Group 1 - Haitong Development reported a net profit of 86.87 million yuan for the first half of 2025, a year-on-year decrease of 64.14% [1] - Haitong Development achieved an operating income of 1.8 billion yuan, a year-on-year increase of 6.74% [1] - Crystal Integrated expects a net profit increase of 39.04% to 108.55% for the first half of 2025, with projected revenue between 5.07 billion yuan and 5.32 billion yuan [1] Group 2 - Aerospace Universe anticipates a net profit increase of 50.59% for the first half of 2025, with a projected net profit of 34.38 million yuan [2] - Aerospace Universe's net profit excluding non-recurring gains is expected to grow by 94.90% [2] Group 3 - Guodian Power reported a total power generation of 206.03 billion kWh for the first half of 2025, a year-on-year decrease of 3.61% [3] - The company's market-based transaction electricity accounted for 91.84% of the total electricity sold [3] Group 4 - Shanghai Pharmaceuticals announced that its tranexamic acid injection has passed the consistency evaluation for generic drugs [5] - The drug is primarily used for treating various bleeding disorders [5] Group 5 - Sanyou Chemical received approval to issue up to 900 million yuan in technology innovation corporate bonds [7] - The bond issuance is valid for 24 months from the date of approval [7] Group 6 - Baiyuntian's BAT4406F injection drug has received approval for clinical trials for additional indications [9] - The drug is a next-generation fully human anti-CD20 antibody [9] Group 7 - Huason Pharmaceutical received three drug re-registration approval notices [10] - The approved drugs include Ganji Bingmei tablets and other formulations [10] Group 8 - Shanying International plans to establish the Zhiyuan Fund with a total scale of 100 million yuan [13] - The fund will primarily invest in product companies related to industrial scenarios [13] Group 9 - Yiqiu Resources announced the sale of two properties in Malaysia for a total of approximately 3.67 million yuan [15] - The sale is part of the company's asset management strategy [15] Group 10 - Guizhou Bailing plans to apply for loans totaling no more than 920 million yuan from multiple banks [16] - The loans will be used to replace maturing loans and supplement working capital [16] Group 11 - Samsung Medical's subsidiary won a transformer procurement contract in Brazil worth approximately 341 million yuan [16] - The contract is part of the company's expansion into international markets [16] Group 12 - Changying Tong expects a net profit increase of 72.12% to 110.33% for the first half of 2025 [17] - The projected revenue is between 173 million yuan and 211 million yuan [17] Group 13 - Canqin Technology anticipates a net profit increase of 50.14% to 61.85% for the first half of 2025 [17] - The expected revenue is between 286 million yuan and 290 million yuan [17] Group 14 - Daya Shengxiang signed a lease agreement with an annual rent of 17 million yuan for a production facility [18] - The lease term is for 3 years and 4 months, including a 4-month rent-free period [18] Group 15 - Zhongzai Zihuan announced the resignation of its general manager due to work adjustments [20] - The company will appoint an interim general manager while searching for a permanent replacement [20] Group 16 - Fuwei Co. received a project notification from a well-known luxury brand for seat development [22] - The total sales amount for the project is expected to reach 4.9 billion yuan [22] Group 17 - Meili Technology's application for convertible bonds has been accepted by the Shenzhen Stock Exchange [26] - The issuance is subject to further approval from regulatory authorities [26] Group 18 - Jinzhik Technology announced a stock suspension due to potential control changes [27] - The suspension is expected to last no more than two trading days [27] Group 19 - Zhongtian Technology plans to distribute a cash dividend of 3 yuan per 10 shares [28] - The dividend distribution date is set for July 25, 2025 [28] Group 20 - Huahai Chengke plans to distribute a cash dividend of 0.2002 yuan per share [30] - The dividend distribution date is set for July 29, 2025 [30] Group 21 - Dasheng Intelligent won a smart transportation project contract worth 122 million yuan [31] - The project involves comprehensive monitoring systems for urban rail transit [31] Group 22 - Dongyue Silicon reported a fire incident affecting production operations [32] - The fire has been controlled, but the extent of damage is still being assessed [32] Group 23 - Shaanxi Guotou A reported a net profit of 726 million yuan for the first half of 2025, a year-on-year increase of 5.74% [35] - The company's operating income decreased by 2.95% [35] Group 24 - Yibo Technology announced a plan to reduce shareholding by up to 3% [37] - The reduction is due to the shareholder's funding needs [37] Group 25 - Xiling Information announced a stock suspension due to potential control changes [39] - The suspension is expected to last no more than two trading days [39] Group 26 - Tianli Lithium Energy plans to reduce shareholding by 4.55% through block trading [40] - The reduction is due to the fund's operational timeline nearing its end [40] Group 27 - Sihui Fushi announced plans for a combined shareholding reduction of up to 3% [42] - The reduction is due to the shareholders' personal funding needs [42] Group 28 - Jinma Leisure announced a plan for a combined shareholding reduction of up to 4.83% [44] - The reduction is due to personal funding needs of the controlling shareholder and executives [44] Group 29 - *ST Zitian's stock may be terminated due to financial reporting issues [46] - The company is under regulatory scrutiny for failing to rectify its financial statements [46]

