Core Insights - The stock price of Fuzhijie Environmental Protection has increased by 153.64% year-to-date, with a recent decline of 0.33% over the last five trading days and a 28.00% drop over the last 20 days [1] - The company reported a revenue of 201 million yuan for the first nine months of 2025, representing a year-on-year growth of 49.84%, and a net profit of 2.43 million yuan, up 115.94% year-on-year [2] - Fuzhijie Environmental Protection has a market capitalization of 3.09 billion yuan and a trading volume of 27.42 million yuan as of November 7 [1] Company Overview - Fuzhijie Environmental Protection, established on November 18, 2011, and listed on August 17, 2020, specializes in providing sludge dewatering, drying, and waste gas purification technology and services for urban and industrial wastewater treatment plants [2] - The company's revenue composition includes high-end solid-liquid separation equipment (78.74%), spare parts and maintenance (12.12%), waste gas purification technology (3.94%), operational services (2.95%), dual-carbon comprehensive services (1.54%), and energy-saving and carbon-reduction technology equipment sales and services (0.71%) [2] - As of September 30, the number of shareholders increased by 49.32% to 6,437, while the average circulating shares per person decreased by 33.03% to 22,997 shares [2] Dividend Information - Fuzhijie Environmental Protection has distributed a total of 162 million yuan in dividends since its A-share listing, with 119 million yuan distributed over the past three years [3]

Core Insights - The environmental governance sector saw a rise of 0.39% on November 4, with Fulongma leading the gains [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Environmental Governance Sector Performance - Fulongma (603686) closed at 33.47, up 9.99% with a trading volume of 1.2548 million shares and a transaction value of 3.966 billion [1] - Haitan Co. (603759) closed at 12.91, up 9.97% with a trading volume of 458,200 shares and a transaction value of 569 million [1] - Haixia Environmental Protection (603817) closed at 7.63, up 9.94% with a trading volume of 576,100 shares and a transaction value of 421 million [1] - Other notable performers include Zhongchuang Environmental Protection (300056) up 4.55%, Feima International (002210) up 4.04%, and KJY (301372) up 3.33% [1] Fund Flow Analysis - The environmental governance sector experienced a net inflow of 53.7219 million from institutional investors, while retail investors saw a net inflow of 183 million [2] - The sector faced a net outflow of 236 million from speculative funds [2] Individual Stock Fund Flow - Fulongma had a net inflow of 475 million from institutional investors, while it faced a net outflow of 272 million from speculative funds [3] - Haixia Environmental Protection saw a net inflow of 94.4685 million from institutional investors, with a net outflow of 38.4562 million from speculative funds [3] - Huicheng Environmental Protection (300779) had a net inflow of 70.1025 million from institutional investors, but a significant net outflow of 91.4059 million from retail investors [3]

Core Viewpoint - The company, Fuzhi Environmental Protection, is a leading enterprise in the field of sludge dewatering, drying, and waste gas purification technology in China, with a comprehensive service capability across the entire industry chain [1] Group 1: Business Performance - For Q3 2025, Fuzhi Environmental Protection reported revenue of 201 million yuan, ranking 45th among 51 companies in the industry, significantly lower than the top performer, Shougang Environmental Protection, which had 13.453 billion yuan, and the industry average of 1.671 billion yuan [2] - The net profit for the same period was 1.4683 million yuan, placing the company 41st in the industry, again far behind the leading companies and below the industry average of 230 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 21.32%, an increase from 13.54% year-on-year, but still significantly lower than the industry average of 49.82%, indicating good debt repayment capability [3] - The gross profit margin for Q3 2025 was 25.61%, down from 30.06% year-on-year and below the industry average of 32.13%, suggesting a need for improvement in profitability [3] Group 3: Executive Compensation - The chairman, Huang Wenjun, received a salary of 1.7 million yuan in 2024, a decrease of 540,000 yuan from 2023 [4] - The general manager, Qu Xianwei, had a salary of 1.3 million yuan in 2024, an increase of 20,000 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 49.32% to 6,437, while the average number of circulating A-shares held per account decreased by 33.03% to 23,000 [5]

