Group 1 - The core viewpoint of the news is that Weiming Environmental Protection has shown a positive stock performance with a year-to-date increase of 6.46% and significant gains over various trading periods [1] - As of January 20, the stock price reached 27.02 CNY per share, with a market capitalization of 46.208 billion CNY [1] - The company primarily engages in urban household waste incineration power generation, with its main business revenue composition being 55.72% from equipment, EPC, and services, and 43.82% from project operations [1] Group 2 - As of September 30, the number of shareholders decreased by 4.24% to 27,800, while the average circulating shares per person increased by 4.62% to 61,281 shares [2] - For the period from January to September 2025, Weiming Environmental Protection reported a revenue of 5.880 billion CNY, a year-on-year decrease of 2.74%, while the net profit attributable to shareholders increased by 1.14% to 2.135 billion CNY [2] - The company has distributed a total of 2.969 billion CNY in dividends since its A-share listing, with 1.492 billion CNY distributed over the past three years [2]

Investment Rating - The report maintains a "Buy" rating for the environmental protection industry [1] Core Insights - The report emphasizes the importance of Sustainable Aviation Fuel (SAF) as the only viable solution for aviation decarbonization, highlighting the scarcity and value of waste oil resources during the SAF expansion cycle [14][15] - The environmental protection sector is expected to experience significant growth driven by policy support and market dynamics, particularly in waste management and renewable energy [20][21] Industry Trends - The 2026 ecological and environmental work conference set the tone for the industry's upgrade, focusing on source governance and modern monitoring systems [10][11] - The SAF market is projected to see a substantial increase in demand, with the EU mandating a gradual increase in SAF blending ratios from 2% in 2025 to 70% by 2050 [15][16] - The report notes a significant increase in the sales of new energy sanitation vehicles, with a projected growth rate of 70.9% in 2025 [26] Company Recommendations - Key companies recommended for investment include: - Hanlan Environment - Longjing Environmental Protection - Green Power - Everbright Environment - Weiming Environmental Protection - Yuhua Investment - Jinfeng Energy [4] - Companies to watch include: - Dayu Water Saving - Lian Tai Environmental Protection - Wangneng Environment [4] Market Dynamics - The report highlights the increasing value of waste oil resources, driven by the rising demand for SAF and the expansion of production capacity [18] - The report indicates that the price of SAF is expected to rise significantly due to supply constraints, with potential profitability for SAF producers [15][18] Strategic Focus - The report outlines three main strategic focuses for 2026: 1. Value and growth resonance driven by marketization and efficiency improvements in waste management [20] 2. Quality growth through second curve development and AI empowerment in sanitation [22] 3. Carbon neutrality initiatives, emphasizing the importance of renewable resources and waste resource utilization [24]

截至9月30日，伟明环保股东户数2.78万，较上期减少4.24%；人均流通股61281股，较上期增加4.62%。 2025年1月-9月，伟明环保实现营业收入58.80亿元，同比减少2.74%；归母净利润21.35亿元，同比增长 1.14%。 分红方面，伟明环保A股上市后累计派现29.69亿元。近三年，累计派现14.92亿元。 机构持仓方面，截止2025年9月30日，伟明环保十大流通股东中，睿远均衡价值三年持有混合A （008969）位居第七大流通股东，持股2700.00万股，相比上期减少100.00万股。香港中央结算有限公司 位居第八大流通股东，持股2429.68万股，相比上期增加192.41万股。 责任编辑：小浪快报 融资方面，伟明环保当日融资买入2354.80万元。当前融资余额3.54亿元，占流通市值的0.77%，融资余 额低于近一年10%分位水平，处于低位。 融券方面，伟明环保1月15日融券偿还5.56万股，融券卖出1.30万股，按当日收盘价计算，卖出金额 34.87万元；融券余量39.31万股，融券余额1054.26万元，超过近一年70%分位水平，处于较高位。 资料显示，浙江伟明环保股份有限公司位于浙 ...

Market Overview - The Shanghai Composite Index is at 4108.93 points, below the five-day moving average, with a decline of 0.42% [1] - The total trading volume of A-shares is 1,427.2 billion yuan [1] Stocks Exceeding Five-Day Moving Average - A total of 451 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Tianming Technology: 14.26% [1] - Keheng Co., Ltd.: 9.26% [1] - Yunwei Co., Ltd.: 7.41% [1] Stock Performance Data - The following stocks have notable performance metrics: - Tianming Technology: Today's increase of 19.80%, turnover rate of 13.23%, five-day moving average of 21.77 yuan, latest price at 24.87 yuan [1] - Keheng Co., Ltd.: Today's increase of 12.51%, turnover rate of 12.50%, five-day moving average of 13.01 yuan, latest price at 14.21 yuan [1] - Yunwei Co., Ltd.: Today's increase of 9.98%, turnover rate of 3.88%, five-day moving average of 4.21 yuan, latest price at 4.52 yuan [1] Additional Stocks with Performance Metrics - Other stocks with notable performance include: - Wenkai Co., Ltd.: Increase of 10.09%, turnover rate of 3.41%, five-day moving average of 4.48 yuan, latest price at 4.80 yuan [1] - Li Qun Co., Ltd.: Increase of 10.10%, turnover rate of 6.91%, five-day moving average of 5.11 yuan, latest price at 5.45 yuan [1] - Su Dawei Co., Ltd.: Increase of 12.35%, turnover rate of 16.46%, five-day moving average of 42.14 yuan, latest price at 44.93 yuan [1]

Core Viewpoint - Zhejiang Weiming Environmental Protection Co., Ltd. announced that its wholly-owned subsidiary, Zhejiang Jiawei New Energy Group Co., Ltd., has been re-certified as a high-tech enterprise, allowing it to continue benefiting from tax incentives for the next three years [1][2]. Group 1 - The announcement states that the re-certification was issued by the National High-tech Enterprise Recognition Management Work Leading Group Office, and the certificate number is GR202533010861, valid for three years starting from December 19, 2025 [1]. - The re-certification allows Jiawei New Energy Group to enjoy a reduced corporate income tax rate of 15% for three consecutive years, in accordance with the relevant provisions of the Corporate Income Tax Law of the People's Republic of China [1]. - The company emphasizes that this recognition will not have a significant impact on its current operating performance [2].

