Core Viewpoint - The electrolytic manganese waste residue treatment industry is experiencing growth driven by increasing demand for electrolytic manganese, supportive government policies, and technological advancements. The market size is projected to reach 4.339 billion yuan in 2024, reflecting a year-on-year increase of 2.6% [1][6]. Industry Overview - Electrolytic manganese waste residue is a byproduct of electrolytic manganese production, containing harmful substances that pose environmental and health risks if not treated properly. Treatment methods include safe storage, harmless treatment, and resource utilization, which can be further categorized into four technical approaches: safe storage technology, dry processing technology, pyrometallurgical technology, and hydrometallurgical technology [3][4]. Market Size and Growth - The electrolytic manganese waste residue treatment market in China is expected to reach 4.339 billion yuan in 2024, with a year-on-year growth of 2.6% [1][6]. The production of electrolytic manganese waste residue is projected to reach 12.195 million tons in 2024, marking a 19.4% increase compared to the previous year [5][6]. Industry Development Trends 1. **Technological Advancements**: Continuous improvement in treatment technologies is essential due to tightening environmental regulations and increasing quality demands from downstream industries [9]. 2. **Accelerated Industry Consolidation**: Increased competition is leading to consolidation within the industry, with stronger companies likely to acquire weaker ones, enhancing market concentration [10][11]. 3. **Resource Utilization**: The waste residue contains valuable mineral elements, and its resource utilization can yield significant economic and environmental benefits. Potential applications include production of autoclaved bricks, fertilizers, road materials, and cement [12]. Competitive Landscape - The industry is becoming increasingly competitive, with numerous companies entering the market. Key players include Beijing Wanbangda Environmental Technology Co., Ltd., China Electric Environmental Protection Co., Ltd., and Tianjin Chuangye Environmental Protection Group Co., Ltd. [6][8].

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 Xianhe (300137) reported a slight increase in revenue for Q3 2025, but faced a significant decline in net profit compared to the previous year [1] Financial Performance - The company achieved an operating income of 211 million yuan in Q3 2025, representing a year-on-year growth of 2.08% [1] - The net profit for the same period was -18.93 million yuan, indicating a year-on-year decrease of 42.50% [1]

Core Viewpoint - Hebei Xianhe Environmental Protection Technology Co., Ltd. (stock code: 300137, stock abbreviation: ST Xianhe) has made significant adjustments to its corporate governance structure by abolishing the supervisory board and transferring its powers to the board's audit committee, marking a shift towards a "board-centric" governance model [1][2]. Summary by Relevant Sections Corporate Charter Key Revisions - The revision of the corporate charter includes the removal of the supervisory board and the transfer of its powers to the audit committee, which will now oversee financial reporting and the performance of directors and executives [2]. - The audit committee will consist of three non-executive directors, including two independent directors, with a professional accountant serving as the convener [2]. - New rights for shareholders include access to accounting books and documents, subject to signing a confidentiality agreement [2]. - The responsibilities of the board have been expanded to include the oversight functions previously held by the supervisory board [2]. Governance System Updates - A total of 29 core governance systems have been revised or established to create a "1+N" governance system, including updates to the rules for shareholder meetings and the introduction of new management systems [3]. - Key areas of revision cover decision-making processes, information disclosure, risk control, and related party transactions [3]. - Six of the revised systems will require approval from the shareholders' meeting, while the others will take effect upon approval by the board [3]. Implications of Governance Structure Adjustment - The governance structure adjustment is a response to the new Company Law requirements, aiming to enhance the efficiency of decision-making and strengthen the functions of the board and its committees [3]. - Market analysis suggests that this transformation may improve decision-making efficiency but will also demand higher independence and professionalism from the audit committee [3].

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。 河北先河环保科技股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开第五届董事会第八次会议和第五届监事会第六次会议，审议通过了《关于 聘任 2025 年度审计机构的议案》，同意公司续聘利安达会计师事务所（特殊普通 合伙）（以下简称"利安达会计师事务所"）为公司 2025 年度财务审计和内部控 制审计机构。现将相关情况公告如下： 一、拟续聘会计师事务所事项的情况说明 证券代码：300137 证券简称：ST先河 公告编号：2025-044 河北先河环保科技股份有限公司 关于拟续聘会计师事务所的公告 二、拟续聘会计师事务所的基本情况 （一）机构信息 1、基本信息 名称：利安达会计师事务所（特殊普通合伙） 类型：特殊普通合伙企业 统一社会信用代码：911101050805090096 利安达会计师事务所具备证券、期货相关业务执业资格，具备多年为上市公 司提供审计服务的经验与能力。在担任公司 2024 年度审计机构期间，利安达会 计师事务所恪尽职守，遵循独立、客观、公正的职业准则，认真地完成了公司各 项 ...