Core Viewpoint - The company, Fujie Environmental (688335.SH), reported strong financial performance in Q3 2025, with revenue of 201 million yuan, a year-on-year increase of 49.84%, and a net profit of 2.425 million yuan, indicating a turnaround from losses [1][2]. Group 1: Financial Performance - The company achieved a net profit turnaround, with cash flow from operating activities turning positive, which is notable during the current deep adjustment period in the environmental industry [2]. - The gross profit margin improved to 25.61%, reflecting the company's strong growth resilience [1]. Group 2: Strategic Initiatives - The company is strategically positioned to capitalize on the "dual carbon" opportunities, focusing on integrated production, education, research, and application in the clean energy sector [2][3]. - Fujie Environmental has established three core business segments: high-end equipment manufacturing, comprehensive dual carbon services, and clean energy solutions, expanding its market reach beyond traditional water services to emerging industries such as petrochemicals and lithium battery materials [2]. Group 3: Research and Development - The company has formed a joint laboratory with East China University of Science and Technology to innovate in green fuels, including green methanol and sustainable aviation fuel [3]. - Fujie Environmental is leading a special research project on the key technology for the directional conversion of biogas to green methanol, collaborating with multiple organizations to advance this technology [4]. Group 4: Policy Environment - Recent policy developments, including the "14th Five-Year Plan," emphasize pollution reduction and clean energy development, which are expected to provide stable order sources for the company [5]. - The Ministry of Transport's initiatives to promote green shipping and the implementation of green trade policies are anticipated to further enhance the company's market opportunities [5]. Group 5: Market Outlook - The International Maritime Organization's approval of a net-zero emissions framework is projected to significantly increase the demand for low-carbon fuels like green methanol, with forecasts suggesting a market demand of over 30 million tons by 2030 [6]. - The company aims to transform urban environmental infrastructure into energy resource factories capable of efficiently producing green methanol and hydrogen, aligning with its strategic focus on energy resource conversion and dual carbon services [6][7].

证券代码：688335 证券简称：复洁环保 公告编号：2025-056 上海复洁科技股份有限公司 关于召开2025年第三季度业绩说明会的公告 本次业绩说明会以网络互动方式召开，公司将针对2025年第三季度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内就 投资者普遍关注的问题进行回答。 会议召开时间：2025年11月17日（星期一）13:00-14:00 会议召开地点：上海证券交易所 上证路演中心 二、业绩说明会召开的时间、地点 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、准确性和完整性依法承担法律责任。 重要内容提示： （网址：https://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11月10日（星期一）至11月14日（星期五）16:00前登 录上证路演中心网站首页点击"提问预征集"栏目或通过上海复洁科技股份有限 公司投资者关系邮箱ir@ceo.sh.cn进行提问。公司将在本次业绩说明会上对投资 者普遍关注的问题进行回答。 上海复洁科技股份有限公司（以下简 ...

证券代码：688335 证券简称：复洁环保 公告编号：2025-054 上海复洁科技股份有限公司 关于修订公司治理制度的公告 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、准确性和完整性依法承担法律责任。 上海复洁科技股份有限公司（以下简称"公司"）于2025年10月29日召开第四 届董事会第十一次会议，审议通过了《关于修订公司治理制度的议案》，该议案无 需提交公司股东会审议。 为进一步完善公司治理结构，规范公司各项事务，根据《中华人民共和国公司 法》《中华人民共和国证券法》《上海证券交易所科创板股票上市规则》《上海证 券交易所科创板上市公司自律监管指引第1号——规范运作》等有关法律法规、规 范性文件，及《上海复洁科技股份有限公司章程》的有关规定，结合公司实际情况， 公司对内部治理制度进行了系统性的梳理，修订了内部治理制度，现将具体情况公 告如下： | 序 | 制度名称 | 形式 | 是否需要提交 | | --- | --- | --- | --- | | 号 | | | 股东会审议 | | 1 | 《信息披露管理制度》 | 修订 | 否 | | 2 | ...

