上述违规担保发生于2023年12月至2024年1月，彼时正值科净源登陆创业板不久，却出现业绩大幅下 滑。其子公司为开拓山东市场水环境治理业务，未履行公司董事会、股东大会等相关审批决策程序，便 向第三方公司提供担保。至今，公司违规担保的阴影逐渐散去，但业绩压力犹存。 10月10日晚间，科净源（SZ301372，股价26.57元，市值18.22亿元）信披违规一案的处罚结果正式落 地。因未按规定及时披露案涉担保事项，中国证监会北京监管局对公司给予警告，并处以150万元的罚 款；包括时任总经理在内的3名责任人员合计被罚款150万元。 未及时披露1.5亿元担保事项 2023年，科净源实现营收3.02亿元，同比下降31.30%；归母净利润为1940.25万元，同比下降77.53%。 这样的成绩对一家刚刚上市的公司来说难言亮眼。业绩下滑的大背景是水环境治理行业投资节奏放缓， 市场供需出现严峻变化。此时，开拓新的市场尤为重要。 每经记者｜杨煜 每经编辑｜张海妮 自2024年4月科净源披露案涉担保情况至今，已过去一年半的时间。科净源实施了人员问责、加强培 训、夯实制度等一系列举措。随着此次行政处罚落地，公司信披违规一案随之尘埃 ...

转自：推广 月满中秋，辉映九州。当皎洁的月光洒向天府大地，那些平日里雄伟刚毅的超级工程也被蒙上一层温柔 的滤镜，今夜，让我们循着月光，共赏那刚柔并济的浪漫图景，看四川国企如何谱写"中秋之歌"。 四川发展（控股）有限责任公司 蜀道投资集团有限责任公司 9月26日 ，由蜀道集团川高公司主导投资、公路设计院公司设计、四川路桥交建集团参建的G8513线九 寨沟—绵阳高速公路正式全线通车，全线长245公里。 从成都至九寨沟的车程由原来的8小时大幅缩短至4小时左右，极大改善区域交通条件，有力促进大九寨 旅游环线的繁荣发展，对推动区域经济协同发展、助力乡村振兴带来积极而深远的影响。关键性控制工 程"白马隧道"历经9年攻坚方才磨成一剑，沿线生态富集，是全省唯一一条交通运输部绿色公路典型示 范项目，也是一条真正的生态之路。 四川能源发展集团有限责任公司 北京清新环境技术股份有限公司（简称：清新环境）旗下深水咨询实施的深圳市茅洲河干流上游段管养 项目是全国首个大型城市水环境综合治理项目。 该项目作为国家级生态治理标杆与省级水利示范工程，荣膺"全国首批美丽河湖优秀案例""广东省第二 批省级水利风景区"等殊荣。 通过开创性实践"水务 ...

今日晚间， 多瑞医药（301075.SZ）、中环环保（300692.SZ）、亚太药业（002370.SZ）三家A股上市公司相继发布公告，宣布因控股 股东及实际控制人正在筹划控制权变更事项，公司股票将自9月29日起停牌。 多瑞医药在今日公告中称，控股股东西藏嘉康时代科技发展有限公司、实际控制人邓勇先生正在筹划公司控制权变更相关事宜，该事项可能 导致公司控股股东、实际控制人发生变更。 中环环保主要业务为市政工程项目，包括市政污水、工业废水处理、黑臭水体、湿地治理等水环境治理，以及垃圾焚烧发电、城乡垃圾资源 化处理、危废无害化处置、污泥资源化处理等。 上半年，中环环保公司营业总收入为4.74亿元，同比增长4.84%，归母净利润为4409.10万元，同比增长9.69%。2022年，公司以出资 1200万美元方式投资美国Proof公司，切入氢燃料电池领域。 不过，该公司在本月的调研纪要中披露，因美国外国投资委员会（CFIUS）启动了对公司投资事项的主动审查，已与公司签订相关协议，将 电池技术从Proof公司剥离，公司不能投资该电池技术及相关产品，但仍可继续参与催化加热器技术投资及产品商业化。目前合作建厂未有 新进展。 ...

