Core Viewpoint - The document outlines the information disclosure management system of Wuxi Delinhai Environmental Protection Technology Co., Ltd, emphasizing the importance of timely, accurate, and complete information disclosure to protect the rights of investors and stakeholders [1][2]. Group 1: General Principles - The purpose of the information disclosure management system is to regulate the disclosure behavior of the company and its information disclosure obligors, ensuring compliance with relevant laws and regulations [1]. - Information disclosure is defined as the act of publicly announcing information that may significantly impact the trading price of the company's stocks and derivatives within a specified timeframe [1][2]. - Information disclosure obligors include the company, its directors, senior management, core technical personnel, shareholders, actual controllers, and other relevant parties [1]. Group 2: Disclosure Obligations - Information disclosure obligors must fulfill their disclosure obligations in a timely manner, ensuring that the information is true, accurate, complete, and clear [2]. - Insider information must not be disclosed or leaked before it is legally disclosed, and no one is allowed to use such information for insider trading [2]. - All investors must have equal access to significant information, and private disclosures to specific individuals are prohibited [2][3]. Group 3: Disclosure Content and Standards - The company must disclose periodic reports, including annual, semi-annual, and quarterly reports, within specified timeframes [4][5]. - The content of periodic reports must be approved by the board of directors and audited by a qualified accounting firm [5][6]. - The company must issue performance forecasts if it anticipates significant changes in operating performance [6][8]. Group 4: Management of Disclosure Affairs - The board of directors is responsible for overseeing the information disclosure work, with the board secretary acting as the direct responsible person [19][20]. - The securities department is the permanent institution responsible for handling information disclosure affairs [20][21]. - The company must establish effective mechanisms to ensure that the board secretary is promptly informed of significant information [20][21]. Group 5: Confidentiality Measures - Information insiders are required to maintain confidentiality regarding undisclosed information and are prohibited from trading based on such information [23][24]. - The company must implement confidentiality agreements with information insiders to prevent unauthorized disclosure [23][24]. - In the event of a leak or abnormal trading, the company must take immediate measures to disclose relevant information [24][25]. Group 6: Accountability and Penalties - Directors and senior management are responsible for the truthfulness, accuracy, completeness, and timeliness of information disclosures [26][27]. - Serious violations of disclosure obligations may result in penalties, including dismissal and legal consequences [27]. - The audit committee is tasked with supervising the implementation of the information disclosure management system [27].

Group 1 - The company held its 26th meeting of the third board of directors on July 18, 2025, with 7 directors present, complying with relevant laws and regulations [1][2] - The board approved the proposal for the election of the fourth board of directors, nominating four candidates for non-independent directors, with a term of three years starting from the shareholders' meeting approval [1][2] - The board also approved the nomination of three independent director candidates, including a professional accountant, which will be submitted for shareholder approval [2][3] Group 2 - The company proposed a 2025 restricted stock incentive plan to attract and retain talent, aligning the interests of shareholders, the company, and core team members [3][4] - The board approved the management measures for the implementation of the 2025 restricted stock incentive plan, ensuring alignment with the company's strategic goals [4][5] - The board requested authorization from the shareholders' meeting to handle various matters related to the restricted stock incentive plan [5][6] Group 3 - The company decided to cancel the supervisory board and amend its articles of association, transferring the supervisory responsibilities to the audit committee of the board [8][9] - The board proposed to hold the first extraordinary shareholders' meeting of 2025 on August 6, 2025, using a combination of on-site and online voting [9][11]

