Core Viewpoint - Qiaoyin City Management Co., Ltd. successfully renewed the integrated sanitation service project in Hohhot's Xincheng District, with a contract amount of approximately 73.8 million yuan per year, reinforcing its core service position in the region and continuing its focus on the northern market [1][9]. Contract Details - The contract amount is 73,799,876 yuan per year, with a service duration of 12 months, which can be extended up to 3 years based on performance evaluations [3][11]. - The service area covers approximately 7.68 million square meters, excluding five specific roads in the district, and includes the management of over 50 garbage transfer stations to ensure daily waste clearance [3][10]. Historical Context - Since the marketization of sanitation services in Xincheng District began in 2021, Qiaoyin has been the sole core service provider, securing a long-term contract worth 94.8 million yuan per year, with a total contract value of approximately 1.422 billion yuan [5][13]. - The company has consistently demonstrated reliability, having secured various contracts over the years, including a transitional contract in 2024 and a renewal in 2025, showcasing the trust from the project procurement party [5][13]. Strategic Advantages - Qiaoyin's success in the Xincheng District is attributed to four key advantages: its leading position in the sanitation industry, the establishment of a specialized smart sanitation system suitable for northern climates, the strategic partnership with local state-owned enterprises, and a focused expansion strategy in northern regions [6][14]. - The company has effectively responded to local procurement needs and has positioned the Xincheng project as a strategic hub for expanding its business into other cities in Inner Mongolia [6][14]. Industry Trends - The recent contract reflects several emerging trends in the sanitation market, including a shift from comprehensive services to more specialized offerings, the importance of local partnerships, and the increasing market share of quality leading enterprises, indicating a rise in industry concentration [6][15].

Group 1 - ZTE Corporation plans to invest 200 million RMB to subscribe to the Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund, focusing on areas supported by national policies such as new generation information technology and biotechnology [1] - Huayi Jewelry's subsidiary has reported overdue loans totaling 200 million RMB due to tight liquidity, with a cumulative overdue principal of 254 million RMB [2] - Guangzhou Baiyunshan Pharmaceutical's subsidiary has received approval for the consistency evaluation of Alfacalcidol soft capsules, which are used to treat calcium metabolism disorders [3] Group 2 - Kunming Pharmaceutical Group reported a 21.72% decline in revenue to 6.577 billion RMB and a 46% drop in net profit to 350 million RMB for 2025 [4] - Jiantou Energy's application for a specific stock issuance has been approved by the Shenzhen Stock Exchange [5] - Jinchuan Titanium Industry's subsidiary has temporarily suspended its sulfuric acid production due to reduced demand [6] Group 3 - Kelun Pharmaceutical's subsidiary has received approval for a new indication for its antibody-drug conjugate, which is used to treat advanced hormone receptor-positive breast cancer [7] - Fawer Co., Ltd. has completed the relocation of its Chongqing Yuantai Shock Absorber Company and commenced production [8] - Jiuzhoutong's subsidiary has received acceptance for the listing application of Betahistine Hydrochloride tablets [9] Group 4 - Zhongguancun plans to build a traditional Chinese medicine and raw material drug production base in Jiamusi City, Heilongjiang Province [11] - China Wuyi announced that part of its land in Kenya has been requisitioned by the government, with compensation of approximately 6.25 million RMB [12] - Times Electric reported a 15.46% increase in revenue to 28.761 billion RMB and a 10.88% increase in net profit to 4.105 billion RMB for 2025 [13] Group 5 - Top Cloud Agriculture's shareholder has received regulatory measures from the Zhejiang Securities Regulatory Bureau for failing to timely disclose shareholding changes [14] - Xinwanda's subsidiary has reached a settlement in a lawsuit involving over 2.314 billion RMB, with an estimated impact of 500 to 800 million RMB on net profit for 2025 [15] - Dongrui Co., Ltd. reported a 25.19% increase in pig sales revenue in January, totaling 214 million RMB [16] Group 6 - Tianjin Tianshi reported a 3.08% decline in revenue to 8.236 billion RMB, while net profit increased by 15.68% to 1.105 billion RMB for 2025 [17] - Wantong Expressway plans to invest approximately 5.42 billion RMB in the renovation and expansion of the Lianhuo Expressway [18] - Qiaoyin Co., Ltd. has pre-qualified for a sanitation integration service project worth approximately 73.8 million RMB [20] Group 7 - Jindi Co., Ltd. plans to acquire 100% equity of Yuni Precision for 116 million RMB, focusing on precision stamping products [21] - Heng Rui Medicine's HRS-4642 injection has been included in the list of breakthrough therapeutic varieties [22] - Tongde Chemical has had some assets frozen due to a financing lease dispute [23] Group 8 - Zhongli Co., Ltd. is establishing an industrial fund with a total commitment of approximately 408.76 million RMB, focusing on new materials and artificial intelligence [24] - Tianbang Food reported a 9.93% increase in pig sales revenue in January, totaling 674 million RMB [25] - New Hope reported a 10.03% decrease in pig sales revenue in January, totaling 1.628 billion RMB [26] Group 9 - Tainkang's subsidiary has received a drug registration certificate for Minoxidil topical solution [27] - Lihua Co., Ltd. reported a 9.8% increase in chicken sales revenue in January, totaling 1.289 billion RMB [28] - Guojitong General reported a 45.71% increase in net profit to 58.52 million RMB for 2025 [29] Group 10 - Zhixin Co., Ltd. plans to invest up to 1.1 billion RMB in an automotive stamping and welding parts project [30] - Chuangyuan Technology's subsidiary has pre-qualified for a National Grid project worth approximately 94.77 million RMB [31] - Lisheng Pharmaceutical's adenine phosphate raw material has passed the listing application [32] Group 11 - Tongguang Cable's subsidiary has pre-qualified for a National Grid project worth approximately 108 million RMB [33] - Zhenghong Technology reported a 7.74% increase in pig sales revenue in January, totaling 14.35 million RMB [34] - Pengding Holdings reported a 0.07% decrease in consolidated revenue in January, totaling 2.701 billion RMB [35] Group 12 - Hongri Pharmaceutical has received approval for clinical trials of its injectable drug for acute pancreatitis [36][37] - Xinhua Medical has decided to terminate the acquisition of a 36.19% stake in Wuhan Zhongzhi Biotechnology [38] - Tianyu Bio reported an 11.23% decrease in pig sales revenue in January, totaling 54.29 million RMB [39]

