Group 1 - The company held its 14th meeting of the 9th Board of Directors on November 28, 2025, where the resolution to sell assets of its wholly-owned subsidiary was approved [1][2][3] - The assets being sold include the operational assets related to the municipal solid waste incineration power generation project in Mudanjiang, with a total transaction value of RMB 580 million [6][30] - The transaction does not require shareholder approval and is not classified as a related party transaction or a major asset restructuring [6][30] Group 2 - The buyer of the assets is the Mudanjiang Comprehensive Administrative Law Enforcement Bureau, a government agency with no existing related party relationships with the company [7][9][10] - The assets being sold include machinery, buildings, land use rights, inventory, and other operational assets, with a total book value of approximately RMB 580 million [11][12][14][30] - The sale is part of the company's strategy to optimize its business layout and resource allocation, aiming to enhance asset operation efficiency and overall profitability [30] Group 3 - The payment for the assets will be made in installments, with RMB 316 million due within five working days of the agreement's effectiveness, followed by additional payments by the end of December 2025 and January 2026 [20][21] - The company expects a reduction in net profit of approximately RMB 47 million for the fiscal year 2025 due to this transaction, although the impact on the company's ongoing operations is deemed minimal [30]

格隆汇12月2日丨中国天楹(000035.SZ)公布，为满足地方政府经济规划及对公用事业基础设施管理要 求，公司全资子公司牡丹江天楹环保能源有限公司（简称"牡丹江天楹"）将牡丹江市生活垃圾焚烧发电 项目（简称"牡丹江项目"）与经营相关的资产（包括机器设备、房屋建筑物、土地使用权、存货及其他 经营性资产）出售给牡丹江市综合行政执法管理局（简称"牡丹江市综管局"），资产出售对价含税金额 为人民币5.8亿元。 公司于2025年11月28日召开第九届董事会第十四次会议，审议并通过了《关于全资子公司出售资产的议 案》，董事会同意公司全资子公司牡丹江天楹与牡丹江市综管局签署《牡丹江市生活垃圾焚烧发电厂特 许经营项目终止及资产回购协议》并出售牡丹江项目资产，同时授权公司经营层办理本次交易事项相关 的后续事宜（包括但不限于签署相关协议、办理资产移交事项等）。 ...

Core Viewpoint - China Tianying (000035.SZ) announced the sale of its assets related to the Mudanjiang waste-to-energy project to the Mudanjiang Comprehensive Administrative Law Enforcement Bureau for a total consideration of RMB 580 million, in line with local government economic planning and public utility infrastructure management requirements [1] Group 1: Asset Sale Details - The assets sold include machinery, buildings, land use rights, inventory, and other operational assets related to the Mudanjiang waste-to-energy project [1] - After the sale, Mudanjiang Tianying will no longer hold the concession for this project [1] Group 2: Financial Impact - The original revenue and profit from the Mudanjiang project accounted for a low proportion of the company's overall performance, indicating that the sale is not expected to significantly impact the company's future operational capabilities [1] - Preliminary estimates suggest that the transaction will reduce the company's consolidated net profit by approximately RMB 47 million in the fiscal year 2025, with the final accounting treatment and impact to be confirmed by the annual audit [1]