证券代码：603588 证券简称：高能环境 公告编号：2025-087 6、合作期限：25 年 北京高能时代环境技术股份有限公司 关于中标泰国垃圾焚烧发电项目的公告 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"）控股孙公 司北大年府清洁合资企业收到泰国北大年府亚穆乡行政办公室发出的中标公告， 北大年府清洁合资企业为"亚穆乡行政办公室（北大年府亚灵县）社区生活垃圾 焚烧发电项目"的中标单位。 一、中标基本情况 1、项目名称：亚穆乡行政办公室（北大年府亚灵县）社区生活垃圾焚烧发 电项目 2、中标人名称：北大年府清洁合资企业，公司通过高能环境（泰国）有限 公司持有其 80%股权。 3、项目内容："亚穆乡行政办公室（北大年府亚灵县）社区生活垃圾焚烧 发电项目"采用炉排式（Stoker）生活垃圾焚烧炉（Incinerator）技术，装机 发电容量为 9.9 兆瓦/售电容量 9 兆瓦，具备每日处理不少于 500 吨生活垃圾的 能力，并配备高效且符合科学标准的污染治理系统。 4、项 ...

Core Viewpoint - The company has won its first overseas waste-to-energy project in Thailand, showcasing its comprehensive capabilities in waste incineration technology, equipment manufacturing, project investment, construction, and operation [1] Group 1: Project Details - The project is awarded by the Administrative Office of Yamu Subdistrict, North Bangkok, for the community waste incineration power generation project [1] - The total investment for the project is not to exceed 1,950,000,000 Thai Baht, approximately 427 million RMB at the current exchange rate [1] Group 2: Strategic Implications - This project reflects the company's strength in waste-to-energy technology and is expected to help expand its business in Belt and Road Initiative countries [1] - The successful bid is likely to facilitate the company's entry into the overseas waste-to-energy market [1]

高能环境（603588）(603588.SH)发布公告，近日，公司控股孙公司北大年府清洁合资企业收到泰国北 大年府亚穆乡行政办公室发出的中标公告，北大年府清洁合资企业为"亚穆乡行政办公室(北大年府亚灵 县)社区生活垃圾焚烧发电项目"的中标单位。该项目总投资约合人民币4.27亿元。 ...

该项目为公司中标的第一个海外垃圾焚烧发电项目，体现出公司垃圾焚烧发电技术研发、设备制造、项 目投资、建设、运营方面的综合实力，有助于公司拓展一带一路国家的垃圾焚烧发电业务，进而有利于 拓展海外垃圾焚烧发电市场。 格隆汇11月18日丨高能环境(603588.SH)公布，公司控股孙公司北大年府清洁合资企业收到泰国北大年 府亚穆乡行政办公室发出的中标公告，北大年府清洁合资企业为"亚穆乡行政办公室（北大年府亚灵 县）社区生活垃圾焚烧发电项目"的中标单位。项目总投资不超过1,950,000,000泰铢（按当前汇率折 算，约合人民币4.27亿元）。 ...

人民财讯11月18日电，高能环境（603588）11月18日公告，近日，公司控股孙公司北大年府清洁合资企 业收到泰国北大年府亚穆乡行政办公室发出的中标公告，北大年府清洁合资企业为"亚穆乡行政办公室 (北大年府亚灵县)社区生活垃圾焚烧发电项目"的中标单位。项目总投资不超过19.5亿泰铢(约合人民币 4.27亿元)，处理规模：500吨/天，合作期限：25年。 ...

高能环境：控股孙公司中标4.27亿元泰国垃圾焚烧发电项目。 ...

