大家好欢迎参加东移环保公用环卫无人系列深度一小墩位环卫无人设备经济性渐进订单成散点放量趋势目前所有参会者均处于静音状态下面开始播报声明播报完毕后主持人可直接开始发言谢谢 动物证券研究所提醒您本次电话会议即面向机构投资者或受邀客户第三方专家发言内容仅代表其个人观点所有信息或所表述的意见均不构成对具体证券在具体价位具体时点具体市场表现的判断或投资建议未经合法授权严禁录音转发及相关解读涉嫌违反上述情形的 也就是说如果替代掉他们的话可能会对保就业形成一定的压力关于这一点我们认为可能是要区分短期和长期的一个问题虽然说短期是有这样的一个就业刚需的一个情况但是从长期来看不得不明确的一个点或者说我相信大家也都认同的一个点就是长期的老龄化的趋势会使得环卫服务这个行业会越来越缺人的 就是并不是一个淘汰人的概念而是这个行业的发展随着时间的推移里老龄化的这个矛盾就会越来越突出那么老龄化之后只会产生两个结果因为我们知道现在很多的青少的工作人员他确实年纪都是在这个比较大的状况上的所以老龄化之后要么就是这个行业无人可用了年轻人不来做这份工作 或者是这份工作的报酬会显著的上升因为是由供需关系决定的那公司水平上升对环卫服务企业会造成很大的压力 ...

（编辑 任世碧） 证券日报网讯 8月13日晚间，福龙马发布公告称，截至本公告披露日，公司及控股子公司实际正在履行 的担保余额为228，573，098.20元，占公司最近一期经审计净资产的6.84%，均为公司对合并报表范围 内子公司提供的担保，均未超过公司授权的担保额度。控股子公司未对外提供担保。以上担保均符合中 国证监会的有关规定，公司不存在为子公司以外的担保对象提供担保的情形，公司及子公司无逾期担保 情况，亦无为股东、实际控制人及其关联方提供担保的情况。 ...

（文章来源：证券日报） 证券日报网讯 8月13日晚间，福龙马发布公告称，公司将于2025年8月25日通过网络平台在线交流互动 方式召开2025年半年度业绩说明会。 ...

证券代码：603686 证券简称：福龙马 公告编号：2025-042 重要内容提示： 会议召开时间：2025 年 8 月 25 日（星期一）15:00-16:00 福龙马集团股份有限公司 关于召开 2025 年半年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个别及连带责任。 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 8 月 21 日（星期四）至 8 月 24 日（星 期日）15:00 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（investor@fjlm.com.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。 福龙马集团股份有限公司（以下简称"公司"）将于 2025 年 8 月 23 日在上海证券交易所网站（www.sse.com.cn）及《上 海证券报》披露公司 2025 年半年度报告。为了增强与投资者的 交流，方便投资者更好地了解公司 202 ...

证券代码：603686 证券简称：福龙马 公告编号：2025-043 福龙马集团股份有限公司 关于 2025 年度为子公司提供担保的进展情况 公告（三） 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 担个别及连带责任。 重要提示： ●被担保人名称：六枝特区龙马环境工程有限公司（以下简 称"六枝特区龙马"）、福龙马环境服务（福州仓山）有限公司 （以下简称"仓山福龙马"） ●本次担保金额及已实际为其提供的担保余额：本次为六枝 特区龙马和仓山福龙马分别担保金额为人民币不超过 500 万元 和 148.69 万元。截至本公告披露日，公司已实际为六枝特区龙 马提供的担保余额不超过 15,584.48 万元（含本次），为仓山福 龙马提供的担保余额不超过 806.17 万元（含本次），均未超过 公司股东大会授权的担保额度。 ●本次担保是否有反担保：否 ●对外担保实际正在履行余额：截至本公告披露日，公司及 子公司对外担保实际正在履行余额为 228,573,098.20 元，占最近 一期经审计净资产的 6.84%，系公司为合并报表范围内子公司提 供的担保 ...

