证券代码：603822 股票简称：嘉澳环保 编号：2025-045 浙江嘉澳环保科技股份有限公司 关于控股子公司增资扩股并引入投资者暨放弃优先 认购权的公告 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个别及连带责任。 重要内容提示： 一、本次增资概述 （一）本次增资的基本情况 为进一步增强标的公司的资本实力、促进新项目的开展，标的公司现有股 浙江嘉澳环保科技股份有限公司（以下简称"嘉澳环保"或"公司"）控股子 公司连云港嘉澳新能源有限公司（以下简称"连云港嘉澳"或"标的公司"） 拟增资扩股并引入投资者，标的公司现有股东就本次增资事项放弃优先认购权。 基于现有谈判进展，中国航油集团投资有限公司（以最终注册审核通过为准， 以下简称"中国航油"或"本轮投资人"）拟以 261,444,444 元人民币取得标 的公司新增注册资本 261,444,444 元人民币（以下简称"本次增资"）。本次 增资完成后，标的公司的注册资本由 2,353,000,000 元人民币增加至 2,614,444,444 元人民币。 公司放弃本次增资的优先认购权的行为 ...

一、董事会会议召开情况 浙江嘉澳环保科技股份有限公司（以下简称"嘉澳环保"或"公司"）第六 届董事会第二十次会议于 2025 年 7 月 25 日在公司会议室以现场会议与通讯会议 相结合的方式召开，本次会议由董事长沈健先生召集和主持，会议应出席董事 8 人，实际出席董事 8 人（其中以通讯表决方式出席会议的人数为 4 人），公司部 分高级管理人员列席了本次会议。公司第六届董事会第二十次会议通知和材料已 于 2025 年 7 月 21 日以电子邮件、传真及电话通知等方式向全体董事送达。会议 的召集、召开及表决程序符合《中华人民共和国公司法》和《公司章程》的有关 规定，会议形成的决议合法、有效。 证券代码：603822 股票简称：嘉澳环保 编号：2025-044 浙江嘉澳环保科技股份有限公司 第六届董事会第二十次会议决议公告 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个别及连带责任。 二、董事会会议审议情况 （一）审议通过《关于控股子公司增资扩股暨引入新投资人的议案》 鉴于公司的董事沈健、沈颖川、章金富、王艳涛在过去 12 个月内为连云 ...

Core Viewpoint - Jiaao Environmental announced that its subsidiary, Lianyungang Jiaao New Energy Co., Ltd., plans to increase capital and introduce investors, with China Aviation Oil Group investing 261 million RMB for new registered capital [1] Group 1 - The subsidiary will increase its registered capital from 2.353 billion RMB to 2.614 billion RMB after the capital increase [1] - The company has waived its preemptive rights for this capital increase but will remain the controlling shareholder [1]

Group 1 - The company, Jiaao Environmental Protection, has reported cumulative losses exceeding 440 million yuan over the past three years, with a debt ratio soaring to 80.45% [1] - In 2024, the company's revenue plummeted by 52.23% year-on-year to 1.274 billion yuan, and net profit losses expanded to 367 million yuan, with a gross margin dropping to -0.23% [2] - The company faces a liquidity crisis with short-term borrowings of 1.405 billion yuan and debts due within one year amounting to 313 million yuan, while cash on hand is only 230 million yuan, resulting in a current ratio of 0.62 [2] Group 2 - The company has been under scrutiny from regulators regarding the authenticity of its financial statements, with the Zhejiang Securities Regulatory Bureau issuing a warning in August 2024 about accounting errors in its 2022-2023 reports [2] - Jiaao Environmental Protection has a history of financial misconduct, having inflated revenue by over 500 million yuan between 2019-2020, leading to penalties and a systemic failure in internal controls [2] - Despite the financial turmoil, the company is aggressively investing in construction projects totaling 9.558 billion yuan, including a 500,000-ton bio-jet fuel project costing over 5 billion yuan [3] Group 3 - The actual controller, Shen Jian, has initiated a private placement to raise 367 million yuan, ostensibly to supplement liquidity, while simultaneously having a high stock pledge ratio of 29.03% [3] - The aggressive investment in the SAF project contrasts sharply with the company's deteriorating cash flow and the industry's overcapacity rate of 30% [3] - The SAF business is unlikely to resolve the company's issues in the short term, as the first quarter of 2025 saw significant depreciation and a 31% increase in R&D expenses, resulting in a quarterly loss of 47 million yuan [3]

