Core Viewpoint - The company, Fuzhijie Technology, is focusing on its core business responsibilities and implementing various strategies to tackle market challenges while enhancing operational quality through meticulous management [2] Group 1: Business Strategy - The company aims to deepen its market presence by focusing on high-quality projects and optimizing its marketing channel layout to explore domestic and international market potential [2] - It is committed to providing multi-dimensional services that cater to key customer needs, which is expected to drive new order signings in both domestic and international markets [2] Group 2: Financial Performance - For the first three quarters of 2025, the company reported a revenue of 201 million yuan, reflecting a year-on-year growth of 49.84% [2] - The net profit attributable to the parent company reached 2.425 million yuan, marking a turnaround from losses to profitability compared to the previous year [2]

Core Viewpoint - The company is actively monitoring new technologies, processes, and equipment in the energy-saving and carbon reduction sectors, while optimizing its marketing channels to tap into domestic and international market potential [1] Group 1: Business Strategy - The company focuses on providing multi-dimensional services to meet the needs of key customers [1] - The company has been participating in various industry seminars and technical exchange meetings to enhance its visibility and showcase its technical capabilities and project experience [1] Group 2: Market Development - The company is committed to achieving breakthroughs in new order signing in both domestic and international markets [1] - The company regularly organizes site visits for industry experts and corporate representatives to its project sites, equipment manufacturing centers, and R&D bases [1]

Core Viewpoint - The company, as the leading unit, has signed a contract with the Shanghai Municipal Science and Technology Commission to undertake a strategic research project focused on the key technology and pilot verification for the conversion of biogas into green methanol [1] Group 1: Project Overview - The project involves collaboration with several institutions, including East China University of Science and Technology, Tongji University, Shanghai Jiao Tong University, and others [1] - The aim is to enhance local biogas resource supply and high-value utilization technology innovation, leveraging biomass resources such as wet waste [1] Group 2: Technological Focus - The project focuses on breaking through the integrated technology of "three-element coordinated anaerobic fermentation - biogas purification - mixed reforming gasification - green methanol synthesis" [1] - The goal is to significantly improve the green carbon utilization rate of biogas raw materials and achieve pilot verification for green methanol production at a scale of one thousand tons [1] Group 3: Future Applications - The project aims to establish an internationally advanced new process and complete technology for green methanol synthesis, laying the technical foundation for future industrial applications of 100,000 tons of green fuel [1] - The company is actively engaged in technical innovation, process development, and experimental verification, with the pilot verification of biogas to green methanol currently progressing in an orderly manner [1]

Company Performance - The stock price of Fuzhijie Technology reached a historical high, increasing by 16.72% to 35.46 yuan, with a trading volume of 5.9889 million shares and a transaction amount of 200 million yuan, resulting in a turnover rate of 4.05% [2] - The latest total market capitalization of the company in A-shares is 5.249 billion yuan, with the same amount for the circulating market capitalization [2] - The company reported a revenue of 201 million yuan for the first three quarters, representing a year-on-year growth of 49.84%, and a net profit of 2.4254 million yuan, which is a year-on-year increase of 115.94% [2] Industry Overview - The environmental protection industry, to which Fuzhijie Technology belongs, has an overall decline of 0.25%, with 71 stocks rising and 3 stocks hitting the daily limit, including Tongyuan Environment and Farsen [2] - Among the stocks that declined, Wuhan Tianyuan, Huicheng Environmental Protection, and *ST Kaixin experienced the largest drops of 10.28%, 3.70%, and 3.40% respectively [2] Financing Data - As of January 9, the latest margin trading balance for Fuzhijie Technology is 141 million yuan, with a financing balance of 141 million yuan, which has increased by 16.5958 million yuan over the past 10 days, reflecting a growth of 13.34% [2]

Market Overview - The Shanghai Composite Index is at 4129.43 points, above the five-day moving average, with a change of 0.22% [1] - The total trading volume of A-shares is 17,287.95 million yuan [1] Stocks Breaking the Five-Day Moving Average - A total of 227 A-shares have broken above the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Boxin Biological (博迅生物) with a deviation rate of 11.39% and a daily increase of 15.31% [1] - Fuzhijie Technology (复洁科技) with a deviation rate of 10.10% and a daily increase of 15.37% [1] - Zhongjiabo Chuang (中嘉博创) with a deviation rate of 7.95% and a daily increase of 10.06% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Debang Lighting (得邦照明) with a daily increase of 9.98% and a deviation rate of 7.85% [1] - Jiaheng Home (嘉亨家化) with a daily increase of 8.87% and a deviation rate of 7.11% [1] - Pulutong (普路通) with a daily increase of 10.04% and a deviation rate of 6.71% [1] Summary of Deviation Rates - The following stocks have smaller deviation rates but have just crossed the five-day moving average: - New Hongtai (新宏泰) and Ninghu Gao (宁沪高速) have just crossed the five-day moving average with minor deviation rates [1]

1月7日复洁科技大宗交易一览 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金额为1842.65万元。 证券时报·数据宝统计显示，复洁科技今日收盘价为32.24元，上涨4.17%，日换手率为5.31%，成交额为 2.46亿元，全天主力资金净流入2717.04万元，近5日该股累计上涨20.16%，近5日资金合计净流入 5755.54万元。 两融数据显示，该股最新融资余额为1.26亿元，近5日增加697.92万元，增幅为5.84%。（数据宝） 复洁科技1月7日大宗交易平台出现一笔成交，成交量20.00万股，成交金额635.20万元，大宗交易成交价 为31.76元，相对今日收盘价折价1.49%。该笔交易的买方营业部为国泰海通证券股份有限公司上海浦东 新区商城路证券营业部，卖方营业部为国泰海通证券股份有限公司上海浦东新区商城路证券营业部。 | 成交量 | 成交金 | 成交价 | 相对当日收 | | | | --- | --- | --- | --- | --- | --- | | （万 | 额（万 | 格 | 盘折溢价 | 买方营业部 | 卖方营业部 | | 股） | 元） | （元） | （%） | | ...

