Core Insights - The stock of Beijing BWS Technology Co., Ltd. (碧水源) experienced a decline of 1.37% on October 16, with a trading volume of 111 million yuan [1] - The company reported a financing buy-in of 21.06 million yuan and a net financing buy of 5.85 million yuan on the same day [1] - As of October 16, the total financing and securities lending balance for BWS was 819 million yuan, indicating a relatively low financing balance compared to the past year [1] Financing and Securities Lending - On October 16, BWS had a financing buy-in of 21.06 million yuan, with a financing balance of 812 million yuan, representing 5.17% of its market capitalization [1] - The financing balance is below the 50th percentile level over the past year, indicating a low position [1] - In terms of securities lending, BWS repaid 47,600 shares and sold 42,000 shares on October 16, with a selling amount of 181,900 yuan [1] - The remaining securities lending volume was 1.78 million shares, with a securities lending balance of 7.72 million yuan, which is above the 90th percentile level over the past year, indicating a high position [1] Company Overview - BWS was established on July 17, 2001, and listed on April 21, 2010, with its headquarters located in Haidian District, Beijing [1] - The company's main business involves wastewater treatment and resource recovery technology development and application [1] - The revenue composition of BWS is 87.71% from the environmental protection industry (water treatment and ecology) and 12.29% from the municipal industry (municipal water supply and drainage, photonics) [1] Shareholder Information - As of September 20, BWS had 75,900 shareholders, an increase of 0.21% from the previous period [2] - The average number of circulating shares per shareholder decreased by 0.21% to 44,427 shares [2] - For the first half of 2025, BWS reported a revenue of 2.93 billion yuan, a year-on-year decrease of 15.09%, and a net profit attributable to shareholders of -107 million yuan, a decrease of 47.25% year-on-year [2] Dividend Information - Since its A-share listing, BWS has distributed a total of 1.777 billion yuan in dividends, with 279 million yuan distributed over the past three years [2] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders of BWS included E Fund's ChiNext ETF, which held 52.67 million shares, a decrease of 711,400 shares from the previous period [2] - Southern CSI 500 ETF held 32.44 million shares, an increase of 4.475 million shares from the previous period [2] - Hong Kong Central Clearing Limited was the seventh largest circulating shareholder, holding 31.26 million shares, an increase of 361,370 shares from the previous period [2]

Core Viewpoint - Kangda Environmental (06136) has entered into a financing lease agreement with Guangdong Green Financial Leasing Co., Ltd. for a total consideration of RMB 50 million, involving the acquisition and leaseback of wastewater treatment equipment and facilities located in Weifang, Shandong Province, China [1] Group 1 - The leasing agreement is established between Weifang Kangda Environmental Water Co., Ltd., a wholly-owned subsidiary of the company, and the lessor Guangdong Green Financial Leasing Co., Ltd. [1] - The total consideration for the acquisition of the assets is RMB 50 million [1] - The lease term is set for 72 months, starting from the date of payment for the consideration [1]

Core Viewpoint - Kangda Environmental (06136.HK) has entered into a financing lease agreement with Guangdong Green Financial Leasing Co., Ltd., involving a total consideration of RMB 50 million for the acquisition and leaseback of wastewater treatment assets in Weifang, Shandong Province [1] Group 1: Financing Lease Agreement - The lease agreement is set for a duration of 72 months, starting from the payment date of the total consideration [1] - The assets involved in the agreement include multiple wastewater treatment facilities located in Weifang, Shandong Province [1]

Company Overview - 中节能国祯环保科技股份有限公司 is located in Hefei, Anhui Province, established on February 25, 1997, and listed on August 1, 2014 [1] - The company specializes in wastewater treatment investment and operation, environmental engineering EPC services, and the production and sale of wastewater treatment equipment [1] - Revenue composition: Water operation services 72.64%, Environmental engineering construction services 24.30%, Environmental equipment sales and services 2.60%, Others 0.45% [1] Stock Performance - On October 16, the stock price of 中节能国祯 dropped by 5.22%, trading at 9.81 CNY per share, with a total transaction volume of 84.23 million CNY and a turnover rate of 1.23% [1] - The total market capitalization of the company is 6.681 billion CNY [1] Major Shareholders - 大成基金 has a fund, 大成景恒混合A (090019), which entered the top ten circulating shareholders in the second quarter, holding 1.5936 million shares, accounting for 0.23% of circulating shares [2] - The estimated floating loss for 大成景恒混合A today is approximately 860,500 CNY [2] Fund Performance - 大成景恒混合A (090019) was established on June 15, 2012, with a latest scale of 397 million CNY [2] - Year-to-date return is 39.54%, ranking 1746 out of 8161 in its category; one-year return is 63.45%, ranking 538 out of 8021; since inception return is 368.55% [2] Fund Management - The fund manager of 大成景恒混合A is 苏秉毅, who has a cumulative tenure of 13 years and 254 days [3] - The total asset size of the fund is 1.24 billion CNY, with the best fund return during the tenure being 243.01% and the worst being -71.74% [3]

