Core Points - The stock price of Shengyuan Environmental Protection has increased by 61.17% this year, with a recent decline of 0.86% over the last five trading days [2] - The company reported a revenue of 7.45 billion yuan for the first half of 2025, a year-on-year decrease of 5.60%, while the net profit attributable to shareholders increased by 12.07% to 1.15 billion yuan [2] Financial Performance - As of October 20, the number of shareholders for Shengyuan Environmental Protection is 25,200, a decrease of 1.52% from the previous period [2] - The average number of circulating shares per shareholder is 7,610, which has increased by 1.54% from the previous period [2] - The company has distributed a total of 1.32 billion yuan in dividends since its A-share listing, with 52.17 million yuan distributed over the last three years [2] Business Overview - Shengyuan Environmental Protection, established on October 9, 1997, is located in Quanzhou, Fujian Province, and specializes in urban solid and liquid waste treatment [2] - The company's main revenue sources include waste incineration (82.25%), sewage treatment (9.61%), other services (6.33%), and PPP project construction (1.81%) [2] - The company operates within the environmental protection industry, focusing on solid waste management and is involved in sectors such as medical waste treatment, hydrogen energy, wind energy, solid waste processing, and carbon neutrality [2]

Group 1 - The core viewpoint of the news is that Shengyuan Environmental Protection's stock has experienced fluctuations, with a current price of 20.25 yuan per share and a market capitalization of 5.503 billion yuan, despite a year-to-date increase of 57.44% [1] - As of October 10, the number of shareholders for Shengyuan Environmental Protection is 25,600, showing a decrease of 1.59% from the previous period, while the average circulating shares per person increased by 1.61% to 7,494 shares [2] - The company's main business revenue composition includes 82.25% from waste incineration, 9.61% from sewage treatment, and 1.81% from PPP project construction [1] Group 2 - For the first half of 2025, Shengyuan Environmental Protection reported an operating income of 745 million yuan, a year-on-year decrease of 5.60%, while the net profit attributable to shareholders increased by 12.07% to 115 million yuan [2] - The company has distributed a total of 132 million yuan in dividends since its A-share listing, with 52.17 million yuan distributed over the past three years [3] - The stock has seen a recent net outflow of 4.38 million yuan in principal funds, with significant buying and selling activity from large orders [1]

Core Viewpoint - Shengyuan Environmental Protection announced that neither the company nor its wholly-owned or controlling subsidiaries have provided guarantees to external units or individuals in the consolidated financial statements [2] Group 1 - The company confirmed that there are no overdue external guarantees [2] - There are no guarantees related to ongoing litigation [2]

Core Viewpoint - Shengyuan Environmental Protection (300867) is actively expanding its steam supply and heating business starting from 2023, leveraging its existing power plants to enhance economic benefits compared to traditional steam power generation [1] Group 1: Business Expansion - The company has reported that the average selling price for steam supply is generally above 200 yuan per ton, indicating a more favorable economic return compared to steam power generation [1] - New steam supply projects have been developed in Liangshan, with ongoing projects in Putian, Zhangzhou, Caoxian, and Anhui [1] - Detailed information regarding the steam supply and heating projects can be found in the company's periodic reports [1]

证券代码：300867 证券简称：圣元环保 公告编号：2025-045 一、担保预计情况 圣元环保股份有限公司（以下简称"公司"）第十届董事会 2025 年第三次会议、第十届监事会 2025 年第二次会议和 2024 年度股东大 会分别审议并通过了《关于公司及子公司 2025 年度拟向银行等金融 机构申请综合授信额度暨预计担保额度的议案》，同意公司及其关联 方对合并报表范围内的公司向银行等金融机构及类金融企业申请综 合授信额度事项提供总额不超过人民币 23.645 亿元的担保，包括公 1 司对子公司、子公司对子公司及子公司对本公司担保，期限为自 2024 年度股东大会审议通过之日起至 2025 年度股东大会召开之日止。 圣元环保股份有限公司 关于为控股子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别风险提示: 截至本公告披露日，公司及全资/控股子公司提供担保总额为 629,255.10 万元，占公司 2024 年度经审计归属于上市公司股东净资 产的比例为 171.39%，超过最近一期经审计净资产 100%。公司及全 资/控股子公司 ...

Core Viewpoint - The company is actively expanding its steam supply and heating business starting from 2023, leveraging its existing power plants to enhance economic benefits compared to traditional steam power generation [1] Group 1: Business Expansion - The company has signed contracts for steam supply, with prices generally above 200 yuan per ton, indicating a more profitable venture compared to steam power generation [1] - New steam supply projects are being developed in Liangshan, Putian, Zhangzhou, Caoxian, and Anhui, with the Liangshan project expected to be operational by 2025 [1]

Core Viewpoint - The company is actively expanding its steam supply business starting from 2023, leveraging existing power plants to enhance economic benefits through higher pricing compared to traditional electricity generation [1] Group 1: Business Expansion - The company has signed contracts indicating that the steam supply price is generally above 200 yuan per ton, which is more economically beneficial than electricity generation from steam [1] - New steam supply projects are being developed, including those in Liangshan, Putian, Zhangzhou, Caoxian, and Anhui, with a focus on increasing capacity by 2025 [1] Group 2: Future Outlook - The company is committed to developing its steam supply business further, with specific projects already in progress and more planned for the near future [1]

Group 1 - The company is focusing on developing a new health industry centered around taurine raw materials and its derivatives [2] - Multiple "Taurine+" products have been developed and produced, covering general food, special dietary food, and health food [2] - The company has initiated online and offline sales strategies, utilizing a combination of media marketing channels [2] Group 2 - The company has launched a brand MIS system and招商手册 for nationwide level agency recruitment [2] - Stores have already opened in cities such as Chengdu, Jinan, Taizhou, Fuzhou, and Quanzhou, with more expected to open in major cities like Beijing, Shanghai, and Chongqing by the end of the year [2]

Core Viewpoint - Shengyuan Environmental Protection announced on October 21 that its annual production project of 40,000 tons of taurine raw materials and the first phase of the food and pharmaceutical health industry project are two independent projects [1] Group 1 - The company is currently constructing the annual production project of 40,000 tons of taurine raw materials, with the specific production start date to be confirmed through official announcements [1] - The investment for the chemical pharmaceutical (food) raw materials and food and pharmaceutical health industry project is 1.166 billion yuan, with further details to be released in an announcement on May 15, 2024 [1]

Core Viewpoint - Shengyuan Environmental Protection is expanding its production capacity with new projects, including a 30,000 kiloliter beverage production line and a 4,000-ton taurine raw material project, which are part of separate initiatives [2]. Group 1: Project Details - The first phase of Shengyuan Environmental Protection's project includes the construction of a production line for taurine beverages and collagen beverages, a puffed dry food line with an annual capacity of 30,000 tons, and a freeze-dried cat food and health products line with a capacity of 1,200 tons per year [2]. - The 40,000-ton taurine raw material project is independent from the food and pharmaceutical health industry phase one project [2]. Group 2: Project Status - The construction of the 40,000-ton taurine raw material project is still ongoing, and the specific production start date will be announced by the company in the future [2].