在主论坛环节，中国工程院院士徐祖信等七位专家，分别就人工湿地关键技术、"十五五"治理方向、美 丽乡村建设路径、西北地区资源化利用模式等议题作主旨报告，为村镇水环境治理提供理论支撑与实践 参考。 在"新形势下村镇水环境治理未来方向与路径"热点讨论环节，与会专家围绕绿色发展与生态价值协同、 分散式污水处理项目的长效运维、设备标准化与智能化等核心议题展开深度对话，为行业创新与可持续 发展注入新思路。 善水博通（宁夏）环境科技有限公司相关负责人表示，本次论坛不仅搭建了高效交流平台，更明确了行 业未来发展方向，将为推动技术创新与产业协同注入新动能。 据悉，本次论坛为期3天，除主论坛外，还设置村镇高品质供水分论坛，并围绕城乡水生态治理、"产学 研"协同走出去、垃圾与厕所治理等主题开展50余场专题报告，系统展示前沿技术成果与实践案例，助 力我国村镇水环境治理事业迈向新台阶。 （完） 中新网宁夏新闻9月25日电（记者 于晶）25日，第14届中国农村和小城镇水环境治理论坛在银川开幕。 作为首次落地西部地区的全国性村镇水环境治理盛会，本届论坛汇聚了来自全国各地的300余位专家学 者、企业代表及行业主管部门领导，共同围绕村镇水环境 ...

坚持上下游同治。安义县主动与潦河上游的宜春市奉新县、靖安县和潦河下游的九江市永修县建立上下 游联防联控治理机制，并签订潦河流域上下游横向生态保护补偿协议，三方建立了信息共享机制、领导 定期交流机制、上下游水环境污染突发事件应急机制等。协议签订后，与奉新生态环境局共同开展应急 演练，包括及时开展水环境监测、调度人员和物资、做好信息发布等应急项目，提升潦河水环境同治水 平。 坚持水面与水岸同治。一是开展排污口排查治理。制定《安义县推进入河排口排查整治工作实施方 案》，聘请第三方技术团队对辖区内潦河排污口开展排查、监测、溯源，更新入河排口清单，建立依法 取缔、清理合并、规范整治清单，按照"一口一策"制定细化整治方案，并绘制了入河排口脉络图。二是 制定《安义县河湖长考核细则》，压实县、乡、村三级河（湖）长职责和相关部门"管发展必须抓环 保、管生产必须抓环保、管行业必须抓环保"职责；落实"月统计、季通报"制度，2024年县级河长巡河 44人次，乡级河长巡河426人次，村级河长巡河4734人次，对发现的82个问题及时现场调度、现场督 办，已整改到位67个，剩下15个正在整改，有效解决了"四乱"（乱占、乱采、乱堆、乱建）等 ...

Group 1: Company Strategy and Goals - The company aims for "steady, sustainable, and high-quality development" as its core strategy, focusing on optimizing growth and strengthening existing operations [2][5] - Plans to invest in advanced technology sectors such as energy conservation, environmental protection, new energy, new materials, and artificial intelligence to foster new growth points [2][5] Group 2: Financial Performance and Shareholder Returns - The company intends to ensure that the cumulative cash dividends over three years exceed 30% of the average net profit from the last three years [3] - In 2025, the company plans to increase cash collection from accounts receivable, expecting improvements due to local government debt resolution policies [5] Group 3: Collaborations and Partnerships - The company is involved in a partnership with Proof, focusing on catalytic heating technology, although investment in battery technology has been restricted due to regulatory reviews [3][4] - The collaboration aims to leverage Proof's advanced hydrogen energy battery technology for commercialization, despite current limitations [4] Group 4: Asset Management and Financial Health - The company reported an asset impairment provision of over 17 million in the first half of 2025, with ongoing assessments based on accounting policies [5] - The company is actively managing increasing accounts receivable and has established a dedicated collection team to address this issue [5]