Core Viewpoint - Weiming Environmental announced that its wholly-owned subsidiary, Zhejiang Jiawei New Energy Group Co., Ltd., has been included in the list of high-tech enterprises recognized by the Zhejiang Provincial Recognition Agency for 2025, successfully passing the high-tech enterprise recognition process [1] Group 1 - The recognition is a re-evaluation following the expiration of the previous high-tech enterprise certificate for Jiawei New Energy Group [1]

格隆汇1月13日丨伟明环保(603568.SH)公布，近日，全国高新技术企业认定管理工作领导小组办公室发 布了《对浙江省认定机构2025年认定报备高新技术企业进行备案的公告》，公司下属全资子公司浙江嘉 伟新能源集团有限公司（以下简称"嘉伟新能源集团"）被列入浙江省认定机构2025年认定报备的高新技 术企业备案名单，通过了高新技术企业的认定，证书编号为GR202533010861，发证时间为2025年12月 19日，有效期三年。本次认定系嘉伟新能源集团原高新技术企业证书有效期满后所进行的重新认定。 ...

浙江伟明环保股份有限公司 本次认定事项不会对公司当期经营业绩产生重大影响，敬请广大投资者注意 投资风险。 特此公告。 关于全资子公司通过高新技术企业重新认定的公告 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。 近日，全国高新技术企业认定管理工作领导小组办公室发布了《对浙江省认 定机构 2025 年认定报备高新技术企业进行备案的公告》，浙江伟明环保股份有 限公司（以下简称"公司"）下属全资子公司浙江嘉伟新能源集团有限公司（以 下简称"嘉伟新能源集团"）被列入浙江省认定机构 2025 年认定报备的高新技 术企业备案名单，通过了高新技术企业的认定，证书编号为 GR202533010861， 发证时间为 2025 年 12 月 19 日，有效期三年。 本次认定系嘉伟新能源集团原高新技术企业证书有效期满后所进行的重新 认定。根据《中华人民共和国企业所得税法》等相关规定，嘉伟新能源集团自本 次通过高新技术企业认定后连续三年可继续享受国家关于高新技术企业的税收 优惠政策，即按 15%的税率缴纳企业所得税。 证券代码：603568 证券简称 ...

Core Viewpoint - The report emphasizes the critical role of Sustainable Aviation Fuel (SAF) in aviation decarbonization, highlighting the scarcity and price increase of waste oil resources during the SAF production expansion cycle [1][3]. Investment Recommendations - Key recommendations include companies such as Huanlan Environment (600323), Longjing Environmental Protection (600388), and others in the environmental sector [2]. - Companies to watch include Dayu Water-saving (300021) and Lian Tai Environmental Protection (603797) [2]. Industry Insights - SAF is identified as the only feasible solution for aviation decarbonization, with a focus on the HEFA route using waste oil (UCO) as raw material. The EU mandates increasing SAF blending ratios from 2% in 2025 to 70% by 2050, with projected SAF demand reaching 3,662 million tons by 2050 [3]. - By the end of 2025, domestic SAF production capacity is expected to reach 1.2 million tons per year, with total planned capacity of 4.4 million tons per year [3]. - The price of SAF is projected to rise significantly due to supply constraints, with a potential increase of over 50% from the beginning of the year [3]. Policy Tracking - The government is set to invest over 1 billion yuan in the Yangtze River protection projects from 2025 to 2027, with a focus on sewage pipeline construction and ecological restoration [4]. - Investment suggestions include companies involved in water treatment and sewage management, such as Bihui Source and Energy Conservation Guozhen (300388) [4]. Strategic Outlook for 2026 - The strategy focuses on value and growth, emphasizing the importance of marketization and efficiency improvements in the solid waste sector, with potential dividend increases [5]. - The report highlights the significance of the dual carbon drive, with recommendations for companies involved in renewable resources and waste oil production [6]. Industry Tracking - In the sanitation equipment sector, sales of new energy sanitation vehicles increased by 64.01% year-on-year, with a penetration rate of 18.60% [7]. - The price of biodiesel has decreased, leading to a decline in profit margins, while lithium battery recycling shows improved profitability due to rising lithium prices [7].

Group 1 - The company has launched a production line with an annual capacity of 20,000 tons of high-grade nickel in its Indonesia project, which is gradually ramping up production and optimizing operations [2] - The company plans to put another production line with an annual capacity of 20,000 tons into trial operation soon, aiming to further enhance its technological processes [2] - The company’s subsidiary, Wenzhou Shengqing, has achieved stable production with its first-phase production line of 25,000 tons of electrolytic nickel, while an additional 25,000-ton line is being optimized based on raw material conditions [2] Group 2 - The company has produced qualified trial products from its first-phase production line of 25,000 tons for ternary precursors, with another 25,000-ton line currently in debugging [2] - By 2026, the company aims to continue releasing new material capacities and optimizing costs, while seizing favorable external market conditions to create more revenue and profits [2]