编号：2015-008 证券代码：300172 证券简称：中电环保 中电环保股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------|-------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系 | ▇ | 特定对象调研 □分析师会议 | | 活动类别 | □ | 媒体采访 □业绩说明会 | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名 | 兆丰证券 叶秋宜 元大宝来投信 许晋诚 | | | 称及人员姓 | 富华证券投资信托 杨佳升 国泰证券投资信托 张匡勋 | | | 名 ...

Group 1: Nuclear Power Market and Company Advantages - The company has competitive advantages in the nuclear power water treatment market, including complete technology, excellent performance, strong project implementation capabilities, and rich project management experience [2] - According to the "13th Five-Year Plan" draft, China will build 6 to 8 new nuclear power plants annually, accelerating the construction process in the next five years [2] - The company has successfully undertaken and implemented several nuclear power water treatment projects domestically and internationally, including projects in Qinshan, Sanmen, and Pakistan [3] Group 2: Solid Waste Industry Development - The company's solid waste business primarily focuses on sludge disposal, which currently has a low market share in China's environmental protection industry [3] - The demand for sludge treatment is expected to rise sharply due to severe water environment issues and insufficient disposal facilities [3] - Government policies are gradually improving, which is anticipated to lead to rapid market growth in sludge disposal [3] Group 3: Environmental PPP Projects - The company has engaged in multiple municipal sewage and sludge disposal PPP projects, aligning with the national push for environmental investment through the PPP model [3] - The company aims to leverage its environmental service platform and comprehensive waste management capabilities to expand its PPP business in urban environmental solutions [3] Group 4: Project Implementation Cycles - The implementation cycle for various projects varies: - Thermal power projects: 1-2 years - Nuclear power projects: 2-3 years - Non-electric industrial water treatment projects: 1-2 years - Municipal water treatment projects: 1-2 years - Flue gas treatment projects: 1-2 years [3] Group 5: External Development and Mergers - The company has plans for external development, focusing on cutting-edge environmental technologies and seeking acquisition targets [4] - Emphasis is placed on the quality of target companies, industry complementarity, and cultural fit, avoiding blind acquisitions [4] - The company aims to extend into niche environmental sectors through a collaborative mechanism of "talent + technology + capital" [4]

Group 1: Industrial Wastewater Treatment - The industrial wastewater treatment market is a key focus for the company, providing comprehensive water treatment services for major industrial enterprises and industrial parks [2] - The company has successfully undertaken significant projects, including the zero discharge system for industrial wastewater and various wastewater treatment projects in different regions [3] Group 2: Environmental Governance and PPP Projects - The company has established a complete environmental governance industry chain, covering water treatment, solid waste disposal, flue gas governance, and waste heat utilization [4] - The company aims to expand its environmental PPP business by focusing on regions with substantial demand and guaranteed government payments [4] Group 3: Sludge Treatment Development - The company recently won a bid for a sludge project in Changshu, marking a significant breakthrough in the sludge market [4] - There is a growing market for sludge disposal, driven by government policies and regulations aimed at promoting the sludge industry [4] Group 4: Tax Impact on Operations - Starting from July 2015, the VAT rate for wastewater and sludge treatment services changed, which may slightly impact the company's profits from these operations [4] Group 5: Mergers and Acquisitions Strategy - The company has plans for external growth through mergers and acquisitions, focusing on complementary technologies and companies with compatible cultures [4]

Group 1: Business Performance - In the first nine months of 2014, the company secured new contracts worth 730 million CNY, including 425 million CNY for industrial water treatment, 241 million CNY for municipal wastewater treatment, and 64 million CNY for flue gas treatment [2][3]. - The company aims to expand its business in response to increasing national pollution control efforts and the promotion of third-party environmental governance models [2][3]. Group 2: Water Treatment Strategy - The company plans to enhance its industrial water treatment by focusing on "zero discharge" and "recycling" in key industrial sectors, while improving project management capabilities in municipal wastewater treatment [3][4]. - The company has undertaken several wastewater treatment projects in industrial parks, which are expected to improve efficiency and regulatory compliance [3][4]. Group 3: Technological Development - The company has established an independent R&D center to focus on new products and technologies, enhancing its competitive edge in environmental solutions [4][5]. - The company is actively involved in various innovation alliances to boost its technological capabilities and promote the industrialization of innovative results [5][6]. Group 4: Financial Performance - The company's gross margin has remained stable, but there are risks of decline due to increased competition and rising project implementation costs [4]. - The company employs different revenue recognition principles based on project duration, with shorter projects recognizing revenue upon delivery and longer projects using percentage-of-completion methods [4].

Group 1: Company Overview and Business Model - Nanjing Zhongdian Environmental Protection Co., Ltd. is engaged in municipal sewage treatment and resource recovery projects, focusing on PPP (Public-Private Partnership) models for environmental pollution management [2]. - The company has undertaken municipal sewage BOT (Build-Operate-Transfer) projects, emphasizing the importance of selecting projects with good regional prospects, controllable risks, and favorable investment returns [2]. Group 2: Future Development Focus - The company aims to enhance its capabilities in municipal and industrial wastewater treatment, including zero wastewater discharge and reclaimed water utilization [4]. - Future development will also target solid waste disposal and flue gas treatment, with a focus on expanding into new industrial markets [4]. Group 3: Market Expansion Plans - In 2015, the company plans to consolidate its position in the industrial water treatment market while aggressively pursuing new directions in wastewater treatment and reclaimed water projects [4]. - The company is set to capitalize on the shift towards PPP models in municipal wastewater treatment, aiming for rapid growth in revenue and sales contracts [4].

