每经AI快讯，光大环境(00257.HK)盘中涨超4%，截至发稿，涨3.53%，报4.99港元，成交额1.15亿港 元。 ...

光大环境(00257)盘中涨超4%，截至发稿，涨3.53%，报4.99港元，成交额1.15亿港元。 光银国际发布研报称，若光大环境能成功A+H上市，一方面有助提升公司长期价值，另一方面可让光 大环境打通A股市场融资渠道。天风证券（601162）则认为，本次发行可以为公司的后续出海提供更充 足的资金储备。持续看好中国垃圾焚烧产业出海。 消息面上，光大环境去年11月发布公告，公司拟计划于深圳交易所发行不超过8亿股人民币股份。去年 12月26日，证监会网站显示，光大环境在深圳证监局办理辅导备案登记，启动上市辅导。 ...

光银国际发布研报称，若光大环境能成功A+H上市，一方面有助提升公司长期价值，另一方面可让光 大环境打通A股市场融资渠道。天风证券则认为，本次发行可以为公司的后续出海提供更充足的资金储 备。持续看好中国垃圾焚烧产业出海。 智通财经APP获悉，光大环境(00257)盘中涨超4%，截至发稿，涨3.53%，报4.99港元，成交额1.15亿港 元。 消息面上，光大环境去年11月发布公告，公司拟计划于深圳交易所发行不超过8亿股人民币股份。去年 12月26日，证监会网站显示，光大环境在深圳证监局办理辅导备案登记，启动上市辅导。 ...

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The report emphasizes the growth potential in waste incineration and the opportunities for companies to expand overseas, particularly in Southeast Asia and India, where there is a projected increase in waste incineration capacity [10][15] - The report highlights the significant increase in sales of new energy sanitation vehicles and the growth of unmanned sanitation projects, indicating a shift towards automation and electrification in the industry [17][20] - The 2026 strategy focuses on the dual drivers of value and growth, emphasizing the importance of marketization and efficiency improvements in the environmental sector [24][28] Industry Trends - Waste Incineration Growth: The report estimates a potential increase of approximately 500,000 tons/day in waste incineration capacity in ASEAN countries and India, corresponding to an investment scale of about 250 billion yuan [10] - Unmanned Sanitation Equipment: In 2025, the total amount of contracts for unmanned sanitation projects exceeded 12.6 billion yuan, with a year-on-year increase of over 150% [17] - New Energy Sanitation Vehicles: Sales of new energy sanitation vehicles increased by 70.9% in 2025, with a penetration rate of 21.11%, reflecting a growing trend towards electrification in the sanitation sector [20][30] Company Recommendations - Key companies recommended for investment include Longjing Environmental, Gao Neng Environment, Sains, and others, focusing on their growth potential in both domestic and international markets [4][15] - The report suggests that companies like Weiming Environmental and Sanfeng Environment are expected to benefit significantly from overseas expansion and high-value projects [15][24] - The report also highlights the importance of dividend increases and return on equity (ROE) improvements for companies such as Huanlan Environment and Green Power [15][24] Market Dynamics - The report notes that the profitability of waste incineration projects in Indonesia is significantly higher than in China due to favorable pricing and operational conditions [12][15] - The report indicates that the market for lithium battery recycling is improving, with rising metal prices and better margins for recycling projects [38][39]

内容概况：工业固废处理行业是针对工业生产过程所产生的固态、半固态废弃物，进行系统化收集、专 业运输以及最终处理处置的综合性产业。目前，我国固废处理行业尚处发展初期阶段，产业化程度和市 场集中度仍然较低。随着全球经济的发展以及工业化、城市化进程的持续推进，工业固废的产生量不断 增加，推动了工业固废处理市场规模的扩大。数据显示，中国工业固废处理行业市场规模从2016年的 6868.4亿元增长至2024年的9837.79亿元，年复合增长率为5%。2025年中国工业固废处理行业市场规模 约为10899.2亿元。未来，在环保法规日趋严格、循环经济战略深入实施以及处理技术持续创新的共同 驱动下，工业固废处理行业将加速向规范化、精细化与资源化的高质量方向发展，市场容量与产业成熟 度有望同步提升。 相关上市企业：瀚蓝环境（600323）、格林美（002340）、富春环保（002479）、伟明环保 （603568）、启迪环境（000826）、光大环境（00257）、维尔利（300190）、东江环保（002672）、 中创环保（300056）、华光环能（600475）等。 相关企业：辽宁仁意工业固废处理有限公司、苏州城绿工业固废 ...

