证券日报网讯华新环保（301265）11月26日在互动平台回答投资者提问时表示，截至11月20日，公司股 东人数为17099户。 ...

证券日报网讯津膜科技（300334）11月25日在互动平台回答投资者提问时表示，截至2025年11月20日， 公司的股东人数为16，839户。 ...

新加坡外交部兼内政部高级政务部长、国会议员沈颖女士，新加坡驻华大使馆副馆长、公使衔参赞周溯理女士，深圳市南山区副区长蔡淡宏先生，祥峰中国 创始管理合伙人郑俊聪先生，淡马锡基金会董事郭书实先生，淡马锡基金会董事Zuraidah Abdullah女士，淡马锡基金会执行董事兼首席执行长黄文雄先生， 能源基金会首席执行官兼中国区总裁邹骥先生，联合国开发计划署可持续发展目标影响力指导委员会委员、社会价值投资联盟（深圳）主席、理事长马蔚华 先生，红杉中国投资合伙人、红杉碳中和研究院院长李俊峰先生，味全集团董事长室特别助理吕学君先生，一带一路环境技术交流与转移中心（深圳）、上 海市经济和信息化委员会、深圳市前海金融发展局等相关部门领导，以及政府部门、企业、行业协会、金融机构、科创平台、学术机构、非营利组织代表等 500余人出席活动，见证这一重要时刻。 主办方嘉宾合影 挑战赛由祥峰投资中国基金（以下简称"祥峰中国"）和淡马锡基金会共同主办，旨在发掘技术创新、商业可行的优质项目，助力全球可持续发展目标的实 现。本届挑战赛聚焦工业脱碳、能源转型、绿色农业、降污减排四大赛道，自4月23日启动以来，共征集到来自全球约70多个国家及地 ...

1、纳指大涨2.69%，特斯拉、谷歌涨超6%，中国指数涨2.82%； 2、特朗普：已接受邀请明年4月访华； 3、WTI 1月原油期货收涨1.34%，现货黄金涨1.8%； 4、美联储12月降息25个基点的概率升至八成； 5、美联储沃勒：我主张在12月降息； 6、美联储戴利：就业市场可能突然恶化 支持在12月降息； 7、高盛首席经济学家：预计美联储将于12月降息； 8、德银：明年标普500指数目标位上看8000点； 9、美国银行：黄金价格2026年或将达到5000美元 10、美国9月PCE报告将改期至12月5日晚上10点发布； 11、特朗普下令启动"创世使命" 计划 大力推动AI科研革命； 12、亚马逊豪掷500亿美元，扩建美国政府AI算力； 13、德国总理：本周乌克兰谈判不会取得突破； 11、公告精选︱广电计量：拟投资建设广电计量西南(成都)检测基地；工业富联：未向市场下调第四季 度利润目标； 12、A股投资避雷针︱东方海洋：股东国元基金拟减持不超过3%股份；东江环保：子公司收到税务行 政处罚决定书。 格隆汇11月25日｜国际要闻： 大中华区要闻： 1、央行：11月25日开展10000亿元MLF操作； 2、标普 ...

Core Viewpoint - Dongjiang Environmental (00895) has received a tax administrative penalty from the Xiamen Municipal Taxation Bureau for tax evasion related to the purchase of used home appliances, resulting in a fine of RMB 202.42 million [1] Group 1: Tax Evasion Details - Xiamen Oasis, a wholly-owned subsidiary of Dongjiang Environmental, acquired 350 VAT invoices from a third party, resulting in a tax deduction of RMB 3.8556 million and an understated business cost of RMB 22.6802 million, leading to tax underpayment [1] - The tax evasion occurred between September and October 2015, with the company being penalized under Article 63 of the Tax Collection and Administration Law of the People's Republic of China [1] Group 2: Penalty and Company Response - The penalty for the tax evasion is set at 0.5 times the amount of tax evaded, totaling RMB 202.42 million [1] - Following the change of control to Guangdong Guangsheng Holding Group in October 2016, the company has been conducting self-inspections and improving internal management to prevent future occurrences of such issues [1] - The company aims to address historical issues legally and enhance communication with administrative bodies while strengthening the understanding of relevant laws and regulations [1]

本次税务行政处罚涉及的违法违规事项发生于2015年10月之前，自2016年10月公司控股股东变更为广东 省广晟控股集团有限公司后，公司逐步自查并规范各项业务的内部管理，强化各个环节的责任意识。公 司将依法正确处理历史遗留问题，加强与行政机关的沟通及相关法律法规的学习，避免此类情况再次发 生。 格隆汇11月24日丨东江环保(002672.SZ)公布，全资子公司厦门绿洲环保产业有限公司（简称"厦门绿 洲"）于近日收到国家税务总局厦门市税务局第二稽查局下发的《税务行政处罚决定书》。厦门绿洲于 2015年9月-10月期间向个人销售方收购旧家电，取得销售方以外的第三方沭阳源丰再生资源有限公司开 具的增值税专用发票350份，认证抵扣税额3,855,625.86元，列支主营业务成本22,680,152.75元，造成少 缴税款的后果已构成偷税。依据《中华人民共和国税收征收管理法》第六十三条第一款，厦门绿洲在账 上少列收入造成少缴税款已构成偷税，对厦门绿洲偷税的行为处所偷税款0.5倍的罚款合计2,024,203.58 元。 ...