Core Viewpoint - The company, Zhejiang Jiaao Enprotech Co., Ltd., reported significant declines in revenue and profits, with a 52.23% year-on-year decrease in revenue to 1.274 billion yuan and a net loss of 367 million yuan for the reporting period, marking three consecutive years of losses [1][2][3] Financial Performance - The company's main products, environmental plasticizers and biomass energy, accounted for 60% and 33% of revenue, respectively, with gross margins of 0.21% and -18.32% [1][3] - In Q1 2025, the company achieved revenue of 467 million yuan, a 7% year-on-year decrease, with a net loss of 47 million yuan, further widening the loss compared to the previous year [1][2] Product Sales and Cost Structure - For 2024, the production volume of environmental plasticizers was 9,300 tons, with revenue of 767.29 million yuan, a decrease of 2.74% from 2023 [3][4] - The biomass energy segment saw a dramatic revenue drop of 76.64% to 414.79 million yuan, with sales volume down 73.44% [3][4] - The cost structure for both main products is heavily reliant on direct materials and manufacturing costs, which together account for over 90% of total operating costs [4][5] Market Challenges - The decline in gross margins is attributed to a significant drop in sales prices and volumes, particularly in the biomass energy sector, which has been adversely affected by EU anti-dumping investigations [5][6] - The company’s biomass energy sales volume in 2024 was only 26.56% of the previous year's volume due to the impact of EU anti-dumping measures [6][12] Competitive Landscape - The company’s gross margin for environmental plasticizers was 0.21% in 2024, compared to -0.52% for comparable companies, indicating a similar downward trend across the industry [5][15] - The biomass energy segment's gross margin was -18.32%, reflecting a 26.32 percentage point decrease year-on-year, consistent with industry trends [5][15] Strategic Initiatives - The company is focusing on the development of sustainable aviation fuel (SAF) projects, which are not subject to the same anti-dumping investigations, to mitigate the impact of declining biomass energy sales [10][23] - Significant investments are being made in fixed assets and ongoing projects, with a total of 2.787 billion yuan in fixed assets and 1.260 billion yuan in construction in progress, representing 47% and 21% of total assets, respectively [16][20]

立信中联会计师事务所(特殊普通合伙) 《关于浙江嘉澳环保科技股份有限公司 2024 年年度报告的信息披露监管问询函》的回复 立信中联专复字[2025]D-0287 号 立信中联会计师事务所(特殊普通合伙) LixinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP) 日 录 立信中联会计师事务所(特殊普通合伙) 《关于浙江嘉澳环保科技股份有限公司 2024 年年度报告的信息披露监管问询函》的回复 立信中联专复字[2025]D-0287 号 上海证券交易所上市公司管理一部: 根据贵部出具的《关于浙江嘉澳环保科技股份有限公司 2024年年度报告的 信息披露监管问询函》〈上证公函[2025]0891 号〉〈以下简称"问询函"〉， 立信中联会计师事务所（特殊普通合伙）（以下简称"立信中联"或"会计师" 或"年审会计师"）作为浙江嘉澳环保科技股份有限公司(以下简称"嘉澳环 保"或"公司"或"上市公司"）的年审会计师,已会同公司,就问询函所提 问题逐项进行了认真核查,现就问询函中的有关问题回复说明如下: 一、问题 3. 关于项目投建和资金情况。年报显示,公司报告期末固定资 产、在建工 ...

证券代码：603822 股票简称：嘉澳环保 编号2025-043 浙江嘉澳环保科技股份有限公司 关于对上海证券交易所监管问询函的回复公告 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个别及连带责任。 2025 年 6 月 20 日，浙江嘉澳环保科技股份有限公司（以下简称"嘉澳环保"或 "公司"或"上市公司"）收到上海证券交易所上市公司管理一部下发的《关于浙江 嘉澳环保科技股份有限公司 2024 年年度报告的信息披露监管问询函》（上证公函 [2025]0891 号）（以下简称"问询函"），立信中联会计师事务所（特殊普通合伙） （以下简称"立信中联"或"会计师"或"年审会计师"）作为公司的年审会计师， 已会同公司，就问询函所提问题逐项进行了认真核查，现就问询函中的有关问题回复 说明如下： 3、结合前述情况及行业环境、上下游供需变化、可比公司业绩等情况， 说明公司毛利率大幅下滑原因。 问题1.关于经营业绩。年报显示，公司报告期实现营业收入 12.74 亿元，同比 减少 52.23%，归母净利润亏损 3.67 亿元，扣非净利润亏损3.68 亿 ...

