上海锦天城（青岛）律师事务所 关于青岛冠中生态股份有限公司 2024 年年度股东大会的 法律意见书 地址：青岛市市南区香港中路 8 号甲青岛中心大厦 A 座 45 层 电话：0532-55769166 传真：0532-55769155 邮编：266071 上海锦天城（青岛）律师事务所 关于青岛冠中生态股份有限公司 2024 年年度股东大会的 法律意见书 致青岛冠中生态股份有限公司： 上海锦天城（青岛）律师事务所（以下简称"本所"）接受青岛冠中生态股 份有限公司（以下简称"公司"或"冠中生态"）的委托，指派陈静、钟文浩律 师出席了公司于 2025 年 5 月 21 日召开的 2024 年年度股东大会（以下简称"本 次股东大会"）。现根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）和《上市公司股东大会 规则》（以下简称"《股东大会规则》"）、《深圳证券交易所上市公司自律监 管指引第 2 号——创业板上市公司规范运作》等法律、行政法规、规范性文件以 及《青岛冠中生态股份有限公司章程》（以下简称"《公司章程》"）的规定， 对本次股东大会会议的召集、召开程序是 ...

中国经济网北京5月21日讯冠中生态（300948）(300948.SZ)近期披露的2024年年度报告显示，2024年公 司实现营业收入1.45亿元，同比下降61.46%；归属于上市公司股东的净利润-7090.02万元，上年同期为 3417.21万元；归属于上市公司股东的扣除非经常性损益的净利润-7818.32万元，上年同期为3100.46万 元；经营活动产生的现金流量净额-5796.92万元，上年同期为-2855.76万元。 | | 2024 年 | 2023 年 | 本年比上年增减 | 2022 年 | | --- | --- | --- | --- | --- | | 营业收入(元) | 145, 288, 145. 05 | 377,024,042.79 | -61. 46% | 453, 349, 628. 91 | | 归属于上市公司股东的净利润 (元) | -70, 900, 209. 07 | 34, 172, 065. 74 | -307. 48% | 56,234,584.04 | | 归属于上市公司股东的扣除非 经常性损益的净利润(元) | -78, 183, 216. 75 | 31,0 ...

Company Overview - Qingdao Guanzhong Ecological Co., Ltd. focuses on ecological restoration technology and project implementation [2] - The company has a significant presence in regions such as Shandong, Yunnan, and Guangxi [2] Financial Performance - In 2024, the company signed new contracts worth CNY 1.52 billion, with CNY 655 million from comprehensive land remediation projects and CNY 751 million from signed contracts [2] - The expected revenue for 2025 is between CNY 200 million and CNY 300 million, representing a growth of 40%-110% compared to the previous year [8] - The projected profit for 2025 is between CNY 0 and CNY 5 million, indicating a growth of 100%-110% year-on-year [8] Project Implementation and Cash Flow - As of the end of 2024, cash receipts from land remediation projects accounted for 88% of accounts receivable in this category [3] - The cash collection cycle for projects typically ranges from 1 to 3 years, influenced by contract terms and regional factors [3] - The company is enhancing cash collection efforts through legal actions and government debt resolution initiatives, expecting significant improvement in 2025 [4] Business Expansion and Strategy - The company is exploring new business avenues, including zero-carbon buildings and overseas market expansion in Central Asia and the Middle East [5] - There is a focus on technological advancements to extend the industry chain and promote internal growth [5] - The company aims to maintain its core business while seeking external mergers and acquisitions for growth [13] Cost Management and Efficiency - Measures to reduce costs include refined management practices, procurement management, and salary reductions for management [11] - The company emphasizes high-quality development by integrating new technologies and practices in response to stricter project regulations [13] Investor Relations and Market Strategy - The company plans to enhance investor returns through increased cash dividends and share buybacks [12] - Ongoing communication with investors through various channels is prioritized to convey company value [12]

青岛冠中生态股份有限公司 关于董事会、监事会延期换届的提示性公告 | 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。 | 青岛冠中生态股份有限公司(以下简称"公司")第四届董事会、监事 会任期将于2025年5月19日届满。鉴于新修订的《中华人民共和国公司法》 （以下简称《公司法》）、《上市公司章程指引》及《关于新〈公司法〉 配套制度规则实施相关过渡期安排》等要求，以及公司换届选举工作尚在 筹备中，为确保公司相关工作的连续性和稳定性，公司董事会、监事会的 换届选举工作将适当延期，董事会各专门委员会成员、高级管理人员的任 期亦相应顺延。 在换届选举工作完成之前，公司第四届董事会、监事会全体成员及高 级管理人员将依照《公司法》《深圳证券交易所创业板股票上市规则》《深 圳证券交易所上市公司自律监管指引第2 号——创业板上市公司规范运 作》等法律法规和《公司章程》的相关规定继续履行董事、监事、高级管 理人员的职责和义务。董事会、监事会延期换届不会对公司的正常生产经 营产生不利影响，公司将积极推进相关工作，尽快完成董事会、监事会的 换届，并及时履行 ...