Group 1 - The resignation of Zhang Haihang as the company's director and general manager was submitted on July 18, 2025, due to work adjustments [1][2] - Zhang Haihang's resignation will not result in the board of directors falling below the legal minimum number of members, and he has completed the handover process according to company regulations [1] - The company board held a meeting on July 21, 2025, to appoint Vice General Manager Lv Jiebin to act as the general manager until a new general manager is appointed [2] Group 2 - Zhang Haihang served diligently during his tenure, and the company expressed gratitude for his contributions to its development [2]

证券代码：600217 证券简称：中再资环 公告编号：临 2025-045 注：公司第八届董事会任期已于 2025 年 6 月 22 日届满，换届工作尚在积极筹备中。 二、离任对公司的影响 根据《公司章程》的规定，张海航先生的上述书面辞呈于 2025 年 7 月 18 日生效。张海航先生的离任不会导致公司董事会成员低于 法定最低人数，其已按照公司相关规定完成了交接工作。 为保证公司工作的正常运行，公司董事会于 2025 年 7 月 21 日召 开第八届董事会第四十三次会议，审议通过了《关于公司副总经理代 行总经理职责的议案》，鉴于张海航先生已辞任公司总经理职务，经 公司董事长邢宏伟先生提议，在公司董事会聘任新的公司总经理前， 由公司副总经理吕洁冰先生代行公司总经理职责。 中再资源环境股份有限公司 关于公司董事、总经理离任的公告 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： 中再资源环境股份有限公司（以下称公司）董事会于 2025 年 7 月 18 日收到公司董事、 总经理张海航先生的辞职书，张海航先生因工作调 ...

证券代码：600217 证券简称：中再资环 编号：临 2025-046 鉴于张海航先生因工作调整原因不再担任公司总经理职务，为保 证公司工作的正常运行，经公司董事长邢宏伟先生提议，在董事会聘 任新的总经理之前,指定公司副总经理吕洁冰先生代行总经理职责。 公司董事会将按照《上海证券交易所股票上市规则》及公司章程的有 关规定尽快完成总经理的聘任工作。 本议案表决结果：同意 5 票，反对 0 票，弃权 0 票。 本议案的相关内容详见与本公告同日公司披露在上海证券交易 所网站及《中国证券报》《上海证券报》《证券日报》《证券时报》的 《中再资源环境股份有限公司关于公司董事、总经理离任的公告》。 特此公告。 中再资源环境股份有限公司 第八届董事会第四十三次会议决议公告 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法律责任。 中再资源环境股份有限公司（以下称公司）第八届董事会第四十 三次会议于 2025 年 7 月 21 日以专人送达方式召开。公司应参与表决 董事 5 人，实际参与表决董事 5 人。经与会董事审议，并以书面记名 投票方式表决，会议形 ...

