关于 中节能国祯环保科技股份有限公司 2025 年第二次临时股东大会的法律意见书 康达股会字【2025】第 0411 号 致：中节能国祯环保科技股份有限公司 北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.: 010-50867666 传真/Fax: 010-56916450 网址/Website: www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达律师事务所 北京市康达律师事务所（以下简称"本所"）接受中节能国祯环保科技股份有限公 司（以下简称"公司"）的委托，指派本所律师参加公司 2025 年第二次临时股东大会 （以下简称"本次会议"），并出具本法律意见书。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"） ...

Core Viewpoint - The company announced that Changjiang Environmental Group and its concerted party, Three Gorges Capital, will reduce their holdings by a total of 6,360,888 shares, representing 0.9340% of the company's total share capital from September 9 to September 12, 2025 [1] Summary by Relevant Sections - Shareholding Change - Changjiang Environmental Group and Three Gorges Capital will collectively reduce their stake in the company by 6,360,888 shares [1] - This reduction accounts for 0.9340% of the total share capital of the company [1] - Impact on Company Structure - The shareholding change will not adversely affect the company's governance structure, equity structure, or ongoing operations [1] - There will be no change in the control of the company as a result of this transaction [1]

中节能国祯环保科技股份有限公司简式权益变动报告书 中节能国祯环保科技股份有限公司 简式权益变动报告书 | 上市公司名称 | 中节能国祯环保科技股份有限公司 | | --- | --- | | 股票上市地点 | 深圳证券交易所 | | 股票简称 | 节能国祯 | | 股票代码 | 300388 | | 信息披露义务人 | 三峡资本控股有限责任公司 | | 住所/通讯地址 | 北京市通州区粮市街 2 号院 5 号楼 22 层 | | 信息披露义务人 | 长江生态环保集团有限公司 | | 住所/通讯地址： | 湖北省武汉市江岸区三阳路 号三阳中心 88 | | 股份变动性质 | 股份减少（股份减持） | 签署日期：2025 年 9 月 15 日 1 中节能国祯环保科技股份有限公司简式权益变动报告书 信息披露义务人声明 一、信息披露义务人依据《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》及相关的法律、法规和部门规章的有关规定编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人 ...

证券代码：300388 证券简称：节能国祯 公告编号：2025-044 中节能国祯环保科技股份有限公司 关于合计持股5%以上股东减持股份至5%以下 并触及1%整数倍暨权益变动的提示性公告 持股 5%以上股东长江生态环保集团有限公司及其一致行动人三峡资本控 股有限责任公司保证向公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 1.本次权益变动系中节能国祯环保科技股份有限公司（以下简称"公司"或 "节能国祯"）持股 5%以上股东长江生态环保集团有限公司（以下简称"长江 环保集团"）及其一致行动人三峡资本控股有限责任公司（以下简称"三峡资 本"）减持公司股份，本次权益变动不触及要约收购。 2.本次权益变动不涉及公司控股股东及实际控制人，不会导致公司控股股 东及实际控制人发生变更，不会影响公司的治理结构和持续经营。 3.本次权益变动后，长江环保集团及其一致行动人三峡资本合计持有公司 股份数量为 34,052,042 股，占公司总股本的 5.0000%（注：5.0000%为四舍五 入原因造成，实际占公司总股本的 ...

Core Viewpoint - The company,节能国祯, has shown a positive stock performance with a closing price of 9.23 yuan, reflecting a 7.33% increase, indicating strong market interest and potential investor confidence [1] Financial Performance - As of September 12, 2025, the trading volume was 543,100 shares with a total transaction value of 509 million yuan [1] - The net inflow of main funds on September 12 was 31.93 million yuan, suggesting active engagement from institutional investors [1] Government Policy Impact - The Anhui Provincial Government has issued a total of 370.29 billion yuan in government bonds, with 184.98 billion yuan being new special bonds, which accounts for 97.4% of the annual new debt limit [1] - The company management is focusing on accounts receivable management and plans to leverage the special bond policies to improve cash flow and address overdue payments to enterprises [1] Market Sentiment - On the same day, retail investors showed a net inflow of 8.14 million yuan, while speculative funds experienced a net outflow of 40.08 million yuan, indicating varied investor sentiment [1]

Group 1 - The core viewpoint of the article highlights the growth in the number of enterprises in the water production and supply industry in China, with a total of 4,146 companies reported as of January to July 2025, marking an increase of 241 companies compared to the same period last year, representing a year-on-year growth of 6.17% [1] - The report indicates that the water production and supply industry accounts for 0.8% of the total industrial enterprises in China [1] - The data referenced in the article is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, a leading industry consulting firm in China [2] Group 2 - The article mentions several listed companies in the water production and supply sector, including Ba'an Water (300262), Energy Conservation Guozhen (300388), Boschke (300422), and others [1] - The report titled "2025-2031 China Water Production and Supply Industry Market Development Scale and Investment Opportunity Analysis Report" was published by Zhiyan Consulting [1] - The threshold for scale industrial enterprises has been raised from an annual main business income of 5 million to 20 million yuan since 2011 [1]