Core Viewpoint - The company, Qiaoyin Co., Ltd. (002973), has announced a preliminary bid win for an integrated sanitation service project in Hohhot, Inner Mongolia, with an annual contract value of 73.7999 million yuan [1] Group 1: Project Details - The project has a service duration of 12 months, with the possibility of extending the contract for up to 3 years based on performance evaluations [1] - The scope of services includes cleaning and maintenance for approximately 7.68 million square meters and the operation management of over 50 garbage transfer stations [1] Group 2: Financial Impact - The project is part of the company's main business and is expected to have a positive impact on its performance [1] - The company has not yet received the "Notice of Winning Bid," indicating a level of uncertainty regarding the contract [1]

侨银城市管理股份有限公司 关于预中标约 7380 万元内蒙古自治区呼和浩特市 新城区城区环卫一体化服务项目的提示性公告 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。 近日，侨银城市管理股份有限公司（以下简称"公司"）预中标内蒙古自 治区呼和浩特市新城区城区环卫一体化服务项目，具体情况公告如下： 一、项目的基本情况 1．项目名称：新城区城区环卫一体化服务项目； 2．采购单位：呼和浩特市新城区城市管理综合执法局； | 证券代码：002973 | 证券简称：侨银股份 | 公告编号：2026-021 | | --- | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | | 7．供应商名称：侨银城市管理股份有限公司（联合体成员：呼和浩特市畅 洁环境服务有限责任公司）。 二、项目公示的内容 详见内蒙古自治区政府采购网（https://www.ccgp-neimenggu.gov.cn/）的 《呼和浩特市新城区城市管理综合执法局新城区城区环卫一体化服务项目中标 （成交）结果公告》。 三、对公司业绩的影响 上述公示的项目属于公司的主营业务，将对 ...

Group 1 - The company, through its wholly-owned subsidiary Meinian Chuangxin, has acquired a 16.6667% limited partnership interest in the Guangzhou Qiaoxin Shengjing No. 1 Venture Capital Partnership from Guangzhou Huacheng Shucai Information Technology Co., Ltd. for a subscribed capital of RMB 10 million, with no actual payment made yet [1] - The total subscribed capital for the partnership amounts to RMB 60 million, with Meinian Chuangxin contributing RMB 10 million, representing 16.6667% of the total [1] - The partnership agreement was signed with several other investment firms, including Guangzhou Shengjing Venture Capital Co., Ltd. and Sichuan Puxin Industrial Financial Investment Co., Ltd. [1] Group 2 - The fund manager, Shengjing Venture Capital, has completed the registration process with the Asset Management Association of China and obtained the Private Fund Registration Certificate for the Guangzhou Qiaoxin Shengjing No. 1 Venture Capital Partnership [2] - The fund's registration code is SBMR23, and it was officially registered on February 2, 2026 [2] - The fund has completed the business change registration as of the announcement date, and the company will comply with relevant regulations during the investment process [2]