Summary of the Conference Call on the Sanitation Industry Industry Overview - The sanitation industry is facing challenges such as aging workforce and rising labor costs, making automation technology a pressing need for long-term development. The market size for sanitation equipment is expected to reach 200 billion yuan [1][5][15]. Key Insights and Arguments - In the first half of 2025, the number of projects applying for unmanned sanitation equipment exceeded 90, doubling from 2024, with an expected industry growth rate of 130% for the year, primarily driven by policy support [1][6]. - Unmanned technology significantly enhances corporate performance, with some companies experiencing performance elasticity exceeding 70%. Beneficiaries include companies like Fulongma, Jinjing Environment, Qiaoyin Co., and Yuhua Tian [1][7]. - Small-tonnage intelligent sanitation equipment (under 3 tons) is suitable for closed or semi-closed environments, capable of replacing 2-3 workers. Initial pricing at 300,000 yuan can achieve economic parity in 3-4 years, while a reduction to 200,000 yuan accelerates this to 2-3 years [1][13]. - Large-tonnage L4 unmanned sanitation vehicles (over 6 tons) are designed for open municipal roads, with initial costs around 1 million yuan. Economic viability is not apparent in the short term and requires a price drop to around 600,000 yuan to achieve economic parity in 2-3 years [1][13]. Market Potential - The current operational ratio of unmanned equipment is estimated at 20%, with the small equipment market space around 57.5 billion yuan and large equipment around 76.1 billion yuan, totaling over 100 billion yuan. In a neutral optimistic scenario, the market could reach 200-250 billion yuan [1][15]. - The sanitation unmanned equipment market is expected to approach 10 billion yuan by 2025, with major players including Fulongma, Jingyu, Qiaoyin, Yuhua Tian, Yufeng, and Yutong [2][15]. Current Application Status - By 2024, 82 projects were mandated to apply unmanned sanitation equipment, with over 90 projects in the first half of 2025, indicating a doubling growth rate. Key cities like Guangzhou and Shenzhen have policies requiring smart equipment in environmental service contracts [6][9]. Economic Impact on Companies - The introduction of small-tonnage unmanned equipment significantly impacts operational profitability. For instance, Fulongma shows a 177% elasticity in operational profit contribution, followed by Yuhua Tian at 85% and Qiaoyin at 72% [19]. Development Trends - The sanitation industry is undergoing a necessary upgrade from electrification to automation and unmanned technology. The aging workforce and rising labor costs necessitate this shift, with policies driving the adoption of unmanned orders [8][25]. - The market space is substantial, and the industry is at a critical juncture for adopting unmanned technology, with significant policy support from major cities [15][25]. Company Progress - Companies like Yinfeng Environment and Yutong Heavy Industry have made significant advancements in unmanned sanitation technology, with product launches and pilot applications in major cities [17][18]. Conclusion - The sanitation unmanned equipment market is poised for significant growth, driven by policy support and technological advancements. Companies that adapt to this trend are likely to benefit from enhanced operational efficiency and reduced costs, making it a crucial area for investment and development in the coming years [27].

Group 1 - The stock price of Fulongma as of August 8, 2025, is 17.43 yuan, down 1.02% from the previous trading day [1] - The stock opened at 17.50 yuan, reached a high of 18.20 yuan, and a low of 17.33 yuan, with an overall fluctuation of 4.94% throughout the day [1] - The trading volume was 397,200 hands, with a transaction amount of 700 million yuan, resulting in a turnover rate of 9.56% [1] Group 2 - Fulongma's main business includes the manufacturing of sanitation equipment, sanitation service operations, and waste classification [1] - The company's products consist of sanitation cleaning equipment, waste transfer equipment, and new energy sanitation equipment, along with urban and rural environmental sanitation system planning and design services [1] - During the morning trading session on August 8, the stock experienced a quick rebound, with a rise of over 2% within 5 minutes, peaking at 17.87 yuan [1] Group 3 - On the same day, the net outflow of main capital was 73.473 million yuan, with a cumulative net outflow of 115 million yuan over the past five trading days [1]

