Core Viewpoint - China Resource Recycling Group (China Zihuan Group) has shown strong development momentum since its establishment on October 18, 2024, marking a significant focus on the resource recycling industry by central enterprises [2][7]. Group 1: Company Development and Strategy - China Zihuan Group has established 9 subsidiaries within 8 months, demonstrating exceptional strategic execution [3]. - The subsidiaries cover various sectors including equipment asset management, plastic recycling, battery recovery, and green technology research, indicating a comprehensive approach to resource recycling [3][4]. - The group aims to create a national resource recycling and reuse platform, enhancing the efficiency of resource utilization and leading the industry towards a green and sustainable path [5][6]. Group 2: Industry Impact and Government Support - The establishment of China Zihuan Group reflects the central government's strategic intent to prioritize resource recycling, with the group engaging with over 1,000 local governments and enterprises [7]. - The group is focused on integrating state-owned assets and businesses to enhance the recycling of various materials, including steel, textiles, and electronic waste [7][8]. - The government has set ambitious targets for the recycling industry, aiming for a comprehensive utilization rate of 60% for solid waste and an annual output value of 5 trillion yuan for the resource recycling industry by 2024 [8]. Group 3: Future Outlook and Collaboration - The group plans to deepen cooperation with governments, enterprises, and society to secure more policy support and funding, while also enhancing technological research and development [9]. - With increasing environmental awareness, China Zihuan Group is positioned to seize market opportunities and drive rapid development in the resource recycling industry [9].

4月22日，在江苏南京成立中国资环新能源科技公司；4月23日，在江苏无锡成立中国资环绿色纤维公 司；4月25日，华润环保科技有限公司宣布更名为中国资环集团绿色投资有限公司；4月27日，在浙江杭 州揭牌成立中国资环有色金属投资公司…… 为何新成立一家央企？ 重组整合再生资源等相关资产和业务 2024年10月18日，中国资环集团在天津正式挂牌成立，企业主责为资源循环利用。 一家新央企是如何成立的？ 连日来，中国资源循环集团（以下简称中国资环集团）动作不断： 中国资环集团只是央企专业化整合的一个缩影。近年来，央企专业化整合的步伐不断加快。 2024年，国务院国资委整合央地优势资源组建了中国数联物流信息有限公司，完成了爱达邮轮公司资源 整合，推动中国一汽等汽车企业控股中国诚通力神青岛，在人工智能、量子信息等重要领域组织推动了 12组重点项目集中签约。 国务院国资委企业改革局局长林庆苗介绍，今年国务院国资委还将继续进行新公司组建、加大力度推进 战略性重组，提升中央企业在重要行业产业中的地位作用。同时，纵深推进专业化整合，整合优势资 源，减少行业内卷，营造产业发展良好生态。 业务探索有哪些？ 开展退役光伏组件回收利用，建 ...

Core Insights - The Cuban rum industry, once thriving, is facing an unprecedented crisis due to the collapse of its sugar industry, which is essential for rum production [2][3][6] - Sugar production in Cuba has drastically decreased from over 8 million tons in the late 1980s to approximately 350,000 tons in the 2022/23 season, with projections for the 2024/25 season dropping below 200,000 tons, marking the lowest levels since the 19th century [2][3] Sugar Industry Crisis - The sharp decline in sugar production highlights a structural crisis within an industry that was once a pillar of the Cuban economy, now producing only 1/40th of its peak output [3] - The shortage of sugar has led to a critical lack of molasses, the key ingredient for rum production, affecting both local distilleries and international partnerships [3][4] - Various factors such as U.S. sanctions, energy shortages, mismanagement, insufficient investment, aging equipment, natural disasters, and labor shortages have contributed to the industry's decline [3] International Collaboration Challenges - The crisis has impacted successful international collaborations, such as the Havana Club brand, which has grown from 400,000 cases to over 4 million globally since 1993 [4] - Even major international companies like Pernod Ricard and Diageo are struggling to secure raw materials, raising concerns about the sustainability of rum production in the future [4] Regulatory and Economic Implications - Strict regulations in Cuba prohibit the import of spirits or production materials, exacerbating the industry's challenges and threatening the country's economic image [6] - The lack of molasses not only poses an economic issue but also jeopardizes one of Cuba's last significant sources of hard currency [6] Alternative Solutions in Guangxi, China - In contrast, Guangxi, China, is exploring a different path for its sugar industry by developing a rum production project that integrates the entire value chain from sugarcane to rum [7] - The region is investing in modern production facilities and innovative practices, aiming to create a circular economy that utilizes all by-products of sugarcane [7][9] - Guangxi's rum industry is projected to generate significant economic value, with efforts to enhance marketing, brand recognition, and consumer culture to compete with international giants [9] Conclusion - The crisis in the Cuban rum industry reflects broader economic challenges, emphasizing the need for investment, technological innovation, and flexible policies to remain competitive in a globalized market [10]

