证券代码：600874 证券简称：创业环保 公告编号：临2026-003 债券代码：243568 债券简称：GK津创01 天津创业环保集团股份有限公司 关于变更保荐代表人的公告 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。 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）于近日收到中信证券股份有限公司（以 下简称"中信证券"）出具的《关于变更天津创业环保集团股份有限公司2021年非公开发行股票并上市持 续督导项目保荐代表人的函》，具体情况如下： 特此公告。 天津创业环保集团股份有限公司 董事会 2026年2月5日 1、保荐代表人凌陶简历 凌陶先生，保荐代表人，硕士研究生学历。曾负责或参与的项目主要有：誉帆科技A股IPO项目、钱江 水利、凯盛科技、创业环保、凯盛新能、宜宾纸业、岳阳林纸、三峡水利等A股定向增发项目，冠豪高 新、中国电建、中绿电等A股重大资产重组项目。 2、保荐代表人林伟简历 中信证券作为公司2021年非公开发行股票并上市持续督导项目的保荐人，原指派马滨先生、葛馨先生担 任保荐代表人负责保荐工作及持续 ...

（文章来源：证券日报） 证券日报网讯 2月5日，创业环保发布公告称，中信证券指派凌陶、林伟接替马滨、葛馨，担任公司 2021年非公开发行股票持续督导保荐代表人。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 天津創業環保集團股份有限公司 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01065 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 340,000,000 | RMB | | 1 RMB | | 340,000,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 340,000,000 | RMB | | 1 RMB | | 340,000,000 | | 2. 股份分類 | 普通股 | 股份類別 | A ...

证券代码：600874 证券简称：创业环保 公告编号：临 2026-003 债券代码：243568 债券简称：GK 津创 01 天津创业环保集团股份有限公司 关于变更保荐代表人的公告 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。 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）于近 日收到中信证券股份有限公司（以下简称"中信证券"）出具的《关于变更天津 创业环保集团股份有限公司 2021 年非公开发行股票并上市持续督导项目保荐代 表人的函》，具体情况如下： 中信证券作为公司 2021 年非公开发行股票并上市持续督导项目的保荐人， 原指派马滨先生、葛馨先生担任保荐代表人负责保荐工作及持续督导工作。现原 保荐代表人葛馨先生因个人原因离职、马滨先生存在工作安排变动，中信证券现 指派凌陶先生、林伟先生接替原保荐代表人担任公司 2021 年非公开发行股票并 上市持续督导项目的保荐代表人，继续履行相关职责。凌陶先生、林伟先生的简 历详见附件。 本次保荐代表人更换后，公司持续督导保荐代表人为凌陶先生和林伟先生， 持续督导期至中 ...

证券代码：600874 证券简称：创业环保 公告编号：临2026-002 债券代码：243568 债券简称：GK津创01 天津创业环保集团股份有限公司 关于为瓮安创环水务有限公司提供担保的公告 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： ● 担保对象及基本情况 （一）担保的基本情况 2026年1月23日，公司第十届董事会第二次会议审议通过了《关于对瓮安创环水务有限公司贷款提供担 保的议案》，公司董事会全票同意为瓮安公司提供担保。上述事项在董事会审议权限范围内，无需提交 公司股东会审议。 二、被担保人基本情况 ■ 三、本次担保的主要内容 1、担保金额：不超过人民币12,010万元以及利息、罚息、违约金及其他一切有关费用。 2、担保期限：贷款期限20年，保证期间为主合同项下债务履行期限届满之日起1年。 3、担保方式：本公司为瓮安公司不超过12,382万元项目贷款按照股权比例97%提供保证担保，瓮安公 司以不低于担保金额对应的项目运营期的收益权及应收账款向集团公司提供反担保。 四、担保的必要性和合理性 天津创业环 ...

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： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 12010 | 瓮安创环水务有限公司 万元 | | | --- | --- | --- | --- | --- | --- | | 担 象 | 保 对 | 实际为其提供的担保余额 | 7834.69 | 万元 | | | | | 是否在前期预计额度内 | 是 | 否 | □不适用：_________ | | | | 本次担保是否有反担保 | 是 | □否 | □不适用：_________ | 累计担保情况 | 证券代码：600874 | 证券简称：创业环保 | | | 公告编号：临 2026-002 | | --- | --- | --- | --- | --- | | 债券代码：243568 | | | | | | | 债券简称：GK | 津创 | 01 | | 天津创业环保集团股份有限公司 关于为瓮安创环水务有限公司提供担保的公告 | 对外担保逾期的累计金额（万元） | 0 | | --- ...