Core Points - Jiangsu Jingyuan Environmental Protection Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to stock prices exceeding 130% of the conversion price for a specified period [1][5] - The company decided not to exercise the early redemption rights for the convertible bonds during the board meeting held on July 18, 2025, citing confidence in future development and market conditions [1][5] Summary by Sections Conditional Redemption Trigger - From June 28, 2025, to July 14, 2025, the stock price closed above 130% of the conversion price (12.727 CNY/share) for 11 trading days [1][5] - From July 15, 2025, to July 18, 2025, the stock price closed above 130% of the conversion price (8.983 CNY/share) for 4 trading days [1][5] - The stock met the requirement of having at least 15 trading days out of 30 with closing prices above the specified threshold [1][5] Convertible Bond Issuance Overview - The company issued 3.325 million convertible bonds on August 5, 2022, with a face value of 33.25 million CNY, and they began trading on August 25, 2022 [2] - The initial conversion price was set at 13.93 CNY/share, effective from February 13, 2023 [2] Conversion Price Adjustments - The conversion price was adjusted from 13.90 CNY/share to 9.82 CNY/share on June 9, 2023, due to the company's annual equity distribution [3] - Following the completion of the second vesting period of the stock incentive plan on February 21, 2024, the conversion price was further adjusted to 9.79 CNY/share [4] Decision on Early Redemption - The board of directors resolved not to redeem the convertible bonds early based on the company's confidence in its future prospects and current market conditions [5] - The company will not propose a conditional redemption plan if the bonds trigger the redemption clause again within the next three months [2][5] Shareholder Transactions - There have been no transactions involving the convertible bonds by major shareholders or executives in the six months leading up to the redemption condition [6]

Core Points - The announcement details a change in the equity stake of a major shareholder, Zhang Jingsheng, whose holding decreased from 5.51% to 4.98% due to passive dilution from the conversion of convertible bonds [1][2] - The total share capital of the company increased from 152,364,400 shares to 236,037,460 shares as a result of the conversion and subsequent equity distribution [1][4] - Zhang Jingsheng's shareholding increased in absolute terms from 8,400,000 shares to 11,760,000 shares, but the percentage ownership remained unchanged at 5.06% until the total share capital increase [1][3] Summary of Changes - Before the equity change, Zhang Jingsheng held 840,000 shares, representing 5.51% of the total shares [3] - After the conversion of bonds, his holding was diluted to 4.98% with a total of 1,176,000 shares [2][3] - The company completed its 2024 annual equity distribution on July 15, 2025, which further increased the total share capital [1][4]

Summary of Key Points Core Viewpoint - The company has decided not to exercise the early redemption rights of the "Jingyuan Convertible Bonds" based on confidence in its future development and current market conditions, as approved by the board of directors [6][7]. Group 1: Convertible Bond Issuance and Details - The company issued 3.325 million convertible bonds on August 5, 2022, with a term of 6 years and a face value of 100 yuan each, approved by the China Securities Regulatory Commission [1]. - The bonds are listed on the Shanghai Stock Exchange under the name "Jingyuan Convertible Bonds" with the code "118016" [2]. - The initial conversion price was set at 13.93 yuan per share, effective from February 13, 2023 [2]. Group 2: Conversion Price Adjustments - The conversion price was adjusted from 13.90 yuan to 9.82 yuan per share on June 9, 2023, due to the completion of the first vesting period of the 2021 restricted stock incentive plan [2]. - Following further adjustments, the conversion price will be set at 9.79 yuan per share starting February 21, 2024, after the completion of additional vesting procedures [3]. Group 3: Redemption Terms and Conditions - The redemption terms state that the company can redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period or if the remaining unconverted bonds are less than 30 million yuan [5]. - As of July 18, 2025, the stock price met the criteria for redemption, with 11 trading days showing a closing price above 12.727 yuan per share [5]. Group 4: Decision Against Early Redemption - The board of directors held a meeting on July 18, 2025, and decided not to exercise the early redemption rights based on the company's confidence in its future prospects and to protect investor interests [6]. - There are no plans for major shareholders or executives to sell "Jingyuan Convertible Bonds" in the six months leading up to the redemption eligibility [6]. Group 5: Compliance and Verification - The underwriting institution confirmed that the decision not to redeem the bonds early complies with relevant regulations and the company's disclosure obligations [6][7].

