登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1、本次交易尚需履行报中山市城市管理和综合执法局的审批同意等程序，具体实施情况和进度存在不 确定性。 2、因本次交易尚未完成，相关资产的交割、过户、工商变更等事项是否能最终顺利完成尚存在不确定 性。 公司将按照《深圳证券交易所股票上市规则》等法律法规及《公司章程》的规定，根据本次交易进展情 况及时履行信息披露义务，敬请广大投资者注意投资风险。 一、股权转让交易概述 1、2023年6月30日，广东长青（集团）股份有限公司（以下简称"公司"、"长青集团"）与中山公用事业 集团股份有限公司（以下简称"中山公用"）签署了《关于长青环保能源(中山)有限公司、中山市长青环 保热能有限公司股权并购框架协议》（以下简称"原协议"），拟将公司及公司全资子公司名厨（香港） 有限公司（以下简称"名厨香港"）实际控制持有的长青环保能源(中山)有限公司（以下简称"长青能 源"、"标的公司1"）、中山市长青环保热能有限公司（以下简称"长青热能"、"标的公司2"）100%股权 转让 ...

证券代码：002616 证券简称：长青集团 公告编号：2025-032 债券代码：128105 债券简称：长集转债 广东长青（集团）股份有限公司 关于转让长青环保能源（中山）有限公司与中山市长青环保 热能有限公司 100%股权的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 具体实施情况和进度存在不确定性。 最终顺利完成尚存在不确定性。 公司将按照《深圳证券交易所股票上市规则》等法律法规及《公司章程》的 规定，根据本次交易进展情况及时履行信息披露义务，敬请广大投资者注意投资 风险。 一、股权转让交易概述 "长青集团" ）与中山公用事业集团股份有限公司（以下简称"中山公用"）签署 了《关于长青环保能源(中山)有限公司、中山市长青环保热能有限公司股权并购 框架协议》（以下简称"原协议"），拟将公司及公司全资子公司名厨（香港）有 限公司（以下简称"名厨香港"）实际控制持有的长青环保能源(中山)有限公司 （以下简称"长青能源"、 "标的公司 1"）、中山市长青环保热能有限公司（以下 简称"长青热能"、"标的公司 2"）100%股权转让给中山公用或 ...

Core Viewpoint - The company successfully issued its second phase of ultra-short-term financing bonds for 2025, with a total issuance amount of 500 million yuan at an interest rate of 1.69% [2][3]. Group 1: Financing Details - The company received approval to register ultra-short-term financing bonds with a total amount not exceeding 2 billion yuan [1]. - The actual issuance amount for the current phase is 500 million yuan, matching the planned issuance amount [2]. - The bonds have a term of 180 days, with the interest starting from August 8, 2025, and maturing on February 4, 2026 [2]. Group 2: Subscription Information - There were 20 compliant subscription applications, with a total subscription amount of 1.98 billion yuan [2]. - The highest subscription rate was 2.20%, while the lowest was 1.56% [2]. - A total of 8 effective subscription applications were recorded, amounting to 530 million yuan [2]. Group 3: Underwriting and Management - The lead underwriter for the bonds is China Merchants Bank Co., Ltd., with Industrial Bank Co., Ltd. serving as the co-lead underwriter [2]. - The company has been verified as not being a subject of credit dishonesty according to the "Credit China" website [2].

证券代码：000685 证券简称：中山公用 公告编号：2025-048 中山公用事业集团股份有限公司 关于 2025 年度第二期超短期融资券 发行情况公告 1 | 发行利率 1.69% | | 发行价格 | 100 元/百元 | | --- | --- | --- | --- | | | 申购情况 | | | | 合规申购家数 20 家 | | 合规申购金额 | 19.80 亿元 | | 最高申购价位 2.20% | | 最低申购价位 | 1.56% | | 有效申购家数 8 家 | | 有效申购金额 | 5.30 亿元 | | 簿记管理人 | | 招商银行股份有限公司 | | | 主承销商 | | 招商银行股份有限公司 | | | 联席主承销商 | | 兴业银行股份有限公司 | | 经通过"信用中国"网站（www.creditchina.gov.cn）核查，公司不属于失信责任主 体。 本期超短期融资券发行的有关文件在中国货币网(www.chinamoney.com.cn)和上海清 算所网站（www.shclearing.com）公告。 特此公告。 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚 ...

Group 1 - The company is a public utility platform under the Zhongshan State-owned Assets Supervision and Administration Commission, focusing on three main sectors: water services, solid waste management, and renewable energy [1] - Water services serve as the core business, ensuring stable revenue, with a water supply capacity of 2.65 million tons per day and a market share of 94%. A potential price adjustment of 20% to 30% could increase net profit by 120 to 180 million yuan, representing a 10% to 15% increase in net profit for 2024 [1] - The solid waste management sector is expanding through acquisitions, with a projected capacity of 6,120 tons per day by 2025 [1] - In renewable energy, the company is establishing joint ventures and Pre-REITs funds, focusing on distributed photovoltaic and integrated energy storage, with approximately 500 MWp currently connected or under construction [1] Group 2 - The company holds a 10.55% stake in GF Securities, contributing significantly to its profits, with an estimated net profit of 1.199 billion yuan in 2024, of which 1.008 billion yuan comes from investment income [2] - GF Securities is expected to see improvements in performance and valuation due to structural changes and a stronger market, which could positively impact the company's overall performance [2] - The company plans to implement a three-year shareholder return plan and promote equity incentives, with a special dividend payout ratio of 53% expected in 2024 [2] - Forecasted net profits for the company from 2025 to 2027 are 1.428 billion, 1.775 billion, and 2.072 billion yuan, respectively, with a reasonable valuation estimated at 18.3 to 19.4 billion yuan, indicating a potential upside of 29% to 36% from the current market value [2]

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for investment opportunities [7]. Core Views - The company is positioned as a public utility platform under the Zhongshan State-owned Assets Supervision and Administration Commission, focusing on water, solid waste, and new energy sectors, with water services providing stable revenue [6][13]. - The company is expected to enter a growth phase, driven by strategic expansions in its core businesses, particularly in water supply and solid waste management, alongside new energy initiatives [6][36]. - The company holds a 10.55% stake in GF Securities, which is a significant asset contributing to its profits, and the valuation of this stake is anticipated to increase [6][16]. Financial Data and Profit Forecast - Total revenue for 2024 is projected at 5,678 million yuan, with a year-on-year growth rate of 9.2% [2]. - The net profit attributable to shareholders is expected to reach 1,199 million yuan in 2024, reflecting a 24% increase compared to the previous year [2]. - Earnings per share (EPS) is forecasted to be 0.82 yuan for 2024, with a projected increase to 1.40 yuan by 2027 [2]. Business Segments Water Services - The company has a water supply capacity of 265,000 tons per day, capturing 94% of the market share in Zhongshan, with potential price adjustments expected to increase net profits by 120 to 180 million yuan [6][42]. - The wastewater treatment capacity is currently 126,000 tons per day, with ongoing projects aimed at enhancing infrastructure and service quality [6][43]. Solid Waste Management - The company is actively pursuing acquisitions in the solid waste sector, with a projected capacity of 6,120 tons per day by 2025 following recent acquisitions [6][43]. New Energy - The company is establishing joint ventures and funds to develop distributed photovoltaic and energy storage projects, with approximately 500 MWp currently under construction or connected to the grid [6][43]. Shareholder Returns - The company has announced a special dividend of 5.14 billion yuan for 2024, resulting in a dividend payout ratio of 53% [32]. - A three-year shareholder return plan is expected to be implemented, focusing on enhancing shareholder value through dividends and potential stock incentives [34].

Summary of Zhongshan Public Utilities Conference Call Company Overview - Zhongshan Public Utilities benefits from three main sectors: water supply, solid waste management, and renewable energy [2][4] - The company has a market share of 94% in the water supply sector due to the implementation of the "One Water Supply" project [2][4] - The solid waste sector contributes approximately 200 million yuan annually in profits, with a total incineration capacity nearing 6,000 tons per day [2][4][14] - The renewable energy sector has established a 3 billion yuan industrial fund in collaboration with Yijing Optoelectronics, investing in 23 projects primarily in photovoltaic power generation [2][4][18] Key Points and Arguments Water Supply - Projected water sales volume for 2024 is 450 million tons, a year-on-year increase of 7.5% [2][8] - The increase in water demand is attributed to the "One Water Supply" project, the opening of the Shenzhen-Zhongshan Bridge, and the integration of the Greater Bay Area [2][8] - The company plans to adjust water prices, with necessary support work completed, and the process is now government-led [2][6][25] Solid Waste Management - The solid waste sector has a strong profit margin, cash flow, and return on assets, outperforming other segments [2][15] - Recent acquisitions include Changqing Energy and Changqing Thermal, with a combined capacity of 2,250 tons [13][14] - The company is exploring two options for the future of these projects: entrusted operation or repurchase after paying the concession fee [13] Renewable Energy - The renewable energy sector is still in the investment phase, with no direct returns yet, but is expected to enter an exit phase around 2026-2027 [2][18] - The company has invested in various projects, including a focus on photovoltaic and integrated energy storage [18] Financial Performance and Strategy - The company maintains a stable dividend policy, with a payout ratio of no less than 30% [3][21] - Future capital expenditures will focus on maintenance rather than large-scale projects, particularly in the water and wastewater sectors [22] - The company aims to recover accounts receivable to ensure continued dividend payments [27] Market Position and Shareholder Structure - The major shareholders include state-owned enterprises and central enterprises, providing strong support for market operations [5] - The company holds shares in GF Securities, contributing significantly to profits, with plans to potentially increase holdings based on market conditions [20][21] Challenges and Outlook - The company faces challenges with accounts receivable, particularly in the sanitation business, which may impact cash flow [26][27] - Overall performance for 2025 is expected to be optimistic, benefiting from stable core operations and increased investment returns from GF Securities [28] Additional Important Information - The company is exploring light asset models for wastewater treatment services, focusing on technology and management service outputs [10] - The wastewater treatment market share is approximately 46%, with future growth expected to align with population growth [10] - The integration of the venue and network project is set to complete by 2025, transitioning to a government payment phase [10][11]

