Group 1 - The "Ma" concept stocks have experienced significant movements, with Shennma Co., Ltd. hitting the daily limit up [1] - Yema Battery has seen an increase of over 8% [1] - Other companies such as Fulongma, Wanlima, Feima International, and Weima Agricultural Machinery have also reported gains [1]

Group 1 - The core point of the news is that Feima International's stock price increased by 5.39% to 4.69 CNY per share, with a trading volume of 1.893 billion CNY and a turnover rate of 15.65%, resulting in a total market capitalization of 12.481 billion CNY [1] - Feima International, established on July 9, 1998, and listed on January 30, 2008, is primarily engaged in supply chain management services and environmental new energy business, with revenue composition as follows: 81.71% from the environmental new energy sector, 11.34% from comprehensive logistics services, 6.47% from PPP project construction services, and 0.47% from trade execution services [1] Group 2 - From the perspective of major fund holdings, one fund under Huatai PineBridge has a significant position in Feima International, specifically the Huatai PineBridge CSI Environmental Governance Index (LOF) A (501030), which reduced its holdings by 669,100 shares in the third quarter, now holding 1.7238 million shares, accounting for 2.66% of the fund's net value, ranking as the fourth-largest holding [2] - The Huatai PineBridge CSI Environmental Governance Index (LOF) A (501030) was established on December 29, 2016, with a current size of 182 million CNY, yielding 22.72% year-to-date, ranking 2533 out of 4216 in its category, and an 18.66% return over the past year, ranking 2758 out of 3896, while experiencing a cumulative loss of 40.54% since inception [2]

Core Insights - On November 3, Feima International executed a block trade of 600,000 shares, with a transaction value of 2.67 million yuan, accounting for 0.09% of the total trading volume for the day, with the transaction price remaining stable at 4.45 yuan, equal to the market closing price [1][2]. Group 1 - The block trade involved 600,000 shares of Feima International [1][2] - The total transaction amount was 2.67 million yuan [1][2] - The transaction price was 4.45 yuan, unchanged from the market closing price [1][2]

Core Insights - The environmental governance sector saw an increase of 0.81% on November 3, with Zhejiang Fu Holdings 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 Governance Sector Performance - Top gainers included: - Zhejiang Fu Holdings (002266) with a closing price of 4.52, up 9.98% and a trading volume of 1.93 million shares, totaling 873 million yuan [1] - Zhonghuan Environmental (300692) at 9.58, up 7.28% with a trading volume of 450,900 shares, totaling 434 million yuan [1] - Haitan Co., Ltd. (603759) at 11.74, up 6.73% with a trading volume of 370,700 shares, totaling 413 million yuan [1] - Other notable gainers included: - Feima International (002210) at 4.45, up 5.95% with a trading volume of 6.29 million shares, totaling 2.83 billion yuan [1] - ST New Power (300152) at 2.50, up 5.49% with a trading volume of 374,000 shares, totaling 9.19 million yuan [1] Fund Flow Analysis - The environmental governance sector experienced a net outflow of 772 million yuan from institutional investors, while retail investors saw a net inflow of 677 million yuan [2] - The top stocks by fund flow included: - Zhejiang Fu Holdings (002266) with a net inflow of 22.3 million yuan from institutional investors, but a net outflow of 114 million yuan from speculative funds [3] - Feima International (002210) with a net inflow of 10.7 million yuan from institutional investors, but a net outflow of 97.8 million yuan from speculative funds [3] - Yuan Da Environmental (600292) with a net inflow of 38.3 million yuan from institutional investors, but a net outflow of 14.9 million yuan from speculative funds [3]

Core Viewpoint - The company has decided to continue the construction of the Yuanping biomass cogeneration project after thorough analysis and reassessment of market conditions and project feasibility [1][2]. Group 1: Project Status - The company initially planned to suspend the Yuanping biomass cogeneration project due to economic considerations but has now reversed this decision [1]. - The project will now utilize a circulating fluidized bed boiler process instead of the previously planned high-temperature and high-pressure biomass water-cooled vibrating furnace boiler process [2]. - The construction period for the project is estimated to be 15 months, with relevant design units already engaged for the new process [2]. Group 2: Market Analysis - The company has conducted a comprehensive review of steam customers and the surrounding biomass fuel market, focusing on customer stability and fuel supply security [2]. - The management has analyzed various factors including project scale, technology, and economic viability before deciding to proceed with the project [2]. Group 3: Regulatory Compliance - The project adjustments have received support and approval from relevant government departments, and the necessary procedures for project implementation are currently being processed [2].

