Core Viewpoint - The environmental governance sector experienced a positive performance on August 15, with a 0.86% increase, led by Huakong Saige [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3696.77, up 0.83% [1] - The Shenzhen Component Index closed at 11634.67, up 1.6% [1] - Key stocks in the environmental governance sector showed significant gains, with Huakong Saige leading at a 10.08% increase [1] Group 2: Stock Performance Details - Huakong Saige (000068) closed at 4.04 with a 10.08% increase, trading volume of 254,100 shares, and a transaction value of 100 million yuan [1] - Fulongma (603686) closed at 19.71, up 9.99%, with a trading volume of 540,200 shares and a transaction value of 1.048 billion yuan [1] - Zhongzhi Holdings (603903) closed at 8.60, up 9.97%, with a trading volume of 164,400 shares and a transaction value of 14.1 million yuan [1] - Other notable performers include Wenbululu (301259) at 5.92% increase and Jinyu Environment (001230) at 3.58% increase [1] Group 3: Capital Flow - The environmental governance sector saw a net inflow of 366 million yuan from main funds, while retail investors experienced a net outflow of 193 million yuan [2] - The overall capital flow indicates a mixed sentiment among retail and institutional investors within the sector [2]

Summary of the Conference Call on the Sanitation Industry Industry Overview - The sanitation industry is facing challenges such as aging workforce and rising labor costs, making automation technology a pressing need for long-term development. The market size for sanitation equipment is expected to reach 200 billion yuan [1][5][15]. Key Insights and Arguments - In the first half of 2025, the number of projects applying for unmanned sanitation equipment exceeded 90, doubling from 2024, with an expected industry growth rate of 130% for the year, primarily driven by policy support [1][6]. - Unmanned technology significantly enhances corporate performance, with some companies experiencing performance elasticity exceeding 70%. Beneficiaries include companies like Fulongma, Jinjing Environment, Qiaoyin Co., and Yuhua Tian [1][7]. - Small-tonnage intelligent sanitation equipment (under 3 tons) is suitable for closed or semi-closed environments, capable of replacing 2-3 workers. Initial pricing at 300,000 yuan can achieve economic parity in 3-4 years, while a reduction to 200,000 yuan accelerates this to 2-3 years [1][13]. - Large-tonnage L4 unmanned sanitation vehicles (over 6 tons) are designed for open municipal roads, with initial costs around 1 million yuan. Economic viability is not apparent in the short term and requires a price drop to around 600,000 yuan to achieve economic parity in 2-3 years [1][13]. Market Potential - The current operational ratio of unmanned equipment is estimated at 20%, with the small equipment market space around 57.5 billion yuan and large equipment around 76.1 billion yuan, totaling over 100 billion yuan. In a neutral optimistic scenario, the market could reach 200-250 billion yuan [1][15]. - The sanitation unmanned equipment market is expected to approach 10 billion yuan by 2025, with major players including Fulongma, Jingyu, Qiaoyin, Yuhua Tian, Yufeng, and Yutong [2][15]. Current Application Status - By 2024, 82 projects were mandated to apply unmanned sanitation equipment, with over 90 projects in the first half of 2025, indicating a doubling growth rate. Key cities like Guangzhou and Shenzhen have policies requiring smart equipment in environmental service contracts [6][9]. Economic Impact on Companies - The introduction of small-tonnage unmanned equipment significantly impacts operational profitability. For instance, Fulongma shows a 177% elasticity in operational profit contribution, followed by Yuhua Tian at 85% and Qiaoyin at 72% [19]. Development Trends - The sanitation industry is undergoing a necessary upgrade from electrification to automation and unmanned technology. The aging workforce and rising labor costs necessitate this shift, with policies driving the adoption of unmanned orders [8][25]. - The market space is substantial, and the industry is at a critical juncture for adopting unmanned technology, with significant policy support from major cities [15][25]. Company Progress - Companies like Yinfeng Environment and Yutong Heavy Industry have made significant advancements in unmanned sanitation technology, with product launches and pilot applications in major cities [17][18]. Conclusion - The sanitation unmanned equipment market is poised for significant growth, driven by policy support and technological advancements. Companies that adapt to this trend are likely to benefit from enhanced operational efficiency and reduced costs, making it a crucial area for investment and development in the coming years [27].

（文章来源：证券日报） 证券日报网讯 8月12日晚间，劲旅环境发布公告称，公司及其子公司于2025年8月12日完成了部分募集 资金专户的销户工作。 ...

