Core Insights - The Chinese electrostatic precipitator (ESP) industry is currently undergoing a critical phase of technological upgrades and market structure optimization, with a projected market size of approximately 23.6 billion yuan in 2024, representing a year-on-year growth of 8.26% [1][6]. Industry Overview - Electrostatic precipitators are industrial devices that purify dust particles from gases using high-voltage electric fields, effectively capturing particles ranging from 0.01 to 50 micrometers [2][3]. - The industry is characterized by two main types of ESPs: plate-type and tubular-type, each with distinct structural forms, applicable scenarios, and performance characteristics [3]. Market Size - The market for electrostatic precipitators in China is expected to reach about 23.6 billion yuan in 2024, with an annual growth rate of 8.26% [1][6]. - Traditional ESPs have limited efficiency in capturing fine particulate matter, particularly PM2.5, prompting innovative solutions such as the use of dielectric materials with a textured structure and low-frequency bipolar power supplies [1][6]. Key Companies' Performance - Leading companies like Longking Environmental Protection and Fida Environmental Protection dominate the market, leveraging their full industry chain advantages to capture significant market shares in the power and steel sectors [7]. - Fida Environmental Protection reported a revenue of 2.544 billion yuan in the first three quarters of 2025, marking a 14.40% increase year-on-year, with a net profit of 204 million yuan, up 21.10% [7]. - Baoneng New Energy achieved a revenue of 6.754 billion yuan in the same period, reflecting a 10.61% growth, with a net profit of 821 million yuan, increasing by 38.62% [7]. Industry Development Trends 1. **Technological Innovation**: The industry is moving towards smart and low-carbon solutions, integrating IoT, big data, and AI for real-time monitoring and adaptive regulation, which reduces operational costs [8]. 2. **Expansion of Application Scenarios**: Non-electric industries such as steel, cement, and waste incineration are expected to drive demand growth for ESPs, supported by carbon control policies [8]. 3. **Global Market Expansion**: Chinese ESP companies are accelerating their global presence and standard output, with leading firms establishing projects in over 40 countries and contributing to international standards [9][10].

上市企业：龙净环保（600388）,清新环境（002573）,菲达环保（600526）,雪浪环境（300385）,中电环 保（300172）,永清环保（300187） 相关报告：智研咨询发布的《2025-2031年中国大气污染防治设备行业市场供需态势及投资潜力研判报 告》 根据国家统计局数据显示：2025年9月中国大气污染防治设备产量为3万台(套)，同比下降4.5%；2025年 1-9月中国大气污染防治设备累计产量为23.7万台(套)，累计下降18.7%。 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2020-2025年1-9月中国大气污染防治设备产量统计图 ...

Group 1 - The core point of the news is that Fida Environmental Protection's stock price dropped by 5.23% to 5.26 CNY per share, with a trading volume of 88.87 million CNY and a turnover rate of 1.89%, resulting in a total market capitalization of 4.675 billion CNY [1] - Fida Environmental Protection, established on April 30, 2000, and listed on July 22, 2002, specializes in the research, design, production, sales, and installation services of dust collectors, pneumatic conveying equipment, flue gas desulfurization equipment, and electrical control equipment, along with environmental project operations [1] - The company's main business revenue composition includes: dust collectors and supporting equipment (43.86%), wastewater treatment (23.25%), environmental operation (11.27%), flue gas desulfurization equipment (6.78%), installation services (6.69%), economizer equipment (4.54%), others (2.38%), pneumatic conveying equipment (0.56%), carbon footprint and smart environmental projects (0.43%), and waste incineration flue gas treatment equipment (0.24%) [1] Group 2 - From the perspective of fund holdings, one fund under Xinyuan Fund has a significant position in Fida Environmental Protection, with the Xinyuan Guozheng 2000 Index Enhanced A (018579) holding 332,400 shares, accounting for 0.78% of the fund's net value, ranking as the eighth largest holding [2] - The Xinyuan Guozheng 2000 Index Enhanced A fund was established on August 10, 2023, with a latest scale of 94.31 million CNY, achieving a year-to-date return of 33.26% and a one-year return of 27.9% [2] - The fund manager, Liu Yutao, has been in position for 3 years and 64 days, managing a total asset scale of 1.552 billion CNY, with the best fund return during his tenure being 38.06% and the worst being -4.24% [3]

