证券代码：603588 证券简称：高能环境 公告编号：2024-090 关于调整经营范围并修订《公司章程》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。 北京高能时代环境技术股份有限公司（以下简称"公司"）于 2024 年 11 月 11 日召开第五届董事会第三十四次会议，审议通过了《关于调整经营范围并 修订<公司章程>的议案》，同意调整公司的经营范围并修订《北京高能时代环境 技术股份有限公司章程》（以下简称"《公司章程》"）并办理工商变更登记。 现将有关事项公告如下： 一、调整经营范围 根据公司经营发展需求，拟对公司经营范围进行调整，详情如下： 原经营范围"一般项目：技术服务、技术开发、技术咨询、技术交流、技术 转让、技术推广；固体废物治理；土壤污染治理与修复服务；地质灾害治理服务； 水污染治理；环境保护专用设备制造；环境保护专用设备销售；以自有资金从事 投资活动；金银制品销售；金属材料销售；有色金属合金销售；机械设备销售； 汽车销售；新能源汽车整车销售；小微型客车租赁经营服务；机械设备租赁；再 生资源回收（除生产性 ...

北京高能时代环境技术股份有限公司 章程 二零二四年十一月 | 第一章 | 总 | 则 | 2 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和经营范围 | 3 | | 第三章 | 股份 | | 3 | | 第一节 | | 股份发行 | 3 | | 第二节 | | 股份增减和回购 | 5 | | 第三节 | | 股份转让 | 7 | | 第四章 | | 股东和股东大会 | 8 | | 第一节 | | 股东 | 8 | | 第二节 | | 股东大会的一般规定 | 10 | | 第三节 | | 股东大会的召集 | 14 | | 第四节 | | 股东大会的提案与通知 | 15 | | 第五节 | | 股东大会的召开 | 16 | | 第六节 | | 股东大会的表决和决议 | 19 | | 第五章 | | 董事会 | 23 | | 第一节 | | 董事 | 23 | | 第二节 | | 董事会 | 28 | | 第六章 | | 总裁及其他高级管理人员 | 38 | | 第七章 | | 监事会 | 41 | | 第一节 | | 监事 | 41 | | 第二节 | | 监事会 | 42 ...

证券代码：603588 证券简称：高能环境 公告编号：2024-088 北京高能时代环境技术股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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： 会议召开时间：2024年11月13日（星期三）上午10:00-11:00 会议召开地点： 上海证券交易所 上证路演中心（ 网 址 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于2024年11月6日(星期三)至11月12日(星期二)16:00前登录上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 （stocks@bgechina.cn）进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 北京高能时代环境技术股份有限公司（以下简称"公司"）已于2024年10 月25日发布公司2024年第三季度报告，为便于广大投资者更全面深入地了解公司 2024年第三季度的经营成果、财务状况，公司计划于 ...

证券代码：603588 证券简称：高能环境 公告编号：2024-087 北京高能时代环境技术股份有限公司 关于为全资子公司及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： 靖远高能环境新材料技术有限公司（以下简称"靖远高能"），均非上市公司 关联人。 本次担保金额及已实际为其提供的担保余额： 本次为杭州新材料担保债权本金金额不超过人民币 10,000 万元，为续授信 担保额度； 本次为高能鹏富担保金额不超过人民币 10,500 万元，为新增授信担保额度； 本次为靖远高能担保金额不超过人民币 11,500 万元，为续授信担保额度。 截至 2024 年 10 月 28 日，北京高能时代环境技术股份有限公司（以下简称 "公司"）实际为杭州新材料提供担保余额为 20,561.71 万元，为高能鹏富提供 担保余额为 59,645 万元，为靖远高能提供担保余额为 85,645 万元。 特别风险提示：经审议通过的公司及控股子公司对外担保总额为 1,304,807.87 万元，占公司最近一期经审计归属 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 7.53 CNY, indicating an expected return of over 20% within the next six months [6][4]. Core Views - The company achieved a revenue of 11.451 billion CNY in the first three quarters of 2024, representing a year-on-year growth of 52.88%, while the net profit attributable to the parent company was 561 million CNY, a decrease of 14.69% [1]. - The resource utilization business is expected to benefit from favorable national policies, enhancing the long-term development of the company's hazardous waste resource utilization business [3]. - The report highlights that despite revenue growth, the company's profit margins are under pressure due to high operating costs and reduced orders in the engineering segment [2]. Financial Performance Summary - For 2024, the company is projected to achieve a net profit of 653.85 million CNY, with a year-on-year growth of 29.57%, and an EPS of 0.43 CNY [4][5]. - The revenue forecast for 2024 is 15.3 billion CNY, reflecting a growth rate of 44.61% compared to 2023 [5]. - The company's financial ratios indicate a P/E ratio of 12.42 for 2024, which is expected to decrease to 7.69 by 2026 [5][10]. Industry Outlook - The hazardous waste resource utilization sector is gaining attention from the government, with recent policy changes aimed at promoting resource recycling and utilization [3]. - The establishment of the China Resource Recycling Group and the new regulations on the import of recycled materials are expected to create a favorable environment for the company's operations [3].

%% %% 丨证券研究报告丨 公司研究丨点评报告丨高能环境（603588.SH） [Table_Title] 高能环境 2024Q3 点评：归母业绩同比降 11.2%，期待项目稳定运营 | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 报告要点 | | | [Table_Summary] 高能环境发布 2024 年三季报， Q3 营收 39.05 亿元，同比增长 29.25% ；归母净利润 1.45 亿 | | | 元，同比降低 11.23% ；扣非归母净利润 0.52 亿元，同比降低 63.28% ...

