| 证券代码：300779 | 证券简称：惠城环保 | 公告编号：2026-003 | | --- | --- | --- | | 债券代码：123118 | 债券简称：惠城转债 | | 青岛惠城环保科技集团股份有限公司 关于控股股东的一致行动人部分股份质押的公告 近日，青岛惠城环保科技集团股份有限公司（以下简称"公司"）接到控股 股东的一致行动人青岛惠城信德投资有限公司（以下简称"惠城信德"）的通知， 获悉惠城信德持有本公司部分股份质押，具体内容如下： 一、股东股份质押的基本情况 | 股东 名称 | 是否为控 股股东或 第一大股 东及其一 致行动人 | 本次质押 股数（股） | 占其所 持股份 比例 | 占公司 总股本 比例 | 是否 为限 售股 | 是否 为补 充质 押 | 质押起始 日 | 质押到期 日 | | 质权人 | 质押用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 惠城 信德 | 是 | 3,100,000 | 20.45% | 1.54% | 否 | 否 | 2026 年 1 月 ...

Core Viewpoint - Huicheng Environmental Protection (300779) successfully passed the performance assessment of its 200,000 tons/year mixed waste plastic resource utilization project, which is expected to enhance operational stability and capacity utilization by the end of 2026 [1] Group 1: Project Performance - The project was assessed on December 29, 2025, after a 72-hour operational data validation [1] - The facility is currently operating stably, indicating successful initial performance [1] Group 2: Future Plans - The company is actively working to increase the load rate of the facility [1] - A test for adjusting the raw material feeding method is planned to commence by the end of January 2026, aiming to gradually achieve the designed capacity [1] - There are currently no plans for modifications to the facility [1]

Group 1 - The core viewpoint of the article is that Huicheng Environmental (300779) has confirmed that product pricing has been agreed upon with clients, but details regarding pricing and supply volumes remain confidential due to commercial secrecy [1] Group 2 - The company has engaged in discussions with clients to finalize product pricing [1] - Contracts and orders contain sensitive information that the company will not disclose at this time [1]

Core Viewpoint - The stock of Huicheng Environmental Protection has experienced a decline in price and significant changes in shareholder structure, indicating potential challenges in financial performance and market perception [1][2]. Group 1: Stock Performance - As of January 9, Huicheng Environmental Protection's stock price increased by 2.09% to 126.45 CNY per share, with a trading volume of 410 million CNY and a turnover rate of 2.03%, resulting in a total market capitalization of 25.404 billion CNY [1]. - Year-to-date, the stock has decreased by 2.81%, with a 5-day decline of 2.81%, a 20-day decline of 5.53%, and a 60-day decline of 30.37% [1]. Group 2: Financial Performance - For the period from January to September 2025, Huicheng Environmental Protection reported a revenue of 875 million CNY, reflecting a year-on-year growth of 1.47%. However, the net profit attributable to shareholders decreased by 36.59% to 27.5452 million CNY [2]. Group 3: Shareholder Structure - As of September 30, 2025, the number of shareholders for Huicheng Environmental Protection increased to 23,000, a rise of 105.96%. The average number of circulating shares per person decreased by 51.18% to 6,847 shares [2]. - The company has distributed a total of 85.2689 million CNY in dividends since its A-share listing, with 40.2686 million CNY distributed over the past three years [3]. - Notably, Hong Kong Central Clearing Limited and Southern CSI 1000 ETF are new entrants among the top ten circulating shareholders, holding 1.4045 million shares and 1.2554 million shares, respectively [3].