Group 1 - Aerospace Science and Technology expects a net profit of 68 million to 95 million yuan for the first half of 2025, representing a growth of 1628.83% to 2315.27% compared to the same period last year [1] - Huaxia Airlines anticipates a net profit of 220 million to 290 million yuan for the first half of 2025, an increase of 741.26% to 1008.93% year-on-year [1] - Shida Group forecasts a net loss of 44 million to 65 million yuan for the first half of 2025, marking a shift from profit to loss [1] Group 2 - Jiaao Environmental Protection expects a net loss of 70 million to 90 million yuan for the first half of 2025 [3] - Haima Automobile predicts a net loss of 60 million to 90 million yuan for the first half of 2025, compared to a loss of 152 million yuan in the same period last year [3] - Huaibei Mining anticipates a net profit of approximately 1.027 billion yuan for the first half of 2025, a decrease of about 65% year-on-year [3] Group 3 - Quanfu Automobile expects a net loss of 155 million to 185 million yuan for the first half of 2025 [5] - Gaode Infrared signed a procurement agreement worth 879 million yuan, which is expected to positively impact its operating performance for the year [5] - Zhongchen Co. won a project from Southern Power Grid worth 379 million yuan, representing 12.26% of its audited revenue for 2024 [5] Group 4 - Daheng Technology anticipates a net loss of 406,000 yuan for the first half of 2025, compared to a loss of 988,250 yuan in the same period last year [6] - Dazhongnan expects a net profit of 6.5 million to 8 million yuan for the first half of 2025, a recovery from a loss of 15.325 million yuan last year [6] - Xianfeng Holdings projects a net profit of 34 million to 42 million yuan for the first half of 2025, a year-on-year increase of 524.58% to 671.53% [7] Group 5 - Shuangxiang Co. expects a net profit of 115 million to 150 million yuan for the first half of 2025, a growth of 128.1% to 197.53% year-on-year [8] - ST Xintong anticipates a net loss of 67 million to 97 million yuan for the first half of 2025 [9] - Jishi Media forecasts a net loss of 187 million to 233 million yuan for the first half of 2025 [10] Group 6 - Suli Co. expects a net profit of 72 million to 86 million yuan for the first half of 2025, a year-on-year increase of 1008.39% to 1223.91% [11] - Wanli Co. anticipates a net loss of 19 million yuan for the first half of 2025, compared to a loss of 12.9238 million yuan last year [12] - Langzi Co. projects a net profit of 22 million to 26 million yuan for the first half of 2025, an increase of 31.74% to 55.69% year-on-year [14] Group 7 - Changjiang Securities expects a net profit of 1.652 billion to 1.81 billion yuan for the first half of 2025, a growth of 110% to 130% [15] - Huahong Technology anticipates a net profit of 70 million to 85 million yuan for the first half of 2025, a year-on-year increase of 3047.48% to 3721.94% [16] - Chenhua Co. plans to invest 30 million yuan in financial products with an expected annual yield of 3.20% [16] Group 8 - Zijing Mining expects a net profit of approximately 23.2 billion yuan for the first half of 2025, a growth of about 54% year-on-year [28] - Limin Co. anticipates a net profit of 26 million to 28 million yuan for the first half of 2025, a year-on-year increase of 719.25% to 782.27% [29] - Huazhong Securities expects a net profit of 1.035 billion yuan for the first half of 2025, a growth of 44.94% year-on-year [30]

