广发证券股份有限公司 关于南京万德斯环保科技股份有限公司 2024 年度募集资金存放与使用情况的核查意见 广发证券股份有限公司（以下简称"广发证券"或"保荐机构"）作为南京 万德斯环保科技股份有限公司（以下简称"万德斯"或"公司"）首次公开发行 股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自律监管 指引第 1 号——规范运作》及《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》等有关规定，对万德斯 2024 年度募集资金存放与使用 情况事项进行了核查，具体核查情况如下： 一、募集资金基本情况 （一）实际募集资金金额及资金到位时间 经中国证券监督管理委员会《关于同意南京万德斯环保科技股份有限公司首 次公开发行股票注册的批复》（证监许可[2019]2767 号）核准，公司向社会公开 发行人民币普通股（A 股）21,249,461 股，每股面值 1.00 元，每股发行价 25.20 元，共募集资金人民币 535,486,417.20 元，扣除承销费等发行费用（不含税）人 民币 54,096,335.16 ...

南京万德斯环保科技股份有限公司 内部控制审计报告 苏公 W[2025]E1287 号 公证天业会计师事务所(特殊普通合伙) Gongzheng Tianye Certified Public Accountants, SGP 中国 无锡 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.on6.gov.cn）"进行查报 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://accs.gov.cn）"进行查报： 目 | 序号 | 内 | 201 | 页码 | | --- | --- | --- | --- | | | 内部控制审计报告 | | 1-2 | | വ | 内部控制自评报告 | | 3-8 | and and 公证天业会计师事务所 (特殊普通合伙) Gongzheng Tianye Certified Public Accountants, SGP 中国、江苏、无锡 86 (510) 68798988 86 (510) 68567788 信箱:mail@gztycpa.cn Wuxi. Jiangsu. China Tel: 86 (510) 68798 ...

Financial Performance - The company's revenue for Q1 2025 was ¥90,439,557.91, a decrease of 41.02% compared to ¥153,326,988.59 in the same period last year[3] - The net profit attributable to shareholders was -¥5,247,402.73, representing a decline of 169.22% from a profit of ¥7,581,160.86 in the previous year[3] - The basic earnings per share were -¥0.0617, down 168.60% from ¥0.0900 in the same period last year[3] - Net profit for Q1 2025 was a loss of ¥6,101,532.98, compared to a profit of ¥6,244,943.55 in Q1 2024, representing a significant decline[17] - The company reported a gross loss of ¥6,299,830.81 in Q1 2025, contrasting with a gross profit of ¥3,663,811.30 in Q1 2024[17] Cash Flow and Liquidity - The net cash flow from operating activities increased by 102.84% to ¥98,697,073.78, up from ¥48,657,809.26 year-on-year[3] - Cash inflows from operating activities in Q1 2025 totaled ¥270,982,750.63, slightly up from ¥269,162,596.56 in Q1 2024[21] - The total cash and cash equivalents at the end of the period reached $234,578,068.65, significantly higher than $96,114,372.78 at the end of the previous period[22] - The company reported a total cash outflow from operating activities of $172,285,676.85, down from $220,504,787.30, reflecting improved operational efficiency[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,232,636,747.40, reflecting a 7.56% increase from ¥2,075,682,593.71 at the end of the previous year[4] - Current assets totaled RMB 1,197,838,424.84, up from RMB 1,125,827,990.59, indicating an increase of about 6.4%[12] - The total liabilities increased to RMB 1,166,898,408.05 from RMB 1,003,842,721.38, representing a growth of approximately 16.3%[13] - The company’s equity remained stable at RMB 85,134,666.00, unchanged from the previous period[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,741[8] - The company’s major shareholder, Wands Investment, holds 28.88% of the shares, and a share transfer agreement has been signed with Ruiyuan International, which will result in a change of control[10] - The total equity attributable to shareholders of the parent company was ¥1,027,651,420.90, a slight decrease from ¥1,032,898,823.63[14] Operational Efficiency - The company faced a significant decline in revenue due to market environment factors and a focus on customer creditworthiness, leading to stricter customer selection standards[6] - The company incurred financial expenses of ¥4,169,995.96 in Q1 2025, an increase from ¥2,441,893.83 in Q1 2024[17] - The company experienced a significant increase in credit impairment losses, totaling ¥5,148,698.84 in Q1 2025, compared to ¥9,022,963.28 in Q1 2024[17] Investment Activities - Cash inflow from investment activities totaled $233,454,772.78, compared to $105,914,500.16 in the prior period, indicating a strong increase in investment returns[22] - The cash paid for investments was $223,000,000.00, compared to $68,104,069.44 in the previous period, indicating a strategic increase in capital expenditures[22] Research and Development - Research and development expenses totaled ¥4,806,981.53, a decrease of 24.98% from ¥6,407,936.09, while the R&D expense as a percentage of revenue increased to 5.32% from 4.18%[4] Accounting Standards - The company will not apply new accounting standards starting from 2025, maintaining current reporting practices[23]