证券代码：300388 证券简称：节能国祯 公告编号：2025-043 特此公告。 中节能国祯环保科技股份有限公司董事会 中节能国祯环保科技股份有限公司 关于持股5%以上股东减持股份触及1%整数倍的公告 持股 5%以上股东长江生态环保集团有限公司及其一致行动人三峡资本控 股有限责任公司保证向公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 中节能国祯环保科技股份有限公司（以下简称"公司"或"节能国祯"）于 近日收到持股 5%以上股东长江生态环保集团有限公司（以下简称"长江环保集 团"）及其一致行动人三峡资本控股有限责任公司（以下简称"三峡资本"） 出具的《关于减持中节能国祯环保科技股份有限公司股份触及 1%整数倍的告 知函》，2025 年 9 月 8 日，三峡资本通过证券交易所集中竞价的方式减持公司 股份合计 4,755,900 股，占公司总股本的 0.70%。根据《证券法》《上市公司收 购管理办法》等有关规定，现将股东减持情况公告如下： 1.基本情况 信息披露义务人 1 三峡资本控股有限责任公司（简称"三峡资本" ...

Market Overview - On September 4, the environmental governance sector rose by 0.42% compared to the previous trading day, with Haixia Environmental leading the gains [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Haixia Environmental (603817) closed at 6.66, up 10.08% with a trading volume of 396,900 shares and a transaction value of 260 million yuan [1] - Wenbululu (301259) closed at 47.20, up 9.87% with a trading volume of 215,100 shares and a transaction value of 1.03 billion yuan [1] - Other notable performers include: - Energy Guozhen (300388) at 7.99, up 7.68% [1] - Yifu Holdings (002266) at 4.02, up 5.79% [1] - Qiaoyin Co. (002973) at 14.21, up 5.26% [1] Fund Flow Analysis - The environmental governance sector experienced a net outflow of 329 million yuan from institutional investors and 173 million yuan from speculative funds, while retail investors saw a net inflow of 502 million yuan [2] - Key fund flows for selected stocks include: - Zhejiang Fuhua Holdings (002266) with a net inflow of 87.14 million yuan from institutional investors [2] - Haixia Environmental (603817) with a net inflow of 81.42 million yuan from institutional investors [2] - Qiaoyin Co. (002973) with a net inflow of 24.21 million yuan from institutional investors [2]

Group 1: Financial Performance - The company achieved a revenue of 1.637 billion CNY in the first half of 2025, representing a decline of 14.08% compared to the previous period, primarily due to a decrease in engineering business revenue [2] - The company reported a net profit of 2.62 million CNY from its subsidiary BIOVAC in Norway during the reporting period [3] - The company’s operating income from water services reached 1.189 billion CNY in the first half of 2025 [8] Group 2: Business Development - In the first half of 2025, the company secured new environmental engineering orders worth 275 million CNY and a new integrated drainage investment project in Feidong valued at 600 million CNY [4] - The company has established a presence in overseas markets, including partnerships for wastewater treatment projects in Ethiopia and operations through its wholly-owned subsidiary BIOVAC in Norway [3] Group 3: Financial Health - As of June 30, 2025, the company's asset-liability ratio stood at 71.28%, which is influenced by different business models and financial strategies within the industry [5] - The company reported a slight improvement in operating cash flow and a minor decrease in the asset-liability ratio compared to the previous year [6]

Core Insights - The company, Energy Guozhen, reported a decline in total revenue and net profit for the first half of 2025 compared to the same period in 2024, with total revenue at 1.637 billion yuan, down 14.08%, and net profit at 181 million yuan, down 6.16% [1] - Despite the decline in revenue and profit, the company's profitability improved, with gross margin increasing by 9.76% to 32.73% and net margin increasing by 13.83% to 12.1% [1] - The company faced challenges in cash flow and debt management, with significant increases in accounts receivable and interest-bearing liabilities [3][6] Financial Performance - Total revenue for the first half of 2025 was 1.637 billion yuan, a decrease of 14.08% from 1.906 billion yuan in 2024 [1] - Net profit for the same period was 181 million yuan, down 6.16% from 193 million yuan in 2024 [1] - The company's gross margin improved to 32.73%, up 9.76%, while net margin rose to 12.1%, an increase of 13.83% [1] - Operating cash flow showed a significant increase of 24.93%, indicating reduced payments to suppliers [4] Cash Flow and Debt Management - The company experienced a 4.77% increase in accounts receivable, attributed to delayed payments from local government projects [3] - Short-term borrowings increased by 17.28% due to the need for additional working capital [3] - Long-term borrowings rose by 8.81% to meet project financing needs [3] - The net increase in cash and cash equivalents decreased by 29.2%, reflecting higher investment expenditures [4] Business Model and Investment Returns - The company's return on invested capital (ROIC) was reported at 4.78%, indicating weak capital returns [5] - The historical median ROIC over the past decade was 6.38%, suggesting a generally weak investment return profile [5] - The company's performance is heavily reliant on capital expenditures, necessitating careful evaluation of the profitability of these investments [5]