证券代码：688335 证券简称：复洁环保 公告编号：2025-055 上海复洁科技股份有限公司 关于2025年前三季度计提及转回资产减值准备 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、准确性和完整性依法承担法律责任。 一、本次计提及转回资产减值准备的情况概述 上海复洁科技股份有限公司（以下简称"公司"）根据《企业会计准则》以 及公司会计政策、会计估计的相关规定，为了客观、公允地反映公司截至2025年 9月30日的财务状况及2025年前三季度的经营成果，本着谨慎性原则，公司对截 至2025年9月30日公司及下属子公司的资产进行了减值测试，对可能发生资产减 值损失的相关资产计提了减值准备。公司已于2025年第一季度转回信用减值准 备和资产减值准备共计884.86万元，详见公司于2025年4月29日在上海证券交易 所网站（www.sse.com.cn）披露的《关于2025年第一季度转回资产减值准备的 公告》（公告编号：2025-027），本次计提及转回的资产减值准备金额涵盖一 季度转回的资产减值准备。 2025年前三季度，公司各项资产转回的减值准 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥61,539,411.55, a decrease of 13.79% compared to the same period last year[3] - The total profit for the period was -¥5,706,377.81, with a net profit attributable to shareholders of -¥4,211,492.36[3] - Year-to-date revenue reached ¥201,121,659.33, reflecting a significant increase of 49.84% year-on-year[3] - The basic earnings per share for the current period was -¥0.03, compared to ¥0.02 in the same period last year[3] - The net profit for the first three quarters of 2025 was ¥1,468,301.62, a recovery from a net loss of ¥18,943,044.54 in the same period of 2024[18] - The profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥2,425,401.00, compared to a loss of ¥15,218,361.67 in 2024[19] - The company reported a total comprehensive income of ¥1,466,872.73 for the first three quarters of 2025, compared to a loss of ¥18,950,151.39 in 2024[19] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.02, recovering from a loss of ¥0.10 per share in the same period of 2024[19] Research and Development - Research and development expenses totaled ¥5,807,306.57, down 12.56% from the previous year, while the R&D expense ratio to operating revenue increased by 9.44%[4] - Research and development expenses for the first three quarters of 2025 were ¥16,726,139.51, down from ¥22,158,393.96 in 2024, indicating a reduction of approximately 24.6%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,455,337,049.01, representing a 5.90% increase from the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥1,068,149,513.98, an increase from ¥1,009,925,202.93 at the end of 2024[14] - Total assets as of September 30, 2025, are ¥1,455,337,049.01, compared to ¥1,374,229,932.08 at the end of 2024[15] - Total current liabilities increased to ¥293,275,884.90 from ¥194,499,767.25 in the previous period[15] - The total liabilities as of the latest reporting period were ¥310,231,741.03, compared to ¥204,790,896.90 in the previous year, showing an increase of about 51.3%[16] - The total equity attributable to shareholders of the parent company was ¥1,144,816,311.34, a slight decrease from ¥1,169,503,243.59 in the previous year[16] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥137,747,827.02[3] - Operating cash inflow totaled $415,219,002.12, an increase from $240,821,027.27 in the previous period, reflecting a significant improvement in operational efficiency[22] - The net cash flow from operating activities was $137,747,827.02, a significant recovery from a negative cash flow of -$13,664,974.87 in the previous period[22] - The company reported a total cash inflow from investment activities of $2,029,286,581.19, slightly up from $2,018,862,008.98, indicating stable investment performance[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,437[11] - The largest shareholder, Huang Wenjun, holds 24,400,047 shares, representing 16.48% of total shares[12] - The company has no significant changes in the shareholder structure or related party transactions during the reporting period[12] Investment and Expenditures - Cash paid for purchasing fixed assets and other long-term assets was $27,947,432.74, down from $40,856,405.46, reflecting a reduction in capital expenditures[22] - The company paid $29,321,285.00 in dividends and interest, a decrease from $51,076,192.06, indicating a potential shift in dividend policy[23] Other Financial Metrics - Non-recurring gains and losses for the current period totaled ¥4,045,506.36, with government subsidies contributing significantly to this figure[6] - The weighted average return on equity decreased to -0.37% for the current period, down from 1.45% in the previous year[3] - The company's cash and cash equivalents are reported at ¥197,088,504.29, down from ¥502,392,537.69[14] - Accounts receivable decreased to ¥135,702,604.51 from ¥165,545,278.26[14] - Inventory increased to ¥99,639,491.83 from ¥70,746,455.45[14] - Long-term equity investments rose to ¥18,933,648.89 from ¥13,670,200.89[14] - The impact of exchange rate changes on cash and cash equivalents was minimal, with a positive effect of $57.82 compared to a negative impact of -$16,008.58 previously[23]