近日，奇瑞又入股了一家涉及电池回收的企业——北京中科国脉汽车科技有限公司。 北京中科国脉汽车科技有限公司成立于今年4月，注册资本1000万元人民币，经营范围包括新能源汽车整车销售、电动汽车充电基础设施运 营、新能源汽车废旧动力蓄电池回收及梯次利用等。 股权穿透显示，该公司现由中科国脉智能科技（北京）有限公司、奇瑞商用车（安徽）有限公司共同持股，持股比例分别为80%和20%。此 次引入奇瑞，不仅是股权调整，更是奇瑞切入新能源产业链后端的一记关键落子。 对奇瑞而言，这并不是首次涉足电池回收。 就在今年3月，A股电池回收龙头宣布易主奇瑞。实控人刘军、股东宫建瑞与瑞源国际资源投资有限公司签署股权转让协议，拟转让公司控股 股东南京万德斯投资有限公司合计100%股权，转让价款为4.13亿元。 至此，瑞源国际将通过万德斯投资间接持有上市公司28.88%股份，成为万德斯间接控股股东。 据了解，这笔交易的接盘方瑞源国际是奇瑞控股集团旗下的全资一级子公司。与其说收购万德斯的是瑞源国际，不如说是奇瑞。在收购完成 后，双方将围绕绿色减碳战略展开合作，重点布局资源循环业务，包括能源金属提取、废弃物高值化利用等领域。 （ 来源：每日经济 ...

25 年前五月中企海外布局日处理规模超 3 万吨，出海布局空间广阔 【】【】[Table_Industry] 环保周报 [Table_ReportDate] 2025 年 6 月 15 日 156.tcy 证券研究报告 行业研究——周报 [Table_ReportType] 行业周报 [Table_StockAndRank] 环保 投资评级 看好 上次评级 看好 [Table_Author] 左前明 能源行业首席分析师 执业编号：S1500518070001 联系电话：010-83326712 邮 箱：zuoqianming@cindasc.com 郭雪 环保联席首席分析师 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com 吴柏莹 环保行业分析师 化工行业： 执业编号：S1500524100001 邮 箱：wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.，LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] 25 年前五月中企海外布局日处理规模超 3 万吨， 出海布 ...

