行情中心 沪深京A股 上证指数 板块行情 股市异动 专题 涨跌情报站 盯盘 港股 研究所 直播 股票开户 智能选股
全球指数
数据中心 资金流向 龙虎榜 融资融券 沪深港通 比价数据 研报数据 公告掘金 新股申购 大宗交易 业绩速递

正和生态:北京德皓国际会计师事务所(特殊普通合伙)关于《上海证券交易所关于北京正和恒基滨水生态环境治理股份有限公司2025年年度报告的信息披露监管问询函》的回复

上海证券交易所 06-24 00:00 查看全文

2025

[2026]00000129

“”“”2025

202520260923

“”

3.60-1.57

1.4641%

3.51

97.55%

2——12025

20252025

20252025

2025 2025 Q4 Q4 2025

Q3 Q4

1202495227.852024102026678%89%1107.906621.211043.966144.588099.74

2202565039.93202562026120%90%4162.814162.814110.184110.184455.42

3202489759.342024102026648%57%1216.253960.641142.293672.746940.08

(

4202554646.55202552026643%77%1287.192903.751185.032715.022783.26

)

5202497438.082024102026648%64%1124.312793.71989.972681.134345.94

62024411678.412024420251297%100%285.972479.041081.663454.149094.04

72023312444.91202322026885%90%530.841937.71516.231841.329860.2420252025

20252025

2025 2025 Q4 Q4 2025

Q3 Q4

()

8-2025112324.70202510202660%96%1930.411930.411821.701821.702146.83

()

9-2025112673.19202510202660%69%1633.071633.071551.081551.081526.87

2025

“”

10202532570.93202562026663%68%122.871603.06115.401471.84967.19

EPC

112024122469.522024122026641%68%610.361535.18488.291228.15912.72

12202511000.30202542026670%98%269.63949.76250.24893.521016.2320252025

20252025

2025 2025 Q4 Q4 2025

Q3 Q4

13202561334.54202510202660%81%934.84934.84886.96886.96784.75

142021844500.002021820261295%95%178.17826.58109.63508.0922974.29

PPP

15202491471.142024102026647%80%557.10738.59555.09730.521427.10

1620254585.122025620251281%100%123.46660.27117.35631.34585.12

(

)

1720255784.0520257202660%91%651.40651.40611.64611.64720.82

()

18202491144.792024102026661%72%192.26601.51221.81628.471298.27

1920252212.852025620251263%100%224.55599.68253.69616.17660.5020252025

20252025

2025 2025 Q4 Q4 2025

Q3 Q4

105

20202561066.8520259202660%60%545.91545.91533.53533.53616.88

()

21202591091.032025102025120%100%509.10509.10487.38487.38554.92

-

“”

2220256598.752025102025120%100%491.31491.31466.99466.99399.81

2024

23202510771.492025102025120%100%475.61475.61451.80451.80519.93

2420249542.232024102026649%85%311.98412.48349.12453.63825.00

2520254364.02202510202650%99%336.33336.33321.37321.37377.65

-()

262022“2022102941.9320221120253100%100%45.8975.320.64159.682500.8320252025

20252025

2025 2025 Q4 Q4 2025

Q3 Q4”“”

(EPCO)

272020936000.002020820226100%100%-1646.75-1646.75-55.88-398.2246762.86

EPC

282019115570.1620181120196100%100%-2061.68-2061.68--6.0817153.59

29///////22.1492.21--0.00/

30///////-1599.37-1595.9532.75145.92/

281317

281217192021232025>22202510251

2÷×100%

3=×-

1

5%

2

//

22025

14.

14.1224.66224.66

5.4

5.4.1

10

(

/

5.4.2

14.2

15227.85

/349.92259.93

14.3

14.3.122.2

22.2.1

)

10

22.2.2

:

14.3.2(1)2025

;(2)

25;(3)

90%

;

14.3.3(4)

1

/

2

10;

(5)

;(6)

22.2.3

14.2.

25039.931196.691196.69

14.12.22025

2.2.2

7

4

10

/3.

3.1

3.1.1

14.2

3.1.2

/

14.3

14.3.1

3.1.3

10

3.1.4

14.3.2

14.3.3

12025

/

2

10

14.

14.1245.350.00

22.229.500.00

22.1

10

737.930.00

/

39759.34

284.90284.90

14.2

/

14.3

14.3.1

186.41186.41

22.2

1022.2.12025

14.3.222.2.2

1

14.3.3

1

/

22

10

3

4

5

22.2.3

14.

44646.55253.24253.24

(14.12025

)

253.80253.80

()

30%(

50%

100%)

30%

10

202.89202.89

14.2

14.3

14.3.12025

10

14.3.2

14.3.3

1

2

10

14

80%(

)

80%

(724)2025

(2021

12)

80%(

80%)

10

14.