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a favorable investment environment for renewable energy and gas companies [2][3]. Core Insights - The report highlights a slight increase in overall power generation in 2025, primarily driven by wind and solar energy contributions, while traditional coal power generation shows a decline [8][9]. - The extreme cold weather in the U.S. has led to a significant spike in natural gas prices due to increased demand and supply constraints [18][22]. - The report suggests various investment opportunities across different segments of the energy sector, including coal power, hydropower, nuclear power, renewable energy, and gas companies [18][43]. Summary by Sections 1. Power Generation - In December 2025, total power generation was 858.6 billion kWh, a year-on-year increase of 0.1%. Coal power generation decreased by 3.2%, while renewable sources like wind and solar saw significant growth [10][11]. - For the entire year of 2025, total power generation reached 9715.9 billion kWh, up 2.2% from the previous year, with coal power down by 1.0% and solar power up by 24.4% [15][19]. 2. Natural Gas - As of January 23, 2026, the Henry Hub spot price surged to $30.72/mmBtu, reflecting a week-on-week increase of 903.53%. European gas prices also rose significantly due to low inventory levels and increased demand [20][28]. - The report notes that the extreme cold weather has tightened supply and demand dynamics, leading to higher global gas prices, particularly in Europe and Northeast Asia [22][37]. 3. Investment Recommendations - For coal power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their integrated coal and power operations [18]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are favored due to favorable conditions for energy storage and reduced capital expenditures [19]. - Nuclear power companies like China National Nuclear Power and China General Nuclear Power are highlighted for their stable cost structures and growth potential [18]. - Renewable energy operators such as Xinte Energy and Longyuan Power are recommended as new market rules enhance the stability of returns [18]. - Gas companies like Kunlun Energy and New Hope Liuhe are suggested for their potential recovery in profitability due to cost reductions and improved pricing mechanisms [43].

Investment Rating - The report maintains a "Buy" rating for several companies in the environmental sector, including Huanlan Environment, Sanfeng Environment, and others, indicating a positive outlook for their stock performance [5]. Core Insights - The environmental industry is entering a critical phase of carbon reduction, with a focus on recycling and waste incineration. The demand for green energy and recycling industries is expected to rise significantly as China transitions to a dual control system for carbon emissions starting in 2026 [4][17]. - The introduction of the EU carbon tariff in 2026 is anticipated to increase the cost of exports from China, prompting companies to adopt greener practices to mitigate carbon emissions [4][17]. - High dividend assets in the environmental sector are expected to remain attractive in 2026, with companies like Guangda Environment and Huanlan Environment showing significant stock price increases in 2025 [4][5]. - The bio-diesel sector is experiencing a rise in UCO prices, which are expected to benefit companies involved in waste oil processing and bio-fuel production [19][25]. Summary by Sections Section 1: Market Performance - The environmental sector has shown strong performance in 2026, with water treatment, energy-saving, and recycling sectors leading the gains. Companies are diversifying into secondary businesses to enhance growth [11][14]. Section 2: Policy and Regulatory Developments - The report highlights the implementation of the "Solid Waste Comprehensive Governance Action Plan" aimed at reducing industrial solid waste and enhancing recycling efforts [33]. - The introduction of the carbon trading market and the EU carbon tariff are significant regulatory changes that will impact the industry [17][31]. Section 3: Company Performance and Recommendations - Key companies recommended for investment include Huanlan Environment, Shanghai Industrial Holdings, and others, which are expected to benefit from favorable market conditions and policy support [4][5]. - The report notes that the environmental sector's valuation is currently at a historical low, suggesting potential for future growth [45][52]. Section 4: Financial Analysis - The financial metrics for key companies indicate a positive outlook, with projected earnings per share (EPS) and price-to-earnings (PE) ratios suggesting undervaluation relative to historical performance [5]. Section 5: Market Trends - The report tracks the performance of various sub-sectors within the environmental industry, noting that energy-saving manufacturing and recycling have shown the most significant growth [49]. Section 6: Export and Pricing Trends - UCO prices have remained strong, with recent data showing a 6.1% increase compared to early 2025, indicating robust demand for bio-diesel feedstock [19][23]. Section 7: Carbon Market Activity - The carbon market has seen significant trading volumes, with recent data indicating a closing price of 78.50 CNY per ton, reflecting ongoing market activity and interest [31]. Section 8: Company Announcements - Recent announcements from companies like Dongjiang Environmental and Zhongyuan Environmental indicate strategic acquisitions aimed at enhancing operational capabilities and market positioning [42].