Financial Performance - Wande's has experienced a decline in operating performance and consecutive losses since its listing, despite maintaining good cash flow during adverse conditions[3]. - Wande's plans to not distribute profits for the 2024 fiscal year, with no cash dividends or stock bonuses proposed[11]. - The company's operating revenue for 2024 was approximately ¥621.58 million, a decrease of 23.24% compared to ¥809.75 million in 2023[28]. - The net profit attributable to shareholders for 2024 was approximately -¥74.21 million, showing an improvement from -¥86.63 million in 2023[28]. - The basic earnings per share for 2024 was -¥0.8731, compared to -¥1.0192 in 2023, indicating a reduction in losses[29]. - The cash flow from operating activities for 2024 was approximately ¥81.87 million, a significant recovery from -¥132.84 million in 2023[30]. - The company's total assets decreased by 5.15% to approximately ¥2.08 billion in 2024 from ¥2.19 billion in 2023[28]. - The company achieved operating revenue of 621.58 million yuan, a decrease of 23.24% year-on-year, with a net profit attributable to shareholders of -74.21 million yuan[38]. Strategic Direction - The company aims to shift its strategy from environmental governance to resource recycling, aligning with Chery Group's strategic goals in the green materials sector, which is projected to be a trillion-level market[4]. - The company has outlined its development strategy and operational plans in the annual report, which will be submitted for shareholder approval[11]. - The company acknowledges the risks associated with forward-looking statements regarding its future plans and strategies[12]. - The company plans to adjust its business segment allocation in response to market changes and enhance its core competitiveness through innovation and technology development[93]. Research and Development - The company is investing RMB 50 million in R&D for sustainable waste management solutions, aiming for a 30% reduction in operational costs[27]. - Research and development expenses accounted for 5.14% of operating revenue in 2024, an increase of 0.54 percentage points from 4.60% in 2023[29]. - The total R&D expenditure for the year was approximately ¥31.96 million, a decrease of 14.20% compared to the previous year, while the R&D expenditure as a percentage of revenue increased by 0.54 percentage points to 5.14%[72]. - The company has filed for 15 new patents during the reporting period, including 3 invention patents and 12 utility model patents[40]. - The company has developed a new insect automatic breeding technology for kitchen waste, which can convert proteins and carbohydrates into new insect protein resources[66]. Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[27]. - The company is focusing on the development of advanced environmental technology equipment and integrated solutions, particularly in organic waste and industrial wastewater sectors[42]. - The company aims to enhance its environmental infrastructure capabilities, adding 12 million cubic meters per day in wastewater treatment capacity by 2025[63]. - The company aims to expand its organic waste business globally, leveraging its technology and service capabilities to enhance market competitiveness[128]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholders' rights[138]. - The company is undergoing a significant management transition, with several key personnel changes, including the appointment of a new General Manager and the departure of previous executives[143]. - The company has implemented stock cancellation measures for several executives, impacting their shareholdings and remuneration[143]. - The company has established a comprehensive compensation system to attract and retain talent, linking performance pay to monthly and annual KPIs[166]. Environmental Responsibility - The company adheres to environmental protection laws and has not faced any penalties for environmental violations during the reporting period[191]. - The company promotes energy-saving practices and has implemented measures to reduce resource consumption, including advocating for paperless operations[193]. - The company actively engages in social responsibility initiatives, including employee care and community involvement, to foster a positive corporate image[186]. - The company emphasizes adherence to technology ethics as a cornerstone of its development, integrating ethical considerations into every aspect of technology research and product design[199]. Financial Management - The company reported a significant increase in financial expenses by 130.89% due to increased borrowing costs[96]. - The company's debt-to-equity ratio remains stable at 0.5, ensuring a healthy financial structure for future investments[27]. - The company has a cash dividend policy that prioritizes cash dividends when conditions are met, but for 2024, it will not distribute cash dividends or issue new shares due to a net loss of ¥74,209,085.42[170]. - The company has implemented a comprehensive risk management system, focusing on financial data analysis and budget management to improve financial warning capabilities[184].

