Group 1 - The company held its fourth board meeting on July 10, 2025, with all five directors present, including one participating via telecommunication [1] - The board approved the proposal to transfer all shares of several subsidiaries to its wholly-owned subsidiary, Beijing Baitong Thermal Power Co., Ltd., with a total book value of 565.5656 million yuan as of March 31, 2025 [1][2] - The proposal to convene the second extraordinary general meeting of shareholders in 2025 was also approved, scheduled for July 28, 2025 [2] Group 2 - The board meeting adhered to relevant regulations, including the Company Law and Securities Law of the People's Republic of China [1] - The voting results for the share transfer proposal were unanimous, with 5 votes in favor and no opposition or abstentions [2] - The details of the proposals were published on the company's official information disclosure platform [2]

Group 1 - The company has approved a cash dividend distribution plan for the year 2024, amounting to 26,891,280 yuan, with no stock dividends or capital increases from reserves [1] - The cash distribution will be 1.02 yuan per 10 shares for all shareholders, based on a total share count of 263,640,000 shares after excluding repurchased shares [1][2] - The record date for the dividend distribution is set for June 25, 2025, and the ex-dividend date is June 26, 2025 [2] Group 2 - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodians [2] - The dividend tax treatment varies for different types of investors, with specific rates for QFII, RQFII, and individual investors holding pre-IPO restricted shares [1][2] - The company has outlined that any adjustments to the distribution ratio will be made if there are changes in the share capital before the record date [1]

Fundraising Plan - The company plans to raise a total of up to 385.135 million yuan through a private placement of A-shares, which will be used to supplement working capital and repay loans after deducting issuance costs [1][2] Necessity and Feasibility of Fundraising - The necessity of the fundraising is highlighted by the company's core business of providing centralized heating for industrial parks, which has seen good growth due to increasing demand and economic development in recent years [1][2] - The company has relied on external financing, primarily bank loans, to meet its funding needs, with short-term loan balances increasing from 160.3365 million yuan to 302.6775 million yuan over the past three years [2] - The fundraising will enhance the company's financial strength, increase total assets and net assets, reduce the debt-to-asset ratio, and improve the capital structure [2][5] Impact on Company Control and Market Confidence - The entire subscription of the new shares will be made by the controlling shareholder, Nanchang Baitong Environmental Technology Co., Ltd., which will increase the control ratio of the actual controller, Zhang Chunlong, thereby stabilizing company control [3] - This move reflects the controller's confidence in the company's future, which is expected to boost market confidence and recognition of the company's value [3] Management of Raised Funds - The company has established a fundraising management system in compliance with regulatory requirements, ensuring proper storage, usage, and supervision of the raised funds [4] Impact on Financial Status - The issuance will lead to an increase in total assets and net assets, improve liquidity ratios, and enhance short-term debt repayment capacity [5] - Although there may be a temporary dilution of net asset return and earnings per share due to the increase in total shares, the long-term operational capacity is expected to strengthen with the effective use of raised funds [5] Regulatory Compliance - The fundraising does not involve any project approval matters such as environmental impact assessments, thus avoiding the need for additional regulatory approvals [5] Conclusion on Feasibility - The fundraising plan is deemed necessary and feasible, aligning with relevant laws and regulations, and is expected to meet the company's funding needs while enhancing overall strength and profitability [5]

Core Viewpoint - The Agricultural Development Bank of China (ADBC) in Wangkui County, Heilongjiang, has successfully provided a 10 million yuan (approximately 1.4 million USD) working capital loan to a local heating company, alleviating the company's financial pressure and supporting winter heating for residents and businesses [1] Group 1: Loan Impact - The loan will be used specifically for purchasing environmentally friendly coal, upgrading smart heating systems, and paying labor costs, ensuring a reserve of 20,000 tons of coal [1] - The heating company is responsible for winter heating for 110,000 residents and various enterprises in the county, facing cash flow shortages due to fluctuating coal prices and increased maintenance costs [1] Group 2: Bank's Role and Strategy - ADBC's Wangkui branch has disbursed a total of 123 million yuan (approximately 17.3 million USD) in agricultural loans this year, demonstrating its commitment to supporting small and micro enterprises [1] - The bank has implemented a tailored financing plan and expedited approval processes, completing the loan disbursement in just 10 working days to ensure timely funding for the heating season [1] Group 3: Broader Economic Impact - The loan aligns with national policies aimed at enhancing financial services for small and micro enterprises, creating a multiplier effect by supporting not only the heating company but also related industries such as equipment maintenance [1] - The bank plans to continue innovating financial products and services to stimulate local economic vitality, focusing on rural revitalization and green low-carbon initiatives [1]

Financial Performance - The company's basic earnings per share for 2024 is 0.2500 yuan, a decrease of 3.85% compared to 2023's 0.2600 yuan [1] - The net profit for 2024 is 0.67 billion yuan, representing a 21.82% increase from 0.55 billion yuan in 2023 [1] - The return on equity (ROE) decreased to 5.72% in 2024 from 7.27% in 2023, a decline of 21.32% [1] - The total revenue for 2024 is 10.7 billion yuan, down 1.38% from 10.85 billion yuan in 2023 [1] - The net assets per share increased to 4.48 yuan in 2024, up 4.67% from 4.28 yuan in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 82.22 million shares, accounting for 40.55% of the circulating shares, a decrease of 4.529 million shares from the previous period [1] - Zhao Yibo remains the largest shareholder with 41.07 million shares, representing 20.25% of the total share capital [2] - New entrants among the top shareholders include Zhang Wensheng, with 1.75 million shares (0.87%), and Wang Yingjun, with 1.11 million shares (0.55%) [2] Dividend Distribution - The company has announced a dividend distribution of 1.02 yuan per share (including tax) [3]