2月25日，高能环境涨1.65%，成交额6.99亿元。两融数据显示，当日高能环境获融资买入额9252.81万 元，融资偿还9198.04万元，融资净买入54.77万元。截至2月25日，高能环境融资融券余额合计10.71亿 元。 融资方面，高能环境当日融资买入9252.81万元。当前融资余额10.70亿元，占流通市值的6.01%，融资 余额超过近一年90%分位水平，处于高位。 融券方面，高能环境2月25日融券偿还500.00股，融券卖出3.26万股，按当日收盘价计算，卖出金额 38.11万元；融券余量8.83万股，融券余额103.22万元，低于近一年20%分位水平，处于低位。 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 ...

| 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 300139 | 晓程科技 | 1 | 12.91 | 177亿 | 112.29 | | 603077 | 和邦生物 | 1 | 10.08 | 231亿 | 15.93 | | 601212 | 日银有色 | 1 | 9.93 | 771亿 | 77.95 | | 002716 | 湖南白银 | 1 | 9.65 | 423亿 | 116.76 | | 001337 | 四川黄金 | | 8.38 | 210亿 | 79.11 | | 000603 | 盛达资源 | 1 | 8.21 | 337亿 | 57.98 | | 600531 | 豫光金铅 | 1 | 7.58 | 211亿 | 48.60 | | 601969 | 母国外业 | 1 | 6.88 | 236亿 | -0.59 | | 000506 | 招我黄金 | | 6.87 | 191亿 | 57.20 | | 301500 | 飞南资源 | | 6.77 | 115亿 | 30.59 ...

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1] Core Insights - The mining industry is entering a new investment cycle driven by rising metal prices and increasing capital expenditures (CAPEX), with a projected 50% growth in global mining CAPEX by 2030 [6][12] - The report highlights two main themes: 1) Green energy and equipment consumables, and 2) Resources and recycling [6] Summary by Sections Main Line 1: Green Energy and Equipment Consumables - **Longjing Environmental Protection**: Driven by rising metal prices, mining CAPEX is expected to increase, leading to a surge in demand for green electricity and new energy equipment in mining [6][14] - **Sains**: With Zijin Mining's support, there is significant potential in mining pollution prevention and chemical agents, as the company expands its offerings in customized solutions for heavy metal pollution [21][24] - **Jingjin Equipment**: As a leader in solid-liquid separation equipment, the company has a market share of over 40%. The report indicates a recovery in demand and highlights the company's high dividend yield as a safety margin [33][34] - **Yutong Heavy Industry**: The company is experiencing a doubling in sales of new energy mining vehicles, benefiting from the electrification trend. The mining equipment segment saw revenue of 641 million yuan in the first half of 2025, a year-on-year increase of 111% [6][14] Main Line 2: Resources and Recycling - **High Energy Environment**: The company is seeing significant growth in metal resource recycling, with a strategic move into mining. The performance of recycling projects is expected to improve with rising metal prices [6][19] - **Sains**: The price of rhenium, a strategic aerospace metal, continues to rise, and the company is positioned to benefit from this trend through its collaboration with Zijin Mining [6][23] - **Weiming Environmental Protection**: The tightening supply of nickel is driving price increases, and the company is focusing on overseas solid waste management opportunities, particularly in Indonesia [6][19]

