Summary of Key Points Core Viewpoint - Zhejiang Jiaao Environmental Protection Technology Co., Ltd. reported a net loss of 367 million yuan for 2024, primarily due to the EU's anti-dumping policies affecting biodiesel exports, leading to a 76.64% decline in biomass energy revenue. The company plans to accelerate the production of its Lianyungang project and optimize its product offerings to regain profitability [1][2][4]. Group 1: Financial Performance - The company’s total revenue for 2024 was 1.274 billion yuan, a decrease of 52.23% year-on-year [3]. - The net profit attributable to shareholders was a loss of 367 million yuan, compared to a loss of 47 million yuan in the previous year [3][4]. Group 2: Strategic Initiatives - The company aims to enhance its biomass aviation fuel (SAF) production, leveraging its location in the Yangtze River Delta, which is expected to benefit from national policies promoting SAF [2][4]. - The company has received ISCC and airworthiness certifications, positioning SAF as a core growth driver due to EU regulations mandating a gradual increase in SAF blending ratios [4][5]. Group 3: Market Expansion and Product Development - The company plans to expand its market share in Southeast Asia and Japan, focusing on non-EU markets to mitigate the impact of EU anti-dumping policies [1][4]. - The company is investing in R&D to develop environmentally friendly plasticizers and aims to replace traditional plasticizers, which will enhance its competitive edge in various applications [2][4]. Group 4: Cost Management and Supply Chain - The company is implementing strict cost control measures and enhancing supply chain management to address raw material price fluctuations [4][5]. - Long-term supply agreements with suppliers are in place to ensure stable raw material supply for SAF production [4].

关于 2024 年度业绩说明会召开情况的公告 证券代码：603822 股票简称：嘉澳环保 编号：2025-037 浙江嘉澳环保科技股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 浙江嘉澳环保科技股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日 13:00-14:45 通过上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/），采用视频录播和网络文字互动问答方式召开公 司 2024 年度业绩说明会。关于本次业绩说明会的召开事项，公司已于 2025 年 5 月 27 日在《上海证券报》、《中国证券报》、《证券时报》、《证券日报》及上海 证券交易所网站上披露了《关于召开 2024 年度业绩说明会的公告》（编号： 2025-035）。现将有关事项公告如下： 一、本次说明会召开情况 2025 年 6 月 6 日，公司董事长、总经理沈健先生；董事会秘书、财务总监 吴逸敏先生；独立董事夏江华先生出席了本次业绩说明会。公司就 2024 年度经 营成果及财务指标的具体情 ...

Core Viewpoint - The article emphasizes the growing application and demand for biodiesel, particularly in transportation and aviation sectors, driven by environmental policies and technological advancements [2][3]. Group 1: Biodiesel Development - Biodiesel is recognized for its environmental benefits, good engine performance, and renewable nature, making it crucial for sustainable economic development and energy transition [2]. - The application of biodiesel is expanding beyond road transport to include maritime and aviation sectors, with significant potential for growth [2]. - The International Air Transport Association (IATA) predicts that by 2050, 65% of emissions reductions in aviation will come from the use of sustainable aviation fuel (SAF) [2]. Group 2: Policy and Market Dynamics - The Chinese government is promoting the development of non-grain biomass liquid fuels, including biodiesel and biojet fuel, as part of its "3060" carbon neutrality strategy [2]. - The EU mandates that by 2025, at least 2% of aviation fuel supplied at EU airports must be SAF, increasing to 6% by 2030 and 70% by 2050, which is expected to drive demand for SAF [3]. - The export volume of kitchen waste oil in China is projected to grow from 730,000 tons in 2019 to 2.78 million tons by 2024, reflecting a compound annual growth rate of 23% [3]. Group 3: Industry Developments - The approval of a "white list" for biojet fuel exports in Jiangsu province marks a significant step for China's biojet fuel industry, allowing for international market access [4]. - The company Jiangsu Jiaao has the capacity to produce 372,400 tons of biojet fuel annually, which can now be exported under the new regulations [4]. - The establishment of export channels is expected to create competitive advantages for leading technology firms in the biojet fuel sector [4].

