山高环能集团股份有限公司 独立董事 2024 年度述职报告 作为山高环能集团股份有限公司（以下简称"公司"）的独立董事，本人按 照《中华人民共和国公司法》《证券法》《深圳证券交易所上市公司自律监管指 引第1号—主板上市公司规范运作》《上市公司独立董事管理办法》等法律法规 和《公司章程》、公司《独立董事工作制度》的要求，于2024年度勤勉尽责地履 行了独立董事职责。本年度中，本人秉持独立、审慎、认真的原则，充分行使独 立董事的职权，及时了解公司的经营状况，积极参与公司召开的相关会议及独立 董事专门会议，认真审议并表决各项议案，有效发挥了独立董事及各专业委员会 委员的职能作用，切实维护了公司和全体股东特别是中小股东的合法权益。现将 2024年度的履职情况汇报如下： 一、基本情况 秦宇：1977 年 7 月出生，中国国籍，无境外永久居留权，工商管理硕士。 先后服务于珠海市义云投资有限责任公司、桂林市上海路开发有限责任公司、桂 林市城市管理监察支队、桂林市临桂新区管理委员会、桂林首科鑫福海生态旅游 投资有限责任公司等企业与政府管理部门，历任临桂新区管理委员会办公室副主 任、主任，桂林首科鑫福海生态旅游投资有限责任公司 ...

山高环能集团股份有限公司 独立董事 2024 年度述职报告 2024年度，本人作为山高环能集团股份有限公司（以下简称"公司"）的独 立董事，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 独立董事管理办法》《深圳证券交易所上市公司自律监管指引第1号—主板上市 公司规范运作》及《公司章程》、公司《独立董事工作制度》等相关规定，本着 独立、客观、公正的原则，勤勉尽责，充分行使独立董事职权，切实维护了公司、 全体股东特别是中小股东的合法权益。现将本人2024年度的履职情况汇报如下： 一、基本情况 何春：1977 年出生，中国国籍，大学学历。2001 年 8 月至 2003 年 3 月任四 川蜀嘉律师事务所律师；2003 年 3 月至今先后任四川惠博律师事务所律师、合 伙人、副主任；2018 年 11 月起任南充市律师协会第四届刑专委委员；2018 年 6 月至 2021 年 3 月任四川大成律所联盟理事；2020 年 9 月起为南充市律师调解名 录库入库律师；2022 年至 2023 年度南充市企业法律服务团专家成员；2022 年 10 月起任四川天府银行股份有限公司独立董事；2024 年 1 月起 ...

山高环能集团股份有限公司 独立董事 2024 年度述职报告 本人王守海，作为山高环能集团股份有限公司（以下简称"公司"）的独立 董事，按照《中华人民共和国公司法》《中华人民共和国证券法》《上市公司独 立董事管理办法》《深圳证券交易所上市公司自律监管指引第1号—主板上市公 司规范运作》及《公司章程》等相关规定，切实履行了独立董事职责。本人秉持 独立、客观、审慎的原则，充分利用自身的专业优势和独立判断，积极有效地行 使职权，致力于推动公司的稳健前行、健康发展，维护公司和股东的最大利益。 现将本人2024年度的履职情况汇报如下： 一、基本情况 王守海：1976 年出生，博士研究生学历，注册会计师。现为山东财经大学 会计学院教授、副院长，博士生导师，主要从事会计准则与公司治理研究，现为 《会计研究》《审计研究》《管理评论》《财务研究》《财贸经济》外审专家， 全国会计职称考试命题、审题专家，现任浪潮软件股份有限公司、威海克莱特菲 尔风机股份有限公司独立董事，2022 年 12 月至今任公司独立董事。 2024 年度任职期内，本人作为公司独立董事，未在公司担任除独立董事以 外的任何职务，本人及其直系亲属、主要社会关系均未 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 433,950,127.51, representing a 4.21% increase compared to CNY 416,414,141.10 in the same period last year[4] - Net profit attributable to shareholders was CNY 28,267,833.55, a significant increase of 222.23% from CNY 8,772,491.10 year-on-year[4] - The net profit after deducting non-recurring gains and losses reached CNY 29,657,866.31, up 350.43% from CNY 6,584,377.18 in the previous year[4] - Basic earnings per share increased to CNY 0.06, a 200.00% rise from CNY 0.02 in the same quarter last year[4] - Total operating revenue for the current period reached ¥433,950,127.51, an increase of 4.0% compared to ¥416,414,141.10 in the previous period[18] - Net profit for the current period was ¥28,431,127.33, a significant increase of 250.0% from ¥8,134,078.64 in the previous period[19] Cash Flow and Liquidity - The company's cash flow from operating activities improved to -CNY 11,974,826.51, a 51.61% reduction in losses compared to -CNY 24,748,449.62 last year[4] - Cash inflow from operating activities was ¥367,704,806.82, compared to ¥340,009,804.15 in the previous period, representing an increase of 8.2%[21] - The net cash flow from operating activities was -$11,974,826.51, an improvement from -$24,748,449.62 in the previous period[22] - Cash inflow from financing activities reached $559,007,646.88, significantly higher than $311,722,493.00 in the prior period[22] - The company reported a cash increase of $57,510,529.63, contrasting with a decrease of $60,531,460.26 in the prior period[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,265,821,312.00, reflecting a 1.21% increase from CNY 5,203,034,507.35 at the end of the previous year[4] - The company's total liabilities increased to ¥3,794,354,425.45 from ¥3,760,023,712.74, reflecting a rise of 0.9%[16] - Total current assets increased to ¥857,776,668.91 from ¥743,987,824.13, representing a growth of approximately 15.3%[15] - Total liabilities and equity combined reached ¥5,265,821,312.00, an increase from ¥5,203,034,507.35, reflecting a growth of 1.2%[16] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 18,061[11] - The largest shareholder, Shandong High Photovoltaic Power Development Co., Ltd., holds 16.42% of shares, totaling 77,334,600 shares[11] - The company reported a total of 5,400,000 shares held by China Pacific Life Insurance Co., Ltd. under a single asset management plan[12] Other Financial Metrics - Total operating costs amounted to ¥390,061,575.36, slightly up from ¥389,772,268.89, indicating a marginal increase of 0.1%[18] - The total amount of other income increased to ¥8,909,259.89 from ¥2,501,920.39, a growth of 255.0%[19] - Research and development expenses decreased to ¥405,982.45 from ¥1,502,072.86, a reduction of 73.0%[19] - The company incurred tax payments of $18,870,592.74, down from $22,681,950.62 in the previous period[22]

