Market Overview - The environmental governance sector increased by 0.53% on October 29, with Shanghai Xiba leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Notable gainers in the environmental governance sector included: - Shanghai Xiba (603200) with a closing price of 92.86, up 6.64% [1] - Baolijie (920802) at 18.51, up 6.20% [1] - Haitan Co. (603759) at 11.00, up 5.87% [1] - Fulongma (603686) at 25.57, up 5.49% [1] - Huicheng Environmental (300779) at 161.07, up 5.29% [1] - Conversely, the following stocks experienced declines: - Haixia Environmental (603817) at 7.17, down 7.00% [2] - ST Taihe (605081) at 11.23, down 4.99% [2] - Zhuojin Co. (688701) at 9.22, down 4.55% [2] Capital Flow - The environmental governance sector saw a net inflow of 339 million yuan from institutional investors, while retail investors experienced a net outflow of 178 million yuan [2][3] - Major stocks with significant capital inflows included: - Fulongma (603686) with a net inflow of 3.12 billion yuan [3] - Shanghai Xiba (603200) with a net inflow of 196 million yuan [3] - Huicheng Environmental (300779) with a net inflow of 116 million yuan [3] - Stocks with notable net outflows included: - Fulongma (603686) with a net outflow of 1.11 billion yuan from retail investors [3] - Shanghai Xiba (603200) with a net outflow of 4.51 million yuan from retail investors [3]

Core Insights - The company, Guangzhou HuanTou Yongxing Group Co., Ltd. (Yongxing Co., 601033), reported a robust growth in its performance for the first three quarters of 2025, with both operating revenue and net profit attributable to shareholders showing double-digit year-on-year increases [1][2] Financial Performance - For the period from January to September 2025, Yongxing Co. achieved operating revenue of 3.25 billion yuan, representing a 16.3% increase compared to the same period last year [1] - The net profit attributable to shareholders reached 746 million yuan, reflecting a year-on-year growth of 15% [1] - The third quarter of 2025 marked the highest revenue quarter in the company's history, with operating revenue of 1.186 billion yuan, up 23.36% year-on-year [1] - The net profit after deducting non-recurring items for the third quarter was 275 million yuan, showing a 27.38% increase compared to the previous year [1] Growth Drivers - The revenue growth in 2025 is primarily attributed to the significant improvement in the capacity utilization of waste incineration power generation projects [2] - The company enhanced the collaborative disposal of existing waste, leading to an increase in the total amount of waste processed and the volume of waste incineration power generation [2] - The acquisition of controlling shares in Xinzhou Jiejin Company during the first half of the year has also contributed positively to the company's performance [2] Debt Management - Concurrently with the third-quarter report, Yongxing Co. announced plans to publicly issue corporate bonds not exceeding 3 billion yuan to optimize its debt structure and meet funding needs for further development [2] - The financial expenses for the first three quarters decreased by over 49 million yuan compared to the same period last year, supporting the growth of profit indicators [2] - The ongoing optimization of the company's debt structure is expected to provide stable financial support for performance growth and enhance the company's financial strength for continued business expansion [2]

Core Viewpoint - Yongxing Co., Ltd. reported a year-on-year increase in total operating revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential in the industry [1] Financial Performance - Total operating revenue for the first three quarters reached 3.25 billion yuan, representing a year-on-year growth of 16.3% [1] - Net profit attributable to shareholders of the parent company was 746 million yuan, showing a year-on-year increase of 15% [1] - Basic earnings per share stood at 0.83 yuan [1]