Investment Rating - The report maintains an "Overweight" rating for the petrochemical and transportation sectors [5] Core Insights - The demand for biodiesel is expected to grow significantly due to its environmental benefits and the expansion of its application in various sectors, including aviation and power generation [1][2] - The introduction of mandatory Sustainable Aviation Fuel (SAF) blending requirements in the EU starting in 2025 is anticipated to drive up prices for related products in the supply chain [2] - The successful establishment of export channels for domestic bio-jet fuel marks a significant milestone for China's biofuel industry, allowing for international market access [3] Summary by Sections 1. Industry Overview - Biodiesel is recognized for its renewable nature and broad raw material sources, contributing to sustainable economic development and energy transition [1] - The International Air Transport Association (IATA) projects that by 2050, 65% of emissions reductions in aviation will come from the use of biofuels [1] 2. Policy Impact - The EU's SAF mandate requires a minimum of 2% SAF in aviation fuel by 2025, increasing to 6% by 2030 and 70% by 2050, which is expected to accelerate the growth of the SAF market [2] - China's "14th Five-Year Plan" emphasizes the development of non-grain biomass liquid fuels, including biodiesel and bio-jet fuel, aligning with the country's carbon neutrality goals [1] 3. Market Dynamics - The export volume of domestic kitchen waste oil is projected to grow from 730,000 tons in 2019 to 2.78 million tons by 2024, reflecting a compound annual growth rate of 23% [2] - As of June 4, 2025, the average market prices for domestic waste oil and biodiesel are reported at 6,200 RMB/ton and 7,925 RMB/ton, respectively, showing increases of 36% and 17% from their October 2024 lows [2] 4. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the "three barrels of oil" and oil service sectors, including China National Petroleum, Sinopec, and CNOOC [4] - It also highlights opportunities in domestic material companies benefiting from the trend of local substitution, as well as in the pesticide and fertilizer sectors [4]

Investment Rating - The report maintains an "Overweight" rating for the petrochemical and transportation sectors [5] Core Insights - The demand for biodiesel is expected to grow significantly due to its environmental benefits and the expansion of its application in various sectors, including aviation and power generation [1][2] - The introduction of mandatory Sustainable Aviation Fuel (SAF) blending requirements in the EU starting in 2025 is anticipated to drive up prices for related products in the supply chain [2] - The recent approval of export channels for domestic bio-jet fuel marks a significant development for China's biofuel industry, allowing for international trade and enhancing competitive advantages for leading companies [3] Summary by Sections 1. Industry Overview - The report highlights the strategic importance of biodiesel in achieving sustainable economic development and reducing environmental pollution, with a focus on its growing applications in transportation and energy sectors [1] 2. Policy Impact - The EU's SAF blending mandate will require at least 2% SAF in aviation fuel by 2025, increasing to 6% by 2030 and 70% by 2050, which is expected to significantly boost demand for biofuels [2] 3. Market Developments - The export approval for bio-jet fuel from Jiangsu province represents a breakthrough for the domestic biofuel industry, allowing for a production capacity of 372,400 tons in 2025 [3] 4. Investment Recommendations - The report suggests focusing on undervalued, high-dividend companies in the oil and gas sector, as well as those benefiting from domestic substitution trends in materials and chemicals [4]