证券代码：300948 证券简称：冠中生态 公告编号：2025-038 债券代码：123207 债券简称：冠中转债 青岛冠中生态股份有限公司 关于使用闲置募集资金购买理财产品到期赎回 并再次进行现金管理的公告 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。 青岛冠中生态股份有限公司（以下简称"公司"）于2024年7月4 日召开第四届董事会第十七次会议、第四届监事会第十四次会议，审议 通过了《关于使用暂时闲置募集资金进行现金管理的议案》，为提高募 集资金使用效率，董事会同意公司在确保不影响可转换公司债券募集资 金投资项目建设及有效控制风险的情况下，使用暂时闲置募集资金额度 不超过人民币23,000万元（含本数）进行现金管理，投资流动性好的结 构性存款、大额存单、收益凭证等安全性高的保本型产品，使用期限自 董事会审议通过之日起12个月内，单个投资产品的投资期限不超过12 个月。在上述额度和期限内，资金可循环滚动使用。 公司保荐机构对上述事项发表了明确同意的意见。具体内容详见公 司于2024年7月4日在中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.c ...

Group 1: Company Performance and Challenges - The company's stock price has been in a long-term decline since its listing, with the initial price at 13 RMB and future issuance expected to be at a reasonable price [2][3] - The decline in performance for 2024 is attributed to several factors, including slowed project implementation, reduced revenue from government-funded projects, and significant financial costs amounting to 20.68 million RMB [4][5][6] - The company reported a credit impairment loss of 41.89 million RMB for accounts receivable and contract assets, which significantly impacted the total profit [6] Group 2: Strategic Measures for Recovery - In 2025, the company aims to implement a dual-market strategy focusing on domestic and international markets to improve performance and achieve profitability [6] - The company plans to enhance its core competitiveness through technology upgrades and precise market segmentation, particularly targeting the Central Asian market [6] - Measures to mitigate risks include strengthening project manager accountability, improving asset turnover rates, and enhancing collection efforts for accounts receivable [8] Group 3: Convertible Bonds and Shareholder Engagement - As of the end of 2024, the conversion of convertible bonds accounted for only 0.01% of the total shares issued prior to the conversion period [7] - The company has provisions for adjusting the conversion price of convertible bonds if the stock price falls below 85% of the conversion price for 15 out of 30 trading days [7] - The transfer of shares from the controlling shareholder to Yang Enguang was completed at a price of 8.50 RMB per share, with the final payment due within 24 months of the transfer [9][10]

Financial Performance - In 2024, the company reported a revenue of 145.29 million yuan, a decrease of 61.46% compared to the previous year [3] - The net profit attributable to shareholders was -70.90 million yuan, a decline of 307.48% year-on-year [3] - The financial expenses for 2024 amounted to 20.68 million yuan, primarily due to interest expenses related to bonds [3] Reasons for Performance Decline - Project implementation delays led to a significant drop in revenue, as the company relies heavily on government-funded projects, which faced budget constraints [3] - Cost reductions in completed projects resulted in lower revenue and net profit [3] - The company recognized additional impairment losses totaling 41.89 million yuan for accounts receivable and contract assets [3] Strategic Goals for 2025 - The company aims to achieve a profit target of 0-5 million yuan in 2025, representing a growth of 100%-110% compared to the previous year [5] - Plans to enhance operational performance by focusing on core business and expanding into both domestic and international markets [4] - Emphasis on low-risk, high-quality development and leveraging technology for efficient management [4] Investor Relations and Funding - The company raised a net amount of 257 million yuan from its initial public offering, with 230 million yuan allocated for financial management [4] - The company intends to improve investor relations and communicate its value proposition effectively [4] Industry Context - The ecological environment construction industry is facing challenges such as market downturns and increased competition, leading to limited revenue growth and rising operational costs [7] - The company is exploring new profit growth points in areas like comprehensive governance and land remediation [6] Future Collaborations and Innovations - The company is open to partnerships with state-owned enterprises and is actively expanding its ecological restoration technology applications [9] - Ongoing efforts to develop technologies in zero-carbon buildings and wastewater treatment to enhance its service offerings [9]