证券研究报告·公司点评报告·环境治理 高能环境（603588） 2024 三季报点评：工程下滑+资源化价格影 响季度业绩，期待资源化拐点 2024 年 10 月 27 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|--------|---------|--------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 8774 | 10580 | 14325 | 16462 | 18737 | | 同比（ % ） | 12.11 | 20.58 | 35.39 | 14.92 | 13.82 | | 归母净利润（百万元） | 692.48 | 504.64 | 929.16 | 1,104.92 | 1,285.57 | | 同比（ % ） | (4.65) | (27.13) | 84.12 | 18.92 | 16.35 | | EPS- 最新 ...

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Insights - The company experienced significant revenue growth of 52.9% year-on-year, reaching 11.45 billion yuan in the first three quarters of 2024, while the net profit attributable to shareholders decreased by 14.7% to 560 million yuan [1] - The decline in net profit is attributed to a decrease in the engineering segment's orders and increased financial expenses due to higher financing costs and exchange losses [1] - The company has improved its cash flow significantly, with a net operating cash flow of 220 million yuan, a substantial increase of 1.42 billion yuan year-on-year [1] - The resource recycling projects, particularly the Jiangxi Xinke project, are expected to enhance production capacity and profitability, with an internal rate of return projected at no less than 19.13% [1] - The environmental operation segment remains stable, with 13 waste incineration power projects currently in operation, achieving a daily processing capacity of 11,000 tons [1] Financial Performance Summary - Revenue for 2024 is projected to reach 15.896 billion yuan, with a year-on-year growth rate of 50.2% [2] - The net profit for 2024 is estimated at 783 million yuan, reflecting a year-on-year growth of 55.1% [2] - The company’s earnings per share (EPS) is expected to be 0.51 yuan for 2024, with a price-to-earnings (P/E) ratio of 10.2 [2] - The gross margin for the first three quarters of 2024 was 14.0%, down 4.9 percentage points year-on-year, while the net margin was 5.7%, down 3.6 percentage points year-on-year [1] Market Position and Outlook - The company is positioned as a leading player in the solid waste disposal sector, with significant advantages in the metal enrichment industry chain and technology [1] - The report anticipates continued high growth in performance due to effective management capabilities and the ongoing development of resource recycling projects [1]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 9.11 RMB, unchanged from the previous rating [2][5] Core Views - The company's performance is temporarily under pressure due to reduced engineering profits and raw material price fluctuations, but improvement is expected in Q4 [1][5] - Revenue growth is driven by increased sales from Jiangxi Xinke and Jingyuan High Energy, while net profit decline is attributed to reduced engineering income, increased financial expenses, and lower material sector profits [5] - The resource recycling sector, including Xinke and Pengfu, is operating normally despite being affected by metal price fluctuations [5] Financial Performance - Q3 2024 revenue reached 3.905 billion RMB, up 29% YoY, but net profit attributable to shareholders fell 11% YoY to 145 million RMB [5] - Gross margin for Q3 2024 was 13.33%, down 0.54 percentage points QoQ, while net profit margin was 4.77%, down 0.92 percentage points QoQ [5] - Operating cash flow improved significantly, with net operating cash flow of 219 million RMB for the first three quarters of 2024, compared to -1.198 billion RMB in the same period last year [5] Business Operations - Jiangxi Xinke achieved full production capacity in the first half of 2024, completing its front-end and back-end integrated industrial chain layout [5] - Chongqing Yaohui completed technical upgrades in February 2024, expanding its range of usable raw materials [5] - Jinchang High Energy started production in April 2024 and is expected to achieve multi-metal recovery in the second half of the year [5] Financial Forecasts - The report maintains forecasts for 2024-2026 net profits at 908 million, 997 million, and 1.084 billion RMB respectively, with corresponding EPS of 0.59, 0.65, and 0.71 RMB [5] - Revenue is expected to grow from 13.723 billion RMB in 2024E to 17.495 billion RMB in 2026E, with a CAGR of 12.2% [9] - ROE is projected to increase from 9.1% in 2024E to 9.5% in 2026E [9] Valuation Metrics - Current P/E ratio is 8.66x for 2024E, with a forward P/E of 7.88x for 2025E and 7.25x for 2026E [9] - The company trades at a P/B ratio of 0.8x, below the industry median of 1.43x [4][11] - EV/EBITDA is expected to decline from 8.94x in 2024E to 7.57x in 2026E [10]

上 市 公 司 证 券 研 究 报 告 环保 2024 年 10 月 25 日 高能环境 (603588) ——工程板块承压及铜价下降影响，Q3 业绩低于预期 | --- | --- | |------------------------------------|-------------------------------| | 市场数据： | 2024 年 10 月 24 日 | | 收盘价（元） | 5.12 | | 一年内最高 / 最低（元） | 8.12/4.21 | | 市净率 | 0.8 | | 息率（分红 / 股价） | 8.40 | | 流通 A 股市值（百万元） | 7,799 | | 上证指数 / 深证成指 | 3,280.26/10,441.75 | | 注："息率"以最近一年已公布分红计算 | | | --- | --- | |---------------------------------|--------------------------------------| | 基础数据 : \n每股净资产（元） | 2024 年 09 月 30 日 \n6.29 | | 资产负债率 ...