Investment Rating - The report maintains a positive outlook on the power and gas sectors, recommending various companies within these industries based on their performance and market conditions [2]. Core Insights - The report highlights a significant increase in electricity consumption in October, with a year-on-year growth of 10.4%, driven primarily by the tertiary sector and residential usage [5][10]. - Natural gas prices exhibit mixed trends globally, with U.S. prices rising while European prices are stabilizing [22][30]. - The report provides specific investment recommendations across various segments, including hydropower, green energy, nuclear power, thermal power, and gas [20][21]. Summary by Sections 1. Electricity Sector - In October, total electricity consumption reached 857.2 billion kWh, marking a 10.4% increase year-on-year. The first, second, and third industries, along with residential consumption, saw growth rates of 13.2%, 6.2%, 17.1%, and 23.9%, respectively [12][10]. - The tertiary sector's electricity consumption grew the fastest, particularly in internet data services related to big data and AI, which surged by 46% [11]. - The report notes that the second industry contributes over 60% of total electricity consumption, with high-tech and equipment manufacturing showing significant growth [11][12]. 2. Gas Sector - As of November 21, U.S. Henry Hub spot prices were $4.13/mmBtu, reflecting an 18.33% weekly increase, while European gas prices showed slight declines [22][30]. - The report indicates that U.S. natural gas supply remains robust, with a notable increase in LNG demand, contributing to rising prices [24][25]. - Recommendations include focusing on integrated gas companies and those benefiting from cost reductions and increased sales, such as Kunlun Energy and New Hope Energy [44]. 3. Weekly Market Review - The report notes that the public utility, gas, and power equipment sectors underperformed compared to the Shanghai and Shenzhen 300 index during the week of November 17 to November 21 [47]. 4. Company and Industry Dynamics - The report discusses the commissioning of China's highest-altitude wind power project in Tibet, which is expected to provide significant clean energy and economic benefits to the local community [50][53]. - It also highlights various local government initiatives aimed at promoting green electricity and renewable energy projects, including direct connections for green electricity [54][55].

每经记者｜李彪 每经编辑｜毕陆名 红极一时的环保行业，如今正遭遇资本严冬，彼时的高杠杆扩张，此时却成为了企业发展的绊脚石。 日前，在全国工商联环境商会举办的"2018中国环境产业高峰论坛"上，原本安排的第一个对话主题 是"产业的重任与担当——打赢污染防治攻坚战"，但是，对话嘉宾却将话题"引偏"了，直接谈起了环保 企业遭遇的融资困难、债务违约等问题，立即引发共鸣，整个分论坛的讨论主题也转向了环保企业融资 难等问题。 从PPP项目单体投资规模快速增大，到今年以来遭遇的融资难，再到债务到期无力偿还而出现债务违 约，围绕着现金流，形成了一系列的问题。《每日经济新闻》记者梳理发现，在2017年环保企业中标 PPP项目业绩排名的前15位中，至少有5家企业将在今年迎来一轮还债期。 多位环保业内人士告诉《每日经济新闻》记者，前期拿PPP项目比较"猛"的一些环保民营企业正面临巨 大的资金压力，在国家大力去杠杆，融资难度加大的背景下，一些企业已经与资金充裕的央企、国企洽 谈，计划变卖项目资产，甚至是公司股份。 行业现状 部分企业将迎来还债期 一度被认为是资本市场"宠儿"的环保行业，在环保龙头企业东方园林（002310，SZ）遭遇 ...

Group 1 - The recent adjustment in the A-share market saw the Shanghai Composite Index drop nearly 4% in a week, with the ChiNext Index falling over 6%, affecting more than 4,900 stocks [1][3] - External factors such as the cooling of interest rate cut expectations from the Federal Reserve, renewed debates over the AI bubble, and geopolitical tensions have contributed to the market downturn, impacting global risk assets [3] - Despite the market's decline, institutional investors have been actively buying, with over 70 billion yuan net inflow into stock ETFs in the past week, indicating confidence among smart money [3] Group 2 - Current valuation of the Shanghai Composite Index is around 13.6 times, approaching a "reasonable" level, suggesting that further declines could present buying opportunities [3] - Market sentiment indicators have dropped to yearly lows, and the financing guarantee ratio has returned to early August levels, indicating that panic selling may have subsided [3] - Long-term investors are advised to focus on undervalued assets, particularly in sectors like domestic computing power, innovative pharmaceuticals, and industries benefiting from supply-demand improvements due to "anti-involution" policies [4] Group 3 - Companies that can leverage China's manufacturing advantages for global pricing power are expected to thrive, with predictions that 2026 will be a significant year for Chinese enterprises going global [4] - High-dividend assets are recommended as a stabilizing force in a volatile market, with attention on cyclical dividends (coal, chemicals) and potential dividends (railways, environmental protection) [4] - Analysts predict a "low volatility slow bull" market for A-shares in 2026, with Goldman Sachs estimating a 30% upside for the Chinese stock market by 2027 [4]

证券研究报告|行业定期报告 2025 年 11 月 23 日 证券研究报告 | 行业定期报告 2025 年 11 月 23 日 10 月用电量增速全面提升至 10.4%，创年内新高 环保公用事业行业周报（2025/11/23） 周期/环保及公用事业 本周环保与公用事业板块均有下跌。环保（申万）行业指数下跌 6.02%，公用 事业（申万）行业指数下跌 4.33%，相对市场整体跌幅较大。 推荐（维持） | | | 占比% | | --- | --- | --- | | 股票家数（只） | 242 | 4.7 | | 总市值（十亿元） | 3985.6 | 3.9 | | 流通市值（十亿元） | 3690.7 | 4.0 | 行业指数 % 1m 6m 12m 绝对表现 2.1 16.0 18.3 相对表现 5.4 2.2 6.7 资料来源：公司数据、招商证券 -20 -10 0 10 20 30 Nov/24 Mar/25 Jul/25 Oct/25 (%) 环保及公用事业 沪深300 相关报告 1 、《环保公用事业行业周报 （20251116）：火电发电量由降转增， 水电电量保持较高增长》2025-11-17 2 ...