Core Viewpoint - The announcement details the completion of the first vesting period for the 2023 restricted stock incentive plan of Qingdao Danuo Environmental Equipment Co., Ltd, with 1,155,000 shares set to be listed on August 8, 2025 [1][2][11]. Summary by Sections Stock Listing and Vesting Details - The total number of shares listed for circulation is 1,155,000 [2]. - The shares will be available for trading starting from August 8, 2025 [2]. - The decision-making process for the stock vesting was approved during the board meeting on October 31, 2023 [2][3]. Decision-Making Process - The board and supervisory committee approved the incentive plan and its related proposals during meetings held on October 31, 2023, and November 20, 2023 [3][6]. - The independent directors provided their consent for the proposals related to the incentive plan [3][6]. Vesting Conditions and Shareholder Approval - The plan was publicly disclosed, and no objections were raised during the internal announcement period [4]. - The shareholders approved the incentive plan during the extraordinary general meeting on November 16, 2023 [4]. Stock Source and Distribution - The shares for the incentive plan were issued as ordinary A-shares to the incentive recipients [7]. - A total of 45 individuals are included in the list of recipients for the stock vesting [7]. Impact on Share Capital and Financials - Following the vesting, the total share capital of the company increased from 123,071,000 shares to 124,226,000 shares [10]. - The newly vested shares represent approximately 0.94% of the total shares before the vesting, which is not expected to significantly impact the company's financial performance [12]. Verification and Registration - The company received a verification report confirming the completion of the share registration process for the incentive plan [11]. - The total funds received from the incentive recipients amounted to RMB 10,672,200, contributing to an increase in registered capital [10].

证券代码：688501 证券简称：青达环保 公告编号：2025-035 青岛达能环保设备股份有限公司 关于 2023 年限制性股票激励计划第一个归属期 归属结果暨股票上市公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ? 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 本次股票上市流通总数为1,155,000股。 ? 本次股票上市流通日期为2025 年 8 月 8 日。 <2023 年限制性股票激励计划实施考核管理办法>的议案》 《关于提请股东大会授权 董事会办理公司 2023 年限制性股票激励计划相关事宜的议案》等议案。公司独立 董事对相关议案发表了同意的独立意见。 同日，公司召开第四届监事会第十五次会议，审议通过了《关于公司<2023 年 限制性股票激励计划（草案）>及其摘要的议案》 《关于公司<2023 年限制性股票激 励计划实施考核管理办法>的议案》和《关于核实公司<2023 年限制性股票激励计 划激励对象名单>的议案》，公司监事会对本激励计划的相关事项进行核实并出具 了相关核 ...

Investment Rating - The report assigns an "Accumulate" rating for the company for the first time [1] Core Views - The company is actively expanding its diversified business segments to reduce reliance on a single business, with significant growth in its photovoltaic products and end-of-pipe pollution control equipment [12][13] - The company is positioned as a leader in the process pollution control equipment sector, benefiting from strong technical barriers and a diverse customer base across multiple industries [28] - The company is enhancing its cost advantages through the establishment of advanced solar cell production capacity and innovative carbon capture technologies [30][29] - The financial forecast indicates a recovery in net profit from a loss in 2024 to positive figures in 2025-2027, with expected net profits of 0.22 billion, 1.53 billion, and 2.55 billion respectively [31][32] Summary by Sections Business Diversification - The company is reducing its dependence on process pollution control equipment, which accounted for 54.31% of revenue in 2024, down from 94.42% the previous year. The end-of-pipe pollution control equipment revenue grew by 47.49% year-on-year [12][13] - Revenue from photovoltaic products reached 6.44 billion in 2024, making up 31.35% of total revenue, indicating rapid growth in this segment [12][13] Technical Leadership and Market Position - The company holds 262 patents, including 60 invention patents, and has established itself as a leader in the process pollution control equipment market, particularly in the photovoltaic sector [28] - The diverse customer base across industries such as semiconductor, fine chemicals, automotive, metallurgy, and construction helps mitigate risks associated with industry concentration [28] Cost Management and Production Capacity - The company is building a high-efficiency solar cell production base with advanced automation, achieving a cell conversion efficiency of ≥26.5% and a bifacial rate of ≥80% [29] - The adoption of the TOPCon technology is expected to enhance efficiency and reduce production costs significantly [29] Financial Forecast - The company anticipates a recovery in profitability, with net profit projections of 0.22 billion in 2025, 1.53 billion in 2026, and 2.55 billion in 2027, reflecting a significant turnaround from a loss of 0.77 billion in 2024 [31][32]

Group 1 - The environmental equipment sector increased by 0.5% on August 4, with Meiyetech leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] - Meiyetech's stock price rose by 11.41% to 48.35, with a trading volume of 44,600 shares and a transaction value of 208 million yuan [1] Group 2 - The environmental equipment sector saw a net outflow of 64.14 million yuan from institutional investors, while retail investors had a net inflow of 73.96 million yuan [2] - The trading data for various stocks in the environmental equipment sector showed mixed performance, with some stocks experiencing declines [2] - Meiyetech had a net inflow of 21.05 million yuan from institutional investors, while retail investors showed a net outflow of 18.22 million yuan [3]

Group 1 - The company has approved a share repurchase plan with a total amount not less than RMB 200 million and not exceeding RMB 300 million, with a repurchase price cap of RMB 9.25 per share [1] - The repurchase period is set for 12 months from the date of board approval [1] - The repurchased shares will be used for employee stock ownership plans or equity incentives [1] Group 2 - The maximum repurchase price has been adjusted to RMB 9.06 per share effective from July 28, 2025 [2] - As of July 31, 2025, the company has not yet repurchased any shares through the designated trading account [2] - The company has signed a loan agreement with China Construction Bank for the share repurchase [2]