格隆汇1月16日丨光大环境(00257.HK)宣布，公司董事会会议将于2026年3月20日(星期五)举行，藉以批 准(其中包括)公司及其附属公司截至2025年12月31日止年度的全年业绩及其发布，以及考虑派发末期股 息(如有)。 相关事件 光大环境(00257.HK)拟3月20日举行董事会会议批准全年业绩 光大环境(00257.HK)：中国银行间市场交 易商协会批准公司多品种债务融资工具注册 ...

（股份代號：257） 董事會會議日期 中國光大環境（集團）有限公司（「本公司」）董事會（「董事會」）宣佈，本公司董事會會 議將於二零二六年三月二十日（星期五）舉行，藉以批准（其中包括）本公司及其附屬公 司截至二零二五年十二月三十一日止年度之全年業績及其發佈，以及考慮派發末期股息 （如有）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA EVERBRIGHT ENVIRONMENT GROUP LIMITED 中國光大環境（集團）有限公司 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） 中國光大環境（集團）有限公司 梁妍鈺 公司秘書 香港，二零二六年一月十六日 於本公告日期，董事會包括：(i)兩名執行董事－王思聯先生（董事會主席）及欒祖盛先生 （總裁）；(ii)兩名非執行董事－康國明先生及瞿利女士；及(iii)三名獨立非執行董事－ 范仁鶴先生、李淑賢女士及張翔教授，JP.。 承董事會命 ...

Core Viewpoint - The Ministry of Ecology and Environment of China has released the fifth batch of the national public open unit list for environmental facilities and urban sewage and waste treatment facilities, marking the first new list in nearly five years since 2020. Everbright Environment has successfully included 18 environmental projects, showcasing the company's commitment to green industry practices and corporate responsibility in line with the "Two Mountains" concept [1][3]. Group 1: Company Initiatives - Everbright Environment's 18 selected projects serve as benchmarks for the company's "open and share" philosophy and demonstrate the integration of technology in environmental protection [1][3]. - The company has opened 226 projects to the public since the second half of 2018, receiving approximately 220,000 visitors over three years, making it the earliest and largest enterprise in China to open environmental facilities to the public [3]. Group 2: Project Highlights - The Suzhou waste-to-energy project features China's first ecological exhibition hall within a waste incineration power plant, promoting environmental education [1]. - The Ninghai waste-to-energy project collaborates with other enterprises to enhance local tourism and environmental education [2]. - The Dongping waste-to-energy project successfully co-fires local agricultural waste with municipal waste, demonstrating practical environmental solutions [2]. - The Jiujiang waste-to-energy project has established an environmental education base, integrating education, science popularization, and industrial tourism [2]. - The Binhai sewage treatment project has innovated public engagement activities in collaboration with local government [2]. - The Rugao biomass direct combustion project has become a model for sustainable development and education in the Nantong area [2]. Group 3: Project List - The list of projects included in the fifth batch of national public open units features: 1. Tianjin Xiqing waste-to-energy project 2. Hebei Zhangjiakou waste-to-energy project 3. Heilongjiang Harbin waste-to-energy project 4. Jiangsu Yixing waste-to-energy project 5. Jiangsu Suzhou waste-to-energy project 6. Jiangsu Rugao biomass direct combustion project 7. Jiangsu Danyang waste-to-energy project 8. Zhejiang Ninghai waste-to-energy project 9. Zhejiang Shengzhou waste-to-energy project 10. Jiangxi Jiujiang waste-to-energy project 11. Shandong Zhucheng waste-to-energy project 12. Shandong Dongping waste-to-energy project 13. Shandong Binhai sewage treatment project 14. Henan Nanyang waste-to-energy project 15. Henan Xinyang waste-to-energy project 16. Henan Taikang waste-to-energy project 17. Hunan Xiangtan waste-to-energy project 18. Hunan Shaoyang waste-to-energy project [4][5].