证券代码：688480 证券简称：赛恩斯 公告编号：2026-002 赛恩斯环保股份有限公司 重要内容提示： 是否需要提交股东会审议：是。 新增日常关联交易对上市公司的影响：赛恩斯环保股份有限公司（以下 简称"公司"、"赛恩斯"）本次预计的关联交易属于公司日常关联交易，基 于公平合理的原则，交易价格以市场价格为基础，付款安排、结算方式等由双 方参照市场行业惯例，经协商确定，不存在损害公司和全体股东利益的行为， 不影响公司的独立性，不会对关联方形成较大的依赖。 一、日常关联交易基本情况 关于公司增加 2026 年度日常关联交易预计的公告 （一）日常关联交易履行的审议程序 公司于 2025 年 12 月 15 日召开了第三届董事会第二十三次会议、第三届董 事会独立董事专门会议第五次会议、于 2026 年 1 月 5 日召开了 2026 年第一次 临时股东会，审议通过了《关于公司 2026 年度日常关联交易预计的议案》，详 见公司在上海证券交易所网站（http://www.sse.com.cn）披露的《赛恩斯环保 股份有限公司关于公司 2026 年度日常关联交易预计的公告》《赛恩斯环保股份 有限公司 2026 年第 ...

本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 证券代码：688480 证券简称：赛恩斯 公告编号：2026-004 赛恩斯环保股份有限公司 关于召开2026年第二次临时股东会的通知 （一） 股东会类型和届次：2026年第二次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2026 年 2 月 26 日 14 点 00 分 召开地点：湖南省长沙市岳麓区学士街道学士路 388 号公司会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 2 月 26 日 至2026 年 2 月 26 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为 ...

智通财经APP讯，赛恩斯(688480.SH)公告，公司开展钼加工及销售业务，主要目的为控制铼资源源 头，为公司铼综合回收提供持续、稳定的资源保障。目前上游为生产钼精矿的有色金属矿业企业，下游 为钼粉、钼铁、钼合金、催化剂等生产加工企业。 ...

Core Viewpoint - The company plans to initiate a new business by processing molybdenum concentrate and simultaneously investing in equipment for the effective recovery of rhenium resources generated during the processing [1] Group 1: Business Development - The company has reached a consensus with partners regarding the collaboration on this new business venture [1] - The processing of molybdenum concentrate will be fully managed by the partner, while the company will oversee the production process [1] - The company will be responsible for the investment and operation of the rhenium recovery equipment [1]

Core Viewpoint - The environmental governance sector experienced a decline of 0.59% on January 29, with BeiJieTe leading the drop, while the Shanghai Composite Index rose by 0.16% and the Shenzhen Component Index fell by 0.3% [1]. Group 1: Market Performance - The environmental governance sector's stocks showed mixed performance, with notable gainers including FeiNan Resources, which rose by 15.68% to close at 24.42, and ST JingLan, which increased by 5.05% to 2.08 [1]. - Conversely, BeiJieTe saw a significant decline of 6.94%, closing at 24.80, while other notable decliners included SaiEnSi and GaoNeng Environment, which fell by 6.57% and 5.39%, respectively [2]. Group 2: Trading Volume and Capital Flow - The total trading volume for the environmental governance sector was substantial, with FeiNan Resources achieving a trading volume of 729,600 shares and a transaction value of 1.675 billion [1]. - The sector experienced a net outflow of 615 million from institutional investors, while retail investors saw a net inflow of 237 million, indicating a shift in investor sentiment [2][3]. Group 3: Individual Stock Capital Flow - Among individual stocks, HuaXin Environmental had a net inflow of 24.54 million from institutional investors, while WeiErLi saw a significant net inflow of 22.71 million, indicating strong institutional interest [3]. - Conversely, BeiJieTe experienced a net outflow of 12.63 million from institutional investors, reflecting a negative sentiment towards the stock [3].

