New Stock Listings - Daming Electronics (603376) listed at an issue price of 12.55 on November 6, 2025[1] - Haixia Innovation (300300) and Jiangbolong (301308) reported severe abnormal fluctuations on November 4, 2025[1] - Several companies including Xiangnan Xinchuan (300475) and Lansi Heavy Industry (603169) also reported abnormal fluctuations in late October[1] Abnormal Fluctuations - ST Bosen (002569) reported a fluctuation of 5939 on November 5, 2025[2] - Hailu Heavy Industry (002255) experienced a fluctuation of 5812 on November 5, 2025[2] - ST Aowei (002231) had a fluctuation of 5668 on November 5, 2025[2] - Rongke Technology (300290) reported a fluctuation of 4706 on November 3, 2025[2] - ST Xiongmao (600599) had a fluctuation of 5001 on November 4, 2025[2]

Market Overview - The environmental equipment sector rose by 0.37% on November 6, with *ST Jieneng leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Key stocks in the environmental equipment sector showed varied performance, with *ST Jieneng closing at 3.27, up 5.14%, and Hengying Environmental at 27.88, up 5.01% [1] - Other notable performers included Guolin Technology at 16.95, up 2.17%, and Zhongcai Energy at 7.49, up 1.49% [1] Trading Volume and Value - The trading volume for *ST Jieneng was 153,100 shares, with a transaction value of approximately 49.79 million yuan [1] - Hengying Environmental had a trading volume of 30,300 shares, with a transaction value of about 83.54 million yuan [1] Capital Flow - The environmental equipment sector saw a net inflow of 9.74 million yuan from institutional investors, while retail investors experienced a net outflow of 10.56 million yuan [2][3] - Major stocks like Guolin Technology and Meai Technology had significant capital movements, with Guolin Technology seeing a net outflow of 22.64 million yuan from institutional investors [3]

Core Viewpoint - The report highlights significant growth in China's waste resource recycling industry, with a notable increase in export value and market trends projected for 2025-2031 [1] Industry Summary - As of September 2025, the total export value of the waste resource recycling industry reached 1.13 billion, marking a year-on-year increase of 112.4% [1] - Cumulatively, from January to September 2025, the industry recorded an export value of 6.43 billion, reflecting a year-on-year growth of 48.1% [1] - The report is based on data from the National Bureau of Statistics and provides insights into the competitive landscape and industry trends [1] Company Summary - Listed companies in the waste resource recycling sector include: Greenme (002340), Huicheng Environmental (300779), Shenwu Energy Saving (000820), Farsen (000890), Yingfeng Environment (000967), Chuhuan Technology (001336), Longjing Environmental (600388), Fida Environmental (600526), Yutong Heavy Industry (600817), and Jingjin Equipment (603279) [1]

证券代码：000820 股票简称：*ST节能 公告编号：2025-070 神雾节能股份有限公司 关于股票交易异常波动的公告 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。 一、股票交易异常波动情况 神雾节能股份有限公司（以下简称"公司"或"本公司"）股票（证券简称： *ST节能、证券代码：000820）2025年10月31日、11月3日、11月4日连续3个交易 日内收盘价格涨幅偏离值累计达12.93%，根据深圳证券交易所的相关规定，属于 股票交易异常波动的情况。 二、公司关注、核实情况说明 针对公司股价异常波动，公司通过电话问询、书面函件及其他通讯方式对控 股股东、实际控制人及公司全体董事和高级管理人员就有关事项进行了核实，现 将核实情况说明如下： 1、公司于2025年7月26日、8月16日和9月3日在巨潮资讯网上披露了《关于 控股股东所持部分股份被司法拍卖进展公告》（公告编号：2025-049；2025-059； 2025-064）。截止目前，公司尚未收到关于上述两次法拍事项后续处置的具体通 知。公司将密切关注股份法拍事项的进展情况，并及时履行信息披露义务。 ...

关于公司2022年股票期权激励计划部分股票期权 注销完成的公告 | 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。 | 证券代码：000820 证券简称：*ST节能 公告编号：2025-069 神雾节能股份有限公司 神雾节能股份有限公司（以下简称"公司"）于 2025年10月27日召开第十 届董事会第八次临时会议审议通过了《关于注销2022年股票期权激励计划部分股 票期权的议案》。 根据公司《2022年股票期权激励计划》《2022年股票期权激励计划实施考核 管理办法》的相关规定，预留授予第二个行权期公司需满足下列两个条件之一： 1、以 2021年营业收入为基数，公司2022年至2024年营业收入增长率的平均值不 低于47%；2、以2021年净利润为基数，公司2022年至2024年净利润增长率的平 均值不低于30%。上述两个业绩指标公司均未达到，因此预留授予第二个行权期 10名激励对象已获授但尚未行权的共计2,786,226份股票期权不得行权，由公司进 行注销。具体内容详见公司于2025年10月28日刊登在巨潮资讯网（http://www ...

