新华财经上海10月22日电（林郑宏、周西仑）随着摩尔线程、宇树科技、沐曦股份等明星科技公司陆续开启IPO进程，A股参股IPO概念股吸引了众多市场资 金的目光，其中上海本地公用事业企业 大众公用 （600635.SH）近期异军突起，一个多月来股价扶摇直上，较9月初低点累计上涨超过70%，成为参股IPO主 题中的佼佼者。 燃气销售仍贡献营收大头 大众公用全名为上海大众公用事业（集团）股份有限公司，成立于1991年12月24日，原名为上海浦东大众出租汽车股份有限公司，是全国出租汽车行业中第 一家股份制公司，也是浦东新区成立后的第一家上市公司。公司股票于1993年3月4日在上海证券交易所正式挂牌上市。 据大众公用官网资料介绍，经过三十多年的发展，大众公用已从一个与上海浦东开发开放共同进步，在业内率先上市的交通运输企业，发展成为公用事业与 金融 创投 齐头并进的投资控股型企业。公司目前主营业务主要涵盖城市燃气、环境市政、金融创投三大块。 中经社行业洞察产业服务数据平台（简称"行业洞察系统"）显示，从2024年年报来看，燃气销售收入占据大众公用总营收的83.36%，是绝对大头；而施工 业、 污水处理 业等环境市政业务收入 ...

Core Viewpoint - Dazhong Public Utilities (01635) experienced a significant stock price increase of over 8%, reaching HKD 4.5 with a trading volume of HKD 335 million, following an announcement regarding unusual trading activity [1] Company Summary - Dazhong Public Utilities reported that its stock price had deviated by more than 20% over three consecutive trading days (September 29, September 30, and October 9), indicating abnormal trading fluctuations [1] - The company confirmed that its production and operational activities are normal, and there have been no significant changes in disclosed operational conditions or external environments that could impact stock price fluctuations [1] Investment and Holdings - Dazhong Public Utilities is an investment holding company driven by both public utilities and financial venture capital [1] - The company has a stake in Shenzhen Capital Group, which holds shares in Yushu Technology [1] - Shenzhen Capital Group is also an investor in the well-known GPU company Moore Threads, which has recently passed the listing committee review for its IPO on the Sci-Tech Innovation Board [1]

逆市大涨！ 今日（10月3日）在港股市场整体下跌的背景下，大众公用（01635.HK）的股价逆市大涨。该股盘中涨 幅一度超过30%，最高触及4.92港元/股，创出历史新高。 公开资料显示，大众公用是一家公用事业和金融创投双轮驱动的投资控股型企业。大众公用近期曾表示， 公司参股深创投，深创投及其基金持有宇树科技股份。值得关注的是，深创投还参股了知名GPU企业摩尔 线程，后者科创板IPO申请已通过上交所上市委会议审议。 同日，在港股市场上，核能概念股也集体大涨，中核国际一度涨超20%，上海电气一度涨超16%。那 么，核能股又为何爆发呢？ 大众公用港股大涨 10月3日早盘，港股市场整体调整。截至港股午间收盘，香港恒生指数下跌0.87%，恒生科技指数跌 1.44%。汽车股集体下挫，比亚迪股份跌超4%，小鹏汽车跌近4%，理想汽车跌超3%。此外，快手跌超 3%，比亚迪电子跌超2%，京东集团跌超2%。 牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 不过，大众公用港股却大幅飙升，盘中涨幅一度达到31.55%，最高触及4.92港元/股，创出历史新高。 截至港股午 ...

