编号：2025-007 证券代码：002255 证券简称：海陆重工 苏州海陆重工股份有限公司 投资者关系活动记录表 投资者关系活动类 别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 参与单位名称及人 员姓名 银华基金：罗婷、张珂、张伯伦 华泰证券：王龙钰、田莫充 时间 2025 年 11 月 26 日 10:00-11:00 地点 公司会议室 上市公司接待人员 姓名 董事会秘书张郭一 投资者关系活动主 要内容介绍 一、公司主营业务简单介绍 公司主营业务未发生变化，为工业余热锅炉、大型 及特种材质压力容器及核安全设备的制造销售；固废、 废水等污染物处理及回收利用的环境综合治理服务；光 伏电站运营。 二、核电业务介绍 公司核电设备供应堆型包括二代+堆型、三代堆型 （华龙一号、国和一号、AP1000、VVER、EPR）、四代 堆型（高温气冷堆、钠冷快堆、钍基熔盐堆）以及热核 聚变堆等国内外主要核电机型。 公司核安全设备包括：安注箱、堆内构件吊篮筒体、 堆内构件吊具、乏燃料冷却器、硼酸冷却器、冷凝液冷 却器、再生式热交换器、非能动余 ...

格隆汇11月25日丨节能铁汉(300197.SZ)公布，第五届董事会第三十次（临时）会议审议通过了《关于 2017年向不特定对象发行可转换公司债券募投项目结项、终止并将节余募集资金及前期已用于暂时补充 流动资金永久补充流动资金及注销相关募集资金专户的议案》，鉴于公司2017年向不特定对象发行可转 换公司债券募投项目（简称"可转债募投项目"）"临湘市长安文化创意园PPP项目"、"宁海县城市基础设 施PPP项目"、"五华县生态技工教育创业园PPP项目"已完工，"海口市滨江西带状公园二期（江滩部 分）PPP项目"已终止。公司拟将前述已完工可转债募投项目予以结项、前述尚未实施项目予以终止， 并拟将项目节余募集资金4,474,279.72元（含利息收入，具体金额以资金转出当日银行结算余额为准） 永久补充流动资金；前期已用于暂时补充流动资金530,485,668.89元不再归还至募集资金专户，直接永 久补充流动资金，均用于公司日常生产经营及业务发展。 ...

11月25日，钱江生化涨5.08%，截至发稿，报6.41元/股，成交5530.66万元，换手率2.84%，总市值55.55 亿元。 从基金十大重仓股角度 责任编辑：小浪快报 民生加银国证2000指数增强A（019814）基金经理为何江。 截至发稿，何江累计任职时间14年189天，现任基金资产总规模8.64亿元，任职期间最佳基金回报 57.31%， 任职期间最差基金回报-49.3%。 资料显示，浙江钱江生物化学股份有限公司位于浙江省海宁市海洲街道钱江西路178号钱江大厦，成立 日期1993年10月28日，上市日期1997年4月8日，公司主营业务涉及环保综合治理、生物制造及热电业 务。从事的主要业务包括环保工程业务、固废医废危废处置业务、污水处理业务及自来水制水业务。从 事植物生长调节剂、杀虫剂、杀菌剂为主的生物农药产品的研发、生产和销售。从事发电供热业务。主 营业务收入构成为：污水处理29.75%，工程施工21.08%，废弃物清运及处置19.04%，生物制品 18.06%，自来水供应6.70%，热电供应4.51%，其他(补充)0.49%，其他0.38%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发 ...

朋友们，今天这条消息看得我后背发凉！ 东珠生态 ，这个曾经风光无限的环保行业龙头，现在简直是 四面楚歌！ 11月24日， 东珠生态 突然公告：被 中国地质工程 集团一纸诉状告上法庭，连同汝南县住建局一起成了 被告，涉案金额高达5.52亿元！这可不是小数目，要知道，这家公司今年前三季度的总营收才2.58亿 元，连诉讼金额的一半都不到！ 看看这诉讼请求有多狠： 要求 东珠生态 支付工程款本金1.66亿元和1.91亿元 财务费用6577.7万元和7916.74万元 逾期付款财务费用683.5万元和1461.78万元 这简直就是要把 东珠生态 往死里整啊！ 但更可怕的是，这仅仅是冰山一角。公司承认，从去年7月到现在，还有16件未披露的诉讼仲裁案件， 累计涉案金额6.3亿元！这意味着什么？意味着 东珠生态 欠下的债，比它一年的收入还要多！ 翻开财报，触目惊心：2023年亏损3.15亿元，2024年亏损直接翻倍到6.3亿元！营收从原来的8亿多暴跌 到3.76亿元，降幅超过54.6%！这哪里是下滑，简直是自由落体！ 核心结论： 东珠生态 已经病入膏肓！ 最让我哭笑不得的是，就在这种生死存亡的关头， 东珠生态 竟然在谋划一场 ...