[Current Period Performance Forecast (H1 2025)](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts H1 2025 operating revenue of RMB 1.30-1.45 billion, with net profit attributable to shareholders and non-recurring net profit expected to be a loss of RMB 70-90 million H1 2025 Performance Forecast | Indicator | Forecast Range (RMB) | | :--- | :--- | | Operating Revenue | RMB 1.30 billion - RMB 1.45 billion | | Net Profit Attributable to Parent Company Shareholders | -RMB 90 million to -RMB 70 million | | Net Profit After Non-Recurring Items | -RMB 90 million to -RMB 70 million | - Compared to the same period last year, operating revenue is expected to increase by **RMB 540 million to RMB 690 million**[4](index=4&type=chunk) - This performance forecast is based on preliminary calculations by the finance department and has not been audited by a certified public accountant[5](index=5&type=chunk) [Prior Period Performance (H1 2024)](index=1&type=section&id=II.%20Prior%20Period%20Performance) In H1 2024, the company's operating revenue was RMB 759.24 million, with net profit attributable to shareholders and non-recurring net profit both at a loss, and basic earnings per share at -RMB 0.9682 H1 2024 Performance Review | Indicator | Amount (RMB) | | :--- | :--- | | Operating Revenue | RMB 759.24 million | | Net Profit Attributable to Listed Company Shareholders | -RMB 74.53 million | | Net Profit After Non-Recurring Items | -RMB 75.70 million | | Earnings Per Share | -RMB 0.9682 | [Key Reasons for Performance Change](index=2&type=section&id=III.%20Key%20Reasons%20for%20Current%20Period%20Performance%20Forecast%20Change) Performance change is primarily due to low gross margins in eco-friendly plasticizers and sluggish biodiesel business, offset by significant revenue growth and improved profit from new sustainable aviation fuel (SAF) export operations - Negative Impact: Due to the overall chemical industry environment, sales prices of eco-friendly plasticizer products continued to decline, leading to persistently **low gross margins**[9](index=9&type=chunk) - Negative Impact: Affected by international trade friction, the biodiesel business continued its market downturn from 2024, **significantly impacting the company's sales revenue and profit**[9](index=9&type=chunk) - Positive Driver: The company obtained sustainable aviation fuel (SAF) export quotas in April 2025 and officially commenced export operations in May, becoming a key driver for **significant revenue increase and effective improvement in profit** during the reporting period[9](index=9&type=chunk) [Risk Warning and Other Disclosures](index=2&type=section&id=IV.%20Risk%20Warning) This performance forecast is a preliminary, unaudited calculation by the finance department, with final accurate financial data subject to the officially disclosed H1 2025 report, urging investors to be aware of investment risks - This performance forecast is a preliminary calculation by the company's finance department, unaudited by a certified public accountant, and its **accuracy is uncertain**[10](index=10&type=chunk) - Specific accurate financial data will be subject to the company's officially disclosed H1 2025 report, and investors are advised to **pay attention to investment risks**[11](index=11&type=chunk)

Investment Rating - The investment rating for the industry is "Increase" which indicates a relative increase of more than 15% compared to the CSI 300 index [28] Core Insights - The Central Financial Committee's sixth meeting emphasized the high-quality development of the marine economy and the exploration of marine carbon sink accounting [8] - The first international standard for algal carbon footprint has been officially released, marking a breakthrough in carbon footprint standards [8] - The national carbon market is expanding beyond the power sector, increasing the demand for CCER (Voluntary Carbon Emission Reduction) [9] - New methodologies for CCER are expected to accelerate expansion, including projects related to low-concentration gas utilization in coal mines and energy-saving in highway tunnel lighting [10] Summary by Sections Weekly Investment Perspective - The meeting highlighted the need for top-level design in marine economic development and encouraged social capital participation [8] - The national carbon market will include cement, steel, and electrolytic aluminum industries, with a target to cover 7.5 billion tons of greenhouse gas emissions by 2027 [9] Environmental Sector Performance - The environmental sector saw a weekly increase of 0.81%, with notable stock performances including Xuedilong (+31.74%) and Sandetech (+26.25%) [13][16] - The weekly trading volume for national carbon market emissions was 2.47 million tons, with an average price of 72.64 yuan/ton, reflecting a 62% decrease from the previous week [14] Carbon Neutrality Tracking - The CCER trading volume reached 103,000 tons with an average price of 87.04 yuan/ton [14] - The Shanghai pilot carbon market achieved 100% compliance for twelve consecutive years, with a significant increase in green electricity consumption [18] Investment Recommendations - Recommendations include leading waste incineration companies such as Sanfeng Environment and Huanlan Environment, as well as companies in the recycling sector like Zhuoyue New Energy and Sanlian Hongpu [11]