10月8日，中环环保（300692.SZ）发布关于筹划控制权变更事项进展暨继续停牌的公告，其控股股东、实际控制人张伯中及其一致行动人正在筹划公司控制 权变更相关事宜，该事项可能导致公司控股股东和实际控制人发生变更。为避免股价异常波动，维护投资者利益，其自2025年9月29日起停牌，预计停牌时 间不超过2个交易日。 据悉，截至公告披露日，相关各方正在积极推进交易的各项工作，具体交易方案及协议仍在论证和磋商中。由于事项尚在筹划中，存在不确定性，公司股票 及可转债自10月9日开市起继续停牌，预计停牌时间不超过3个交易日。公司可转债"中环转2"暂停转股。 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | 营业收入(元) | 474.119.043.99 | 452,245,192,93 | | 4.84% | | 归属于上市公司股东的净利 | 44.091.006.32 | 40.195.545.58 | | 9.69% | | 润(元) | | | | | | 归属于上市公司股东的扣除 非经常性损益的净利润 | 40.563.39 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 转自：巨潮资讯网 近日，中环环保（300692.SZ）披露重大事项公告，公司控股股东、实际控制人张伯中及其一致行动人 安徽中辰投资控股有限公司正筹划控制权变更事宜，该事项可能导致公司控股股东与实际控制人发生变 动。中环环保股票及可转换公司债券自9月29日（星期一）开市起停牌，同步暂停的还有公司可转换公 司债券"中环转2"的转股功能。 | 证券代码:300692 | 证券简称:中环环保 | 公告编号:2025-054 | | --- | --- | --- | | 债券代码:123146 | 债券简称:中环转 2 | | 巨潮资讯网公告 作为2017年登陆深交所的环保企业，中环环保总部位于安徽合肥，业务覆盖水处理及水环境治理、垃圾 焚烧发电、固危废处理等核心领域。目前公司旗下主体已布局安徽、山东、浙江等七大省市，累计实施 近百个大中型环境工程项目，拥有上千公里管网建设与运维经验，日运营水量超百万吨，多个垃圾焚烧 发电项目已投入运营。 2025年上半年经营数据显示，公司实现营业总收入4.74亿元，同比增长4.84%；归母净利润4409.1万 元，同比增幅9.69% ...

证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 2025 年 9 月 29 日投资者关系活动记录表 编号：2025-32 | 投资者关系活动 | ★特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | □其他 | | | 参与单位名称及 | 南方基金-孙鲁闽、林乐峰、潘越、刘嘉恺、毛瑞丰、卢玉珊、 | | 人员姓名 | 尹力；长江证券-徐科。 | | | 东吴证券-袁理、陈孜文、田源；建信养老-李平祝；海富通基金 | | | -江勇；大家资产-陈江娜；融通基金-杨一；长江资管-汪中昊； | | | 创金合信-刘泉、张小郭；中邮资管-张文鹏；招商信诺资管-彭 | | | 羿扬；途灵资产-赵梓峰；方正自营-朱张元；尚诚资管-黄向前； | | | 卫宁私募基金-王兴佳；明辉投资-陈镇炎；鹏泰投资-祝凯伦； | | | 盟洋投资-祝天骄；泽娴投资-周扬。 | | 时间 2025 | 年 9 月 29 日 | | 地点 | 线上交流 | | 上市公司接待人 | 胡涵、梁一谷 | | ...

2023年下半年以来，国家启动了新一轮大规模化债，重点是化解隐性债务，从有息债务到清欠企业账款。尤其是2024 年以来，解决拖欠企业款项的问题被提升到前所未有的重要位置。 "化债行情"的主要受益者之一，便是固废处理行业。 以市值创下历史新高瀚蓝环境为例，本文之中，我们将揭示这个鲜被市场所提及的冷门板块的价值逻辑。 01 化债进程 与政府及地方融资平台应收账款较多的行业，包括基础设施建设、环保水务等公用事业类、土地一级开发及房地产 类、教育与医疗等领域，以及PPP项目。 我们以固废处理上市公司为例，来观察化债大背景下，其财务状况有无优化。 从资产负债率来看，固废行业整体的自2021年以来即处于降负债的进程中。25年上半年与上年同期相比，资产负债率 略有上升。2021年以来应收账款周转率逐年略降。25年上半年应收账款转率同比进一步下降。 图表1：固废上市公司整体资产负债率%，图表2：固废上市公司整体应收账款周转率（次/年） 如果我们从营业收入与应收账款增长率对比来看，固废处理行业已从此前的高速增长步入平缓期，应收账款增长率显 著高于营业收入增长率。但我们也观察到，25年上半年应收账款增长率显著下降，与2022年基 ...

