Core Viewpoint - The company plans to acquire 100% equity of Tangshan Eric Environmental Technology Co., Ltd. for a total consideration of 84.8 million yuan, which includes 54.8 million yuan in cash and 30 million yuan worth of new water island products [1] Group 1: Acquisition Details - The acquisition is aimed at enhancing the company's presence in the South Fort Economic Development Zone, where it has been active in the recycled water and wastewater resource market since 2006 [2] - The South Fort Reclaimed Water Project has a 30-year operating agreement signed in 2017, focusing on producing high-quality reclaimed water for local enterprises [1][2] - The acquisition is expected to facilitate the company's operations in various projects, including wastewater treatment plant entrusted operation projects and wastewater resource recycling projects, improving management efficiency [2] Group 2: Financial Projections - Post-acquisition, if Eric maintains its current reclaimed water sales volume, it is projected to generate approximately 60 million yuan in annual revenue and 20 million yuan in annual operating cash flow [3] - The investment of 84.8 million yuan is expected to be recouped within five years, indicating a favorable investment return outlook [3] Group 3: Product and Market Strategy - The new water island product represents a shift in traditional water plant construction, utilizing AI technology for integrated design and rapid assembly [2] - The company emphasizes the development of overseas markets, using the new water island product as part of the transaction consideration to enhance brand recognition internationally [2]

转自：中国证券报·中证网 大会期间，金科环境在展位上现场展示了水萝卜®AI智能体与新水岛®产品，更提供了实时交互体验 ——AI智能体直接接入水厂运营数据，动态呈现工艺优化、智能监控等核心功能，让嘉宾直观感受水 萝卜®无人值守与工艺优化能力。 面向未来，金科环境将持续推动水萝卜®AI智能体的场景生态拓展，助力其在普通水处理厂、工业设 施、农业设施和市政设施等领域落地生根。随着国家"十五五"规划对人工智能发展的政策加持，金科环 境将坚守"AI为人类带来水自由"的使命，以技术创新打破行业桎梏，为水务行业高质量发展注入源源不 断的智慧动能。 依托公司多年积累的水厂运营数据与Know-how，水萝卜®AI智能体的研发落地迅速，在实际应用中成 效显著——可助力人力成本节省90%、设备故障率降低50%、电耗降低30%、药耗降低15%，综合运营 成本下降35%，为水务行业降本增效提供了高效解决方案。今年4月，水萝卜®AI智能体被工业和信息 化部工业文化发展中心认证为"AI产业创新场景应用案例"，金科环境成为水行业首家、目前唯一一家获 此认证的AI应用落地标杆企业。 此次报告中，王晓宇特别强调了水萝卜®AI智能体与新水岛®产品 ...

Core Viewpoint - Wuxi Xishan Zhonghe Water Co., Ltd. has been recognized as a key enterprise in the water-saving industry, highlighting its technological breakthroughs and leadership in the field of recycled water resource utilization [1][2]. Group 1: Company Overview - Xishan Zhonghe Water Co., Ltd. was established in 2021 through a collaboration between Jinke Environment and Xishan Energy, focusing on the recycled water sector [1]. - The company has developed an innovative model that integrates resource utilization, AI intelligence, and productization, gaining wide recognition in the industry for its technical strength and operational effectiveness [1][2]. Group 2: Technological Innovations - The company employs an advanced "ultrafiltration + reverse osmosis" dual-membrane treatment process to convert industrial wastewater into high-quality recycled water, achieving a resource upgrade from waste [1]. - The total treatment capacity of its facilities, including Wuxi Xishan High-Quality Recycled Water Plant and others, has reached 32,500 tons per day, replacing 5.8825 million tons of tap water annually and reducing wastewater discharge by the same amount [1]. Group 3: Industry Impact - The company’s model of "re-employing" industrial wastewater has become a benchmark for water resource recycling in industrial parks, promoting a win-win situation for water conservation and emission reduction [1]. - The Dragon Pavilion New Water Island 2.0 Recycled Water Plant features a highly integrated design, completing construction in just 15 days and occupying only 300 square meters while producing 5,000 tons of recycled water daily [2]. - This industrialized approach to water plant construction is seen as a significant shift from traditional methods, marking the entry of the water treatment industry into a productization era [2]. Group 4: Future Plans - The company aims to deepen the integration of resource utilization, AI intelligence, and productization, and plans to assist Wuxi in becoming a national hub for the water-saving industry by providing replicable practices for water resource recycling [2].

Core Insights - JinKe Environment showcased its "New Water Island®" and "Water Radish® AI Intelligent System" at the WEFTEC conference in Chicago, highlighting China's technological innovation in water management and accelerating its overseas market expansion [2][4] - The WEFTEC event, the largest global water conference, attracted over 20,000 water professionals from more than 100 countries and featured over 1,000 companies presenting technological solutions across 50+ sub-sectors [2] Group 1: Product Innovation - "New Water Island®" redefines traditional water plant construction with a modular design, industrial production, AI operation, and specialized services, achieving a 90% reduction in land use, delivery time, and operational staff, while cutting lifecycle costs by 50% [2][3] - The "Water Radish® AI Intelligent System" supports the productization of "New Water Island®" by integrating process optimization, multi-modal perception models, and large language reasoning models to autonomously ensure safe and efficient water plant operations [3] Group 2: Industry Engagement - The immersive presentation at WEFTEC allowed attendees to experience the advantages of "New Water Island®" and "Water Radish® AI Intelligent System," facilitating in-depth discussions on technology adaptability and implementation pathways with water professionals from various countries [3] - The event served as a platform for JinKe Environment to demonstrate its technological capabilities and contribute to global water ecological governance, reinforcing its commitment to "AI bringing water freedom to humanity" and promoting international collaboration [4]

