Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The expansion of the CCER (China Certified Emission Reduction) market is expected to benefit agricultural and forestry biomass, while the EU's Circular Economy Act emphasizes the importance of recycling resources [1][10] - The report highlights the potential for increased cash flow and profitability in the waste-to-energy sector as capital expenditures decline, similar to trends observed in the waste incineration industry [19][23] - The report suggests that the water services sector is approaching a cash flow inflection point, positioning it as the next growth area akin to waste incineration [23][24] Summary by Sections CCER Methodology and Market Expansion - The third batch of CCER methodologies focuses on agricultural biomass and methane reduction from oil and gas, indicating a growing supply and demand in the carbon market [8][10] - The average price of CCER has been reported at 89 RMB/ton, showing a premium over carbon allowances, reflecting tight supply conditions [10][12] EU Circular Economy Act - The EU is seeking public opinion on the Circular Economy Act, which aims to enhance the value of recycled materials and impose stricter regulations on waste management and recycling [15][16] - Key objectives include improving electronic waste collection and recycling rates, and extending producer responsibility for product lifecycle management [16][18] Waste-to-Energy Sector - The report notes a significant improvement in free cash flow for waste-to-energy companies as capital expenditures decrease, with projected dividend increases for major players [20][21] - The sector is expected to see a shift towards higher dividends and improved return on equity (ROE) as companies optimize operations and reduce costs [21][22] Water Services Sector - The water services market is anticipated to experience a cash flow boost as capital expenditures decline, with companies like Xingrong Environment and Yuehai Investment highlighted for their strong dividend potential [23][25] - The report emphasizes the importance of water pricing reforms in ensuring sustainable growth and returns for water service providers [24][25] Key Recommendations - The report recommends focusing on companies such as Guangda Environment, Xingrong Environment, and Green Power for their strong market positions and growth potential in the environmental sector [1][19][25]

Group 1 - The core point of the article highlights the financing activities of Yingke Recycling, which received a financing buy amount of 0.11 billion on August 14, ranking 1401st in the market [1] - Over the last three trading days from August 12 to August 14, Yingke Recycling had financing buy amounts of 0.08 billion, 0.05 billion, and 0.11 billion respectively [1] - On the same day, there were no shares sold or net sold in the securities lending market for Yingke Recycling [2]

Group 1 - The core point of the news is that Yingke Recycling Resources Co., Ltd. has established a new subsidiary, Anqing Yingke Recycling Technology Co., Ltd., with an investment of 10 million RMB, holding 100% ownership [1][2] Group 2 - Anqing Yingke Recycling Technology Co., Ltd. was founded on August 7, 2025, with a registered capital of 10 million RMB and is located in Anqing City [2] - The company is involved in various sectors including research and development of new materials, technical services, manufacturing and sales of various products such as flooring, bamboo products, rubber products, and plastic products [2] - The company also engages in recycling of resources (excluding production waste metals), resource regeneration technology research, and manufacturing of lightweight building materials [2]

来源：金融界 金融界8月12日消息，有投资者在互动平台向英科再生提问：请问随着联合国大会要求全球更进一步缩 减塑料膜使用及循环利用，公司在设备制造方面具有很强的国际竞争力，不知是否能明显感受到市场积 极的需求变化，能否简单介绍公司在降解塑料盒循环利用，国际上的哪些技术产品占据什么位置，25年 能否在23.24年基数上实现突破增长。 公司回答表示：尊敬的投资者，您好！感谢您对英科再生的关注。现就公司相关业务动态说明如下： 一、公司依托自主研发的回收设备体系，赋能供应商提升资源利用效能，进一步巩固回收网络的核心壁 垒。在现有传统泡塑减容回收设备的技术基础上，公司将持续推进废塑料处理整体解决方案，持续完善 设备矩阵。二、公司核心业务聚焦于构建再生塑料"回收 — 再生 — 利用"的全产业链创新模式，致力于 实现再生塑料的高效循环价值利用，业务重心非可降解塑料领域。再次感谢您的关注！ ...

