Group 1 - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 17.95%, with 214 stocks having a shareholding ratio exceeding 20% [1] - As of July 14, southbound funds held a total of 4,488.75 million shares, accounting for 17.95% of the total share capital of the stocks, with a market value of 52,366.47 billion HKD, representing 13.61% of the total market value [1] - The highest shareholding ratio by southbound funds is in China Telecom, with 1,031.38 million shares held, accounting for 74.31% of the issued shares [1] Group 2 - Southbound funds with a shareholding ratio exceeding 20% are mainly concentrated in the healthcare, industrial, and financial sectors, with 42, 33, and 31 stocks respectively [2] - The top stocks with high southbound fund holdings include China Telecom, Green Power Environmental, and China Shenhua, with shareholding ratios of 74.31%, 69.72%, and 67.33% respectively [2][3] - A significant portion of the stocks with high southbound fund holdings are AH concept stocks, with 120 out of 214 stocks (56.07%) having a shareholding ratio over 20% being AH stocks [1]

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法律责任。 重要内容提示： 转债代码：113054 转债简称：绿动转债 ? 绿色动力环保集团股份有限公司（以下简称"公司"或"绿色动力"）控股股 东北京市国有资产经营有限责任公司（以下简称"北京国资公司"）拟将其持有 的公司股份139,345,273股（人民币普通股，占公司总股本的10.00%）无偿划转至 其全资子公司北京工业发展投资管理有限公司（以下简称"北工投资"）。划转 完成后，北京国资公司直接持有公司32.63%股权，通过全资子公司北工投资间接 持有公司10.00%股权，通过全资子公司北京国资（香港）有限公司（以下简称"北 京国资（香港）"）间接持有公司1.78%股权。 ? 本次权益变动不会导致公司的控股股东和实际控制人发生变化，公司控股股东 和实际控制人仍为北京国资公司。 一、本次无偿划转的基本情况 绿色动力环保集团股份有限公司 证券代码：601330 证券简称：绿色动力 公告编号：临 2025-036 公司于2025年7月14日获悉，北京国资公司出具《北京市国有资产经营有限责任公 ...

绿色动力环保集团股份有限公司 上市公司名称：绿色动力环保集团股份有限公司 股票上市地点：上海证券交易所 股票简称：绿色动力 股票代码：601330.SH 信息披露义务人：北京工业发展投资管理有限公司 注册地址：北京市东城区隆福寺街95号钱粮胡同38号2幢6层B601-1 通讯地址：北京市东城区隆福寺街95号隆福大厦A座六层 股份变动性质：股份增加（国有股权无偿划转） 签署日期：2025年7月 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定， 本报告书已全面披露了信息披露义务人在绿色动力环保集团股份有限公司中拥 有权益的股份变动情况。截至本报告书签署日，除本报告书披露的信息外，信 息披露义务人没有通过任何其他方式增加或减少在绿色动力环保集团股份有限 公司拥有权益的股份。 四、本次权益变动是根据本报告书所载明的资料进行的。除本报告书披露 的信息外，信息披露义务人没有委托或者授权任何其他人提供未在本报告书中 列载的信息和对本报告书做出任何解释或者说明。 五、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗 漏，并对其真实性、准确性和完整性承担个别和连带的法律责任。 六、本报告书部分数据计 ...

绿色动力环保集团股份有限公司 简式权益变动报告书 信息披露义务人：北京工业发展投资管理有限公司 注册地址：北京市东城区隆福寺街95号钱粮胡同38号2幢6层B601-1 通讯地址：北京市东城区隆福寺街95号隆福大厦A座六层 股份变动性质：股份增加（国有股权无偿划转） 签署日期：2025年7月 1 上市公司名称：绿色动力环保集团股份有限公司 股票上市地点：上海证券交易所 股票简称：绿色动力 股票代码：601330.SH 信息披露义务人声明 一、本报告书系依据《中华人民共和国证券法》《上市公司收购管理办法》 《公开发行证券的公司信息披露内容与格式准则第15号——权益变动报告书》 等相关法律、法规和规范性文件编制。 二、截至本报告书签署日，信息披露义务人签署本报告书已获得必要的授 权和批准，其履行亦不违反其章程或内部规则中的任何条款，或与之相冲突。 六、本报告书部分数据计算时需要四舍五入，故可能存在尾数差异，提请 投资者注意。 2 | 信息披露义务人声明 2 | | | --- | --- | | 目录 3 | | | 第一节 释义 | 4 | | 第二节 信息披露义务人介绍 5 | | | 一、信息披露义务人基本情 ...

