格隆汇7月31日丨福龙马公告，公司2025年7月预中标河北省的环卫服务项目，首年服务费金额1272.08 万元，占公司2024年度经审计营业收入的0.25%。合同总金额为3816.25万元。截至公告披露日，公司本 年度环卫服务项目中标数26个，合计首年服务费金额为4.09亿元，合同总金额为11.7亿元。这将对公司 2025年及以后的经营业绩产生积极影响。公司在履行的环卫服务项目年化合同金额40.66亿元，合同总 金额335.46亿元。 ...

福龙马（603686）公告，公司2025年7月预中标河北省的环卫服务项目，首年服务费金额1272.08万元， 占公司2024年度经审计营业收入的0.25%。合同总金额为3816.25万元。截至公告披露日，公司本年度环 卫服务项目中标数26个，合计首年服务费金额为4.09亿元，合同总金额为11.7亿元。这将对公司2025年 及以后的经营业绩产生积极影响。公司在履行的环卫服务项目年化合同金额40.66亿元，合同总金额 335.46亿元。 ...

Group 1 - The establishment of Fulongma Environmental Services (Haikou Longhua) Co., Ltd. has been reported, with a registered capital of 100,000 yuan [1] - The legal representative of the company is Huang Biao, and it is fully owned by Fulongma [1] - The company's business scope includes urban household waste management services, construction waste disposal, and kitchen waste treatment, among other environmental services [1] Group 2 - The company is involved in various general business activities such as urban park management, municipal facility management, and environmental sanitation management [1] - It also engages in the sale of new energy vehicles, ship sales, and electric vehicle sales, indicating a diversification in its operations [1] - The company is required to operate under relevant licenses for its permitted business activities, ensuring compliance with regulatory standards [1]

Core Insights - The environmental governance sector experienced a decline of 0.51% on July 30, with ST New Power leading the drop [1] - The Shanghai Composite Index closed at 3615.72, up 0.17%, while the Shenzhen Component Index closed at 11203.03, down 0.77% [1] Stock Performance - Deep Water Haina (300961) closed at 19.77, up 5.10% with a trading volume of 365,900 shares and a transaction value of 712 million [1] - AVIC Teda (836263) closed at 16.80, up 3.32% with a trading volume of 73,400 shares and a transaction value of 122 million [1] - China Electric Environmental Protection (300172) closed at 5.72, up 3.25% with a trading volume of 536,300 shares and a transaction value of 304 million [1] - Green Ecological (002887) closed at 9.67, up 2.98% with a trading volume of 481,300 shares and a transaction value of 454 million [1] - Qianjiang Water Conservancy (600283) closed at 10.55, up 2.63% with a trading volume of 268,800 shares and a transaction value of 281 million [1] - Baichuan Changyin (300614) closed at 15.50, up 2.11% with a trading volume of 45,100 shares and a transaction value of 69 million [1] - Weili (300190) closed at 3.92, up 2.08% with a trading volume of 113,900 shares and a transaction value of 44 million [1] - Other notable stocks include Fulongma (603686) and Sandamembrane (688101) with respective increases of 1.42% and 1.36% [1] Capital Flow - The environmental governance sector saw a net outflow of 467 million from main funds, while retail funds experienced a net inflow of 266 million [3] - Speculative funds recorded a net inflow of 201 million [3]

Core Viewpoint - The Shanghai Health Industry Index has shown significant growth, reflecting the overall performance of major companies in the healthcare, food safety, and environmental sectors listed on the Shanghai Stock Exchange [2]. Group 1: Index Performance - The Shanghai Health Industry Index has increased by 4.93% over the past month, 8.76% over the past three months, and 7.27% year-to-date [2]. - The index is based on the largest 50 listed companies in relevant sectors, using an equal-weighted approach to represent the overall performance of health-related companies [2]. Group 2: Index Composition - The top ten weighted companies in the index include Shanghai Washba (3.12%), WuXi AppTec (2.5%), and others, with the total weight of these companies reflecting their significance in the index [2]. - The index is composed entirely of companies listed on the Shanghai Stock Exchange, with a sector breakdown showing 39.55% in healthcare, 29.68% in consumer goods, 24.70% in industrials, and 6.07% in utilities [2]. Group 3: Index Adjustment Mechanism - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [3]. - Each adjustment typically does not exceed 20% of the sample, and weight factors are fixed until the next scheduled adjustment unless special circumstances arise [3].

