Core Viewpoint - Jinko Environment (688466.SH) announced that its shareholder, Lixin Water, plans to reduce its stake in the company by up to 1.0252 million shares, which represents no more than 0.83% of the company's total share capital [1] Group 1 - The reduction of shares will be executed through centralized bidding transactions [1] - The maximum number of shares to be sold is specified as 1.0252 million [1] - The percentage of total share capital being reduced is noted as 0.83% [1]

Core Viewpoint - Kins Environment (688466.SH) announced a share reduction plan from its major shareholder, Victorious Joy Water Services Limited, due to its own funding needs [1] Group 1: Shareholder Actions - Victorious Joy Water Services Limited plans to reduce its holdings by up to 1,025,200 shares, which represents no more than 0.83% of the company's total share capital [1] - The reduction will be executed through centralized bidding transactions within a period starting from February 9, 2026, to May 8, 2026, following a 15 trading day notice period from the announcement date [1] - The selling price will be determined based on market conditions [1]

持股 5%以上股东减持股份计划公告 本公司董事会、全体董事及相关股东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。 证券代码：688466 证券简称：金科环境 公告编号：2026-001 金科环境股份有限公司 重要内容提示： 大股东持股的基本情况 截至本公告披露日，Victorious Joy Water Services Limited（以下简称"利欣 水务"）持有金科环境股份有限公司（以下简称 "公司"）股份 8,675,171 股，占 公司总股本的 7.05%。 减持计划的主要内容 公司于近日收到持股 5%以上股东利欣水务发来的减持计划告知函，因其自 身资金需求，利欣水务计划通过集中竞价交易的方式减持公司股份不超过 1,025,171 股，即不超过公司总股本的 0.83%，自本公告披露之日起 15 个交易日 后的 3 个月内进行，拟减持期间为 2026 年 2 月 9 日起至 2026 年 5 月 8 日。减持 价格按市场价格确定。 现将具体情况公告如下： | 股东名称 | Victorious Joy Water Services L ...

金科环境公告称，截至公告披露日，持股5%以上股东利欣水务持有公司股份867.52万股，占总股本 7.05%。因自身资金需求，利欣水务计划自2026年2月9日至5月8日，通过集中竞价交易方式减持不超 102.52万股，即不超总股本0.83%，减持价格按市场价确定。此次减持计划存在实施的不确定性，不会 导致公司控制权变更。 ...

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1]. Core Insights - The release of the CCER methodology for renewable energy electrolysis hydrogen is expected to reshape the economic viability of green hydrogen projects [10][12]. - The environmental protection industry strategy for 2026 emphasizes a dual focus on value and growth, driven by carbon neutrality initiatives [15]. - The report highlights significant growth in the sales of new energy sanitation vehicles, with a year-on-year increase of 64.01% and a penetration rate increase of 6.68 percentage points to 18.6% [22]. - The price of biodiesel remains stable, with slight improvements in profit margins [34]. - The lithium battery recycling sector is experiencing a decline in profitability despite rising metal prices [35]. Summary by Sections CCER Methodology and Green Hydrogen - The CCER methodology for renewable energy electrolysis hydrogen was officially released, enhancing the regulatory framework for green hydrogen projects [10]. - The methodology specifies that it applies only to new projects and emphasizes the use of self-generated renewable energy [11]. - The economic benefits of green hydrogen projects are projected to improve, with investment recovery periods decreasing from 9.21 years to 8.77 years due to CCER revenue [12][13]. Environmental Protection Industry Strategy - The 2026 strategy focuses on the dual themes of value and growth, with an emphasis on market-oriented improvements and operational efficiency [15]. - Key recommendations include focusing on companies with strong cash flow and growth potential, such as Huanlan Environment and Longjing Environmental Protection [15][16]. Sanitation Equipment Market - The sanitation vehicle market saw a total sales volume of 66,563 units in the first eleven months of 2025, with new energy vehicles accounting for 12,383 units sold [22]. - The penetration rate of new energy sanitation vehicles reached 18.6%, indicating a growing trend towards electrification in this sector [22]. Biodiesel Market - The average price of biodiesel remained stable at 8,200 yuan per ton, with a slight improvement in profit margins [34]. - The price difference between UCOME and waste oil is approximately 2,172 yuan per ton, indicating a competitive market environment [34]. Lithium Battery Recycling - The profitability of lithium battery recycling projects has decreased, with average unit profits for lithium carbonate and waste materials showing negative margins [35]. - Despite this, metal prices for lithium, cobalt, and nickel have increased, suggesting potential for future profitability improvements [35][37].