Core Viewpoint - The report highlights the accelerating growth of orders for automated sanitation equipment, indicating a trend of scattered volume increase in the market for unmanned sanitation solutions [1][4]. Investment Highlights - The automation and intelligence of urban sanitation operations are achieved through unmanned equipment, categorized into small-tonnage and large-tonnage devices, as well as humanoid robots for closed-loop scenarios [2]. - Small-tonnage unmanned devices are expected to be more economical, with one unit plus one operator potentially replacing 3-4 workers, leading to significant cost savings [2]. - The market for unmanned sanitation equipment is projected to reach a scale of hundreds of billions, with varying estimates based on the adoption rate of unmanned operations [3]. Market Space Estimation - The market space for small and large-tonnage unmanned devices is estimated at 575 billion to 1,522 billion yuan, depending on the adoption rate of 20%, 30%, or 40% [3]. - The report emphasizes the need for active participation and strategic positioning by various stakeholders in the unmanned sanitation sector to address labor shortages and enhance mechanization rates [4]. Order Growth and Trends - The number of awarded projects for automated sanitation is expected to increase significantly, with 82 projects worth 4.87 billion yuan in 2024 and over 90 projects worth 5.58 billion yuan in the first half of 2025 [1][4]. - The estimated total for awarded projects in 2025 is projected to exceed 180, with a total value of approximately 11.16 billion yuan, reflecting a year-on-year growth of about 129% [1][4]. Economic Analysis - The economic viability of small-tonnage unmanned devices is highlighted, with a price point of 300,000 yuan per unit, which could become economically advantageous as prices decrease to 200,000 yuan [2]. - Large-tonnage unmanned vehicles currently lack economic feasibility but could become viable if prices drop to 600,000 yuan [2]. Company Participation - Various companies are actively developing and deploying unmanned sanitation solutions, including 盈峰环境, 宇通重工, 福龙马, and others, indicating a robust competitive landscape [4]. - The report suggests that the transition to unmanned sanitation will help companies reduce costs and increase profitability, with projected performance elasticity for several companies ranging from 76% to 296% [5].

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1] Core Viewpoints - The automation and intelligence of urban sanitation operations are being achieved through unmanned sanitation equipment, which can be categorized into small-tonnage, large-tonnage, and humanoid robots [4][10] - Small-tonnage unmanned equipment is expected to be more economical and will likely see earlier market adoption [4][13] - The market potential for unmanned sanitation and driving equipment is estimated to reach a trillion yuan level, with various scenarios predicting market sizes ranging from 575 billion to 1,522 billion yuan depending on the adoption rates [4][15] - The industry is actively engaging in the layout of intelligent and unmanned solutions, addressing labor shortages and aging workforce issues in the sanitation sector [4][18] - Orders for unmanned sanitation equipment are accelerating, showing a trend of scattered volume growth, with significant government contracts [4][40] Summary by Sections 1. Automation and Intelligence in Sanitation - Unmanned sanitation equipment utilizes advanced technologies for automation and intelligence, categorized into small-tonnage, large-tonnage, and humanoid robots [10] - Small-tonnage equipment serves semi-enclosed areas, while large-tonnage equipment is designed for open environments [12] 1.2 Economic Analysis - Small-tonnage unmanned equipment can replace 3-4 workers, with a current price of around 300,000 yuan, becoming economically viable as prices drop to 200,000 yuan [13] - Large-tonnage unmanned vehicles currently lack economic viability but could become competitive if prices decrease to 600,000 yuan [13] 1.3 Market Potential - The market for unmanned sanitation equipment is projected to be substantial, with estimates of 575 billion yuan under conservative assumptions and up to 1,522 billion yuan under optimistic scenarios [15] 2. Active Participation in Unmanned Solutions - Various companies are actively developing and deploying unmanned sanitation solutions, addressing labor challenges and enhancing mechanization rates [18][19] 3. Order Growth Trends - The number of contracts for unmanned sanitation projects is increasing, with projections indicating a 129% year-on-year growth in total contract value for 2025 [40][41]

金融界消息 截至2025年8月5日收盘，福龙马（603686）报收于17.35元，上涨0.23%，换手率9.68%，成 交量40.21万手，成交金额6.98亿元。 天眼查商业履历信息显示，福龙马集团股份有限公司，成立于2007年，位于龙岩市，是一家以从事专用 设备制造业为主的企业。企业注册资本41543.0404万人民币，实缴资本10000万人民币。公司法定代表 人为张西泠。 通过天眼查大数据分析，福龙马集团股份有限公司共对外投资了67家企业，参与招投标项目5000次，知 识产权方面有商标信息98条，专利信息861条，此外企业还拥有行政许可166个。 资金流向方面，今日主力资金净流出1892.56万元，占比成交额2.71%。其中，超大单净流出2536.20万 元、占成交额3.63%，大单净流入643.63万元、占成交额0.92%，中单净流出流出3032.15万元、占成交 额4.34%，小单净流入4924.71万元、占成交额7.05%。 来源：金融界 福龙马最新一期业绩显示，截至2025一季报，公司营业总收入11.64亿元、同比减少1.75%，归属净利润 6349.03万元，同比减少2.37%，扣非净利润626 ...