Core Viewpoint - Longjing Environmental Protection (龙净环保) is actively pursuing its "environmental protection + new energy" dual-driven strategy by investing in significant projects both domestically and internationally, with a total investment exceeding 5.2 billion yuan in a single day [2][5]. Group 1: Project Developments - The company announced the acquisition of 80% of GML in the Democratic Republic of Congo, securing the development rights for the 140MW Kalan Geng Hydropower Station, with a total investment of approximately 3.99 billion USD (about 28.43 billion yuan) [3][4]. - Additionally, the company plans to invest in the Mami Cuo Integrated Energy Station project, with a total investment of around 2.39 billion yuan, which includes a combination of solar, energy storage, and thermal power generation [5][6]. Group 2: Financial Performance - Longjing Environmental Protection has maintained over 10 billion yuan in annual revenue for six consecutive years, with a reported revenue of 10.02 billion yuan in 2024, a decrease of 8.69% year-on-year, while net profit increased by 63.15% to 830 million yuan [7][8]. - In the first half of 2025, the company achieved a revenue of 4.68 billion yuan, a slight increase of 0.24% year-on-year, and a net profit of 445 million yuan, up 3.27% [7][8]. Group 3: Market Position and Strategy - The company holds a robust position in the environmental protection industry, with a total of 19.97 billion yuan in contracts on hand as of mid-2025, solidifying its status as an industry leader [8]. - Longjing Environmental Protection emphasizes technological innovation and has increased its R&D expenditure to 219 million yuan in the first half of 2025, reflecting a 4.7% year-on-year growth [8].

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company announced the investment in the Ma Mi Cuo integrated energy station project and the Congo (Kinshasa) Kalan Geng hydropower station project, with expected operational contributions starting from Q2 2026 [2][4] - The Ma Mi Cuo project is projected to generate an annual net profit of 130 million yuan, while the Congo project is expected to yield 358 million yuan annually, indicating a strong growth potential for the company [2][4] - The green electricity logic of the company continues to be validated, and the long-term development outlook remains positive [2] Summary by Sections Project Announcements - On September 12, 2025, the company announced the investment in the Ma Mi Cuo energy station and the Congo hydropower station projects [4] - The Ma Mi Cuo project is expected to be operational by Q2 2026, with a projected electricity price of 0.7 yuan/KWh (including tax) and an estimated annual net profit of 130 million yuan [2][4] - The Congo project is anticipated to be operational by 2029, with a supply electricity price of approximately 0.16 USD/KWh (excluding tax) and an estimated annual net profit of 358 million yuan [2][4] Financial Projections - The company is expected to achieve net profits of 1.103 billion yuan in 2025, 1.402 billion yuan in 2026, and 1.701 billion yuan in 2027, representing year-on-year growth rates of 32.8%, 27.1%, and 21.4% respectively [2] - The projected PE ratios for 2025, 2026, and 2027 are 15.1x, 11.9x, and 9.8x respectively, indicating a favorable valuation outlook [2] Operational Insights - The company has successfully operated the first phase of the La Guo Cuo project at full capacity and has seen stable operations in various overseas projects [2] - The green electricity projects are expected to contribute significantly to the company's profits, with a projected profit elasticity of 59% compared to the company's 2024 net profit [2]

Core Viewpoint - Longjing Environmental Protection announced the investment in the integrated energy station project, indicating a strategic move towards renewable energy and storage solutions [2] Group 1: Project Details - The project involves the construction of the Mami Cuo source network load storage integrated energy station [2] - The total scale of the project includes 420MWp photovoltaic capacity, 412.5MW/1650MWh electrochemical energy storage, and 30MW of biomass power generation [2] - The total investment for the project is approximately 2.391 billion yuan, which will be funded by the company [2]

Group 1 - The core point of the article is that Longjing Environmental Protection (600388) announced an investment in a new energy project aimed at supporting lithium mining operations [1] - The total investment for the project is approximately 2.391 billion yuan, with around 1.05 billion yuan allocated for the photovoltaic area and about 1.287 billion yuan for the integrated energy station [1] - The project is expected to be operational by the second quarter of 2026 and will have a service life of 20 years [1] Group 2 - The project aims to provide stable electricity supply for lithium-boron mining and promote the development of the local lithium industry [1]

Core Viewpoint - Longking Environmental Protection (600388.SH) announced the investment in a new energy power system project to address local power supply issues for its lithium-boron mining project [1] Investment Details - The total investment for the project is approximately 2.391 billion yuan [1] - The investment in the photovoltaic area is about 1.05 billion yuan [1] - The investment in the integrated energy station (1650MWH electrochemical energy storage) is approximately 1.287 billion yuan [1] - Other expenses are around 54 million yuan [1]

Group 1 - The company, Longjing Environmental Protection, announced that its wholly-owned subsidiary, Zijin Longjing Clean Energy Co., Ltd., plans to invest in the construction of the Mami Cuo Source Network Integrated Energy Station project [1] - The project will have a total scale of 420 MWp photovoltaic capacity, 412.5 MW/1650 MWh electrochemical energy storage, and 30 MW of biomass power generation [1] - The total investment for the project is approximately 2.391 billion yuan, which will be self-funded by the company [1] Group 2 - The project is expected to be operational by the second quarter of 2026 and has a planned service life of 20 years [1] - The anticipated annual power generation is approximately 761 million kWh [1]