Group 1 - The core viewpoint of the news is that Meai Technology's stock has seen a significant increase, with a rise of 5.21% to 47.70 CNY per share, and a total market capitalization of 6.411 billion CNY [1] - Meai Technology, established on June 21, 2001, specializes in the research, production, and sales of air purification and atmospheric environment governance products, with 90.18% of its revenue coming from cleanroom air filtration and clean wall and ceiling systems [1] - The company has a trading volume of 77.3702 million CNY and a turnover rate of 3.29% [1] Group 2 - According to data, the Noan Fund has a significant holding in Meai Technology, with the Noan Lixin Flexible Allocation Mixed A Fund holding 167,700 shares, representing 2.63% of the fund's net value, ranking as the tenth largest holding [2] - The Noan Lixin Flexible Allocation Mixed A Fund has achieved a year-to-date return of 36.52%, ranking 2108 out of 8145 in its category, and a one-year return of 31.06%, ranking 1883 out of 8059 [2] - The fund manager, Zhao Sen, has been in position for 3 years and 115 days, with the fund's total asset size at 442 million CNY and a best return of 55.39% during his tenure [3]

长江证券承销保荐有限公司 关于美埃（中国）环境科技股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"或"保荐机构"）作为 美埃（中国）环境科技股份有限公司（以下简称"美埃科技"或"公司"）首次 公开发行股票并在科创板上市的保荐机构和持续督导券商，根据《证券发行上市 保荐业务管理办法（2025 年修订）》《上市公司募集资金监管规则》《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（2025 年 5 月修订）》等 有关规定，对美埃科技使用部分暂时闲置募集资金进行现金管理的相关事项进行 了审慎核查，核查情况及核查意见如下： 一、募集资金基本情况 公司根据中国证券监督管理委员会于 2022 年 10 月 18 日出具的《关于同意 美埃（中国）环境科技股份有限公司首次公开发行股票注册的批复》（证监许可 [2022]2506 号），向社会公众发行人民币普通股（A 股）股票 3,360 万股，发行 价格为 29.19 元/股，募集资金总额为 98,078.40 万元，扣除各项发行费用（不含 增值税）人民币 8,897.34 万元后，实际募集资金净额为人 ...

证券代码：688376 证券简称：美埃科技 公告编号：2025-044 美埃（中国）环境科技股份有限公司 为提高募集资金使用效率，在不影响公司募投项目建设实施、募集资金使用 计划和保证募集资金安全的情况下，公司将合理使用部分闲置募集资金进行现金 管理，本着股东利益最大化的原则，提高募集资金使用效益、增加股东回报。 现金管理种类：安全性高、流动性好的投资产品（包括但不限于结 构性存款、大额存单、券商收益凭证等） 现金管理额度：不超过人民币 40,000.00 万元 已履行及拟履行的审议程序：美埃（中国）环境科技股份有限公司 （以下简称"公司"或"美埃科技"）于 2025 年 11 月 12 日召开第二届 董事会第二十六次会议，审议通过了《关于使用部分闲置募集资金 进行现金管理的议案》，本事项无需提交公司股东会审议。公司保荐 机构长江证券承销保荐有限公司对本事项出具了明确的核查意见。 特别风险提示：尽管本次现金管理是购买安全性高、流动性好的投 资产品（包括但不限于结构性存款、大额存单等），但金融市场会受 宏观经济的影响，公司虽将根据经济形势以及金融市场的变化适时 适量地介入，不排除该项投资受到市场波动的影响。 关 ...

格隆汇11月12日丨美埃科技(688376.SH)公布，公司拟使用最高不超过人民币40,000.00万元的暂时闲置 募集资金进行现金管理，使用期限自董事会审议通过之日起12个月内有效。在前述额度及期限范围内， 资金可以循环滚动使用。 ...

南财智讯11月12日电，美埃科技公告，公司于2025年11月12日召开第二届董事会第二十六次会议，审议 通过了《关于使用部分闲置募集资金进行现金管理的议案》。公司拟使用最高不超过4.00亿元的暂时闲 置募集资金进行现金管理，投资安全性高、流动性好的投资产品（包括但不限于结构性存款、大额存 单、券商收益凭证等）。使用期限自董事会审议通过之日起12个月内有效，资金在额度范围内可滚动使 用。公司表示，本次现金管理不会影响募集资金投资项目进度和公司正常生产经营。 ...

Market Overview - The environmental equipment sector experienced a decline of 0.43% on November 11, with Meiyetech leading the drop [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Notable gainers in the environmental equipment sector included: - Henghe Co., Ltd. (Code: 920145) with a closing price of 25.01, up 2.04% [1] - Lihua Technology (Code: 300800) with a closing price of 12.52, up 1.46% [1] - Shijing Technology (Code: 301030) with a closing price of 15.33, up 1.19% [1] - Major decliners included: - Meiyetech (Code: 688376) with a closing price of 44.88, down 6.66% [2] - Qinda Environmental (Code: 688501) with a closing price of 26.66, down 2.27% [2] - Xuedilong (Code: 002658) with a closing price of 9.55, down 1.85% [2] Capital Flow - The environmental equipment sector saw a net outflow of 133 million yuan from main funds, while retail investors contributed a net inflow of 140 million yuan [2] - Specific stock capital flows included: - Yingfeng Environment (Code: 000967) with a main fund net inflow of 18.81 million yuan [3] - Qinda Environmental (Code: 688501) with a main fund net inflow of 3.51 million yuan [3] - Longjing Environmental (Code: 600388) with a main fund net inflow of 3.10 million yuan [3]