中新网天津6月13日电(记者周亚强)第一届城市轨道交通资源循环研讨会13日在天津举办。大会以"循环 科创赋能、绿色引领变革"为主题，吸引来自相关行业协会、政府部门、高校及企业的近200名代表参 会，共同探讨城市轨道交通资源循环高质量发展路径。 中国城市轨道交通协会副会长兼秘书长宋敏华在致辞中表示，城市轨道交通进入运营建设并重、以运营 为主导的新发展阶段，深化城轨行业资源循环利用具有重要现实意义。"希望凝聚全国城轨交通行业资 源和智慧，深化绿色转型，共同推进城轨交通循环经济新生态构建。" "我国轨道交通行业正步入设备更新与退役的关键阶段，这为资源循环利用带来了重要机遇。"中国资源 循环集团党委常委、副总经理文峰指出，要加快共建良好生态，以标准建设为引领，打破壁垒，促进资 源共享，构建覆盖全产业链、全价值链的大循环生态，推动技术、管理、商业模式创新，激发行业新活 力。 本届大会由中国城市轨道交通协会技术装备专业委员会、天津轨道交通集团有限公司联合主办。(完) （文章来源：中国新闻网） 中国循环经济协会常务副会长赵凯称，轨道交通循环利用产业尚处起步阶段，协会将加强与轨道交通行 业协同合作，共同推动轨道交通领域资源循 ...

Core Points - The Guangdong Provincial Government has released a comprehensive plan for the construction of "waste-free cities," aiming for full implementation across all prefecture-level cities by 2025 and achieving a complete "waste-free city" status by 2035 [1] Group 1: Goals and Timeline - By 2025, all prefecture-level cities in Guangdong will fully implement "waste-free city" construction [1] - By 2027, the proportion of hazardous waste landfill disposal will decrease, solid waste generation intensity will significantly decline, and resource utilization rates will improve [1] - The ultimate goal is to establish a "waste-free city" across the province by 2035 [1] Group 2: Policy and Technological Framework - The plan emphasizes the need for a robust policy and regulatory framework, alongside technological innovation to support waste management [2] - It proposes the establishment of an ecological compensation mechanism for the cross-regional transfer and disposal of solid waste [2] - The plan includes the development of core technologies for solid waste recycling and encourages participation in carbon reduction projects [2] Group 3: Resource Recycling and Management - A comprehensive recycling system will be established, including collection points, transfer stations, and sorting centers, creating an ecological loop involving residents, individual recyclers, and recycling enterprises [2] - Each county or district is required to establish at least one recycling sorting center [2] - The plan aims to develop a resource recycling industry, focusing on modern "urban mining" bases and circular economy industrial parks [2] Group 4: Hazardous Waste Management - The plan outlines a coordinated approach to hazardous waste disposal, emphasizing the need for centralized disposal capabilities [3] - It encourages the provision of one-stop environmental management services for small and micro enterprises [3] - The plan aims to enhance the information management of hazardous waste through standardized processes and smart technologies [3] Group 5: Sector-Specific Initiatives - In the industrial sector, the plan promotes the recycling of industrial solid waste and emphasizes the management of battery manufacturing and recycling [4] - It also addresses the management of construction waste, advocating for source reduction and the use of recycled materials in construction projects [5] - In agriculture, the plan promotes eco-friendly farming practices and the recycling of agricultural solid waste [5] Group 6: Collaborative Efforts - The plan encourages collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area to establish unified solid waste management standards [7] - It aims to explore mechanisms for regional waste collaborative utilization and the construction of regional recycling projects [7]

Group 1: Industrial Waste Utilization - The city of Sanmenxia has signed a contract with Guolin Green Energy (Beijing) Technology Co., Ltd. for a project that processes 1 million tons of solid waste annually, utilizing "take sand and leave gold" catalytic technology to extract valuable elements from industrial waste like red mud and coal gangue, producing high-value products such as white carbon black and silica [1] - The project aims to enhance both economic and environmental benefits, serving as a benchmark for addressing large-scale industrial waste disposal challenges [1] - Additional collaborations with Dalian Yikai Technology Co., Ltd., Shaanxi Hengchuangyuanxiang Technology Co., Ltd., and Shaanxi University of Science and Technology focus on the green recycling and high-value utilization of multi-base solid waste [1] Group 2: Agricultural Waste Resource Utilization - The introduction of the Keli En biomass heat source project utilizes agricultural waste such as spent mushroom substrates and crop straw to produce steam for local enterprises, effectively reducing energy costs [2] - This project processes 96,000 tons of agricultural waste annually and reduces carbon dioxide emissions by approximately 26,000 tons, achieving both energy savings and cost reduction [2] - The worm farming base in Tianchi Town, Mianchi County, utilizes livestock manure to cultivate earthworms, producing high-quality organic fertilizer and promoting a circular agricultural model [2] Group 3: Municipal Waste Management - Sanmenxia has established the country's first 150-ton capacity grate incineration project in Lushi County, and a kitchen waste treatment project with a capacity of 50 tons has passed environmental assessments, marking a significant advancement in the reduction, resource utilization, and harmless treatment of kitchen waste [2] - The city aims to continue enhancing resource recycling efforts, focusing on key projects and critical areas to build an efficient recycling system that supports a comprehensive green and low-carbon urban transformation [2]

