无人化浪潮下环卫行业变革：盈峰环境的技术落地与市场拓展之路

Core Insights - The traditional sanitation industry is facing intensified pain points, while the penetration of automation technology is pushing the industry towards a commercial critical point, with the space for intelligent cleaning gradually being released [1][2] - Yingfeng Environment has launched the "Swarm" intelligent connected cleaning robot series, marking an important exploration direction for the industry's intelligent transformation [1] - The "Swarm" system has achieved large-scale deployment in 40 cities across 21 provinces in China, indicating a new phase of commercial development in the domestic sanitation automation sector [1][8] Industry Trends - The sanitation service market is expanding, with a projected market size of approximately 458.5 billion yuan by 2025, reflecting a year-on-year growth of 7% [2] - The industry is expected to see a compound annual growth rate of 15.56% from 2025 to 2029, reaching 644.2 billion yuan by 2029 [2] - Despite steady overall market growth, the penetration rate of intelligent cleaning remains low, suggesting significant room for growth driven by policy encouragement and cost reduction in sanitation applications [2] Company Performance - Yingfeng Environment has maintained the top position in environmental equipment sales for 24 consecutive years, with a market share of 18.8% in the first half of 2025 [3] - In the new energy sanitation equipment segment, the company holds a market share of 32.6%, reinforcing its leading position [3] - The company signed 31 new city service projects in the first half of 2025, with a total contract value of 2.335 billion yuan, ranking second in the industry [3] Technological Advancements - The "Swarm" system aims to transform sanitation operations from "mechanical replacement" to "intelligent collaboration," enhancing operational efficiency by up to 300% [4] - The series includes three core products designed for various urban scenarios, with the largest model, the 18-ton "Big Bumblebee," filling a gap in high-intensity urban cleaning [4][5] - The system's effective operation relies on the "Hivemind" platform for AI-driven decision-making and a supporting charging station for autonomous energy replenishment [5] Market Validation - The "Swarm" series has achieved a 95% autonomous cleaning coverage rate, addressing common issues in traditional sanitation operations [7] - The economic value of the "Swarm" products has been validated, with a single "Little Bumblebee" robot capable of replacing four sanitation workers [7] - The company has successfully transitioned from pilot projects to large-scale applications, marking a significant milestone in the evolution of its automation services [8]