Market Overview - In July, the Shanghai and Shenzhen 300 Index increased by 3.54%, while the public utility index decreased by 0.77% and the environmental index increased by 2.10%. The relative returns for public utilities and environmental sectors were -4.32% and -1.94%, respectively [1][15][23]. - Among the sub-sectors, the environmental sector rose by 1.60%, with thermal power increasing by 1.21%, hydropower decreasing by 4.35%, and new energy generation rising by 0.80% [1][15][24]. Important Policies and Events - The Guangdong Provincial Development and Reform Commission announced adjustments to the capacity pricing for coal and gas power plants, effective from January 1, 2026, with coal power set at 165 yuan per kilowatt per year and gas power varying from 165 to 396 yuan depending on the type of gas used [2][16][17]. - The Ningxia Hui Autonomous Region proposed a market-oriented reform plan for new energy pricing, setting a benchmark price for coal-fired power at 0.2595 yuan per kilowatt-hour [2][17]. Sector Research - The National Development and Reform Commission and the National Energy Administration issued guidelines to improve the pricing mechanism for domestic natural gas pipeline transportation, aiming for a unified pricing model and a permitted return rate of approximately 5.7%, down from 8% [3][18][20]. - This new regulation is expected to lower transportation costs for natural gas, benefiting urban gas companies [3][20]. Investment Strategy - Public Utilities: Recommendations include large thermal power companies like Huadian International and Shanghai Electric, as coal and electricity prices are expected to decline [4][21]. - New Energy: Continued government support for new energy development is anticipated to stabilize profitability, with recommendations for leading companies such as Longyuan Power and Three Gorges Energy [4][21]. - Nuclear Power: Expected stable profitability due to growth in installed capacity and generation, with recommendations for China Nuclear Power and China General Nuclear Power [4][21]. - Hydropower: High-dividend hydropower stocks are highlighted for their defensive attributes, with Longjiang Power recommended [4][21]. - Gas: Recommendations include China Resources Gas and Jiufeng Energy, which have strong pricing power and strategic advantages [4][21]. Sector Performance - In July, the public utility sector ranked 30th among 31 sectors, while the environmental sector ranked 22nd [1][15][23]. - The performance of various sub-sectors showed mixed results, with water utilities and gas sectors generally performing better than thermal and hydropower sectors [1][15][24]. Key Company Earnings Forecasts - Huadian International (600027.SH): EPS forecast for 2024A at 0.46 yuan, PE ratio at 11.5 [9]. - Longyuan Power (001289.SZ): EPS forecast for 2024A at 0.75 yuan, PE ratio at 21.8 [9]. - China Nuclear Power (601985.SH): EPS forecast for 2024A at 0.46 yuan, PE ratio at 19.9 [9]. - Longjiang Power (600900.SH): EPS forecast for 2024A at 1.33 yuan, PE ratio at 21.0 [9].

Group 1 - The medical waste treatment sector saw an increase of 1.24% as of the market close on August 1, with a total capital inflow of 15.67 million [1] - A total of 25 stocks in the sector experienced gains, while 4 stocks declined [1] - The top-performing stocks included: Saili Medical (6.2%), Zhongshan Public Utilities (4.26%), Xuelang Environment (4.02%), Donghua Technology (4.0%), and Gangtong Medical (3.41%) [1] Group 2 - The stocks with the largest capital inflow were: Saili Medical with 3.49 million, Zhongshan Public Utilities with 6.48 million, and Xuelang Environment with 4.99 million [1] - The stocks that experienced the largest declines included Huakang Clean (−5.97%), Wanbangda (−0.64%), and Zhonggang International (−0.47%) [1] - The overall market sentiment in the medical waste treatment sector appears positive, with significant capital inflow into several key stocks [1]

证券之星消息，8月1日环境治理板块较上一交易日上涨0.82%，金科环境领涨。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。环境治理板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688466 | 我的不错 | 21.63 | 11.27% | 4.93万 | | 1.06亿 | | 603686 | 福龙马 | 16.85 | 6.51% | 61.30万 | | 10.17亿 | | 688335 | 复洁坏保 | 14.14 | 4.90% | 4 3.86万 | | 5418.25万 | | 605069 | 正和生态 | 11.34 | 4.81% | 15.95万 | | 1.80亿 | | 000685 | 中山公用 | 9.78 | 4.26% | 24.52万 | | 2.37亿 | | 301259 | 文布鲁 | 41.64 | 4.26% | 6.54万 | | 2.70亿 | | ...