公司代码：688096 公司简称：京源环保 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到http://www.sse.com.cn网站仔细阅读半年度报告全文。 1.2重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，有关内容敬请查阅本报 告第三节"管理层讨论与分析"之"四、风险因素"相关内容。 1.3本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.4董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 1.5是否存在公司治理特殊安排等重要事项 □适用 √不适用 第二节 公司基本情况 2.1公司简介 公司股票简况 ■ 公司存托凭证简况 □适用 √不适用 联系人和联系方式 ■ 2.2主要财务数据 单位：元 币种：人民币 ■ 2.3前10名股东持股情况表 单位: 股 ■ 2.4前十名境内存托凭证持有人情况表 2.5截至报告期末表决权数量前十名股东情况表 □适用 √不适用 2.6截 ...

Core Viewpoint - The article discusses the recent issuance of new stocks on the Beijing Stock Exchange, highlighting the significant subscription funds amounting to over 600 billion [1]. Group 1 - Fourhui Fushi's controlling shareholder plans to reduce holdings by no more than 3% of the company's shares [2]. - Huiyun Titanium's controlling shareholder intends to reduce holdings by no more than 2.98% of the company's shares [2]. - Yong'an Convertible Bond is subject to strong redemption [2]. Group 2 - Baichuan Co., Ltd.'s actual controller has been performing duties normally [2]. - Haining Convertible Bond and Honglu Convertible Bond will not undergo adjustments [2]. - Yinxin Convertible Bond and Jingyuan Convertible Bond will not face strong redemption [2]. Group 3 - Dingjia Precision's new stock on the Beijing Stock Exchange is available for subscription on July 22 [2]. - Hanghai Group is involved in new stock subscriptions on the Shanghai and Shenzhen exchanges [2].

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]

Group 1 - The board of directors of Jiangsu Jingyuan Environmental Protection Co., Ltd. held its 18th meeting of the 4th board on July 18, 2025, via communication method, with all 9 directors present and agreeing to waive the notice period for the meeting [1][2] - The board unanimously approved the proposal not to redeem the "Jingyuan Convertible Bonds" early, as the company's stock price met the required conditions for at least 15 trading days out of the last 30 trading days [1] - The company will not exercise the early redemption rights for the "Jingyuan Convertible Bonds" for the next three months, from July 19, 2025, to October 18, 2025, and will reassess the situation on October 19, 2025 [1]

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].

Group 1 - The Zhongzheng Convertible Bond Index closed up 0.84% at 452.81, with a trading volume of 73.29 billion [1] - The top gainers included Julong Convertible Bond, which rose by 20%, and Jinxian Convertible Bond, which increased by over 12% [1] - Other notable gainers were Jingyuan Convertible Bond, up over 9%, and both Jing23 Convertible Bond and Saili Convertible Bond, which rose nearly 9% [1] Group 2 - The Zhongchong Convertible Bond experienced a decline of over 2%, while both Punaite Convertible Bond and Huahong Convertible Bond fell by more than 1% [1]

Core Points - The company announced an adjustment to the conversion price of its convertible bonds "Jingyuan Convertible Bonds" from 9.79 CNY/share to 6.91 CNY/share, effective from July 15, 2025 [1][7] - The adjustment is based on the company's 2024 annual profit distribution and capital reserve conversion plan, which includes a cash dividend of 1.5 CNY per 10 shares and a capital reserve conversion of 4 shares for every 10 shares held [2][3] - The total cash dividend distributed will amount to approximately 24.54 million CNY, and the total shares increased will be around 65.44 million shares, resulting in a new total share capital of approximately 231.34 million shares [3] Conversion Price Adjustment Basis - The adjustment of the conversion price is in accordance with the regulations set by the China Securities Regulatory Commission and the terms outlined in the company's prospectus for the issuance of convertible bonds [1][5] - The conversion price adjustment formula considers various factors such as stock dividends, capital increases, and cash dividends, ensuring that the interests of convertible bondholders are protected [5][6] Profit Distribution and Capital Increase Plan - The profit distribution plan was approved at the company's annual general meeting on May 16, 2025, and will be based on the total share capital after deducting shares held in the repurchase account [2][3] - The effective date for the rights distribution will be July 14, 2025, with the ex-dividend date set for July 8, 2025 [3][7] Calculation of Adjusted Conversion Price - The adjusted conversion price was calculated using the formula that incorporates the cash dividend and the capital increase rate, resulting in a final conversion price of 6.91 CNY/share after rounding [6][7] - The calculation process involved determining the actual participating share capital and applying the adjusted cash dividend and capital increase rate to derive the new conversion price [6]

Core Viewpoint - The company has announced adjustments to its 2024 profit distribution cash dividend total and capital reserve transfer to increase share capital, maintaining the per-share distribution ratios while adjusting total amounts due to changes in total share capital [1][4]. Group 1: Pre-Adjustment Plan - The initial profit distribution and capital reserve transfer plan proposed a total share capital of 164,176,806 shares, with a base of 161,887,768 shares after deducting 2,289,038 shares held in the repurchase account, aiming to transfer 64,755,107 shares [1][4]. Group 2: Post-Adjustment Plan - As of March 31, 2025, the company plans to maintain the per-share distribution and transfer ratios, adjusting the total amounts accordingly. The adjusted total share capital is now 165,897,988 shares, with a cash dividend total of 24,541,342.5 yuan (including tax) and a transfer of 65,443,580 shares [2][3][4]. Group 3: Specific Adjustments - The cash dividend per 10 shares remains at 1.5 yuan (including tax), with the total cash dividend adjusted from 24,283,165.2 yuan to 24,541,342.5 yuan. The capital reserve transfer remains at 4 shares for every 10 shares held, with the total adjusted from 64,755,107 shares to 65,443,580 shares [4][5]. Group 4: Reason for Adjustments - The adjustments are due to the conversion of the company's publicly issued convertible bonds "Jingyuan Convertible Bonds," which increased the total share capital from 164,176,806 shares to 165,897,988 shares by 1,721,182 shares during the conversion period [3][4].

Group 1 - The company announced a profit distribution and capital reserve conversion plan for the year 2024, which includes a cash dividend of 1.50 yuan (including tax) for every 10 shares and a capital reserve conversion of 4 shares for every 10 shares held [2][3] - The plan was approved at the company's annual general meeting held on May 16, 2025, and further details were disclosed in previous announcements [2][3] - The company will adjust the conversion price of its convertible bonds in accordance with the terms outlined in the bond issuance prospectus following the implementation of the profit distribution plan [3][4] Group 2 - The convertible bonds will be suspended from conversion from July 8, 2025, until the equity distribution registration date, with resumption of conversion on the first trading day after the registration date [3][4] - Investors wishing to enjoy the benefits of the equity distribution must convert their bonds by July 7, 2025 [3] - The company will announce the specific adjustments to the conversion price of the convertible bonds on the day of the suspension [4]