生活垃圾焚烧产生的热量用于发电或供热；通过"点对点"定向利用，让危险废物变身为"生产资料"…… 这些变废为宝、循环利用的有效环保措施是江西省吉安市永新县推动资源循环利用的生动实践。 "垃圾废弃物只是放错了地方的资源。"永新生态环境局党组书记、局长龙怡华表示，永新生态环境局紧 紧抓住"无废城市"建设机遇，不断健全体制机制，创新打造从源头到末端、从生产到消费、从预防到治 理的全过程、全生命周期管理模式，积极促进资源循环利用，探索走出一条生态优先、节约集约、绿色 低碳的高质量发展之路。 初秋时节，走进光大环保能源（永新）有限公司生产区域，环顾四周，厂区干净整洁，厂房窗明几净， 地面一尘不染。这里空气清新，没有闻到一丝异味。 在吊机控制室，透过厚厚的玻璃可以看到，几十米深的垃圾池里堆满了生活垃圾。工作人员控制抓斗， 轻松抓起数吨发酵后的垃圾投入焚烧炉。这些垃圾在焚烧炉里"浴火重生"，最终转化为电能，通过电网 输送到千家万户。 "公司年处理生活垃圾21.9万吨，年发电量8721.38万千瓦时。"光大环保副总经理彭伟说，"我们不仅消 纳了生活垃圾增量，还将填埋场历年的陈腐生活垃圾挖出来焚烧，现在最担心的还是生活垃圾够不 ...

Core Viewpoint - The chairman of Chengfa Environment emphasizes the need for the company to develop independent survival capabilities without relying on subsidies, aiming for a healthy business model in the future [3][4]. Company Development Strategy - Chengfa Environment plans to focus on its core business, leveraging its strengths to expand both in scale and operational efficiency, transitioning from a regional environmental company to a national leader [3][6]. - The company aims to achieve growth through a dual approach of self-construction and acquisitions, targeting a transformation into an international environmental technology listed company [3][10]. Mergers and Acquisitions - Chengfa Environment has identified the acquisition of existing assets as a key strategy to overcome market saturation in the environmental sector, particularly in waste-to-energy projects [4][6]. - The company has successfully expanded its business footprint through strategic acquisitions, including the purchase of 100% equity in Dunhua Zhongneng, enhancing its presence in the Northeast market [6][7]. Financial Performance - In the first half of the year, Chengfa Environment reported a revenue increase of 11.25% to 3.216 billion yuan, with environmental business revenue accounting for 76.31% of total income [6][8]. - The company operates 43 waste-to-energy projects with a daily waste processing capacity exceeding 40,000 tons, achieving a historical low in comprehensive plant electricity consumption rate at 12.95% [6][8]. Future Growth Engines - Chengfa Environment is diversifying into three new growth areas: smart water services, urban sanitation, and recycling of renewable resources, aiming to create new revenue streams [6][8]. - The company plans to integrate water supply and drainage services in Henan province, responding to the provincial government's push for unified management in this sector [7][8]. International Expansion - The company has initiated an international strategy focusing on Central Asia and Southeast Asia, where environmental industries are still developing, presenting significant market opportunities [9][10]. - Chengfa Environment is currently engaging in international cooperation with countries like Egypt and Uzbekistan, aiming to expand its global footprint [9][10].

格隆汇9月23日丨节能环境(300140.SZ)在互动平台表示，公司目前暂未涉及电子化学品相关业务及产 品，核心主业聚焦于垃圾焚烧发电、节能环保装备及电工装备三大领域。 ...