Core Insights - The environmental equipment sector saw an increase of 0.97% on November 17, with *ST节能 leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance Summary - *ST节能 closed at 3.68, up 5.14% with a trading volume of 182,400 shares and a transaction value of 66.35 million [1] - 菲达环保 closed at 5.90, up 3.51% with a trading volume of 272,200 shares and a transaction value of 160 million [1] - 碧兴物联 closed at 24.97, up 3.40% with a trading volume of 16,700 shares and a transaction value of 40.93 million [1] - 久吾高科 closed at 30.91, up 2.83% with a trading volume of 44,300 shares and a transaction value of 136 million [1] - 青达环保 closed at 26.95, up 1.85% with a trading volume of 14,500 shares and a transaction value of 38.93 million [1] - 华宏科技 closed at 15.61, up 1.50% with a trading volume of 150,800 shares and a transaction value of 235 million [1] - 龙源技术 closed at 8.26, up 1.35% with a trading volume of 129,600 shares and a transaction value of 106 million [1] - 国林科技 closed at 16.46, up 1.23% with a trading volume of 56,300 shares and a transaction value of 92.62 million [1] - 龙净环保 closed at 16.10, up 1.13% with a trading volume of 147,700 shares and a transaction value of 236 million [1] - 楚杯科技 closed at 26.55, up 0.87% with a trading volume of 10,600 shares and a transaction value of 28.08 million [1] Fund Flow Analysis - The environmental equipment sector experienced a net outflow of 71.62 million from institutional investors, while retail investors saw a net inflow of 40.04 million [2] - 游资资金 (speculative funds) had a net inflow of 31.58 million [2] Individual Stock Fund Flow - 菲达环保 had a net inflow of 16.74 million from institutional investors, while retail investors experienced a net outflow of 18.48 million [3] - 盈峰环境 saw a net inflow of 9.32 million from institutional investors, but a net outflow of 9.28 million from speculative funds [3] - 美埃科技 had a net inflow of 2.81 million from institutional investors and a net inflow of 2.06 million from speculative funds [3] - 碧兴物联 experienced a net inflow of 2.50 million from institutional investors, but a net outflow of 6.58 million from retail investors [3] - 龙源技术 had a net inflow of 1.17 million from institutional investors, while retail investors saw a net outflow of 6.98 million [3]

Core Viewpoint - On November 17, a total of 17 listed companies will have their restricted shares unlocked, with a total market value of approximately 22.745 billion yuan [1] Summary by Category Restricted Shares Unlocking - The total number of restricted shares unlocking on this date is significant, with a total market value of about 22.745 billion yuan [1] - Specific companies and their respective unlocking details include: - Yingte Group (000411): 273,600 shares from equity incentive [1] - East China Pharmaceutical (000963): 1,630,300 shares from equity incentive [1] - Innovation New Materials (600361): 2.867 billion shares from other types [1] - Fida Environmental Protection (600526): 152 million shares with extended lock-up period [1] - New Mileage (002219): 8.7 million shares from equity incentive [1] - Anke Bio (300009): 12.3941 million shares from equity incentive [1] - Songcheng Performance (300144): 2.16 million shares from equity incentive [1] - Keheng Co., Ltd. (300340): 511,400 shares from equity incentive [1] - Haoxiangni (002582): 1 million shares from equity incentive [1] - Zhongzhi Technology (301361): 2.252 million shares from pre-issue [1] - Jack Co., Ltd. (603337): 2.4576 million shares from equity incentive [1] - Tian'ao Electronics (002935): 105,400 shares from equity incentive [1] - Huatuo Cable (605196): 556,000 shares from equity incentive [1] - Yongshuntai (001338): 266 million shares from pre-issue [1] - New World (301277): 149 million shares from pre-issue [1] - Yongxi Electronics (688362): 130 million shares [1] - Kangxi Communication (688653): 3.184 million shares [1]