Core Viewpoint - The announcement details a change in equity ownership by a major shareholder, ZHU QING, who has reduced his stake in the company, 安徽艾可蓝环保股份有限公司 (Aikolan Environmental Protection Co., Ltd.), triggering a notification due to the change crossing a 1% threshold [1]. Group 1: Shareholder Equity Change - ZHU QING reduced his holdings by 500,000 shares through a block trade on July 17, 2025, which represents 0.64% of the total share capital after excluding shares in the repurchase account [1]. - The total reduction from June 29, 2021, to July 17, 2025, amounts to 1.35%, with 561,600 shares (0.71%) sold between June 29 and July 27, 2021, and the recent 500,000 shares [1]. - The shareholder's actions are consistent with previously disclosed reduction plans and do not violate any legal or regulatory commitments [2]. Group 2: Shareholding Structure - As of the latest announcement, ZHU QING holds a total of 11,629,524 shares, which is 14.77% of the company, down from 10,567,924 shares (13.42%) after the recent transactions [2]. - The breakdown of shares includes 2,907,381 unrestricted shares (3.69%) and 8,722,143 restricted shares (11.08%) [2]. - The company confirms that the reduction aligns with the previously disclosed intentions and plans, and no legal violations have occurred in the process [2].

Group 1 - The core opinion of the article is that the legal advisor confirms the legality of the convening and holding of the second extraordinary general meeting of Beijing Shouchuang Ecological Environmental Group Co., Ltd. in 2025 [1][2][7] - The meeting was announced in major financial newspapers and on the Shanghai Stock Exchange website, detailing the time, location, convenor, voting methods, and agenda [2][3] - The meeting utilized a combination of on-site and online voting, with specific voting times outlined for both methods [3][4] Group 2 - A total of 2 shareholders and their proxies attended the meeting on-site, representing 3,404,159,043 shares, which is 46.3745% of the total shares [4][5] - Additionally, 631 shareholders participated through online voting, representing 69,213,937 shares, or 0.9429% of the total shares [4][5] - The convenor of the meeting was the company's board of directors, which is in compliance with relevant laws and regulations [4][6] Group 3 - The meeting's agenda was consistent with the previously announced content, and no new proposals were introduced by shareholders [6][7] - The voting process was conducted according to legal and regulatory requirements, with results announced immediately after the voting concluded [6][7] - The legal advisor concluded that the meeting's procedures, participant qualifications, and voting results were all valid and in accordance with the law [7]

General Principles - The purpose of the document is to standardize the responsibilities of the Secretary of the Board of Directors of Beijing Shouchao Ecological Environmental Protection Group Co., Ltd. based on relevant laws and regulations [1][2] - The Secretary acts as a designated liaison between the company and the Shanghai Stock Exchange, responsible for fulfilling legal obligations and enjoying corresponding rights [1][2] Qualifications - The Secretary must possess good personal qualities, professional ethics, and necessary knowledge in finance, law, and management [2] - Individuals with certain disqualifying conditions, such as recent administrative penalties or public reprimands, are prohibited from serving as Secretary [2] Main Responsibilities - The Secretary assists in strengthening corporate governance and organizing board meetings, ensuring compliance with decision-making procedures [3][4] - Responsibilities include managing information disclosure, maintaining communication with regulatory bodies, and ensuring compliance with disclosure obligations [3][4] Investor Relations - The Secretary is responsible for managing investor relations, including communication, handling inquiries, and maintaining investor databases [4] - The role includes summarizing market dynamics and investor feedback for the board [4] Stock Management - The Secretary oversees stock and derivative management, including maintaining shareholder records and ensuring compliance with trading regulations [5] Capital Market Strategy - The Secretary assists in formulating capital market development strategies and supports refinancing or merger and acquisition activities [6] Training and Compliance - The Secretary is responsible for organizing training for board members and senior management on relevant laws and regulations [6][7] - The Secretary must report any violations of laws or regulations by board members to the relevant authorities [7] Appointment and Dismissal - The board must announce the appointment of the Secretary and provide necessary documentation to the Shanghai Stock Exchange [8][9] - The Secretary can be dismissed for significant errors or violations that cause major losses to the company [9] Performance Evaluation - The Secretary is required to participate in regular training and submit performance reports for evaluation [10] - Compensation and evaluation of the Secretary are determined by the board's remuneration and assessment committee [10]