山高环能（000803）公告，2025年第一季度营业收入4.34亿元，同比增长4.21%。净利润2826.78万元， 同比增长222.23%。 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [4][6]. Core Views - The report highlights that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power companies. Recommendations include major thermal power enterprises such as Huadian International and Shanghai Electric [3][6]. - Continuous government policies supporting renewable energy development are anticipated to stabilize profitability in the renewable energy sector. Recommended companies include Longyuan Power, Three Gorges Energy, and regional offshore wind power companies like Guangxi Energy and Funiu Co [3][6]. - The growth in installed capacity and power generation is expected to offset the downward pressure on electricity prices, with nuclear power companies like China Nuclear Power and China General Nuclear Power projected to maintain stable profitability [3][6]. - High-dividend hydropower stocks are highlighted for their defensive attributes in a global interest rate decline context, with recommendations for Changjiang Electric Power [3][6]. - The environmental sector, particularly water and waste incineration industries, is entering a mature phase with significant improvements in free cash flow. Recommended companies include China Everbright Environment and Zhongshan Public Utilities [3][6]. Summary by Sections Market Review - The Shanghai Composite Index rose by 0.59%, while the public utility index increased by 1.77%. The environmental index saw a slight increase of 0.04% [12][19]. - In March, the total electricity consumption reached 828.2 billion kWh, marking a year-on-year growth of 4.8% [13][49]. Important Policies and Events - The report notes that in March, the first industry electricity consumption was 10.6 billion kWh (up 9.9%), the second industry was 557.8 billion kWh (up 3.8%), and the third industry was 148.4 billion kWh (up 8.4%) [13][52]. Key Company Profit Forecasts and Investment Ratings - Huadian International, Jin Kai New Energy, Shanghai Electric, Longyuan Power, and others are rated as "Outperform" with specific EPS and PE forecasts provided [6]. Industry Dynamics - The report discusses the decline in the import of mass spectrometers from the US, with a significant drop in both import value and quantity from 2020 to 2024 [15][17]. Sector Performance - The report indicates that the public utility and environmental sectors ranked 7th and 23rd respectively among 31 industry classifications in terms of performance [12][19]. Electricity Industry Data - The report provides detailed statistics on electricity generation, noting a 1.8% year-on-year increase in industrial electricity production in March, with specific growth rates for different energy sources [42][49]. Carbon Market Overview - The report includes insights into the domestic carbon market, highlighting recent price trends and trading volumes [86][87]. Coal Price Trends - The report notes that the price of thermal coal remained stable, with the price at the port reported at 678 RMB/ton [99].

