龙净环保（600388）公告，公司拟以自有资金出资7507.5万元，通过受让浙江吉泰智能科技有限公司部 分原股东股权并同时对标的公司增资的方式，取得吉泰智能20%的股份。公司已于2025年5月29日召开 2025年第二次投资与决策委员会，审议通过了《关于投资吉泰智能的议案》，并授权公司经营层在投资 概算范围内决策后续具体事项。本次投资有助于公司充分利用自身在环保、新能源产业链中的资源优 势，迅速拓展电厂核心设备智能运维市场、加快传统环保装备智能化升级以及开拓智慧矿山应用场景， 培育业务新的增长点。 ...

Core Viewpoint - The separation machinery industry in China is experiencing rapid growth driven by industrial intelligence transformation and increasing environmental standards, with significant export growth projected in the coming years [1][15]. Industry Overview - Separation machinery refers to equipment used to separate materials based on different physical and chemical properties, including filters, centrifuges, and separators [3]. - The industry has evolved since the 1950s, transitioning from imitation and introduction to innovation and diversification, now ranking among the world's leaders in technology and market scale [4]. Market Growth - China's separation machinery exports are projected to grow from 554,300 tons in 2020 to 787,100 tons by 2024, with a compound annual growth rate (CAGR) of 9.16%. Export value is expected to rise from $5.275 billion to $7.489 billion in the same period [1][15]. - In Q1 2025, the export volume reached 194,100 tons, generating $1.643 billion [1]. Industry Chain - The upstream of the separation machinery industry includes raw materials like steel, polypropylene, and various manufacturing components. The midstream involves the production of separation machinery, while the downstream encompasses applications in sectors such as chemicals, pharmaceuticals, and environmental protection [7]. Key Market Drivers - The petrochemical industry is the largest source of demand for separation machinery, accounting for approximately 30% of the market. The industry's focus on high-quality development and innovation is expected to drive demand for advanced separation products [10]. - The overall revenue of China's petrochemical industry is projected to reach 16.28 trillion yuan in 2024, reflecting a 2.1% year-on-year growth [10]. Competitive Landscape - The separation machinery industry in China features a multi-tiered competitive structure, with leading companies like Longjing Environmental Protection and Jingjin Equipment dominating the market due to their technological advantages [17][18]. - Longjing Environmental Protection is recognized as a leader in air pollution control equipment, while Jingjin Equipment specializes in filtration and separation technologies [20][22]. Future Trends - The industry is expected to focus on high parameters, energy efficiency, and multifunctionality, driven by the dual carbon goals and the need for sustainable manufacturing [24][25]. - The integration of artificial intelligence and IoT technologies is anticipated to enhance the smart capabilities of separation machinery, improving operational efficiency and reducing manual intervention [26][27]. - The adoption of new materials will likely improve the performance and durability of separation equipment, catering to diverse industrial needs [28].

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： 每股分配比例 A 股每股现金红利0.28元（含税）。 证券代码：600388 证券简称：龙净环保 公告编号：2025-039 福建龙净环保股份有限公司 2024年年度权益分派实施公告 二、分配方案 1、发放年度：2024年年度 2、分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3、分配方案： 本次利润分配以方案实施前的公司总股本1,270,046,293股为基数，每股派发现 金红利0.28元（含税），共计派发现金红利355,612,962.04元（含税），占本年度归 属于上市公司股东净利润的比例为 42.82%。公司本年度不向股东送红股，也不实 施资本公积金转增股本。 三、相关日期 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | ...

一、说明会类型 证券代码：600388 证券简称：龙净环保 公告编号：2025-038 福建龙净环保股份有限公司 关于召开 2024 年度及 2025 年第一季度业绩说明会暨 投资者集体接待日活动的公告 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。 重点内容提示： 会议召开时间：2025年5月14日（星期三）下午15:30—17：00 会议召开方式：网络在线交流 会议参与方式：全景∙路演网站（http://rs.p5w.net），或关注微信公众号： 全景财经，或下载全景路演 APP，参与本次互动交流。 福建龙净环保股份有限公司（以下简称"公司"）已分别于2025年3月22日和 4月12日发布2024年年度报告和2025年第一季度报告，为进一步加强与投资者的 互动交流，公司将参加由福建证监局指导，福建省上市公司协会主办与深圳市全 景网络有限公司联合举办的"2025年福建辖区上市公司投资者网上集体接待日活 动"现将相关事项公告如下： 董 事 会 本次活动将采用网络远程的方式举行，公司将在线就 2024 年度及 2025 年第 一 ...

