系统治理方能标本兼治。北京构建起全链条、跨区域的协同治污格局：针对机动车这一移动污染源，持 续加严排放标准，大力推广新能源汽车，强化柴油车管控，有效遏制"车轮上的污染"；在工业治理方 面，推动六环路内规模以上企业完成清洁能源改造，有序关停高污染企业；同时打破行政壁垒，与周边 省市建立大气污染联防联控机制，形成区域"一盘棋"治理合力。从政府"硬约束"到全民"软参与"，生态 环保理念逐步融入日常出行、垃圾分类等生活细节，推动形成"人人参与、共护蓝天"的社会氛围。 面对复合型大气污染这块"硬骨头"，北京自2013年起便锚定目标持续攻坚，以"一张蓝图绘到底"的战略 定力，打响了一场覆盖全领域、贯穿全周期的蓝天保卫战。为治理燃煤污染这一"头号元凶"，北京市实 施清洁空气行动计划，立下"减煤换煤"军令状，到2017年累计削减燃煤1300万吨。西北、东北等燃气热 电中心相继投产，实现核心区无煤化，城六区燃煤锅炉全部淘汰。农村地区通过"五个一批"工程实现炊 事气化全覆盖。截至2025年10月底，北京地区"煤改电"用户已超过137万户。昔日高污染的"黑煤炉"被 清洁高效的"绿色热源"全面替代。 精准治污需要科学赋能。北京用"绣 ...

这是记者1月4日从北京市空气质量状况新闻发布会上获悉的。 一场场久久为功、全力以赴的大气治理攻坚战后，北京的蓝天逐渐从"稀缺品"转变为"常见景"。2025 年，PM2.5优良天数达348天，较2013年增加了144天，多了近5个月。重污染日由2013年的58天，大幅 减少至2025年的1天，降幅超过98%，重污染日基本消除。可吸入颗粒物、二氧化氮和臭氧等六项污染 物浓度全部达到国家标准，空气质量实现全面达标。 专家介绍，当前北京空气质量改善成效还不够稳固，区域大气污染物排放仍处于高位、远超环境容量。 这种条件下，一旦遇到秋冬季逆温、静稳等不利气象条件，容易造成污染物累积、转化，导致区域性污 染过程的出现。 北京市生态环境局党组成员、副局长刘保献介绍，未来五年，北京市将继续锚定目标、久久为功，把大 气污染防治深度融入经济社会发展全局，加快经济社会发展全面绿色转型，以PM2.5治理为主线，以减 污降碳协同增效为抓手，深入实施"0.1微克"攻坚行动，奋力续写美丽北京的蓝天新篇章。 历史上的北京饱受雾霾困扰，大气污染一度成为制约城市发展、影响民生福祉的突出难题。在此背景 下，北京启动了一场超常规力度的"蓝天保卫战"。 ...

空气质量优良天比率首次超八成。2025年，北京市空气质量优良天数为311天，同比增加21天，空气质量优良天比率达85.2%，首次超过八成，为有监测 以来最多；全年共出现重污染日1天，较上年减少1天，为有监测以来最少。 2013-2025年北京市空气质量各级别天数占比 据"北京生态环境"微信公众号消息，2025年，北京交出一张亮眼的"蓝天成绩单"：细颗粒物(PM2.5 )年均浓度首次实现"破30"，为27.0微克/立方米；空气质 量优良天比率首次超八成，达到85.2%；多项指标创有监测以来最优水平，空气质量实现全面达标。 2025年，PM2.5年均浓度首次"破30"，多项指标创有监测以来最优 PM2.5年均浓度首次"破30"。2025年，北京市PM2.5年均浓度为27.0微克/立方米，同比下降11.5%，为有监测以来首次低于"30微克"，北京市大气污染治理 取得里程碑式突破。 空气质量实现全面达标。2025年，与PM2.5一样，其他主要污染物也进一步改善。其中，可吸入颗粒物(PM10 )、二氧化氮(NO2 )和臭氧(O3 )浓度分别为48、 22、159微克/立方米，同比下降11.1%、8.3%、7.0%；SO ...