Investment Rating - The report maintains a "Strong Outperform" rating for the biodiesel industry [1] Core Viewpoints - The biodiesel industry is experiencing a shift from export reliance to domestic demand stimulation, driven by policy support and the gradual resolution of export challenges [4][5] - Global biodiesel consumption is projected to grow, particularly in the EU, the US, Indonesia, and Brazil, with significant increases in demand for advanced biodiesel products [5][17] - China's biodiesel consumption remains low, but there is substantial potential for growth if B5 blending is implemented nationwide, which could create a market space exceeding 6 million tons [4][34] Summary by Sections 1. Biodiesel Market Dynamics - The global biodiesel consumption has a compound annual growth rate (CAGR) of 9.8% from 2010 to 2023, with significant contributions from the EU, US, Indonesia, and Brazil [4][15] - The EU's RED III policy aims to increase the share of advanced biofuels in transportation energy consumption to 5.5% by 2030, which is expected to enhance demand for China's HVO and SAF biodiesel [20][29] 2. Raw Material Supply and Demand - China's biodiesel production primarily relies on waste cooking oil (UCO), with a theoretical annual capacity exceeding 8 million tons, but actual collection is around 5.4 million tons [4][34] - The report anticipates a shift in UCO usage from export to domestic production, especially for second-generation biodiesel (HVO) and sustainable aviation fuel (SAF) [4][5] 3. Company Focus - The report highlights key companies in the biodiesel sector: - Zhuoyue New Energy, a leader in first-generation biodiesel with upcoming second-generation production [5] - Shangaohuan Energy, a leading supplier of UCO with significant waste cooking oil processing capacity [5] - Langkun Environment, focused on biomass waste treatment and actively expanding into biodiesel [5]

证券代码：000803 证券简称：山高环能 公告编号：2025-008 山高环能集团股份有限公司 关于为下属公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别风险提示： 山高环能集团股份有限公司（以下简称"公司"或"山高环能"）及控股子公司 对外担保总额超过最近一期经审计净资产 100%，对资产负债率超过 70%的被担 保对象的担保金额超过公司最近一期经审计净资产 50%。敬请广大投资者充分关 注担保风险。 一、担保情况概述 山高环能下属公司山高十方环保能源集团有限公司（以下简称"山高十方"） 因业务需要，拟与天津银行股份有限公司济南分行（以下简称"天津银行"）开展 综合授信（信用证福费廷）业务，开证授信额度为等值于人民币7,000万元，其 中敞口融资额度4,900万元，额度有效期1年。公司为其提供连带责任保证担保。 2024 年 4 月 28 日、2024 年 5 月 21 日公司分别召开了第十一届董事会第十 二次会议与 2023 年年度股东大会，会议审议通过《关于 2024 年度对外担保额度 预计的议案》，同意自公司 2023 年 ...

华商新趋势优选灵活配置混合基金经理为童立。 4月7日，山高环能股票盘中跌停，山高环能集团股份有限公司(股票代码:000803)是深圳证券交易所主板上市公司,山东高速集团旗下环保与绿色能源业务版 块,聚焦固废处理与再生能源领域,以技术为核心,资本为翼,管理为纲,专注有机废弃物处置与资源化利用项目投资运营,打造再生油脂加工出口贸易平台。 财报显示，华商基金旗下华商新趋势优选灵活配置混合为山高环能前十大股东，去年四季度不变，持股比例为0.85%。今年以来收益率5.92%，同类排名 380(总2324)。 简历显示，童立先生:中国籍,经济学硕士,具有基金从业资格。2011年7月加入华商基金管理有限公司,曾任行业研究员、研究发展部总经理助理、研究发展部 副总经理;2015年7月21日至2016年4月11日担任华商价值共享灵活配置混合型发起式证券投资基金的基金经理助理;2016年4月12日至2017年4月21日担任华商 价值共享灵活配置混合型发起式证券投资基金的基金经理;2016年12月23日起至今担任华商新锐产业灵活配置混合型证券投资基金的基金经理;2017年12月21 日起至今担任华商研究精选灵活配置混合型证券投资基 ...

Group 1 - The report emphasizes the defensive attributes of the public utility sector, particularly in light of recent policy changes aimed at enhancing price governance mechanisms [1][14][30] - In March, the Shanghai Composite Index fell by 0.07%, while the public utility index rose by 1.87%, indicating a relative outperformance of the sector [1][32] - The report highlights the significant drop in coal prices, which enhances the profitability of thermal power generation, with a projected increase in earnings per kilowatt-hour as coal prices decrease [2][16][18] Group 2 - The report recommends major thermal power companies such as Huadian International and Shanghai Electric, citing their resilience in the face of declining coal prices and electricity prices [3][30] - It notes that the water and waste incineration sectors are entering a mature phase, with improved free cash flow and a favorable investment environment due to declining risk-free rates [31] - The report identifies high-dividend water power stocks, particularly Changjiang Electric Power, as having strong defensive characteristics and long-term investment value [24][25][29] Group 3 - The report discusses the expected stability in nuclear power company earnings, recommending companies like China Nuclear Power and China General Nuclear Power [3][30] - It highlights the growth potential in the renewable energy sector, recommending leading companies such as Longyuan Power and Three Gorges Energy, which are expected to benefit from ongoing government support for new energy development [3][30] - The report also points out the significant market opportunity in the domestic waste oil recycling industry, recommending companies like Shanggou Environmental Energy as beneficiaries of upcoming EU policies [31]