逆市大涨！ 今日（10月3日）在港股市场整体下跌的背景下，大众公用（01635.HK）的股价逆市大涨。该股盘中涨 幅一度超过30%，最高触及4.92港元/股，创出历史新高。 公开资料显示，大众公用是一家公用事业和金融创投双轮驱动的投资控股型企业。大众公用近期曾表 示，公司参股深创投，深创投及其基金持有宇树科技股份。值得关注的是，深创投还参股了知名GPU企 业摩尔线程，后者科创板IPO申请已通过上交所上市委会议审议。 不过，大众公用港股却大幅飙升，盘中涨幅一度达到31.55%，最高触及4.92港元/股，创出历史新高。 截至港股午间收盘，大众公用的涨幅仍超过28%，市值报181亿港元。最近4个交易日，大众公用累计涨 幅接近70%。分析人士指出，大众公用股价的上涨，跟公司间接参股一些热门企业有关。 近日，大众公用在互动平台回复投资者称，公司参股深创投，深创投及其基金持有宇树科技股份，深创 投及其基金具体投资情况见其官方公开信息。大众公用称，不同公司自身所处行业情况不同，同时公司 股价在二级市场受多重因素影响，请投资者谨慎投资。 企查查数据显示，目前，大众公用持有深创投10.7996%的股权，是深创投的第四大股东。据 ...

Group 1 - The core viewpoint of the news is that Shanghai Dazhong Public Utilities (Group) Co., Ltd. has seen a significant increase in its stock price, rising by 5.29% to 5.97 CNY per share, with a trading volume of 1.254 billion CNY and a turnover rate of 8.89%, resulting in a total market capitalization of 17.626 billion CNY [1] - The company's main business segments include gas sales (89.67%), wastewater treatment (4.17%), construction (1.80%), transportation (1.75%), commerce (1.38%), other (0.90%), municipal tunnel operations (0.29%), and finance (0.05%) [1] Group 2 - From the perspective of major circulating shareholders, GF Fund's Guangfa CSI 1000 ETF (560010) increased its holdings by 1.8927 million shares in the second quarter, now holding 8.4808 million shares, which represents 0.29% of the circulating shares [2] - The Guangfa CSI 1000 ETF has a current scale of 30.718 billion CNY and has achieved a year-to-date return of 27.14%, ranking 2109 out of 4220 in its category, and a one-year return of 47.36%, ranking 1426 out of 3846 [2]

Group 1 - The core viewpoint of the news is that Shanghai Dazhong Public Utilities Co., Ltd. has seen a significant increase in its stock price, rising by 5.27% to 4.79 CNY per share, with a trading volume of 5.56 billion CNY and a turnover rate of 5.04%, resulting in a total market capitalization of 141.42 billion CNY [1] - The company, established on January 1, 1992, and listed on March 4, 1993, primarily engages in public utilities and financial investment businesses, with gas sales accounting for 89.67% of its main business revenue [1] - Other revenue sources include wastewater treatment (4.17%), construction (1.80%), transportation (1.75%), commerce (1.38%), and municipal tunnel operations (0.29%) [1] Group 2 - Among the top ten circulating shareholders of Dazhong Public Utilities, Huaxia Fund's Huaxia CSI 1000 ETF (159845) increased its holdings by 2.51 million shares in the second quarter, bringing its total to 10.54 million shares, which represents 0.36% of the circulating shares [2] - The Huaxia CSI 1000 ETF has a current scale of 38.227 billion CNY and has achieved a year-to-date return of 26.87%, ranking 1825 out of 4222 in its category [2] - Over the past year, the fund has delivered a return of 71.23%, ranking 1256 out of 3804, and since its inception, it has achieved a return of 27.65% [2]

Core Insights - The company reported a decline in revenue but a significant increase in net profit for the first half of 2025, indicating improved profitability despite lower sales [1][2] Financial Performance - Revenue for the first half of 2025 was CNY 3.43 billion, a decrease of 5.78% compared to the same period last year [1] - Total profit reached CNY 509.31 million, reflecting a year-on-year increase of 55.94% [1] - Net profit attributable to shareholders was CNY 333.02 million, up 172.62% year-on-year [1] - The net profit excluding non-recurring gains and losses was CNY 264.69 million, an increase of 143.19% compared to the previous year [1] - Basic earnings per share stood at CNY 0.11 [1] Profitability Metrics - Gross margin for the first half of 2025 was 19.21%, an increase of 2.49 percentage points year-on-year [2] - Net profit margin improved to 12.42%, up 6.15 percentage points from the previous year [2] Expense Management - Total operating expenses for the first half were CNY 393 million, a reduction of CNY 27.46 million compared to the same period last year [2] - The expense ratio was 11.44%, a slight decrease of 0.09 percentage points year-on-year [2] - Sales expenses increased by 7.06%, while management expenses decreased by 14.31% [2] Shareholder Equity - As of the end of the reporting period, net assets attributable to shareholders were CNY 8.90 billion, a 4.11% increase from the end of the previous year [1] - Total assets amounted to CNY 23.03 billion, reflecting a marginal increase of 0.18% [1]

