Core Viewpoint - Zhongke Environmental experienced a slight decline of 0.36% on August 28, with a trading volume of 175 million yuan, indicating a stable market presence despite minor fluctuations [1] Financing Summary - On August 28, Zhongke Environmental had a financing buy-in amount of 25.78 million yuan and a financing repayment of 24.46 million yuan, resulting in a net financing buy of 1.32 million yuan [1] - The total financing and securities balance reached 239 million yuan, with the financing balance accounting for 6.90% of the circulating market value, indicating a high level compared to the past year [1] - In terms of securities lending, 4,100 shares were repaid, while 11,000 shares were sold, with a selling amount of 60,900 yuan, and the securities lending balance was 773,400 yuan, also at a high level compared to the past year [1] Business Performance - As of June 30, Zhongke Environmental reported a total revenue of 848 million yuan for the first half of 2025, reflecting a year-on-year growth of 4.48%, and a net profit attributable to shareholders of 196 million yuan, which is a 19.83% increase year-on-year [2] - The company’s main business revenue composition includes 81.44% from municipal waste treatment, 15.73% from project construction, 1.57% from environmental equipment sales and technical services, 0.71% from hazardous waste treatment, and 0.55% from other businesses [1] Shareholder Information - As of June 30, 2025, the number of shareholders for Zhongke Environmental was 43,800, a decrease of 5.53% from the previous period, while the average circulating shares per person increased by 5.85% to 14,194 shares [2] - The company has distributed a total of 427 million yuan in dividends since its A-share listing [3] - Among the top ten circulating shareholders, Southern CSI 1000 ETF holds 6.86 million shares, an increase of 1.32 million shares, while Hong Kong Central Clearing Limited reduced its holdings by 675,940 shares to 4.72 million shares [3]