Group 1 - The core viewpoint of the news highlights the financial performance and market activity of Sains Environmental Co., Ltd., including stock price movements and financing details [1][2] - On January 26, Sains' stock price increased by 4.98%, with a trading volume of 368 million yuan. The net financing buy was -15.93 million yuan, indicating a higher level of financing activity compared to the past year [1] - As of January 26, the total balance of margin trading for Sains was 117 million yuan, accounting for 1.38% of its market capitalization, which is above the 70th percentile of the past year [1] Group 2 - As of September 30, the number of shareholders for Sains was 2,382, a decrease of 13.91% from the previous period, while the average circulating shares per person increased by 16.16% to 26,803 shares [2] - For the period from January to September 2025, Sains reported a revenue of 677 million yuan, representing a year-on-year growth of 15.81%. However, the net profit attributable to shareholders decreased by 48.32% to 74.04 million yuan [2] - Since its A-share listing, Sains has distributed a total of 156 million yuan in dividends [3]

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The report emphasizes the growth potential in the waste incineration sector, particularly in overseas markets, with a projected investment scale of approximately 250 billion yuan for waste incineration in ASEAN countries and India [10][11] - The report highlights the significant increase in sales of new energy sanitation vehicles, with a year-on-year growth of 70.9% in 2025, indicating a strong trend towards electrification in the sanitation industry [20][30] - The report outlines a strategic focus for 2026, emphasizing value and growth resonance driven by dual carbon goals, with recommendations for companies that can leverage these trends [24][28] Industry Trends - **Waste Incineration Growth**: The report estimates a conservative increase of about 500,000 tons/day in waste incineration capacity in ASEAN and India, corresponding to an investment opportunity of around 250 billion yuan [10] - **Sanitation Equipment**: In 2025, the total amount for successful bids for unmanned sanitation equipment exceeded 12.6 billion yuan, with a year-on-year increase of 150% [17] - **Electric Vehicle Penetration**: The penetration rate of new energy sanitation vehicles reached 21.11% in 2025, up 7.67 percentage points year-on-year [30] Company Recommendations - **Key Recommendations**: The report recommends companies such as Longjing Environmental, Gao Neng Environment, and Sains for their strong growth potential in the waste incineration and sanitation sectors [4] - **Focus on Overseas Growth**: Companies like Weiming Environmental and Sanfeng Environment are highlighted for their potential to exceed expectations in overseas markets [15] - **Dividend and ROE Enhancement**: Companies such as Huanlan Environment and Green Power are noted for their strategies to enhance dividends and return on equity [15][24] Market Performance - **Sanitation Vehicle Sales**: The total sales of sanitation vehicles in 2025 reached 76,346 units, with a year-on-year increase of 8.82% [20] - **New Energy Vehicle Sales**: New energy sanitation vehicle sales reached 16,119 units, reflecting a significant increase of 70.9% year-on-year [20][30] - **Market Concentration**: The report notes that the market concentration for new energy sanitation vehicles is decreasing, with leading companies like Yingfeng Environment and Yutong Heavy Industry maintaining significant market shares [21][34]

Investment Rating - The report maintains an "Overweight" rating for the environmental protection industry [1] Core Insights - The report emphasizes the growth potential in waste incineration and the opportunities for companies to expand overseas, particularly in Southeast Asia and India, where there is a projected increase in waste incineration capacity [10][15] - The report highlights the significant increase in sales of new energy sanitation vehicles and the growth of unmanned sanitation projects, indicating a shift towards automation and electrification in the industry [17][20] - The 2026 strategy focuses on the dual drivers of value and growth, emphasizing the importance of marketization and efficiency improvements in the environmental sector [24][28] Industry Trends - Waste Incineration Growth: The report estimates a potential increase of approximately 500,000 tons/day in waste incineration capacity in ASEAN countries and India, corresponding to an investment scale of about 250 billion yuan [10] - Unmanned Sanitation Equipment: In 2025, the total amount of contracts for unmanned sanitation projects exceeded 12.6 billion yuan, with a year-on-year increase of over 150% [17] - New Energy Sanitation Vehicles: Sales of new energy sanitation vehicles increased by 70.9% in 2025, with a penetration rate of 21.11%, reflecting a growing trend towards electrification in the sanitation sector [20][30] Company Recommendations - Key companies recommended for investment include Longjing Environmental, Gao Neng Environment, Sains, and others, focusing on their growth potential in both domestic and international markets [4][15] - The report suggests that companies like Weiming Environmental and Sanfeng Environment are expected to benefit significantly from overseas expansion and high-value projects [15][24] - The report also highlights the importance of dividend increases and return on equity (ROE) improvements for companies such as Huanlan Environment and Green Power [15][24] Market Dynamics - The report notes that the profitability of waste incineration projects in Indonesia is significantly higher than in China due to favorable pricing and operational conditions [12][15] - The report indicates that the market for lithium battery recycling is improving, with rising metal prices and better margins for recycling projects [38][39]