Core Points - The announcement details the listing and circulation of restricted shares for Zhejiang Feida Environmental Technology Co., Ltd. as part of an asset purchase and fundraising transaction [1][5][12] Group 1: Share Issuance and Listing - The type of shares being listed is non-publicly issued shares, with a total of 152,317,067 shares set for circulation [2][3] - The listing date for these restricted shares is November 17, 2025 [4] - The shares were issued to purchase assets from Hangzhou Steel Group Co., Ltd. and to raise supporting funds, with the approval from the China Securities Regulatory Commission received on April 21, 2022 [6] Group 2: Shareholder Changes and Lock-up Period - Following the issuance, the total share capital of the company increased from 547,404,672 shares to 699,721,739 shares [10] - A significant transfer of shares occurred on November 24, 2023, when Hangzhou Steel Group transferred 33.01% of its shares to Zhejiang Provincial Environmental Group without compensation [7] - The lock-up period for the shares is set at 42 months due to a condition triggered by the stock price falling below the issuance price for 20 consecutive trading days [9] Group 3: Compliance and Commitments - All parties involved in the transaction have adhered to their commitments regarding share lock-up, and there are no outstanding issues affecting the listing of the restricted shares [12] - The independent financial advisor, CITIC Securities Co., Ltd., confirmed that the conditions for the release of restricted shares comply with relevant laws and regulations [14]

Core Points - The company, Fida Environmental Protection, announced the issuance of shares for asset acquisition and fundraising, along with related transactions [1] - The total number of shares for this non-public offering is 152,317,067 shares [1] - The shares will be available for trading starting from November 17, 2025 [1]

Group 1 - The company Fida Environmental announced that approximately 152 million restricted shares will be unlocked and listed for trading on November 17, 2025, accounting for 17.14% of the total share capital [1] - For the year 2024, the revenue composition of Fida Environmental is as follows: 77.03% from the environmental protection industry, 18.43% from wastewater treatment, 2.23% from construction services, 1.64% from other industries, and 0.67% from other businesses [1] - As of the report date, the market capitalization of Fida Environmental is 5.1 billion yuan [1]

中信证券股份有限公司 关于浙江菲达环保科技股份有限公司 发行股份购买资产并募集配套资金暨关联交易之发行股份购买资产 限售股上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"、"独立财务顾问"）作为浙 江菲达环保科技股份有限公司（以下简称"菲达环保"、"上市公司"或"公司"） 发行股份购买资产并募集配套资金暨关联交易独立财务顾问，根据《上市公司重 大资产重组管理办法》》《上市公司监管指引第 2 号——上市公司募集资金管理 和使用的监管要求（2022 年修订）》等法律法规的要求，对菲达环保发行股份购 买资产并募集配套资金暨关联交易之发行股份购买资产限售股上市流通情况进 行了核查，并出具核查意见如下： 一、本次限售股上市类型 （一）本次限售股类型 本次上市流通的限售股类型为菲达环保发行股份购买资产并募集配套资金 暨关联交易之发行股份购买资产部分的限售股份。 （二）核准情况 2022 年 4 月 21 日，菲达环保收到中国证券监督管理委员会核发的《关于 核准浙江菲达环保科技股份有限公司向杭州钢铁集团有限公司发行股份购买资 产并募集配套资金的批复》（证监许可〔2022〕810 号），核准公司向杭州钢铁集 团 ...

证券代码：600526 证券简称：菲达环保 公告编号：2025-060 浙江菲达环保科技股份有限公司 关于发行股份购买资产并募集配套资金暨关联交易 之发行股份购买资产限售股上市流通公告 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、准确性和完整性依法承担法律责任。 一、本次限售股上市类型 （一）本次上市流通的限售股类型为浙江菲达环保科技股份有限公司（以下简 称公司或菲达环保）发行股份购买资产并募集配套资金暨关联交易之发行股份购买 资产部分的限售股份。 （二）核准情况 2022 年 4 月 21 日，菲达环保收到中国证券监督管理委员会核发的《关于核准 浙江菲达环保科技股份有限公司向杭州钢铁集团有限公司发行股份购买资产并募集 配套资金的批复》(证监许可〔2022〕810 号），核准公司向杭州钢铁集团有限公司 （以下简称杭钢集团）发行 152,317,067 股股份购买相关资产，核准公司发行股份募 集配套资金不超过 821,759,600 元。 （三）股份登记情况 2022 年 5 月 17 日，中国证券登记结算有限责任公司上海分公司出具《证券变 更登记证明》 ...