Core Insights - The analyst meeting held by Beijing Beishuiyuan Technology Co., Ltd. on September 26, 2025, revealed key information regarding the company's competitive advantages, internal controls, R&D effectiveness, and business collaboration [1] Competitive Advantages - The company possesses dual advantages in integrated membrane material R&D, equipment manufacturing, process application, and digital water management, with fully independent intellectual property rights across the entire membrane technology chain, covering microfiltration, ultrafiltration, nanofiltration, and reverse osmosis [2] - The company focuses on foundational research in membrane technology applications, driving continuous R&D investment and achieving significant breakthroughs in high-end membrane technology [2] - The operational scale of membrane technology in water treatment exceeds 22 million tons per day, with an annual addition of over 7 billion tons of high-quality reclaimed water, indicating potential for sustained revenue and profit growth [2] Accounts Receivable Management - As of the first half of the year, accounts receivable amounted to approximately 12.4 billion, primarily from early PPP projects, with expectations for a decrease in bad debt provisions in the future [3] - The company has implemented a toolbox for accounts receivable collection, establishing internal management processes and incentive mechanisms to enhance recovery efforts [3] - Active participation in government debt restructuring projects and improved communication with clients are part of the strategy to facilitate accounts receivable recovery [3] R&D Achievements - The company is committed to the "dual carbon" goals, focusing on foundational research in membrane technology and increasing R&D investment to achieve breakthroughs in high-end membrane technology [4] - Successful participation in the integrated seawater comprehensive utilization project in Huanghua City, combining photovoltaic and energy storage systems to achieve "green electricity for green water" [4] - Significant improvements in intelligent manufacturing capabilities, with a 25% cost reduction in self-developed V-MBR equipment and enhanced production speed for conventional reverse osmosis membranes [4] Collaboration with China Communications Construction Group - The collaboration with China Communications Construction Group enhances the environmental industry chain, leveraging the group's influence for synergistic effects [5] - Technical support from the water design research institute under China Communications Construction Group aids in the front-end design of membrane technology [5] - The partnership has led to reduced financing costs and improved capabilities in research, international business, and talent retention for the company [5]

9月25日，上海洗霸跌5.29%，截至发稿，报91.16元/股，成交4.54亿元，换手率2.79%，总市值159.97亿 元。 资料显示，上海洗霸科技股份有限公司位于上海市中山北一路1230号柏树大厦B区5楼，成立日期1994 年7月4日，上市日期2017年6月1日，公司主营业务涉及水处理技术整体解决方案服务。主营业务收入构 成为：化学品销售与服务40.89%，水处理系统运行管理31.82%，设备销售与安装23.05%，其他产品服 务3.28%，风管清洗0.74%，水处理设备集成0.23%。 数据显示，中航基金旗下1只基金重仓上海洗霸。中航新起航灵活配置混合A（005537）二季度增持 66.07万股，持有股数94.07万股，占基金净值比例为9.6%，位居第一大重仓股。根据测算，今日浮亏损 失约478.83万元。 中航新起航灵活配置混合A（005537）成立日期2018年4月23日，最新规模1992.38万。今年以来收益 96.61%，同类排名94/8173；近一年收益118.85%，同类排名283/8003；成立以来亏损4.78%。 中航新起航灵活配置混合A（005537）基金经理为韩浩。 截至发稿，韩浩累 ...

9月24日，上海洗霸涨5.05%，截至发稿，报97.38元/股，成交11.49亿元，换手率7.07%，总市值170.88 亿元。 资料显示，上海洗霸科技股份有限公司位于上海市中山北一路1230号柏树大厦B区5楼，成立日期1994 年7月4日，上市日期2017年6月1日，公司主营业务涉及水处理技术整体解决方案服务。主营业务收入构 成为：化学品销售与服务40.89%，水处理系统运行管理31.82%，设备销售与安装23.05%，其他产品服 务3.28%，风管清洗0.74%，水处理设备集成0.23%。 从基金十大重仓股角度 数据显示，中航基金旗下1只基金重仓上海洗霸。中航新起航灵活配置混合A（005537）二季度增持 66.07万股，持有股数94.07万股，占基金净值比例为9.6%，位居第一大重仓股。根据测算，今日浮盈赚 取约440.26万元。 中航新起航灵活配置混合A（005537）成立日期2018年4月23日，最新规模1992.38万。今年以来收益 88.6%，同类排名146/8173；近一年收益115.27%，同类排名374/7996；成立以来亏损8.66%。 责任编辑：小浪快报 中航新起航灵活配置混合A（00 ...