Group 1 - The metal recycling sector saw an increase of 2.08%, ranking fifth among concept sectors, with 50 stocks rising, including Nanmin Group, Jinyuan Co., and Huahong Technology hitting the daily limit [1][2] - Notable gainers in the sector included Huaxin Environmental Protection, Kaida Catalysis, and Northern Rare Earth, which rose by 15.05%, 10.67%, and 9.87% respectively [1][2] - The sector experienced a net inflow of 2.542 billion yuan from main funds, with 26 stocks receiving net inflows, and 9 stocks seeing inflows exceeding 50 million yuan [2][3] Group 2 - Northern Rare Earth led the net inflow with 2.109 billion yuan, followed by Huahong Technology, Jinyuan Co., and Fulongma with net inflows of 150.21 million yuan, 114 million yuan, and 81.686 million yuan respectively [2][3] - The top three stocks by net inflow ratio were Jinyuan Co. at 45.14%, Nanmin Group at 31.26%, and High Energy Environment at 16.33% [3][4] - The overall performance of the metal recycling sector was supported by significant trading volumes, with Northern Rare Earth achieving a turnover rate of 12.69% [3][4]

Group 1 - The core business of the company is engaged in intelligent equipment manufacturing and environmental industry ecological operation, with a wide range of products including various types of cleaning and waste management vehicles [2] - As of the first quarter of 2025, the company reported operating revenue of 1.164 billion yuan, a year-on-year decrease of 1.75%, and a net profit of 63.49 million yuan, a year-on-year decrease of 2.37%, with a gross profit margin of 22.52% [2] - The company's current price-to-earnings (PE) ratio is 45.81, with a total market value of 6.593 billion yuan, ranking 88th in the environmental industry, which has an average PE of 52.91 [1][3] Group 2 - As of the first quarter of 2025, there are 7 institutions holding shares in the company, with a total holding of 49.9652 million shares valued at 752 million yuan [1] - The company has received several honors, including "National Standard Five-Star After-Sales Service Enterprise" and "Top 10 After-Sales Service" [2] - The environmental industry has a median PE of 31.40, indicating that the company is trading at a premium compared to its peers [3]

Group 1 - CITIC Construction Investment has received approval from the China Securities Regulatory Commission to issue perpetual subordinated bonds with a total face value of no more than 20 billion yuan [1] - Bluefocus Technology has received a loan commitment of up to 900 million yuan from CITIC Bank for stock repurchase [1] - Huaren Pharmaceutical's subsidiary has received approval for the listing of Bumetanide raw materials, which are used to treat severe heart failure and hypertension emergencies [3] Group 2 - Betta Pharmaceuticals has received approval for the listing of Enasidenib capsules in Macau, aimed at treating ALK-positive locally advanced or metastatic non-small cell lung cancer [4] - Juewei Food plans to use 110 million yuan of idle fundraising for cash management, with an expected annual yield of 1.00%-1.89% [6] - China Huadian has successfully completed the issuance of 1 billion yuan medium-term notes with a coupon rate of 1.95% [9] Group 3 - Fosun Pharma's subsidiary has received a GMP certificate from the Belgian Federal Agency for Medicines and Health Products for the production facilities of two monoclonal antibodies [11] - China Nuclear Engineering has signed a civil engineering contract for the Taishan Nuclear Power Units 3 and 4 [13] - Kanglongda has faced administrative regulatory measures from the Zhejiang Securities Regulatory Bureau due to the failure of performance commitment parties to fulfill compensation obligations [15] Group 4 - Gaoling Information has received three invention patent certificates in the second quarter, covering various technological fields [16] - Weimais plans to use 190 million yuan of excess fundraising to increase capital in its subsidiary for building a new energy vehicle powertrain production base [17] - Huazhong Technology has received a project designation notice from a leading eVTOL manufacturer for the development and supply of an intelligent cockpit multimedia display system [19] Group 5 - Madi Technology expects a net profit of 25 million to 27 million yuan for the first half of 2025, marking a turnaround from a loss in the previous year [19] - Dazhong Mining's subsidiary has obtained a mining license for the Zhouyoufang Iron Mine, increasing production capacity to 6.5 million tons per year [20] - Zhongguancun's subsidiary has had its application for the listing of Arolol hydrochloride tablets accepted by the National Medical Products Administration [21] Group 6 - Tianhong Co. has signed a property management contract worth 15 million yuan with a local company [22] - Dong'an Power has secured nine new market designation agreements in the second quarter, with a projected total sales volume of 1.5 million units [24] - Zhujiang Co. has appointed Zhao Kun as the new deputy general manager [25] Group 7 - Jinyi Industrial has won a bid for a project worth 335 million yuan from the China Railway Shanghai Bureau Group [26] - Kangchen Pharmaceutical has received a clinical trial notification for its innovative drug KC1086, aimed at treating advanced solid tumors [27] - Changhua Group has received a project designation notice from a new energy vehicle company, with an expected total sales amount of 970 million yuan [29] Group 8 - Lingxiao Pump Industry plans to use 60 million yuan of idle funds to purchase financial products [31] - Mould Technology has received a project designation for exterior parts from a well-known North American electric vehicle company, with an expected total sales of 1.236 billion yuan [34] - Fulongma has pre-bid for five sanitation service projects in June, with a total contract amount of 181 million yuan [35] Group 9 - Changchun High-tech plans to issue H-shares and list on the Hong Kong Stock Exchange [36] - *ST Yuancheng is under investigation by the CSRC for suspected false financial disclosures [37] - Beilu Pharmaceutical's subsidiary has received approval for the listing of Iopamidol raw materials [38] Group 10 - Zhejiang Liming's shareholder plans to reduce their stake by up to 2.93% [39] - Zhejiang Liming's actual controller has committed not to reduce their holdings within a year [40] - SAIC Motor reported a total vehicle sales of 2.0526 million units in the first half of 2025, a year-on-year increase of 12.35% [41] Group 11 - Xinhongcheng expects a net profit increase of 50%-70% for the first half of 2025 [42] - Xianhe Co. plans to invest 11 billion yuan in a bamboo pulp paper integrated project [42] - Great Wall Motors reported a total vehicle sales of 569,800 units in the first half of 2025, a year-on-year increase of 1.81% [43] Group 12 - Dongfeng Co. received a government subsidy of 10 million yuan [44] - Zhongke Environmental Protection has acquired two water environmental companies in Guangxi for a total of 353 million yuan [45] - Anji Food's H-share public offering is priced at 60 Hong Kong dollars per share [46]

