关于召开2025年第二次临时股东会的通知 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： 一、 召开会议的基本情况 (一)股东会类型和届次 证券代码：600874 证券简称：创业环保 公告编号：2025-047 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 2025年第二次临时股东会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 12 月 16 日 14 点 00 分 召开地点：天津市南开区卫津南路 76 号天津创业环保大厦 5 楼会议室 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年12月16日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 12 月 16 日 至2025 年 12 月 16 日 采用上海证券交易所网络投票系统 ...

债券代码：243568 债券简称：GK 津创 01 证券代码：600874 证券简称：创业环保 公告编号：临 2025-046 天津创业环保集团股份有限公司 第九届董事会第七十一次会议决议公告 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个别及连带责任。 天津创业环保集团股份有限公司（以下简称"本公司"或"公司"）第九届 董事会第七十一次会议于 2025 年 11 月 26 日现场结合通讯表决方式召开，应参加 会议董事 9 人，实际参加会议董事 8 人，董事聂艳红女士因公无法参会，委托董 事付兴海先生代为参会表决。公司高级管理人员列席了本次会议。本公司已于 2025 年 11 月 20 日将本次董事会会议通知和会议材料以电邮形式发送给本公司全体董 事。本次董事会的召开程序符合《公司法》及《公司章程》的有关规定，会议审 议通过了如下议案： 1.关于审议 2024 年职业经理人及高级管理人员经营业绩考核结果的议案 本议案已经董事会薪酬与考核委员会审议通过。董事聂艳红作为考核对象， 对此议案回避表决。 本议案表决结果如下：8 票同意，0 票 ...

Core Insights - The company held a successful earnings briefing for Q3 2025 on November 20, featuring key executives and board members [1] - The independent director emphasized the ongoing "14th Five-Year" strategic planning, focusing on long-term development and high-quality growth [1] Financial Performance - For the first nine months of 2025, the company reported a revenue of 3.447 billion yuan, a year-on-year increase of 1.70% [1] - Net profit reached 702 million yuan, reflecting a year-on-year growth of 3.59% [1] - The company achieved a net operating cash flow of 521 million yuan [1] - In Q3 alone, revenue was 1.269 billion yuan, up 8.36% from the same period last year [1] - Q3 net profit was 295 million yuan, showing a year-on-year increase of 2.22% [1]

Core Viewpoint - The company is focusing on strategic new business directions, particularly in distributed photovoltaic power generation, user-side energy storage, and new energy cooling and heating services, to optimize its overall business structure [1][2] Financial Performance - For the first nine months of 2025, the company achieved a revenue of 3.447 billion yuan, a year-on-year increase of 1.70%, and a net profit of 702 million yuan, up 3.59% year-on-year [2] - In the third quarter, the company contributed a revenue of 1.269 billion yuan, representing an 8.36% growth compared to the same period last year, with a net profit of 295 million yuan, a 2.22% year-on-year increase [2] Business Strategy - The company emphasizes the importance of environmental governance, particularly in response to the central ecological environment protection inspection in Tianjin, and aims to transform into a "comprehensive urban environmental service provider" [1] - The company has adopted a strategy focused on "three new" and "three quantities," achieving significant results through strategic leadership, deepening reforms, operational effectiveness, technological empowerment, and risk control [1]

Core Viewpoint - The company, Chuangye Environmental Protection, is actively pursuing its strategic development despite new regulations, focusing on regional advantages and a diversified business structure [1]. Group 1: Business Strategy and Development - The company is implementing its "14th Five-Year Plan" and is enhancing its analysis of industry policies, macroeconomic conditions, and regional characteristics [1]. - The company aims to adopt a "one project, one city" approach and establish a business structure characterized by "one heavy, one light, and one industry" [1]. Group 2: Ongoing Projects - Current construction projects include the second batch of the recycled water pipeline connection project in Tianjin, the Karamay South Suburb Sewage Treatment Plant, the urban renewal energy station project in Tianjin, and the second phase of the Xianyang Road Sewage Treatment Plant (new capacity of 150,000 tons/day) [1]. Group 3: Financial Performance - For the first nine months of 2025, the company achieved a revenue of 3.447 billion yuan, a year-on-year increase of 1.70%, and a net profit of 702 million yuan, up 3.59% [2]. - In the third quarter, the company reported revenue of 1.269 billion yuan, an increase of 8.36% year-on-year, and a net profit of 295 million yuan, growing by 2.22% [2].

Core Viewpoint - The company is actively addressing long-term receivables and exploring new business opportunities while maintaining a focus on environmental services and strategic growth initiatives [1][2][3] Group 1: Financial Performance and Management - As of the end of Q3 2025, the company reported long-term receivables of 5.16 billion yuan, indicating a persistent challenge in managing receivables [2] - The company is implementing various measures to tackle accounts receivable issues, including cash collections and exploring potential project asset injections [2] - The overall financing cost is expected to decrease slightly compared to the previous year, with ongoing efforts to optimize the debt structure [3] Group 2: Strategic Development and Market Position - The company is exploring opportunities for market expansion and is focused on enhancing its market share in the environmental services sector [2][3] - The company is undergoing a "15th Five-Year" strategic planning process, emphasizing regional advantages and a tailored project approach [3] - The company aims to transition into a comprehensive urban environmental service provider while maintaining operational efficiency [2] Group 3: Future Projects and Investments - Current construction projects include various water treatment and renewable energy initiatives, such as the Tianjin urban recycled water pipeline project and the Karamay sewage treatment plant [4] - The company is committed to sustainable development through new project reserves and is actively seeking new market opportunities [3][4] - The expected annualized return on significant projects like the Tianjin recycled water pipeline is aligned with the company's internal investment return requirements [4] Group 4: Shareholder Returns and Value Management - The company has been increasing its dividend payout ratio, with a target of 33.07% for 2024, and is exploring further enhancements to shareholder returns [4] - Discussions regarding a share buyback plan are ongoing, with future actions dependent on market conditions [4] - The major shareholder is focused on value management strategies, including optimizing dividend plans and potential asset injections to enhance market value [4]