Core Viewpoint - The announcement details the termination of the concession rights for the Xidong Industrial Wastewater Treatment Project by Jinko Environment Co., Ltd. due to the inability to collect sufficient wastewater treatment fees, leading to a government buyback agreement [2][4]. Group 1: Project Background - The Xidong Industrial Wastewater Treatment Project was initiated under a concession agreement signed in September 2023, with a 30-year term for financing, construction, operation, and maintenance [3]. - The project was managed by a joint venture, which included Wuxi Xishan Zhonghe Water Co., Ltd. and Wuxi Pinghu Water Technology Co., Ltd. [3]. Group 2: Termination Agreement Details - The termination of the concession rights was triggered by the project's inability to cover operational costs and minimum investment returns for three consecutive months from January to March 2025 [4][7]. - The designated buyback entity is Wuxi Yunlong Park Construction Development Co., Ltd., as per the agreement with the Xishan Economic and Technological Development Zone Management Committee [2][9]. Group 3: Financial Implications - The termination of the concession rights is not expected to have a significant impact on the company's operational performance or financial status, nor will it affect the company's strategic development and operational planning [2][14]. - The buyback price will include all compensation related to the project investment, reasonable returns, and transfer costs, with no additional compensation required [10].

登录新浪财经APP 搜索【信披】查看更多考评等级 2025年12月26日，金科环境股份有限公司（以下简称"金科环境"）发布公告称，因旗下锡东工业污水处 理项目连续三个月污水处理费收入未能覆盖运营成本及最低投资收益，触发特许经营协议中的回购条 款。公司已与相关方签订《锡东工业污水处理项目特许经营终止协议》（以下简称"终止协议"），项目 特许经营权将于2025年3月31日终止，锡山经济技术开发区管理委员会（以下简称"锡山经开区管委 会"）将指定主体启动项目回购程序。 回购安排 公告明确，锡山经开区管委会将指定无锡云隆园区建设发展有限公司作为回购实施主体，相关方将另行 签署《锡东工业污水处理项目回购协议》（最终名称及内容以各方盖章签署为准）。根据约定，回购价 格将包含原协议约定的项目投资、合理收益、移交费用等全部补偿内容，双方不再就补偿金额另行核 算，具体结算细节将在后续回购协议中明确。 公司回应：不影响整体经营 但存在不确定性风险 项目背景：30年特许经营权提前终止 公告显示，该项目的特许经营协议签署于2023年9月。当时，金科环境控股子公司无锡市锡山中荷水务 有限公司与无锡市坪湖净水科技有限公司组成联合体，与锡 ...

证券代码：688466 证券简称：金科环境 公告编号：2025-056 金科环境股份有限公司 关于锡东工业污水处理项目政府回购并终止特许经营权的公告 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。 重点内容提示： 券交易所网站（www.sse.com.cn）的《金科环境：关于子公司签订锡东工业污水 处理项目特许经营协议的公告》（公告编号 2023-039）。 二、本次终止协议的情况 《特许经营协议》约定，若项目公司收取的污水处理费连续三个月无法保证 项目正常运转及投资收益，或实际处理水量连续 3 年未达基本水量，由锡山经开 区管委会指定单位对项目进行回购。 因项目公司 2025 年 1 月至 2025 年 3 月期间，向园区排污企业收取的污水处 理费连续三个月不足以覆盖运营成本（含人工、药剂、能耗等）及最低投资收益， 项目无法正常运转，触发项目回购情形。经各方友好协商，同意签订《终止协议》， 并由锡山经开区管委会指定无锡云隆园区建设发展有限公司履行回购义务。 金科环境股份有限公司（以下简称"公司"）实施的锡东工业污水处理 ...

Core Viewpoint - The company, Jinko Environment (688466.SH), announced the termination of the concession agreement for the Xidong Industrial Wastewater Treatment Project due to failure to ensure continuous operation and investment returns for three consecutive months [1] Group 1: Project Details - The Xidong Industrial Wastewater Treatment Project triggered a buyback clause in the concession agreement signed in 2023 due to issues with wastewater treatment fees collected from enterprises in the park [1] - A termination agreement for the concession was recently signed, with the termination date set for March 31, 2025 [1] Group 2: Parties Involved - The Wuxi Yunlong Park Construction Development Co., Ltd. has been designated by the Xishan Economic and Technological Development Zone Management Committee to fulfill the buyback obligation [1] - The parties involved will sign a separate buyback agreement for the Xidong Industrial Wastewater Treatment Project [1]

Group 1 - The company plans to acquire 100% equity of Tangshan Eric Environmental Technology Co., Ltd. from Rener Industrial Water Infrastructure Asia Co., Ltd. for a total consideration of 84.8 million yuan, which includes cash of 54.8 million yuan and new water island products valued at 30 million yuan [2] - Tangshan Eric was established for the special purpose of the South Fort Reclaimed Water Plant renovation project, which has a concession agreement signed in 2017 with a duration of 30 years [2] - The South Fort Economic Development Zone is strategically located in the Beijing-Tianjin and Bohai Sea economic circles, with a strong industrial base, making it one of the five major chemical bases in Hebei Province [2] Group 2 - The acquisition will enhance the company's operations in the South Fort Economic Development Zone, facilitating upstream and downstream collaboration in wastewater treatment projects, thereby improving management efficiency [3] - After the acquisition, Eric is expected to generate approximately 60 million yuan in annual revenue and 20 million yuan in annual operating cash flow, with the investment expected to be recouped within five years [3]