龙净环保 20251124 摘要 龙净环保储能业务 2025 年 1-9 月交付电芯总量 5.9GWh，铁锂电芯产 能利用率高，上半年扭亏为盈，三季度加速盈利，与亿纬锂能合作提升 生产良率，增强制造端竞争力。 龙净环保装备业务拓展矿山重卡、矿山装备和高空爬壁机器人等领域， 已实现对普天矿山重卡的交付，参股湖南创远和吉泰智能，有望成为未 来重要增长点。 增加的新项目，而海外水电站项目则因高电价实现单瓦盈利超预期。这些都增 强了市场对未来绿电项目单位盈利能力的信心。 龙净环保在储能业务和其他新兴领域有何进展？ 龙净环保在储能业务方面积极恢复，并取得显著进展。今年（2025 年），储 能业务迎来了良好的反转，公司整体利润从去年（2024 年）的相对承压变成 今年（2025 年）的较好盈利。此外，公司还在探索矿山新能源、矿山绿电以 及爬壁机器人等新兴领域应用。这些新兴领域的发展为公司未来三年的持续增 长提供了较高确定性。 如何评价龙净环保目前的估值水平？ 紫金矿业全额认购龙净环保 20 亿元定增，持股比例增至近 34%，强化 资金支持，加速业务赋能，尤其在绿电项目方面，为公司未来发展奠定 基础。 2025 年前三季度 ...

Mergers and Acquisitions - Kaizhong Co., Ltd. is planning to acquire control of Anhui Tuosheng Automotive Parts Co., Ltd. through a combination of issuing shares and cash payment, with funds raised from no more than 35 specific investors to be used entirely for the transaction [1] - Yingli Co., Ltd. intends to purchase 100% equity of Foshan Zhiqiang Optoelectronics Co., Ltd. for 66.497 million yuan to enter the supply chain of a North American brand [2] - Gaoneng Environment is set to jointly invest with related parties to acquire 45.2% equity in three mining companies for a total of 82.6 million yuan, with the transaction amount for equity transfer being 63.28 million yuan [3] Shareholding Changes - Fujirui's shareholder, Shanghai Zhaoren, plans to reduce its stake by up to 0.21%, equating to 160,500 shares, due to personal funding needs, with the reduction period set from November 27, 2025, to February 26, 2026 [4] - Zhaoyi Innovation's executives plan to collectively reduce their holdings by 249,000 shares, with specific reductions from various executives ranging from 3,060 to 63,800 shares [5] - Juneyao Airlines' controlling shareholder, Shanghai Juneyao Group, intends to reduce its stake by up to 3%, amounting to 65.52 million shares, due to business arrangements from December 15, 2025, to March 14, 2026 [6] Regulatory Issues - Jushi Chemical has been investigated by the China Securities Regulatory Commission for suspected violations of information disclosure, having received a notice of investigation on November 21, 2025 [7] - Haosai has also been investigated by the China Securities Regulatory Commission for similar information disclosure violations, with the company stating that its operations remain normal [8] - Guolian Aquatic Products received a warning letter from the Guangdong Securities Regulatory Bureau for failing to disclose non-operating fund occupation of 7.8 million yuan in a timely manner, which was only reported in the annual report on April 28, 2025 [9]

Core Viewpoint - The company, GaoNeng Environment (603588.SH), is expanding its business into the mining sector by acquiring stakes in three mining companies through a joint investment with individual investor Li Luxiang and related party Huaihua Yunfeng Mining Partnership [1] Group 1: Investment Details - The company plans to jointly invest in acquiring 59% stakes in Huaihua Tianxin Mining Co., Ltd. (Tianxin), Huaihua Yueping Mining Co., Ltd. (Yueping), and Huaihua Ruiyue Mining Co., Ltd. (Ruiyue) [1] - The total transaction amount for the stake acquisition is 82.6 million yuan [1] - After the transaction, the company will hold 45.2% stakes in each of the three companies, with a transaction amount of 63.28 million yuan [1] Group 2: Stake Distribution - Individual investor Li Luxiang will acquire 10% stakes in each of the three companies, with a transaction amount of 14 million yuan [1] - Related party Huaihua Yunfeng will acquire 3.8% stakes in each of the three companies, with a transaction amount of 5.32 million yuan [1]