证券代码：001230 证券简称：劲旅环境 公告编号：2025-040 劲旅环境科技股份有限公司 关于注销部分募集资金专户的公告 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。 劲旅环境科技股份有限公司（以下简称"公司"）及其子公司于 2025 年 8 月 12 日完成了部分募集资金专户的销户工作。现将相关情况公告如下： 经中国证券监督管理委员会证监许可[2022]1104 号文核准，劲旅环境科技股 份有限公司（以下简称"公司"）于 2022 年 7 月向社会公开发行人民币普通股 （A 股）27,848,337.00 股，每股发行价为 34.51 元，共计募集资金总额为人民币 961,046,109.87 元，扣除发行费用 140,783,409.87 元，募集资金净额为 820,262,700.00 元。该募集资金已于 2022 年 7 月到账。上述资金到账情况已经容 诚会计师事务所（特殊普通合伙）审验，并由其出具了容诚验字[2022]230Z0187 号验资报告。公司对募集资金采取了专户存储管理。 一、募集资金基本情况 二、募集资金存放与管理情况 为了规范 ...

人民财讯8月12日电，企查查APP显示，近日，重庆劲旅新脉环境科技有限公司成立，注册资本5200万 元，经营范围包含：汽车销售；汽车零配件零售；新能源汽车整车销售；专用设备修理等。企查查股权 穿透显示，该公司由劲旅环境（001230）等共同持股。 ...

金融界消息 截至2025年8月11日收盘，劲旅环境（001230）报收于25.72元，上涨5.84%，换手率 14.15%，成交量7.65万手，成交金额1.93亿元。 天眼查商业履历信息显示，劲旅环境科技股份有限公司，成立于2002年，位于合肥市，是一家以从事专 用设备制造业为主的企业。企业注册资本13349.6097万人民币，实缴资本8973.65万人民币。公司法定代 表人为于晓霞。 通过天眼查大数据分析，劲旅环境科技股份有限公司共对外投资了98家企业，参与招投标项目1516次， 知识产权方面有商标信息57条，专利信息225条，此外企业还拥有行政许可21个。 来源：金融界 资金流向方面，今日主力资金净流入1972.20万元，占比成交额10.22%。其中，超大单净流入104.66万 元、占成交额0.54%，大单净流入1867.53万元、占成交额9.67%，中单净流出流出1128.48万元、占成交 额5.85%，小单净流出843.72万元、占成交额4.37%。 劲旅环境最新一期业绩显示，截至2025一季报，公司营业总收入3.80亿元、同比增长0.58%，归属净利 润3876.99万元，同比增长21.26%，扣非 ...

不论为谁工作，凡是付出应有的劳动，劳动者都有获得合理报酬的权利，工资就是报酬的数量化表现形 式之一，这也是不少劳动者的主要收入来源。 (相关资料图) 根据东财Choice数据统计，A股所有上市公司2022年员工人数达到近3000万，薪酬总额达到6万余亿， 2020年人均年薪为18.8万，2021年人均年薪21万、2022年人均年薪21.8万，近三年人均薪酬增长幅度达 到16%。在上市公司已经公布的2022年薪酬数据当中，哪些公司能够让人眼前一亮？哪些又会让人大跌 眼镜？ 非银金融依旧是"高薪聚集地" 那么，这些60万以上的高薪企业都分布在哪些行业？ 整理数据后可以发现，这65家企业共分布于16个申万一级行业，其中电子和非银金融合计就已经占去半 壁江山。当然，考虑到非银金融当中包括券商等被公认的高薪分支，电子行业的覆盖又极其广泛，这样 的数据并不令人奇怪。 (人均年薪60万以上企业最多的前5大申万行业，根据东财Choice数据整理) 如果将统计维度细化到公司层面，情况无疑更加明显。 根据统计，单是2020年人均年薪前20的上市公司当中就有7家非银金融公司，其中渤海租赁还是唯一一 家人均年薪破百万的非银金融上市公 ...