2024年7月29日，本公司以参与公开招标的方式中标赤壁市陆水工业园污水处理厂及配套管网项目特许 经营TOT项目（下称"该项目"）。该项目采用TOT模式实施。2024年11月7日，经本公司第九届董事会 第四十四次会议审议通过，同意投资该项目并设立赤壁创环水务有限公司（以下简称"赤壁创环公 司"）。鉴于该项目在建设阶段实施了TOT转让，不符合特许经营TOT模式的实施要求，未能通过国家 发改委审核，该项目无法继续实施，赤壁创环公司于2025年6月12日收到赤壁市住建局函件，明确"解除 该项目特许经营协议"。本公司认为按照终止协议约定，可以有效保障收回转让款，赤壁创环公司投入 的前期费用也已通过其他方式实现投资平衡，终止该项目不会对本公司发展产生影响。 经审议，董事会同意赤壁创环公司终止该项目，并同意赤壁创环公司与赤壁市住房和城乡建设局签署 《赤壁市陆水工业园污水处理厂及配套管网项目特许经营终止协议》。 1.关于终止恩施市大沙坝一期、二期（谭家坝）污水处理厂及配套管网工程特许经营项目的议案 经审议，公司董事会同意恩施市创环水务有限公司终止本项目并同意签订《恩施市人民政府与恩施市创 环水务有限公司解除〈恩施市大沙坝一 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [4] Core Viewpoints - The report highlights significant profit growth in waste incineration power generation companies, with cash flow further improving. Major companies like Junxin Co. (+47.6%), Hanlan Environment (+28.1%), and Yongxing Co. (+25.6%) reported substantial increases in net profit for Q3 2025 [5][10] - The report indicates that the profitability of water companies shows significant differentiation, with some companies like Chuangye Environmental and Shouchuang Environmental experiencing declines in net profit, while others like Hongcheng Environment and Chongqing Water reported growth [7][24] - In the biofuel sector, companies experienced substantial profit growth due to rising prices and increased sales volumes, particularly in UCO and SAF [28][39] Summary by Sections 1. Municipal Environmental Protection - Waste incineration power generation companies saw significant profit increases, with cash flow improving. Key reasons include project expansions, increased waste processing volumes, and enhanced project profitability through heat supply [5][10][12] - Water companies displayed profit differentiation, with notable declines in net profit for Chuangye Environmental and Shouchuang Environmental, while others like Hongcheng Environment and Chongqing Water showed growth [7][24] 2. Biofuels - Major biofuel companies reported significant profit growth in Q3 2025, driven by rising UCO and SAF prices. UCO export prices increased by 16.7%-22.2%, while SAF prices surged by 42.16% [28][39] - Companies like Shanhai Environmental and Langkun Technology turned losses into profits, with Shanhai achieving a net profit of 0.1 billion yuan in Q3 2025, compared to a loss of 0.2 billion yuan in the same period last year [35][39]

Core Viewpoint - The company has decided to terminate two wastewater treatment projects in Enshi and Chibi, ensuring investment balance and no adverse impact on its operations. Additionally, the company is establishing a new joint venture for urban infrastructure operations in Ningguo and providing a loan to its subsidiary for operational funding [1][4][8]. Group 1: Termination of Projects - The company has resolved to terminate the Enshi Dasha Ba Phase I and II wastewater treatment project due to regulatory requirements and has reached a consensus with local authorities on the termination arrangements [1][2]. - The termination of the Chibi Lushui Industrial Park wastewater treatment project is also confirmed, as it did not meet the necessary regulatory standards for the TOT model, and the company will recover its investment through the termination agreement [4][5]. Group 2: New Joint Venture - The company will establish Ningguo Jingkai Chuanghuan Water Co., Ltd. in partnership with Ningguo Construction Investment Group to manage urban infrastructure projects, including wastewater treatment facilities [6][7]. Group 3: Financial Support to Subsidiary - The company has approved a loan of up to 40 million yuan to its subsidiary, Hebei Guojin Tianchuang Wastewater Treatment Co., Ltd., to address operational funding gaps due to insufficient service fee collections [8][9].

智通财经APP讯，天津创业环保股份(01065)发布公告，公司于2025年11月14日召开第九届董事会第七十 次会议，审议通过了《关于终止恩施市大沙坝一期、二期(谭家坝)污水处理厂及配套管网工程特许经营 项目的议案》。受PPP新机制政策调整影响，董事会同意终止实施本项目。 （原标题：天津创业环保股份(01065)终止恩施市大沙坝一期、二期(谭家坝)污水处理厂及配套管网工程 特许经营项目） 经分析，公司认为，终止本项目能够实现投资平衡，不会对公司经营发展产生影响。 ...