[Table_ReportType] 公司点评报告 [高Ta能bl环e_境Sto(c6k0A3n5d8Ra8n.kS]H) 吴柏莹 环保行业分析师 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 证券研究报告 公司研究 [Table_Title] 三季度扣非归母净利润大幅增长，资源回收板 块产能提升 [Table_ReportDate] 2025 年 10 月 23 日 郭雪 环保公用联席首席分析师 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com [ 资 T 料 ab 来 l 源 e_ ： Rweipndo ， rt 信 C 达 lo 证 s 券 in 研 g 发 ] 中心预测 ; 股价为 2025 年 10 月 22 日收盘价 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 2 | [T重a要bl财e务_P指r标ofit] | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | ...

线 | 投资机会7 | | | | QFII持仓市值居前的个股- | 览 | | | --- | --- | --- | --- | --- | --- | | 代码 | 简称 | 持股数量 | 持股数量 | 期末持仓市值 | 行业 | | | | (亿股) | 环比变动(%) | (亿元) | | | 002028 | 恩源电气 | 0.12 | 43.32 | 12.67 | 电力设备 | | 601179 | 中国西电 | 1.30 | 128.21 | 8.77 | 电力设备 | | 002311 | 海大集团 | 0.12 | 40.13 | 7.66 | 农林牧渔 | | 300811 | 铂科新材 | 0.07 | 新进 | 6.07 | 有色金属 | | 002080 | 中材科技 | 0.15 | 新进 | 4.99 | 建筑材料 | | 603049 | 中策橡胶 | 0.09 | 新进 | 4.62 | 汽车 | | 002829 | 星网宇达 | 0.09 | 384.97 | 2.01 | 国防军工 | | 603530 | 神马电力 | 0.05 | 18.39 | 1.65 | ...

10月21日，高能环境盘中上涨2.12%，截至10:55，报7.71元/股，成交1.17亿元，换手率1.00%，总市值 117.44亿元。 高能环境所属申万行业为：环保-环境治理-固废治理。所属概念板块包括：固废处理、小金属、黄金 股、有色铜、垃圾发电等。 截至9月30日，高能环境股东户数4.08万，较上期减少16.76%；人均流通股37370股，较上期增加 20.14%。2025年1月-9月，高能环境实现营业收入101.60亿元，同比减少11.28%；归母净利润6.46亿元， 同比增长15.18%。 分红方面，高能环境A股上市后累计派现11.25亿元。近三年，累计派现8.39亿元。 机构持仓方面，截止2025年9月30日，高能环境十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股4694.56万股，相比上期增加1781.69万股。 责任编辑：小浪快报 资金流向方面，主力资金净流入880.11万元，特大单买入137.83万元，占比1.18%，卖出389.62万元，占 比3.34%；大单买入2882.14万元，占比24.69%，卖出1750.24万元，占比14.99%。 高能环境今年以来股价涨49. ...

Investment Rating - The report maintains a "Buy" rating for key companies in the environmental protection sector, including Huicheng Environmental and GaoNeng Environment [5][31]. Core Insights - The report highlights the acceleration of urban renewal through new infrastructure, with a focus on air pollution control and the transition to cleaner energy sources. It emphasizes the positive impact of recent government policies on environmental monitoring and VOCs management [1][29]. - The macroeconomic environment is characterized by historically low interest rates, which favors high-dividend and growth-oriented assets in the environmental sector [2][31]. Summary by Sections Investment Views - The Ministry of Housing and Urban-Rural Development and other departments issued an action plan to enhance urban infrastructure resilience through digital and intelligent upgrades, benefiting environmental monitoring sectors [1][9]. - Jiangsu Province's 2025 air pollution prevention plan aims to eliminate high-emission equipment and promote clean energy, positively impacting VOCs management and environmental monitoring industries [17][29]. - The environmental sector is currently at a historical low in terms of institutional holdings and valuations, suggesting a potential for sustained rebounds [31]. Market Performance - The environmental sector underperformed the broader market, with a weekly decline of 2.45%, while the Shanghai Composite Index fell by 1.47% [34]. - The top-performing stocks in the environmental sector included Shuangliang Energy and Tianhao Energy, while the worst performers were Changqing Group and Hanwei Technology [34]. Industry News - The Ministry of Industry and Information Technology launched a major innovation initiative for environmental technology, focusing on key areas such as air and water pollution control [43]. - Guangdong Province introduced measures to accelerate technological upgrades in industrial enterprises, aiming to support over 9,000 companies annually [44]. - Chongqing released a compliance guide for enterprises to manage environmental risks throughout their lifecycle [45]. Key Companies - GaoNeng Environment focuses on hazardous waste resource utilization and environmental operation services, with a strong order pipeline due to regulatory changes [33]. - Huicheng Environmental is advancing in hazardous waste projects and has made significant progress in waste plastic recycling technology, indicating strong growth potential [33].