Group 1 - The core point of the article is that Meike Technology (SH 688376) announced that approximately 83.41 million restricted shares will be unlocked and listed for trading on November 18, 2025, which accounts for 62.0643% of the company's total share capital [1] - As of the report date, Meike Technology has a market capitalization of 6.5 billion yuan [2] - For the fiscal year 2024, the revenue composition of Meike Technology is projected to be 70.5% from cleanroom air purification and 29.5% from other sources [1]

证券代码：688376 证券简称：美埃科技 公告编号：2025-043 美埃（中国）环境科技股份有限公司 首次公开发行部分限售股上市流通公告 根据中国证券监督管理委员会 2022 年 10 月 18 日《关于同意美埃（中国）环 境科技股份有限公司首次公开发行股票注册的批复》（证监许可[2022]2506 号）核 准，同意美埃（中国）环境科技股份有限公司公开发行 A 股普通股股票 33,600,000 股，并于 2022 年 11 月 18 日在上海证券交易所科创板挂牌上市。公司首次公开发 行 A 股前总股本为 100,800,000 股，首次公开发行 A 股后总股本为 134,400,000 股， 其中有限售条件流通股 103,541,361 股，占公司发行后总股本的 77.04%，无限售条 件流通股 30,858,639 股，占公司发行后总股本的 22.96%。具体情况详见公司于 2022 年 11 月 17 日在上海证券交易所网站（www.sse.com.cn）披露的《美埃（中国）环 境科技股份有限公司首次公开发行股票科创板上市公告书》。 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 ...

一、本次上市流通的限售股类型 长江证券承销保荐有限公司 关于美埃（中国）环境科技股份有限公司 首次公开发行部分限售股上市流通的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"或"保荐机构"）作为 美埃（中国）环境科技股份有限公司（以下简称"美埃科技"或"公司"）首次 公开发行股票并在科创板上市的保荐机构，根据《中华人民共和国公司法》《中 华人民共和国证券法》《证券发行上市保荐业务管理办法（2025 年修订）》《上海 证券交易所科创板股票上市规则（2025 年 4 月修订）》《科创板上市公司持续监 管办法（试行）（2025 年修订）》以及《上海证券交易所上市公司自律监管指引 第 11 号——持续督导（2025 年 3 月修订）》等法律法规的相关规定，对公司首 次公开发行部分限售股上市流通事项进行了核查，具体情况及核查意见如下： 根据中国证券监督管理委员会于 2022 年 10 月 18 日出具的《关于同意美埃 （中国）环境科技股份有限公司首次公开发行股票注册的批复》（证监许可 [2022]2506 号），公司获准首次向社会公开发行人民币普通股 3,360.00 万股，并 于 2022 年 11 月 18 ...

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1]. Core Views - Indonesia has launched a $5.6 billion waste-to-energy project, indicating a vast market opportunity for solid waste management companies to expand internationally [11][12]. - The solid waste sector is experiencing strong fundamentals, with a notable increase in free cash flow and improved return on equity (ROE) due to operational efficiencies and reduced capital expenditures [14][15]. - The water services sector is poised for growth, with expectations of increased cash flow and dividend payouts as capital expenditures decline [18][19]. Summary by Sections Industry News - Indonesia's sovereign fund has initiated the first waste-to-energy project tender, with plans for 33 plants and a total investment of approximately 56 billion USD [11]. - The solid waste industry is transitioning to a mature phase, focusing on efficiency improvements and cash flow generation [14]. - The environmental sanitation vehicle market saw a 63.18% increase in new energy vehicle sales, with a penetration rate of 17.40% [20]. Key Recommendations - Recommended stocks include: - **Waiming Environmental**: Selected as a supplier for Indonesia's waste-to-energy projects, with significant operational capacity [13]. - **Green Power**: Strong performance driven by increased heating capacity and cost savings [14]. - **Yongxing Co.**: Notable growth in revenue and profit due to improved operational efficiency [14]. - Companies to watch include **Dayu Water Saving**, **Lian Tai Environmental**, and **Wang Neng Environment** [1]. Financial Performance - The solid waste sector reported a 12% increase in net profit and a 2.7 percentage point rise in gross margin for the first three quarters of 2025 [14]. - Free cash flow for the sector reached 13.3 billion CNY, marking a 28% increase year-on-year [14]. - Dividend payouts are expected to rise, with several companies maintaining high payout ratios [15][18]. Market Trends - The water services sector is expected to see a cash flow turnaround, similar to the solid waste sector, with anticipated increases in dividend payouts as capital expenditures decrease [18][19]. - Price reforms in water services are expected to enhance growth and valuation, with cities like Guangzhou and Shenzhen implementing price increases [18]. Equipment and Technology - The report highlights the growth in the environmental sanitation vehicle market, particularly in new energy vehicles, which are becoming increasingly prevalent [20]. - The report also notes improvements in the profitability of lithium battery recycling, with a slight decrease in metal prices leading to better margins [34][35].