Group 1 - The opening of the Shenyang-Baihe High-Speed Railway marks a significant milestone in China's high-speed rail development, showcasing the advanced technology and manufacturing capabilities of the CRRC Changchun Railway Vehicles Co., Ltd [13][14] - The CR450 train model, which features a new aerodynamic design and stringent lightweight requirements, presents challenges in electrical wiring and assembly, highlighting the need for innovation in manufacturing processes [14][15] - The successful completion of the CR450's wiring layout involved the use of a three-dimensional electrical model and innovative techniques, ensuring optimal functionality and safety [15] Group 2 - The establishment of a craftsman studio at the State Grid Chongqing Electric Power Company aims to cultivate skilled workers in the field of network security, emphasizing the importance of knowledge sharing and mentorship [17] - The studio's leader has successfully mitigated over 1 billion yuan in potential financial losses through proactive measures in network security, demonstrating the critical role of technology in modern power systems [16][17] Group 3 - The Longrong Machinery Equipment Manufacturing Co., Ltd. in Gansu has focused on foundational skills and innovation, leading to significant improvements in equipment maintenance and operational efficiency [18][19] - The company has developed a mobile self-circulating thermal oil heating unit, which has received national patent recognition, showcasing its commitment to technological advancement [19] Group 4 - The Tianyuan Construction Group has achieved national recognition for its innovative construction techniques, particularly in complex projects like the Huawei Big Data Center [21][23] - The establishment of an innovation studio named after a leading worker has led to multiple national patents and improved construction efficiency, reinforcing the value of craftsmanship in the industry [23] Group 5 - The construction of the Guangzhou Baiyun International Airport's T3 terminal involved advanced techniques such as BIM reverse modeling to ensure precision in the assembly of complex structures [24][25] - The "Deng Yongji Youth Commando Team" has been recognized for its contributions to major construction projects, highlighting the importance of youth engagement in the industry [26] Group 6 - The emergence of wastewater treatment as a competitive skill in national competitions reflects the industry's shift towards modernization and technological integration [27][28] - The recent competition showcased the need for precision in operations, with strict standards for equipment calibration and chemical dosing, emphasizing the importance of skilled labor in environmental protection [28]

Group 1: Tax Incentives for Waste Management Projects - Taxpayers engaged in municipal waste classification and harmless treatment projects can enjoy a three-year exemption from corporate income tax, followed by a 50% reduction for the next three years starting from the first year of revenue generation [3][4][6]. - The projects must involve the classification, storage, transportation, and treatment of urban and rural household waste, excluding landfill disposal [4][7]. - The projects must meet national or local pollutant discharge standards and pass relevant inspections [4][7]. Group 2: Tax Incentives for Rural Sewage Treatment Projects - Taxpayers involved in rural sewage treatment projects can also benefit from a similar tax incentive structure, with a three-year exemption from corporate income tax and a 50% reduction for the subsequent three years [6][8]. - The rural sewage treatment projects include the treatment and resource utilization of rural domestic sewage, livestock waste, and the remediation of polluted rural water bodies [7][8]. - Compliance with pollutant discharge standards and successful project inspections are required for eligibility [7][8].