Key Points - Daya Energy's stock price has increased by 68.37% over six consecutive trading days, indicating potential irrational speculation risk [1] - Hengli Shipbuilding plans to invest 2.654 billion yuan in a green high-end equipment manufacturing supporting project related to *ST Songfa [1] - Gaoneng Environment has won a bid for a wastewater treatment facility renovation project in Suichang County, valued at 53.6423 million yuan [1] - Daji Technology intends to acquire 55% of Longzhiyuan for 416 million yuan [1] - Fujirui plans to repurchase shares worth between 10 million to 20 million yuan [1] - Zijin Mining reported a net profit of 37.864 billion yuan for the first three quarters, a year-on-year increase of 55.45% [1] - Liandong Technology's actual controller and its concerted parties plan to reduce their holdings by no more than 2.9963% [1] - Zhongqi Co. plans to issue convertible bonds to raise no more than 1.039 billion yuan [2] - Guoda Special Materials' chairman and general manager Xu Weiming has been released from detention [2]

Key Points - Daya Energy's stock price has increased by 68.37% over six consecutive trading days, indicating potential irrational speculation risk [1] - Hengli Shipbuilding plans to invest 2.654 billion yuan in a green high-end equipment manufacturing supporting project related to *ST Songfa [1] - Gaoneng Environment has won a contract worth 53.6423 million yuan for the renovation and expansion of wastewater treatment facilities in Suichang Chemical Park [1] - Entropy Technology intends to acquire 55% of Longzhiyuan for 416 million yuan [1] - Fujirui plans to repurchase shares worth between 10 million to 20 million yuan [1] - Zijin Mining reported a net profit of 37.864 billion yuan for the first three quarters, a year-on-year increase of 55.45% [1] - Lian Dong Technology's actual controller and its concerted parties plan to reduce their holdings by no more than 2.9963% [1] - Zhongqi Co. plans to issue convertible bonds to raise no more than 1.039 billion yuan [2] - Xu Weiming, Chairman and General Manager of Guangda Special Materials, has had his detention lifted [2]

证券日报网讯 10月17日晚间，高能环境发布公告称，近日，北京高能时代环境技术股份有限公司（以 下简称"公司"）收到招标代理机构浙江惠同建设工程管理有限公司发来的，经招标人浙江遂昌暨阳山海 协作产业园开发有限责任公司确认的《中标通知书》，公司作为联合体成员单位为"遂昌县化工园区专 业污水处理设施改扩建工程（一期）（第二次）"的中标人。 （文章来源：证券日报） ...

（记者 王晓波） 每经AI快讯，高能环境10月17日晚间发布公告称，近日，北京高能时代环境技术股份有限公司（以下 简称"公司"）收到招标代理机构浙江惠同建设工程管理有限公司发来的，经招标人浙江遂昌暨阳山海协 作产业园开发有限责任公司确认的《中标通知书》，公司作为联合体成员单位为"遂昌县化工园区专业 污水处理设施改扩建工程（一期）（第二次）"的中标人。中标价约5364.23万元。 每经头条（nbdtoutiao）——"我还在！"林园硬气回应牛市亏钱，"接下来，我还会在！"坚持白酒是"快 乐需求"，科技股买了"愁得睡不着" ...

北京高能时代环境技术股份有限公司 关于中标遂昌县污水处理项目的公告 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，北京高能时代环境技术股份有限公司（以下简称"公司"）收到招标 代理机构浙江惠同建设工程管理有限公司发来的，经招标人浙江遂昌暨阳山海 协作产业园开发有限责任公司确认的《中标通知书》，公司作为联合体成员单位 为"遂昌县化工园区专业污水处理设施改扩建工程（一期）（第二次）"的中标 人，详情如下： 一、中标基本情况 1、项目名称：遂昌县化工园区专业污水处理设施改扩建工程（一期）（第二 次） 2、中标人名称： 联合体牵头单位：浙江罗邦建设有限公司 联合体成员单位：北京高能时代环境技术股份有限公司 3、中标价：5,364.2289 万元 证券代码：603588 证券简称：高能环境 公告编号：2025-082 三、风险提示 1、上述项目的具体内容以公司与招标人签订的正式合同为准。 2、上述项目建设实施及运营可能受极端天气或其他自然灾害影响，请投资 者注意投资风险。 四、备查文件 《中标通知书》。 4、中标工期：9 个月 ...

高能环境（603588）(603588.SH)发布公告，近日，公司收到招标代理机构浙江惠同建设工程管理有限 公司发来的，经招标人浙江遂昌暨阳山海协作产业园开发有限责任公司确认的《中标通知书》，公司作 为联合体成员单位为"遂昌县化工园区专业污水处理设施改扩建工程(一期)(第二次)"的中标人，中标价 5364.23万元。 ...