Core Insights - The forum highlighted the importance of functional membrane materials as a key component of China's strategic emerging industries, with the total output value of the membrane industry expected to reach 800 billion yuan by 2030 [1] Industry Overview - In 2024, China's membrane industry is projected to achieve a total output value of 482.2 billion yuan, accounting for approximately 29% of the global market [1] - The development of membrane technology is anticipated to be driven by both technological innovation and practical application, emphasizing the need for deep collaboration between industry, academia, and research [1] Company Developments - Beijing Water Source Technology Co., Ltd. (碧水源) introduced four innovative products at the event, including the macro-pulse MBR membrane module (MBRU5.0), a smart water management system, a high-efficiency porous adsorbent, and a hollow fiber membrane column for health separation and purification [1] - The company's chairman, Huang Jianglong, emphasized the commitment to making wastewater treatment more energy-efficient, enhancing smart water operations, effectively utilizing water resources, and ensuring health safety [1]

2025年11月22日，由中国膜工业协会、中国交通建设集团有限公司(简称中交集团)、中国城乡控股 集团有限公司(简称中国城乡)及北京碧水源科技股份有限公司(简称碧水源)共同主办的"膜技术高质量发 展论坛暨碧水源2025年度创新产品发布会"在北京举行。本次发布会以"膜力驱动·智创价值新生态"为主 题，汇聚了来自政府部门、行业协会、科研院所、企业伙伴及媒体代表等200多名各界嘉宾，大会向社 会公众进行现场直播，并通过交建通与中交集团全体员工直播分享。 启幕·4位重量级嘉宾致辞高擎行业与企业"新质使命" 大会由中国膜工业协会秘书长王继文主持。 新加坡工程院院士、国际水协膜技术专家委员会主席黄浩勇教授发表致辞。他指出，在以碧水源为 代表的一批民族企业关键推动下，我国膜技术已实现从"跟跑""并跑"到部分"领跑"的历史性跨越。形成 了成熟的产品体系与产业链，并从单一水处理拓展至海水淡化、工业零排、盐湖提锂及新能源等战略新 兴领域；面对全球膜技术竞争进入以"材料创新、系统集成、绿色化与智慧化"为特征的深水区，黄浩勇 提出未来发展的三大核心路径：一是推动技术范式从"污染去除"向"资源回收"转变，使水处理设施成为 水、能源与营 ...

碧水源四位青年科学家发布了四款前沿产品： 1. 宏脉冲MBR膜组器（MBRU5.0） 2025年11月22日，"膜技术高质量发展论坛暨碧水源2025年度创新产品发布会"在北京举行。本次会议由 中国膜工业协会、中交集团、中国城乡及碧水源（300070)共同主办，以"膜力驱动·智创价值新生态"为 主题，汇聚了200多名各界嘉宾。 新加坡工程院院士黄浩勇教授在致辞中指出，我国膜技术已实现从"跟跑"到部分"领跑"的跨越。他提出 未来三大发展路径：从"污染去除"转向"资源回收"；强化膜技术与多学科融合；关注膜技术全生命周期 可持续性。 中国膜工业协会理事长郑根江表示，功能膜材料是国家战略性新兴产业的重要组成部分。2024年我国膜 工业总产值达4822亿元，约占全球29%，预计2030年将达到8000亿元。 四款创新产品亮相 以"高节能、高通量、高装填、高抗污、高寿命"为核心特征，采用宏脉冲技术、均匀集水技术和梯度网 络孔膜技术三大核心技术，从源头减缓膜污染。运行数据显示，其稳定运行通量达35LMH，气水比低 至3:1，吨水吹扫能耗小于0.05kwh/m³，节能效果显著。 （文章来源：证券时报网） 4. 生命健康分离纯化 ...

（原标题：沙特同日本合资设立中东最大的海水淡化膜工厂） 中东报11月12日报道，沙特东部省省长苏欧德亲王周三在沙特东部达曼第三工业城出席了东丽膜中 东有限公司工厂开业典礼。该工厂是中东地区最大的海水淡化膜工厂，由Abunayyan Holding与东丽株 式会社合资建成，投资额超过10亿里亚尔。这是东丽株式会社在日本以外的第二家同类工厂，年产能达 30万片膜，为沙特提供了超过175个就业机会，本地化率达到70%，并计划至少达到75%。该工厂拥有6 条一体化生产线，满足沙特本地及海湾市场的需求，有助于将沙特打造成为膜技术和海水淡化技术的区 域中心，提升沙特国家产业的竞争力，并巩固沙特作为全球先进水处理技术中心的地位。 ...

Core Insights - The company reported a revenue of 2.928 billion yuan for the first half of 2025, with a net profit attributable to shareholders of -107 million yuan, and a net cash flow from operating activities of 250 million yuan [1] - The company specializes in environmental protection and water treatment, offering comprehensive technical solutions for municipal sewage and industrial wastewater treatment, resource recovery, industrial water supply, high-quality reclaimed water, and drinking water [1][2] - The core business revolves around membrane technology, with applications in wastewater resource recovery, high-quality drinking water, seawater desalination, industrial zero discharge, and salt lake resource recovery [2] Financial Performance - The overall orders for the company and its key subsidiaries have decreased compared to the same period last year, leading to a decline in revenue and gross margin [2] - The company aims to achieve high-quality transformation and growth by focusing on operational stability, structural adjustments, innovation, reform, and management optimization [2] Technological Development - The company's core technology, the Vibrating Membrane Bioreactor (V-MBR), has been promoted nationwide with an engineering scale exceeding 300,000 tons per day [3] - The company has successfully won bids for lithium extraction projects in salt lakes and has added 25 new authorized patents, bringing the total to 632 effective patents as of June 30, 2025 [3] Market Expansion and Risk Management - The company plans to adjust its internal structure and implement differentiated market layouts across the country, enhancing project information sources and optimizing cooperation models [3] - The company will strengthen accounts receivable collection, expand financing channels, and optimize financing structures to reduce financial costs [3] - The company is also addressing potential challenges such as industry policy changes, talent shortages, and management risks through business model adjustments and governance optimization [3]