Group 1 - Company Qiaoyin Co., Ltd. announced on February 3 that it received a notice from Zeyuan Private Equity regarding the expiration of a shareholder reduction plan, which ended on February 2, 2026 [1] - Zeyuan Private Equity has reduced its holdings in the company by approximately 16,800 shares [1]

| 证券代码：002973 | 证券简称：侨银股份 | 公告编号：2026-018 | | --- | --- | --- | | | 债券简称：侨银转债 | | | 债券代码：128138 | | | 侨银城市管理股份有限公司 关于持股 5%以上股东（郭倍华） 减持计划时间届满的公告 公司控股股东、实际控制人之一郭倍华保证向本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。 一、股东减持情况 1．股份来源：公司首次公开发行前发行的股份 2．减持价格区间：12.46 元/股~15.52 元/股 注 1：本公告披露的股权比例精确到小数点后两位，股权比例计算均按四舍五入原则 列示，如存在误差均为四舍五入导致，下同。 注 2：表中股本计算依据为公司总股本 408,665,673 股，下同。 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。 侨银城市管理股份有限公司（以下简称"公司"）于 2025 年 10 月 10 日披 露了《关于公司大股东减持股份预披露的公告》（公告编号：2025-126），控 股股东、实际控制人之一郭倍华女士持有公司股份 123,496,474 股（ ...

侨银城市管理股份有限公司 关于股东（泽源私募）减持计划时间届满的公告 公司股东深圳泽源私募证券基金管理有限公司－泽源利旺田 42 号私募证券 投资基金保证向本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。 侨银城市管理股份有限公司（以下简称"公司"）于 2025 年 10 月 10 日披 露了《关于公司大股东减持股份预披露的公告》（公告编号：2025-126），股 东深圳泽源私募证券基金管理有限公司－泽源利旺田 42 号私募证券投资基金 （以下简称"泽源私募"），持有公司股份 20,450,000 股（占公司总股本的 5.00%）。泽源私募计划在减持计划公告披露之日起 15 个交易日后的三个月内， 即 2025 年 11 月 3 日起至 2026 年 2 月 2 日止，以大宗交易方式减持公司股份不 超过 8,173,313 股（不超过公司目前总股本的 2%）和以集中竞价交易方式减持 公司股份不超过 4,086,656 股（不超过公司目前总股本的 1%）。 公司于 2025 年 11 月 4 日披露了《关于持股 5% ...

| 证券代码：002973 | 证券简称：侨银股份 | 公告编号：2026-020 | | --- | --- | --- | | 债券代码：128138 | 债券简称：侨银转债 | | 侨银城市管理股份有限公司 关于公司与专业投资机构共同投资的进展公告 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。 5.备案日期：2026 年 02 月 02 日 侨银城市管理股份有限公司（以下简称"公司"）于 2025 年 12 月 25 日与 广州华诚数财信息科技有限公司（以下简称"华诚数财"）签署了《广州侨鑫 胜璟一号创业投资合伙企业（有限合伙）份额转让协议书》，受让华诚数财所 持有的广州侨鑫胜璟一号创业投资合伙企业（有限合伙）（以下简称"胜璟一 号基金"）16.6667%的有限合伙份额，对应的认缴出资额为人民币 1,000 万元， 实缴出资额为人民币 0 元，在保证主营业务发展的前提下，利用专业投资资源， 拓宽公司在科技制造领域的布局，同时探索协同发展新路径，实现公司战略升 级。 同日，公司与广州胜璟创业投资有限公司、华诚数财、佛山市三水区金融 投资控股有限公司、四川 ...

Investment Recommendations - Key companies recommended for investment include Longjing Environmental Protection, High Energy Environment, Sains, Hanlan Environment, Green Power Environmental Protection, and others [1] Companies to Watch - Companies suggested for attention include Dayu Water Saving, Lian Tai Environmental Protection, Wang Neng Environment, and others [2] Company Tracking - Jingjin Equipment is a leader in filter press with a market share of over 40%, and its new energy revenue is expected to grow as the lithium battery market recovers [3] - Longjing Environmental Protection has begun delivering pure electric mining trucks, with a projected domestic sales volume of 2,500 units in 2024 [3] - Sains is benefiting from rising rhenium prices driven by aerospace demand, with a rhenium price of 39.26 million yuan/ton expected by January 2026 [3] - High Energy Environment's performance exceeded expectations, driven by improvements in resource recycling profitability and strategic expansion into upstream mining [3] Event Tracking - The Shanghai Old Port Eco-Environmental Base has launched green methanol, marking a significant advancement in carbon utilization technology [4] Strategic Outlook for 2026 - The strategy emphasizes value and growth resonance, focusing on marketization and efficiency improvements in the solid waste sector [5] - Key recommendations include Hanlan Environment, Green Power, and others for their potential in dividend growth and operational efficiency [5] Industry Tracking - The sanitation equipment sector is seeing significant growth, with a 150% increase in unmanned sanitation project bids and a 71% increase in sales of new energy sanitation vehicles [7] - The market for biofuels remains stable, with prices for kitchen waste oil increasing by 100 yuan/ton [8] - Lithium battery recycling is experiencing price fluctuations, with carbonated lithium prices down by 6.2% as of January 30, 2026 [8]