Core Viewpoint - The environmental governance sector experienced a rise of 0.86% on January 20, with significant gains from specific stocks, while the overall market indices showed slight declines [1]. Group 1: Stock Performance - The top-performing stock in the environmental governance sector was Mians, which closed at 79.52 with a gain of 13.80% and a trading volume of 63,700 shares, amounting to a transaction value of 499 million yuan [1]. - Baichuan Changyin followed with a closing price of 15.08, up 10.40%, with a trading volume of 174,200 shares and a transaction value of 256 million yuan [1]. - Shunkong Development also performed well, closing at 18.73, up 9.98%, with a trading volume of 125,800 shares and a transaction value of 231 million yuan [1]. Group 2: Market Trends - The Shanghai Composite Index closed at 4,113.65, down 0.01%, while the Shenzhen Component Index closed at 14,155.63, down 0.97% [1]. - The environmental governance sector saw a net outflow of 539 million yuan from institutional investors, while retail investors contributed a net inflow of 526 million yuan [2]. Group 3: Capital Flow Analysis - Shunkong Development had a net inflow of 112 million yuan from institutional investors, representing 48.51% of its total capital flow, while retail investors showed a net outflow of 53.25 million yuan [3]. - Guozhong Water had a net inflow of 104 million yuan from institutional investors, accounting for 47.16%, with retail investors experiencing a net outflow of 56.83 million yuan [3]. - Baichuan Changyin recorded a net inflow of 23.30 million yuan from institutional investors, which is 9.11% of its total capital flow, while retail investors had a net outflow of 12.63 million yuan [3].

Investment Rating - The report maintains a "Buy" rating for the environmental protection industry [1] Core Insights - The report emphasizes the importance of Sustainable Aviation Fuel (SAF) as the only viable solution for aviation decarbonization, highlighting the scarcity and value of waste oil resources during the SAF expansion cycle [14][15] - The environmental protection sector is expected to experience significant growth driven by policy support and market dynamics, particularly in waste management and renewable energy [20][21] Industry Trends - The 2026 ecological and environmental work conference set the tone for the industry's upgrade, focusing on source governance and modern monitoring systems [10][11] - The SAF market is projected to see a substantial increase in demand, with the EU mandating a gradual increase in SAF blending ratios from 2% in 2025 to 70% by 2050 [15][16] - The report notes a significant increase in the sales of new energy sanitation vehicles, with a projected growth rate of 70.9% in 2025 [26] Company Recommendations - Key companies recommended for investment include: - Hanlan Environment - Longjing Environmental Protection - Green Power - Everbright Environment - Weiming Environmental Protection - Yuhua Investment - Jinfeng Energy [4] - Companies to watch include: - Dayu Water Saving - Lian Tai Environmental Protection - Wangneng Environment [4] Market Dynamics - The report highlights the increasing value of waste oil resources, driven by the rising demand for SAF and the expansion of production capacity [18] - The report indicates that the price of SAF is expected to rise significantly due to supply constraints, with potential profitability for SAF producers [15][18] Strategic Focus - The report outlines three main strategic focuses for 2026: 1. Value and growth resonance driven by marketization and efficiency improvements in waste management [20] 2. Quality growth through second curve development and AI empowerment in sanitation [22] 3. Carbon neutrality initiatives, emphasizing the importance of renewable resources and waste resource utilization [24]