中科环保：技术创新引领未来，业绩增长预期强劲

Core Insights - Zhongke Environmental Protection (301175.SZ) reported a strong performance in Q3 2024, with a revenue of 1.2 billion yuan, a year-on-year increase of 12.6%, and a net profit of 264 million yuan, up 27.55% [1][2] - The company achieved a gross margin of 41.42%, an increase of 2.16 percentage points, and a net margin of 24.56%, up 2.13 percentage points from the previous year [1] Financial Performance - Revenue for the first three quarters reached 1.2 billion yuan, reflecting a 12.6% growth year-on-year [1] - Net profit amounted to 264 million yuan, representing a 27.55% increase compared to the same period last year [1] - Gross margin improved to 41.42%, while net margin rose to 24.56% [1] Technological Advancements - The company has maintained a leading position in technology innovation, with a compound annual growth rate of 64.32% in R&D investment over the past four years [1] - Successful development of multi-pollutant collaborative treatment technology in partnership with the Chinese Academy of Sciences, achieving HCl removal rate of over 96.8% and SO2 removal rate of over 97.1% [1] - Breakthrough in fly ash electric furnace melting technology, enabling high-temperature melting of fly ash into glassy slag for use in construction materials [1][2] Strategic Initiatives - Implementation of an equity incentive plan covering 29 key personnel, involving 30.137 million restricted shares, which is 2.05% of the total share capital [3] - A five-year dividend plan ensuring at least 60% of the annual net profit attributable to shareholders will be distributed in cash [3] - Successful inclusion of the Phase II project of the garbage incineration power generation project in the subsidy list for biomass power generation in Guangxi [3] Recognition and Awards - Zhongke Environmental Protection was recognized as a national-level "specialized, refined, and innovative" small giant enterprise, enhancing its reputation in the environmental protection sector [2][3] - The company received an A-level rating for information disclosure from the Shenzhen Stock Exchange, reflecting its commitment to transparency and investor relations [3]