证券代码：605368 证券简称：蓝天燃气 公告编号：2026-006 债券代码：111017 债券简称：蓝天转债 河南蓝天燃气股份有限公司 关于控股股东部分股份被冻结、轮候冻结的公告 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。 一、本次股份被冻结基本情况 二、股东股份累计被冻结情况 注： 累计冻结数量未包含轮候冻结数量。蓝天集团及其一致行动人李新华累计轮 候冻结数量 249,302,039 股，占蓝天集团及其一致行动人李新华合计持有公司股 份比例为 67.89%，占公司总股本比例为 34.89%。 三、其他说明 重要内容提示: 公司于近日通过中国证券登记结算有限责任公司上海分公司系统查询 获悉，公司控股股东蓝天集团所持有的公司股份被冻结、轮候冻结，具体情 截至本公告披露日，河南蓝天燃气股份有限公司（以下简称"公司"）控股 股东河南蓝天集团股份有限公司（以下简称"蓝天集团"）持有公司 320,442,340 股（均为无限售条件流通股），占公司总股本的 44.84%。本次 被冻结股份为 42,800,000 股，占其所持公司 ...

证券研究报告·行业跟踪周报·环保 环保行业跟踪周报 光大环境 25 年业绩&分红大增；龙净环保 25 年业绩大增 34%还原减值影响增速更快 增持（维持） [投资要点 Table_Summary] 2026 年 03 月 23 日 证券分析师 袁理 证券分析师 陈孜文 执业证书：S0600523070006 chenzw@dwzq.com.cn 研究助理 田源 执业证书：S0600125040008 tiany@dwzq.com.cn 行业走势 -12% -8% -4% 0% 4% 8% 12% 16% 20% 24% 2025/3/24 2025/7/22 2025/11/19 2026/3/19 环保 沪深300 相关研究 《垃圾焚烧稀缺绿电，现金流&绿色 价值大增，SAF 级 UCO 价格持续抬 升》 2026-03-16 《2026 年政府工作报告学习：加快推 动全面绿色转型，构建新型电力系统 发展未来能源》 执业证书：S0600511080001 021-60199782 yuanl@dwzq.com.cn 2026-03-10 东吴证券研究所 1/33 请务必阅读正文之后的免责声明部分 [Tabl ...

证券代码：605368 证券简称：蓝天燃气 公告编号：2026-005 债券代码：111017 债券简称：蓝天转债 投资者关系管理部门：证券部 联系电话：0396-3811051 传真：0396-3835000 电子邮箱：ltrq2017@126.com 河南蓝天燃气股份有限公司 关于变更投资者联系地址的公告 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。 河南蓝天燃气股份有限公司（以下简称"公司"）部分员工于近日迁入新办 公场所，为方便对外联络和工作交流，进一步做好投资者管理工作，现将投资者 联系地址变更情况公告如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 办公地址 | 河南省驻马店市解 河 | 南 省 驻 马 店 市 驿 城 大 道 | | | 放路 68 号 1516 | 号蓝天世贸中心 A 座 | 除联系地址变更外，公司联系电话，传真、电子邮箱等其他投资者联系方式 均未发生变化，具体联系信息为： 上述联系地址自本公告披露之日起正式启用，敬请投资者注意。 特此公告。 河南蓝 ...

Investment Rating - The report maintains a rating of "Add" for the environmental protection industry [1]. Core Insights - The 2026 government work report emphasizes accelerating the comprehensive green transformation and constructing a new energy system, with a target of reducing carbon emissions per unit of GDP by 3.8% [9][10]. - Companies such as Weiming and Wangneng have successfully won contracts for waste incineration projects in Indonesia, marking a significant step for solid waste management overseas [16][17]. - The report highlights the growth potential in the environmental protection sector driven by policy support and economic validation, particularly in areas like waste incineration and electric sanitation vehicles [25][30]. Summary by Sections Government Policy Insights - The 2026 government work report outlines a shift from energy consumption control to carbon emission control, with specific targets for reducing carbon emissions per unit of GDP [9][10]. - The report also introduces a national low-carbon transition fund to foster new growth points in hydrogen and green fuels, marking a significant policy shift [11][12]. Company Developments - Weiming Environmental has been awarded a contract for a 1500 tons/day waste incineration project in Bali, Indonesia, with a 30-year operational period [16][17]. - Wangneng Environmental has also secured a similar project in Indonesia, indicating a growing trend of Chinese companies expanding into international waste management markets [18][19]. Industry Trends - The report notes a significant increase in the sales of electric sanitation vehicles, with a year-on-year growth of 70.9% and a penetration rate of 21.11% in 2025 [30][31]. - The prices of biofuels, including biojet fuel and biodiesel, have remained stable, indicating a steady market environment for these products [41][42]. Investment Recommendations - The report recommends focusing on companies with strong growth potential in the environmental sector, such as Longjing Environmental, Green Power, and others involved in waste management and renewable energy [25][26].

