环保与公用事业行业周报：化债政策再度加码，环保企业有望深度受益

Investment Rating - The report maintains an "Outperform" rating for the public utilities sector [2] Core Views - The report highlights that the intensified debt resolution policies are expected to significantly benefit environmental companies [5][48] - The government is set to implement the largest debt resolution measure in recent years, which will alleviate pressure on local governments and support economic development [48] Summary by Sections Market Review - The public utilities sector index fell by 4.8% this week, while the environmental sector index decreased by 3.8% [4][24] - In the environmental sector, the water sector dropped by 4.1%, while air pollution control fell by 6.2% [26] Industry Dynamics - The Ministry of Water Resources is advancing major national water network projects, emphasizing the need for investment in water resource management and ecological restoration [4] - The National Energy Administration reported strong growth in renewable energy installations and generation, highlighting the importance of addressing grid connection and consumption issues [4][62] Investment Recommendations - The report recommends focusing on energy-saving and environmental protection sectors, with specific companies highlighted for investment opportunities, including Zhongyuan Environmental Protection and Beijiete [5][6] - The report suggests that companies like Sanxia Energy and Longyuan Power are key players in the renewable energy sector [4][6] Company Announcements - The report notes that environmental companies are facing significant accounts receivable issues, with a substantial portion of debts owed by government entities [49][52] - Companies such as Wangneng Environment and Lihua Technology are actively engaging in share repurchase plans to stabilize their stock prices [67]