Core Insights - Yongxing Co., Ltd. reported a robust growth in its performance for the first three quarters of 2025, with both operating revenue and net profit attributable to shareholders showing double-digit year-on-year increases [1][2] - The company achieved operating revenue of 3.25 billion yuan, a 16.3% increase compared to the same period last year, and a net profit of 746 million yuan, reflecting a 15% year-on-year growth [1] - The third quarter of 2025 marked the highest revenue quarter in the company's history, with operating revenue reaching 1.186 billion yuan, a 23.36% increase year-on-year, and a net profit of 275 million yuan, up 27.38% [1] Revenue Growth Drivers - The revenue growth in 2025 is primarily attributed to the significant increase in the capacity utilization rate of waste incineration power generation projects [1] - Enhanced collaborative disposal of existing waste and increases in total waste processed and waste incineration power generation have effectively boosted the company's performance [1] - The acquisition of controlling shares in Xinzhou Jiejin Company completed in the first half of the year has also begun to show a positive impact on the company's financial results [1] Financial Strategy - Concurrently with the third-quarter report, Yongxing Co., Ltd. announced plans to publicly issue company bonds not exceeding 3 billion yuan to optimize its debt structure and meet funding needs for further development [2] - The company's financial expenses for the first three quarters decreased by over 49 million yuan compared to the same period last year, supporting the growth of profit indicators [2] - The ongoing optimization of the company's debt structure is expected to provide stable financial support for performance growth and enhance its financial strength for business expansion [2] Market Outlook - The third-quarter report aligns with market expectations for Yongxing Co., Ltd.'s steady growth, highlighting the quality advantages in its core business and profitability [2] - The performance growth driven by increased capacity utilization is anticipated to continue, providing strong support for stable and healthy development in the future [2]

●会议召开时间：2025年11月5日（星期三）10:00-11:00 ●会议召开地点：上证路演中心（http://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 ●投资者可于2025年10月29日（星期三）至11月4日（星期二）16:00前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 yxgf@yxgrandtop.com.cn进行提问，邮件标题请注明"601033业绩说明会"。公 司将在说明会上对投资者普遍关注的问题进行回答。 广州环投永兴集团股份有限公司（以下简称"公司"）已于2025年10月29 日发布公司2025年第三季度报告，为便于广大投资者更全面深入地了解公司 2025年第三季度经营成果、财务状况，公司计划于2025年11月5日上午10:00- 11:00举行2025年第三季度业绩说明会，就投资者关心的问题进行交流。 证券代码：601033 证券简称：永兴股份 公告编号：2025-040 广州环投永兴集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保 ...

证券代码：601033 证券简称：永兴股份 公告编号：2025-038 广州环投永兴集团股份有限公司 关于公开发行公司债券的公告 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"）第二届董事会第二 次会议审议通过了《关于公司符合发行公司债券条件的议案》《关于公司发行 公司债券方案的议案》《关于提请公司股东会授权董事会全权办理公司债券发 行相关事宜的议案》，根据公司战略规划，为拓宽公司融资渠道，优化债务结 构，并满足公司生产经营发展的资金需求，公司拟公开发行公司债券。 本次公开发行公司债券事项尚需提交公司股东会审议，经中国证券监督管 理委员会同意注册后实施，且最终以中国证监会注册的方案为准。现将本次公 开发行公司债券相关事宜说明如下： 一、关于公司符合公开发行公司债券条件的说明 根据《中华人民共和国公司法》《中华人民共和国证券法》以及《公司债 券发行与交易管理办法》等有关法律、法规和规范性文件关于公开发行公司债 券的有关规定，结合公司实际情况，董事会认为公司符合现行公司债券政策和 公 ...

证券代码：601033 证券简称：永兴股份 公告编号：2025-037 广州环投永兴集团股份有限公司 关于续聘会计师事务所的公告 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： ●拟聘任的会计师事务所名称：广东中职信会计师事务所（特殊普通合 伙）（以下简称"中职信"） 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 名称：广东中职信会计师事务所（特殊普通合伙） 成立日期：2020 年 6 月 28 日 组织形式：特殊普通合伙 中职信及其从业人员近三年不存在因执业行为受到刑事处罚，受到证监会 及其派出机构、行业主管部门的行政处罚、监督管理措施，或受到证券交易场 所、行业协会等自律组织的自律监管措施、纪律处分的情况。 （二）项目信息 注册地址：广州市天河区珠江东路 11 号 1001 室（自编 01-04、06 单元） 首席合伙人：聂铁良 截至 2024 年度末，中职信合伙人数量 31 人，注册会计师 183 人，签署过 证券服务业务审计报告的注册会计师 16 人。 2024 年度，中职信经审计的收 ...

