MBEBENV@EC2703A

Everbright Environment completes issuance of 2 billion yuan medium-term note

CICC Maintains Overweight Rating on MSAGroup with Positive Earnings Outlook

BoA Reiterates Buy Rating on China Everbright Environment with Target Price Raised to HKD6.2

Everbright Environmental China Completes Issuance of 787 Million Yuan Green 定向 Asset-Backed Notes

Everbright Environment Receives CSROA's Registration Acceptance Notice for Proposed Asset-Backed Notes Issuance

BofA Securities Sees Positive Outlook for China Everbright Environment's A-Share Issuance

China Everbright International and Partners Invest in Uzbekistan's Waste-to-Energy Projects

HSBC Research: Renewable Energy Companies See Progress in Receivables, Industry Prospects Look Good

Guotai Haitong: Everbright Green Energy Receives 2.064 Billion RMB Subsidy, Exceeding Expectations

Everbright Environment Announces 2025 H1 Results, Waste Incineration Sector Faces Survival Challenges

HSBC Research Maintains Buy Rating for China Everbright Environment and Raises Target Price

Citi Raises Environmental Prospects, Raises Target Price to HKD 5.3

EB ENVIRONMENT released FY2025 Q1 earnings on August 22 (BJT), actual revenue HKD 7.152 B, actual EPS HKD 0.1796

EB ENVIRONMENT released FY2025 Q2 earnings on August 22 Pre-Market (BJT), actual revenue HKD 7.152 B, actual EPS HKD 0.1796

EB ENVIRONMENT released FY2025 Semi-Annual Earnings on August 22 Pre-Market (BJT), actual revenue HKD 14.3 B, actual EPS HKD 0.3592

EB ENVIRONMENT to release FY2025 Semi-Annual earnings report on August 22, 2025 (BJT)

ESG Rating of China Everbright Environment Receives A Grade

Everbright Environmental China Issues 1 Billion Yuan Sci-tech Bond

Everbright Environment Establishes Sustainable Development Committee

GUANZE MEDICAL

PCPD

STARCOIN GROUP

HUILI RES

TIMES UNI GP

MANY IDEA CLOUD

WALNUT CAP

SILKWAVE INC

HUA LIEN INT'L

WAI CHUN GROUP

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China Everbright Environment Group Ltd. has successfully completed the issuance of its 2026 Medium-term Notes (Series 1) with a total volume of up to RMB 15 billion at par value. The bonds were placed at an interest rate of 2.15% per annum to institutional investors in the Chinese interbank market. The net proceeds will be used entirely for the repayment of existing medium-term bonds of the company within China.

Reuters

GF China Security Environmental Protection Industry ETF

China Southern CSI SEEE CARBON NEUTRAL ETF

EB ENVIRONMENT

China Everbright Environment Group Ltd. schließt Emission von 2026-Medium-Term-Notes ab

Bank of America Securities has a positive outlook on EB ENVIRONMENT's plan to issue RMB shares, expecting this move to attract more mainland investors and prompt the company to adopt a clearer dividend policy, potentially triggering a valuation reassessment. Bank of America Securities reiterated a "Buy" rating with a target price of 5.3 yuan

AASTOCKS

Bank of America Securities has a positive outlook on EB ENVIRONMENT's plan for A-shares, expecting a valuation reassessment

EB ENVIRONMENT announced that it plans to issue RMB shares and list on the Shenzhen Stock Exchange. The proposed issuance scale will not exceed 800 million shares, and the raised funds are intended for the development of its main business and to supplement general working capital

EB ENVIRONMENT plans to issue RMB shares and list on the Shenzhen Stock Exchange

EB ENVIRONMENT (0257.HK) has shown strong gains in recent trading days, with a significant increase in trading volume. The daily MACD golden cross has formed, and the simultaneous rise in volume and price has driven the stock price to continuously break through short-term moving average resistance. The combination of favorable industry policies and environmental protection themes has led to a continuous inflow of mainline funds, highlighting the capital's preference for leading stocks. 

From a fundamental perspective, the company benefits from the expansion of waste-to-energy and green businesses, with performance expected to continue growing. The dividends from carbon neutrality and ecological environmental protection policies support this, and there is a strong willingness for capital to cluster together. However, observing the market, as the speed of volume increases, the short-term overbought risk gradually accumulates, and some funds show a willingness to take profits. 