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, demonstrating resilience amid challenging domestic and international conditions [1]. Financial Performance - The company achieved an operating revenue of 3.433 billion yuan [1]. - The net profit attributable to shareholders reached 333 million yuan, an increase of 211 million yuan compared to the previous year, representing a year-on-year growth of 172.62% [1]. Strategic Direction - The company continues to adhere to its development strategy of "dual-driven by public utilities and financial investment," under the leadership of its board [1].

Group 1 - The company expects a significant increase in net profit for the first half of 2025, projecting a range of 300 million to 420 million yuan, representing a year-on-year growth of 145.59% to 243.82% [1] - The growth is driven by stable development in its main public utility business and positive impacts from fair value fluctuations of financial assets held through joint ventures [1][2] - The company has a strong market presence in the urban gas sector, holding nearly 40% and over 99% market shares in Shanghai and Nantong, respectively, showcasing its regional monopoly advantage [2] Group 2 - The company operates nine wastewater treatment plants in Shanghai and Jiangsu, with a total treatment capacity of 46.5 million tons per day, demonstrating its technical strength in the environmental sector [2] - The company has invested in over 1,500 enterprises through its stake in Shenzhen Capital Group, with a cumulative investment exceeding 120 billion yuan, ranking high in the domestic venture capital industry [2] - The company has received multiple awards for its excellence in ESG practices, including recognition for its leadership and environmental friendliness, reflecting its commitment to sustainable development [3] Group 3 - The company plans to continue its steady growth in public utility services while actively expanding into venture capital and other business areas, leveraging its ESG advantages to create greater value [4]

Group 1 - The core viewpoint of the articles highlights the recognition of Dazhong Public Utility in the ESG field, with the company winning multiple awards, including the "ESG Excellent Leader" and "ESG Environmentally Friendly Excellent Enterprise" [1][5] - Dazhong Public Utility's strong ESG practices create a competitive barrier, leveraging its operations in gas, environmental protection, and venture capital to build a sustainable investment potential [5][6] - The awards received by Dazhong Public Utility validate its robust green operational capabilities in urban gas and wastewater treatment, emphasizing energy efficiency and pollution reduction [6][7] Group 2 - The ESG compliance capability has become a critical competitive advantage for public utility companies, especially under stringent "dual carbon" policies, allowing Dazhong Public Utility to avoid potential risks associated with environmental regulations [7][10] - The company’s monopolistic position in its service areas ensures stable demand for its services, with its gas supply business benefiting from the ongoing transition from coal to natural gas [10][11] - Dazhong Public Utility operates nine wastewater treatment plants with a total capacity of 46.5 tons per day, and is actively enhancing its facilities to meet the highest environmental standards [11][12] Group 3 - The current market environment favors a "barbell strategy," where investors seek stable, high cash flow assets alongside high-growth potential investments, making public utility stocks attractive [9][12] - Dazhong Public Utility's strong cash generation ability is reflected in its high dividend payout ratio, making it appealing to long-term institutional investors [12][18] - The company’s financial venture business is positioned to benefit from supportive policies aimed at promoting technological innovation and entrepreneurship, enhancing its growth prospects [13][14] Group 4 - Dazhong Public Utility's business model integrates stable public utility operations with growth-oriented venture capital activities, aiming to improve overall capital returns [16][18] - The narrowing AH share price gap indicates potential valuation recovery for Dazhong Public Utility, with its H-shares currently offering relative valuation advantages [18]