每(mei)經AI快訊，中國銀河06月12日發布研報稱：給予環保公用推薦（維持）評級。

行(xing)(xing)業(ye)(ye)(ye)觀點：電(dian)(dian)(dian)力(li)(li)(li)方(fang)(fang)面，國(guo)際(ji)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)署最(zui)新報告預計，2023年全球(qiu)(qiu)新增(zeng)可再(zai)生能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)裝機容量將(jiang)(jiang)從(cong)107GW飆升至440GW以上，這是(shi)(shi)有史以來(lai)最(zui)大的增(zeng)幅。2023年太(tai)陽能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)仍將(jiang)(jiang)是(shi)(shi)全球(qiu)(qiu)可再(zai)生能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)產(chan)(chan)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)擴張的主要來(lai)源(yuan)(yuan)，占286GW，其中(zhong)分布(bu)式光伏占到新增(zeng)產(chan)(chan)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)近一(yi)半。環(huan)(huan)保(bao)方(fang)(fang)面，山東(dong)省(sheng)三部委聯合發(fa)(fa)布(bu)《山東(dong)省(sheng)工(gong)業(ye)(ye)(ye)領(ling)域碳(tan)達峰工(gong)作(zuo)方(fang)(fang)案》，包括6項重點任務(wu)，一(yi)是(shi)(shi)調(diao)整產(chan)(chan)業(ye)(ye)(ye)結(jie)構，構建低碳(tan)工(gong)業(ye)(ye)(ye)體(ti)系(xi)；二(er)是(shi)(shi)強(qiang)(qiang)化(hua)(hua)(hua)(hua)節能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)降(jiang)碳(tan)，提(ti)高能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)利用(yong)效(xiao)率；三是(shi)(shi)推(tui)行(xing)(xing)綠色(se)(se)制造(zao)，打造(zao)綠色(se)(se)低碳(tan)載(zai)體(ti)；四是(shi)(shi)發(fa)(fa)展循環(huan)(huan)經濟(ji)，優化(hua)(hua)(hua)(hua)資(zi)(zi)源(yuan)(yuan)配(pei)置結(jie)構；五是(shi)(shi)強(qiang)(qiang)化(hua)(hua)(hua)(hua)技(ji)術(shu)創新，推(tui)進(jin)低碳(tan)技(ji)術(shu)變(bian)革；六(liu)是(shi)(shi)加(jia)快智能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)融合，賦能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)綠色(se)(se)低碳(tan)轉型。投(tou)資(zi)(zi)策略及推(tui)薦關注(zhu)標的：公用(yong)：甘(gan)肅(su)(su)電(dian)(dian)(dian)力(li)(li)(li)需(xu)(xu)(xu)求(qiu)響(xiang)(xiang)應(ying)(ying)(ying)(ying)市場(chang)進(jin)入連續結(jie)算試運(yun)行(xing)(xing)階段。甘(gan)肅(su)(su)省(sheng)是(shi)(shi)西北地區首個(ge)以市場(chang)化(hua)(hua)(hua)(hua)方(fang)(fang)式開展電(dian)(dian)(dian)力(li)(li)(li)需(xu)(xu)(xu)求(qiu)響(xiang)(xiang)應(ying)(ying)(ying)(ying)的省(sheng)份。截至5月(yue)31日(ri)，甘(gan)肅(su)(su)電(dian)(dian)(dian)力(li)(li)(li)需(xu)(xu)(xu)求(qiu)響(xiang)(xiang)應(ying)(ying)(ying)(ying)市場(chang)注(zhu)冊(ce)用(yong)戶共79戶，最(zui)大響(xiang)(xiang)應(ying)(ying)(ying)(ying)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)力(li)(li)(li)約95萬千瓦(wa)，模擬啟動(dong)需(xu)(xu)(xu)求(qiu)響(xiang)(xiang)應(ying)(ying)(ying)(ying)市場(chang)12次。根據(ju)《“十(shi)四五”現代能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)體(ti)系(xi)規(gui)(gui)劃(hua)》，十(shi)四五期(qi)間加(jia)強(qiang)(qiang)電(dian)(dian)(dian)力(li)(li)(li)需(xu)(xu)(xu)求(qiu)側(ce)(ce)響(xiang)(xiang)應(ying)(ying)(ying)(ying)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)力(li)(li)(li)建設(she)，力(li)(li)(li)爭到2025年，電(dian)(dian)(dian)力(li)(li)(li)需(xu)(xu)(xu)求(qiu)側(ce)(ce)響(xiang)(xiang)應(ying)(ying)(ying)(ying)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)力(li)(li)(li)達到最(zui)大用(yong)電(dian)(dian)(dian)負荷(he)的3%-5%。隨(sui)著(zhu)(zhu)新能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)裝機占比提(ti)高帶來(lai)的電(dian)(dian)(dian)網(wang)波動(dong)性加(jia)大，需(xu)(xu)(xu)求(qiu)側(ce)(ce)響(xiang)(xiang)應(ying)(ying)(ying)(ying)市場(chang)空間廣闊(kuo)。