In terms of operations, the battle for the 7 HKD mark serves as a watershed; if the volume continues to increase and stabilizes above this line, there may be potential for an upward movement to the 7.5 HKD range. Otherwise, short-term chip games may lead to a pullback and consolidation in the 6.6-6.8 HKD range. Investors should pay attention to certain abnormal signals and closely monitor sector rotation and marginal changes in policies. 

In summary, EB ENVIRONMENT's main upward momentum remains strong, but volatility at high levels is intense, and the strategy should focus on quick entry and exit. It is advisable to manage positions and profit-taking points carefully, and avoid heavily chasing gains at high levels during fluctuations

Technical Forecast

Morning Trend | EB ENVIRONMENT surges with increased volume, how long can the mainline funds hold on?

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On October 20, 2025, the investment log of Hong Kong-listed companies is as follows: Category Company New Share Activities Guanghe Tong (Pricing Date) Earnings Announcement Date CATL China State Construction Industry Delicate Machinery JLMAG China Electronics Corporation Shareholders' Meeting Date Zhongtai Futures Jiangxi Copper Co., Ltd. UNITY ENT Dongfang Securities CHINACOMSERVICE Fosun Pharma Fosun International Yunnan Water Wapus Ruiyuan Metaverse Tianchen Holdings Dividend Distribution Shanghai Pioneer Holdings (Dividend Date) Haier Smart Home (Ex-Dividend Date) China National Foreign Trade (Dividend Date) EB ENVIRONMENT (Dividend Date) TIMES ELECTRIC (Dividend Date) Weidong Delicious (Dividend Date) Gao Sheng Group Holdings (Dividend Date)

Zhitong

TAK LEE MACH

CHINACOMSERVICE

JLMAG

UNITY ENT

Times Electric

TIMES ELECTRIC

Zhitong Hong Kong Stock Investment Journal | October 20

EB ENVIRONMENT plans to establish a joint venture to layout waste-to-energy business in Uzbekistan

EB ENVIRONMENT plans to establish a joint venture to deploy waste-to-energy business in Uzbekistan

Everbright Environment's wholly-owned subsidiary, Everbright Environmental Protection (China) Co., Ltd., has applied to the China Interbank Market Dealers Association for the registration to issue asset-backed notes not exceeding RMB 4 billion. The specific issuance scale will be determined based on funding needs and market conditions, with the issuance target being institutional investors in the national interbank bond market. The notes will be issued within two years after receiving the registration notice

EB ENVIRONMENT's subsidiary applies to the China Interbank Market Dealers Association for registration and issuance of asset-backed notes not exceeding 4 billion yuan

Yesterday after the market closed, EB ENVIRONMENT saw a surge in short-term buying enthusiasm, closing with gains for three consecutive days, and the capital flow became more active. The stock price has moved away from the consolidation phase, signaling the start of a rebound, with main funds regrouping once again. The environmental protection industry has recently attracted a new wave of attention, as national green industry policies gradually take effect, with positive news boosting momentum and attracting various funds to rotate within the sector. The company officially announced the launch of a new waste incineration project, becoming the focal point that catalyzes short-term trading enthusiasm. Supported by technical factors, the bullish pattern during the trading session is becoming clearer, with a warming trading atmosphere and more frequent capital movements. However, the market faces pressure from previous highs and overall sector risk appetite fluctuations, leaving uncertainty in future performance. As long as buying remains active and can break through the high point range, the right-side trading space can be further explored by the market. 

On the industry front, the direction of environmental protection policies is clear, and funds are undeterred by temporary fluctuations, with profit-making effects gradually being released. Under the stimulus of announcements, the short-term crowding of funds has increased, and market participation enthusiasm is expected to continue. Main funds are focusing on the green economy and the progress of policy implementation. Considering the accelerated rotation speed of the sector, the pressure of pullbacks should not be underestimated when there is a lack of effective support during trading. Attention should be paid to the movements of main funds and marginal policy changes, and signals of weakening during trading should be tracked in a timely manner to avoid disorderly expansion of risk exposure

Morning Trend | EB ENVIRONMENT (257.HK) shows initial rebound on October 15, environmental protection sector sentiment heats up