编号：2015-001 证券代码：300172 证券简称：中电环保 南京中电环保股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------|----------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系 ...

编号：2015-002 证券代码：300172 证券简称：中电环保 南京中电环保股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系 | ▇ | 特定对象调研 □分析师会议 | | 活动类别 | □ | 媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | 参与单位名 | 新思路投资 魏莹 洪逸伦 冯昕 | | | 称及人员姓 | | | | 名 | | | | 时间 | 2015 年 1 月 29 | 日 | | 地点 | 公司会议室 | | ...

Group 1: Company Overview and Strategy - The company focuses on high-end environmental technology services, aiming for steady growth in its core business to enhance its market value [2][3]. - The company has established a "4+1" industrial structure, which includes industrial water treatment, municipal wastewater treatment, sludge disposal, and air pollution control, along with a third-party environmental service platform [3][4]. Group 2: Market Opportunities - Industrial water treatment is expected to benefit from the restart of nuclear power and the implementation of water action plans, addressing complex wastewater issues [3]. - Municipal wastewater treatment presents significant market opportunities, particularly through the PPP model, with a cautious approach to project selection [3]. - Sludge disposal will leverage the successful demonstration of the Nanjing sludge project for rapid replication across the province and nationwide [3]. - Air pollution control will focus on industrial technological upgrades and ultra-low emissions projects [4]. Group 3: Environmental Industry Insights - The environmental industry has faced underinvestment in previous years, leading to a backlog of environmental issues. The revised environmental law in 2015 has strengthened enforcement, positioning the industry for rapid growth [3]. - The company aims to capitalize on the golden development period of the environmental industry by solidifying its foundation and enhancing its growth potential [3]. Group 4: Mergers and Acquisitions - The company is actively seeking acquisition targets to drive both industrial and capital growth, emphasizing the importance of quality, complementary industries, and cultural compatibility in potential mergers [4]. Group 5: Future Development Vision - The chairman has committed to the environmental sector for 30 years, with plans to continue focusing on water treatment, expanding municipal wastewater and sludge disposal projects, and enhancing air pollution control efforts [4].

Group 1: Company Development Strategy - The company has established a "4+1" industrial structure focusing on large industrial water treatment, municipal sewage treatment, sludge disposal, and air pollution control, while also creating a third-party environmental governance service platform [2][3]. - The company aims to leverage national environmental governance opportunities, positioning itself as a high-end technology service provider, primarily focusing on industrial and municipal water treatment, while expanding into air pollution control and solid waste disposal [3][4]. Group 2: Project Implementation and Duration - The typical implementation cycle for projects varies: thermal power projects take 1-2 years, nuclear power projects 2-3 years, non-electric industrial water treatment projects 1-2 years, municipal water treatment projects 1-2 years, and flue gas treatment projects 1-2 years [3]. - The company is actively pursuing the market for sludge disposal, particularly through the BOO project in Nanjing, which is expected to capitalize on the growing demand for sludge incineration and resource utilization [3][4]. Group 3: Innovative Service Platforms - The company has established the "National Environmental Service Industry Nanjing Cluster," which has been approved by the Ministry of Environmental Protection, focusing on high-end environmental services [4]. - The company has created a platform for technological cooperation and talent innovation, which includes a center for environmental industry innovation, enhancing its capabilities and influence in the environmental governance sector [4]. Group 4: Market Trends and Future Outlook - Following the implementation of the new environmental law, the water treatment and pollution control sectors are expected to see rapid investment growth, with increased demand for industrial renovation projects and water reuse [3][4]. - The company is committed to enhancing its capabilities in treating difficult wastewater, particularly in high-salinity contexts, and is focusing on zero discharge and water reuse initiatives in key industrial sectors [3][4]. Group 5: Mergers and Acquisitions Strategy - The company plans to utilize capital to seize opportunities in the environmental "three wastes" governance sector, focusing on acquiring companies with advanced environmental technologies and products [4]. - The company aims to create a platform for gathering high-end talent and fostering innovation, thereby enhancing its market position and expanding its scale [4]. Group 6: Company Valuation Perspective - The company is focused on enhancing its market value by solidifying its foundation, improving core business operations, and ensuring sustained performance growth [4].

Financial Performance - In 2014, the company achieved a revenue of 607.12 million yuan, representing a year-on-year growth of 12.33% [2] - The net profit attributable to shareholders was 83.48 million yuan, reflecting a 20.86% increase compared to the previous year [2] Project Implementation - The typical implementation cycle for thermal power projects is 1-2 years, while nuclear power projects take 2-3 years [3] - Municipal water treatment projects also have an implementation cycle of 1-2 years [3] Wastewater Treatment and Future Development - The company is currently implementing the Nanjing sludge project, which combines sludge drying with power plant co-incineration [3] - The sludge disposal market is expected to grow as policies for harmless and resourceful sludge treatment are further promoted [3] Nuclear Power Water Treatment Market - By 2020, the planned nuclear power installed capacity is expected to reach 58 million kilowatts, with over 30 million kilowatts under construction [3] - The company has maintained a market share in nuclear water treatment through successful project implementations [3] Future Business Development - The company aims to expand its water treatment business while also focusing on flue gas treatment and solid waste disposal [4] - In wastewater treatment, the focus will be on zero wastewater discharge and recycling in key industrial sectors [4] - The company plans to leverage its existing customer resources to replicate successful models in solid waste disposal [4] Sustainable Development Initiatives - The company is building innovation alliances and environmental service clusters to enhance its core competitiveness [4] - It has gathered high-end resources to create an environmental service innovation platform, promoting technological innovation and industry development [4]