建議關注(zhu)：三峽能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)（600905.SH）、龍源(yuan)(yuan)電(dian)(dian)(dian)力(li)(li)(li)（001289.SZ）、芯能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)科(ke)(ke)技(ji)（603105.SH）、太(tai)陽能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)（000591.SZ）、中(zhong)閩能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)（600163.SH）、江蘇新能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)（603693.SH）、華(hua)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)國(guo)際(ji)（600011.SH）、國(guo)電(dian)(dian)(dian)電(dian)(dian)(dian)力(li)(li)(li)（600795.SH）、大唐發(fa)(fa)電(dian)(dian)(dian)（601991.SH）、浙能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)電(dian)(dian)(dian)力(li)(li)(li)（600023.SH）、江蘇國(guo)信(xin)（002608.SZ）、皖能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)電(dian)(dian)(dian)力(li)(li)(li)（000543.SZ）、福能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)股份（600483.SH）、粵電(dian)(dian)(dian)力(li)(li)(li)A（000539.SZ）、上海電(dian)(dian)(dian)力(li)(li)(li)（600021.SH）、寶新能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)（000690.SZ）、協(xie)鑫能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)科(ke)(ke)（002015.SZ）、華(hua)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)水電(dian)(dian)(dian)（600025.SH）、川投(tou)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)（600674.SH）、九豐能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)（605090.SH）、新奧股份（600803.SH）。環(huan)(huan)保(bao)：加(jia)強(qiang)(qiang)危(wei)廢(fei)(fei)(fei)(fei)規(gui)(gui)范化(hua)(hua)(hua)(hua)管理(li)(li)水平(ping)，行(xing)(xing)業(ye)(ye)(ye)集中(zhong)度有望提(ti)升。近日(ri)，生態環(huan)(huan)境部就《關于(yu)進(jin)一(yi)步加(jia)強(qiang)(qiang)危(wei)險(xian)廢(fei)(fei)(fei)(fei)物規(gui)(gui)范化(hua)(hua)(hua)(hua)環(huan)(huan)境管理(li)(li)有關工(gong)作(zuo)的通知》公開征求(qiu)意見，《通知》提(ti)出持續深化(hua)(hua)(hua)(hua)危(wei)險(xian)廢(fei)(fei)(fei)(fei)物規(gui)(gui)范化(hua)(hua)(hua)(hua)環(huan)(huan)境管理(li)(li)評(ping)估工(gong)作(zuo)、運(yun)用(yong)信(xin)息化(hua)(hua)(hua)(hua)手段提(ti)升危(wei)險(xian)廢(fei)(fei)(fei)(fei)物規(gui)(gui)范化(hua)(hua)(hua)(hua)環(huan)(huan)境管理(li)(li)水平(ping)、強(qiang)(qiang)化(hua)(hua)(hua)(hua)危(wei)險(xian)廢(fei)(fei)(fei)(fei)物規(gui)(gui)范化(hua)(hua)(hua)(hua)環(huan)(huan)境管理(li)(li)評(ping)估結(jie)果(guo)應(ying)(ying)(ying)(ying)用(yong)等(deng)要求(qiu)。我國(guo)工(gong)業(ye)(ye)(ye)門類全，產(chan)(chan)廢(fei)(fei)(fei)(fei)行(xing)(xing)業(ye)(ye)(ye)多(duo)，對于(yu)危(wei)廢(fei)(fei)(fei)(fei)信(xin)息化(hua)(hua)(hua)(hua)管理(li)(li)有助(zhu)于(yu)緩解(jie)產(chan)(chan)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)錯配(pei)帶來(lai)的處置能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)力(li)(li)(li)缺(que)口，集中(zhong)度進(jin)一(yi)步提(ti)升，也助(zhu)于(yu)危(wei)廢(fei)(fei)(fei)(fei)處置向(xiang)著(zhu)(zhu)資(zi)(zi)源(yuan)(yuan)化(hua)(hua)(hua)(hua)的方(fang)(fang)向(xiang)轉變(bian)。建議關注(zhu)：景津裝備（603279.SH）、仕凈(jing)科(ke)(ke)技(ji)（301030.SZ）、盛劍(jian)環(huan)(huan)境（603324.SH）、國(guo)林科(ke)(ke)技(ji)（300786.SZ）、美埃科(ke)(ke)技(ji)（688376.SH）、聚光科(ke)(ke)技(ji)（300203.SZ）、瑞晨環(huan)(huan)保(bao)（301273.SZ）、久吾高科(ke)(ke)（300631.SZ）、偉明環(huan)(huan)保(bao)（603568.SH）、高能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)環(huan)(huan)境（603588.SH）、路(lu)德環(huan)(huan)境（688156.SZ）、山高環(huan)(huan)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)(neng)（000803.SZ）、賽恩(en)斯（688480.SH）、瀚藍環(huan)(huan)境（600323.SH）。行(xing)(xing)業(ye)(ye)(ye)數據(ju)。