| 证券代码：601330 | 证券简称：绿色动力 | 公告编号：临 2025-036 | | --- | --- | --- | | 转债代码：113054 | 转债简称：绿动转债 | | 绿色动力环保集团股份有限公司 1 关于控股股东拟无偿划转所持公司股份的提示性公告 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法律责任。 重要内容提示： 绿色动力环保集团股份有限公司（以下简称"公司"或"绿色动力"）控股股 东北京市国有资产经营有限责任公司（以下简称"北京国资公司"）拟将其持有 的公司股份139,345,273股（人民币普通股，占公司总股本的10.00%）无偿划转至 其全资子公司北京工业发展投资管理有限公司（以下简称"北工投资"）。划转 完成后，北京国资公司直接持有公司32.63%股权，通过全资子公司北工投资间接 持有公司10.00%股权，通过全资子公司北京国资（香港）有限公司（以下简称"北 京国资（香港）"）间接持有公司1.78%股权。 本次权益变动不会导致公司的控股股东和实际控制人发生变化，公司控股股东 和实际控制人仍为北京国 ...

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1]. Core Views - The report emphasizes the improvement in cash flow and dividend potential due to reduced capital expenditures in the waste management sector, alongside enhanced return on equity (ROE) through quality improvements in heating and IDC collaborations [1][11][15]. Summary by Sections Industry Trends - The environmental protection sector is experiencing a significant shift with a 9% increase in the sector's performance compared to the Shanghai and Shenzhen 300 indices [3]. - The report highlights a 73% increase in sales of new energy sanitation vehicles, with a penetration rate rising to 14.95% [25]. Key Recommendations - The report recommends several companies for investment, including Huaneng Environment, Green Power, and Yongxing Co., among others, due to their strong dividend potential and operational efficiency [5][11]. - It suggests focusing on companies like Yuehai Investment and Xingrong Environment for their robust cash flow and high dividend yields [17]. Policy Tracking - The Ministry of Ecology and Environment has issued a notice to enhance the quality of law enforcement, which is expected to improve operational efficiency and compliance in the industry [9][10]. - The report notes that the government is concentrating on environmental governance funding for 2025, which may positively impact the sector [7]. Financial Performance - The waste management sector is projected to see a significant increase in free cash flow, with dividends expected to rise as capital expenditures decrease [11][12]. - Specific companies are highlighted for their dividend growth, such as Junxin Co. with a 37% increase in cash dividends and Green Power with a 100% increase [12][13]. Market Dynamics - The report discusses the trend of garbage incineration and IDC collaborations as a new growth avenue, emphasizing the advantages of clean and efficient energy generation [14]. - The water utility sector is also highlighted for its stable growth and high dividends, with ongoing water price reforms expected to enhance profitability [15][17]. Sector Performance - The environmental protection and public utilities index rose by 2.69% during the week of July 7-11, 2025, outperforming the broader market indices [45].

Group 1 - The stock price of Green Power (601330) closed at 7.63 yuan as of July 11, 2025, reflecting a 1.33% increase from the previous week's closing price of 7.53 yuan [1] - The highest intraday price reached 7.76 yuan on July 8, 2025, while the lowest intraday price was 7.52 yuan on July 7, 2025 [1] - The current total market capitalization of Green Power is 10.632 billion yuan, ranking 18th out of 105 in the environmental governance sector and 1577th out of 5149 in the A-share market [1] Group 2 - Green Power submitted a securities change monthly report as of June 30, 2025, indicating no changes in the legal/registered share capital [2][3] - The number of H-shares and A-shares remains unchanged at 404,359,792 shares and 989,093,251 shares, respectively, with a par value of 1 yuan per share [2][3] - The total issued amount of the A-share convertible bonds is 2.359873 billion yuan, with no changes this month, and the conversion price is set at 9.35 yuan [2][3]