Group 1 - Shanghai Xiba's stock increased by 5.05%, reaching 97.38 CNY per share, with a trading volume of 1.149 billion CNY and a turnover rate of 7.07%, resulting in a total market capitalization of 17.088 billion CNY [1] - The company, established on July 4, 1994, and listed on June 1, 2017, specializes in comprehensive solutions for water treatment technology [1] - Revenue composition includes: 40.89% from chemical sales and services, 31.82% from water treatment system operation management, 23.05% from equipment sales and installation, 3.28% from other products and services, 0.74% from duct cleaning, and 0.23% from water treatment equipment integration [1] Group 2 - The fund managed by Huatai-PineBridge holds Shanghai Xiba as its top position, with 162,600 shares, accounting for 2.37% of the fund's net value, resulting in an estimated floating profit of approximately 761,000 CNY [2] - The Huatai-PineBridge Environmental Governance Index (LOF) A fund was established on December 29, 2016, with a current size of 208 million CNY, yielding a return of 17.54% this year, ranking 2750 out of 4220 in its category [2] - Over the past year, the fund achieved a return of 55.01%, ranking 1786 out of 3814, while it has experienced a cumulative loss of 43.05% since inception [2]

Core Viewpoint - The launch of "Water Radish AI Intelligent Body 1.0" by Jinko Environment represents a significant advancement in the integration of AI technology within the water treatment industry, aiming to enhance operational efficiency and reduce costs [1][3][4]. Group 1: Product and Technology - "Water Radish AI Intelligent Body 1.0" is an autonomous AI system designed to optimize water treatment processes, utilizing self-developed forecasting and decision-making models alongside various AI perception models [1]. - In pilot projects in Wuxi, the implementation of this AI system has resulted in a 90% reduction in manpower, a 50% decrease in equipment failure rates, a 15% reduction in chemical consumption, a 30% decrease in energy consumption, and an overall operational cost reduction of 35% [1]. Group 2: Strategic Vision and Goals - The company emphasizes the mission of achieving "water freedom" through resource optimization, AI digitization, and productization, aiming for sustainable and reliable water supply while minimizing pollution [3]. - The chairman articulated a triangular theory for successful water plant operations, which includes high-quality equipment, standardized design, and AI-driven management, addressing the shortcomings of traditional water treatment facilities [3]. Group 3: Industry Impact and Collaboration - The introduction of AI in the water treatment sector is expected to drive innovation and enhance the efficiency of industrial water systems, promoting a shift towards intelligent and green solutions [4]. - Jinko Environment has established a strategic partnership with Wuhan University to create an "Artificial Intelligence Innovation Research Center," focusing on integrating AI capabilities with industrial water treatment needs [4]. Group 4: Strategic Partnerships - During the launch event, Jinko Environment signed strategic agreements with various organizations to promote the application of "Water Radish AI Intelligent Body" both domestically and internationally [5].

Group 1 - Shanghai Xiba's stock price dropped by 5.08% to 98.23 CNY per share, with a trading volume of 1.12 billion CNY and a turnover rate of 6.21%, resulting in a total market capitalization of 17.24 billion CNY [1] - The company, established on July 4, 1994, and listed on June 1, 2017, specializes in comprehensive solutions for water treatment technology [1] - The revenue composition of Shanghai Xiba includes: 40.89% from chemical sales and services, 31.82% from water treatment system operation management, 23.05% from equipment sales and installation, 3.28% from other products and services, 0.74% from duct cleaning, and 0.23% from water treatment equipment integration [1] Group 2 - Zhonghang Fund has a significant holding in Shanghai Xiba, with its fund "Zhonghang New Start Flexible Allocation Mixed A" (005537) increasing its stake by 660,700 shares in the second quarter, holding a total of 940,700 shares, which represents 9.6% of the fund's net value [2] - The fund has a total scale of 19.92 million CNY and has achieved a year-to-date return of 89.63%, ranking 97 out of 8,246 in its category, and a one-year return of 103.46%, ranking 437 out of 8,054 [2] - The fund manager, Han Hao, has been in position for 7 years and 278 days, with the fund's total asset scale at 1.788 billion CNY, achieving a best return of 212.76% and a worst return of -12.9% during his tenure [3]