行(xing)業動態：1、國際能(neng)源署：2024年全(quan)球太陽(yang)能(neng)新增裝機將達(da)310GW2、甘肅電力(li)(li)需求(qiu)(qiu)響(xiang)應市(shi)場(chang)進(jin)入連續(xu)結算試運行(xing)階(jie)段3、廣(guang)東：未按要求(qiu)(qiu)配儲的(de)(de)新能(neng)源項目，電網(wang)公(gong)司(si)原則上不(bu)予調度(du)、不(bu)收購電力(li)(li)電量4、生態環(huan)境部就《關于進(jin)一(yi)步加強危險廢物(wu)規范化環(huan)境管理(li)有(you)關工(gong)(gong)作的(de)(de)通知》公(gong)開征(zheng)求(qiu)(qiu)意見5、《山(shan)東省(sheng)工(gong)(gong)業領域(yu)碳達(da)峰工(gong)(gong)作方案》發布6、江蘇省(sheng)深入打好重(zhong)污(wu)(wu)染天氣消(xiao)除(chu)、臭氧污(wu)(wu)染防治和柴油(you)貨車(che)污(wu)(wu)染治理(li)攻堅(jian)戰(zhan)行(xing)動實施方案。

行業表現：環保(bao)：本(ben)周(zhou)環保(bao)指(zhi)數(shu)(shu)（申萬）漲(zhang)跌幅為(wei)(wei)-1.56%，相對(dui)滬深(shen)300指(zhi)數(shu)(shu)變化-0.91%，其中*ST京藍、超越科技、ST星源漲(zhang)幅分(fen)別為(wei)(wei)27.70%、23.11%、12.87%,表現較(jiao)(jiao)好；而艾(ai)布魯、聚光科技、皖儀(yi)科技跌幅分(fen)別為(wei)(wei)-7.06%、-9.38%、-10.17%，表現較(jiao)(jiao)差。目(mu)前環保(bao)行業PE(TTM)21.62倍(bei)、PB(LF)1.47倍(bei)。公用事(shi)業：本(ben)周(zhou)公用事(shi)業指(zhi)數(shu)(shu)（申萬）漲(zhang)跌幅為(wei)(wei)-0.09%，相對(dui)滬深(shen)300指(zhi)數(shu)(shu)變化0.56%，其中世(shi)茂能(neng)源、協(xie)鑫能(neng)科、深(shen)南(nan)電(dian)A漲(zhang)幅分(fen)別為(wei)(wei)9.05%、7.15%、7.00%,表現較(jiao)(jiao)好；而杭州熱電(dian)、西昌(chang)電(dian)力、南(nan)網儲能(neng)跌幅分(fen)別為(wei)(wei)-6.77%、-7.00%、-11.10%，表現較(jiao)(jiao)差。目(mu)前公用事(shi)業行業PE(TTM)24.98倍(bei)、PB(LF)1.70倍(bei)。碳(tan)市(shi)場：本(ben)周(zhou)全(quan)國碳(tan)市(shi)場碳(tan)排放配(pei)額(e)（CEA）總成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)量104,560噸，總成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)額(e)4,562,816.00元(yuan)(yuan)。掛牌(pai)協(xie)議交(jiao)(jiao)易周(zhou)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)量4,560噸，周(zhou)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)額(e)266,816.00元(yuan)(yuan)，最高成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)價(jia)58.60元(yuan)(yuan)/噸，最低(di)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)價(jia)58.50元(yuan)(yuan)/噸，本(ben)周(zhou)五收(shou)盤價(jia)為(wei)(wei)58.50元(yuan)(yuan)/噸，與(yu)上周(zhou)五收(shou)盤價(jia)持平。大宗協(xie)議交(jiao)(jiao)易周(zhou)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)量100,000噸，周(zhou)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)額(e)4,296,000.00元(yuan)(yuan)。截至(zhi)本(ben)周(zhou)，全(quan)國碳(tan)市(shi)場碳(tan)排放配(pei)額(e)（CEA）累(lei)計(ji)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)量235,588,713噸，累(lei)計(ji)成(cheng)(cheng)(cheng)(cheng)交(jiao)(jiao)額(e)10,796,028,933.35元(yuan)(yuan)。

風(feng)險(xian)提示：原料價格大(da)幅波動(dong)的(de)風(feng)險(xian)；下游需求不(bu)及預(yu)期的(de)風(feng)險(xian)；政(zheng)策執行(xing)力度不(bu)及預(yu)期的(de)風(feng)險(xian)；行(xing)業(ye)競爭加劇的(de)風(feng)險(xian)；政(zheng)策調控壓力下煤價大(da)幅下跌的(de)風(feng)險(xian)。

每經(jing)頭(tou)條(tiao)（nbdtoutiao）——

(記者 蔡鼎)

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