Analysis of Strong Performance of Shengyuan Environmental Protection (300867): Driven by Performance, Policy, and Capital

Shengyuan Environmental Protection (300867) has performed strongly since 2025. As of November 14, the stock price has risen from 11.5 yuan at the beginning of the year to 22.75 yuan, an increase of about 97.8%, with a total market value of 6.182 billion yuan [0]. The core driving factors include:

1. Performance Exceeding Expectations
   : Q3 net profit increased by 113.85% year-on-year, and non-net profit increased by 123.41% [0];
2. Policy Dividends
   : Central pollution control special subsidies (40%-70%, up to 100 million yuan) [0];
3. New Business Layout
   : Taurine project promotes the second growth curve, and the construction in progress increased by 118.09% in the first three quarters [0,4];
4. Regional Concept
   : As a local environmental protection enterprise in Fujian, it benefits from the speculation of Fujian concept stocks [0];
5. Capital Inflow
   : On November 14, the main purchase was 117 million yuan, with a turnover rate of 28.34% [1].

• Resonance of Performance and New Business
  : Q3 performance exceeding expectations combined with the taurine project (second growth curve) enhances confidence in long-term growth [0,4];
• Double Support from Policy and Region
  : Environmental protection policy subsidies + Fujian concept form short-term catalysts [0];
• Increased Capital Attention
  : Recent high turnover rate (28.34%) and obvious main capital inflow indicate positive market sentiment [1].

1. Short-term Callback Pressure
   : After nearly doubling the increase, there is a risk of technical callback [0];
2. Capital Divergence
   : On November 3, the main sale was 32.87 million yuan, indicating that some funds took profits [2];
3. Uncertainty of New Business
   : The taurine project is still under construction, and production capacity release and market demand need to be verified [0].

1. Continuous Policy Support
   : Pollution control subsidy policies are expected to continue to be beneficial [0];
2. Growth Potential of New Business
   : If the taurine project is successful, it will significantly improve profitability [4];
3. Industry Prosperity
   : The demand for environmental protection industry grows steadily [0].

The strong performance of Shengyuan Environmental Protection is driven by multiple factors: performance, policy, new business, regional concept, and capital. Investors need to pay attention to the sustainability of performance, the progress of new business, and changes in capital flow, balancing short-term returns and long-term value.