Core Insights - The environmental equipment sector experienced a rise of 0.67% on November 3, with *ST节能 leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Environmental Equipment Sector Performance - The top-performing stock was *ST节能, closing at 2.92 with a gain of 5.04%, trading volume of 278,900 shares and a turnover of 80.90 million yuan [1] - Other notable performers included 菲达坏保 (5.79, +3.76%), 盈峰环境 (7.13, +3.63%), and 美埃科技 (46.84, +3.47%) [1] - The sector saw a mixed performance with some stocks declining, such as 恒合股份 (26.45, -2.69%) and 久音筒科 (30.98, -2.58%) [2] Capital Flow Analysis - The environmental equipment sector had a net outflow of 57.99 million yuan from institutional investors, while retail investors saw a net inflow of 40.93 million yuan [2] - Notable net inflows from retail investors were observed in stocks like 菲达环保 and 恒营环保, while institutional investors showed a preference for stocks like 龙净环保 [3]

Market Overview - The environmental equipment sector rose by 0.86% on October 31, with *ST Jieneng leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Key stocks in the environmental equipment sector showed varied performance, with *ST Jieneng closing at 2.78, up 4.91% on a trading volume of 90,600 shares [1] - Other notable performers included Fida Environmental at 5.58, up 4.69%, and ST Xianhe at 8.51, up 3.78% [1] Trading Volume and Value - The trading volume and value for selected stocks in the environmental equipment sector were significant, with Fida Environmental achieving a transaction value of 175 million yuan [1] - The overall trading activity in the sector indicated a mixed sentiment among investors, with some stocks experiencing substantial trading volumes [1] Capital Flow Analysis - The environmental equipment sector saw a net outflow of 47.27 million yuan from institutional investors, while retail investors contributed a net inflow of 90.41 million yuan [2] - The capital flow data indicates a divergence in investor sentiment, with institutional investors pulling back while retail investors increased their positions [2] Individual Stock Capital Flow - Notable capital flows included Huahong Technology with a net inflow of 22.09 million yuan from institutional investors, while *ST Jieneng experienced a net outflow of 4.48 million yuan from retail investors [3] - The data reflects varying levels of confidence among different investor groups in the environmental equipment sector [3]

Core Viewpoint - *ST Jieneng's stock reached the daily limit with a price of 2.78 yuan, reflecting a 4.91% increase, driven by positive developments in its renewable energy business and improved financial performance [1][2]. Group 1: Business Developments - The company is actively expanding in the renewable energy and low-carbon materials sectors, securing a 304.5 million yuan EPC contract for a storage project, aligning with national policy directions [2]. - An investment of 120 million yuan in a recycled copper project is aimed at extending the company's industrial chain, which is expected to enhance future growth prospects [2]. Group 2: Financial Performance - For Q3 2025, the company's net profit loss narrowed by 44.43% year-on-year, indicating signs of operational improvement [2]. - Contract liabilities increased by 3731.98%, suggesting a robust order reserve that supports future performance [2]. - The company's subsidiary in the renewable energy sector, Hubei Fuyou, reported a profit of 2.189 million yuan, boosting market confidence [2]. Group 3: Market Trends - The renewable energy and storage sectors are currently popular in the market, with certain stocks in the same sector showing active performance [2]. - On October 31, 2025, there was notable capital inflow into the storage sector, contributing to a sector-wide momentum that positively impacted *ST Jieneng's stock [2]. - Technical analysis suggests that news of improved performance and business expansion may attract further capital inflow, potentially driving stock price increases [2].

Core Viewpoint - *ST节能 announced a provision for credit impairment of approximately 14.96 million yuan to reflect the asset status and operating results more accurately for the first three quarters of 2025 [1] Financial Summary - The company conducted impairment testing on accounts receivable, other receivables, and notes receivable, identifying signs of impairment [1] - The credit impairment provision includes approximately 14.88 million yuan for accounts receivable, 100,000 yuan for other receivables, and a reversal of 2,190 yuan for notes receivable [1] - This provision will reduce the net profit attributable to shareholders of the listed company by approximately 7.6681 million yuan for the first nine months of 2025 [1] Revenue Composition - For the first half of 2025, the revenue composition of *ST节能 is as follows: 53.71% from the energy and power industry, 42.28% from the metallurgy industry, and 4.01% from the coal and chemical industry [1] Market Capitalization - As of the report date, the market capitalization of *ST节能 is 1.8 billion yuan [1]

证券代码：000820 证券简称：*ST 节能 公告编号：2025-068 神雾节能股份有限公司 关于计提信用减值准备的公告 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。 神雾节能股份有限公司（以下简称"公司"）本着谨慎性原则，对合并报表 范围内截至 2025 年 9 月 30 日的应收账款、其他应收款等科目进行了减值测试， 并确认了相应的信用减值准备，现将相关情况公告如下： 一、本次计提信用减值准备的情况 根据《企业会计准则》《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》等相关规定的要求，基于谨慎性原则，为了更加真实、 准确地反映公司 2025 年前三季度资产状况和经营成果，公司对截至 2025 年 9 月 30 日合并报表范围内的应收账款、其他应收款、应收票据进行了减值测试， 判断存在发生减值的迹象，并根据会计准则对相关款项按组合计提坏账准备 14,959,379.77 元。 二、信用减值准备计提依据 | 项 目 | 确定组合的依据 | | --- | --- | | 单项金额重大的判断依 | 公司将单项金额 1,000 万元 ...