14.1833.6679.60

5

7438.08430.4352.11

10

777.20777.20

/343.48343.482025

14.2

/

14.3

14.3.1

10

14.3.2

14.3.3

1

/

2

1014——

1

2

14——

346479.43

45608.50870.93“+”20261

20262

“”

2——

202536002.61

18.98

0.0527%/

1.

18.98

2.

0

3.

0

4.

0

5.0

6.0

18.98

1.

0

2.

0

3.0

4.

0

5.0

6.0

0

0

35983.63/1

2

3

4

5

100.00%77.28%57.27%

15

92%

2——2025

4.65

1.4119.02%

1

21

2025

2022

20.1

44500.0039055.6619510.8395%54%

PPP

20.2

20.3

5227.858941.081603.0189%83%2025

××

×÷30×

/

26252610

(

)12444.919867.41971.4990%91%

20.1.225

5

2

9759.347299.61891.4257%89%

××2025

×÷30×

/“”

2570.931603.06768.4768%56%

××

EPC

×÷30×

/

=/=

/

2025

302

27392.3425032.673873.912021686%

202482025

60200

-4650.314387.092920.312023937%

()

1700

14

11678.4110714.142584.3720251278%

14

:2025

14

3316.41

82%

30

80%

4054.703753.502284.512024144%

60

EPC

1)

7

5950.604902.262217.422022159%2025

28

2)

3)

4)

7

7

5)

([2004]369)

20700.0418990.831543.582021493%2025

-

9.4.2

15247.0814864.081225.062023392%

9.4.3

2

17.5.3.3

10982.3312282.581210.0020191291%

EPC

-

5%

28

--4638.15965.791052.71202160%

302025

30.1

30.228

200

11934.4310058.62914.672019692%

9809.81

220251231

11-22-33-44-55

28330.008233.272815.383452.8210021.673806.86--

19840.14-3430.172217.425582.32943.447666.7910377.96

3459.22----3208.20251.031855.12

7520.454284.88--3235.57--1102.65

839.50--373.29466.21--177.19

59989.3212518.156245.556043.5319305.787958.507917.8113512.92

22——

1)2

3

1

22

1.

2.3.

5%

1./10%15%

2.“30%50%+/”3.100%

14——1.

0%2.

1

1

3%1-2

5%2-3

10%3-4

115%4-5

30%5

21100%

22——

1

1

1)2

5%1-2

3

10%2-3

1

10%3-4

30%4-5

50%5

100%20251231

%

274390.6449814.9418.15

15273.381115.487.30

214704.239880.244.60

/168122.7520270.2212.06

59989.3213512.9222.53

1

2

3

4

5

6

78

17.39

0.0917.3054.30%

PPP PPP ) A 12.90

B 6.67

1 A

2 PPP

1 A 2017 6

201730005.24

201867810.09339.0525797.22

20198525.7942.637425.52

202010943.9754.727116.45

20212297.4811.4911491.67

20225988.7829.94631.11

2023118.610.59609.09

20246753.7233.777018.72

2025241.801.21-

102680.24513.4090095.02

14 -A

90095.029

0.79

20176“”6.5

2017 9 PPP

SPV

2017—20212022—2023

20202022

2023

A

2024

20256——

SPV 2026

A 2026 PPPA B

A 0.5%

2

14——14

SPV PPP SPV

EPC

1414——

SPV

SPV PPP SPV

6.79%

SPV SPV

-

SPV -PPP -

ASPV

-

SPV

1420211

22——14—

— 2021 1 PPP

PPP A

= X(1- )+ +

++

SPV

14

22——

B PPP

1

A B

B

A 0.5%

214

1 14 PPP “ ” “ ”

2

14 ——3 PPP

22——

PPP

PPP

4 PPP

17——45

PPP

5 PPP

14——

A PPP

PPP

14

1 PPP 14 “ ” “

2 SPV EPC

1414——

3 PPP

SPV

14

22——

4 PPP PPP

14

B PPPSPV PPP

B

14

1 B =( +

) =SPV

B +

B

1422——

2 B B

SPV

1414

——

A A B

1414——

免责声明:用户发布的内容仅代表其个人观点,与九方智投无关,不作为投资建议,据此操作风险自担。请勿相信任何免费荐股、代客理财等内容,请勿添加发布内容用户的任何联系方式,谨防上当受骗。

相关股票

相关板块

  • 板块名称
  • 最新价
  • 涨跌幅

相关资讯

扫码下载

九方智投app

扫码关注

九方智投公众号

头条热搜

涨幅排行榜

  • 上证A股
  • 深证A股
  • 科创板
  • 排名
  • 股票名称
  • 最新价
  • 涨跌幅
  • 股圈