Core Viewpoint - The participation experience of small shareholders in annual general meetings (AGMs) is increasingly problematic, with many facing barriers to entry and a lack of meaningful engagement during the meetings [1][2][3]. Group 1: Barriers to Participation - Small shareholders often encounter difficulties in registering for AGMs, with issues such as non-functional email addresses and lack of response from company representatives [2]. - Some companies have been reported to deny entry to shareholders based on unregistered attendance, which contradicts regulations that state all registered shareholders have the right to attend [2][3]. - The reluctance of small shareholders to participate is exacerbated by the additional obstacles set by companies, further diminishing their involvement in corporate governance [3]. Group 2: Meeting Procedures and Engagement - Many AGMs are criticized for being poorly organized, with key executives absent and minimal opportunities for shareholder interaction [4][5]. - The recent regulatory changes regarding the attendance of directors and executives at AGMs have not led to improved engagement, as many companies still treat these meetings as mere formalities [4][5]. - Some companies have been found to limit or completely avoid interactive sessions, opting instead for private meetings with shareholders, which undermines the purpose of the AGMs [6][10]. Group 3: Disclosure of Voting Results - There is a notable trend of companies failing to disclose voting results during the AGMs, instead directing shareholders to check announcements later, which violates existing regulations [7][8]. - The practice of not allowing shareholder representatives to participate in the counting and monitoring of votes raises concerns about the transparency and credibility of the voting process [8][9]. Group 4: Recommendations for Improvement - Companies are urged to eliminate barriers to participation and enhance the AGM process to ensure meaningful engagement with all shareholders [9][10]. - Regulatory bodies should enforce compliance with participation rules and address companies that consistently fail to engage small shareholders [9]. - Small shareholders are encouraged to actively exercise their rights and participate in AGMs to ensure their voices are heard [10].

Core Viewpoint - The company plans to repurchase its shares to stabilize stock prices and reduce registered capital, with a total repurchase amount between RMB 20 million and RMB 40 million [1][4][5]. Summary by Sections Repurchase Plan - Total repurchase amount: Not less than RMB 20 million and not more than RMB 40 million [1][4]. - Source of funds: Company’s own funds and special loans for stock repurchase [1][4]. - Purpose of repurchase: To stabilize stock prices and reduce registered capital [1][5]. - Maximum repurchase price: Not exceeding RMB 19.09 per share [1][4]. - Method of repurchase: Through centralized bidding on the Shanghai Stock Exchange [1][5]. - Duration of repurchase: Up to 6 months from the approval date by the shareholders' meeting [1][4]. Shareholder and Management Plans - No plans for share reduction by directors, supervisors, senior management, actual controllers, or shareholders holding more than 5% in the next 3 to 6 months [2][10]. Approval and Implementation - The board approved the repurchase plan on June 26, 2025, with unanimous support [3][4]. - The shareholders' meeting approved the plan on July 14, 2025 [4][5]. Financial Impact - As of March 31, 2025, the company’s total assets were approximately RMB 3.19 billion, with a debt ratio of 16.23% [9][10]. - The maximum repurchase amount represents 1.26% of total assets and 1.49% of net assets [9][10]. Share Structure Changes - The repurchase is expected to reduce the total share capital by approximately 1.53% at the upper limit and 0.76% at the lower limit [5][7]. Compliance and Disclosure - The company will comply with all relevant laws and regulations regarding the repurchase and will notify creditors accordingly [11][12].