Group 1: Company Overview and Development - Qingdao Huicheng Environmental Technology Group Co., Ltd. was established in 2006, focusing on original technology innovation and the resource utilization of industrial solid waste [2] - The company successfully went public in 2019, accelerating its development through capital [2] - The high-sulfur petroleum coke hydrogen production ash utilization project has been validated for significant economic and environmental benefits, enhancing the company's market value [2] Group 2: Main Business Segments - The company operates three main business segments: 1. Catalyst-related business, providing waste catalyst treatment and resource utilization products [2] 2. High-sulfur petroleum coke hydrogen production ash utilization, which is the primary and stable source of revenue [3] 3. A 200,000 tons/year mixed waste plastic resource utilization project, aimed at addressing plastic pollution and achieving carbon neutrality [3] Group 3: Project Performance and Capacity - The 200,000 tons/year mixed waste plastic resource utilization project achieved successful trial production in July 2025, with a total hydrocarbon yield exceeding 92% and a product yield of 70% from raw waste plastics [5] - The catalyst treatment capacity is 58,500 tons/year, while the catalyst production capacity is 40,000 tons/year, with a focus on expanding into overseas markets [4] Group 4: Future Plans and Market Strategy - The company plans to enhance its waste plastic project by ensuring stable raw material supply through local government partnerships and expanding its recycling network [7] - Future expansion will be based on project approvals and raw material recovery, with a focus on both domestic and international markets [8] - The company aims to align its operations with national solid waste management policies, targeting a comprehensive utilization of 4.5 billion tons of solid waste by 2030 [9] Group 5: Technological Advantages - The company’s proprietary "one-step" process offers advantages such as stable feed delivery, overcoming traditional plastic recycling challenges, and innovative reactor design [10] - The technology has been recognized for its maturity and reliability, providing a solid foundation for industrial promotion [5]

证券代码：300779 证券简称：惠城环保 公告编号：2026-002 债券代码：123118 债券简称：惠城转债 1、统一社会信用代码：91370200783724899J 2、名称：青岛惠城环保科技集团股份有限公司 青岛惠城环保科技集团股份有限公司 关于完成注册资本、法定代表人变更登记 并换发营业执照的公告 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。 青岛惠城环保科技集团股份有限公司（以下简称"公司"）于 2025 年 12 月 8 日召开第三届董事会第四十九次会议及 2025 年 12 月 24 日召开 2025 年第三 次临时股东大会，审议通过了《关于变更注册资本并修订<公司章程>的议案》， 同意将公司总股本由 196,045,823 股变更为 200,115,228 股，公司注册资本由人民 币 196,045,823 元变更为人民币 200,115,228 元，并同步对《公司章程》相关条款 进行修订。具体内容详见公司披露在巨潮资讯网上的《关于变更注册资本、修订 <公司章程>及制定、修订部分治理制度的公告》（公告编号：2025-101）。 公司于 ...

Group 1 - Huicheng Environmental Protection announced an investor research meeting scheduled for January 6, 2026, from 10:30 to 12:00, where the company's Chief Technology Officer Zhang Xinkong, Chairman Shi Huifang, and Board Secretary Ru Fan will participate and answer investor questions [1] - The meeting is organized in collaboration with Huaan Securities, indicating the company's proactive approach to engage with investors and provide insights into its operations and future prospects [1] Group 2 - The Shanghai Composite Index has recently stabilized at a key position for the first time in ten years, suggesting a significant market development [1] - Goldman Sachs has recommended an overweight position in Chinese stocks, reflecting a positive outlook on the Chinese equity market [1] - Analysts from brokerage firms noted that factors such as the appreciation of the Renminbi are accelerating the return of cross-border capital, which may influence investment trends in the region [1]