Core Viewpoint - The report highlights the accelerating growth of orders for automated sanitation equipment, indicating a trend of scattered volume increase in the market for unmanned sanitation solutions [1][4]. Investment Highlights - The automation and intelligence of urban sanitation operations are achieved through unmanned equipment, categorized into small-tonnage and large-tonnage devices, as well as humanoid robots for closed-loop scenarios [2]. - Small-tonnage unmanned devices are expected to be more economical, with one unit plus one operator potentially replacing 3-4 workers, leading to significant cost savings [2]. - The market for unmanned sanitation equipment is projected to reach a scale of hundreds of billions, with varying estimates based on the adoption rate of unmanned operations [3]. Market Space Estimation - The market space for small and large-tonnage unmanned devices is estimated at 575 billion to 1,522 billion yuan, depending on the adoption rate of 20%, 30%, or 40% [3]. - The report emphasizes the need for active participation and strategic positioning by various stakeholders in the unmanned sanitation sector to address labor shortages and enhance mechanization rates [4]. Order Growth and Trends - The number of awarded projects for automated sanitation is expected to increase significantly, with 82 projects worth 4.87 billion yuan in 2024 and over 90 projects worth 5.58 billion yuan in the first half of 2025 [1][4]. - The estimated total for awarded projects in 2025 is projected to exceed 180, with a total value of approximately 11.16 billion yuan, reflecting a year-on-year growth of about 129% [1][4]. Economic Analysis - The economic viability of small-tonnage unmanned devices is highlighted, with a price point of 300,000 yuan per unit, which could become economically advantageous as prices decrease to 200,000 yuan [2]. - Large-tonnage unmanned vehicles currently lack economic feasibility but could become viable if prices drop to 600,000 yuan [2]. Company Participation - Various companies are actively developing and deploying unmanned sanitation solutions, including 盈峰环境, 宇通重工, 福龙马, and others, indicating a robust competitive landscape [4]. - The report suggests that the transition to unmanned sanitation will help companies reduce costs and increase profitability, with projected performance elasticity for several companies ranging from 76% to 296% [5].

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1] Core Viewpoints - The automation and intelligence of urban sanitation operations are being achieved through unmanned sanitation equipment, which can be categorized into small-tonnage, large-tonnage, and humanoid robots [4][10] - Small-tonnage unmanned equipment is expected to be more economical and will likely see earlier market adoption [4][13] - The market potential for unmanned sanitation and driving equipment is estimated to reach a trillion yuan level, with various scenarios predicting market sizes ranging from 575 billion to 1,522 billion yuan depending on the adoption rates [4][15] - The industry is actively engaging in the layout of intelligent and unmanned solutions, addressing labor shortages and aging workforce issues in the sanitation sector [4][18] - Orders for unmanned sanitation equipment are accelerating, showing a trend of scattered volume growth, with significant government contracts [4][40] Summary by Sections 1. Automation and Intelligence in Sanitation - Unmanned sanitation equipment utilizes advanced technologies for automation and intelligence, categorized into small-tonnage, large-tonnage, and humanoid robots [10] - Small-tonnage equipment serves semi-enclosed areas, while large-tonnage equipment is designed for open environments [12] 1.2 Economic Analysis - Small-tonnage unmanned equipment can replace 3-4 workers, with a current price of around 300,000 yuan, becoming economically viable as prices drop to 200,000 yuan [13] - Large-tonnage unmanned vehicles currently lack economic viability but could become competitive if prices decrease to 600,000 yuan [13] 1.3 Market Potential - The market for unmanned sanitation equipment is projected to be substantial, with estimates of 575 billion yuan under conservative assumptions and up to 1,522 billion yuan under optimistic scenarios [15] 2. Active Participation in Unmanned Solutions - Various companies are actively developing and deploying unmanned sanitation solutions, addressing labor challenges and enhancing mechanization rates [18][19] 3. Order Growth Trends - The number of contracts for unmanned sanitation projects is increasing, with projections indicating a 129% year-on-year growth in total contract value for 2025 [40][41]

Core Viewpoint - The legal opinion letter from Anhui Tianhe Law Office confirms that the stock trading activities of the incentive plan participant, Wang Nengyuan, occurred without knowledge of insider information related to the company's 2025 restricted stock incentive plan [1][3]. Group 1: Legal Opinion and Compliance - Anhui Tianhe Law Office was commissioned by the company to provide legal advice regarding the stock trading activities of the incentive plan participants [1]. - The law firm conducted thorough verification and confirmed that the facts stated in the legal opinion are true, accurate, and complete, ensuring no misleading statements or significant omissions [2]. Group 2: Stock Trading Activities - Wang Nengyuan engaged in stock trading activities during the self-examination period from January 14, 2025, to July 14, 2025, with a total of 3,200 shares traded and a remaining balance of 2,800 shares [2][3]. - The highest purchase price was 27.01 yuan per share, while the lowest was 18.18 yuan per share, with a total purchase amount of 124,605 yuan (excluding fees) [3]. - The highest selling price was 28.11 yuan per share, and the lowest was 21.22 yuan per share, indicating a range of trading prices during the period [3].