重要内容提示： ●是否需要提交股东会审议：否。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601033 证券简称：永兴股份 公告编号：2026-005 广州环投永兴集团股份有限公司 关于2026年度日常关联交易预计的公告 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。 ●广州环投永兴集团股份有限公司（以下简称"公司"）与关联方发生的日常关联交易均为公司及公司子 公司日常生产经营所需，遵循公开、公平、公正的原则，不会对公司的财务状况、经营成果产生不利影 响，不会对关联方形成依赖，也不会影响公司的独立性，不存在损害公司股东尤其是中小股东利益的情 形。 一、公司日常关联交易基本情况 （一）日常关联交易履行的审批程序 公司于2026年2月12日召开2026年度独立董事专门会议第一次会议，以3票同意、0票弃权、0票反对审议 通过了《关于2026年度日常关联交易预计的议案》。独立董事专门会议认为：公司依据2025年日常交易 情况及2026年生产经营计划对2026年度日常关联交易进行了预计，关联交易均为公司及公司子公司正常 ...

（记者 曾健辉） 每经AI快讯，永兴股份2月12日晚间发布公告称，公司第二届第三次董事会会议于2026年2月12日以现 场会议方式召开。会议审议了《关于公司2026年度日常关联交易预计的议案》等文件。 每经头条（nbdtoutiao）——打造百万元级尊界的江淮，迎来葛卫东、方文艳联手投资：两人各掏10亿 元，公司股价应声大涨！复盘历史：牛散参与定增有赚也有亏 ...

中信证券股份有限公司 关于 广州环投永兴集团股份有限公司 2026 年度日常关联交易预计的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为广州环 投永兴集团股份有限公司（以下简称"永兴股份"或"公司"）首次公开发行股 票并在主板上市的保荐人和持续督导机构，根据《证券发行上市保荐业务管理办 法》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》《上海证券 交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范 运作》等有关规定，对永兴股份 2026 年度日常关联交易预计事项进行了审慎核 查，具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易履行的审批程序 公司于 2026 年 2 月 12 日召开 2026 年度独立董事专门会议第一次会议，以 3 票同意、0 票弃权、0 票反对审议通过了《关于 2026 年度日常关联交易预计的 议案》。独立董事专门会议认为：公司依据 2025 年日常交易情况及 2026 年生产 经营计划对 2026 年度日常关联交易进行了预计，关联交易均为公司及公司子公 司正常生产经营所需，具有合理性，交易遵循公开、公平、公正原则 ...

广州环投永兴集团股份有限公司 信用类债券信息披露事务管理制度 二〇二六年二月 1 第一章 总 则 第一条 为规范广州环投永兴集团股份有限公司（以下简称"永兴股份" 或"公司"）的信用类债券信息披露行为，加强信息披露事务管理，促进公司 依法规范运作，维护公司和投资者的合法权益，依据《中华人民共和国公司法》 《中华人民共和国证券法》《企业债券管理条例》《公司债券发行与交易管理 办法》《公司信用类债券信息披露管理办法》《银行间债券市场非金融企业债 务融资工具信息披露规则》《广州环投永兴集团股份有限公司章程》以及信用 类债券监督管理机构或市场自律组织等有关规定，制定本制度。 第二条 永兴股份下属全资、控股或实际控制的各级子公司作为发行主体 的，应参照相关监管规定和本制度，结合本单位实际情况和管理需要，制定本 单位的信息披露管理办法。 第三条 本制度所称信用类债券，包括企业债券、公司债券和非金融企业 债务融资工具。公司公开发行的企业债券、公司债券以及银行间债券市场非金 融企业债务融资工具的发行及存续期的信息披露适用本制度。 本制度所称公司信用类债券监督管理机构，包括中国人民银行、国家发展 和改革委员会和中国证券监督管理 ...

证券代码：601033 证券简称：永兴股份 公告编号：2026-005 广州环投永兴集团股份有限公司 关于 2026 年度日常关联交易预计的公告 一、公司日常关联交易基本情况 （一）日常关联交易履行的审批程序 公司于2026年2月12日召开2026年度独立董事专门会议第一次会议，以3票 同意、0票弃权、0票反对审议通过了《关于2026年度日常关联交易预计的议 案》。独立董事专门会议认为：公司依据2025年日常交易情况及2026年生产经 营计划对2026年度日常关联交易进行了预计，关联交易均为公司及公司子公司 正常生产经营所需，具有合理性，交易遵循公开、公平、公正原则，并严格按 照相关规定履行批准程序，不会对公司独立性造成不利影响，公司不会因此而 对关联方形成依赖，不存在损害公司及全体股东特别是中小股东利益的情形。 独立董事一致同意将该项议案提交公司董事会审议，关联董事需回避表决。 公司于2026年2月12日召开第二届董事会第三次会议，以4票同意、0票弃 权、0票反对审议通过了《关于2026年度日常关联交易预计的议案》，关联董事 张雪球先生、祝晓峰女士、吴宁先生回避表决。该议案无需提交公司股东会审议。 公司保荐 ...