Investment Rating - The report maintains a "Buy" rating for several companies in the environmental sector, including Huanlan Environment, Sanfeng Environment, and others, indicating a positive outlook for their stock performance [5]. Core Insights - The environmental industry is entering a critical phase of carbon reduction, with a focus on recycling and waste incineration. The demand for green energy and recycling industries is expected to rise significantly as China transitions to a dual control system for carbon emissions starting in 2026 [4][17]. - The introduction of the EU carbon tariff in 2026 is anticipated to increase the cost of exports from China, prompting companies to adopt greener practices to mitigate carbon emissions [4][17]. - High dividend assets in the environmental sector are expected to remain attractive in 2026, with companies like Guangda Environment and Huanlan Environment showing significant stock price increases in 2025 [4][5]. - The bio-diesel sector is experiencing a rise in UCO prices, which are expected to benefit companies involved in waste oil processing and bio-fuel production [19][25]. Summary by Sections Section 1: Market Performance - The environmental sector has shown strong performance in 2026, with water treatment, energy-saving, and recycling sectors leading the gains. Companies are diversifying into secondary businesses to enhance growth [11][14]. Section 2: Policy and Regulatory Developments - The report highlights the implementation of the "Solid Waste Comprehensive Governance Action Plan" aimed at reducing industrial solid waste and enhancing recycling efforts [33]. - The introduction of the carbon trading market and the EU carbon tariff are significant regulatory changes that will impact the industry [17][31]. Section 3: Company Performance and Recommendations - Key companies recommended for investment include Huanlan Environment, Shanghai Industrial Holdings, and others, which are expected to benefit from favorable market conditions and policy support [4][5]. - The report notes that the environmental sector's valuation is currently at a historical low, suggesting potential for future growth [45][52]. Section 4: Financial Analysis - The financial metrics for key companies indicate a positive outlook, with projected earnings per share (EPS) and price-to-earnings (PE) ratios suggesting undervaluation relative to historical performance [5]. Section 5: Market Trends - The report tracks the performance of various sub-sectors within the environmental industry, noting that energy-saving manufacturing and recycling have shown the most significant growth [49]. Section 6: Export and Pricing Trends - UCO prices have remained strong, with recent data showing a 6.1% increase compared to early 2025, indicating robust demand for bio-diesel feedstock [19][23]. Section 7: Carbon Market Activity - The carbon market has seen significant trading volumes, with recent data indicating a closing price of 78.50 CNY per ton, reflecting ongoing market activity and interest [31]. Section 8: Company Announcements - Recent announcements from companies like Dongjiang Environmental and Zhongyuan Environmental indicate strategic acquisitions aimed at enhancing operational capabilities and market positioning [42].

Investment Rating - The report maintains a "Positive" investment rating for the environmental protection industry [13]. Core Insights - The central government has set a target for 2026 to actively resolve local government debt risks, with a focus on replacing hidden debts amounting to 2 trillion yuan in 2025, which has been exceeded by 106.6% [2][6][19]. - The environmental protection sector is expected to benefit significantly from the debt replacement policies, improving cash flow and performance for various companies within the industry [7][23]. - The report highlights that several environmental companies have seen a notable improvement in their accounts receivable, indicating a positive trend in cash flow [9][40]. Summary by Sections Policy and Progress - The National People's Congress approved a resolution to increase local government debt limits for replacing hidden debts, with a structured approach of 6 trillion, 4 trillion, and 2 trillion yuan [6][19]. - As of September 2025, the issuance of special refinancing bonds reached 2.31 trillion yuan, with 2.13 trillion yuan specifically allocated for replacing hidden debts, indicating proactive measures by local governments to address existing debt issues [8][27]. Improvement in Accounts Receivable - Companies like Hanlan Environment and Chuangye Environmental have reported significant recoveries in accounts receivable, with Hanlan recovering approximately 1.53 billion yuan in the first three quarters of 2025 [9][39]. - The overall cash flow for the environmental sector has improved, with a year-on-year increase of 31% in operating cash flow net [9][41]. Investment Logic - The report suggests two investment strategies: focusing on sectors with large accounts receivable and low risk, such as waste incineration and water operations, and identifying leading companies in sectors with high government-related receivables [10][44]. - The report emphasizes the potential for cash flow improvement in the environmental sector due to the ongoing debt replacement policies, which are expected to enhance the repayment capabilities of local governments [42][44].

Core Insights - The medical wastewater treatment equipment market in China is expected to grow from 2.85 billion yuan in 2015 to 4.8 billion yuan by 2024, indicating a strong growth trend driven by government support and technological advancements [1][5]. Industry Overview - Medical wastewater treatment equipment is specifically designed to handle various types of wastewater generated by hospitals, which contains pathogenic microorganisms and harmful pollutants [2]. - The treatment process typically involves a combination of physical, chemical, and biological methods to ensure effective purification [2]. Industry Policies - Recent government policies have emphasized the importance of improving wastewater treatment facilities in medical institutions, mandating the construction of adequate treatment systems to prevent untreated wastewater discharge [3][4]. Industry Chain - The industry chain consists of upstream raw materials (steel, plastic, electronic components), midstream manufacturing of treatment equipment, and downstream application in medical institutions [4]. Market Competition - The medical wastewater treatment equipment market is highly competitive, with numerous domestic and international companies offering various products and solutions [6]. - Key players include companies like Anhui Huaki Environmental Technology Co., Ltd. and Tianjin Chuangye Environmental Protection Co., Ltd., which are actively involved in the development and application of treatment technologies [6][7]. Industry Development Trends - The industry is witnessing trends towards smart, efficient, and resource-oriented wastewater treatment solutions, utilizing IoT and big data for remote monitoring and management [7]. - There is a growing focus on recycling treated wastewater for non-potable uses within hospitals, contributing to cost savings and environmental sustainability [7].

以下為天津創業環保集團股份有限公司於上海證券交易所網站(www.sse.com.cn) 所刊發之《天津創業環保集團股份有限公司關於變更簽字會計師的公告》。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號 ： 1065） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 承董事會命 董事長 唐福生 中國，天津 2026年1月6日 於本公告刊發日期，董事會由3名執行董事唐福生先生、付興海先生（職工董事） 及聶艷紅女士；3名非執行董事王永威先生、李曉廣先生及劉韜先生；及3名獨立 非執行董事劉飛女士、王尚敢先生及薛濤先生組成。 | 证券代码：600874 | 证券简称：创业环保 | 公告编号：临 | 2026-001 | | --- | --- | --- | --- | | 债券代码：243568 | 债券简称：GK 津创 | 01 | | 天津创业环保集团股份有限 ...