Group 1: Company Overview - Qingdao Huicheng Environmental Technology Group Co., Ltd. was established in 2006, focusing on original technology innovation to address industrial solid waste and environmental governance challenges [2]. - The company operates three main business segments: catalyst-related services, high-sulfur petroleum coke hydrogen ash utilization, and mixed waste plastic resource utilization [2]. Group 2: Catalyst Business - The catalyst-related business provides waste catalyst treatment services and produces FCC catalysts and regenerated catalysts, establishing a comprehensive service model [2]. - The company has a stable market share domestically and is actively expanding into overseas markets [2]. Group 3: High-Sulfur Petroleum Coke Utilization - The high-sulfur petroleum coke hydrogen ash utilization project is the primary and stable source of revenue, utilizing proprietary technology to provide ash treatment services and produce steam, crude vanadium, and crude nickel hydroxide [2]. Group 4: Waste Plastic Resource Utilization - The company’s 200,000 tons/year mixed waste plastic resource utilization project is a core future development direction, converting waste plastics into high-value chemical products [2][4]. - The project successfully commenced trial production in July 2025 and passed performance assessments, achieving over 92% yield of oil and gas products relative to effective carbon in waste plastics [3]. Group 5: Future Expansion Plans - The company plans to enhance the load rate of the waste plastic project and is exploring expansion opportunities in various regions, including Jieyang, Yueyang, Heze, and Tianjin [4]. - Future expansion will depend on project approvals and raw material recovery conditions, with interest from foreign enterprises for collaboration [4]. Group 6: Financial and Operational Considerations - The company’s catalyst treatment capacity is 58,500 tons/year, with catalyst production capacity at 40,000 tons/year, focusing on overseas market growth [10]. - Funding for expansion projects will be sourced from self-funding and various financing channels, including market financing and loans [12].

| 证券代码：300779 | 证券简称：惠城环保 | 公告编号：2026-001 | | --- | --- | --- | | 债券代码：123118 | 债券简称：惠城转债 | | 青岛惠城环保科技集团股份有限公司 关于 2025 年第四季度可转债转股情况的公告 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。 特别提示： 1、"惠城转债"（债券代码：123118）转股期为 2022 年 1 月 13 日至 2027 年 7 月 6 日；初始转股价格为 17.11 元/股，最新转股价格为 11.11 元/股。 2、2025 年第四季度，共有 418,861 张"惠城转债"完成转股（票面金额共 计 41,886,100.00 元人民币），合计转换成 3,770,035 股"惠城环保"股票（股票 代码：300779）。 3、截至 2025 年第四季度末，公司剩余可转债为 819,215 张，剩余可转债票 面总金额为 81,921,500.00 元人民币。 根据《深圳证券交易所创业板股票上市规则》和《深圳证券交易所可转换公 司债券交易实施细则》的有关规定，青岛惠 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the environmental sector, specifically recommending Huicheng Environmental, Gaoneng Environment, and Hongcheng Environment [5]. Core Insights - The report highlights the significant policy support for the solid waste recycling industry, particularly through the "Recycling Materials Application Promotion Action Plan," which aims to enhance the supply capacity of recycled materials and establish a comprehensive recycling system by 2030 [1][18]. - The report emphasizes the establishment of three major regional action plans for environmental governance, focusing on the Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macau regions, with specific targets for waste reduction and recycling by 2027 [20][26]. - The current macroeconomic environment, characterized by historically low interest rates, is favorable for investing in high-dividend and growth-oriented assets within the environmental sector [2][27]. Summary by Sections Section 1: Investment Views - The "Recycling Materials Application Promotion Action Plan" was officially released, aiming to enhance the supply of recycled materials and expand their application in key industries such as automotive and electronics [1][8]. - The Ministry of Ecology and Environment has issued three regional action plans for environmental governance, setting clear targets for waste reduction and recycling by 2027 [20][26]. - The environmental sector is currently experiencing low valuations and high growth potential, making it an attractive investment opportunity [27]. Section 2: Market Performance - The environmental sector outperformed the broader market, with a weekly increase of 0.24%, compared to a 0.13% rise in the Shanghai Composite Index [29]. - Key sub-sectors within the environmental industry showed varied performance, with energy-saving and monitoring sectors performing well, while water treatment faced slight declines [29]. Section 3: Key Announcements - The report outlines significant government initiatives aimed at promoting equipment upgrades and recycling, which are expected to drive growth in the environmental sector [40]. - The Ministry of Ecology and Environment has initiated a registration process for environmental monitoring service providers to enhance industry standards and quality [41].