Core Points - The stock price of Yingke Recycling (688087) closed at 28.65 yuan as of August 8, 2025, representing a 4.68% increase from the previous week's closing price of 27.37 yuan [1] - The company's market capitalization is currently 5.575 billion yuan, ranking 29th out of 72 in the plastics sector and 2940th out of 5151 in the A-share market [1] Company Announcements - Yingke Recycling has repurchased a total of 488,500 shares, accounting for 0.25% of its total share capital [1] - The share repurchase plan was first disclosed on April 8, 2025, with an implementation period from April 8, 2025, to April 7, 2026, and an expected repurchase amount between 40 million and 80 million yuan [1] - The repurchased shares are intended for employee stock ownership plans or equity incentives [1] - As of July 31, 2025, the total amount spent on repurchases is approximately 12,995,098.13 yuan, with actual repurchase prices ranging from 25.43 yuan to 27.51 yuan per share [1] - Following the 2024 equity distribution, the upper limit for the repurchase price has been adjusted from 41.44 yuan to 41.38 yuan per share [1] - The company will make repurchase decisions based on market conditions and will fulfill information disclosure obligations in a timely manner [1]

专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 光华股份CFO吴文娟薪酬最低，年薪22.47万元，不到行业平均薪酬的三分之一。公司经营业绩层面， 光华股份实现营业收入17.24亿元，同比增长16.5%，净利润1.46亿元，同比增长39.1%。 英科再生CFO李寒铭薪酬涨幅最高，年薪72.93万元，上年为41.27万元，同比大幅增长76.9%。公司经 营业绩层面，英科再生实现营业收入29.24亿元，同比增长19.1%，净利润3.07亿元，同比增长57.1%。 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股 CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年薪为 81.48万元。 分行业来看，塑料行业CFO薪酬总额4792.54万元，平均薪酬71.53万元，同比增长7.66%。 按学历来看，塑料行业CFO学历以本科为主，占比50.75%，硕士占比29.85%，大专占比19.40%。 按年龄来看，塑料行业CFO年龄普遍超过（含）40岁，年龄最小的为普利特（维权）CFO周臻纶及博 ...

Group 1 - The core point of the article highlights the financing activities of Yingke Recycling, with a net buying amount of 5.08 million yuan on August 6, ranking 1130th in the market [1] - Over the last three trading days from August 4 to August 6, Yingke Recycling received financing purchases of 16 million yuan, 7 million yuan, and 13 million yuan respectively [1] Group 2 - In terms of securities lending, there were no shares sold or net sold on the same day [2]

证券代码：688087 证券简称：英科再生 公告编号：2025-043 截至 2025 年 7 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易方 式回购公司股份 488,500 股，占公司总股本的 0.25%，回购成交的最高价为 27.51 元/股，最低价为 25.43 元/股，支付的资金总额为人民币 12,995,098.13 元（不含交 易费用） 本次回购股份符合法律法规的规定及公司的回购股份方案。 英科再生资源股份有限公司 关于以集中竞价方式回购股份的进展公告 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： 回购方案首次披露日 2025/4/8 回购方案实施期限 2025 年 4 月 8 日~2026 年 4 月 7 日 预计回购金额 4,000万元~8,000万元 □减少注册资本 √用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 □为维护公司价值及股东权益 累计已回购股数 488,500股 累计已回购股数占总股本比例 0.25% 累计已回购金额 12,995,098.13元 实际 ...

证券日报网讯 8月4日晚间，英科再生发布公告称，截至2025年7月31日，公司通过上海证券交易所交易 系统以集中竞价交易方式累计回购公司股份488，500股，占公司总股本的0.25%。 （文章来源：证券日报） ...

2024年1至12月份，英科再生的营业收入构成为：废弃资源综合利用业占比99.88%，其他业务占比 0.12%。 （文章来源：每日经济新闻） 英科再生（SH 688087，收盘价：29元）8月4日晚间发布公告称，截至2025年7月31日，公司通过上海 证券交易所交易系统以集中竞价交易方式回购公司股份约49万股，占公司总股本的0.25%，回购成交的 最高价为27.51元/股，最低价为25.43元/股，支付的资金总额为人民币约1300万元。 ...