Core Viewpoint - The environmental equipment sector experienced a rise of 1.33% on August 1, with Hengyu Environmental leading the gains, while the overall market indices showed a decline [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3559.95, down 0.37% [1]. - The Shenzhen Component Index closed at 10991.32, down 0.17% [1]. - The environmental equipment sector's individual stock performance is detailed in the provided table, highlighting significant gainers such as Hengyu Environmental, which rose by 5.45% [1]. Group 2: Stock Performance Details - Hengyu Environmental (60338889) closed at 22.45 with a gain of 5.45% and a trading volume of 24,000 shares, amounting to a transaction value of approximately 53.1 million yuan [1]. - Other notable gainers include Bixing Wulian (688671) with a 5.38% increase, Qingda Environmental (688501) up by 5.37%, and Yingfeng Environment (000967) rising by 3.02% [1]. - The table also lists stocks with declines, such as Meai Technology (688376) which fell by 4.24% [2]. Group 3: Capital Flow Analysis - The environmental equipment sector saw a net inflow of 63.16 million yuan from main funds, while retail investors experienced a net outflow of 17.41 million yuan [2][3]. - The detailed capital flow for individual stocks indicates that Jiuwu High-Tech (300631) had a main fund net inflow of approximately 47.28 million yuan, while Yingfeng Environment (000967) saw a net inflow of 35.03 million yuan [3]. - Conversely, Jiuwu High-Tech experienced a significant outflow from retail investors, totaling approximately 53.64 million yuan [3].

Core Viewpoint - The company, Ruichen Environmental Protection, is committed to ongoing research and development investments to enhance product technology and applications, particularly through the use of AI chips for data analysis and fault warning systems [1] Group 1: R&D and Technology - The company plans to integrate AI chips into its products for smart air supply and intelligent maintenance [1] - The focus is on creating an intelligent and efficient control system by combining high-efficiency motors with products like water pumps and fans [1] - The AI chips primarily used in the company's equipment are developed by its subsidiary, Langyang Technology, although their current market share is relatively small [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000890 | 法尔胜 | 3.86 | -2.53% | 17.08万 | 6692.07万 | | 603282 | 亚米股份 | 18.44 | -2.38% | 8.56万 | 1.58 Z | | 688671 | 碧兴物联 | 22.13 | -2.30% | 9296.2 | 2077.87万 | | 301030 | 仕浄科技 | 18.05 | -2.27% | 6.84万 | 1.25亿 | | 600526 | 菲达环保 | 4.81 | -2.04% | 10.57万 | 5128.71万 | | 300631 | 久吾高科 | 30.65 | -1.95% | 8.21万 | 2.53亿 | | 300800 | 力合科技 | 11.56 | -1.95% | 2.89万 | 3374.41万 | | 300203 | 聚光科技 | 19.09 | -1.70% | 11.33万 | 2.19亿 | | 300105 | ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 688600 | 皖仪科技 | 23.62 | 2.70% | 5.50万 | 1.30亿 | | 300786 | 国林科技 | 15.39 | 0.39% | 8.23万 | 1.26亿 | | 688309 | 恒营环保 | 21.52 | 0.37% | 1.41万 | 3031.25万 | | 600817 | 字通車丁 | 12.40 | 0.16% | 3.27万 | 4045.55万 | | 301288 | *ST清研 | 13.47 | 0.15% | 1.08万 | 1455.93万 | | 688501 | 青达环保 | 26.13 | -0.08% | 1.45万 | 3783.32万 | | 300800 | 力合科技 | 11.79 | -0.17% | 2.95万 | 3468.30万 | | 688671 | 碧兴物联 | 22.65 | -0.22% | 6216.58 | 1405.49万 | | 001336 ...

Core Insights - Daphne Technology focuses on methane reduction technology using non-thermal plasma (NTP) and methane oxidation catalysts (MOC) to effectively reduce methane emissions from industrial and maritime gas engines [7][8] - The company has developed plug-and-play conversion purification equipment that can significantly decrease methane emissions, providing real-time emission data to enhance operational efficiency and regulatory compliance [7][8] Company Overview - Founded in 2017, Daphne Technology is a spin-off from the École Polytechnique Fédérale de Lausanne, established by Mario Michan, who holds a PhD in Physics from the University of British Columbia [2] - The company has received investments from major players such as Shell Ventures and Saudi Aramco Energy Ventures, and has subsidiaries in Norway and the USA [9][10] Technology and Innovation - Daphne's technology can reduce methane emissions by up to 99% and is compatible with various engine types, including those with lower exhaust temperatures, without affecting engine performance [7][8] - The company’s software allows for real-time monitoring of greenhouse gas emissions, achieving high accuracy in measuring CO2 and methane emissions [9] Market Position and Recognition - Daphne Technology was listed in the 2024 TOP100 Swiss Startups, highlighting its status as one of the most innovative and market-potential companies in Switzerland [12] - The company has received multiple awards and recognitions, including the Horizon 2020 EU funding and the Swiss Environment Department Award [9][12] Financial Milestones - Daphne completed a Series B funding round in October 2021, raising a total of 17 million Swiss Francs, and has secured additional funding from the U.S. Department of Energy's Methane Emission Reduction Program [10]