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： 投资者可于 2025 年 8 月 28 日（星期四）至 9 月 3 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （zqb_tongyuan@sina.com）进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 证券代码：688679 证券简称：通源环境 公告编号：2025-019 安徽省通源环境节能股份有限公司 关于参加 2025 年半年度科创板节能环保行业 集体业绩说明会的公告 安徽省通源环境节能股份有限公司（以下简称"公司"）已于 2025 年 8 月 26 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司经 营成果、财务状况，公司计划于 2025 年 9 月 4 日（星期四）15:00-17:00 参加 2025 年半年度科创板节能环保行业集体业绩说明会，就投资者关心的问题进行 交流。 一、说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 2025 年半年度的 经 ...

Core Viewpoint - The environmental sector in the A-share market has shown significant growth in the first half of 2025, with over 63% of listed companies reporting a year-on-year increase in net profit, indicating a robust recovery and operational efficiency in the industry [1][5]. Group 1: Financial Performance - A total of 68 listed companies in the environmental sector disclosed their semi-annual reports, with 43 companies achieving a year-on-year increase in net profit, representing approximately 63.2% of the total [1]. - Among these, 28 companies reported both revenue and profit growth, accounting for about 41.2% [1]. - The top three companies by revenue were: High Energy Environment at 6.7 billion yuan, Feinan Resources at 6.543 billion yuan, and Yingfeng Environment at 6.463 billion yuan [1]. Group 2: Notable Company Performances - Hengyu Environmental reported a net profit of 839.7 million yuan, a significant turnaround from a loss of 804,700 yuan in the previous year, marking a year-on-year growth of 1143.4% [5]. - Huahong Technology achieved a net profit of 79.63 million yuan, up nearly 35 times from 2.22 million yuan year-on-year, driven by strong performance in its rare earth resource utilization and magnetic materials sectors [5]. - Jiuwu High-Tech reported a net profit of 38.69 million yuan, a 226.53% increase from 11.85 million yuan in the previous year, attributed to growth in revenue and gross margin [5]. Group 3: Industry Trends - Over 40% of the listed environmental companies reported simultaneous growth in both revenue and profit, reflecting their operational capabilities and the resilience of the environmental equipment industry [7]. - Companies are focusing on refining their core businesses while also exploring new growth opportunities, which is essential for sustainable development in a competitive market [6].

Core Viewpoint - Tongyuan Environment (688679) reported disappointing financial results for the first half of 2025, with a total revenue of 642 million yuan, a year-on-year decrease of 2.63%, and a net profit attributable to shareholders of -9.99 million yuan, a significant decline of 443.81% compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 was 642 million yuan, down 2.63% from 659 million yuan in the same period of 2024 [1] - Net profit attributable to shareholders was -9.99 million yuan, a decrease of 443.81% from 2.91 million yuan in 2024 [1] - Gross margin fell to 14.77%, a decline of 20.17% year-on-year, while net margin dropped to -2.38%, a decrease of 492.12% [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 75.48 million yuan, accounting for 11.75% of revenue, an increase of 20.09% year-on-year [1] - Earnings per share were -0.08 yuan, a drastic decline of 500% compared to 0.02 yuan in 2024 [1] Accounts Receivable and Cash Flow - Accounts receivable increased to 1.215 billion yuan, up 8.50% from 1.12 billion yuan, with accounts receivable to net profit ratio reaching 5588.54% [1][6] - Operating cash flow per share improved to 0.11 yuan, a year-on-year increase of 114.49% [1] Changes in Financial Items - Significant changes in financial items included a 35.22% increase in receivables due to an increase in commercial acceptance bills [3] - A decrease of 89.72% in receivables financing was noted due to a reduction in bank acceptance bills [3] - Inventory decreased by 73.05% as it was transferred to operating costs [3] - Contract liabilities fell by 86.69% due to a decrease in pre-received project payments [3] Debt and Financing - Interest-bearing debt rose to 356 million yuan, an increase of 11.10% from 321 million yuan [1] - Financial expenses increased by 49.67% due to higher financing costs associated with increased borrowing [4] - Net cash flow from financing activities decreased by 52.84% due to increased cash payments for debt repayment [4] Business Evaluation - The company's return on invested capital (ROIC) was 2.65%, indicating weak capital returns, with a historical median ROIC of 9.03% since its listing [5] - The net profit margin for the previous year was 1.62%, suggesting low added value for products or services [5] Cash Flow and Debt Servicing - The company's cash assets are considered healthy, but attention is needed on cash flow ratios, with cash assets to current liabilities at 77.12% and a three-year average operating cash flow to current liabilities at 5.29% [6]