Summary of Key Points Core Viewpoint - In the recent five trading days (April 24 to April 30), significant shareholders of 17 companies increased their holdings, totaling 55.21 million shares and an investment of 474 million yuan, while 49 companies saw a reduction in holdings amounting to 4.909 billion yuan [1]. Group 1: Shareholder Activity - A total of 17 companies experienced significant shareholder increases, with a cumulative increase of 55.21 million shares and an investment of 474 million yuan [1]. - Among the companies with notable increases, Debon Holdings led with an increase of 9.5563 million shares and an investment of 13.132 million yuan, followed by China Aluminum with 17.3 million shares and 11.1 million yuan [1][2]. - The majority of the increased holdings were concentrated in the transportation and non-ferrous metals sectors, with 4 and 2 companies respectively [1]. Group 2: Market Performance - The average performance of stocks with increased holdings saw a decline of 0.71% over the five days, underperforming the Shanghai Composite Index during the same period [1]. - Notable gainers included Tongkun Co., with a rise of 3.13%, and Kangxin Materials, which increased by 2.02% [1][2]. - Conversely, stocks like Beibu Gulf Port and Debon Holdings experienced significant declines of 6.73% and 5.82% respectively [1][2]. Group 3: Fund Flow - Among the stocks with increased holdings, 9 experienced net inflows of main funds, with Renfu Pharmaceutical seeing the highest net inflow of 5.8 million yuan [2]. - In contrast, Beibu Gulf Port and Qiyi Er experienced the largest net outflows, with 205 million yuan and 61 million yuan respectively [2].

本次权益变动不会导致公司控股股东及实际控制人发生变化。本次股份 增持不触及要约收购。 证券代码：600388 证券简称：龙净环保 公告编号：2025-037 福建龙净环保股份有限公司 关于持股 5%以上股东及其一致行动人权益变动触及 1%整数倍的提示性公告 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。 重点内容提示： 福建龙净环保股份有限公司（以下简称"公司"）持股5%以上股东龙岩 市国有资产投资经营有限公司（以下简称"龙岩国投"）的一致行动人龙岩市华 盛企业投资有限公司（以下简称"华盛投资"）通过二级市场集中竞价方式自2025 年3月27日至2025年4月30日期间，累计增持公司股份1,232,300股，占公司总股本 （1,270,046,293股）的0.0970%，增持后龙岩国投及华盛投资合计持股数量为 101,603,638股，占公司总股本的8%。 一、权益变动情况概述 （二）本次权益变动前后，龙岩国投及华盛投资持有公司股份的情况 | 信息披露义 务人名称 | 股份性质 | 本次权益变动前 | | 本次权益变动后 | ...

Investment Rating - The industry investment rating is "Positive" and is maintained [11]. Core Insights - The environmental sector's public fund holdings have slightly decreased, with a current allocation ratio of 0.23%, down by 0.02 percentage points from the previous quarter [6][18]. - The environmental industry is currently in a low allocation state, with a benchmark ratio of 1.04% [6][18]. - The report highlights a market shift towards high-performing stocks, particularly in waste incineration, which are favored by public funds due to their stable growth and strong performance [8][35]. Summary by Sections Fund Holdings Overview - As of Q1 2025, the total market value of the top ten holdings in the environmental sector is approximately 7.108 billion yuan, accounting for 0.23% of all disclosed fund products [2][6]. - A total of 316 fund products are heavily invested in 152 environmental companies, representing 4.18% of all disclosed fund products [6][18]. Key Companies and Performance - The leading companies by heavy fund holdings include: - Weiming Environmental: 1.313 billion yuan - Huace Testing: 1.015 billion yuan - Hanlan Environment: 950 million yuan - Longjing Environmental: 813 million yuan - Juguang Technology: 749 million yuan - Xingrong Environment: 456 million yuan [7][28]. - The companies with the highest proportion of fund holdings relative to their total market value include Juguang Technology (10.1%), Dadi Ocean (8.0%), Longjing Environmental (5.1%), Hanlan Environment (4.9%), and Huace Testing (4.7%) [30]. Investment Strategy - The report suggests a moderately optimistic outlook for 2025, particularly for waste incineration and water assets, emphasizing the importance of companies like Hanlan Environment, Xingrong Environment, Weiming Environmental, and others [8][35][36]. - The report identifies multiple catalysts for growth, including advancements in waste management, testing services, and renewable resources, recommending a focus on companies like Guodian Measurement and Zhuoyue New Energy [9][38][39].