Group 1 - The article discusses tax incentives aimed at promoting the development of rural characteristic industries and the circular economy in agriculture [1][4] - Tax exemptions are provided for specific services related to waste and sewage treatment, including a 70% VAT refund policy for eligible taxpayers engaged in resource utilization [1][2] - The policy allows taxpayers to choose between a VAT refund or exemption, with specific conditions outlined for eligibility [2] Group 2 - The article highlights that sewage treatment fees collected by water supply companies on behalf of government authorities are exempt from VAT [4] - The exemption applies only when the sewage treatment fees are collected alongside water fees, under the delegation of government departments [4] - The policy is based on regulations from the Ministry of Finance and the State Administration of Taxation [4]

本报记者 蒙婷婷 在成都市金堂县节能大道16号的现代化绿色工厂内，智能机械臂正精准地进行磁盘焊接作业，焊花犹如 金色流萤般跃动；与此同时，技术工人正对特殊规格的非标件进行精细化加工。生产车间里，整齐码放 的原材料静待投入生产线，而成品库区已完成密封包装的系列环保设备"整齐列队"以待发车。 中建环能科技股份有限公司（以下简称"中建环能"）工作人员向《证券日报》记者介绍，该工厂是公司 西部装备制造基地，承担着公司大部分环保产品的制造和装配任务，每年有包括超磁分离水体净化设 备、磁介质混凝沉淀一体化设备、稀土磁盘分离净化设备等超过100台（套）具有自主知识产权的环保 设备从该厂区发往全国。 近日，《证券日报》记者深入中建环能调研了解到，作为中国建筑集团有限公司旗下环保上市平台，该 公司以创新技术赋能水环境治理，持续贡献行业领先的生态解决方案。"十四五"期间，该公司"苦练内 功"，以技术创新为驱动力，完善研发项目全生命周期管理，创新成果实现爆发式增长。 全链条技术体系筑牢护城河 位于成都市武侯区武兴一路3号的中建环能总部内，有一栋外观略显陈旧的建筑——公司研发中心大 楼，它见证了中建环能诸多研发成果从构思到落地的每一 ...

Core Viewpoint - The company,节能国祯, is recognized for its long-term investment value and stable future development, prompting a major shareholder to announce plans for significant stock purchases to bolster investor confidence and protect the interests of small investors [1]. Group 1: Shareholder Actions - 安徽省生态环境产业集团有限公司, a major shareholder, plans to increase its stake in 节能国祯 by purchasing at least 2% of the company's total issued shares (approximately 13.62 million shares) within six months from the announcement date [1]. - The purchases will be made using the shareholder's own or raised funds through the Shenzhen Stock Exchange [1]. Group 2: Financial Performance - For the year 2024, 节能国祯's revenue composition is heavily weighted towards wastewater treatment, which accounts for 99.71% of total revenue, while other business segments contribute only 0.29% [1]. - As of the report, 节能国祯 has a market capitalization of 7 billion yuan [1].

Core Insights - The article highlights the significant ecological and water management improvements in the Chaobai River area of Beijing's Shunyi District, emphasizing the successful implementation of a comprehensive water governance strategy over the past decade [1][4]. Group 1: Water Source Management - Since 2015, Beijing has been diverting water from the South-to-North Water Diversion Project to replenish the water sources in Miyun, Huairou, and Shunyi, with a total of approximately 340 million cubic meters replenished by 2020 [2]. - The Chaobai River, which had been dry for 22 years, was fully restored and connected on May 29, 2021, following a series of ecological water replenishment efforts [2]. - From 2022 to 2024, Shunyi District implemented ecological water replenishment measures totaling over 300 million cubic meters, leading to a gradual recovery of groundwater levels [2]. Group 2: Water Quality Improvement - Shunyi District has achieved historical improvements in water quality through comprehensive measures such as pollution control, ecological restoration, and the construction of new sewage treatment facilities [3]. - The district's sewage treatment capacity has reached 424,000 cubic meters per day, with rural sewage treatment rates increasing from 77.6% in 2020 to 93.8% by 2024 [3]. - By 2024, six national and municipal monitoring sections in Shunyi are expected to achieve a 100% rate of good water quality, with no sections classified as inferior [4]. Group 3: Ecological Restoration and Biodiversity - The ecological environment along the Chaobai River has improved significantly, with the introduction of various fish species and the restoration of biodiversity, including the presence of 22 fish species and an increase in bird populations [5]. - The launch of the "Chaobai River No. 1" ferry service in August 2024 allows citizens to enjoy the scenic beauty of the river and its surrounding parks, promoting recreational activities [5]. Group 4: Future Initiatives - Shunyi District plans to continue its efforts in water protection and ecological restoration, aiming to enhance the beauty and health of its rivers and lakes [6].