Core Insights - Jin Ke Environment showcased its "New Water Island®" and "Water Radish® AI Intelligent Body" at the WEFTEC World Water Conference in Chicago, highlighting China's technological innovation in water services and accelerating its overseas market expansion [1][4] Group 1: Event Overview - WEFTEC is the largest global water event, gathering over 20,000 water professionals from more than 100 countries and featuring over 1,000 companies showcasing technological solutions across 50+ subfields [1] - The exhibition provided a significant platform for Jin Ke Environment to demonstrate the innovative value of its products [1] Group 2: Product Features - "New Water Island®" redefines traditional water plant construction with a modular design, industrial production, AI operation, and specialized services, achieving a 90% reduction in land use, delivery time, and operational personnel, while cutting lifecycle costs by 50% [1][2] - The "Water Radish® AI Intelligent Body" is a self-developed intelligent management system that optimizes water plant operations through AI, ensuring safety, efficiency, and cost-effectiveness [2] Group 3: Engagement and Impact - The immersive presentation at the exhibition allowed attendees to experience the rapid deployment and integration capabilities of "New Water Island®" and the operational logic of "Water Radish® AI Intelligent Body" [3] - The event attracted numerous water professionals for in-depth discussions on technology adaptability and implementation pathways, establishing a foundation for future global partnerships [4] Group 4: Future Strategy - Jin Ke Environment aims to contribute to global water resource challenges by adhering to its mission of "AI bringing water freedom to humanity" and following a strategy focused on resource utilization, AI digitization, and productization [4]

Group 1 - The core viewpoint of the news is the strategic partnership established between Jinko Environment and China Pacific Insurance (Hong Kong) Investment Management, focusing on the development of the new water island® product and promoting sustainable water resource management through financial technology [1][3] - Jinko Environment aims to provide comprehensive solutions throughout the project lifecycle, leveraging AI and advanced technologies to create a sustainable water recycling system that relies on 70% recycled water and 30% fresh water [2][3] - The new water island® product features a dual-mode architecture for digital management, aligns with international ESG standards, and offers predictable cash flows, making it an attractive investment opportunity [3] Group 2 - China Pacific Insurance (Hong Kong) Investment Management is the only overseas investment management institution of China Pacific Insurance Group, holding multiple licenses for securities trading and asset management, and aims to build a professional financial investment management platform [1] - The partnership will leverage the financial expertise of China Pacific Insurance (Hong Kong) to enhance the application of innovative financial technology tools and new financing services in sustainable water resource industries [3]

Group 1 - Jin Ke Environment (688466) has signed a Strategic Cooperation Memorandum with China Pacific Insurance Asset Management (Hong Kong) to establish a strategic partnership [2] - The partnership aims to leverage financial technology to promote the digital transformation and productization of sustainable infrastructure, specifically in the water resource sector [2][3] - The collaboration will contribute to the construction of a sustainable water circulation system, providing high-quality water resources that are sufficient, reliable, and affordable [2][3] Group 2 - Jin Ke Environment's core product, New Water Island®, integrates AI algorithms and various advanced technologies for deep water treatment and resource recovery [3] - New Water Island® features a dual-mode architecture for digital management throughout its lifecycle, supporting real-time verifiable operational data [4] - The asset aligns with international ESG standards and aims to enhance long-term valuation through quantifiable environmental benefits, providing stable cash flows and predictable returns for investors [4] Group 3 - The partnership will focus on innovative financial technology tools and new financing services to support high-quality development in multiple sustainable water resource industries [4] - Jin Ke Environment's strategy emphasizes a sustainable water cycle where 70% of water comes from high-quality recycled water and 30% from fresh water [3] - The collaboration is expected to enhance the operational safety, risk control, and compliance processes in the financial sector [4]

Core Viewpoint - Jinko Environment Co., Ltd. has received "buy" ratings from Dongwu Securities and Huatai Securities, with Founder Securities initiating coverage with a "recommended" rating following the release of its 2024 annual report and 2025 Q1 report [2] Financial Performance - In 2024, Jinko Environment achieved operating revenue of 617 million yuan, an increase of 7.74% year-on-year [2] - In Q1 2025, the company's revenue grew by 17% year-on-year to 129 million yuan, with net profit attributable to shareholders increasing by 33% [2] - As of the end of March 2025, Jinko Environment had an order backlog of 709 million yuan, indicating steady growth in B-end orders [2] Strategic Initiatives - The company is deepening its strategy of "resource utilization, AI intelligence, and productization," with the New Water Island® project accelerating implementation and expanding applications in industrial scenarios [2][3] - The New Water Island® 2.0 product has secured multiple orders, including projects in Wuxi, Zhoushan, Kaifeng, and Taiyuan, each with significant capacities [3] - The Water Radish® AI intelligent system features a multi-model integrated architecture, enhancing operational efficiency and safety in the New Water Island® product's unmanned operations [3] Market Outlook - Institutions believe that Jinko Environment's growth prospects are promising due to policy support, product upgrades, and expanded sales channels, which are expected to accelerate order replication [3]