Core Insights - Hangzhou Garden achieved significant growth in revenue and net profit for the first three quarters of 2025, with revenue reaching 95.87 million yuan and net profit of 7.04 million yuan, representing year-on-year increases of 142.43% and 121.50% respectively [1] - The company’s third-quarter performance was particularly strong, with revenue of 26.96 million yuan and net profit of 15.61 million yuan, showing year-on-year growth of 1218.56% and 1276.30% respectively [1] Company Strengths - Hangzhou Garden possesses a comprehensive high-level qualification system, which provides a significant competitive advantage in securing projects across various types and scales, from large comprehensive garden projects to specialized landscape designs [2] - The company is among the first in China to obtain the "Special Grade Qualification for Landscape Engineering Design," along with multiple other high-level qualifications, enhancing its ability to win quality project resources [2] Industry Trends - The recent Central Urban Work Conference highlighted a shift in urbanization from rapid growth to stable development, emphasizing a people-centered approach in urban construction, which aligns with the company's focus on enhancing urban living environments through landscape design [2] - The global tourism industry is projected to grow significantly, with international tourism spending expected to reach a record $2.1 trillion by 2025, and the Chinese tourism sector anticipated to contribute 13.7 trillion yuan to the national economy in the same year [4] Business Development - Hangzhou Garden has strategically positioned its cultural tourism business as a secondary core business, aiming to upgrade its business structure and cultivate new growth drivers [4] - The company made a strategic investment in Shanghai Xinzhi Source Information Technology Co., which operates in local life services and hotel management, enhancing its capabilities in the cultural tourism sector [5][6] - The establishment of the "Huai Xi Hotel" brand and the integration of local service capabilities are expected to create a closed-loop ecosystem for the cultural tourism business, driving its scalable development [6] Future Outlook - The company is well-positioned to benefit from the urban construction quality improvement trend and the potential of the cultural tourism market, leveraging synergies between its core design business and cultural tourism initiatives to expand market boundaries and enhance profitability [6]

Core Viewpoint - Hangzhou Garden (300649.SZ) reported its Q3 2025 results, indicating a slight decrease in institutional ownership compared to the previous quarter [1] Institutional Ownership - As of October 28, 2025, two institutional investors disclosed holdings in Hangzhou Garden A-shares, totaling 15.4571 million shares, which represents 11.67% of the total share capital [1] - The institutional ownership percentage decreased by 0.06 percentage points compared to the previous quarter [1] Public Fund Holdings - In this reporting period, eight public funds were not disclosed compared to the previous quarter, including funds such as Xinhua Small and Medium-sized Value Selection Mixed Fund and several others from China Europe [1]

Core Insights - The company reported a significant decline in revenue for Q3 2025, amounting to 26,961,845.57 yuan, which represents a year-on-year decrease of 42.30% [2] - Despite the drop in revenue, the net profit attributable to shareholders saw a remarkable increase of 1218.56%, reaching 15,606,425.70 yuan [2] Financial Performance - Revenue for Q3 2025: 26,961,845.57 yuan, down 42.30% year-on-year [2] - Net profit for Q3 2025: 15,606,425.70 yuan, up 1218.56% year-on-year [2]

Core Viewpoint - Hangzhou Garden (300649.SZ) reported a significant decline in revenue for the first three quarters of 2025, while net profit showed substantial growth compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 95.8714 million yuan, a year-on-year decrease of 36.63% [1] - Net profit attributable to shareholders was 7.0393 million yuan, reflecting a year-on-year increase of 142.43% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 4.1695 million yuan, up 121.50% year-on-year [1] - Basic earnings per share were reported at 0.05 yuan [1]

Group 1 - Company reported Q3 performance with revenue of approximately 95.87 million yuan, a year-on-year decrease of 36.63% [1] - Net profit attributable to shareholders was approximately 7.04 million yuan, a year-on-year increase of 142.43% [1] - Basic earnings per share increased to 0.05 yuan, a year-on-year increase of 138.46% [1] Group 2 - As of the report, the market capitalization of the company is 2.2 billion yuan [2]

