1. Listed sewage treatment companies: Capital Holdings (600008), Chuangye Environmental Protection (600874), Sander Environmental Protection (000826), Zhongyuan Environmental Protection (000544), Capital Holdings (000544), Wuhan Holdings (600 168), etc.
2. Listed companies for waste gas treatment: Longjing Environmental Protection (600388), Feida Environmental Protection (600526), Kowloon Electric Power (600292), Shanda Walter (0009 15), Zhejiang University Net New (600797), Tongfang Shares (60015) Yuneng Holdings (00 1896), Huaguang (600475), Juhua (600 160), San Aifu (600636), Inner Mongolia Huadian (7.48, -0.08,-1...
3. Listed companies of garbage disposal and comprehensive utilization: Harbin Investment Company (600864), Nanhai Development Company (600323), Ningbo Fidelity Company (600724), TEDA Company (000652), huadian energy Company (600726) and Xiake Environmental Protection Company (0020 15).
4. Listed companies of energy-saving building materials and household appliances: Beixin Building Materials (000786), Yuan Keli (600478), Foshan Lighting (00054 1), yantai wanhua (600309), Liang Shuang Energy Saving (60048 1) and Tongfang (60065438).
Entrepreneurial environmental protection (600874): Tianjin Entrepreneurial Environmental Protection Co., Ltd. is the first A&H listed enterprise in China focusing on sewage treatment. It is also a pioneer in the domestic environmental protection field.
Feida Environmental Protection (600526): Zhejiang Feida Environmental Protection Technology Co., Ltd. (referred to as Feida Environmental Protection) is the largest scientific research and production enterprise of environmental protection machinery in China, and the only national major technical equipment localization base in environmental protection industry.
Longjing Environmental Protection (600388): Longjing Environmental Protection is the first listed company in China environmental protection and dust removal industry. China is a large R&D and production base specializing in designing and manufacturing dust removal devices, flue gas desulfurization devices and other environmental protection products. Enterprise strength and product production and sales are in the leading position in the industry.
Analysis of environmental protection leading stocks
Bi Shuiyuan (300070): Leading unit of sewage treatment.
The technical advantages are in line with the development trend of the sewage treatment industry in the Twelfth Five-Year Plan. The discharge standard of urban sewage treatment plants in the Twelfth Five-Year Plan will be raised from Grade II to Grade II, and some areas even need to reach Grade A or above; The recycling rate of reclaimed water in water-deficient cities such as the north needs to reach more than 40%. The company has MBR membrane technology, and the effluent quality is higher than traditional sewage treatment, which meets the needs of the development of sewage treatment industry in the "Twelfth Five-Year Plan". It is estimated that this will bring about 40 billion market space for MBR membrane system.
With a complete membrane technology industry chain, the profit rate is better than that of peers. The company built an ultra-micro filtration membrane production line with an annual output of 2 million square meters through listing financing, which not only increased the profit contribution points for the company; At the same time, the low cost of self-produced membrane has also improved the gross profit level of the company's membrane module device, sewage treatment overall solution and other businesses. The company raised more than 654.38+879 million yuan, which provided financial guarantee for the subsequent continuous expansion.
Take the joint venture company as a platform to expand rapidly in different places. The company has established joint ventures with local governments in Yunnan, Jiangsu and Hunan to establish regional water resources development platforms. Considering that the company still has nearly 900 million yuan of over-raised funds unused, it is expected that the distribution will continue. In the medium and long term, the company will share the profits of the joint venture company by producing its own membrane products and lay a long-term growth space.
Longyuan Technology (300 105): environmental protection leading stock for denitration.
The company is an industry leader in plasma ignition technology, with mature technology and the richest practical experience; Guodian Group, the parent company, provides a solid guarantee for the stable growth of production and sales of Long Yuan Science and Technology in the next three years. With the help of the development platform of Guodian Group, Long Yuan Science and Technology will have a more specialized technology experiment platform and information feedback system. Service provider focusing on clean pulverized coal combustion technology: The company takes plasma ignition technology as the core, providing non-standard design, installation and service of plasma oil-free ignition system and low nitrogen combustion system. Under the background of widespread losses in power plants and increasingly strict requirements for denitrification, its trinity function of fuel saving, high-efficiency pulverized coal combustion and low-cost in-furnace denitrification makes the company occupy 90% of the market share of plasma ignition and has an absolute technological leading position in the industry. Entering the new field of waste heat recovery of power station: 20 10, the company signed a contract with the power plants in the group to recover the waste heat of power station for heating by using heat pump technology, and the income of 2011400,000 yuan was confirmed in the first half of the year. It is expected that the project will be popularized in the national power system after completion. The introduction of denitration electricity price will lead to the blowout of orders for low-nitrogen combustion equipment: It is expected that with the final introduction of supporting subsidy electricity price in the near future, the pace of denitration transformation of power plants will be accelerated, and the company's low-nitrogen combustion system will continue to maintain the leading position in the denitration transformation market in the future.
Capital stock (600008): leading stock of sewage treatment.