Core Viewpoint - Shenzhen has achieved significant progress in ecological environment protection over the past decade, completing 100% of its rectification tasks on time, which has become a driving force for high-quality development in the city [2][3][4]. Group 1: Political Commitment and Governance - The Shenzhen municipal government emphasizes that ecological environment protection is a mandatory task, with the mayor and party secretary leading the efforts [3]. - A high-level ecological environment protection committee has been established to oversee and implement rectification tasks, ensuring accountability across various government levels [3]. - The city has created a responsibility transmission system, breaking down 14 rectification tasks into 38 specific measures, assigning clear responsibilities to city departments and district leaders [3][4]. Group 2: Technological Innovation - Shenzhen is utilizing satellite remote sensing technology to proactively identify ecological issues, enhancing the efficiency of problem detection by 3 to 5 times compared to traditional methods [5][6]. - The integration of remote sensing and deep learning algorithms allows for real-time monitoring and verification of rectification efforts, preventing false rectifications [5][6]. Group 3: Environmental Management Achievements - The city has successfully addressed 36 tasks and 838 cases from the first round of central environmental protection inspections, with ongoing progress in the second round [4]. - Shenzhen has achieved a 100% waste disposal rate for household waste, with a recycling rate exceeding 49% and a daily harmless treatment capacity of 32,000 tons [8]. - Water quality management has resulted in a 100% excellent rate for surface water quality, with significant improvements in river and coastal water bodies [9]. Group 4: Economic Development and Green Initiatives - The city's air quality index (AQI) compliance rate reached 95.5%, with PM2.5 levels dropping to 16 micrograms per cubic meter, positioning Shenzhen as a leader among large cities [10]. - Shenzhen has initiated various climate financing projects, with a total financing amount of 29.4 billion yuan, and has become a national model for carbon market transactions [10]. - The proportion of clean energy installations has exceeded 80%, and the penetration rate of new energy vehicles has reached 76.9% [10]. Group 5: Ecological Space and Urban Development - The establishment of the International Mangrove Center and the implementation of ecological corridor projects have enhanced urban ecological networks [11]. - The number of parks in Shenzhen has increased significantly, contributing to a more sustainable urban environment [11]. - The city aims to continue improving its ecological environment while promoting economic development, demonstrating that ecological protection and economic growth are not mutually exclusive [11].

Core Viewpoint - The article highlights the successful transformation of the polluted Xinxu River in Nanning, Guangxi, into a clean and beautiful waterway, benefiting the local population and enhancing the urban environment [1][3]. Group 1: Environmental Improvement - The Xinxu River, previously a severely polluted waterway, has undergone significant ecological restoration through dredging, silt removal, and landscape greening projects [3]. - Nanning has a total of 18 urban rivers, many of which, like the Nankao River and Shajiang River, have also been successfully rehabilitated into vibrant ecological corridors [3]. Group 2: Urban Management and Regulations - Nanning has established regulations for the protection and management of urban rivers and lakes to prevent pollution and encroachment, including the implementation of various local laws [3][4]. - The city has developed a collaborative mechanism involving river and lake management officials and law enforcement to address key environmental issues through legal means [4]. Group 3: Investment and Project Development - The city has initiated a black and odorous water body treatment project with a total investment of nearly 160 million yuan, of which approximately 120 million yuan has already been invested [4]. - Ongoing projects are expected to further improve the urban ecological environment and enhance the quality of life for residents, increasing their sense of well-being and happiness [4]. Group 4: Monitoring and Future Plans - Nanning has conducted over 110,000 inspections of 13 urban rivers since 2024 and has engaged third-party monitoring for monthly water quality analysis [4]. - Future plans include comprehensive management of additional urban rivers to create more ecologically vibrant areas, meeting the growing demand for a beautiful ecological environment among residents [4].