证券代码：300649 证券简称：杭州园林 公告编号：2025-021 二、监事会会议审议情况 会议由公司监事会主席吴新先生主持，与会监事经过讨论，审议并通过如下 议案： 1、审议通过了关于《公司 2025 年第三季度报告》的议案。 监事会对董事会编制的公司《2025 年第三季度报告》进行了认真严格的审 核，并发表如下审核意见：公司《2025 年第三季度报告》的内容真实、准确、 完整地反映了公司 2025 年前三季度经营的实际情况，不存在任何虚假记载、误 导性陈述或者重大遗漏，报告编制和审核的程序符合法律、行政法规和中国证监 会的规定。 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）上的《2025 年第三季度报告》（公告编号：2025-021）。 杭州园林设计院股份有限公司 第五届监事会第十四次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整,没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 杭州园林设计院股份有限公司（以下简称"公司"）第五届监事会第十四次 会议于 2025 年 10 月 22 日以电话、电子邮件等方式送达各位监事，会议于 20 ...

一、董事会会议召开情况 证券代码：300649 证券简称：杭州园林 公告编号：2025-021 杭州园林设计院股份有限公司 第五届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整,没有虚假记载、 误导性陈述或重大遗漏。 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）上的《2025 年第三季度报告》（公告编号：2025-021）。 表决结果：9 票同意、0 票反对、0 票弃权。同意票数占总票数的 100%。 三、备查文件 1、公司第五届董事会第十五次会议决议； 1 2、公司 2025 年第三季度报告。 特此公告。 杭州园林设计院股份有限公司（以下简称"公司"）第五届董事会第十五次 会议于 2025 年 10 月 22 日以电话、电子邮件等方式通知全体董事，于 2025 年 10 月 28 日上午 9:30 以现场会议加通讯方式在公司会议室召开。本次会议由公司 董事长吕明华先生召集和主持，应出席董事（含独立董事）9 人，实际出席董事 9 人，公司全体监事和高级管理人员列席了本次会议。本次会议出席人数、召开 程序、议事内容均符合《公司法》和《公司章程》 ...

