（文章来源：证券日报） 证券日报网讯重庆水务11月18日在互动平台回答投资者提问时表示，公司采取"托管运营+股权/资产转 让"方式开展供水业务专业化整合，将原水投集团供水资产通过市场化方式整合至公司。按照专业化、 市场化、法治化的思路以及"成熟一家、推动一家"的总体原则，先注入盈利能力较好的优质资产，剩余 资产成熟后再注入，最终实现经营性资产的整体注入。 ...

证券日报网讯兴蓉环境（000598）11月18日在互动平台回答投资者提问时表示，公司积极开展应收账款 催收工作，不同地区的财政支付能力有所差异，整体来看预计全年回款周期较为稳定。应收账款相关情 况可参见公司定期报告。 ...

格隆汇11月18日丨舜禹股份(301519.SZ)公布，基于公司战略规划及未来经营发展的需要，公司拟使用 自有资金2,000万元人民币，在海南设立全资子公司"海南舜禹水务智算低碳有限公司"（暂定名，最终 名称以登记注册结果为准）；公司拟使用自有资金1,100万港元，在香港设立全资子公司"舜禹水务（香 港）智算有限公司"（暂定名，最终名称以登记注册结果为准）。 ...

联合水务（603291）(603291.SH)发布公告，公司股东上海衡联为公司首次公开发行并上市前设立的员 工持股平台，基于公司已退休离任多年的员工自身资金需求，拟通过集中竞价方式减持公司股份不超过 58.25万股，占公司总股本的0.1376%，将于减持公告披露之日起15个交易日后的三个月内进行。 ...

Core Viewpoint - The company plans to establish two wholly-owned subsidiaries, one in Hainan and another in Hong Kong, using its own funds totaling 31 million RMB and 11 million HKD respectively [1] Group 1: Subsidiary Establishment - The company intends to invest 20 million RMB to set up "Hainan Shunyu Water Intelligent Low Carbon Co., Ltd." in Hainan [1] - The company plans to allocate 11 million HKD to establish "Shunyu Water (Hong Kong) Intelligent Co., Ltd." in Hong Kong [1]

智通财经APP讯，舜禹股份(301519.SZ)公告，公司拟使用自有资金2000万元人民币，在海南设立全资子 公司"海南舜禹水务智算低碳有限公司";公司拟使用自有资金1100万港元，在香港设立全资子公司"舜禹 水务(香港)智算有限公司"。 ...

每经头条（nbdtoutiao）——段睿：我与蔡磊是 "找钥匙的人"，纵使生前寻不到，也要为其他渐冻症患 者铺就近路 （记者 曾健辉） 每经AI快讯，舜禹股份（SZ 301519，收盘价：15.3元）11月18日晚间发布公告称，基于公司战略规划 及未来经营发展的需要，公司拟使用自有资金2000万元人民币，在海南设立全资子公司"海南舜禹水务 智算低碳有限公司"；公司拟使用自有资金1100万港元，在香港设立全资子公司"舜禹水务（香港）智算 有限公司"。 2025年1至6月份，舜禹股份的营业收入构成为：污水处理占比50.28%，二次供水占比48.99%，其他业 务占比0.72%。 截至发稿，舜禹股份市值为25亿元。 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [4] Core Viewpoints - The report highlights significant profit growth in waste incineration power generation companies, with cash flow further improving. Major companies like Junxin Co. (+47.6%), Hanlan Environment (+28.1%), and Yongxing Co. (+25.6%) reported substantial increases in net profit for Q3 2025 [5][10] - The report indicates that the profitability of water companies shows significant differentiation, with some companies like Chuangye Environmental and Shouchuang Environmental experiencing declines in net profit, while others like Hongcheng Environment and Chongqing Water reported growth [7][24] - In the biofuel sector, companies experienced substantial profit growth due to rising prices and increased sales volumes, particularly in UCO and SAF [28][39] Summary by Sections 1. Municipal Environmental Protection - Waste incineration power generation companies saw significant profit increases, with cash flow improving. Key reasons include project expansions, increased waste processing volumes, and enhanced project profitability through heat supply [5][10][12] - Water companies displayed profit differentiation, with notable declines in net profit for Chuangye Environmental and Shouchuang Environmental, while others like Hongcheng Environment and Chongqing Water showed growth [7][24] 2. Biofuels - Major biofuel companies reported significant profit growth in Q3 2025, driven by rising UCO and SAF prices. UCO export prices increased by 16.7%-22.2%, while SAF prices surged by 42.16% [28][39] - Companies like Shanhai Environmental and Langkun Technology turned losses into profits, with Shanhai achieving a net profit of 0.1 billion yuan in Q3 2025, compared to a loss of 0.2 billion yuan in the same period last year [35][39]

Core Viewpoint - The company plans to list on the A-share market to expand its business and optimize its capital structure, with significant cash flow improvement expected starting in 2024 due to accelerated subsidy recovery and cost reduction measures [1][2]. Group 1: A-Share Listing and Fundraising - The company intends to issue up to 800 million shares, representing no more than 11.52% of the post-issue share capital, and list on the Shenzhen Stock Exchange. The raised funds will be used for business development and general working capital [1]. Group 2: Cash Flow Improvement - The company is projected to achieve a free cash flow of approximately 4 billion yuan in 2024, marking its first positive cash flow since 2003. By the first half of 2025, operational and financial income is expected to account for 87% of main revenue, a 10 percentage point increase year-on-year [2]. Group 3: Cost Reduction and Profitability - The environmental energy segment is expected to contribute 2.567 billion HKD (+12%) to group profit in the first half of 2025, driven by cost reduction measures and improved core operational metrics. The water segment is projected to contribute 409 million HKD (-4%), while the green environmental segment is expected to see a significant profit increase of 30% [3]. Group 4: Profit Forecast and Valuation - The company maintains profit forecasts of 3.337 billion, 3.564 billion, and 3.831 billion HKD for 2025-2027, with year-on-year growth rates of -1%, 7%, and 7% respectively. The current stock price corresponds to P/E ratios of 9.1x, 8.5x, and 7.9x, with a maintained "buy" rating [4].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並表明概不就因本公告之全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 第一太平有限公司 （根據百慕達法例註冊成立之有限公司） （股份代號：00142） 網址：www.firstpacific.com METRO PACIFIC INVESTMENTS CORPORATION 有關其截至2025年9月30日止9個月之 未經審核綜合財務業績之自願新聞稿 概要 MPIC已於2025年11月17日刊發自願新聞稿，其載有關於其截至2025年9月30日止 9個月之未經審核綜合財務業績的財務資料。 第一太平有限公司（「第一太平」或「本公司」）發表本公告，以自願向第一太平之股 東及公眾提供有關第一太平集團於2025年9月30日擁有約49.9%經濟權益之公司 Metro Pacific Investments Corporation（「MPIC」）截至2025年9月30日止9個月之未經 審核綜合財務業績之相關資料。 誠如本公司日期為2023年8月7日的通函及本公司日期為2023年9月8日、9月 ...