Core Insights - The company, Huaji Environmental Protection, reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 172 million yuan, a year-on-year increase of 66.23%, and a net profit of 4.43 million yuan, up 139.22% [1][2] Financial Performance - Total revenue for Q2 was 96.69 million yuan, reflecting a 49.51% year-on-year increase, while net profit for the same period was 2.82 million yuan, up 220.66% [1] - The gross margin improved by 6.84% year-on-year, reaching 30.87%, and the net margin increased by 119.53% to 2.44% [1] - Total expenses (sales, management, and financial) amounted to 36.38 million yuan, accounting for 21.2% of revenue, a decrease of 39.51% year-on-year [1] Cash Flow and Investment - Operating cash flow per share was 0.03 yuan, an increase of 117.63% year-on-year, while earnings per share also rose to 0.03 yuan, up 133.33% [1] - The net cash flow from operating activities increased by 117.63% due to higher sales collections [4] - The net cash flow from investing activities decreased by 49.73% due to increased financial management activities [5] - The net cash flow from financing activities fell by 70.39% as a result of reduced minority shareholder investments [6] - The net increase in cash and cash equivalents rose by 42.65% due to improved operating cash flow [7] Cost and Revenue Drivers - The increase in operating revenue by 66.23% was primarily driven by a rise in water environment governance projects [2] - Operating costs increased by 58.99%, also attributed to the growth in water environment governance projects [3] - Sales expenses decreased by 32.86% due to reduced salaries and promotional expenses for sales personnel [3] Historical Performance and Recommendations - The company has shown a historical median ROIC of 7.79%, with a notably poor ROIC of -1.58% in 2024, indicating average investment returns [9] - The company has had one loss-making year since its listing, suggesting the need for careful analysis of underlying factors [9] - Recommendations include monitoring cash flow status, debt levels, financial expenses, and accounts receivable due to historical performance concerns [10]

Revenue and Profitability - The company reported a total revenue of 149 million yuan for the first half of 2025, an increase of 24.3% year-on-year [1] - The net profit attributable to shareholders reached 12.83 million yuan, up 137.45% year-on-year, while the net profit excluding non-recurring items was 6.44 million yuan, an increase of 118.7% [1] - In the second quarter, total revenue was 84.35 million yuan, a decrease of 5.65% year-on-year, but net profit increased by 110.97% to 1.59 million yuan [2] Main Business Composition - The main revenue sources are water treatment products, project operation services, and comprehensive water environment governance solutions, with project operation services generating the highest revenue of 51.85 million yuan, accounting for 34.71% of total revenue [3] - Water treatment products contributed 53.23 million yuan, representing 35.63% of total revenue [3] Financial Health - Cash flow remains a concern, with cash and cash equivalents at 84.77 million yuan, down 52.85% year-on-year due to increased loan repayments [4] - Interest-bearing debt stands at 216 million yuan, a decrease of 8.69% year-on-year, but the structure has shifted to short-term liabilities, increasing repayment pressure [5] Cost Control - The ratio of selling, administrative, and financial expenses to revenue is 22.13%, a decrease of 33.36% year-on-year, indicating effective cost control [6] Profitability and Efficiency - The gross margin is 25.13%, up 13.54% year-on-year, and the net margin is 8.54%, an increase of 129.93% [7] - Earnings per share rose to 0.19 yuan, a 138% increase year-on-year, while operating cash flow per share increased by 122.06% to 0.38 yuan [8] Industry Background and Development Prospects - The domestic water environment governance market is expected to exceed 670.1 billion yuan in 2025, growing by 18% year-on-year, with the company holding a competitive edge in technology and brand [10] - The company is actively expanding into overseas markets as domestic competition intensifies, aiming for more opportunities internationally [11] Conclusion - Overall, the company achieved significant performance improvement in the first half of 2025, particularly in profitability, but cash flow and debt structure require further optimization for long-term stability [12]