Summary of Key Points Core Viewpoint The company, Fulongma Group Co., Ltd., is utilizing its idle funds for cash management in 2025, focusing on high-security, liquid, and low-to-medium risk financial products to enhance fund efficiency and returns for shareholders. Group 1: Overview of Cash Management - The purpose of the entrusted financial management is to improve the efficiency of fund usage while ensuring the normal operation of the company's main business and daily operational funding needs [1][2] - The maximum amount for cash management is set at RMB 1 billion, with the company authorized to invest in medium-risk or lower-rated financial products [24] Group 2: Financial Products and Management - The company has entrusted financial management to reputable banks including China Merchants Bank, Industrial Bank, and China Postal Savings Bank [1][22] - The highest single-day entrusted financial management amount this quarter reached RMB 351.08 million, accounting for 58.83% of the company's cash as of March 31, 2025 [23] - The financial products selected are characterized as high-security and liquid, ensuring they do not adversely affect the company's main business or financial status [23] Group 3: Financial Product Details - Various financial products are being utilized, including: - Xinyin Wealth Management's Stable Income Product - Nanyin Wealth Management's Cash Management Product - Zhongyou Wealth Management's Flexible Product with a minimum holding period of 14 days [1][4][5] - The expected annualized returns for these products range from 1.65% to 3.00% depending on the specific product and class of shares [6][9][18] Group 4: Risk Control Measures - The company has established internal controls for risk management, including timely analysis and tracking of cash management products, and audits by the audit department [5][22] - The company emphasizes the separation of duties in investment operations to enhance security and confidentiality [6][22] Group 5: Financial Performance Indicators - As of December 31, 2024, the total assets were approximately RMB 6.74 billion, with total liabilities of about RMB 3.01 billion, resulting in net assets of around RMB 3.34 billion [23] - The financial management activities are not expected to negatively impact the company's future main business, financial condition, or cash flow [23]

Core Viewpoint - 福龙马集团股份有限公司 has established several wholly-owned subsidiaries in Shandong, Jiangxi, and Hainan provinces to expand its environmental services business, particularly in urban waste management and related services [1][2][3]. Group 1: Investment Matters - The company has registered 龙环环境服务（聊城东昌府区）有限公司 with a registered capital of 3 million RMB, focusing on urban waste management services [1]. - 福龙马环境服务（乐安）有限公司 has been established with a registered capital of 6 million RMB, offering a broader range of services including urban construction waste disposal and road maintenance [2][3]. - 福龙马（海南）国际贸易有限公司 has been set up with a registered capital of 10 million RMB, engaging in various services including waste management, import/export activities, and supply chain management [3]. Group 2: Company Structure - All newly established subsidiaries are wholly owned by 福建福龙马环境服务有限公司, which has contributed the entire registered capital for each entity [1][2][3].