2017 年前 3 季度，环保工程及服务指数下跌 0.78%，水务指数、环保设备指数累计分别上涨 7.42%和 3.51%，分别对应跑输沪深 300 指数 15.57、7.37和 11.28 个百分点。 同时，渤海节能环保板块估值较 2 季度末大幅回落。目前，渤海节能环保板块整体估值已接近历史中值水平（2010 年以来，环保板块估值中位数为 37.3 倍），结合环保行业成长性考虑，我们认为板块当前估值处于相对合理的位臵。

今年前三季度，环保板块整体震荡中有两波行情：2 月下旬-4月中旬，一季度京津冀大气污染防治带动的投资情绪，叠加 4 月初的雄安新区主题；7 月下旬-9 月份，环保督察带动的工业环保主题行情。

《联合国防治荒漠化公约》第十三次缔约方大会高级别会议 11 日在内蒙古鄂尔多斯市开幕。国家主席习近平发来贺信，向会议的召开致以热烈的祝贺，向出席会议的各国代表、国际机构负责人和各界人士致以诚挚的欢迎，并预祝大会圆满成功。

十八大以来生态文明建设被赋予前所未有高度。中国环境监管执法体系已经得到重构：在责任主体、监管体系、污染物收费、排污许可、排污权交易五个方面进行了重大变革，体系重构最重要的结果体现为中央环保督察制度的常态化。对于钢铁、煤炭、有色、化工等产能过剩行业，高耗能高污染是普遍现象，推动产业升级和经济转型，供给侧改革势在必行。

随着全球经济的发展，人们的生活质量越来越高。然而在人们越来越奢侈的物质享受的背后，却是生态的失调、环境的恶化。人类的活动使大量的工业、农业和生活废弃物排入水中，使水受到污染。目前，全世界每年约有 4200 多亿立方米的污水排入江河湖海，污染了 5.5 万亿立方米的淡水，这相当于全球径流总量的 14%以上。

Scrap metal recycling is a process that aims at diminishing the amount of scrap metal that is disposed of as solid waste. Disposing of this scrap metal in regular trash is leading to concerns about water pollution and soil contamination.Vendors in this industry are involved in the assortment, processing, and recycling of ferrous and non-ferrous metals. The typical metal recycling processes include sorting and shredding of scrap, which is later sold to metal smelters for further metal recovery.

RO is a technology that uses a semi-permeable membrane to remove dissolved salts or organic molecules from water. The water is pushed under pressure through the membrane, which allows the passage of water molecules but prevents the dissolved salts and bacteria from passing through.The global RO systems market is well diversified in the residential and industrial segment. In 2016, the market was dominated by the residential segment owing to the rising desalination activities worldwide. In 2021, the residential sector will continue its domination in the market followed by the industrial segment. The following exhibit reflects the market for the same in 2016 and 2021.