（文章来源：证券日报） 证券日报网讯 2月26日，恒合股份发布公告称，公司2025年实现营业收入55776801.50元，同比下降 20.58%；归属于上市公司股东的净利润为-10209420.12元，同比下降5.15%。 ...

Group 1 - The core viewpoint of the news is that Henghe Co., Ltd. is experiencing fluctuations in its stock performance and financing activities, with a notable increase in shareholder accounts and a decrease in average circulating shares [1][2]. - On February 6, Henghe Co., Ltd. saw a stock decline of 1.28%, with a trading volume of 15.54 million yuan. The financing buy-in amount was 34,500 yuan, with no financing repayment, resulting in a net financing buy-in of 34,500 yuan [1]. - As of February 6, the total balance of margin trading for Henghe Co., Ltd. was 2.776 million yuan, accounting for 0.23% of the circulating market value, indicating a high level compared to the past year [1]. Group 2 - As of September 30, the number of shareholders for Henghe Co., Ltd. increased to 4,723, a rise of 23.22%, while the average circulating shares per person decreased by 19.13% [2]. - For the period from January to September 2025, Henghe Co., Ltd. reported operating revenue of 38.34 million yuan, a year-on-year decrease of 6.44%, and a net profit attributable to shareholders of -6.30 million yuan, showing a year-on-year increase of 33.73% [2]. - Since its A-share listing, Henghe Co., Ltd. has distributed a total of 7.055 million yuan in dividends, with no dividends paid in the last three years [3].

Core Viewpoint - The company has received a patent for a pressure membrane separation oil and gas recovery system, which is expected to enhance its core competitiveness and promote continuous technological innovation [1] Group 1: Patent and Innovation - The company announced the receipt of a patent certificate for an invention related to oil and gas recovery systems and methods [1] - The patent is expected to protect the company's intellectual property and leverage its advantages in independent innovation [1] - The company holds a total of 21 patents, including 5 invention patents, 14 utility model patents, and 2 design patents [1] Group 2: Business Operations - The company maintains a leading position in oil and gas recovery devices and online monitoring projects across various regions, including Xinjiang, Liaoning, Sichuan, Tianjin, and Beijing [2] - The company has expanded its operations in maintenance services for oil and gas treatment devices and online monitoring systems in regions such as Beijing, Zhejiang, Jiangsu, and Shaanxi [2] - The company aims to explore the recovery and utilization of associated gas in oil fields and is working towards upstream development in the petrochemical sector [2] Group 3: Research and Development - In the first half of 2025, the company invested 5.45 million yuan in R&D, accounting for 21.76% of its revenue [2] - The company is actively developing products that meet market demands and customer requirements, focusing on core technologies in oil and gas treatment and environmental monitoring systems [2] - The company has made progress in various R&D projects, including VOCs monitoring systems and portable instruments [2] Group 4: Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 38.34 million yuan [3]

Group 1 - The company, Henghe Co., Ltd., announced the receipt of an invention patent certificate from the National Intellectual Property Administration on February 3, 2026 [2] - The patent pertains to a system, method, and related products for the recovery and treatment of oil and gas using a normal pressure membrane separation process [2]

Market Overview - On January 30, the environmental equipment sector rose by 0.09% compared to the previous trading day, with Hengyu Environmental leading the gains [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Stock Performance - Hengying Environmental (688309) closed at 31.60, up 12.06% with a trading volume of 58,100 shares and a transaction value of 175 million yuan [1] - Other notable performers included Meiyu Technology (688376) with a closing price of 69.02, up 2.77%, and Lihua Technology (300800) at 12.69, up 2.59% [1] - The table of stock performance shows various companies in the environmental equipment sector with their respective closing prices, percentage changes, trading volumes, and transaction values [1] Capital Flow - The environmental equipment sector experienced a net outflow of 124 million yuan from institutional investors, while retail investors saw a net inflow of 151 million yuan [2] - The capital flow table indicates the net inflow and outflow for various stocks within the sector, highlighting the dynamics between institutional and retail investors [2][3] Individual Stock Analysis - Yinfeng Environment (000967) had a net inflow of 28.08 million yuan from institutional investors, while Hengying Environmental (688309) saw a net inflow of 18.60 million yuan [3] - Conversely, Huahong Technology (002645) faced a significant decline of 10.00%, with a trading volume of 323,900 shares and a transaction value of 507 million yuan [2][3]

