1月27日，高能环境涨2.18%，截至发稿，报10.32元/股，成交6.00亿元，换手率3.87%，总市值157.20亿 元。高能环境股价已经连续3天上涨，区间累计涨幅6.61%。 资料显示，北京高能时代环境技术股份有限公司位于北京市海淀区秋枫路36号院1号楼高能环境大厦， 成立日期1992年8月28日，上市日期2014年12月29日，公司主营业务涉及从事固体废物污染防治技术研 究和应用,在垃圾处理、矿山能源、煤化工、石油化工、水利生态和环境修复等领域提供固体废物污染 防治系统解决方案和工程承包服务。主营业务收入构成为：固废危废资源化利用77.68%，环保运营服 务13.49%，环保工程8.83%。 从基金十大重仓股角度 数据显示，恒生前海基金旗下1只基金重仓高能环境。恒生前海沪港深新兴产业精选混合（004332）四 季度持有股数44.42万股，占基金净值比例为2.24%，位居第五大重仓股。根据测算，今日浮盈赚取约 9.77万元。连续3天上涨期间浮盈赚取28.43万元。 恒生前海沪港深新兴产业精选混合（004332）基金经理为周沐、邢程。 截至发稿，周沐累计任职时间14天，现任基金资产总规模2.05亿元，任职 ...

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The report emphasizes the growth potential in the waste incineration sector, particularly in overseas markets, with a projected investment scale of approximately 250 billion yuan for waste incineration in ASEAN countries and India [10][11] - The report highlights the significant increase in sales of new energy sanitation vehicles, with a year-on-year growth of 70.9% in 2025, indicating a strong trend towards electrification in the sanitation industry [20][30] - The report outlines a strategic focus for 2026, emphasizing value and growth resonance driven by dual carbon goals, with recommendations for companies that can leverage these trends [24][28] Industry Trends - **Waste Incineration Growth**: The report estimates a conservative increase of about 500,000 tons/day in waste incineration capacity in ASEAN and India, corresponding to an investment opportunity of around 250 billion yuan [10] - **Sanitation Equipment**: In 2025, the total amount for successful bids for unmanned sanitation equipment exceeded 12.6 billion yuan, with a year-on-year increase of 150% [17] - **Electric Vehicle Penetration**: The penetration rate of new energy sanitation vehicles reached 21.11% in 2025, up 7.67 percentage points year-on-year [30] Company Recommendations - **Key Recommendations**: The report recommends companies such as Longjing Environmental, Gao Neng Environment, and Sains for their strong growth potential in the waste incineration and sanitation sectors [4] - **Focus on Overseas Growth**: Companies like Weiming Environmental and Sanfeng Environment are highlighted for their potential to exceed expectations in overseas markets [15] - **Dividend and ROE Enhancement**: Companies such as Huanlan Environment and Green Power are noted for their strategies to enhance dividends and return on equity [15][24] Market Performance - **Sanitation Vehicle Sales**: The total sales of sanitation vehicles in 2025 reached 76,346 units, with a year-on-year increase of 8.82% [20] - **New Energy Vehicle Sales**: New energy sanitation vehicle sales reached 16,119 units, reflecting a significant increase of 70.9% year-on-year [20][30] - **Market Concentration**: The report notes that the market concentration for new energy sanitation vehicles is decreasing, with leading companies like Yingfeng Environment and Yutong Heavy Industry maintaining significant market shares [21][34]

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The report emphasizes the growth potential in waste incineration and the opportunities for companies to expand overseas, particularly in Southeast Asia and India, where there is a projected increase in waste incineration capacity [10][15] - The report highlights the significant increase in sales of new energy sanitation vehicles and the growth of unmanned sanitation projects, indicating a shift towards automation and electrification in the industry [17][20] - The 2026 strategy focuses on the dual drivers of value and growth, emphasizing the importance of marketization and efficiency improvements in the environmental sector [24][28] Industry Trends - Waste Incineration Growth: The report estimates a potential increase of approximately 500,000 tons/day in waste incineration capacity in ASEAN countries and India, corresponding to an investment scale of about 250 billion yuan [10] - Unmanned Sanitation Equipment: In 2025, the total amount of contracts for unmanned sanitation projects exceeded 12.6 billion yuan, with a year-on-year increase of over 150% [17] - New Energy Sanitation Vehicles: Sales of new energy sanitation vehicles increased by 70.9% in 2025, with a penetration rate of 21.11%, reflecting a growing trend towards electrification in the sanitation sector [20][30] Company Recommendations - Key companies recommended for investment include Longjing Environmental, Gao Neng Environment, Sains, and others, focusing on their growth potential in both domestic and international markets [4][15] - The report suggests that companies like Weiming Environmental and Sanfeng Environment are expected to benefit significantly from overseas expansion and high-value projects [15][24] - The report also highlights the importance of dividend increases and return on equity (ROE) improvements for companies such as Huanlan Environment and Green Power [15][24] Market Dynamics - The report notes that the profitability of waste incineration projects in Indonesia is significantly higher than in China due to favorable pricing and operational conditions [12][15] - The report indicates that the market for lithium battery recycling is improving, with rising metal prices and better margins for recycling projects [38][39]

