环保周报：垃圾焚烧发电企业持续布局东南亚市场-20251220

Investment Rating - The report maintains a "Positive" investment rating for the environmental sector [4]. Core Insights - The environmental sector has shown resilience, with a 0.3% increase in the sector's performance, outperforming the broader market [4][11]. - The report highlights the ongoing expansion of waste-to-energy companies in Southeast Asia, particularly in Vietnam, Thailand, and Indonesia, where waste management issues are significant [5][19][25]. - The Vietnamese government aims to increase waste recycling and processing, with a target of 95% by 2030, while currently, only 10% of waste is incinerated [21][22]. - Thailand's waste management is heavily reliant on landfills, with over 70% of waste sent to landfills, and the government plans to increase waste-to-energy capacity significantly by 2037 [25][26]. - Indonesia faces severe waste management challenges, with only 9-10% of waste processed properly, prompting government initiatives to expedite waste-to-energy project approvals [27][28]. Summary by Sections Market Performance - As of December 19, the environmental sector rose by 0.3%, outperforming the Shanghai Composite Index, which remained flat [4][11]. Industry Dynamics - The report discusses the release of the 2025 energy-saving and carbon reduction technology equipment directory, which includes over 350 technologies aimed at improving energy efficiency [32]. - The report notes the government's push for clean and efficient coal utilization, indicating a shift towards higher value products in the coal industry [33]. Waste-to-Energy Market in Southeast Asia - Vietnam generates significant waste, with 63% currently landfilled and only 10% incinerated. The government has set ambitious waste management goals [19][21]. - Thailand's waste generation is increasing rapidly, with a focus on enhancing waste-to-energy capacity as part of its renewable energy development plan [25][26]. - Indonesia's government is actively working to improve waste management, with plans to streamline project approvals for waste-to-energy facilities [27][28]. Investment Recommendations - The report suggests that the environmental sector, particularly waste management and recycling, is expected to maintain high growth due to government policies and market reforms. Key companies to watch include Huanlan Environment, Xingrong Environment, and Hongcheng Environment [5][51].