Financial Performance - The company's operating revenue for the third quarter was ¥26,961,845.57, a decrease of 42.30% compared to the same period last year[5] - Net profit attributable to shareholders was ¥15,606,425.70, an increase of 1,218.56% year-on-year[5] - The basic earnings per share reached ¥0.12, reflecting a growth of 1,100.00% compared to the previous year[5] - The company reported a 36.63% decline in operating revenue year-to-date, attributed to macroeconomic fluctuations and industry downturns[9] - Total operating revenue for the third quarter was CNY 95,871,359.28, a decrease of 36.8% compared to CNY 151,293,491.62 in the same period last year[23] - The net profit for the quarter was CNY 7,058,188.81, a significant recovery from a net loss of CNY 17,535,036.01 in the previous year[24] - The company reported an operating profit of CNY 9,125,836.08, compared to an operating loss of CNY 18,268,275.90 in the same quarter last year[24] - The total comprehensive income for the period amounted to 7,058,188.81, compared to a loss of 17,535,036.01 in the previous period[25] - Basic and diluted earnings per share were both 0.05, recovering from a loss of 0.13 in the previous period[25] Cash Flow and Assets - The net cash flow from operating activities was -¥110,099,138.88, a significant decline of 871.79% year-on-year[5] - Cash and cash equivalents decreased to CNY 83,685,928.29 from CNY 195,406,810.69, reflecting a decline of 57.2%[20] - Accounts receivable slightly decreased to CNY 204,872,067.35 from CNY 213,399,086.86, a reduction of 4.9%[20] - The total assets at the end of the reporting period were ¥902,856,057.75, down 9.85% from the end of the previous year[5] - The total assets of the company were CNY 902,856,057.75, down from CNY 1,001,521,131.15, indicating a decrease of 9.8%[20] - Total liabilities decreased to CNY 402,174,277.55 from CNY 501,276,709.31, a reduction of 19.7%[21] - Cash flow from operating activities showed a net outflow of -110,099,138.88, worsening from -11,329,499.03 in the previous period[28] - Cash inflow from operating activities totaled 194,267,218.64, down from 262,267,041.08 in the previous period[28] - Cash outflow from operating activities increased to 304,366,357.52 from 273,596,540.11 in the previous period[28] - Investment activities resulted in a net cash outflow of -72,655,965.56, compared to a net inflow of 3,407,723.78 in the previous period[28] - Financing activities generated a net cash inflow of 32,267,201.37, improving from a net outflow of -8,877,391.87 in the previous period[28] - The total cash and cash equivalents decreased by -150,487,903.07, compared to a decrease of -16,799,167.12 in the previous period[28] Investments and Acquisitions - The company plans to support its subsidiary Hangzhou Wanlin Shulian Technology Service Co., Ltd. in its overseas listing, with board approval obtained on April 26, 2024, and further investment decisions made on September 23, 2025[13] - The total investment for the construction of a smart ecological design R&D headquarters in Yuhang District is capped at 450 million yuan, with contracts signed with local authorities[14] - The company acquired 100% equity of Shanghai Manli Hotel Management Co., Ltd. for 2.46 million yuan, completing the equity change by the report date[17] - The company holds a 49% stake in Chengdu Yutingju Hotel Management Co., Ltd., which has been restructured as a wholly-owned subsidiary of Zhejiang Huize Engineering Design Co., Ltd.[18] - The company’s long-term equity investments increased to CNY 112,235,431.93 from CNY 110,131,205.94, a growth of 1.9%[20] Regulatory and Legal Matters - The company has received a warning letter from the Zhejiang Securities Regulatory Bureau, which has been addressed with corrective measures taken[17] - The company is currently processing foreign exchange procedures related to its overseas investment projects[13] - The company is involved in ongoing litigation regarding overdue payments, with several cases pending court decisions[16] - The company has successfully received a court ruling for 32,042,281.48 yuan in overdue payments from Qionghai Agricultural and Rural Bureau, with all principal amounts collected as of the report date[15] Shareholding Structure - The company’s major shareholders hold a combined indirect stake of 0.99% in the listed company through Hangzhou Yuanzhan Enterprise Management Co., Ltd.[12] - The company has no significant changes in the shareholding structure of the top 10 unrestricted shareholders due to securities lending activities[12] Research and Development - The company’s research and development expenses were CNY 6,988,535.78, down 34.3% from CNY 10,734,434.71 in the previous year[24] Miscellaneous - Short-term borrowings increased by ¥40 million, primarily due to bank loans taken during the reporting period[9] - The weighted average return on equity was 3.00%, an increase of 2.77% compared to the previous year[5] - The company did not undergo an audit for the third quarter financial report[30]

Core Insights - The company reported a third-quarter revenue of 26.96 million yuan, representing a year-on-year decline of 42.30% [1] - The net profit for the third quarter was 15.61 million yuan, showing a significant year-on-year increase of 1,218.56% [1] - For the first three quarters, the total revenue was 95.87 million yuan, down 36.63% compared to the same period last year [1] - The net profit for the first three quarters reached 7.04 million yuan, which is a year-on-year increase of 142.43% [1]

Group 1 - The company plans to increase capital by 49 million yuan for its wholly-owned subsidiary, Susong Hangyuan Information Technology Co., Ltd. (referred to as "Susong Hangyuan") [2] - The company's shareholding ratio in Susong Hangyuan will remain unchanged after the capital increase [2] - The company intends to sign a transfer agreement with Susong Hangyuan to transfer a debt of 50 million yuan owed by Wanlin Shulian Technology Service Co., Ltd. (referred to as "Wanlin Shulian") and all rights and obligations under the share subscription agreement and warrants related to Wanlin Shulian's controlling company and future listing entity, Wanlian Digital Holdings Co., Ltd. [2] - The transfer price for the aforementioned rights and obligations is set at 81.3504 million yuan [2] - Wanlin Shulian plans to go public overseas and will repurchase all shares held by Hangzhou Garden and other shareholders through a targeted capital reduction [2]