2025年上半年，"垃圾不够烧了"是环保行业中最热的一个传闻，也是令许多环保企业无奈的产业现实。 由于产业规划失衡、垃圾分类导致资源化分流等原因，不少垃圾焚烧厂都出现了"吃不饱"，也就是生活 垃圾焚烧处理能力远高于处理量的情况。从垃圾围城走到垃圾荒，环境改善的背后，"无米之炊"却成了 困扰一众垃圾焚烧企业的生存难题。 近日，垃圾焚烧龙头企业之一光大环境（00257.HK）公布了2025年上半年的中期业绩，显示报告期内 公司营收143.04亿港元，同比减少8%。归母净利润22.07亿港元，同比减少10%。基本每股收益为0.3592 港元，2025年半年度拟每股派息0.15港元。值得一提的是，2025年上半年公司垃圾处理量近2900万吨， 同比增长近2%；发电量约148亿千瓦时，同比增长近9%。 "过去五年来，光大环境每年的垃圾处理量都在增加。这个增加的过程不是一个自然增长的过程，而是 非常艰难的过程。"光大环境执行董事兼总裁栾祖盛在2025年中期业绩媒体电话会上回答《华夏时报》 记者提问时表示，目前整个垃圾焚烧行业中，垃圾的清运比和焚烧比倒挂，粗略估计整个行业缺口在 20%左右。目前，公司正在加强介入垃圾收运环 ...

Core Viewpoint - Hanchuan Intelligent has filed a lawsuit against CATL for failing to fulfill payment obligations, which has led to significant financial distress for the company [1][3]. Group 1: Financial Distress - Hanchuan Intelligent reported a massive loss of 1.1 billion yuan in 2024, with a revenue drop of 64.61% to 474 million yuan [4][5]. - The company has overdue bank debts and payables totaling 176 million yuan, representing 27.12% of its latest audited net assets and 96.93% of its cash [3]. - In the first quarter of 2025, Hanchuan Intelligent's revenue decreased by 28.44% to 191 million yuan, with a net profit decline of 10.37% [5]. Group 2: Legal Actions - Hanchuan Intelligent has initiated legal proceedings against CATL and its subsidiaries for a total claim of 60.88 million yuan due to delayed payments [1]. - The company has established a collection team to enhance the management of accounts receivable and has implemented measures to recover overdue payments [2]. Group 3: Business Operations - Hanchuan Intelligent focuses on providing intelligent manufacturing solutions, particularly in the automotive electrification and intelligence sectors [5]. - The company has experienced a decline in its automotive equipment delivery and acceptance progress, which has adversely affected its overall revenue [5].