Investment Rating - The report maintains an "Overweight" rating for the petrochemical and transportation sectors [5] Core Viewpoints - The demand for biodiesel is expected to grow significantly due to its environmental benefits and the expansion of its application in various sectors, including aviation and power generation [1][2] - The introduction of mandatory Sustainable Aviation Fuel (SAF) blending requirements in the EU is anticipated to drive up prices for related products in the supply chain [2] - The establishment of export channels for domestic bio-jet fuel marks a significant development for China's biofuel industry, allowing for international market access [3] Summary by Sections 1. Industry Overview - Biodiesel is recognized for its renewable nature and broad raw material sources, contributing to sustainable economic development and energy transition [1] - The International Air Transport Association (IATA) projects that by 2050, 65% of emissions reductions in aviation will come from the use of biofuels [1] 2. Policy Impact - The EU mandates a minimum of 2% SAF in aviation fuel starting January 2025, increasing to 6% by 2030 and 70% by 2050, which is expected to significantly boost the SAF market [2] - China's "14th Five-Year Plan" emphasizes the development of non-grain biomass liquid fuels, including biodiesel and bio-jet fuel, aligning with the country's carbon neutrality goals [1] 3. Market Dynamics - The export volume of domestic kitchen waste oil is projected to grow from 730,000 tons in 2019 to 2.78 million tons by 2024, reflecting a compound annual growth rate of 23% [2] - As of June 4, 2025, the average market prices for domestic waste oil and biodiesel are reported at 6,200 RMB/ton and 7,925 RMB/ton, respectively, showing increases of 36% and 17% from their October 2024 lows [2] 4. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the "three barrels of oil" and oil service sectors, as well as companies benefiting from domestic substitution trends in materials [4]

Core Points - The Shanghai Composite Index closed at 3376.20 points, above the six-month moving average, with a gain of 0.42% [1] - Total trading volume in A-shares reached 11,774.13 billion yuan, indicating active market participation [1] - A total of 211 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Key stocks with high deviation rates include: - Keheng Co., Ltd. (科恒股份) with a deviation rate of 15.26% and a daily increase of 20.02% [1] - Chongqing Construction (重庆建工) with a deviation rate of 9.13% and a daily increase of 10.00% [1] - Wanli Stone (万里石) with a deviation rate of 7.59% and a daily increase of 10.02% [1] - Other stocks with lower deviation rates that just crossed the six-month line include: - Lianying Laser (联赢激光) and Shunyu Co., Ltd. (舜禹股份) [1] Trading Activity - The trading turnover rate for notable stocks includes: - Keheng Co., Ltd. at 15.50% [1] - Chongqing Construction at 2.67% [1] - Wanli Stone at 10.43% [1] - The overall market shows a healthy turnover, reflecting investor interest and engagement [1]

地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于浙江嘉澳环保科技股份有限公司 上海市锦天城律师事务所 关于浙江嘉澳环保科技股份有限公司 2024 年年度股东大会的 法律意见书 2024 年年度股东大会的 法律意见书 致：浙江嘉澳环保科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受浙江嘉澳环保科技股份有 限公司（以下简称"公司"或"嘉澳环保"）委托，就公司召开 2024 年年度股东大 会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以 下简称《公司法》）等法律、法规、规章和其他规范性文件以及《浙江嘉澳环保 科技股份有限公司章程》（以下简称《公司章程》）的有关规定，出具本法律意见 书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东大会所涉及的相关事 项进行了 ...

证券代码：603822 证券简称：嘉澳环保 公告编号：2025-036 浙江嘉澳环保科技股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 27 日 (二)股东大会召开的地点：公司二楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 60 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 34,681,447 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 45.1429 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由董事会召集，由董事长沈健先生主持，采用现场投票与网络 投票相结合的方式召开。本次股东大会的召开以及表决方式符合《中华人民共和 国公司法》、《上海证券交易所上市 ...

Group 1 - The company, Zhejiang Jiaao Environmental Protection Technology Co., Ltd., will hold a 2024 annual performance briefing on June 6, 2025, from 13:00 to 14:45 [1][2] - The briefing will be conducted via video and online interactive Q&A, allowing investors to engage with the company regarding its 2024 operational results and financial indicators [2][3] - Key participants in the briefing will include the Chairman and General Manager, Mr. Shen Jian, and the Board Secretary and Chief Financial Officer, Mr. Wu Yimin [2] Group 2 - Investors can submit questions for the briefing from May 29, 2025, to June 5, 2025, through the Shanghai Stock Exchange Roadshow Center website or via the company's email [3] - After the briefing, investors will be able to view the main content and outcomes of the event on the Shanghai Stock Exchange Roadshow Center [3]