Optimistic about the company's second expansion in the field of sewage treatment. During the "Twelfth Five-Year Plan" period, China will increase its sewage treatment capacity by 42 million tons/day, mainly in the central, western and northeastern regions. Capital Co., Ltd. has established good cooperative relations with local governments. The sewage treatment capacity of the central and western regions of the company reaches 9.48 million tons/day, accounting for 75% of the company's existing sewage treatment capacity, among which the larger provinces are Inner Mongolia, Hunan, Shanxi and other provinces, and the corresponding sewage treatment capacity is 3,658,438+07,206,654,380+06,600 tons/day respectively. We are optimistic about the second expansion potential of the company's sewage treatment capacity in the above areas. By the end of 20 10, the company's sewage treatment business income and gross profit contribution accounted for 48% and 47% respectively, and it is expected that this proportion will continue to increase during the Twelfth Five-Year Plan period.
Actively explore new business: March into solid waste treatment business. 20 1 1, the company completed the acquisition of shares of new environmental protection energy, a listed company in Hong Kong. At the end of 20 10, the solid waste treatment capacity of new environmental protection energy co., ltd. was 36.25 million tons/day. Considering the capacity under construction, by the end of 20 12, its solid waste treatment capacity will be increased to 64.25 million tons/day. In the short term, the company is still in the process of business integration, and it is expected that 13 will provide new impetus for the company's performance growth. According to conservative calculation, the annual operation in 20 13 can increase the net profit by 67.5 million yuan, or 0.03 yuan EPS.
The cash cow business provides financial support for the company's continuous expansion. In addition to the main business of tap water sales and sewage treatment, the company also has stable cash flow brought by expressway business, with an annual operating profit of 200 million yuan, accounting for 20% of the company's operating profit, which provides sufficient financial support for the company to achieve scale expansion.
Guodian Qingxin (002573): desulfurization leading stock
Rich experience in desulfurization franchising, 20 12- 13 sustained high growth. The company is one of the first batch of desulfurization franchise pilot companies in China, and currently operates 8 sets of desulfurization assets of Datang Tuoketuo, with a capacity of * * * 4.8 million kw. 20 1 1 At the beginning of the year, the company signed two cooperation agreements with Datang Power Generation for desulfurization operation projects with a total amount exceeding 7 million kw. The first batch of franchise projects to be acquired involves 13 * * * 4.86 million kilowatt desulfurization operation projects, which are expected to be completed this year. Provide growth momentum for the company's operating income in 20 12 and 13 years.
The twelfth five-year policy environment is conducive to the company's business development. At present, the company is the only listed company with franchise desulfurization operation experience. Desulfurization franchise is more suitable for the requirements of the "Twelfth Five-Year Plan" environmental protection policy. The desulfurization standard is reduced from 200mg/m3 to 100mg/m3, which increases the difficulty of reaching the desulfurization standard and provides market space for professional desulfurization operators. Specialized desulfurization operation is helpful to improve industry concentration and strengthen emission supervision.
Technical advantages+financial strength ensure its long-term development. The company has completely independent intellectual property rights such as cyclone-exchange coupling desulfurization and activated coke dry desulfurization introduced from WKV company in Germany. Compared with traditional desulfurization technology, the former has the advantages of low cost: the cost is lower than that of conventional desulfurization15-20%; The latter has the advantage of water saving, which provides an advantage for the company to strive for desulfurization projects in water-deficient areas in the west. 20 1 1 The company went public, with financing exceeding 843 million, and the current debt ratio is 24%. Reserve funds provide support for the company's continuous expansion.
Kowloon Electric Power (600292): desulfurization leading stock
Kowloon Electric Power has changed from a traditional thermal power company to an environmental protection platform of the group company. It reserves a number of environmental protection leading technologies such as SCR catalyst, carbon capture and nuclear waste disposal, and is cautiously optimistic about the project support given by the group company in desulfurization operation and SCR catalyst in the future.
Create an environmental protection listing platform for China Power Investment Corporation. Kowloon Electric Power is a listed company of China Power Investment Corporation. At present, in addition to the original power generation business and Yuanda environmental protection equity investment, it has acquired the desulfurization assets of 9.08 million kilowatt generating units in the high-quality desulfurization franchise project of China Power Investment Corporation through private placement, and completed its entry into the desulfurization franchise industry of thermal power plants. At the same time, the company strives to transfer power generation and coal assets in a timely manner and transform into an electric power environmental protection company.
The industry prospect in the field of electric power environmental protection is broad. The desulfurization franchise project opens up space for the company's profit growth, and the performance of the desulfurization franchise project will mainly depend on the utilization hours of the power plant, which changes the unfavorable situation that the company's original power generation business is subject to market coal and planned electricity prices. The denitration catalyst produced by Yuanda Environmental Protection Subsidiary, which is controlled by the company, will be the direct beneficiary of thermal power denitration with the gradual implementation of national denitration and emission reduction standards and electricity price policy. In the future, the expansion of China Power Investment Corporation's environmental protection business, the continuous injection of high-quality assets by major shareholders and the start of denitration industrial policy will provide the possibility for the company's future performance to exceed expectations.