控股公司绵阳中科与星际荣耀达成合作意向，开辟商业航天应用领域。2025 年上半年，中科环保控股 公司绵阳中科与四川星际荣耀航天动力有限责任公司达成合作意向，并签署了《合作框架协议》。双方 将围绕绿色低碳能源应用、尖端科技融合等领域展开深度合作。中科绵投通过餐厨垃圾与污泥处理，制 备绿色生物天然气，加注液氧甲烷火箭，实现低碳燃料替代，并提供绿色电能、绿色热能、中水及除盐 水等清洁能源支持，为星际荣耀航天动力生产提供全链条低碳化支持，实现了"环保+航天"的跨界协同 创新。根据绵阳发布引用星际荣耀相关负责人介绍，通过此次合作，成本将节约20%。 垃圾焚烧技术始于中科院，技术装备获市场高度认可。公司垃圾焚烧技术始于1995 年中国科学院工程 热物理所开发的循环流化床生活垃圾焚烧技术，后消化吸收丹麦伟伦炉排炉技术且不断改进。在先进焚 烧技术与装备、污染物超低排放控制技术与装备、智能技术工程化应用等领域具有显著的技术优势。 2025 年11 月，公司再获改造项目设备供货新订单，助力东北地区某固废处理专业公司由循环流化床焚 烧工艺改建为炉排炉工艺，技术装备实力再获市场高度认可。在环保技术不断革新的背景下，公司较早 实现了循 ...

Core Viewpoint - The company achieved double-digit growth in net profit, with stable main business operations. For the first three quarters of 2025, the company reported operating revenue of 1.272 billion yuan, a year-on-year increase of 6.06%, and a net profit attributable to shareholders of 298 million yuan, a year-on-year increase of 13.21% [2][3] Financial Performance - In Q3 2025, the company recorded operating revenue of 424 million yuan, a year-on-year increase of 9.39%, and a net profit attributable to shareholders of 102 million yuan, a year-on-year increase of 2.35% [2] - For the first half of 2025, the company processed 2.1363 million tons of household waste, a year-on-year increase of 10.07%, and the heating volume reached 877,500 tons, a year-on-year increase of 12.01% [2] Business Development - The company is strengthening its leading position in the green thermal energy sector and is actively developing four core heating areas: Hebei, Sichuan, Guangxi, and Zhejiang. New projects in these regions are expected to enhance heating capacity and profitability [3] - The company has made breakthroughs in the green biogas sector and signed a strategic cooperation agreement with a commercial aerospace company to provide green energy solutions [3] Mergers and Acquisitions - The company has successfully acquired 100% equity of the Guigang project (1,500 tons/day) and the Pingnan project (1,200 tons/day) from Beikong Water Group at prices of 303 million yuan and 51.75 million yuan, respectively [3] - The company’s self-developed low-temperature flue gas waste heat utilization technology has been successfully implemented in the Jincheng project, which processes 800 tons of waste daily and can increase electricity generation by approximately 5 million kWh annually [3] Profit Forecast - The company is expected to achieve operating revenues of 1.911 billion yuan, 2.173 billion yuan, and 2.442 billion yuan for 2025-2027, with year-on-year growth rates of 14.93%, 13.69%, and 12.37%, respectively. Net profits attributable to shareholders are projected to be 404 million yuan, 483 million yuan, and 547 million yuan, with growth rates of 25.87%, 19.71%, and 13.12% [4]