| Part CA. In Marcel (1916 LPD). | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | | 卖出营业部 是否为专场 | | 026-01-07 | 复洁科技 | 688335 | 31.76 635.2 | 20 | 用貸款可能貸款貸款 | 180 | 1月7日，复洁科技大宗交易成交20万股，成交额635.2万元，占当日总成交额的2.52%，成交价31.76 元，较市场收盘价32.24元折价1.49%。 ...

两融数据显示，该股最新融资余额为1.22亿元，近5日增加372.65万元，增幅为3.14%。（数据宝） 1月6日复洁科技大宗交易一览 | 成交量 | 成交金 | 成交价 | 相对当日收 | | | | --- | --- | --- | --- | --- | --- | | （万 | 额（万 | 格 | 盘折溢价 | 买方营业部 | 卖方营业部 | | 股） | 元） | （元） | （%） | | | | | | | | 国泰海通证券股份有限公司 | 国泰海通证券股份有限公司 | | 25.00 | 762.25 | 30.49 | -1.49 | 上海浦东新区商城路证券营 | 上海浦东新区商城路证券营 | | | | | | 业部 | 业部 | （文章来源：证券时报网） 复洁科技1月6日大宗交易平台出现一笔成交，成交量25.00万股，成交金额762.25万元，大宗交易成交价 为30.49元，相对今日收盘价折价1.49%。该笔交易的买方营业部为国泰海通证券股份有限公司上海浦东 新区商城路证券营业部，卖方营业部为国泰海通证券股份有限公司上海浦东新区商城路证券营业部。 进一步统计，近3个月内该股累计发生2笔大 ...

Market Performance - The environmental governance sector increased by 0.44% compared to the previous trading day, with Fuke Technology leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up by 1.5%, while the Shenzhen Component Index closed at 14022.55, up by 1.4% [1] Top Gainers in Environmental Governance Sector - Fuke Technology (688335) closed at 30.95, with a rise of 9.17% and a trading volume of 82,100 shares, amounting to a transaction value of 247 million [1] - Qingshuiyuan (300437) closed at 18.52, up by 8.62%, with a trading volume of 552,800 shares and a transaction value of 1.024 billion [1] - Beijiete (300774) closed at 23.16, increasing by 8.48%, with a trading volume of 343,500 shares and a transaction value of 786 million [1] Top Losers in Environmental Governance Sector - Huaxin Environmental (301265) closed at 13.47, down by 5.07%, with a trading volume of 173,300 shares and a transaction value of 237 million [2] - Zhongzhi Holdings (603903) closed at 13.63, decreasing by 3.81%, with a trading volume of 222,300 shares and a transaction value of 311 million [2] - Shunkong Development (003039) closed at 16.99, down by 3.03%, with a trading volume of 514,000 shares and a transaction value of 886 million [2] Capital Flow Analysis - The environmental governance sector experienced a net outflow of 202 million from institutional investors, while retail investors saw a net inflow of 141 million [2] - The top stocks with significant net inflows from retail investors include Shanghai Xiba (603200) with a net inflow of 90.91 million [3] - Qingshuiyuan (300437) had a net outflow of 44.62 million from retail investors, indicating a shift in investor sentiment [3]

Group 1 - The report maintains a positive investment rating for the environmental sector, highlighting the potential for growth and the strengthening of dividend attributes in municipal environmental assets [1][2] - Municipal environmental assets exhibit regional monopolistic characteristics, anti-cyclical nature, and stable profitability, with typical companies showing dividend yields between 4% and 7% [4][5] - Insurance capital has steadily increased its holdings in environmental governance, reaching 0.2% by Q3 2025, and is expected to continue favoring dividend-yielding stocks [5][11] Group 2 - The report emphasizes the importance of free cash flow turning positive and the expectation of increased dividends as key drivers for stock price appreciation in the municipal environmental sector [23][39] - The performance of municipal environmental companies has shown significant growth in profitability, with garbage incineration enterprises experiencing high profit increases and improved cash flow due to capacity growth and reduced costs [12][18] - The report suggests focusing on companies with positive cash flow nearing stabilization, such as Xingrong Environment, and those with already positive cash flow and increasing dividends, like Guangda Environment and Hanlan Environment [5][23] Group 3 - The biofuel sector is expected to benefit from ongoing international carbon reduction policies, with prices for SAF and UCO anticipated to rise due to increased demand [5][18] - The report recommends focusing on scarce biofuel industry chain targets, particularly those transitioning to SAF or expanding overseas, such as Zhuoyue New Energy [5][18] - The demand for green methanol is projected to grow significantly starting in 2025, with companies like Jiazhe New Energy being highlighted for investment [5][18] Group 4 - The report outlines that the capital expenditure in the garbage incineration sector is entering a contraction phase, which is expected to enhance free cash flow and improve dividend capabilities [39][43] - The industry is transitioning to a phase of refined operations, focusing on internal growth and cautious external expansion, with significant potential for profit and cash flow improvement [48][49] - The report highlights the importance of regional characteristics and business models in determining the profitability and operational efficiency of garbage incineration companies [54][60]