Summary of Key Points Core Viewpoint - The recent announcements from Zhongzai Environmental highlight significant government subsidies that will positively impact the company's financial performance in 2025 [1]. Company Announcements - Zhongzai Environmental's wholly-owned subsidiary, Zhongzai Sheng (Huanggang) Resource Recycling Co., received a government subsidy of 14.03 million yuan, which accounts for 62.43% of the company's audited net profit attributable to shareholders for the year 2024 [1]. - The Ministry of Finance has allocated a special fund of 5 billion yuan for the treatment of waste electrical and electronic products in 2025, with 501 million yuan designated for the company's 11 waste appliance processing enterprises [1].

Investment Rating - The investment rating for the industry is "Increase" which indicates a relative increase of more than 15% compared to the CSI 300 index [28] Core Insights - The Central Financial Committee's sixth meeting emphasized the high-quality development of the marine economy and the exploration of marine carbon sink accounting [8] - The first international standard for algal carbon footprint has been officially released, marking a breakthrough in carbon footprint standards [8] - The national carbon market is expanding beyond the power sector, increasing the demand for CCER (Voluntary Carbon Emission Reduction) [9] - New methodologies for CCER are expected to accelerate expansion, including projects related to low-concentration gas utilization in coal mines and energy-saving in highway tunnel lighting [10] Summary by Sections Weekly Investment Perspective - The meeting highlighted the need for top-level design in marine economic development and encouraged social capital participation [8] - The national carbon market will include cement, steel, and electrolytic aluminum industries, with a target to cover 7.5 billion tons of greenhouse gas emissions by 2027 [9] Environmental Sector Performance - The environmental sector saw a weekly increase of 0.81%, with notable stock performances including Xuedilong (+31.74%) and Sandetech (+26.25%) [13][16] - The weekly trading volume for national carbon market emissions was 2.47 million tons, with an average price of 72.64 yuan/ton, reflecting a 62% decrease from the previous week [14] Carbon Neutrality Tracking - The CCER trading volume reached 103,000 tons with an average price of 87.04 yuan/ton [14] - The Shanghai pilot carbon market achieved 100% compliance for twelve consecutive years, with a significant increase in green electricity consumption [18] Investment Recommendations - Recommendations include leading waste incineration companies such as Sanfeng Environment and Huanlan Environment, as well as companies in the recycling sector like Zhuoyue New Energy and Sanlian Hongpu [11]

Group 1 - The Ministry of Finance has allocated a special fund of 5 billion yuan for the treatment of waste electrical and electronic products in 2025, with 2.3 billion yuan for previously unallocated subsidies and 2.7 billion yuan to support industry development through a reward-and-subsidy approach [2] - Among the allocated funds, 501 million yuan is designated for the 11 waste electrical appliance processing companies under the company [2] - The company reported a revenue of 4.024 billion yuan in 2024, an increase of 8.75% year-on-year, but a net profit decline of 75.62% to 16 million yuan [4] Group 2 - In the first quarter of 2025, the company achieved a revenue growth of 46.24% to 755 million yuan, but reported a net loss of 2.0462 million yuan [5] - The 2024 special fund budget for waste electrical and electronic product treatment is set at 7.5 billion yuan, with the company’s 11 processing plants expected to receive 1.685 billion yuan, accounting for 22.47% of the total [3]

证券代码：600217 证券简称：中再资环 公告编号：临 2025-042 中再资源环境股份有限公司 关于财政部下达 2025 年废弃电器电子产品处理专项 资金预算相关情况的公告 公 司 指 定 信 息 披 露 网 站 、 媒 体 为 上 海 证 券 交 易 所 网 站 （https://www.sse.com.cn）及《中国证券报》《上海证券报》《证券 日报》《证券时报》，有关公司信息以公司在上述指定网站、媒体刊登 的公告为准。敬请广大投资者理性投资，注意投资风险。 特此公告。 中再资源环境股份有限公司董事会 2025 年 7 月 10 日 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。 近日，中再资源环境股份有限公司（以下称公司）从财政部网站 获悉，财政部印发了《财政部关于下达 2025 年废弃电器电子产品处 理专项资金预算的通知》（财资环〔2025〕59 号）（以下称《通知》）。 该《通知》下达了 2025 年废弃电器电子产品（以下称废家电）处理 专项资金 50 亿元，其中，用于发放原废家电处理基金制度时尚未补 贴的资金 ...

