Investment Rating - The report maintains a "Buy" rating for the company [2][6]. Core Views - The company plans to issue up to 800 million shares to return to A-share market, which is expected to enhance long-term value [6]. - The issuance is anticipated to have limited dilution on profits, as the company’s operational business is steadily growing, and financial costs are being optimized [6]. - The company has turned positive in free cash flow since 2024, with expectations for continued improvement [6]. - The dividend policy remains stable, with a proposed mid-term dividend of 0.15 HKD per share for 2025, reflecting a dividend payout ratio of 42% [6]. - The A-share issuance is expected to optimize the company's capital structure and improve its valuation in the long term [6]. - The report forecasts net profit attributable to ordinary shareholders for 2025-2027 at 3.589 billion, 3.810 billion, and 4.055 billion HKD, respectively, with corresponding PE ratios of 8, 8, and 7 [6]. Financial Data and Profit Forecast - Revenue projections for 2023 to 2027 are as follows: 32,090 million, 30,258 million, 29,976 million, 30,938 million, and 31,954 million HKD, with a decline in growth rates from -14.02% in 2023 to 3.28% in 2027 [3][7]. - Net profit attributable to ordinary shareholders is projected to decrease from 4,429 million HKD in 2023 to 3,377 million HKD in 2024, before recovering to 4,055 million HKD by 2027 [3][7]. - The company’s return on equity (ROE) is expected to gradually improve from 9.20% in 2023 to 7.35% in 2027 [3][7].

（记者 王晓波） 截至发稿，韩建河山市值为24亿元。 每经头条（nbdtoutiao）——展望"十五五"|专访财科院院长杨志勇：遏制地方政府新增隐性债务，债务 信息要透明，尽可能降低利息成本 每经AI快讯，韩建河山（SH 603616，收盘价：6.14元）11月14日晚间发布公告称，公司第五届第一次 董事会临时会议于2025年11月14日以现场结合通讯方式召开。会议审议了《关于聘任公司董事会秘书的 议案》等文件。 2024年1至12月份，韩建河山的营业收入构成为：建材占比77.76%，环保行业占比21.96%，其他业务占 比0.28%。 ...

Group 1 - The company announced the resignation of Ms. Qin Kun as the board secretary due to personal reasons, and Mr. Zhang Zijie has been appointed as the new board secretary [1] - For the first half of 2025, the company's revenue composition is 100.0% from the environmental protection industry [1] - The current market capitalization of the company is 5.9 billion yuan [1]

每经头条（nbdtoutiao）——展望"十五五"|专访财科院院长杨志勇：遏制地方政府新增隐性债务，债务 信息要透明，尽可能降低利息成本 （记者 王瀚黎） 截至发稿，永兴股份市值为150亿元。 每经AI快讯，永兴股份（SH 601033，收盘价：16.65元）11月14日晚间发布公告称，科学城投资集团在 遵守有关法律法规及承诺的前提下，出于满足企业自身发展资金需求，拟通过集中竞价的方式减持所持 有的部分公司股票，减持数量不超过900万股，即减持比例不超过公司总股本的1%。减持期间为本计划 披露之日起15个交易日后的3个月内，减持价格根据减持时的市场价格确定。 2024年1至12月份，永兴股份的营业收入构成为：环保行业占比98.57%，其他业务占比1.43%。 ...

Core Viewpoint - Huanxin Environmental (301265.SZ) announced its first share repurchase on November 14, 2025, through centralized bidding, indicating a commitment to enhancing shareholder value [1] Summary by Categories Share Repurchase Details - The company repurchased a total of 32,100 shares, which represents 0.0106% of its current total share capital [1] - The lowest transaction price was 11.74 CNY per share, while the highest was 11.76 CNY per share [1] - The total amount spent on the repurchase was 377,350 CNY, excluding transaction fees [1] Compliance and Regulations - The repurchase price did not exceed the upper limit of 17.24 CNY per share as outlined in the company's repurchase plan [1] - The repurchase is in accordance with the company's share repurchase plan and relevant laws and regulations [1]

Group 1 - The core point of the article is that E Fund Management Co., Ltd. has increased its stake in Green Power Environmental (01330.HK) by purchasing 934,000 shares at an average price of HKD 5.68 per share, resulting in a total investment of approximately HKD 5.3051 million [1] - After the purchase, E Fund's total shareholding in Green Power Environmental increased to 24.706 million shares, raising its ownership percentage from 5.88% to 6.11% [1][2]

Core Viewpoint - The company, Peiran Environmental (08320), anticipates a turnaround from loss to profit, projecting a profit of approximately 1 million HKD for the six months ending September 30, 2025, compared to a loss of about 5.9 million HKD for the same period ending September 30, 2024 [1] Financial Performance - The expected profit turnaround is primarily attributed to an increase in revenue and an improvement in gross margin [1] - The company is experiencing business growth and an increase in operational income from markets outside Hong Kong, including mainland China, Macau, and Southeast Asia [1] - Implementation of more effective cost control measures has led to a reduction in administrative expenses [1]

沛然环保(08320)发布公告，集团预期于截至2025年9月30日止6个月取得本公司拥有人应占溢利约100万 港元，将实现转亏为盈，而相比截至2024年9月30日止6个月则取得本公司拥有人应占亏损约590万港 元。预期转亏为盈主要归因于收益增加及毛利率上升、业务增长及来自中国香港以外其他市场(包括中 国内地、中国澳门和东南亚)的营运收入增加及因实施更有效成本控制措施，令行政开支减少。 ...

Group 1 - The company Fida Environmental announced that approximately 152 million restricted shares will be unlocked and listed for trading on November 17, 2025, accounting for 17.14% of the total share capital [1] - For the year 2024, the revenue composition of Fida Environmental is as follows: 77.03% from the environmental protection industry, 18.43% from wastewater treatment, 2.23% from construction services, 1.64% from other industries, and 0.67% from other businesses [1] - As of the report date, the market capitalization of Fida Environmental is 5.1 billion yuan [1]

Group 1 - The core point of the article is that Boschke (SZ 300422) announced the convening of its seventh board meeting on November 10, 2025, to discuss the revised proposal for issuing stocks to specific targets for the year 2025 [1] - For the first half of 2025, Boschke's revenue composition is entirely from the environmental protection industry, accounting for 100.0% [1] - As of the time of reporting, Boschke's market capitalization is 2.8 billion yuan [1]