债券代码：243568 债券简称：GK 津创 01 证券代码：600874 证券简称：创业环保 公告编号：临 2025-046 天津创业环保集团股份有限公司 第九届董事会第七十一次会议决议公告 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、准确性和完整性承担个别及连带责任。 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）第九届 董事会第七十一次会议于 2025 年 11 月 26 日现场结合通讯表决方式召开，应参加 会议董事 9 人，实际参加会议董事 8 人，董事聂艳红女士因公无法参会，委托董 事付兴海先生代为参会表决。公司高级管理人员列席了本次会议。本公司已于 2025 年 11 月 20 日将本次董事会会议通知和会议材料以电邮形式发送给本公司全体董 事。本次董事会的召开程序符合《公司法》及《公司章程》的有关规定，会议审 议通过了如下议案： 1.关于审议 2024 年职业经理人及高级管理人员经营业绩考核结果的议案 本议案已经董事会薪酬与考核委员会审议通过。董事聂艳红作为考核对象， 对此议案回避表决。 本议案表决结果如下：8 票同意，0 票 ...

Core Insights - The company held a successful earnings briefing for Q3 2025 on November 20, featuring key executives and board members [1] - The independent director emphasized the ongoing "14th Five-Year" strategic planning, focusing on long-term development and high-quality growth [1] Financial Performance - For the first nine months of 2025, the company reported a revenue of 3.447 billion yuan, a year-on-year increase of 1.70% [1] - Net profit reached 702 million yuan, reflecting a year-on-year growth of 3.59% [1] - The company achieved a net operating cash flow of 521 million yuan [1] - In Q3 alone, revenue was 1.269 billion yuan, up 8.36% from the same period last year [1] - Q3 net profit was 295 million yuan, showing a year-on-year increase of 2.22% [1]

Core Viewpoint - The company is focusing on strategic new business directions, particularly in distributed photovoltaic power generation, user-side energy storage, and new energy cooling and heating services, to optimize its overall business structure [1][2] Financial Performance - For the first nine months of 2025, the company achieved a revenue of 3.447 billion yuan, a year-on-year increase of 1.70%, and a net profit of 702 million yuan, up 3.59% year-on-year [2] - In the third quarter, the company contributed a revenue of 1.269 billion yuan, representing an 8.36% growth compared to the same period last year, with a net profit of 295 million yuan, a 2.22% year-on-year increase [2] Business Strategy - The company emphasizes the importance of environmental governance, particularly in response to the central ecological environment protection inspection in Tianjin, and aims to transform into a "comprehensive urban environmental service provider" [1] - The company has adopted a strategy focused on "three new" and "three quantities," achieving significant results through strategic leadership, deepening reforms, operational effectiveness, technological empowerment, and risk control [1]

2025年以来，创业环保坚持以"三新""三量"为抓手，"战略引领、深化改革、经营创效、科技赋能、风 险防控"等工作取得显著成效，公司运行稳中向好。 数据显示，2025年1-9月，创业环保实现营业收入34.47亿元，同比上升1.70%；净利润7.02亿元，同比上 升3.59%；扣非净利5.98亿元；经营现金流净额为5.21亿元。其中，第三季度贡献营收12.69亿元，较上 年同期增长8.36%；净利润2.95亿元，同比增长2.22%；扣非净利2.01亿元。（全景网） 11月20日下午，创业环保（600874.SH）2025年第三季度业绩说明会在全景路演成功举办。创业环保代 总经理张健、创业环保总会计师聂艳红、创业环保董事会秘书齐丽品、创业环保 董事王永威、创业环 保董事安品东、创业环保独立董事薛涛出席本次说明会。 交流会上，问及业务拓展以及新规的应对，创业环保董事安品东表示，在新规下，公司的全国发展布局 并未止步，公司目前正在进行十五五战略规划，通过深入研究行业政策，加大对宏观经济、产业应对、 地域特性等方面的分析力度，公司未来将聚焦优势区域，实施"一个项目一座城"，构建"一重一轻一产 业"的业务结构。 据介绍， ...

Core Viewpoint - The company is actively addressing long-term receivables and exploring new business opportunities while maintaining a focus on environmental services and strategic growth initiatives [1][2][3] Group 1: Financial Performance and Management - As of the end of Q3 2025, the company reported long-term receivables of 5.16 billion yuan, indicating a persistent challenge in managing receivables [2] - The company is implementing various measures to tackle accounts receivable issues, including cash collections and exploring potential project asset injections [2] - The overall financing cost is expected to decrease slightly compared to the previous year, with ongoing efforts to optimize the debt structure [3] Group 2: Strategic Development and Market Position - The company is exploring opportunities for market expansion and is focused on enhancing its market share in the environmental services sector [2][3] - The company is undergoing a "15th Five-Year" strategic planning process, emphasizing regional advantages and a tailored project approach [3] - The company aims to transition into a comprehensive urban environmental service provider while maintaining operational efficiency [2] Group 3: Future Projects and Investments - Current construction projects include various water treatment and renewable energy initiatives, such as the Tianjin urban recycled water pipeline project and the Karamay sewage treatment plant [4] - The company is committed to sustainable development through new project reserves and is actively seeking new market opportunities [3][4] - The expected annualized return on significant projects like the Tianjin recycled water pipeline is aligned with the company's internal investment return requirements [4] Group 4: Shareholder Returns and Value Management - The company has been increasing its dividend payout ratio, with a target of 33.07% for 2024, and is exploring further enhancements to shareholder returns [4] - Discussions regarding a share buyback plan are ongoing, with future actions dependent on market conditions [4] - The major shareholder is focused on value management strategies, including optimizing dividend plans and potential asset injections to enhance market value [4]

