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。 一、本期业绩预计情况 （一）业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 杭州大地海洋环保股份有限公司 证券代码：301068 证券简称：大地海洋 公告编号：2026-001 杭州大地海洋环保股份有限公司 2025 年度业绩预告 二、与会计师事务所沟通情况 本次业绩预告相关数据是公司财务部门初步测算的结果，未经会计师事务所 审计。公司就业绩预告有关事项与会计师事务所进行了预沟通，公司与会计师事 务所在业绩预告方面不存在重大分歧，具体数据以最终审计结果为准。 三、业绩变动原因说明 2025 年度公司业绩变动主要受废弃电器电子产品处理补贴政策变更的影响。 2024 年 1 月 1 日起，国家停征废弃电器电子产品处理基金，改为专项资金"以 奖代补"新模式。根据财政部 2025 年 7 月发布的《财政部关于下达 2025 年废弃 电器电子产品处理专项资金预算的通知》（财资环〔2025〕59 号，以下简称《通 杭州大地海洋环保股份有限公司 | （二）业绩预告情况：预计净利润为负值 | | ...

证券日报网讯1月30日，大地海洋（301068）在互动平台回答投资者提问时表示，公司部分废弃电器电 子产品拆解产物(如废电路板等)含有金、银等稀贵金属组分，公司将上述拆解产物直接销售给下游具备 相关资质的企业，不直接提纯。2025年金属价格波动对公司采销价格等有一定影响，公司已通过加强金 属价格监测，灵活调整定价策略等方式积极应对。 ...

[Table_Page] 跟踪分析|环保 证券研究报告 [Table_Title] 环保行业深度跟踪 碳减排双控元年，重视再生、垃圾焚烧 [Table_Summary] 核心观点： ⚫ 建议关注：联美控股、山高环能、朗坤科技、伟明环保、瀚蓝环境、大 地海洋、上海实业控股、海螺创业 [Table_Pic 相对市场表现 2025Quote] "能耗双控"转向"碳排放双控"，循环减排、绿能产业需求提振在 即。根据央广网，2026 年是从能耗双控全面转向碳排放双控的第一年， 减排已从前期准备进入实质攻坚阶段。结合"十五五"规划建议将"以 碳达峰碳中和为牵引，协同推进降碳、减污、扩绿、增长""加快建设 新型能源体系"纳入总体部署，根据《加快构建碳排放双控制度体系工 作方案》，"十五五"开始实施以强度控制为主、总量控制为辅的碳排 放双控制度，今年起各地政府将首次面临正式的碳中和目标评价考核。 从全球视角来看，欧盟碳关税已于 26 年 1 月 1 日正式开征，将加速全 球碳市场接轨进程。当前欧盟 ETS 碳价在 80-90 欧元/吨，而我国最新 碳价仅 81 元人民币/吨左右，将显著增加我国向欧盟出口产品的成本， 出口企业 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the environmental sector, including Huanlan Environment, Sanfeng Environment, and others, indicating a positive outlook for their stock performance [5]. Core Insights - The environmental industry is entering a critical phase of carbon reduction, with a focus on recycling and waste incineration. The demand for green energy and recycling industries is expected to rise significantly as China transitions to a dual control system for carbon emissions starting in 2026 [4][17]. - The introduction of the EU carbon tariff in 2026 is anticipated to increase the cost of exports from China, prompting companies to adopt greener practices to mitigate carbon emissions [4][17]. - High dividend assets in the environmental sector are expected to remain attractive in 2026, with companies like Guangda Environment and Huanlan Environment showing significant stock price increases in 2025 [4][5]. - The bio-diesel sector is experiencing a rise in UCO prices, which are expected to benefit companies involved in waste oil processing and bio-fuel production [19][25]. Summary by Sections Section 1: Market Performance - The environmental sector has shown strong performance in 2026, with water treatment, energy-saving, and recycling sectors leading the gains. Companies are diversifying into secondary businesses to enhance growth [11][14]. Section 2: Policy and Regulatory Developments - The report highlights the implementation of the "Solid Waste Comprehensive Governance Action Plan" aimed at reducing industrial solid waste and enhancing recycling efforts [33]. - The introduction of the carbon trading market and the EU carbon tariff are significant regulatory changes that will impact the industry [17][31]. Section 3: Company Performance and Recommendations - Key companies recommended for investment include Huanlan Environment, Shanghai Industrial Holdings, and others, which are expected to benefit from favorable market conditions and policy support [4][5]. - The report notes that the environmental sector's valuation is currently at a historical low, suggesting potential for future growth [45][52]. Section 4: Financial Analysis - The financial metrics for key companies indicate a positive outlook, with projected earnings per share (EPS) and price-to-earnings (PE) ratios suggesting undervaluation relative to historical performance [5]. Section 5: Market Trends - The report tracks the performance of various sub-sectors within the environmental industry, noting that energy-saving manufacturing and recycling have shown the most significant growth [49]. Section 6: Export and Pricing Trends - UCO prices have remained strong, with recent data showing a 6.1% increase compared to early 2025, indicating robust demand for bio-diesel feedstock [19][23]. Section 7: Carbon Market Activity - The carbon market has seen significant trading volumes, with recent data indicating a closing price of 78.50 CNY per ton, reflecting ongoing market activity and interest [31]. Section 8: Company Announcements - Recent announcements from companies like Dongjiang Environmental and Zhongyuan Environmental indicate strategic acquisitions aimed at enhancing operational capabilities and market positioning [42].