Group 1: Transformation and Upgrading - Longjin Environmental Protection is actively transforming by leveraging its core strengths in environmental equipment while expanding into the renewable energy sector, aiming to create a "second growth curve" through various initiatives such as mining solar energy and energy storage systems [1][13][23] - Longgong Group focuses on "green, intelligent, and high-end" development, achieving record monthly sales of electric loaders and forklifts, which accounted for 77.6% of total revenue last year [2][4][17] - Longyan Kaolin achieved a 10.5% increase in net profit despite only a 2% revenue growth, driven by the development of comprehensive utilization technologies for kaolin tailings and porcelain stone [5][19] Group 2: Cost Control and Efficiency Improvement - Longyan Kaolin has implemented a strict procurement system and monthly production planning to optimize costs and improve efficiency, resulting in a reduction of total inventory from 2.877 billion to 2.287 billion [10][12][24] - Longjin Environmental Protection managed to achieve a 63.15% increase in net profit despite a 12.75% decline in revenue from environmental equipment manufacturing, showcasing effective cost control and resource reallocation [13][24] - Longgong Group reported a 57.80% increase in net profit while revenue decreased by 2.94%, indicating successful cost control measures and improved operational quality [12][33] Group 3: Market Expansion - Zijin Mining achieved a 52% increase in net profit last year and a 62% increase in the first quarter of this year, supported by its extensive overseas operations in 16 countries and 17 provinces in China [6][16][28] - Longgong Group's export sales increased by 3.76% to 3.19 billion, highlighting successful market expansion despite domestic sales challenges [17][29] - Longjin Environmental Protection has expanded its engineering projects to over 50 countries, focusing on industrialization processes in ASEAN and Belt and Road countries to drive new business growth [18][30]

Core Viewpoint - Longking Environmental Protection (龙净环保) reported a decline in revenue and net profit for Q1 2025, primarily due to reduced acceptance and settlement of traditional EPC projects, alongside a significant increase in accounts receivable [2][6]. Financial Performance - In Q1 2025, the company achieved revenue of 1.966 billion yuan, a year-on-year decrease of 13.69%, and a net profit of 185 million yuan, down 6.95% [2][6]. - For the year 2023, revenue was 10.973 billion yuan, a decline of 7.64%, with net profit at 509 million yuan, down 36.74% [4]. - In 2024, revenue was 10.019 billion yuan, a decrease of 8.69%, while net profit increased by 63.15% to 830 million yuan [4]. Accounts Receivable - Accounts receivable have been on the rise, reaching 3.609 billion yuan by the end of Q1 2025, up 5.22% from the end of 2024 [7][8]. - The increase in accounts receivable is attributed to the nature of project revenue recognition and extended payment terms associated with contracts [7][8]. Business Segments - The company’s main business includes air pollution control, energy storage, wind and solar power, water pollution control, carbon capture, hazardous waste disposal, and ecological restoration [3]. - In 2024, the revenue from the environmental equipment manufacturing segment was 8.576 billion yuan, down 12.75%, while the new energy business saw a significant increase of 1072.71% to 430 million yuan [4][5]. Market Conditions - The company faces significant market pressure in traditional environmental protection businesses due to increasing competition and market saturation [5][6]. - Despite the growth in the new energy sector, it has not yet compensated for the decline in traditional business revenues [5].

Core Viewpoint - The company reported a decline in revenue and net profit for Q1 2025, influenced by the timing of environmental engineering contract confirmations, despite an increase in new orders and a rise in gross margin [1][2]. Financial Performance - In Q1 2025, the company achieved revenue of 1.966 billion yuan, a year-on-year decrease of 13.69% - The net profit attributable to shareholders was 185 million yuan, down 6.95% year-on-year - The net profit excluding non-recurring items was 172 million yuan, showing a slight increase of 0.5% year-on-year - The weighted average ROE decreased by 0.74 percentage points to 1.8% [1][2]. Order and Contract Status - The company secured new environmental engineering contracts worth 2.625 billion yuan in Q1 2025, representing a year-on-year growth of 13.59% - As of March 31, 2025, the total backlog of environmental engineering contracts stood at 19.421 billion yuan, up from 18.739 billion yuan at the end of 2024 [1][2]. Cost Management - The gross margin for Q1 2025 was 25.49%, an increase of 3.22 percentage points year-on-year - Period expenses decreased by 3.25% to 281 million yuan, with a period expense ratio rising by 1.54 percentage points to 14.3% - Specific changes in expenses included a 7.51% decrease in sales expenses, a 1.02% increase in management expenses, a 13.92% increase in R&D expenses, and a 55.82% decrease in financial expenses [2]. Cash Flow and Investment - The net cash flow from operating activities was -137 million yuan, compared to 36 million yuan in the same period of 2024 - The net cash flow from investing activities was -214 million yuan, an improvement from -879 million yuan in 2024 - The net cash flow from financing activities was 137 million yuan, down from 747 million yuan in 2024 [2]. Business Expansion - The company is accelerating the construction and operation of green mining projects, with significant projects completed in Tibet, Xinjiang, Serbia, and Guyana - As of December 31, 2024, the total installed capacity of the company's projects exceeded 1 GW [2][3]. - The energy storage business is also progressing, with contracts for energy storage systems and equipment sales amounting to 1.361 billion yuan as of March 31, 2025 [3]. Profit Forecast - The company maintains its profit forecast for 2025-2027, estimating net profits of 1.23 billion yuan, 1.53 billion yuan, and 1.75 billion yuan respectively - The projected price-to-earnings ratios for 2025-2027 are 12x, 10x, and 8x [3].