公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 西子洁能(002534.SZ) 投资评级 —— 上次评级 —— 郭雪 环保公用联席首席分析师 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com 吴柏莹 环保行业分析师 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] 经营性现金流净额明显改善，积极布局海外 和核电领域带来成长空间 证券研究报告 [Table_ReportDate] 2025 年 11 月 4 日 [Table_S 事件：公司ummar发布y]2025 年三季报，2025 年前三季度公司实现营业收入 43.33 亿元，同比减少 11.2%；实现归母净利润 1.77 亿元，同比减少 58.31%；实 现扣非归母净利润 1.5 亿元，同比减少 11.15%。其中，单三季度公司实现 营业收入 15.39 亿元，同比减少 18.64%；实现归母净利润 0.29 亿元，同比 减少 64.6%；实现 ...

Group 1 - The latest stock price of Xizi Clean Energy is 16.13 yuan, up 0.75% from the previous trading day, with a trading range of 15.80 to 16.50 yuan and a trading volume of 132,400 hands, amounting to 213 million yuan [1] - Xizi Clean Energy is primarily engaged in the research, development, production, and sales of energy-saving and environmental protection equipment, including waste heat boilers and power station boilers, with applications in the power, metallurgy, and chemical industries [1] - The company announced that from July 23 to August 20, its stock has closed at or above 130% of the current conversion price of Xizi convertible bonds for nine trading days, indicating a potential trigger for conditional redemption clauses [1] Group 2 - On August 20, Xizi Clean Energy saw a net inflow of main funds amounting to 9.25 million yuan, with a cumulative net inflow of 54.38 million yuan over the past five days [2]