Group 1 - The company, Shanshui Bide, held its 25th meeting of the third board of directors on October 21, 2025, to discuss the proposal for reserving stock options for incentive targets [1] - The meeting was conducted in person at the company's conference room [1] Group 2 - The interview with He Keng emphasized the need to shift funding focus from excessive investment in housing and infrastructure to enhancing investments in the livelihood sector [1]

Core Points - The Shenzhen Stock Exchange issued a regulatory letter to Guangzhou Shanshui Bide Design Co., Ltd. and its executives due to violations related to the management of idle raised funds [1][2] - The company used idle raised funds for cash management from September 2021 to August 2023, involving 22 transactions, with 3 being principal-protected and 19 non-principal-protected products [1] - The company failed to accurately disclose the types of financial products used in cash management and did not sufficiently warn about the risks associated with non-principal-protected products [1] Company Responsibilities - The chairman and general manager, Cai Bin, and the board secretary, Qin Peng, did not fulfill their duties and are held responsible for the company's violations [2] - Former chairman and general manager, Sun Hu, along with former board secretary and CFO, Zhou Qiao, also failed to perform their responsibilities, contributing to the company's regulatory issues [2] - The entire board of directors is required to ensure that information disclosure is truthful, accurate, and complete, and they bear individual and joint responsibility for any misrepresentation or omissions [2]

深圳市他山企业管理咨询有限公司 关于广州山水比德设计股份有限公司 2025 年股票期权激励计划预留授予事项的 独立财务顾问报告 二〇二五年十月 | 目 | 录 | 2 | | --- | --- | --- | | 释 | 义 | 3 | | 声 | 明 | 4 | | 一、本激励计划已履行的必要程序 | | 5 | | 二、本次授予条件成就说明 | | 6 | | 三、本次授予情况 | | 7 | | 四、结论性意见 | | 9 | | 五、备查信息 | | 10 | 深圳市他山企业管理咨询有限公司 独立财务顾问报告 释 义 除非上下文文意另有所指，下列词语具有如下含义： | 山水比德、公司 | 指 | 广州山水比德设计股份有限公司 | | --- | --- | --- | | 本激励计划 | 指 | 广州山水比德设计股份有限公司 2025 年股票期权激励 | | | | 计划 | | 《股权激励计划（草案）》 | 指 | 《广州山水比德设计股份有限公司 年股票期权激 2025 | | | | 励计划（草案）》 | | 独立财务顾问报告、本报告 | | 《深圳市他山企业管理咨询有限公司关于广州山水比 | ...

广州山水比德设计股份有限公司监事会 关于 2025 年股票期权激励计划激励对象名单（预留授予日）的 核查意见 一、激励对象符合《公司法》《证券法》《公司章程》规定的任职资格；符 合《深圳证券交易所创业板股票上市规则》规定的激励对象条件，包括：1、不 存在最近 12 个月内被证券交易所认定为不适当人选的情形；2、不存在最近 12 个月内被中国证监会及其派出机构认定为不适当人选的情形；3、不存在最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处罚或者采取市场 禁入措施的情形；4、不存在具有《公司法》规定的不得担任公司董事、高级管 理人员情形的情形；5、不存在具有法律法规规定不得参与上市公司股权激励的 情形；6、不存在中国证监会认定的其他情形。 二、激励对象均为公司（含子公司）核心员工，不包括公司董事、监事、高 级管理人员、单独或合计持有公司 5%以上股份的股东或实际控制人及其配偶、 父母、子女，符合《2025 年股票期权激励计划（草案）》规定的激励对象范围。 综上，列入 2025 年股票期权激励计划激励对象名单（预留授予日）的人员 的主体资格合法、有效。 广州山水比德设计股份有限公司监事会 202 ...

（一）审议通过《关于向激励对象预留授予股票期权的议案》 根据《上市公司股权激励管理办法》《深圳证券交易所创业板上市公司自律监管指 南第 1 号—业务办理》《2025 年股票期权激励计划（草案）》的有关规定，以及 2025 年第二次临时股东大会的授权，董事会认为 2025 年股票期权激励计划规定的授予条件 已成就，同意确定 2025 年 10 月 21 日为预留授予日，向 5 名激励对象共计授予 36.00 万份股票期权，行权价格为 43.81 元/股。 证券代码：300844 证券简称：山水比德 公告编号：2025-069 广州山水比德设计股份有限公司 第三届董事会第二十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 广州山水比德设计股份有限公司（以下简称"公司"）第三届董事会第二十五次会 议于 2025 年 10 月 21 日（星期二）在公司会议室以现场会议方式顺利召开。会议通知 已于 2025 年 10 月 13 日（星期一）以邮件、电话等形式发出。本次会议应出席董事 9 人，实际出席董事 9 人，不存在董事委托其 ...

（一）审议通过《关于向激励对象预留授予股票期权的议案》 经与会监事认真讨论与审议，监事会认为： 1、公司不存在《上市公司股权激励管理办法》规定的禁止实施股权激励计划的情形， 公司具备实施股权激励计划的主体资格。 2、激励对象符合《公司法》《证券法》《公司章程》规定的任职资格，符合《深圳 证券交易所创业板股票上市规则》规定的激励对象条件，符合《2025 年股票期权激励计 划（草案）》规定的激励对象范围，主体资格合法、有效。 证券代码：300844 证券简称：山水比德 公告编号：2025-070 广州山水比德设计股份有限公司 第三届监事会第二十五次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、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 广州山水比德设计股份有限公司（以下简称"公司"）第三届监事会第二十五次会 议于 2025 年 10 月 21 日（星期二）在公司会议室以现场会议方式顺利召开。会议通知 已于 2025 年 10 月 13 日（星期一）以邮件、电话等形式发出。本次会议应出席监事 3 人，实际出席监事 3 人，不存在监事委托其他监事代为出席或缺席会议的情形。 ...

