Key investment points
Event: on February 9, the general office of the State Council forwarded the guiding opinions on accelerating the construction of urban environmental infrastructure issued by the national development and Reform Commission and other departments.
Further clarify the objectives of urban environmental infrastructure in the 14th five year plan, help tackle key problems in pollution prevention and control, and ensure stable growth. The 14th five year plan calls for comprehensively improving the level of environmental infrastructure and building an environmental infrastructure system integrating facilities and monitoring and supervision capabilities in four areas: sewage, garbage, solid waste, hazardous waste and medical waste treatment and disposal; The guidance specifies the quantitative objectives in four major areas, proposes to make up for weaknesses, improve the level, and increase support to ensure the realization of the objectives and achieve stable economic growth.
We will continue the quantitative objectives in the four major areas and accelerate the urban environmental infrastructure in 2025. On the basis of maintaining the quantitative objectives in the four areas in the development plan for urban sewage treatment and resource utilization in the 14th five year plan, the guiding opinions on the comprehensive utilization of bulk solid wastes in the 14th five year plan, and the work plan for national standardized environmental management assessment of hazardous wastes in the 14th five year plan, the guiding opinions put forward to make up for the shortcomings Improve the security system and other measures to accelerate urban environmental infrastructure. The quantitative objectives of the four areas are as follows: 1) sewage treatment and resource utilization: the new sewage treatment capacity is 20 million m3 / day, the new and reconstructed sewage collection pipe network is 80000 km, the new, reconstructed and expanded reclaimed water production capacity is no less than 15 million m3 / day, the sewage treatment rate of the county is more than 95%, and the sewage resource utilization rate of water deficient cities at prefecture level and above is more than 25%, The harmless disposal rate of urban sludge reached 90%, promoting the full coverage of urban sewage pipe network and “plant network integration”; 2) Domestic waste treatment: the classified collection and transportation capacity is about 700000 tons / day, the incineration capacity of urban domestic waste is about 800000 tons / day, the resource utilization rate of urban domestic waste is about 60%, and the incineration capacity accounts for about 65% of harmless treatment. The construction of waste incineration treatment facilities is accelerated in areas with a daily clearance of more than 300 tons; 3) Solid waste disposal: increase the comprehensive utilization rate of bulk solid waste to 60%, carry out 100 comprehensive utilization demonstration of bulk solid waste, and promote the utilization and disposal of waste batteries, waste plastics and waste household appliances; 4) Disposal of hazardous waste and medical waste: build 6 national and regional risk prevention and control technology centers for hazardous waste and 20 regional centralized disposal centers for special hazardous waste, basically supplement the shortcomings of hazardous waste and medical waste collection and treatment facilities, fully ensure the disposal capacity of hazardous waste, and further improve the technology and operation level, All medical wastes in urban built-up areas above the county level will be disposed of innocuously.
In 2022, the special debt will be invested in nine fields, and the supplementary application projects will benefit the construction of urban pipe network and water conservancy. The Ministry of Finance and the national development and Reform Commission issued a notice in October 2021, requiring local governments to declare the demand for special bonds in 2022, focusing on the investment of special bonds in transportation infrastructure, energy, agriculture, forestry and water conservancy, ecological and environmental protection, social undertakings, urban and rural cold chain and other logistics infrastructure, municipal and industrial park infrastructure, major national strategic projects, affordable housing projects and other special bond fields, Give priority to supporting projects incorporated into the national and local “14th five year plan”. According to the 21st financial report, the supervision requires local governments to make up a number of special debt projects, and take key areas such as urban pipe network construction and water conservancy as the focus of the supplementary report. The field of urban pipe network and water affairs is expected to receive more financial support.
Under the tone of steady growth, accelerate the construction of urban environmental infrastructure, increase financial investment, promote pollution protection and treatment, and focus on the subdivided fields such as renewable resources, waste incineration, water affairs and sanitation electrification. 1) Renewable resources: market-oriented and most economical carbon reduction, power battery recycling [ Miracle Automation Engineering Co.Ltd(002009) ]; Recycled plastics [ Beijing Sanlian Hope Shin-Gosentechnical Service Co.Ltd(300384) ], [ Shandong Intco Recycling Resources Co.Ltd(688087) ]; Hazardous waste recycling [ Beijing Geoenviron Engineering & Technology Inc(603588) ]; Waste household appliances [ China Resourcesand Environment Co.Ltd(600217) ]; It is suggested to pay attention to the resource utilization of distiller’s grains [ Road Environment Technology Co.Ltd(688156) ]; 2) Waste incineration: business model C-end transformation & carbon value increment cash flow improvement [Everbright environment], [ Dynagreen Environmental Protection Group Co.Ltd(601330) ], [ Grandblue Environment Co.Ltd(600323) ]; It is recommended to pay attention to [ Zhejiang Weiming Environment Protection Co.Ltd(603568) ] and [ Chongqing Sanfeng Environment Group Corp.Ltd(601827) ]. 3) Sanitation Electrification: sanitation new energy has helped carbon peak 50 times in the past decade [ Yutong Heavy Industries Co.Ltd(600817) ]. 4) Methane utilization: the elasticity of landfill gas resource reduction is the largest [ Henan Bccy Environmental Energy Co.Ltd(300614) ]. 5) Water: upgrading of direct drinking water consumption [China water]; Revaluation of water services [ Jiangxi Hongcheng Environment Co.Ltd(600461) ]. 6) Pipe network construction: it is suggested to pay attention to [ Yonggao Co.Ltd(002641) ], [ Guangdong Xiongsu Technology Group Co.Ltd(300599) ], [ Fujian Superpipe Co.Ltd(300198) ], [ Shandong Donghong Pipe Industry Co.Ltd(603856) ] and [China Liansu].
Risk tip: the policy promotion is lower than expected, the financial expenditure is lower than expected, and the industry competition is intensified.