Core Insights - Shenzhen is celebrating its 45th anniversary as a Special Economic Zone, showcasing a unique blend of "time" and "efficiency" that has defined its development [1] - The entrepreneurial stories from Bao'an District highlight the resilience and innovation that characterize the "Shenzhen spirit" [2][3] Company Highlights - Jinzhong Times Co., Ltd. has emerged as a global leader in the supercapacitor sector, breaking free from foreign monopolies and achieving the top position in its niche market [3][4] - Yingshi Innovation Technology Co., Ltd. has redefined industry standards with its lightweight 360° immersive panoramic cameras, earning the title of "new consumption champion" and successfully listing on the Science and Technology Innovation Board [3][5] - Both companies exemplify the entrepreneurial spirit of Bao'an, focusing on innovation and market leadership [4][6] Entrepreneurial Paths - Jinzhong Times focuses on internal development to address the anxiety of "whether there is" a product, while Yingshi Innovation seeks to explore the quality of products, aiming to redefine the future [4] - The journey of Jinzhong Times began with a commitment to self-reliance after facing challenges in the import market, leading to significant technological advancements and market leadership [5][6] - Yingshi Innovation's rise is marked by its innovative approach to immersive video technology, achieving significant market share in both professional and consumer segments [7] Industry Environment - Bao'an District provides a conducive business environment characterized by high efficiency and strong supply chain resources, which are crucial for the growth of companies like Jinzhong Times and Yingshi Innovation [8][10] - The region boasts a dense network of high-tech enterprises, with 7,397 national high-tech companies, significantly enhancing collaboration and operational efficiency [9] Supportive Ecosystem - Bao'an's proactive service model offers tailored support for businesses at various stages, facilitating connections within the industry and enhancing growth opportunities [10][11] - The district has established a systematic innovation nurturing framework, enabling startups to transition into established enterprises through targeted policies and support [11][12] Conclusion - The evolution of Shenzhen, particularly in Bao'an, reflects a new "Shenzhen time" that combines resilience with agility, embodying a spirit of innovation and entrepreneurship that is essential for its continued vitality [12]

外资态度来看，本期较上一季度新披露的外资机构有 1 家 ，即中信证券资产管理(香港)有限公司-客户 资金。 2025年8月26日，通源环境(688679.SH)发布2025年半年度报告。截至2025年8月25日，共有5个机构投资 者披露持有通源环境A股股份，合计持股量达2155.62万股，占通源环境总股本的16.37%。其中，机构 投资者包括安徽源通股权投资合伙企业(有限合伙)、安徽省中安海外技术引进投资合伙企业(有限合 伙)、上海毓璜投资管理有限公司-毓璜亿保丰壹號私募证券投资基金、宁波庐熙股权投资合伙企业(有限 合伙)、中信证券资产管理(香港)有限公司-客户资金，机构投资者合计持股比例达16.37%。相较于上一 季度，机构持股比例合计下跌了0.95个百分点。 ...

Group 1 - The report emphasizes the importance of reviewing the full semi-annual report for a comprehensive understanding of the company's operational results, financial status, and future development plans [1] - There are no profit distribution plans or capital reserve conversion proposals approved by the board during the reporting period [2] - The company confirms that there are no special arrangements regarding corporate governance [2] Group 2 - The report includes basic company information, such as stock details and contact information [2] - Major financial data is presented in the report, although specific figures are not detailed in the provided text [2] - The report indicates that there are no significant changes in the company's operational situation during the reporting period [3]

Core Viewpoint - Anhui Tongyuan Environmental Energy Saving Co., Ltd. reported a decline in key financial metrics for the first half of 2025, indicating challenges in revenue generation and profitability [1][2]. Financial Performance Summary - Total assets decreased to CNY 2,895.36 million, down 6.36% from the previous year [2]. - Operating revenue for the period was CNY 642.17 million, a decrease of 2.63% compared to CNY 659.48 million in the same period last year [2]. - The total profit for the period was a loss of CNY 15.52 million, a significant decline of 350.22% from a profit of CNY 6.20 million in the previous year [2]. - Net profit attributable to shareholders was a loss of CNY 9.99 million, down 443.81% from a profit of CNY 2.91 million in the same period last year [2]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 10.46 million, a decrease of 965.83% from a profit of CNY 1.21 million in the previous year [2]. - The weighted average return on net assets was -0.88%, a decrease of 1.14 percentage points from 0.26% in the previous year [2]. - Basic earnings per share were -CNY 0.08, a decline of 500% from CNY 0.02 in the previous year [3]. Shareholder Information - The total number of shareholders as of the reporting period was 3,451 [3]. - Major shareholders include Yang Ming with a 45.10% stake, and other significant shareholders include Anhui Yuan Tong Equity Investment Partnership and Shanghai Yuhuang Investment Management [3][4].

智通财经APP讯，通源环境(688679.SH)披露2025年半年度报告，报告期公司实现营收6.42亿元，同比下 降2.63%;归母净利润亏损999万元，同比由盈转亏;扣非净利润亏损1046万元，同比由盈转亏;基本每股收 益-0.08元。 ...

安徽省通源环境节能股份有限公司2025 年半年度报告 公司代码：688679 公司简称：通源环境 安徽省通源环境节能股份有限公司 2025 年半年度报告 1 / 188 安徽省通源环境节能股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告 第三节"经营情况讨论与分析"中的"四、风险因素"部分。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人杨明、主管会计工作负责人张云霞及会计机构负责人（会计主管人员）张云霞 声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的发展战略、未来计划等前瞻性描述不构成公司对投资者的实质承诺，敬请投资 ...

Core Insights - Tongyuan Environment (688679.SH) reported a revenue of 642 million yuan for the first half of 2025, representing a year-on-year decrease of 2.63% [1] - The net profit attributable to shareholders was -9.99 million yuan, indicating a significant decline of 443.81% compared to the same period last year [1] - The basic earnings per share were -0.08 yuan, reflecting a decrease due to the drop in net profit and attributable net profit [1] Financial Performance - Revenue for the reporting period was 642 million yuan, down 2.63% year-on-year [1] - Net profit attributable to shareholders was -9.99 million yuan, a decline of 443.81% year-on-year [1] - Basic earnings per share were -0.08 yuan, a decrease attributed to the decline in net profit [1] Profitability Metrics - The decline in net profit was primarily due to a decrease in gross profit margin [1] - The significant drop in net profit and earnings per share indicates challenges in maintaining profitability [1]