Core Viewpoint - The launch of casting aluminum alloy futures and options marks the first listing of a recycled commodity in China's futures market, promoting the development of resource recycling and remanufacturing industries in the country [1][9]. Group 1: Market Launch - The Shanghai Futures Exchange witnessed the successful listing of casting aluminum alloy futures at 9 AM and options at 9 PM, with representatives from regulatory bodies, industry associations, and enterprises present to witness this historic moment [1]. - The first hour of trading for casting aluminum alloy futures was relatively stable, indicating a positive market response [3]. Group 2: Industry Significance - The aluminum industry now has a complete futures chain with the addition of casting aluminum alloy futures, complementing existing products like alumina and electrolytic aluminum, thus serving the entire aluminum industry supply chain [3]. - Casting aluminum alloy is widely used in various applications, including electric vehicles, motorcycles, hardware, and mobile phone casings, highlighting its ubiquitous presence in daily life [4]. Group 3: Environmental Impact - Casting aluminum alloy is characterized by its circular economy and green low-carbon attributes, as it is produced from recycled aluminum, significantly reducing energy consumption and environmental impact [6]. - The carbon emissions from producing one ton of casting aluminum alloy are only 3.6% of those from traditional electrolytic aluminum production, and it saves 22 tons of water per ton produced [6]. Group 4: Standardization and Quality - Prior to the launch of casting aluminum alloy futures, the recycling system for scrap aluminum was fragmented, leading to significant price discrepancies of up to 2000 yuan per ton due to varying product quality [7]. - The introduction of standardized delivery criteria for casting aluminum alloy futures establishes a quality benchmark, enhancing procurement confidence for downstream enterprises and promoting the recycling of scrap aluminum [9].

6月5日，报道《买卖二手手机，如何更安心》在本版刊发后，有读者关心：闲置的旧手机，如果不想卖 掉，有没有可靠的处置渠道？本报记者了解到，中国资源循环集团已逐步建立起手机安全回收处置体 系。成立仅仅半年多，这支主责为资源循环利用的"国家队"，开展了哪些工作？下一步还将怎么干？让 我们走近这家年轻的中央企业，一探究竟。 ——编者 连日来，中国资源循环集团（以下简称"中国资环集团"）动作不断： 4月22日，在江苏南京成立中国资环新能源科技公司；4月23日，在江苏无锡成立中国资环绿色纤维公 司；4月25日，华润环保科技有限公司宣布更名为中国资环集团绿色投资有限公司；4月27日，在浙江杭 州揭牌成立中国资环有色金属投资公司…… 为何新成立一家央企？ 重组整合再生资源等相关资产和业务 2024年10月18日，中国资环集团在天津正式挂牌成立，企业主责为资源循环利用。 一家新央企是如何成立的？ 信息显示，中国资环集团注册资本100亿元，由国务院国资委和中国宝武、中国石化、华润集团、中国 铝业、中国五矿等5家企业共同出资组建，国务院国资委代表国务院履行出资人职责。其中，国务院国 资委、中国宝武、中国石化、华润集团各占股20%， ...