筹资活动产生的现金流量净额变动幅度为492.35%,原因:本期贷款增加。 现金及现金等价物净增加额 ...

Core Viewpoint - The financial performance of Xuelang Environment (300385) for the first half of 2025 shows significant declines in revenue and profit, indicating increased short-term debt pressure and poor operational efficiency [1] Financial Performance Summary - Total revenue for the first half of 2025 was 215 million yuan, a decrease of 29.86% year-on-year [1] - Net profit attributable to shareholders was -100 million yuan, down 1.6% year-on-year [1] - The gross margin was -8.18%, a decrease of 227.81% year-on-year, while the net margin was -47.53%, down 46.77% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 78.55 million yuan, accounting for 36.57% of revenue, an increase of 22.79% year-on-year [1] - Earnings per share were -0.30 yuan, a decrease of 1.62% year-on-year [1] Cash Flow and Debt Analysis - Cash and cash equivalents increased by 104.3% due to the redemption of financial products [5] - Short-term borrowings increased by 57.44% due to increased bank financing [3] - The current ratio was 0.83, indicating potential liquidity issues [1][7] Investment and Operational Insights - The company’s return on invested capital (ROIC) has been weak, with a median of 5.16% over the past decade and a particularly poor ROIC of -25.56% in 2024 [6] - The business model relies heavily on marketing-driven performance, necessitating further investigation into the underlying drivers [6] Changes in Financial Items - Contract assets decreased by 33.81% due to fewer warranty deposits [3] - Long-term equity investments increased due to new investments [3] - The company experienced a significant decrease in research and development expenses by 44.38% [5]

Market Overview - The environmental governance sector experienced a decline of 2.63% on August 27, with Xuelang Environment leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Notable gainers in the environmental governance sector included: - Dechuang Environmental: closed at 11.98, up 10.01% with a trading volume of 73,400 shares [1] - Zhongsheng High-Tech: closed at 20.68, up 10.00% with a trading volume of 208,200 shares [1] - Zhongchi Co., Ltd.: closed at 10.06, up 7.94% with a trading volume of 282,600 shares [1] - Conversely, significant decliners included: - Xuelang Environment: closed at 5.28, down 7.69% with a trading volume of 150,300 shares [2] - Liyuan Technology: closed at 10.53, down 7.47% with a trading volume of 57,000 shares [2] - Dadi Ocean: closed at 29.79, down 7.20% with a trading volume of 40,100 shares [2] Capital Flow - The environmental governance sector saw a net outflow of 900 million yuan from institutional investors, while retail investors contributed a net inflow of 650 million yuan [2] - The capital flow for specific stocks showed: - Feima International: net inflow of 13.6 million yuan from institutional investors [3] - Zhongsheng High-Tech: net inflow of 82.4 million yuan from institutional investors [3] - Zhongchi Co., Ltd.: net inflow of 68.5 million yuan from institutional investors [3]

8月27日，雪浪环境跌5.07%，截至发稿，报5.43元/股，成交4009.79万元，换手率2.48%，总市值18.09 亿元。 资料显示，无锡雪浪环境科技股份有限公司位于江苏省无锡市滨湖区蠡湖大道2020号，成立日期2001年 2月12日，上市日期2014年6月26日，公司主营业务涉及烟气净化与灰渣处理系统设备的研发、生产、系 统集成、销售及服务,环保项目运营。主营业务收入构成为：垃圾焚烧发电54.98%，工业废物处理 27.15%，钢铁17.38%，其他0.49%。 从雪浪环境十大流通股东角度 数据显示，诺安基金旗下1只基金位居雪浪环境十大流通股东。诺安多策略混合A（320016）二季度新 进十大流通股东，持有股数190.72万股，占流通股的比例为0.66%。根据测算，今日浮亏损失约55.31万 元。 诺安多策略混合A（320016）成立日期2011年8月9日，最新规模13.99亿。今年以来收益66.58%，同类 排名172/8194；近一年收益133.99%，同类排名58/7963；成立以来收益221.5%。 责任编辑：小浪快报 诺安多策略混合A（320016）基金经理为孔宪政、王海畅。 截至发稿，孔宪 ...

Group 1 - The core point of the article is that Xuelang Environment (SZ 300385) held its 21st meeting of the 5th Board of Directors on August 26, 2025, where it reviewed the full and summary reports for the first half of 2025 [1] - For the first half of 2025, the revenue composition of Xuelang Environment is as follows: waste incineration power generation accounted for 54.98%, industrial waste treatment accounted for 27.15%, the steel industry accounted for 17.38%, and other industries accounted for 0.49% [1]

（编辑 李家琪） 证券日报网讯 8月26日晚间，雪浪环境发布公告称，公司控股子公司南京卓越环保科技有限公司因经营 需要，拟向中国光大银行股份有限公司南京分行申请授信额度1，000万元，期限为一年，公司拟为其上 述综合授信事项提供连带责任担保。2025年8月26日，公司第五届董事会第二十一次会议通过了《关于 为公司控股子公司融资提供担保的议案》。 ...

Core Viewpoint - Xuelang Environment (300385) announced the appointment of Mr. Xie Wutao as the new General Manager (President) of the company [1] Company Summary - The company has made a significant leadership change by appointing a new General Manager, which may impact its strategic direction and operational efficiency [1]

Group 1 - The core viewpoint of the article is that Xuelang Environment (300385.SZ) reported a significant decline in revenue and incurred losses in the first half of 2025 [1] Group 2 - The company achieved an operating income of 215 million yuan, representing a year-on-year decrease of 29.86% [1] - The net profit attributable to shareholders of the listed company was -100 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -105 million yuan [1] - The basic earnings per share were -0.3009 yuan [1]