证券代码：600217 证券简称：中再资环 公告编号：临 2025-041 中再资源环境股份有限公司 关于收到政府补助的公告 2025 年 6 月份，中再资源环境股份有限公司（以下称公司）全 资子公司中再生（黄冈）资源循环有限公司收到政府补助 1,403 万元， 为与收益相关的政府补助，占公司 2024 年度经审计的归属于上市公 司股东的净利润的 62.43%。 二、政府补助的类型及对上市公司的影响 公司根据《企业会计准则第 16 号--政府补助》的有关规定确认 上述事项，并划分补助类型。上述与收益相关的补助计入 2025 年当 期损益（其他收益）。 本次公告的政府补助会对公司 2025 年利润产生一定影响,以上 数据未经审计，具体的会计处理仍须以会计师年度审计确认后的结果 为准，敬请广大投资者注意投资风险。 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。 一、获得政府补助的基本情况 中再资源环境股份有限公司董事会 1 特此公告。 2025 年 7 月 8 日 ...

Group 1 - The company held its 2024 annual shareholders' meeting on June 27, 2025, as decided by the board of directors [2][3] - The meeting was legally convened and announced through various media, including the Shanghai Stock Exchange [3][4] - A total of 7 representatives attended the meeting, representing 10 shareholders with voting rights amounting to 731,551,405 shares, which is 44.1317% of the total shares [4][5] Group 2 - The meeting included various agenda items, such as the 2024 Board of Directors' work report, the 2024 Supervisory Board's work report, and the 2024 financial settlement report [6][7][8] - The voting process combined both on-site and online voting, with results being verified by the Shanghai Stock Exchange [10][22] - All proposed resolutions were approved with significant majority votes, including the 2024 profit distribution plan and the 2025 budget proposal [11][12][13][14][15][16][18][19][20][21]

Meeting Details - The shareholders' meeting was held on June 27, 2025, at the Global Financial Center in Beijing [1] - The attendance rate of shareholders was 44.7165% [1] - The meeting was presided over by Mr. Zhang Haihang, a director elected by the attendees [1] Voting Results - All proposed resolutions were passed with significant majority votes, with A-shareholders voting as follows: - Resolution 1: 738,399,146 votes in favor (99.6160%) [1] - Resolution 2: 738,003,690 votes in favor (99.5626%) [1] - Resolution 3: 738,017,790 votes in favor (99.6073%) [1] - Resolution 4: 738,334,883 votes in favor (99.6073%) [1] - The voting method combined on-site and online voting, complying with legal regulations [1] Related Party Transactions - Certain resolutions (9, 10, 11) involved related party transactions, and relevant parties abstained from voting [4] - The related parties included China Recycled Resources Development Group Co., Ltd. and others [4] Legal Compliance - The meeting's procedures, attendance, and voting were confirmed to comply with legal and regulatory requirements by the witnessing lawyers [4]

证券代码：600217 证券简称：中再资环 公告编号：临 2025-040 中再资源环境股份有限公司 2024年年度股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 6 月 27 日 (二)股东大会召开的地点：北京市西城区宣武门外大街甲 1 号环球财讯中心 B 座 公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 347 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 741,245,259 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 44.7165 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，会议由与会董事共同推举的董事张海航先 生主持，会议采取现场投票表决和网络投票相结合的表 ...

北京市朝阳区建国路 79 号华贸中心 2 号写字楼 28 层(邮编 100025) 电话：(86-10) 8567 3688 传真：(86-10) 6440 2915 网址：www.zhonglunwende.com 北京市中伦文德律师事务所 关于中再资源环境股份有限公司 2024 年年度股东大会的法律意见书 致：中再资源环境股份有限公司 北京市中伦文德律师事务所（以下简称"本所"）接受中再资源环境股份有限公 司（以下简称"中再资环"或"公司"）委托，委派本所律师出席公司 2024 年年度股东 大会（以下简称"本次股东大会"），并根据《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》《上市公司股东会规则》（以下简称"《股东 会规则》"）等现行法律、法规、规范性文件和《中再资源环境股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，对本次股东大会的召集、召开程序、出 席会议人员的资格、召集人资格、表决程序、表决结果出具法律意见书。 为出具本法律意见书，本所律师审查了公司本次股东大会的有关文件和材料， 并对有关问题进行了必要的核查和验证。对参加现场会议的股东/股东代理人的身份 和 ...

Group 1 - The A-share non-ferrous metal sector opened with significant gains, leading the market [1] - Electrical alloy stocks surged over 7%, indicating strong investor interest [1] - Companies such as Zhongfu Industrial and Northern Copper experienced increases of over 5% [1] - Other companies like Innovation New Materials and Tianshan Aluminum also saw upward movement [1]