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The Ministry of Ecology and Environment held a press conference on "High-Quality Completion of the 14th Five-Year Plan," indicating ongoing progress in the "dual carbon" policy [1] - Solid waste management and water governance policies are expected to strengthen the fundamentals of hazardous waste and water-related companies [13] - The demand for environmental monitoring equipment is anticipated to continue growing due to the ongoing "dual carbon" policy [13] Summary by Sections Industry Trends - Since the beginning of the 14th Five-Year Plan, the capacity for hazardous waste utilization and disposal has increased by 58.8%, and the capacity for municipal solid waste incineration has increased by 72.4% compared to the end of the 13th Five-Year Plan [10] - Over 3000 solid waste management projects have been implemented across 113 cities, with an investment of approximately 560 billion yuan [10] Solid Waste Management - The solid waste sector has seen a significant improvement in cash flow and dividend payouts, with a focus on operational efficiency and cost reduction [14] - The average revenue growth for the solid waste sector was 1%, with net profit increasing by 8% in the first half of 2025 [14] Water Management - The water sector is expected to experience a cash flow turnaround similar to that of the waste incineration sector, with a projected increase in free cash flow starting in 2026 [18] - Water pricing reforms are being implemented in cities like Guangzhou and Shenzhen, which may lead to a new round of price adjustments [18] Sanitation Equipment - The penetration rate of electric sanitation vehicles increased by 6.53 percentage points to 16.71% in the first eight months of 2025, with sales of electric sanitation vehicles rising by 69.34% year-on-year [22] - The total sales of sanitation vehicles reached 49,577 units, reflecting a year-on-year increase of 3.2% [22] Bio-Diesel - The average price of waste cooking oil increased to 6,713 yuan per ton, while the average price of biodiesel remained stable at 8,400 yuan per ton, resulting in a decrease in profit margins [34] Lithium Battery Recycling - The prices of metals and discounts on ternary battery materials have increased, leading to improved profitability in lithium battery recycling [39]

Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.121 billion yuan, with a net profit attributable to shareholders of 719 million yuan, representing a year-on-year growth of 29.55% [3] - Total assets reached 35.658 billion yuan, an increase of 10.02% compared to the end of the previous year, with a debt-to-asset ratio of 49.22% [3] Business Segments - The environmental water service segment generated revenue of 786 million yuan, up 13.82%, maintaining a dominant position in the Zhongshan water market [3][4] - The solid waste treatment segment contributed 399 million yuan in revenue, reflecting a year-on-year increase of 14.89% [4] - The waste incineration power generation project processed 663,100 tons of waste, generating 291 million kWh of green electricity [3] Investment Strategy - The company has invested 1.5 billion yuan in a fund, with a total investment amount of 1.208 billion yuan across 27 quality projects [5] - Focus areas include AI and chips, new energy and smart connected vehicles, military industry, and adaptive robotics, aligning with national strategic emerging industries [5] Future Growth Drivers - The water service segment will continue to provide stable cash flow and profit support, with plans to expand industrial wastewater treatment in Zhongshan [6] - The solid waste segment will enhance efficiency through a comprehensive industrial chain layout and accelerate investments in new fields [6] - The company aims to innovate its new energy business model, leveraging fund synergies to promote integrated applications and develop a smart energy management system [6]

Group 1: Company Performance - The company achieved a non-GAAP net profit growth of 89.64% in the first half of 2025, driven by a multi-dimensional operational strategy [3] - Revenue for the first half of 2025 reached 371 million yuan, representing a year-on-year increase of 13.60% [3] - The net profit attributable to shareholders was 71.73 million yuan, showing a year-on-year growth of 4.96% [3] Group 2: Business Strategy and Focus - The company is focusing on two main directions: quality energy asset management and resource utilization, particularly in precious metal recovery [3] - The establishment of a global "pollution reduction and carbon reduction headquarters R&D center" positions the company as a leader in core areas such as flue gas treatment and soil remediation [3] - The company is actively exploring new business growth areas, including the integration of AI and AR technologies in industrial applications [3][4] Group 3: Research and Development - R&D investment exceeded 20 million yuan in the first half of 2025, marking a year-on-year increase of 53.2% [4] - Key focus areas for R&D include core technology upgrades for pollution reduction and carbon neutrality, as well as green extraction of precious metals [4] Group 4: Shareholder Communication - The management emphasized that the pledge of shares by major shareholders is aimed at supporting the company's development and does not materially affect its operations or governance [2] - The management reassured investors that short-term stock price fluctuations do not fully reflect the company's fundamentals, and that creating profits is the best return for investors [2]