河北先河环保科技股份有限公司 证券代码：300137 证券简称：ST先河 公告编号：2025-043 关于修订《公司章程》、修订及制定公司部分治理制度的公告 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。 河北先河环保科技股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开第五届董事会第八次会议，审议通过了《关于修订<公司章程>的议案》《关 于修订及制定公司部分治理制度的议案》。现将相关情况公告如下： 一、《公司章程》修订情况 根据《公司法》《上市公司章程指引》《上市公司股东会规则》《深圳证券交 易所创业板股票上市规则》等相关法律法规、规范性文件的规定，公司将不再设 置监事会和监事，董事会审计委员会行使《公司法》规定的监事会的职权，《监 事会议事规则》相应废止，公司各项制度中涉及监事会、监事的规定不再适用。 公司结合实际情况，对《公司章程》的部分条款进行修订，具体修订内容如下： | 原条款 | 拟修订后条款 | | --- | --- | | 第一条 为维护河北先河环保科技股份有限公司（以 | 第一条 为维护河北先河环保科技股份有限公司 | ...

证券代码：300137 证券简称：ST先河 公告编号：2025-042 河北先河环保科技股份有限公司 河北先河环保科技股份有限公司(以下简称"公司")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 2 号—创业板上市公司规范运作》及《深圳证 券交易所上市公司自律监管指南第 1 号—业务办理》等相关规定，将公司 2025 年前 三季度计提资产减值准备具体情况公告如下： 一、计提资产减值准备情况概述 为更加客观、公允地反映公司的财务状况、资产价值及经营情况，根据《企业会 计准则》及公司会计制度的相关规定，本着谨慎性原则，公司对合并报表范围内截至 2025 年 9 月 30 日各类应收票据、应收账款、其他应收款、存货、合同资产、长期股 权投资、无形资产、商誉等相关资产进行全面清查和资产减值测试后，本次计提资产 减值准备（含信用减值准备，下同）31,376,348.87 元，具体情况如下： | 项目 | 本期计提金额 （元） | | --- | --- | | 1、资产减值准备 | -1,602,806.39 | | 其中：合同资产 | -1,602,806.39 | | 2、信用减值准备 | 32, ...

证券代码：300137 证券简称：ST 先河 公告编号：2025-045 河北先河环保科技股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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。 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会 2、股东大会的召集人：董事会 3、本次股东大会会议召集和召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 4、会议时间： （1）现场会议时间：2025 年 11 月 18 日 14:45 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 18 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联 网投票系统投票的具体时间为 2025 年 11 月 18 日 9:15 至 15:00 的任意时间。 8、会议地点：石家庄市湘江道 251 号公司会议室 二、会议审议事项 1、本次股东大会提案编码表 | 提案 | 提案名称 | 提案类型 | 备注 | | --- | --- | --- | --- ...

经与会监事认真审议，并经投票表决，提交会议审议的全部议案均获得通过， 会议决议如下： 一、通过《公司 2025 年第三季度报告》 经审核，监事会认为：公司董事会编制和审核的《公司 2025 年第三季度报告》 符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公 司 2025 年前三季度经营的实际情况，不存在任何虚假记载、误导性陈述或者重大遗 漏。 表决情况：3 票赞成，0 票反对，0 票弃权。 证券代码：300137 证券简称：ST先河 公告编号：2025-040 河北先河环保科技股份有限公司 第五届监事会第六次会议决议公告 本公司及监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。 2025 年 10 月 29 日，河北先河环保科技股份有限公司（以下简称"公司"）第 五届监事会第六次会议以现场表决和通讯表决相结合的形式召开。会议通知于 2025 年 10 月 24 日以邮件和电话的方式发出，会议应出席监事 3 人，实际出席会议监事 3 人。会议由监事会主席陈运辉先生主持。会议召集和召开程序，符合《公司法》和 《公司章程》规定。 二、通过《关于聘任 2 ...

河北先河环保科技股份有限公司 第五届董事会第八次会议决议公告 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。 2025 年 10 月 29 日，河北先河环保科技股份有限公司（以下简称"公司"）第 五届董事会第八次会议以现场表决和通讯表决相结合的形式召开。会议通知于 2025 年 10 月 24 日以邮件和电话的方式发出。会议应出席董事 9 名，实际出席会议董事 9 名。公司董事长姚国瑞先生主持会议，监事、高级管理人员列席会议。会议的召集 和召开程序符合《公司法》和《公司章程》的规定。 经会议逐项审议及投票表决，全部议案均获得通过。会议决议如下： 一、通过《公司 2025 年第三季度报告》 同意公司 2025 年第三季度报告。报告详见同日披露于中国证监会创业板信息披 露指定媒体巨潮资讯网上的相关内容。 公司 2025 年第三季度报告中的财务信息已经董事会审计委员会审议通过。 表决情况：9 票赞成，0 票反对，0 票弃权。 证券代码：300137 证券简称：ST先河 公告编号：2025-039 二、通过《关于修订<公司章程>的议案》 根据《公司法》《上市公司章程指 ...