Core Viewpoint - The water treatment membrane industry in China is experiencing significant growth, driven by increasing demand for wastewater treatment and seawater desalination, supported by government policies and technological advancements [1][6][13]. Industry Overview - Water treatment membranes are selective separation materials used for purifying and concentrating wastewater without the need for chemical additives [4]. - The market size of China's water treatment membrane industry is projected to grow from 26.9 billion yuan in 2019 to 45.6 billion yuan by 2024, indicating strong downstream market demand [1][13]. - The industry is categorized into various types of membranes, including microfiltration, ultrafiltration, nanofiltration, and reverse osmosis, with reverse osmosis holding a 45% market share [15][17]. Market Dynamics - The demand for water treatment membranes is increasing due to urbanization, industrialization, and the rising need for wastewater treatment and recycled water production [1][13]. - The number and scale of seawater desalination projects are also contributing to the growing demand for water treatment membranes [1][13]. Competitive Landscape - The Chinese water treatment membrane market is characterized by a domestic-led structure, with domestic companies holding 78% of the market share, while foreign and joint ventures account for 10% and 12%, respectively [19]. - Key domestic players include Beijing OriginWater Technology Co., Ltd., Waton Technology Co., Ltd., Tianjin Membrane Technology Co., Ltd., and others [19][20]. Policy Support - The Chinese government has implemented various policies to support the development of the water treatment membrane industry, including the "Action Plan for Seawater Desalination Utilization (2021-2025)" and other initiatives aimed at enhancing wastewater treatment technologies [6][8][26]. - These policies are designed to promote technological advancements and increase the application of high-performance membrane materials [6][26]. Future Trends - The industry is expected to see continuous technological innovation, with new materials and manufacturing processes emerging, such as nano-porous membranes and organic/inorganic composite membranes [25]. - The demand for water treatment membranes is anticipated to grow in emerging sectors like photovoltaic and lithium battery industries, which require high-purity water for production processes [27].

Group 1: Business Expansion and Performance - The company achieved overseas business revenue of 26.804 million yuan in 2024, representing a 41.20% increase compared to the same period in 2023 [3] - The overseas market expansion has successfully entered multiple countries, including Europe, Singapore, Brazil, Colombia, Malaysia, and Vietnam [3] - The company plans to enhance its overseas sales and service network by collaborating with local enterprises and understanding market demands [3] Group 2: Technological Applications and Innovations - The company is actively exploring membrane technology applications in emerging sectors, including the new energy industry, to expand its business boundaries [2] - In the circular economy sector, the company has established a presence in the lithium battery industry, focusing on upstream cathode material production processes and associated wastewater treatment [4] - The company is engaged in technical collaborations with leading industry players for projects related to electrolyte recovery, waste acid treatment, and precious metal recovery, with most projects currently in the planning stage [4] Group 3: Strategic Responses to Market Conditions - The impact of Sino-U.S. trade tensions on the company is limited, as the revenue from U.S. operations constitutes a very small percentage of total income [3] - The company has implemented strategic stockpiling and is developing domestic alternatives for raw materials sourced from the U.S. to mitigate potential risks [3] - The company will closely monitor international political and economic changes to adjust its strategies accordingly [3]

Core Insights -碧水源 has been a leader in membrane technology for water treatment and environmental protection since its listing in April 2010, with a focus on innovation and green low-carbon initiatives [1] - The company has faced significant financial volatility over the past five years, with a notable decline in revenue and net profit in 2024 [2] - The market capitalization of碧水源 has decreased by over 26% from its initial value, reflecting challenges in profitability and increasing liabilities [4] Business Overview -碧水源 specializes in membrane technology research and development, wastewater treatment, and seawater desalination, with products like MBR membranes and reverse osmosis membranes used in various sectors [1] - The company is expanding its international presence, particularly in Southeast Asia and Africa, and has received recognition for its seawater desalination and industrial wastewater treatment projects [1] Financial Performance - In 2024,碧水源 reported revenue of 8.549 billion yuan, a year-on-year decrease of 4.51%, and a net profit of 58.58 million yuan, down 92.34% year-on-year [2] - The fluctuations in revenue and profit are attributed to changes in the macroeconomic environment and losses from key equity investments, particularly in Yunnan Water [2] - Accounts receivable increased significantly from 9.548 billion yuan at the end of 2022 to 12.4 billion yuan, indicating pressure on cash flow [2] Market Position -碧水源's market capitalization has fallen from 22.315 billion yuan at the time of listing to 16.091 billion yuan currently, highlighting the impact of declining profits, rising debt, and increasing accounts receivable [4] - Despite its strong technical advantages and market position in the environmental protection industry,碧水源 faces intensified competition and pressure in the global market [4]