环保行业周报：推动无废城市建设，固废处理迎新机

Investment Rating - The investment rating for the companies in the report is "Buy" for Huicheng Environmental, Gaoneng Environment, and Hongcheng Environment [25]. Core Insights - The report emphasizes the construction of an ecological environment monitoring network and the promotion of "waste-free city" initiatives to reduce pollution through resource conservation [2]. - The macroeconomic environment is characterized by historically low interest rates, making high-dividend assets and growth-oriented companies attractive [3]. - The report highlights the positive impact of government policies on the solid waste treatment industry, recommending attention to leading companies in hazardous waste treatment [2][3]. Summary by Sections 1. Investment Views - The Ministry of Ecology and Environment released a draft for the "Ecological Environment Monitoring Regulations," which outlines a comprehensive monitoring framework [9]. - A joint publication by multiple departments on the "Waste-Free City" construction project emphasizes compliance with national standards and the importance of resource efficiency [36]. - The report notes that institutional holdings and valuations in the environmental sector are at historical lows, suggesting a potential for rebound [26]. 2. Industry Trends - The environmental sector has underperformed compared to the broader market, with specific sub-sectors showing varied performance [23]. - The report indicates a significant drop in the environmental sector's performance, with a decline of 4.68% compared to the Shanghai Composite Index [23]. 3. Key Announcements - The report includes updates on various environmental policies and funding allocations for pollution prevention and control [43]. - It highlights the importance of technological innovation in reducing emissions and improving air quality [5]. 4. Company Highlights - Huicheng Environmental is noted for its strong technological capabilities and significant projects in hazardous waste treatment, with a projected revenue increase from its recent projects [126]. - Gaoneng Environment is recognized for its comprehensive environmental services and a robust project pipeline, particularly in hazardous waste and waste-to-energy sectors [126]. - Hongcheng Environment is highlighted for its consistent dividend payouts and strong growth in its core businesses, including water supply and waste treatment [128][129].