·中再资源环境股份有限公司（以下称公司）使用 10,000 万元暂时闲置募 集资金进行现金管理已到期赎回，并收到理财收益 34.74 万元，本金及其收益已 归还至募集资金专户。 ·本次进行现金管理概况：使用暂时闲置的募集资金 10,000 万元购买了中 国光大银行保本浮动收益型产品 2025 年挂钩汇率对公结构性存款定制第七期产 品 283，期限 1 个月。 ·已履行的审议程序：公司第八届董事会第二十七次会议、第八届监事会第 十二次会议审议通过了《关于使用部分闲置募集资金进行现金管理的议案》，保 荐人就此事项发表了同意意见。 一、使用部分暂时闲置募集资金进行现金管理赎回情况 公司于 2025 年 5 月 14 日使用暂时闲置的部分募集资金 10,000 万元购买了中国光大银行北京太平路支行对公结构性存款，具体内容 详见公司于 2025 年 5 月 17 日在上海证券交易所网站及公司指定信息 披露媒体《中国证券报》《上海证券报》《证券时报》《证券日报》披 露的《中再资源环境股份有限公司关于使用暂时闲置募集资金进行现 金管理到期赎回并继续进行现金管理的公告》（公告编号：临 2025-029）。2025 年 7 月 ...

Group 1 - The company expects a net profit attributable to shareholders of the parent company for the first half of 2025 to be between -350 million yuan and -180 million yuan, indicating a loss compared to the same period last year [1][2] - The estimated net profit after deducting non-recurring gains and losses is projected to be between -360 million yuan and -190 million yuan [1][2] - In the same period last year, the total profit was 201.58 million yuan, and the net profit attributable to shareholders of the parent company was 156.09 million yuan [1][2] Group 2 - The main reason for the profit reduction is the significant decrease in subsidies for waste electrical and electronic products processing, with the Ministry of Finance announcing a budget of 5 billion yuan for 2025, down from previous years [2][3] - The company is expected to receive 501 million yuan from the budget, which will somewhat improve cash flow from operating activities [2][3] - The company plans to enhance its internal control mechanisms and optimize cost structures to improve operational efficiency and increase the value of dismantled waste electrical products [3]

[Zhongzai Resources Environment Co., Ltd. 2025 H1 Earnings Forecast](index=1&type=section&id=%E4%B8%AD%E5%86%8D%E8%B5%84%E6%BA%90%E7%8E%AF%E5%A2%83%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B82025%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A) [Current Period Earnings Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a net loss for H1 2025, with net profit attributable to shareholders projected between -350 million and -180 million RMB | Metric | Projected Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -350 million to -180 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | -360 million to -190 million | [Prior Year Period Performance Review](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) The company was profitable in H1 2024, with a net profit attributable to shareholders of 162.21 million RMB and an EPS of 0.1168 RMB | Metric | H1 2024 Amount (RMB) | | :--- | :--- | | Total Profit | 201.58 million | | Net Profit Attributable to Parent Company Shareholders | 162.21 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 156.09 million | | Earnings Per Share (EPS) | 0.1168 | [Analysis of Main Reasons for the Forecasted Loss](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%87%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The forecasted loss is mainly due to major adjustments in national subsidy policies for waste appliance disposal, leading to retroactive write-downs - A **significant reduction in national subsidies** for processing waste electrical and electronic equipment is the direct cause of the forecasted loss[5](index=5&type=chunk) - The company has adjusted its recognized subsidy income for FY2024 and H1 2025 based on the new policy, resulting in a corresponding **adjustment to accounts receivable** as of June 2025[5](index=5&type=chunk) [Other Explanations and Countermeasures](index=2&type=section&id=%E5%9B%9B%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The company expects to receive some funds under old and new subsidy schemes, improving cash flow, and is taking steps to enhance operational efficiency - The company expects to receive **RMB 501 million in subsidies** under the original fund system, and new 'reward-based subsidies' will be disbursed within the year, which will **improve operating cash flow**[6](index=6&type=chunk) - The company has pre-communicated the earnings forecast with its annual audit firm, and **no disagreements exist**[6](index=6&type=chunk) - To address policy changes, the company plans to **enhance internal controls, refine operations, optimize cost structures**, and increase the value of dismantled products to improve operational efficiency[7](index=7&type=chunk) [Risk Warning](index=3&type=section&id=%E4%BA%94%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company cautions that these forecast figures are preliminary and the final, accurate data will be in the official H1 2025 report - The data in this earnings forecast is preliminary; **final financial data will be subject to the officially disclosed semi-annual report**[8](index=8&type=chunk)

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]