Core Viewpoint - Maynilad Water Services, owned by prominent Chinese-Filipino businessman Consunji, has postponed its IPO timeline to the end of October to accommodate strategic cornerstone investors' internal approval processes [1][2]. Group 1: IPO Details - The IPO was initially scheduled for July 10 but was first postponed to July 17, and now further delayed by three months [1][2]. - The company has reduced its fundraising target from an initial 49 billion pesos to a maximum of 37.41 billion pesos [4]. - Maynilad plans to issue up to 1.93 billion primary shares and 354.7 million secondary shares, with a maximum price of 20 pesos per share [4]. - The IPO will also include an over-allotment option of 249 million shares and nearly 25 million shares for priority subscription, pending regulatory approval [4]. Group 2: Strategic Importance - The involvement of cornerstone investors is expected to enhance the value of the public offering and receive positive market and investor feedback [4]. - The company is actively preparing all necessary documents for the listing on the Philippine Stock Exchange (PSE) under the trading code "MYNLD" [4]. - The funds raised will be allocated for capital expenditures and general operational purposes [4]. Group 3: Background Information - The Consunji family, associated with Maynilad, is reportedly descendants of Confucius, with historical ties tracing back to the Ming Dynasty [5].

证券代码：601368 证券简称：绿城水务 公告编号：2025-018 广西绿城水务股份有限公司 关于召开2025年第一次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 召开的日期时间：2025 年 7 月 10 日14 点 30 分 召开地点：广西南宁市青秀区桂雅路 13 号绿城水务调度检测中心 1519 会议 室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 7 月 10 日 至2025 年 7 月 10 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者 的投票，应按照《上海证券交易所上 ...

Core Viewpoint - Guangxi Greentown Water Co., Ltd. plans to change its name, registered address, and business scope, cancel the supervisory board, and amend its articles of association to enhance corporate governance and better reflect its strategic development direction [1][2][3]. Group 1: Name and Address Change - The company will change its Chinese name from "Guangxi Greentown Water Co., Ltd." to "Guangxi Greentown Water Group Co., Ltd." and its English name accordingly [1][2]. - The registered address will be changed from "No. 4, Education Road, Nanning Overseas Chinese Investment Zone, Wuming District, Nanning City" to "No. 13, Guiya Road, Qingxiu District, Nanning City" [2]. Group 2: Business Scope Adjustment - The business scope will be adjusted to include water production and sales, construction and operation of water supply and drainage facilities, sewage treatment, and various technical services related to water management [6][7]. Group 3: Cancellation of Supervisory Board - The supervisory board will be abolished, and its functions will be transferred to the audit committee of the board of directors to improve corporate governance [2][3]. Group 4: Amendments to Articles of Association - Amendments to the articles of association will be made to reflect the changes in the company's name, governance structure, and business scope [1][3].

Group 1 - The company Zhongyuan Environmental Protection (000544) announced that its wholly-owned subsidiary Zhengzhou Sewage Purification Co., Ltd. signed a reclaimed water supply contract with Zhengzhou Water Group Co., Ltd. [1] - The contract price is set at 0.83 yuan per ton, with a daily supply limit of no more than 300,000 tons [1] - The contract duration is two years, and the settlement amount will be based on the actual supply days and volume [1] Group 2 - Zhengzhou Water Group, a wholly-owned subsidiary of the controlling shareholder of Zhongyuan Environmental Protection, constitutes a related party transaction [1] - For the year 2024, Zhengzhou Water Group is projected to achieve an operating revenue of 2.412 billion yuan, a net profit of 54.7639 million yuan, total assets of 22.333 billion yuan, and net assets of 11.289 billion yuan [1]

Group 1 - The core focus of the news is the implementation of safety production measures in the Chengdu Shuangliu water system, emphasizing the importance of safety training and awareness among employees [1][4][6] - A specialized training session on confined space operation safety management was held on March 12, featuring a national registered safety engineer who provided in-depth analysis of risks and preventive measures [1] - The Chengdu Hangdu Water Company conducted a fire safety training on June 11, highlighting common fire hazards and practical skills for using firefighting equipment [2] Group 2 - A safety production month training meeting was convened on June 12, attended by over 60 safety personnel from various departments and water treatment facilities, reinforcing the necessity of safety awareness and strict adherence to safety measures [4] - The series of activities aims to enhance safety awareness and emergency response capabilities among all personnel in the water system and related enterprises [6] - The Shuangliu District Water Bureau plans to leverage safety production month as an opportunity to strengthen safety management and establish a long-term safety mechanism for high-quality development in the water sector [6]

Group 1 - The company appointed Liu Jicheng as the vice president, effective from the date of the board meeting approval until the end of the current board's term [1][2] - Liu Jicheng does not hold any shares in the company and meets all qualifications to serve as a senior management personnel according to relevant laws and regulations [2] - Liu Jicheng has a background in water supply and drainage engineering and has held various positions within the company, including general manager and deputy general manager [2]

Core Viewpoint - The board of directors of Chongqing Water Group Co., Ltd. held its 16th meeting of the sixth session, where several key resolutions were passed regarding the appointment of senior management and adjustments to board committees [1][2]. Group 1: Board Resolutions - The board approved the appointment of Mr. Liu Jicheng as the vice general manager, effective from the date of the board meeting until the end of the current board's term [2]. - The board passed a resolution concerning the target-related matters of the management team, with 6 votes in favor and 0 against [2]. - The board approved adjustments to the members of its specialized committees, including the audit committee and the remuneration and assessment committee, with unanimous support [2].