（编辑 楚丽君） 证券日报网讯 1月9日，大地海洋在互动平台回答投资者提问时表示，公司股价波动受宏观经济环境、 行业政策调整、资金偏好等多种因素的影响。公司管理层始终坚信，扎实做好主营业务、持续提升公司 的内在价值，产业链布局价值释放，是应对市场波动、实现长远发展的根本。公司将继续专注提升经营 效率与核心竞争力，努力回报广大投资者的信任。 ...

Core Viewpoint - The implementation of the EU Carbon Border Adjustment Mechanism (CBAM) on January 1, 2026, signifies a new era in global trade focused on low-carbon thresholds, driving demand for circular economy industries and presenting growth opportunities for companies like Dadi Ocean [1] Group 1: Industry Trends - The EU carbon price has surged to €90 per ton, compelling export companies to accelerate their low-carbon transformation and increasing the demand for circular economy solutions [1] - The CBAM will cover 180 downstream products, including steel, aluminum, cement, and electricity, requiring importers to bear the carbon costs associated with these goods, thus significantly boosting the demand for recycled materials [1] Group 2: Company Strategy - Dadi Ocean has developed a one-stop waste disposal service system that aligns with the core aspects of the circular economy, utilizing an internet recycling network and professional dismantling capabilities to create a closed-loop waste management process [2] - The company has established a carbon account for household waste recycling, allowing for the calculation of carbon reduction from waste recovery and providing traceable carbon footprint data to downstream enterprises, making it a key partner for exporters facing carbon tariffs [2] Group 3: Mergers and Acquisitions - The strategic acquisition of Zhejiang Huguo Waste Management Co., completed on August 15, 2025, has enhanced Dadi Ocean's industry chain advantages by expanding its operations into the broader market of household waste recycling [2] - Huguo's innovative model of direct collection and smart regulation has improved recycling efficiency and enabled full traceability of waste from source to end [2] Group 4: Synergies and Future Outlook - Post-acquisition, the collaboration between Dadi Ocean and Huguo is yielding synergies, with Huguo's network of nearly 2,500 communities providing a stable raw material supply, enhancing scale effects and optimizing cost structures [3] - The integration of technology and data management has allowed Dadi Ocean to establish a comprehensive traceable carbon footprint data system, meeting the verification needs of downstream companies regarding carbon tariffs [3] - With the acceleration of national "waste-free city" initiatives and the dual impact of EU carbon tariffs, the circular economy sector is experiencing a policy-driven growth phase, positioning Dadi Ocean to benefit from the rising demand for recycled materials [3]

证券日报网讯12月25日，大地海洋（301068）在互动平台回答投资者提问时表示，公司股价波动受宏观 经济环境、行业政策调整、资金偏好等多种因素的影响。公司管理层始终坚信，扎实做好主营业务、持 续提升公司的内在价值，产业链布局价值释放，是应对市场波动、实现长远发展的根本。公司将继续专 注提升经营效率与核心竞争力，努力回报广大投资者的信任。 ...

格隆汇12月25日丨大地海洋(301068.SZ)在投资者互动平台表示，公司目前暂未采用智能机器人分拣设 备。公司会持续关注新技术在废弃资源循环利用领域的应用，未来，我们也会结合市场需求与自身业务 实际，持续优化产品和服务，通过提高自动化水平等技术升级方式促进"前端回收-中端分拣-后端利 用"的全链条价值提升，不断提高公司的核心竞争力。 ...

Group 1 - The core viewpoint of the news highlights the financial performance and stock trading activities of Dadi Ocean, indicating a decline in stock price and mixed results in financing activities [1][2] - As of December 24, Dadi Ocean's stock price fell by 1.58%, with a trading volume of 24.30 million yuan, and a net financing purchase of 1.12 million yuan [1] - The company's financing balance is 42.08 million yuan, accounting for 1.16% of its market capitalization, which is below the 50th percentile level over the past year, indicating a low financing position [1] Group 2 - As of December 19, the number of shareholders increased by 4.60% to 4,476, while the average circulating shares per person decreased by 4.40% to 22,515 shares [2] - For the period from January to September 2025, Dadi Ocean reported a revenue of 1.016 billion yuan, representing a year-on-year growth of 45.74%, but a net profit attributable to shareholders of -17.51 million yuan, a decrease of 136.33% year-on-year [2] - The company has distributed a total of 80.04 million yuan in dividends since its A-share listing, with 69.96 million yuan distributed over the past three years [3]

Group 1 - The core viewpoint of the news highlights the financial performance and trading activity of Dadi Ocean, indicating a decline in stock price and mixed results in financing and revenue [1][2]. - As of December 23, Dadi Ocean's stock price fell by 2.91%, with a trading volume of 30.81 million yuan. The financing buy-in amount was 1.83 million yuan, while the financing repayment was 1.42 million yuan, resulting in a net financing buy of 0.42 million yuan [1]. - The total financing and securities balance for Dadi Ocean reached 40.96 million yuan, which is 1.12% of its circulating market value, indicating a low financing balance compared to the past year [1]. Group 2 - As of December 19, the number of shareholders for Dadi Ocean increased by 4.60% to 4,476, while the average circulating shares per person decreased by 4.40% to 22,515 shares [2]. - For the period from January to September 2025, Dadi Ocean reported a revenue of 1.016 billion yuan, reflecting a year-on-year growth of 45.74%. However, the net profit attributable to the parent company was a loss of 17.51 million yuan, a significant decline of 136.33% compared to the previous year [2]. - Dadi Ocean has distributed a total of 80.04 million yuan in dividends since its A-share listing, with 69.96 million yuan distributed over the past three years [3].