南京万德斯环保科技股份有限公司 独立董事 2024年度述职报告 2024年1至10月,作为南京万德斯环保科技股份有限公司(以下简称"公 司"或"万德斯")的独立董事,本人严格按照《中华人民共和国公司法》(以 下简称"公司法")《中华人民共和国证券法》(以下简称"证券法")《上市 公司治理准则》和《上市公司独立董事管理办法》等有关法律、法规的规定以及 《南京万德斯环保科技股份有限公司章程》(以下简称"《公司章程》")、《独 立董事工作制度》的规定,本着维护公司及全体股东利益的原则,忠实履行独立 董事职责,持续关注公司法人治理结构、规范运作、重大经营活动、财务状况等, 积极出席相关会议,认真审议董事会各项议案,有效地保证公司运作的合理性和 公平性。现就 2024年度履行职责情况报告如下: 一、独立董事的基本情况 1、独立董事人员情况 公司董事会由9名董事组成,其中独立董事3人,占董事会人数三分之一以 上,符合相关法律法规及公司制度的规定。 2、独立董事任职董事会专门委员会的情况 在任期间,本人任董事会提名委员会主任委员,任董事会战略委员会委员。 3、个人履历、专业背景以及兼职情况 安立超先生,1963年6月生,中 ...

南京万德斯环保科技股份有限公司 独立董事 2024年度沐职报告 2024年 10至12月,作为南京万德斯环保科技股份有限公司(以下简称"公 司"或"万德斯"）的独立董事,本人严格按照《中华人民共和国公司法》（以 下简称"公司法")《中华人民共和国证券法》(以下简称"证券法")《上市 公司治理准则》和《上市公司独立董事管理办法》等有关法律、法规的规定以及 《南京万德斯环保科技股份有限公司章程》(以下简称"《公司章程》")、《独 立董事工作制度》的规定,本着维护公司及全体股东利益的原则,忠实履行独立 董事职责,持续关注公司法人治理结构、规范运作、重大经营活动、财务状况等, 积极出席相关会议,认真审议董事会各项议案,有效地保证公司运作的合理性和 公平性。现就 2024年度履行职责情况报告如下: 一、独立董事的基本情况 1、独立董事人员情况 公司董事会由9名董事组成,其中独立董事3人,占董事会人数三分之一以 上,符合相关法律法规及公司制度的规定。 2、独立董事任职董事会专门委员会的情况 在任期间,本人任董事会提名委员会主任委员,任董事会战略委员会委员。 3、个人履历、专业背景以及兼职情况 邹敏先生,1962年9月生, ...

Financial Performance - The company reported a basic earnings per share of -0.8731 yuan for 2024, an improvement of 14.33% compared to -1.0192 yuan in 2023 [1] - The net profit for 2024 was -0.74 billion yuan, showing a 14.94% increase from -0.87 billion yuan in 2023 [1] - Operating revenue decreased by 23.21% to 6.22 billion yuan in 2024 from 8.1 billion yuan in 2023 [1] - The return on equity was -6.92% in 2024, an improvement from -7.42% in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 48.8012 million shares, accounting for 57.41% of the circulating shares, with a change of 368,700 shares from the previous period [1] - The largest shareholder, Nanjing Wandes Investment Co., Ltd., holds 24.5841 million shares, representing 28.92% of the total share capital [2] - Liu Jun, the second-largest shareholder, holds 8.3538 million shares, which is 9.83% of the total [2] Dividend Policy - The company has decided not to distribute dividends or increase capital [1]