证券代码：601033 证券简称：永兴股份 公告编号：2026-004 广州环投永兴集团股份有限公司 第二届董事会第三次会议决议公告 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。 具体内容详见公司于2026年2月13日在《上海证券报》《中国证券报》《证券 日报》《证券时报》和上海证券交易所网站（www.sse.com.cn）披露的制度全文。 一、董事会会议召开情况 广州环投永兴集团股份有限公司（以下简称"公司"）第二届董事会第三 次会议通知于2026年2月9日以电子邮件方式发出，并于2026年2月12日以现场会 议方式召开。本次会议由公司董事长张雪球先生主持，应当出席董事7名，实际 出席董事7名，公司高级管理人员列席了会议。本次会议的召开和表决程序符合 有关法律、行政法规、部门规章、规范性文件和《公司章程》等有关规定。 （一）审议通过《关于公司2026年度日常关联交易预计的议案》 本议案经2026年度独立董事专门会议第一次会议审议通过。 具体内容详见公司于2026年2月13日在《上海证券报》《中国证券报》《证券 日报》《证券 ...

Investment Rating - The report maintains a positive outlook on the carbon trading market and related sectors, indicating a favorable investment environment for companies involved in power generation and environmental protection [2][9]. Core Insights - The carbon market in China is expanding, with a cumulative trading volume of 865 million tons and a total transaction value of 57.663 billion yuan as of December 31, 2025. The trading volume for the year increased by approximately 24% year-on-year, although the average transaction price fell by 19.23% to 62.36 yuan per ton [2][6]. - The report highlights the government's commitment to carbon reduction, transitioning from energy control to carbon control, which is expected to create investment opportunities in the environmental sector [9]. - Natural gas prices have decreased due to a combination of supply-demand dynamics and seasonal factors, with significant price drops observed in various markets, including a 39.20% decrease in the Henry Hub spot price [2][12]. Summary by Sections 1. Power Sector - The carbon trading market is projected to continue expanding, with key emission units increasing awareness of carbon reduction. The number of units under management reached 3,378, with significant representation from the power, steel, cement, and aluminum industries [2][6]. - Recommendations for investment include companies with stable revenue sources such as Guodian Power, Inner Mongolia Huadian, and China Huaneng, which benefit from diversified income streams [9][11]. 2. Natural Gas Sector - Natural gas prices have seen a significant decline, with the Henry Hub spot price at $4.37/mmBtu, reflecting a 39.20% week-on-week drop. The report notes that the supply-demand balance is improving, contributing to this price decrease [2][12]. - Investment recommendations include companies like Kunlun Energy and New Hope Energy, which are expected to benefit from lower upstream resource costs and improved sales volumes [34][35]. 3. Market Performance Review - The report indicates that the power equipment and gas sectors outperformed the broader market during the review period from February 2 to February 6, 2026 [37]. 4. Company and Industry Dynamics - Recent regulatory updates include the National Development and Reform Commission's notification on improving the capacity pricing mechanism for coal and gas power generation, which aims to enhance revenue recovery for power plants [39][40]. - Key company announcements include performance forecasts from major players like Datang Power and Shanghai Electric, indicating significant year-on-year profit growth [41]. 5. Valuation Tables - The report provides valuation metrics for key companies in the utility sector, with several companies rated as "Buy," indicating strong growth potential and favorable market conditions [43][44].