Group 1 - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 17.83%, with 213 stocks having a shareholding ratio exceeding 20% [1] - As of July 9, southbound funds held a total of 4,482.29 million shares, accounting for 17.83% of the total share capital of the stocks, with a total market value of 51,131.42 million HKD, representing 13.50% of the total market value [1] - The highest shareholding ratio by southbound funds is in China Telecom, with 103.31 million shares held, accounting for 74.43% of the issued shares [1] Group 2 - Southbound funds with a shareholding ratio exceeding 20% are mainly concentrated in the healthcare, industrial, and financial sectors, with 43, 32, and 31 stocks respectively [2] - The top stocks with high shareholding ratios include China Telecom (74.43%), Green Power Environmental (69.92%), and China Shenhua (67.37%) [2][3] - A significant portion of the stocks with high southbound fund holdings are AH concept stocks, with 119 out of 213 stocks (55.87%) having a shareholding ratio over 20% being AH stocks [1]

Summary of Key Points from the Conference Call Industry Overview - The waste incineration power generation industry is entering a mature phase, with significant reductions in capital expenditures and a focus on efficiency improvements to drive profit growth [1][3][5] - The industry has substantial growth potential, driven by cash flow improvements and declining capital expenditures, which enhance free cash flow and dividend capacity [2][18] Core Insights and Arguments - **Revenue Growth and Cost Reduction**: Companies have achieved revenue growth and cost reductions by enhancing heating and power generation efficiency. One ton of waste generates approximately two tons of steam, which corresponds to 200 kWh of electricity, with selling steam being more profitable than selling electricity [2][10][11] - **Resource Value Enhancement**: Waste is viewed as a valuable resource with significant potential for increased energy value through improved power generation and heating conversion ratios [3][4] - **Financial Performance**: Green Power's case study shows a 33% revenue growth in Q1 2025 without new capacity, driven by a doubling of heating volume and a decrease in financial costs [1][6] - **Financial Cost Reduction**: Financial costs are expected to decrease by approximately 30 million yuan in 2024 compared to 2023, with further reductions anticipated in 2025, bringing total financial costs close to 400 million yuan [8][18] Business Model Innovations - The business model innovation in waste power generation provides a significant cost advantage over natural gas heating, with waste disposal fees accounting for over 25% of revenue under the concession model [1][6] - The ToB heating revenue model allows for immediate cash recovery, significantly improving operating cash flow [6] Cash Flow and Profitability - The average collection rate for listed companies is around 50%, with a net present value ratio of 1.7, indicating substantial future cash flow gains as national subsidy collection rates improve [6][18] - The industry is expected to exhibit a dual resonance of growth and dividends, enhancing overall profitability [7] Future Development Prospects - The industry is poised for growth due to refined management practices and technological improvements, which will enhance competitiveness and profitability [14][18] - If the industry can achieve competitive power generation levels similar to Zhongke Environmental's 35%, it could lead to over 20% profit growth across the sector [14] Company-Specific Insights - Green Power's Q1 2025 performance included total revenue of 830 million yuan, a year-on-year increase of 23 million yuan, with electricity generation up 3% to 1.03 billion kWh and heating volume up 97% to 225,000 tons [6] - Other companies in the industry, such as Zhongke Environmental and Huanlan Environment, are also expanding their heating capacities significantly, indicating a trend towards increased efficiency and profitability [12][18] Conclusion - The waste incineration power generation sector is characterized by improving cash flows, declining costs, and innovative business models, positioning it for sustained growth and enhanced shareholder returns [5][18]

Core Viewpoint - As of July 8, 2025, Green Power (601330) closed at 7.69 yuan, experiencing a slight decline of 0.13% with a trading volume of 65,200 shares and a total transaction value of 50.1492 million yuan [1] Trading Information Summary - On July 8, 2025, the capital flow for Green Power indicated a net outflow of 318.92 thousand yuan from main funds, accounting for 6.36% of the total transaction value; meanwhile, speculative funds saw a net inflow of 298.07 thousand yuan, representing 5.94% of the total transaction value, and retail investors had a net inflow of 20.85 thousand yuan, which is 0.42% of the total transaction value [2][4] Company Announcement Summary - Green Power Environmental Group Co., Ltd. reported in its June 2025 securities change monthly report that the company's legal/registered capital has not changed, with H-shares and A-shares having 404,359,792 shares and 989,093,251 shares respectively, maintaining a total legal/registered capital of 1,393,453,043 yuan. The number of issued shares also remains unchanged, with no treasury shares [3] - The company has an A-share convertible bond, with a total issuance amount of 2,359,873,000 yuan as of the end of last month, with no changes this month. The conversion price is set at 9.35 yuan, and the conversion period is from September 5, 2022, to February 24, 2028 [3][4]