Yesterday, EB ENVIRONMENT briefly stabilized and rebounded, as bottom funds sensed a slowdown in downside risks and took action. The daily structure significantly broke free from consecutive days of gloom, with bulls clearly replenishing positions in the short term. Technical signals during the session indicated a willingness to reverse, with active funds continuously boosting market momentum, and the bullish atmosphere gradually warming up. Especially during the closing period, a volume increase was observed, indicating the main force's strengthened willingness to enter the market. Recently, policies have been intensively released across various regions, accelerating the implementation of waste classification pilot programs, and the environmental protection sector has once again attracted funds, with some brokerages raising ratings and increasing the company's visibility. 

From the transaction structure, some institutional funds tested high positions during the session but focused more on the sustainability of continuous volume. Right-side traders are paying attention to the strength of pullbacks and low-level support performance. After the stock price returned to the key support line, the short-term upward space was clearly released, and once stabilized, it may drive more short-term funds to rotate and layout. Recently, favorable events for environmental protection have emerged frequently, combined with EB ENVIRONMENT's stable cash flow and project reserves, becoming an important consideration for large funds to reallocate. The turnover rate of funds in the industry sector is high, and short-term sentiment fluctuates significantly. If there is a divergence in volume and price or if policy expectations weaken marginally, the rebound momentum during the session may change at any time. Some funds choose to enter and exit quickly, amplifying the risk exposure of chasing gains. During this phase, intraday fluctuations have intensified, and investors need to dynamically track policy news and the inflow and outflow of large orders to enhance defense and improve the odds of success in speculation. Overall, attention should be paid to the degree of policy implementation, the progress of corporate projects, and the sustainability of actual logic

Morning Trend | EB ENVIRONMENT (257.HK) surged from a low on October 14, with a recovery in sentiment in the environmental protection sector

According to the Zhitong Finance APP, EB ENVIRONMENT announced that independent non-executive director Ms. Li Shuxian will no longer serve as a member of the company's Risk Management Committee, effective October 10, 2025. After considering the recommendations of the company's Nomination Committee, the board appointed non-executive director Mr. Kang Guoming as a member of the Risk Management Committee, effective October 10, 2025

EB ENVIRONMENT appoints Kang Guoming as a member of the Risk Management Committee

The National Development and Reform Commission and the National Energy Administration jointly issued a green electricity direct connection policy aimed at promoting the integration of new energy and corporate green energy use, supporting the coordinated development of waste incineration power generation and data centers. Cinda Securities believes that this policy will optimize grid allocation and promote the revaluation of waste power generation companies, with industry revenue expected to stabilize and rebound in 2025. The related Hong Kong stock EB ENVIRONMENT reported a 10% year-on-year decline in net profit for the first half of the year, but a 23% increase in pre-tax profit, and Bank of America Securities reiterated its "Buy" rating

Hong Kong Stock Concept Tracking | Demand for Waste-to-Energy is Expected to Experience Rapid Growth, Undervalued Companies are Likely to See Revaluation (with Concept Stocks)

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HSBC Global Research pointed out that there has been good progress in the settlement of renewable energy subsidies, with companies such as CHINA LONGYUAN, EB ENVIRONMENT, and Xiexin Technology receiving government receivables. The report believes that the government will take renewable energy investment more seriously in 2025, and utility companies will receive more cash settlements. HSBC has given CHINA LONGYUAN and EB ENVIRONMENT a "Buy" rating, with target prices of 8.8 yuan and 21 yuan, respectively

CHINA LONGYUAN

"Large Banks" Research: Good progress in renewable energy subsidy settlement, gives "Buy" rating to CHINA LONGYUAN, EB ENVIRONMENT, Xiexin Technology, and Xinyi Solar

MBEBENV@EC2703A(20430.HK)

China Everbright Environment Group Ltd. schließt Emission von 2026-Medium-Term-Notes ab

Bank of America Securities has a positive outlook on EB ENVIRONMENT's plan for A-shares, expecting a valuation reassessment

EB ENVIRONMENT plans to issue RMB shares and list on the Shenzhen Stock Exchange

Morning Trend | EB ENVIRONMENT surges with increased volume, how long can the mainline funds hold on?

Zhitong Hong Kong Stock Investment Journal | October 20