Core Viewpoint - Feima International, established in 1998 and listed in 2008, specializes in supply chain management services and environmental new energy business, holding a competitive advantage in comprehensive service within the industry [1] Group 1: Business Performance - For Q3 2025, Feima International reported revenue of 162 million yuan, ranking 34th among 35 companies in the industry, with the industry leader, Zhejiang Fuhua Holdings, generating 16.155 billion yuan [2] - The company's net profit for the same period was 14.006 million yuan, placing it 24th in the industry, while the top performer, Weiming Environmental, achieved a net profit of 2.238 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Feima International's debt-to-asset ratio was 32.23%, significantly lower than the industry average of 50.06%, indicating strong solvency [3] - The company's gross profit margin improved to 32.05% from 24.17% year-on-year, surpassing the industry average of 25.02% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 47.02% to 124,700, while the average number of circulating A-shares held per shareholder decreased by 31.98% to 21,300 [5] - Hong Kong Central Clearing Limited emerged as the third-largest circulating shareholder, holding 29.1566 million shares as a new shareholder [5] Group 4: Executive Compensation - The chairman, Zhao Libin, received a salary of 720,000 yuan in 2024, an increase of 60,000 yuan from 2023 [4]

Core Viewpoint - The company has decided to temporarily suspend the construction of the Yuanping biomass cogeneration project due to considerations of project investment economics, but will continue to advance the project with a change in construction technology [2] Group 1: Project Status - The Yuanping biomass cogeneration project is located in the Yuanping Economic and Technological Development Zone and is managed by the company's subsidiary, Yuanping Fuqiao New Energy Co., Ltd. [2] - The company has completed a reassessment of steam customers and the surrounding biomass fuel market, focusing on customer stability and fuel market security [2] Group 2: Project Adjustments - The construction technology for the project will be changed from a high-temperature, high-pressure biomass water-cooled vibrating grate boiler to a circulating fluidized bed boiler [2] - The project construction period is set to be 15 months, and the adjustment of construction technology has been validated by relevant design units and has received support and approval from government departments [2]

证券代码：002210 证券简称：飞马国际 公告编号：2025-056 后续，公司将根据项目建设进展及时进行信息披露。公司选定的信息披露媒 体为《证券时报》、《上海证券报》和巨潮资讯网 （www.cninfo.com.cn），公司所 有信息均以公司在上述媒体刊登的公告为准，敬请广大投资者关注、理性投资， 注意风险。 特此公告 深圳市飞马国际供应链股份有限公司董事会 深圳市飞马国际供应链股份有限公司 关于环保新能源项目实施进展的提示性公告 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。 深圳市飞马国际供应链股份有限公司（以下简称"本公司"或"公司"）于 2025 年 5 月 13 日在选定的信息披露媒体《证券时报》、《上海证券报》和巨潮资讯网 （www.cninfo.com.cn）上披露了《关于环保新能源项目实施进展的提示性公告》 （公告编号：2025-021），基于项目投资经济性等因素综合考量，公司拟暂缓原 平生物质热电联产项目建设，该项目的建设地点位于原平经济技术开发区内，项 目的实施主体为公司子公司原平富乔新能源有限公司。 近期，公司完成了对园区用汽客户、 ...

Group 1 - The core point of the news is that Feima International's stock price increased by 5.99% to 4.25 CNY per share, with a trading volume of 1.009 billion CNY and a turnover rate of 9.21%, resulting in a total market capitalization of 11.31 billion CNY [1] - Feima International, established on July 9, 1998, and listed on January 30, 2008, is primarily engaged in supply chain management services and environmental new energy business, with revenue composition as follows: 81.71% from the environmental new energy sector, 11.34% from comprehensive logistics services, 6.47% from PPP project construction services, and 0.47% from trade execution services [1] Group 2 - From the perspective of major fund holdings, one fund under Huatai PineBridge has a significant position in Feima International, specifically the Huatai PineBridge CSI Environmental Governance Index (LOF) A (501030), which reduced its holdings by 669,100 shares in the third quarter, now holding 1.7238 million shares, accounting for 2.66% of the fund's net value, ranking as the fourth-largest holding [2] - The Huatai PineBridge CSI Environmental Governance Index (LOF) A (501030) was established on December 29, 2016, with a current scale of 182 million CNY, yielding a return of 21.71% year-to-date, ranking 2719 out of 4216 in its category, and a one-year return of 20.18%, ranking 2611 out of 3889 [2]

Core Viewpoint - Shenzhen Feima International Supply Chain Co., Ltd. is initiating commodity derivatives hedging business to mitigate risks associated with commodity price fluctuations and enhance financial stability, ensuring sustainable business operations [1][7]. Group 1: Hedging Business Overview - The purpose of the hedging business is closely related to the company's supply chain operations, aiming to utilize the hedging functions of the futures market [1][7]. - The main commodity types for the hedging business include energy and chemical products, with derivatives such as futures, swaps, options, and combinations of these products [2][7]. - The hedging business will primarily be conducted on domestic futures exchanges [3][7]. Group 2: Business Scale and Limits - The authorized margin and premiums for the hedging business will not exceed 10% of the audited net assets attributable to shareholders as of the end of 2024, which amounts to approximately 37.43 million yuan [4][7]. - The maximum contract value at any point will not exceed 50% of the audited revenue for 2024, equating to about 119.57 million yuan [4][7]. Group 3: Business Duration and Funding - The duration for the hedging business will be 12 months from the date of approval by the shareholders' meeting [5][7]. - The funding for the hedging business will come from the company's own funds, with a certain percentage of margin paid according to agreements with financial institutions [6][7].