Group 1 - The core viewpoint of the news is that GaoNeng Environment's stock has experienced fluctuations, with a recent decline in share price despite a year-to-date increase of 39.26% [1] - As of November 18, the stock price was reported at 7.20 CNY per share, with a total market capitalization of 10.967 billion CNY [1] - The company has seen a net outflow of main funds amounting to 17.92 million CNY, with significant selling pressure observed [1] Group 2 - GaoNeng Environment, established on August 28, 1992, specializes in solid waste pollution prevention technology and provides solutions in various sectors including waste treatment and environmental restoration [2] - The company's revenue composition includes 77.68% from hazardous waste resource utilization, 13.49% from environmental operation services, and 8.83% from environmental engineering [2] - As of September 30, the company reported a total revenue of 10.16 billion CNY for the first nine months of 2025, a year-on-year decrease of 11.28%, while net profit attributable to shareholders increased by 15.18% to 646 million CNY [2] Group 3 - Since its A-share listing, GaoNeng Environment has distributed a total of 1.125 billion CNY in dividends, with 839 million CNY distributed over the past three years [3] - As of September 30, 2025, the company had 40,800 shareholders, a decrease of 16.76% from the previous period, with an average of 37,370 circulating shares per shareholder, an increase of 20.14% [2][3] - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 46.946 million shares, an increase of 17.817 million shares from the previous period [3]

Core Viewpoint - The stock of Beijing High Energy Environment Technology Co., Ltd. has shown significant fluctuations, with a year-to-date increase of 45.65% and a recent trading volume indicating active market participation [1][2]. Group 1: Stock Performance - As of November 11, the stock price reached 7.53 CNY per share, with a market capitalization of 11.47 billion CNY [1]. - The stock has experienced a 2.03% increase during the trading session, with a total transaction volume of 131 million CNY and a turnover rate of 1.15% [1]. - Year-to-date, the stock has risen by 45.65%, with a recent 5-day increase of 2.59%, a 20-day decrease of 9.82%, and a 60-day increase of 17.29% [1]. Group 2: Financial Performance - For the period from January to September 2025, the company reported a revenue of 10.16 billion CNY, reflecting a year-on-year decrease of 11.28%, while the net profit attributable to shareholders was 646 million CNY, showing a year-on-year increase of 15.18% [2]. - Cumulative cash dividends since the company's A-share listing amount to 1.125 billion CNY, with 839 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders decreased to 40,800, while the average circulating shares per person increased by 20.14% to 37,370 shares [2]. - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 46.95 million shares, an increase of 17.82 million shares compared to the previous period [3].

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1] Core Views - The report emphasizes the importance of the "15th Five-Year Plan" focusing on green dual carbon goals, marketization, and debt management [4][8] - The solid waste sector shows strong performance in Q3 2025, with improved cash flow and profitability [4][12] Summary by Sections Industry Investment Rating - The report maintains an "Accumulate" rating for the environmental protection sector, highlighting strong fundamentals and growth potential [1] Key Investment Themes - The "15th Five-Year Plan" prioritizes green transformation, dual carbon goals, marketization, and debt management as key themes for the environmental sector [4][8] - The report suggests that the solid waste sector is experiencing robust growth, with Q3 2025 showing a 12% increase in net profit and a 2.7 percentage point rise in gross margin [4][12] Solid Waste Sector Insights - The solid waste sector's free cash flow improved significantly, with a net operating cash flow of 13.3 billion yuan in Q1-Q3 2025, representing a 28% increase [4][12] - The report highlights that the sector is entering a mature phase, with capital expenditures declining and dividend payouts increasing [12][14] Water Management Sector Insights - The water management sector is expected to experience a cash flow turning point, similar to the solid waste sector, with anticipated increases in free cash flow starting in 2026 [17][18] - The report notes that water pricing reforms are crucial for ensuring reasonable returns on investments, with cities like Guangzhou and Shenzhen implementing price adjustments [17][18] Renewable Energy and Recycling Insights - The report indicates a 63.18% year-on-year increase in sales of new energy sanitation vehicles in the first nine months of 2025, with a penetration rate of 17.40% [20][28] - The report also highlights improvements in profitability for lithium battery recycling due to rising metal prices, with lithium carbonate prices reaching 80,600 yuan per ton [20][28]

Core Viewpoint - The company, GaoNeng Environment, announced a share buyback plan, indicating a strategic move to enhance shareholder value and confidence in the company's future performance [1] Group 1 - As of October 31, 2025, the company has repurchased a total of 16.796456 million shares [1] - The repurchased shares account for approximately 1.10% of the company's total share capital [1]