北京大成（广州）律师事务所 关于广州山水比德设计股份有限公司 2025 年股票期权激励计划预留授予事项 的 法 律 意 见 书 www.dentons.cn 中国广州市珠江新城珠江东路 6 号周大福金融中心（东塔）14、15 楼全层（510623） 14F,15F CTF Finance Centre, No.6,Zhujiang East Road, Zhujiang New Town,Guangzhou,P.R.China,510623 Tel: +86 20-8527 7000 Fax: +86 20-8527 7002 | 释 | | 义 2 | | --- | --- | --- | | 正 | 文 | 5 | | | | 一、本次授予的批准与授权 5 | | | | 二、本次授予的授予日 7 | | | | 三、本次授予的授予条件 7 | | | | 四、本次授予的激励对象、授予数量和行权价格 8 | | | | 五、本次授予的信息披露 8 | | | 六、结论 | 9 | 释 义 本法律意见书中，除非另有说明，下列词语或简称具有如下含义： | 公司/上市公司/山水 | 指 | 广州山水比德设计股 ...

证券代码：300844 证券简称：山水比德 公告编号：2025-071 广州山水比德设计股份有限公司 关于向激励对象预留授予股票期权的公告 2、股票来源：本激励计划的股票来源为公司定向增发 A 股普通股。 3、授予数量：本激励计划授予股票期权共计 270.50 万份，占本激励计划公告之日 公司股本总额的 2.99%。其中，首次授予 234.50 万份，占本激励计划股票期权授予总额 的 86.69%，占本激励计划公告之日公司股本总额的 2.59%；预留授予 36.00 万份，占本 激励计划股票期权授予总额的 13.31%，占本激励计划公告之日公司股本总额的 0.40%。 自本激励计划公告之日起至激励对象获授的股票期权行权前，如公司发生资本公积转增 股本、派发股票红利、股票拆细、缩股、配股等事项的，股票期权的授予数量将进行相 应调整。 4、激励对象：本激励计划首次授予的激励对象不超过 79 人，均为公司（含子公司） 核心员工（不包括公司董事、监事、高级管理人员、单独或合计持有公司 5%以上股份的 股东或实际控制人及其配偶、父母、子女）。预留授予的激励对象参照首次授予的激励 对象的标准确定。 5、有效期：本激励计划 ...

Core Viewpoint - The company Shanshui Bide (300844.SZ) received a warning letter from the Guangdong Securities Regulatory Bureau due to violations related to the management and use of raised funds [1][2][3] Group 1: Regulatory Violations - From September 2021 to August 2023, the company used idle raised funds for cash management, involving 22 transactions, of which 3 were principal-protected and 19 were non-principal-protected [2] - The company failed to accurately disclose the types of financial products used in cash management and did not sufficiently warn about the risks associated with non-principal-protected products [2] - These actions violated multiple regulations, including the "Guidelines for the Management and Use of Raised Funds by Listed Companies" [2] Group 2: Company Leadership Responsibility - Key executives, including Chairman Cai Bin and Secretary Qin Peng, were found primarily responsible for the company's violations due to their failure to fulfill their duties as per the information disclosure regulations [3] - The company’s major shareholders, including Sun Hu and Cai Bin, have a close relationship and jointly control several investment entities [3] Group 3: Company Background and Financials - Shanshui Bide was listed on the Shenzhen Stock Exchange on August 13, 2021, with an initial price of 80.23 yuan per share, raising a total of 810 million yuan, netting 691 million yuan after expenses [4] - The company’s stock price peaked at 116.11 yuan on its first trading day but has since experienced a decline, currently trading below its initial offering price [4] - The company has a history of dividend distribution, with a plan to increase shares by 4 for every 10 held in May 2025 [5]

Core Viewpoint - The company, Guangzhou Shanshui Bide Design Co., Ltd., received a warning letter from the China Securities Regulatory Commission for inadequate disclosure regarding the use of idle raised funds, particularly concerning the safety of principal investments [2] Company Overview - Guangzhou Shanshui Bide Design Co., Ltd. was established on April 9, 2007, with a registered capital of 90.496 million RMB. The company is headquartered in Haizhu District, Guangzhou [2] - The main business includes landscape design, architectural design, and engineering contracting (EPC) [2] Management and Structure - The current chairman is Cai Bin, and the secretary of the board is Qin Peng. The company has 1,271 employees, with Sun Hu and Cai Bin as the actual controllers [3] Financial Performance - Projected revenues for 2024 and Q2 2025 are 459 million RMB, 88.8251 million RMB, and 225 million RMB, reflecting year-on-year growth of 37.84%, 5.27%, and 24.98% respectively [4] - The net profit attributable to the parent company for the same periods is 28.6237 million RMB, -5.366 million RMB, and 1.9067 million RMB, with year-on-year growth rates of 126.42%, -192.11%, and -84.36% respectively [4] - The asset-liability ratios for the periods are 18.36%, 20.64%, and 22.60% [4] Risk Factors - The company has a total of 323 risk entries in the Tianyancha database, with 24 surrounding risks, 22 historical risks, and 153 warning risks [5]