Summary of Key Points Core Viewpoint - The company, Beijing GaoNeng Times Environmental Technology Co., Ltd., has announced the provision of guarantees for its subsidiaries, Jiangxi Xinke and GaoNeng ZhongSe, as part of its financial strategy to support their operational needs and ensure debt repayment capabilities [1][7]. Group 1: Guarantee Overview - The total amount of guarantees planned for 2025 is expected to not exceed 2,438,800 thousand yuan, with 1,548,800 thousand yuan already existing and 890,000 thousand yuan as new guarantees for subsidiaries [2]. - The new guarantees include 150,000 thousand yuan specifically for Jiangxi Xinke, which has an asset-liability ratio of 71.02% as of September 30, 2025 [3][6]. Group 2: Internal Decision-Making Process - The board of directors approved the guarantee proposals in meetings held on March 18, 2025, and April 9, 2025, with unanimous support [8]. - The additional guarantee for Jiangxi Xinke was approved in meetings on December 19, 2025, and January 7, 2026, also receiving unanimous support [8]. Group 3: Guarantee Agreements - Jiangxi Xinke's guarantee agreement with Bohai Bank is for a maximum of 10,000 thousand yuan, covering various financial obligations including principal, interest, and related costs [4]. - GaoNeng ZhongSe's guarantee agreement with Industrial and Commercial Bank of China is for a maximum of 5,000 thousand yuan, also covering a range of financial obligations [5]. Group 4: Necessity and Reasonableness of Guarantees - Both Jiangxi Xinke and GaoNeng ZhongSe have asset-liability ratios above 70%, indicating a need for financial support to maintain operational stability [6]. - The company believes that the subsidiaries have the capability to repay their debts, making the overall risk of the guarantees manageable [7]. Group 5: Cumulative Guarantee Situation - As of December 31, 2025, the total amount of guarantees provided by the company and its subsidiaries is 897,387.45 thousand yuan, which is 99.20% of the company's latest audited net assets [9]. - The total approved guarantees amount to 1,323,333.67 thousand yuan, exceeding the company's net assets, indicating a high leverage situation [9].

Core Viewpoint - The company, GaoNeng Environment, announced significant external guarantees provided to its subsidiaries, raising concerns about its financial leverage and risk exposure [1] Summary by Relevant Categories External Guarantees - As of December 31, 2025, the actual external guarantee balance of the company and its subsidiaries is 897,387.45 million yuan, accounting for 99.20% of the company's latest audited net assets attributable to shareholders [1] - The company has provided guarantees totaling 892,935.60 million yuan for its subsidiaries, which represents 98.71% of the latest audited net assets attributable to shareholders [1] - The total approved external guarantees for the company and its subsidiaries amount to 1,323,333.67 million yuan, which is 146.29% of the latest audited net assets attributable to shareholders [1] Guarantees for Controlling Subsidiaries - The total guarantees provided by the company for its controlling subsidiaries is 1,317,863.67 million yuan, equating to 145.68% of the latest audited net assets attributable to shareholders [1] - The company has not provided any guarantees for its controlling shareholders, actual controllers, or their related parties [1] Other Guarantee Situations - Apart from the mentioned guarantees, the company has no other external guarantee activities or overdue guarantee situations [1]

Core Viewpoint - The company, High Energy Environment (603588), is actively exploring resource recovery business in the rare earth sector, which is recognized as a strategically important metal for the country [1] Company Focus - High Energy Environment is focusing on the rare earth sector as part of its strategic initiatives [1]

Group 1 - The core viewpoint of the article is that High Energy Environment (603588) is currently conducting exploration activities for four mining rights in Hunan, with plans to apply for mining permits after the exploration is completed [1] Group 2 - The company is in the process of transitioning from exploration to mining, pending the approval of their applications for mining permits [1] - Once the exploration is completed and the applications are approved, the company will obtain mining certificates [1]

Group 1 - The company, GaoNeng Environment (603588.SH), is actively exploring resource recovery business in the rare earth sector, which is recognized as a significant strategic metal for the country [1]

证券代码：603588 证券简称：高能环境 公告编号：2026-009 北京高能时代环境技术股份有限公司 关于为控股子公司提供担保的公告 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： 担保对象及基本情况 | | 被担保人名称 | 江西鑫科环保高新技术有 限公司（以下简称"江西鑫 科"） | | 甘肃高能中色环保科技有 限公司（以下简称"高能 中色"） | | --- | --- | --- | --- | --- | | | 本次担保金额 | | 10,000 万元 | 5,000 万元 | | 担保对象 | 实际为其提供 的担保余额 | | 182,327.41 万元 | 23,127.76 万元 | | | 是否在前期预 计额度内 | 是 □否 _________ | □不适用： | 是 □否 □不适用： _________ | | | 本次担保是否 有反担保 | 是 □否 _________ | □不适用： | 是 □否 □不适用： _________ | 累计担保情况 | 对外担保逾期的累计金 ...

（文章来源：每日经济新闻） 每经AI快讯，高能环境（603588.SH）2月12日在投资者互动平台表示，您好，目前湖南的四个探矿权 在陆续做勘查，待勘查结束后进行探转采的申请，审批通过后将取得采矿证。 ...