Investment Rating - The report maintains a "Buy" rating for key companies in the environmental monitoring sector, such as Huicheng Environmental and GaoNeng Environment [6][22]. Core Insights - The report highlights the dual drivers of policy and demand in the environmental monitoring sector, indicating that leading companies will continue to benefit from recent regulatory changes [1][12]. - Recent government guidelines signal a shift in soil remediation practices, creating multiple growth opportunities in soil remediation and environmental consulting sectors [1][12]. - The report emphasizes the importance of high dividend assets and growth-oriented companies in the current low macroeconomic interest rate environment [2][22]. Summary by Sections Investment Views - The report discusses the release of guidelines by three departments to enhance the connection between pollution site remediation and development, marking a transition in soil remediation practices [9][12]. - It also covers the introduction of differentiated management for air quality performance in key industries, which provides incentives for companies to transition towards greener practices [13][20]. - The report notes that institutional holdings and valuations in the environmental sector are at historical lows, suggesting a potential for sustained rebounds [22]. Market Performance - The environmental sector outperformed the broader market, with a reported increase of 4.72% compared to the Shanghai Composite Index's 0.84% increase [24]. - Sub-sectors such as monitoring (5.55%), energy saving (7.99%), and solid waste (5.67%) showed significant gains, indicating strong market interest [24]. Industry News - The report mentions the release of the 2026 version of hazardous waste management guidelines, aimed at improving the classification and management of solid waste [35]. - It also highlights the recognition of zero-carbon factories in Henan Province, showcasing advancements in energy efficiency and environmental standards [36]. Key Announcements - The report includes performance forecasts for various companies, indicating significant expected growth for Huicheng Environmental and GaoNeng Environment due to their strong project pipelines and technological advancements [22][23].

每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 每经AI快讯，高能环境1月23日晚间发布公告称，截至本公告披露日，北京高能时代环境技术股份有限 公司控股股东、实际控制人李卫国先生持有公司股份约2.49亿股，约占公司总股本比例为16.33%。本次 办理部分股份解除质押后，李卫国先生累计质押股份数量为8941万股，约占其个人持有公司股份比例为 35.95%。 （记者 曾健辉） ...

证券代码：603588 证券简称：高能环境 公告编号：2026-006 北京高能时代环境技术股份有限公司 关于控股股东、实际控制人部分股份解除质押的公告 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： 截至本公告披露日，北京高能时代环境技术股份有限公司（以下简称"公 司"）控股股东、实际控制人李卫国先生持有公司股份 248,714,649 股，约占公 司总股本比例为 16.33%。本次办理部分股份解除质押后，李卫国先生累计质押 股份数量为 89,410,000 股，约占其个人持有公司股份比例为 35.95%。 | 持股比例 | 16.33% | | --- | --- | | 剩余被质押股份数量 | 89,410,000 股 | | 剩余被质押股份数量占其所持股份比例 | 35.95% | | 剩余被质押股份数量占公司总股本比例 | 5.87% | 本次解除质押股份暂无后续质押计划。李卫国先生后续将根据资金需求确定 是否继续质押其所持有的公司股份，并根据后续质押情况及时履行告知义务，公 司将及时予以披露。 二、 ...

南财智讯1月23日电，高能环境公告，公司控股股东、实际控制人李卫国先生于2026年1月22日将其质押 给国泰海通证券股份有限公司的3500.00万股无限售条件流通股解除质押。 ...

Core Viewpoint - The stock of GaoNeng Environment has shown a significant increase in price this year, with a 22.93% rise, while experiencing a slight decline of 2.06% on January 22. The company is involved in solid waste pollution prevention and has a diverse revenue stream from various environmental services [1]. Group 1: Stock Performance - As of January 22, GaoNeng Environment's stock price was 9.49 CNY per share, with a market capitalization of 14.455 billion CNY [1]. - The stock has increased by 6.75% over the last five trading days, 28.77% over the last 20 days, and 25.36% over the last 60 days [1]. - The net outflow of main funds was 2.5396 million CNY, with large orders showing a buy of 39.5918 million CNY and a sell of 35.0565 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, GaoNeng Environment reported a revenue of 10.16 billion CNY, a year-on-year decrease of 11.28%, while the net profit attributable to shareholders was 646 million CNY, reflecting a year-on-year increase of 15.18% [2]. - The company has distributed a total of 1.125 billion CNY in dividends since its A-share listing, with 839 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for GaoNeng Environment was 40,800, a decrease of 16.76% from the previous period, with an average of 37,370 circulating shares per person, an increase of 20.14% [2]. - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 46.9456 million shares, an increase of 17.8169 million shares compared to the previous period [3].

Core Perspective - The transformation of waste management in Beijing, exemplified by the Liulitun landfill turning into a recreational park, reflects China's shift from "end-of-pipe treatment" to "value creation" in the environmental industry, driven by dual goals of carbon neutrality and waste-free cities [1] Group 1: Technological Upgrades - Continuous technological breakthroughs are the core driver for realizing the potential value of waste, particularly in solid waste management [2] - Advanced technologies like waste incineration for energy generation allow for economic benefits, with valuable metals being recovered from incineration ash, maximizing the industrial value of household waste [2] - The integration of smart tools and lean management in waste processing facilities enhances operational efficiency and maximizes the economic benefits of individual power plants [3] Group 2: Industry Collaboration - Full industry chain collaboration is essential for maximizing value, with companies emphasizing the importance of synergy and intelligent systems in their operations [3] - The implementation of integrated urban sanitation and smart waste classification systems can lead to efficient waste collection and precise source classification, contributing to energy efficiency and reduced carbon emissions [4] Group 3: Policy Support - The transformation of waste into wealth is supported by government policies, such as the State Council's action plan for solid waste management, which aims for significant improvements by 2030 [5] - The environmental industry is undergoing a profound change from end-of-pipe treatment to value extraction throughout the entire process, driven by technological advancements and policy incentives [5] Group 4: Market Expansion - The overseas market is emerging as a new growth area for the industry, with companies adapting domestic waste management models to fit local regulations and cultural contexts [6] - Successful localization strategies involve precise adjustments of core technologies to meet the specific needs of target markets, ensuring effective performance in diverse environments [6] - The practice of transforming waste into valuable resources is reshaping the value logic of the environmental industry, aiming for a harmonious coexistence between humans and nature [6]

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]