Core Viewpoint - The company Wandes disclosed that its associate, Caofeidian Wandes Environmental Technology Co., Ltd., applied for a credit facility of up to 200 million yuan from HSBC, with a guarantee of 160 million yuan provided by its controlling shareholder, Dongjiang Environmental [1][3]. Group 1: Financial Obligations and Guarantees - Wandes holds a 16% stake in Caofeidian Wandes and has agreed to provide a counter-guarantee for 16% of the 160 million yuan debt, which includes principal, interest, penalties, and other related costs [1][2]. - Dongjiang Environmental has already fulfilled its guarantee obligation to HSBC, amounting to 111 million yuan, which includes a loan principal of 110 million yuan and interest of 746,800 yuan [3]. - Wandes has a total external guarantee amounting to 515 million yuan, representing 46.38% of the audited net assets and 23.53% of total assets for the fiscal year 2023 [4]. Group 2: Financial Performance of Caofeidian Wandes - Caofeidian Wandes reported revenues of 31.68 million yuan and 7.96 million yuan for the first quarter of 2024 and 2025, respectively, with net losses of 22.25 million yuan and 6.29 million yuan during the same periods [4]. - The company has faced challenges in waste collection and disposal pricing, leading to operational cash flow difficulties and an inability to repay HSBC on time [3][5]. Group 3: Cash Flow and Impact on Operations - Wandes has a cash balance of 76.82 million yuan as of September 2024, and the company indicated that fulfilling the counter-guarantee obligation would occupy cash flow but would not significantly impact normal operations [1][4]. - If Wandes chooses not to pay the amount to Dongjiang Environmental, the latter may exercise its pledge rights, which could lead to a potential recovery of funds if there is a surplus after the pledge is realized [5].

证券代码：688178 证券简称：万德斯 公告编号：2025-015 南京万德斯环保科技股份有限公司 关于收到要求公司履行反担保责任通知的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、情况概述 （一）提供担保审批情况 万德斯（唐山曹妃甸）环保科技有限公司（以下简称"曹妃甸万德斯"）为南 京万德斯环保科技股份有限公司（以下简称 "公司"）参股公司，公司持有曹妃甸 万德斯 16%的股权。为进一步满足业务经营的资金需求，曹妃甸万德斯向汇丰银行 （中国）有限公司唐山分行（以下简称"汇丰银行"）申请综合授信，额度不超过 人民币 2 亿元，并由曹妃甸万德斯控股股东东江环保股份有限公司（以下简称"东 江环保"）为上述贷款中的 1.6 亿元提供连带责任担保。为了保障项目推进及主合 同项下 1.6 亿元债务本息及其他一切相关费用得到按时足额偿还，公司与东江环保 经协商一致，公司以持有曹妃甸万德斯的股权比例为限，向东江环保提供因其承担 1.6 亿元债务的 16%部分所对应的本金、利息、罚息、违约金等对应的担保责任的 质押反担保，质 ...

江苏世纪同仁律师事务所 法律意见书 江 苏 世 纪 同 仁 律 师 事 务 所 关 于 南 京 万 德 斯 环 保 科 技 股 份 有 限 公 司 2025年 第 一 次 临 时 股 东 会 的 江苏世纪同仁律师事务所 法律意见书 江苏世纪同仁律师事务所 关于南京万德斯环保科技股份有限公司 2025 年第一次临时股东会的法律意见书 法 律 意 见 书 南 京 市 建 邺 区 贤 坤 路 江 岛 智 立 方 C 座 4 层 邮编： 2 10019 电话： + 8 6 2 5 - 83304480 传真： + 8 6 2 5 - 83329335 1 致：南京万德斯环保科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》和中国证监会《上市公司股东会规则》等法律、法规和规范性文件以及 《南京万德斯环保科技股份有限公司章程》（以下简称"《公司章程》"）的相关规 定，江苏世纪同仁律师事务所（以下简称"本所"）受南京万德斯环保科技股份 有限公司（以下简称"公司"）的委托，指派本所律师出席公司 2025 年第一次临 时股东会（以下简称"本次股东会"），并就本次股东会的召集、召 ...