Group 1 - The company, Henghe Co., Ltd., announced an expected net profit attributable to shareholders for 2025 ranging from -12 million to -8.5 million yuan, compared to -9.7094 million yuan in the same period last year [2]

Core Viewpoint - Henghe Co., Ltd. announced the establishment of a joint venture with Shanghai Huapei Shuneng Technology Group to enhance its research and manufacturing capabilities for sensor cores and assemblies [1] Group 1: Joint Venture Details - The joint venture will be established by Wuxi Chip Intelligence Technology Co., Ltd., a subsidiary of Henghe Co., Ltd., and Shanghai Huapei Shuneng Technology Group [1] - The legal representative of the joint venture is Wu Yuehui, and it will be registered in Shanghai with a registered capital of 22.29 million RMB [1] - Huapei Shuneng will contribute 15.603 million RMB in cash, holding a 70% stake in the joint venture, while Chip Intelligence will contribute non-monetary assets valued at 6.687 million RMB, holding a 30% stake [1]

Core Viewpoint - The environmental equipment sector experienced a rise of 0.57% on January 21, with Henghe Co., Ltd. leading the gains. The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1]. Group 1: Stock Performance - Henghe Co., Ltd. closed at 20.05, with a gain of 4.48% and a trading volume of 24,700 shares, amounting to a transaction value of 48.91 million yuan [1]. - Hengying Environmental closed at 28.52, up 4.35%, with a trading volume of 43,600 shares and a transaction value of 122 million yuan [1]. - Yingfeng Environment closed at 7.33, increasing by 2.95%, with a trading volume of 367,900 shares and a transaction value of 267 million yuan [1]. - Other notable stocks include Bixing Wulian, Shengjian Technology, and Lihua Technology, all showing positive growth [1]. Group 2: Capital Flow - The environmental equipment sector saw a net inflow of 18.94 million yuan from institutional investors, while retail investors contributed a net inflow of 66.02 million yuan. However, there was a net outflow of 84.96 million yuan from speculative funds [2]. - Specific stocks like Huahong Technology and Yingfeng Environment attracted significant net inflows from institutional investors, while experiencing outflows from speculative and retail investors [3].

Group 1 - The core viewpoint of the news is that Henghe Co., Ltd. has shown a significant increase in stock price and trading volume, indicating potential investor interest and market activity [1] - On December 24, Henghe Co., Ltd. experienced a stock price increase of 2.44% with a trading volume of 19.40 million yuan, and a net financing purchase of 35,300 yuan [1] - The total margin balance of Henghe Co., Ltd. reached 1.42 million yuan, accounting for 0.09% of its market capitalization, which is above the 70th percentile of the past year [1] Group 2 - As of September 30, the number of shareholders for Henghe Co., Ltd. increased to 4,723, a rise of 23.22%, while the average circulating shares per person decreased by 19.13% to 10,269 shares [2] - For the period from January to September 2025, Henghe Co., Ltd. reported operating revenue of 38.34 million yuan, a year-on-year decrease of 6.44%, and a net profit attributable to shareholders of -6.30 million yuan, an increase of 33.73% year-on-year [2] - Since its A-share listing, Henghe Co., Ltd. has distributed a total of 7.06 million yuan in dividends, with no dividends paid in the last three years [3] Group 3 - Henghe Co., Ltd. specializes in the sales, installation, and debugging of secondary oil and gas recovery systems for gas stations, level measurement systems, and online monitoring systems for oil and gas recovery [1] - The main revenue sources for Henghe Co., Ltd. include oil and gas recovery equipment (54.81%), online monitoring systems (26.28%), ceramic capacitor pressure cores (12.50%), level measurement systems (4.66%), smart network monitoring platforms (0.97%), and testing services (0.79%) [1]

Group 1 - The company, Henghe Co., announced that it will hold its second extraordinary general meeting of shareholders on December 30, 2025 [1]