2024年7月29日，本公司以参与公开招标的方式中标赤壁市陆水工业园污水处理厂及配套管网项目特许 经营TOT项目（下称"该项目"）。该项目采用TOT模式实施。2024年11月7日，经本公司第九届董事会 第四十四次会议审议通过，同意投资该项目并设立赤壁创环水务有限公司（以下简称"赤壁创环公 司"）。鉴于该项目在建设阶段实施了TOT转让，不符合特许经营TOT模式的实施要求，未能通过国家 发改委审核，该项目无法继续实施，赤壁创环公司于2025年6月12日收到赤壁市住建局函件，明确"解除 该项目特许经营协议"。本公司认为按照终止协议约定，可以有效保障收回转让款，赤壁创环公司投入 的前期费用也已通过其他方式实现投资平衡，终止该项目不会对本公司发展产生影响。 经审议，董事会同意赤壁创环公司终止该项目，并同意赤壁创环公司与赤壁市住房和城乡建设局签署 《赤壁市陆水工业园污水处理厂及配套管网项目特许经营终止协议》。 1.关于终止恩施市大沙坝一期、二期（谭家坝）污水处理厂及配套管网工程特许经营项目的议案 经审议，公司董事会同意恩施市创环水务有限公司终止本项目并同意签订《恩施市人民政府与恩施市创 环水务有限公司解除〈恩施市大沙坝一 ...

Core Viewpoint - The electrolytic manganese waste residue treatment industry is experiencing growth driven by increasing demand for electrolytic manganese, supportive government policies, and technological advancements. The market size is projected to reach 4.339 billion yuan in 2024, reflecting a year-on-year increase of 2.6% [1][6]. Industry Overview - Electrolytic manganese waste residue is a byproduct of electrolytic manganese production, containing harmful substances that pose environmental and health risks if not treated properly. Treatment methods include safe storage, harmless treatment, and resource utilization, which can be further categorized into four technical approaches: safe storage technology, dry processing technology, pyrometallurgical technology, and hydrometallurgical technology [3][4]. Market Size and Growth - The electrolytic manganese waste residue treatment market in China is expected to reach 4.339 billion yuan in 2024, with a year-on-year growth of 2.6% [1][6]. The production of electrolytic manganese waste residue is projected to reach 12.195 million tons in 2024, marking a 19.4% increase compared to the previous year [5][6]. Industry Development Trends 1. **Technological Advancements**: Continuous improvement in treatment technologies is essential due to tightening environmental regulations and increasing quality demands from downstream industries [9]. 2. **Accelerated Industry Consolidation**: Increased competition is leading to consolidation within the industry, with stronger companies likely to acquire weaker ones, enhancing market concentration [10][11]. 3. **Resource Utilization**: The waste residue contains valuable mineral elements, and its resource utilization can yield significant economic and environmental benefits. Potential applications include production of autoclaved bricks, fertilizers, road materials, and cement [12]. Competitive Landscape - The industry is becoming increasingly competitive, with numerous companies entering the market. Key players include Beijing Wanbangda Environmental Technology Co., Ltd., China Electric Environmental Protection Co., Ltd., and Tianjin Chuangye Environmental Protection Group Co., Ltd. [6][8].

Core Viewpoint - The company has decided to terminate two wastewater treatment projects in Enshi and Chibi, ensuring investment balance and no adverse impact on its operations. Additionally, the company is establishing a new joint venture for urban infrastructure operations in Ningguo and providing a loan to its subsidiary for operational funding [1][4][8]. Group 1: Termination of Projects - The company has resolved to terminate the Enshi Dasha Ba Phase I and II wastewater treatment project due to regulatory requirements and has reached a consensus with local authorities on the termination arrangements [1][2]. - The termination of the Chibi Lushui Industrial Park wastewater treatment project is also confirmed, as it did not meet the necessary regulatory standards for the TOT model, and the company will recover its investment through the termination agreement [4][5]. Group 2: New Joint Venture - The company will establish Ningguo Jingkai Chuanghuan Water Co., Ltd. in partnership with Ningguo Construction Investment Group to manage urban infrastructure projects, including wastewater treatment facilities [6][7]. Group 3: Financial Support to Subsidiary - The company has approved a loan of up to 40 million yuan to its subsidiary, Hebei Guojin Tianchuang Wastewater Treatment Co., Ltd., to address operational funding gaps due to insufficient service fee collections [8][9].

智通财经APP讯，天津创业环保股份(01065)发布公告，公司于2025年11月14日召开第九届董事会第七十 次会议，审议通过了《关于终止恩施市大沙坝一期、二期(谭家坝)污水处理厂及配套管网工程特许经营 项目的议案》。受PPP新机制政策调整影响，董事会同意终止实施本项目。 （原标题：天津创业环保股份(01065)终止恩施市大沙坝一期、二期(谭家坝)污水处理厂及配套管网工程 特许经营项目） 经分析，公司认为，终止本项目能够实现投资平衡，不会对公司经营发展产生影响。 ...

格隆汇11月17日丨天津创业环保股份(01065.HK)宣布，于2025年11月14日，董事会审议通过公司(作为 贷款人)根据2025借款合同向河北国津天创(作为借款人)提供人民币4000万元的借款，约定借款期限为三 年。 ...