Group 1 - The company Beijiete (300774.SZ) has approved the acquisition of a 55% stake in Wenshan Dahao Mining Development Co., Ltd. for a cash consideration of 224.8 million RMB [1] - The acquisition involves the assumption of Dahao Mining's total debt of 191.2813 million RMB, with Beijiete planning to handle 105.2047 million RMB of this debt through a loan [1] - Beijiete will provide a special loan to Dahao Mining at an annual interest rate of 6.5% for the construction of existing mining projects [1] Group 2 - Dahao Mining primarily holds antimony, tungsten, and lead-zinc ores, with antimony being widely used in various industrial applications [2] - Tungsten is considered a strategic resource essential for national defense and economic development, with demand driven by sectors such as automotive and aerospace [2] - The acquisition aligns with Beijiete's strategy to secure key raw material supplies and enhance the efficiency and resilience of its supply chain, contributing to the company's core competitiveness and sustainable development [2]

扣非归母净利润同比激增793.57%、32亿元布局10万吨钠电正极材料及6GWh电芯产能……2025年前三 季度，同兴科技以一份高光业绩答卷，印证了过去两年战略转型的深度成效。从"同兴环保"到"同兴科 技"的更名蝶变，这家低温烟气治理龙头以组织变革和运营效率提升破局，构建起"大气治理为核心， CCUS与钠电为双引擎"的"一体两翼"生态体系。 同兴科技董事长郑光明近日在接受中国证券报记者专访时表示，未来3-5年是公司战略转型的关键期。 公司将集中力量实现主营业务数字化、智能化升级，巩固全球低温烟气治理领先地位；力争成为全球领 先的碳捕集技术服务商；钠电业务实现产业化规模化。到2035年，成为全球减污降碳领域的引领者。 ● 本报记者 刘杨 组织变革驱动效率跃升 "'一体两翼'不是简单的业务叠加，而是深度融合的生态体系。"郑光明进一步解释，"一体"即大气污染 治理主营业务，是公司的生存之本和利润基石，为两大新业务提供资金、客户资源和运营经验；"两 翼"则是CCUS和钠离子电池业务，是公司重点培育的第二增长曲线。 "'两翼'中的CCUS业务是主营业务的自然延伸。"郑光明举例称，例如公司为钢铁企业提供烟气治理服 务时， ...

Group 1: Macroeconomic Outlook - The report anticipates a non-typical economic recovery in 2026, driven by confidence rebuilding and policy support, with a potential for profit improvement in the latter half of the year [9][10] - Key factors contributing to export resilience include fiscal expansion in developed economies, easing of US-China tariff conflicts, and improvements in China's industrial competitiveness [9] - The report emphasizes the importance of reform in driving economic benefits, suggesting that 2026 will mark a significant acceleration in reform efforts [9][10] Group 2: A-Share Market Strategy - The report outlines a two-phase bull market strategy, with 2025 characterized as "Bull Market 1.0" focused on technology, and 2026 potentially entering "Bull Market 2.0" with broader market participation [10][11] - It predicts that 2026 will see a rebound in profitability across the A-share market, with expected growth rates of 7% in 2025 and 14% in 2026 for net profits [10][11] - The transition from "Bull Market 1.0" to "Bull Market 2.0" is expected to be marked by a shift towards cyclical stocks and a resurgence in technology-driven sectors [10][11] Group 3: Bond Market Strategy - The bond market outlook for 2026 suggests a low-interest environment with ongoing asset allocation adjustments, although the attractiveness of bond assets may be limited [11][12] - The report highlights the importance of timing in duration strategies, with a focus on credit certainty as a key investment theme [12][13] - Potential risks include a shift towards a more bearish market due to inflationary pressures and fiscal policy changes [12][13] Group 4: Shipping and Shipbuilding Sector - The report indicates a positive outlook for the shipbuilding sector, driven by rising second-hand ship prices surpassing new build prices, signaling a potential supercycle [20][21] - Historical trends show that improvements in shipping market conditions typically lead to delayed increases in shipbuilding stock prices, suggesting a similar pattern may occur [20] - The report emphasizes the importance of monitoring oil tanker rental rates and their impact on shipbuilding market dynamics [20][21] Group 5: Environmental Sector - The environmental sector is expected to benefit from stable municipal environmental profits, improved cash flows, and adjustments in water pricing, highlighting opportunities in environmental assets [19][21] - The report suggests that the dual carbon goals and AI integration will drive growth in the environmental sector, with specific recommendations for companies involved in waste management and renewable energy [19][21] - The focus on municipal environmental projects is expected to enhance the attractiveness of certain stocks within the sector [19][21]