Investment Rating - The report maintains a "Buy" rating for the environmental protection industry [1]. Core Insights - The 2026 government work report emphasizes accelerating the comprehensive green transformation and constructing a new energy system, with a target of reducing carbon emissions per unit of GDP by 3.8% [9][10]. - Companies like Weiming and Wangneng have successfully won contracts for waste incineration projects in Indonesia, marking a significant step for Chinese firms in the overseas waste management market [16][17]. - The report highlights the increasing demand for low-emission transformations in key industries such as cement and coking, with specific targets set for 2026 [21][22]. Summary by Sections Government Policy and Industry Trends - The government aims to transition from energy consumption control to carbon emission control, with a target of reducing carbon emissions per unit of GDP by 3.8% in 2026 [9]. - The establishment of a national low-carbon transition fund is intended to foster new growth points in hydrogen and green fuels, with green fuels being included in the government work report for the first time [11][12]. Company Developments - Weiming Environmental has been awarded a contract for a 1500 tons/day waste incineration project in Bali, Indonesia, with a 30-year operational period [16]. - Wangneng Environment has also secured a similar project in Indonesia, indicating a robust market potential for waste-to-energy solutions in the region [17][18]. Market Performance and Recommendations - The report recommends focusing on companies such as Longjing Environmental, High Energy Environment, and Saince, which are expected to benefit from the ongoing green transformation and policy support [4]. - The environmental sanitation equipment sector is projected to see significant growth, with a 70.9% increase in sales of new energy sanitation vehicles in 2025 [30][31]. Biofuels and Recycling - Biofuel prices remain stable, with European biojet fuel averaging $2250 per ton and Chinese biojet fuel at $2150 per ton [41]. - The report notes a decrease in lithium and cobalt prices, which may enhance profitability in the lithium battery recycling sector [42].

证券日报网讯 2月26日，蓝天燃气在互动平台回答投资者提问时表示，公司积极推动居民气的顺价工 作，尤其是经营的核心区域驻马店地区的顺价调整申请已向当地政府提交，等待驻马店市政府批准后执 行。 （文章来源：证券日报） ...

证券日报网讯 2月24日，蓝天燃气在互动平台回答投资者提问时表示，截至2026年2月13日，公司普通 股股东总数36469户。 （文章来源：证券日报） ...

Investment Rating - The report maintains an "Overweight" rating for the gas industry [1] Core Insights - The report highlights that warmer weather and tensions in the US-Iran situation have led to a decline in US gas prices, while European gas prices have seen a slight increase [5][10] - It notes that the domestic gas prices remain stable during the Spring Festival holiday, with a year-on-year increase in China's apparent gas consumption of 2.3% to 433.2 billion cubic meters in 2025 [28] - The report emphasizes the ongoing progress in price adjustment mechanisms across cities, which is expected to enhance profitability and valuation recovery for city gas companies [40] Price Tracking - As of February 20, 2026, the week-on-week changes in gas prices are as follows: US HH down 3.4%, European TTF up 1.1%, East Asia JKM up 1.4%, and China's LNG ex-factory price stable at 2.5 yuan/cubic meter [10][12] - The report indicates that the US gas market price has decreased due to warmer weather, with storage levels dropping by 1.5% year-on-year [15][17] Supply and Demand Analysis - The report states that European gas consumption from January to November 2025 was 396.4 billion cubic meters, reflecting a year-on-year increase of 3.5% [17] - It also mentions that the average daily gas generation in Europe has decreased significantly, with a week-on-week drop of 34.1% and a year-on-year decline of 61.9% [17] Investment Recommendations - The report recommends focusing on city gas companies that are optimizing costs and promoting price adjustments, highlighting companies such as Xinao Energy, China Resources Gas, and Kunlun Energy [52] - It suggests paying attention to companies with quality long-term contracts and flexible scheduling, such as Jiufeng Energy and Xinao Shares [52] - The report emphasizes the importance of energy independence and recommends companies with gas production capabilities like Shouhua Gas [52]

证券日报网讯 2月9日，蓝天燃气在互动平台回答投资者提问时表示，控股股东的股票被冻结等事项公 司已及时披露，相关信息请查看相关公告，公司后续将积极关注控股股东股票的冻结等状态，如果有进 展将及时披露。 （文章来源：证券日报） ...

Investment Rating - The report maintains an "Accumulate" rating for the gas industry [1] Core Views - The report highlights a warming trend in temperatures leading to a decline in gas prices in Europe and the US, while domestic gas prices remain stable [1][9] - It emphasizes the overall supply being relaxed, with domestic gas prices decreasing by 2.0% week-on-week [26] - The report suggests that the pricing mechanism is being rationalized, and demand is expected to increase [1] Price Tracking - As of February 6, 2026, the week-on-week changes in gas prices are as follows: US HH down 31.5%, European TTF down 11%, East Asia JKM down 3.6%, China LNG ex-factory down 2%, and China LNG CIF down 11.6% [9][10] - The report notes that the average gas consumption in Europe for the first ten months of 2025 was 349.5 billion cubic meters, a year-on-year increase of 4.6% [15] Supply and Demand Analysis - The report indicates that the US natural gas market price decreased by 31.5% week-on-week due to a high base, with storage levels at 28,230 billion cubic feet, a year-on-year increase of 9.8% [14] - In Europe, gas supply decreased by 5.2% week-on-week, with a notable drop in gas-fired power generation output by 10.9% week-on-week [15] - Domestic gas consumption for 2025 is projected to increase by 2.3% year-on-year to 433.2 billion cubic meters, attributed to warmer winter conditions affecting heating gas demand [26] Pricing Progress - The report states that 68% of cities have implemented residential pricing adjustments, with an average increase of 0.22 yuan per cubic meter [40] - The report anticipates continued pricing adjustments and improvements in profitability for city gas companies [40] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from the ongoing pricing adjustments, such as Xin'ao Energy, China Resources Gas, and Kunlun Energy [1] - It also suggests monitoring companies with quality long-term contracts and flexible scheduling capabilities, such as Jiufeng Energy and Xin'ao Co. [1] - The report highlights the importance of energy independence and recommends companies with gas production capabilities, such as Shouhua Gas [1]