证券研究报告 | 行业周报 gszqdatemark 2025 06 23 年 月 日 环保 监测门槛抬高，科创板专层赋能 环保监测准入趋严，科创板扩容助力，龙头享机遇。1、近日，国家市场监 管总局认可检测司与生态环境部生态环境监测司联合修订并对外发布《检 验检测机构资质认定生态环境监测机构评审补充要求（修订草案）》，环 境监测准入标准升级，新增 1 条、修订 19 条条款，严格人员资质、设备 防篡改及场所管理，抬高准入门槛以遏制数据造假与恶性竞争。政策促进 行业格局优化，头部企业受益，监测服务价格有望修复，推动行业向高质 量发展转型，利好碳监测等高端需求。建议关注聚光科技、雪迪龙、碧水 源等企业。2、近日，证监会设立科创板科创成长层，专项服务未盈利但具 技术突破性、高研发投入的科技企业。政策要求企业达标后调层、强制股 票加注"U"标识及强化风险披露，投资者需签署专项风险揭示书。该机 制显著利好技术型环保企业，破解膜材料、碳捕集、固废资源化等领域研 发周期长导致的融资困局，定向增资条款支持技术产业化，人工智能与低 碳技术倾斜政策加速行业升级。建议关注水务及水处理领域碧水源、首创 环保，环境监测领域聚光科技。 ...

中央纪委国家监委网站 赵震 "荆州市产业投资发展集团有限公司党委书记、董事长刘捷被开除党籍和公职，其涉嫌犯罪问题被移送 司法机关……"前不久，湖北省荆州市纪委监委运用"室组地企"联动机制，统筹办案力量，严肃查处了 一起国企领域腐败案件。 国企领域点多面广，监督难度大。荆州市纪检监察机关探索建立"室组地企"联动机制，监督检查室、审 查调查室、派驻（出）机构、地方纪委监委和国有企业纪委等协同发力，紧紧围绕工程建设、物资采 购、投资并购、信贷审批等腐败问题易发多发环节，定期排查梳理问题线索，严肃查处设租寻租、利益 输送、关联交易等违纪违法行为。 二十届中央纪委四次全会要求，着重抓好国有企业等权力集中、资金密集、资源富集领域系统整治。各 地纪委监委紧盯国有企业领域特点，统筹监督力量，发挥"室组地企"联合监督优势，严查不正之风和腐 败问题，坚决铲除腐败滋生土壤和条件，深化以案促改促治，推进清廉国企建设，保障国有企业健康稳 定发展。 国企纪检监察机构人员少、办案经验不足，面临取证难、定性难、突破难等现实困难。 为提高国企领域办案质效，山东省纪委监委驻省国资委纪检监察组结合《山东省纪委监委"室组地"联动 监督工作指引（试行 ...

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1]. Core Views - The report emphasizes the collaboration between Junxin Co. and Changsha Digital Group to promote the integration of waste incineration and green computing, enhancing operational efficiency and revenue growth [8]. - It highlights the trend of decreasing capital expenditures in the waste incineration sector, leading to improved free cash flow and increased dividends [12]. - The report discusses the stable growth and high dividends in the water utility sector, driven by water price reforms that reshape growth and valuation [16]. Summary by Sections Industry Trends - The environmental protection sector is experiencing a shift towards maturity, with capital expenditures declining and free cash flow turning positive in 2023, continuing to improve in 2024 [12][13]. - The report notes that the waste incineration sector is adopting new business models, including partnerships with data centers, which enhance profitability and return on equity (ROE) [14]. Key Recommendations - The report recommends several companies for investment, including Hai Luo Chuang Ye, Hanlan Environment, and Green Power, among others, based on their strong dividend potential and operational efficiency [4]. - It suggests focusing on companies with high dividend payout ratios and robust cash flow, such as Junxin Co. and Green Power, which are expected to maintain or increase their dividends significantly in 2024 [12][13]. Water Utility Sector - The water utility sector is projected to see stable growth, with a focus on water price reforms that enhance profitability and ensure reasonable returns on investment [18]. - The report highlights specific companies like Yuehai Investment and Xingrong Environment as key players benefiting from these reforms, with expected high dividend yields [18]. Environmental Equipment - The report notes a significant increase in the sales of new energy sanitation vehicles, with a year-on-year growth of 73% and an increase in market penetration [26][27]. - It emphasizes the importance of transitioning to electric sanitation vehicles as part of the industry's modernization efforts [22]. Biofuel and Lithium Battery Recycling - The report indicates a recovery in the profitability of biodiesel, with prices increasing by 7.1% week-on-week, leading to positive margins [36]. - It also discusses the challenges in lithium battery recycling, with declining metal prices impacting profitability, but notes slight improvements in margins [39][40].