2025 年 12 月 22 日 证券分析师 袁理 证券研究报告·行业点评报告·环保 环保行业点评报告 环境空气质量标准提标修订，分阶段实施明 确，大气治理需求中长期释放龙净环保受益 增持（维持） [Table_Tag] [Table_Summary] 投资要点 执业证书：S0600511080001 021-60199782 yuanl@dwzq.com.cn 证券分析师 任逸轩 执业证书：S0600522030002 renyx@dwzq.com.cn 行业走势 -9% -6% -3% 0% 3% 6% 9% 12% 15% 18% 21% 2024/12/23 2025/4/22 2025/8/20 2025/12/18 环保 沪深300 相关研究 《中央经济工作会议：全面绿色转型 &能源强国，市场化改革&国际化拓展 值得期待》 2025-12-16 《中央经济工作会议强化双碳转型， 优质运营资产迎市场化改革&国际化 拓展》 2025-12-15 东吴证券研究所 1 / 3 图1：修订后标准与现行标准的各污染物浓度现值对比 请务必阅读正文之后的免责声明部分 行业点评报告 ◼ 事件：生态环境部《环境空气质 ...

2025年1至6月份，同兴科技的营业收入构成为：大气污染治理行业占比99.7%，其他业务占比0.3%。 截至发稿，同兴科技市值为26亿元。 每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ 每经AI快讯，同兴科技（SZ 003027，收盘价：20.17元）12月19日晚间发布公告称，公司与同兴皓升 （宜宾）新能源科技有限公司（原合肥皓升新能源科技有限公司，简称"同兴皓升"）签署股权转让协 议，以评估值人民币约1949万元收购马鞍山皓升新能源科技有限公司(简称"马鞍山皓升")100%股权。 本次交易构成关联交易，己经独立董事专门会议审议通过，己经公司第五届董事会第二十二次会议和第 五届监事会第十六次会议审议通过，关联董事均回避表决，无需提交公司股东大会审议。 （记者 王晓波） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

北京用十几年如一日的攻坚克难与开拓创新，为全球大气污染治理贡献了"北京奇迹"。这为我们在更高 起点上实现经济效益、环境效益"双赢"的可持续发展增添了信心。在政府决策、政策制度、科技支撑、 区域协同、全民共治积极托举下，既自身下足"绣花功夫"，又继续与周边兄弟省市合力治污，并不断从 大气治理国际经验交流中取长补短，让北京有能力久久为功打赢蓝天保卫战。 生态环境治理已进入深水区，从1微克到0.1微克，减排的空间在缩窄，空气质量改善难度也逐步增加。 北京用十几年如一日的攻坚克难与开拓创新，为全球大气污染治理贡献了"北京奇迹"。这为我们在更高 起点上实现经济效益、环境效益"双赢"的可持续发展增添了信心。既自身下足"绣花功夫"，又继续与周 边兄弟省市合力治污，并不断从大气治理国际经验交流中取长补短，相信我们一定能久久为功打赢蓝天 保卫战。 今年1月—11月，北京市细颗粒物(PM2.5 )平均浓度为26.5微克/立方米，同比下降16.7%，为有监测记录 以来历史同期最优水平；优良天数282天，同比增加23天。与这份亮眼"成绩单"一同呈现在我们面前的 是市空气重污染应急指挥部办公室定于2025年12月18日0时启动的空气重 ...

Core Viewpoint - The article discusses the recent revisions to China's air quality standards, emphasizing the need to tighten limits on pollutants like PM2.5, SO2, and NO2 to improve public health and align with international standards [3][4][5]. Group 1: Air Quality Standards Revision - The Ministry of Ecology and Environment has proposed stricter limits for PM2.5, reducing the annual average concentration limit from 35 micrograms per cubic meter to 25 micrograms per cubic meter [6][7]. - The revised standards aim to support the "Beautiful China" initiative, which targets a national average PM2.5 concentration below 25 micrograms per cubic meter by 2035 [5][6]. - The new standards will also tighten limits for SO2 and NO2, with SO2's annual average limit set to 20 micrograms per cubic meter and NO2's to 30 micrograms per cubic meter [8]. Group 2: Health and Environmental Impact - The article highlights that PM2.5 is the most significant air pollutant affecting human health, necessitating stricter regulations based on WHO's updated guidelines [4][5]. - Experts indicate that the ongoing improvement in air quality requires updated standards to maximize health benefits and address changing pollution characteristics [6][7]. - The revisions are expected to lead to changes in air quality assessment results for some cities, potentially reclassifying them from compliant to non-compliant under the new standards [9]. Group 3: Economic Implications - Implementing stricter air quality standards may exert short-term pressure on the economy, particularly on high-pollution industries [10]. - However, the article suggests that these changes could drive industrial upgrades, reduce output from high-pollution sectors, and promote a transition to cleaner energy sources [10]. - The health benefits of stricter regulations are expected to increase significantly as enforcement intensifies, leading to long-term positive outcomes for public health [10].