Group 1: Company Overview - China Construction Environmental Technology Co., Ltd. is a high-tech public company with a decade of listing history, recognized as a central enterprise and a specialized small giant in the industry [2] - The company focuses on unique water treatment equipment and comprehensive water environment governance solutions, aiming to enhance its market value and visibility [2] Group 2: Core Technologies and Services - The company emphasizes advanced technology products as the core of its environmental solutions, targeting four key areas: integrated management of factories, networks, rivers, and lakes; efficient urban sewage treatment; low-carbon drying and incineration of sludge; and wastewater reuse in steel and coal industries [3] - The sludge low-temperature drying equipment utilizes leading energy management technology, achieving energy consumption levels 20% lower than the industry average while improving drying efficiency and reducing environmental pollution [3] Group 3: Investor Engagement - The company actively engages with investors through online platforms, addressing their concerns and suggestions during performance briefings [2] - There are no current plans for nuclear wastewater treatment, and any future stock repurchase plans will be disclosed as per regulatory requirements [3]

Core Viewpoint - The company, Jinko Environment Co., Ltd., is committed to the mission of "AI brings water freedom to humanity" and is implementing a strategy focused on "resource utilization, AI digitization, and productization" to promote efficient use and sustainable development of water resources, showing positive operational performance and business expansion [1] Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 277 million yuan, representing a year-on-year growth of 13.16% [1] - As of June 30, 2025, the total order backlog reached 626 million yuan, indicating robust overall operations [1] Group 2: Technological Advancements - The company launched the core component of its AI digitization strategy, the Water Radish AI Intelligent System, which integrates self-developed process optimization forecasting and decision-making models, enhancing operational safety, efficiency, and cost-effectiveness in water treatment plants [2] - The Water Radish AI Intelligent System is expected to reduce labor costs by approximately 75%, decrease equipment failure rates by about 20%, and lower chemical and electricity consumption by around 15% each [2] Group 3: Product Development - The company has made significant advancements in the performance and scalability of its new water island product, achieving a 90% reduction in construction time and land area compared to conventional water treatment plants, while significantly lowering the total lifecycle cost [3] - The company has delivered a total of 8 new water island products as of the report date, indicating progress in production capabilities [3] Group 4: Market Expansion - The company is actively expanding its overseas market presence, achieving initial success in various regions, including securing direct drinking water project membrane component sales orders in Thailand and conducting experimental applications of the new water island in the UAE [4] - The company has established partnerships in North America and is building a cooperative network for future business expansion in the Middle East and Europe, indicating a gradual improvement in its overseas sales channel system [4]

每经头条（nbdtoutiao）——AI内容强制标识"首周"实测：抖音、小红书、微博自动识别"失灵"，AI应 用文本漏标，视频"会员可去水印" 每经AI快讯，泰和科技（SZ 300801，收盘价：27.5元）9月4日晚间发布公告称，王东海先生因工作调 整，申请辞去职工代表董事职务，王东海先生的工作将会进行妥善交接。辞去职务后仍在公司担任其他 职务。经与会职工代表认真审议与民主选举，一致同意选举王燕平女士为公司第四届董事会职工代表董 事，任期至第四届董事会届满之日止。公司第四届董事会中兼任公司高级管理人员以及由职工代表担任 的董事人数总计未超过公司董事总数的1/2。 截至发稿，泰和科技市值为60亿元。 （记者 张明双） 2024年1至12月份，泰和科技的营业收入构成为：水处理行业占比86.17%，氯碱行业占比13.42%，其他 占比0.41%。 ...

Core Viewpoint - Shanghai Xiba Technology Co., Ltd. experienced a significant stock price fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days, indicating abnormal trading activity [1][2][4]. Group 1: Stock Trading Abnormalities - The company's stock price increased by 23.20% from the closing price on August 28, 2025, with a turnover rate of 12.45% as of September 2, 2025 [4]. - The stock's static price-to-earnings ratio is 355.62, dynamic price-to-earnings ratio is 71.11, and price-to-book ratio is 14.22, all of which are significantly higher than the average levels in the environmental protection and battery components sectors [4]. Group 2: Company Operations and Financials - The company confirmed that its daily operations are normal, with no significant changes in its main business or market environment [2]. - The company reported a net profit of 20.22 million yuan, a decrease of 51.27% year-on-year, and a total revenue of 12.56 million yuan, down 15.85% year-on-year, as disclosed on August 28, 2025 [4]. Group 3: Shareholder and Management Activities - The company conducted a self-examination and found no undisclosed significant matters related to major asset restructuring, share issuance, or other major transactions involving the company [2][3]. - There were no reported stock trades by the controlling shareholders, actual controllers, or company executives during the period of stock price fluctuation [3].