证券代码：601033 证券简称：永兴股份 公告编号：2025-039 广州环投永兴集团股份有限公司 关于召开2025年第三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： ●股东会召开日期：2025年11月17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 一、召开会议的基本情况 （一）股东会类型和届次 2025年第三次临时股东会 （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 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 17 日 14 点 30 分 召开地点：广州市越秀区流花路 121 号越秀国际会议中心南塔公司会议室 （五）网络投票的系统、起止日期和投票时间。 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 11 月 17 日 有关上述议案的具体情况，请参见公司 2025 年 8 月 27 日及 10 月 29 日披露 在《上海证券报》《中国 ...

证券代码：601033 证券简称：永兴股份 公告编号：2025-036 广州环投永兴集团股份有限公司 第二届董事会第二次会议决议公告 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。 二、董事会会议审议情况 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"）第二届董事会第二 次会议通知于2025年10月24日以电子邮件方式发出，并于2025年10月28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<2025年第三季度报告>的议案》 本议案经董事会审计委员会审议通过。 具体内容详见公司于2025年10月29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 公司《2025年第三季度报告》。 表决结果：7票同意、0票反对、0票弃权。 （二）审议通 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥1,185,618,050.77, representing a year-on-year increase of 23.36%[4] - The total profit for the quarter was ¥329,790,262.32, reflecting a growth of 28.66% compared to the same period last year[4] - Net profit attributable to shareholders was ¥284,335,430.82, which is a 25.61% increase year-on-year[4] - The basic earnings per share for the quarter was ¥0.32, up by 28.00% from the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥3,250,469,891.44, an increase of 16.3% compared to ¥2,794,914,276.18 in the same period of 2024[17] - Operating profit for the first three quarters of 2025 was ¥865,440,956.93, compared to ¥726,650,538.74 in 2024, indicating an increase of 19.1%[17] - Net profit for the first three quarters of 2025 was ¥865,525,524.36, up from ¥726,739,907.36 in 2024, representing a growth of 19.1%[17] - The net profit for the first three quarters of 2025 reached CNY 758,410,205.74, an increase of 15.4% compared to CNY 656,864,566.04 in the same period of 2024[18] - The basic and diluted earnings per share for the current period were CNY 0.83, up from CNY 0.73 in the previous year, reflecting a growth of 13.7%[18] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥25,617,274,583.16, marking a 5.74% increase from the end of the previous year[5] - Non-current assets totaled ¥21,041,127,501.33 as of September 30, 2025, an increase from ¥19,773,229,306.72 at the end of 2024, reflecting a growth of 6.4%[14] - Total assets reached ¥25,617,274,583.16 as of September 30, 2025, compared to ¥24,226,716,821.26 at the end of 2024, marking an increase of 5.7%[14] - Current liabilities amounted to ¥4,105,407,401.78 as of September 30, 2025, a decrease from ¥4,264,022,598.54 at the end of 2024, indicating a reduction of 3.7%[15] - Long-term borrowings increased to ¥9,768,053,625.26 as of September 30, 2025, compared to ¥8,826,692,050.41 at the end of 2024, reflecting a rise of 10.7%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,479,826,135.52, showing a 7.43% increase[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 1,479,826,135.52, compared to CNY 1,377,463,654.26 in the same period of 2024, indicating an increase of 7.4%[20] - The company reported a total operating cash inflow of CNY 3,199,083,936.82, compared to CNY 2,809,209,647.16 in the previous year, marking an increase of 13.9%[20] - The total cash inflow from investment activities was CNY 671,547,590.15, significantly higher than CNY 31,991,564.86 in the previous year[20] - The net cash flow from financing activities was negative at CNY -1,343,655,698.74, a decrease from a positive CNY 278,516,058.46 in the same period of 2024[21] - The total cash and cash equivalents at the end of the period stood at CNY 1,245,070,456.76, down from CNY 1,919,594,553.57 at the end of the previous year[21] Shareholder Information - The company had a total of 29,360 common shareholders at the end of the reporting period[10] - The company received government subsidies amounting to ¥10,906,558.01 during the quarter, contributing positively to the financial results[7] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥120,711,396.90, compared to ¥101,884,721.68 in 2024, showing an increase of 18.5%[17] Accounting Standards - The company did not apply new accounting standards for the current reporting period[22]