每经AI快讯，同兴科技（SZ 003027，收盘价：19.45元）12月12日晚间发布公告称，公司第五届第二十 一次董事会会议于2025年12月12日在公司会议室以现场结合通讯表决的方式召开。会议审议了《关于修 订公司章程的议案》等文件。 （记者 曾健辉） 截至发稿，同兴科技市值为25亿元。 每经头条（nbdtoutiao）——实施城乡居民增收计划、降准降息等工具灵活高效运用、增加普通高中学 位……深度解读中央经济工作会议 2025年1至6月份，同兴科技的营业收入构成为：大气污染治理行业占比99.7%，其他业务占比0.3%。 ...

Summary of Longking Environmental Conference Call Company Overview - **Company**: Longking Environmental - **Industry**: Air Pollution Control Equipment Key Points Industry and Market Dynamics - The 2026 environmental special fund budget allocates 46% (CNY 24.4 billion) to air pollution prevention, a 19% increase from the 2025 budget, indicating heightened government focus on air pollution control [2][3][4] - The demand for air pollution control equipment is expected to grow due to the need for retrofitting existing coal power plants and ultra-low emission transformations in non-electric industries such as steel and cement [2][6][7] Company Performance - In the first three quarters of 2025, Longking Environmental secured new environmental orders worth CNY 7.626 billion, a year-on-year increase of 1.1%, with a quarterly growth of 12% [2][6] - The company has a backlog of orders amounting to CNY 19.7 billion, which supports stable revenue recognition and indicates a healthy order pipeline [2][6][9] Financial Health and Growth Prospects - Longking Environmental is the largest manufacturer of air pollution control equipment globally, with annual new orders nearing CNY 10 billion and a backlog close to CNY 20 billion, which is expected to sustain profits over the next three years [2][8][9] - The company is projected to achieve net profits of CNY 1.2 billion, CNY 1.5 billion, and CNY 1.7 billion for the years 2025 to 2027, with corresponding P/E ratios of 16x, 13x, and 11x, reflecting a growth rate exceeding 20% [12][13] Strategic Partnerships and Shareholder Confidence - Major shareholders, including Zijin Mining, have increased their stakes in Longking Environmental, with Zijin's holding rising above 30%, demonstrating confidence in the company's value and business synergy [2][10][11] - Longking Environmental is involved in projects that align with Zijin Mining's green energy needs, such as a 200 MW microgrid project expected to generate over CNY 100 million in annual profit [4][11] New Business Ventures - The company is diversifying into new areas such as high-altitude operation robots and new energy heavy trucks, with investments in JiTai Intelligent and Hunan Chuangyuan, which are anticipated to create a third growth curve for the company [4][12] Conclusion - Longking Environmental is well-positioned to benefit from increased government support and market demand for air pollution control solutions, with a solid order backlog and strategic partnerships enhancing its growth trajectory [2][10][11]

Core Insights - The article discusses the challenges faced by a leading air pollution control company in China due to the global inflation wave from 2020 to 2021, which led to significant cost control issues and a loss of 40 million yuan in 2021 due to soaring steel prices [1] - The company, which has national-level environmental technology qualifications, relies heavily on competitive bidding for project orders, making it vulnerable to raw material price fluctuations [1] - In the second half of 2022, the company faced a decision-making dilemma regarding how to secure raw material costs amidst falling steel prices while holding a procurement order for 20,000 tons of steel [2] Group 1: Company Challenges - The company experienced a loss of 40 million yuan in 2021 due to a surge in steel prices, highlighting the impact of raw material price volatility on its operations [1] - The bidding process requires precise cost calculations based on fluctuating steel prices, creating a risk of losses if prices rise after winning a bid [1] - The company’s operational model is heavily reliant on market conditions, necessitating improved risk management strategies [1] Group 2: Strategic Response - The company partnered with Guojin Futures to develop a comprehensive risk management strategy, which included customized hedging solutions and training for staff [2][3] - A "staggered purchasing" strategy was implemented, allowing the company to buy 20,000 tons of futures contracts in batches, aligning with market trends while securing costs [3] - The successful execution of this strategy resulted in a reduction of procurement costs by 16 million yuan and an additional profit of 4 million yuan from futures trading [3][4] Group 3: Financial Outcomes - The company achieved a dual benefit by avoiding raw material price increases and gaining an additional 20 million yuan in comprehensive profits through effective market trend analysis [4] - The integrated service model provided by Guojin Futures demonstrated the potential for financial services to support real economy enterprises in navigating price volatility [4]