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The Southeast Asian waste incineration market is poised for significant growth, with a projected demand for incineration capacity reaching 222,000 tons per day by 2030 and 491,000 tons per day by 2050, representing an investment opportunity exceeding 100 billion [6][15] - The domestic waste incineration market in China has entered a mature phase, with the operational capacity reaching 1.16 million tons per day by the end of 2024, reflecting an 8% year-on-year increase [16][20] - The profitability of waste incineration projects in Southeast Asia is expected to be significantly higher than domestic projects, with potential net profit margins exceeding 25% under optimistic scenarios [6][15] Summary by Sections Domestic Waste Market - The domestic incineration market is relatively saturated, with listed companies' capacity under construction accounting for less than 10% of total operational capacity [16][26] - The business model of waste incineration is resilient, characterized by stable profits and strong cash flow, with a 4.9% year-on-year increase in revenue for the waste incineration sector in Q1-Q3 2025 [28][31] Southeast Asian Waste Incineration Market - Population growth and urbanization are driving waste generation, making incineration the preferred solution for urban management in Southeast Asia [6][15] - The incineration rate in Southeast Asia is expected to accelerate, with significant investment opportunities available [6][15] Profitability and Operational Risks - High electricity prices and disposal fees are enhancing profitability, with revenue from Southeast Asian projects estimated to be 1.8 to 2.7 times that of domestic projects [6][15] - The operational environment in overseas markets presents complexities that require enhanced local management and risk mitigation strategies [6][15] Recommendations - Focus on operators using BOT/BOO models for overseas investments, such as Weiming Environmental, Junxin Co., and China Tianying [6][15] - Consider equipment and engineering firms like Sanfeng Environment that leverage their manufacturing capabilities to enter overseas markets [6][15]

Market Performance - The environmental governance sector increased by 1.66% on February 3, with Sains leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Top Gainers in Environmental Governance Sector - The top-performing stocks included: - Sains (688480) with a closing price of 81.99, up 13.25% and a trading volume of 39,500 shares, totaling 313 million yuan [1] - Zhonglan Environmental (300854) at 23.62, up 7.46% with 63,300 shares traded, amounting to 148 million yuan [1] - Shanghai Xianba (603200) at 81.85, up 6.28% with 70,000 shares traded, totaling 560 million yuan [1] Decliners in Environmental Governance Sector - Notable decliners included: - Xuelang Environment (300385) at 11.34, down 1.99% with a trading volume of 250,700 shares, totaling 278 million yuan [2] - Guozhong Water (600187) at 2.12, down 1.85% with 973,700 shares traded, amounting to 206 million yuan [2] - Delinhai (688069) at 23.98, down 1.07% with 20,800 shares traded, totaling 50.4 million yuan [2] Capital Flow in Environmental Governance Sector - The environmental governance sector saw a net inflow of 130 million yuan from institutional investors, while retail investors experienced a net outflow of 54.53 million yuan [2] - The main stocks with significant capital inflow included: - Fuzhijie Technology (688335) with a net inflow of 52.43 million yuan, accounting for 13.68% of the total [3] - Huicheng Environmental (300779) with a net inflow of 36.99 million yuan, representing 7.20% [3] - Gaon Environment (603588) with a net inflow of 35.59 million yuan, making up 7.46% [3]

Investment Rating - The report provides a positive outlook on the electricity and natural gas sectors, highlighting stable revenue mechanisms and growth potential in consumption and pricing [1][10]. Core Insights - The report emphasizes the importance of a refined capacity pricing mechanism for electricity generation, which aims to stabilize revenue and ensure fair compensation for various power sources [4][6]. - It notes that natural gas consumption is expected to grow, supported by favorable weather conditions and improved economic indicators, despite short-term price fluctuations [10][29]. Summary by Sections 1. Electricity: Improved Capacity Pricing Mechanism - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for electricity generation, addressing mismatches in supply and demand within the new power system [4]. - The new mechanism aims to ensure that different types of power generation, including coal, gas, and new energy sources, receive fair compensation based on their peak supply capabilities [6][7]. - The report highlights that the refined pricing structure will lead to more predictable revenue for power generation companies, reducing volatility in earnings [7]. 2. Natural Gas: Continued Growth in Consumption - The report indicates that the apparent consumption of natural gas in China is projected to grow by 0.1% in 2025, with December consumption reaching 38.57 billion cubic meters, a year-on-year increase of 1.9% [29]. - It notes that the recent cold weather has supported high natural gas prices, with the U.S. Henry Hub spot price at $7.18/mmBtu, while European prices remain elevated due to low inventory levels and geopolitical tensions [10][12]. - The report suggests that the natural gas sector will benefit from a combination of lower costs and improved pricing mechanisms, leading to a recovery in profitability for city gas companies [31]. 3. Investment Recommendations - For coal-fired power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their stable revenue sources [8]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are highlighted for their potential to improve profit margins through reduced capital expenditures [8]. - In the nuclear sector, China National Nuclear Power and China General Nuclear Power are suggested for their growth potential as new units are approved [8]. - The report also recommends focusing on integrated natural gas companies like ENN Energy and China Gas Holdings, which are expected to benefit from lower costs and increased sales [31].