| | | 青岛冠中生态股份有限公司 关于参加 2025 年青岛辖区上市公司投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，青岛冠中生态股份有限公司（以下简称 "公司"）将参加由青岛证监局指导，青岛市上市公司协会与深圳市全景网络有 限公司联合举办的"2025 年青岛辖区上市公司投资者网上集体接待日活动"，现 将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）或关注微信公众号（名称：全景财经）或下载全景路演 APP,参与本次互动交流。活动时间为 2025 年 5 月 12 日（周一）15:00-17:00。 届时公司总经理许剑平女士、董事会秘书兼副总经理张方杰先生、财务总监徐宏 先生将以在线交流形式就公司治理、发展战略、经营状况、融资计划和可持续发 展等投资者关注的问题与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 特此公告。 青岛冠中生态股份有限公司董事会 2025 年 5 月 6 日 ...

Core Insights - Qingdao Guanzhong Ecological Co., Ltd. reported significant declines in multiple financial metrics for the year 2024, including a net profit drop of 307.48% and a cash flow from operating activities decrease of 102.99% [1] Financial Performance Summary - Revenue decreased by 61.46%, from 377,024,042.79 yuan in 2023 to 145,288,145.05 yuan in 2024, attributed to reduced government project budgets and delays in project implementation [2] - Revenue breakdown by business segment shows: - Vegetation restoration: 21,274,079.59 yuan, down 69.79% - Landscape greening: 29,690,159.90 yuan, down 82.04% - Water environment governance: 3,211,490.07 yuan, down 40.68% - Comprehensive governance: 67,934,133.68 yuan, down 43.00% - Land remediation: 9,666,952.78 yuan, up 3,824.80% [3] - Net profit turned negative at -70,900,209.07 yuan compared to a profit of 34,172,065.74 yuan in 2023, reflecting significant impacts from project cost reductions and increased financial expenses [4] - The net profit excluding non-recurring items was -78,183,216.75 yuan, a decline of 352.17%, indicating a severe drop in core business profitability [5] - Basic earnings per share fell to -0.5064 yuan from 0.2441 yuan, a decrease of 307.46% [6] Expense Analysis - Sales expenses slightly decreased by 9.56% to 5,976,781.30 yuan, likely due to cost control measures [7] - Management expenses decreased by 2.24% to 31,884,899.34 yuan, showing some success in cost management [8] - Financial expenses surged by 78.48% to 20,684,637.42 yuan, primarily due to increased interest expenses on convertible bonds [9] - R&D expenses increased by 1.26% to 17,618,604.79 yuan, with the proportion of R&D expenses to revenue rising from 4.61% to 12.13% [10] Cash Flow Analysis - Net cash flow from operating activities significantly decreased by 102.99% to -57,969,197.09 yuan, indicating weakened cash collection capabilities [11] - Net cash flow from investing activities improved to 88,281,214.89 yuan from -277,444,132.55 yuan in 2023, mainly due to the maturity of financial products [12] - Net cash flow from financing activities dropped by 128.21% to -109,233,442.43 yuan, reflecting challenges in fundraising [13]

Financial Performance - The company reported a basic earnings per share of -0.5064 yuan for 2024, a decrease of 307.46% compared to 0.2441 yuan in 2023 [1] - The net profit for 2024 was -0.71 billion yuan, representing a decline of 308.82% from 0.34 billion yuan in 2023 [1] - Operating revenue fell to 1.45 billion yuan in 2024, down 61.54% from 3.77 billion yuan in 2023 [1] - The return on equity for 2024 was -8.67%, a significant drop of 316.75% from 4.00% in 2023 [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 73.2491 million shares, accounting for 56.01% of the circulating shares, with a decrease of 1.1593 million shares compared to the previous period [1] - Qingdao Guanzhong Investment Group Co., Ltd. remains the largest shareholder with 41.7152 million shares, representing 31.89% of the total share capital [2] - New entrant among the top shareholders is Deng Fusheng, holding 0.6228 million shares, which accounts for 0.48% of the total share capital [2] Dividend Policy - The company has decided not to distribute dividends or increase capital through share distribution [1]