反舞弊管理制度 二〇二五年十月 上海复洁科技股份有限公司 反舞弊管理制度 第一章 总则 第 1 条 为防止舞弊，加强上海复洁科技股份有限公司（以下简称"公司"） 治理和内部控制，维护公司和股东的合法权益，确保公司持续、稳定、健康发展， 根据《中华人民共和国公司法》《企业内部控制基本规范》等相关法律、法规和 证券交易市场、监管机构的规定，以及《上海复洁科技股份有限公司章程》（以 下简称《公司章程》）等有关规定，结合公司实际情况，特制定本制度。 第 2 条 本制度适用于公司及下属子公司、分公司。 上海复洁科技股份有限公司 （二）将正常情况下可以使公司获利的交易事项转移给他人； （三）非法使用公司资产，贪污、挪用、盗窃、侵占公司资产； （四）不真实表达或故意遗漏、虚报交易或其他事项，使公司为虚假的交易 事项支付款项或承担债务； 1 上海复洁科技股份有限公司 反舞弊管理制度 第二章 反舞弊工作的宗旨 第 3 条 反舞弊工作的宗旨是规范所有员工的职业行为，特别是董事、高级、 中级管理层人员、关键岗位员工的职业行为，树立廉洁自律、勤勉敬业的工作作 风，严格遵守相关法律法规、职业道德准则及公司规章制度，防止发生损害公司、 ...

上海复洁科技股份有限公司 董事、高级管理人员所持公司股份及其变动管 理制度 二〇二五年十月 上海复洁科技股份有限公司 董事、高级管理人员所持公司股份及其变动管理制度 第一章 总则 第1条 为加强对上海复洁科技股份有限公司（以下简称"公司"或"本公司"） 董事、高级管理人员所持有公司股份及其变动的管理，进一步明确公司相关办理程序， 按照《中华人民共和国公司法》（以下简称《公司法》）《中华人民共和国证券法》 （以下简称《证券法》），并参照《上海证券交易所科创板股票上市规则》《上市公 司董事和高级管理人员所持本公司股份及其变动管理规则》《上海证券交易所上市公 司自律监管指引第8号——股份变动管理》《上海证券交易所上市公司自律监管指引第 15号——股东及董事、高级管理人员减持股份》《上海证券交易所科创板上市公司自 律监管指引第1号——规范运作》等有关法律、法规、规范性文件的规定，以及《上海 复洁科技股份有限公司章程》（以下简称《公司章程》）等规定，结合公司实际情况， 特制定本制度。 第2条 本制度适用于公司董事、高级管理人员，其所持本公司股份是指登记在其 名下的所有本公司股份。公司董事、高级管理人员从事融资融券交易的 ...