天眼查商业履历信息显示，济南恒誉环保科技股份有限公司，成立于2006年，位于济南市，是一家以从 事专用设备制造业为主的企业。企业注册资本8001.0733万人民币，实缴资本4003.3万人民币。公司法定 代表人为牛斌。 8月11日，沪深两融数据显示，恒誉环保上周累计获融资净买入额1236.26万元，居两市第498位，上周 融资买入额5338.49万元，偿还额4102.23万元。 恒誉环保所属概念板块包括：环保行业、山东板块、专精特新、融资融券、微盘股、节能环保。 资金流方面，恒誉环保近5日主力资金流入405.66万元，区间涨幅1.04%；近10日主力资金流入1851.14 万元，区间涨幅3.35%。 通过天眼查大数据分析，济南恒誉环保科技股份有限公司共对外投资了8家企业，参与招投标项目19 次，知识产权方面有商标信息44条，专利信息131条，此外企业还拥有行政许可20个。 ...

Core Insights - The article highlights the growing importance of the circular economy in the context of "dual carbon" goals, emphasizing the advantages of low consumption, low emissions, and high efficiency [1] - The company Hengyu Environmental has evolved into a global leader in the thermal pyrolysis industry, focusing on technology research, equipment manufacturing, and operational services [1] - Hengyu Environmental has successfully transitioned from being an equipment supplier to a comprehensive service provider, enhancing its business model and achieving significant revenue and profit growth in Q1 2025 [1][6] Market Potential - The European Union has set a target for 55% of plastic packaging to be recycled by 2030, with over 40 multinational companies committing $1.5 billion to eliminate plastic waste [2] - In the waste tire recycling sector, major tire manufacturers are prioritizing sustainability, with Bridgestone planning to establish a production line for processing 100,000 tons of waste tires annually by 2027-2030 [2] - China's emphasis on the circular economy is increasing, with companies like Linglong Tire and China Chemical entering the waste tire thermal pyrolysis market [2] Technological Advancements - Continuous stable operation is a recognized challenge in the thermal pyrolysis industry, with many existing technologies unable to meet industrial demands [3] - Hengyu Environmental has developed proprietary technologies that address common issues such as coking, sealing difficulties, and product aggregation, achieving a mineral oil content of less than 0.05% and a cracking rate exceeding 99% [3] - The company's technology has been certified as domestically innovative and meets international advanced standards [3] Global Reach - Hengyu Environmental has made significant strides in waste treatment across various sectors, receiving accolades for its projects and achieving multiple international certifications for its products [4] - The company exports its products to numerous countries, including Germany, the UK, and Brazil, positioning itself as one of the few domestic suppliers capable of meeting stringent international technical requirements [4] Business Model Innovation - To enhance operational stability and sustainability, Hengyu Environmental is actively exploring a "equipment + operation" dual-driven model, focusing on downstream operational services [5] - The company has signed contracts for significant projects, including a $1.48 billion BOO project for hazardous waste treatment in Enshi, which has already commenced operations [5] Future Prospects - In 2024, Hengyu Environmental plans to launch a comprehensive waste tire utilization project with a processing capacity of 200,000 tons, potentially becoming one of the largest projects globally [6] - The company's Q1 2025 performance showed a revenue of 61.43 million yuan, marking a 274.69% year-on-year increase, and a net profit of 8.27 million yuan, reflecting a 150.38% increase [6]

Core Viewpoint - Hengyu Environmental Protection has established itself as a global leader in the thermal cracking industry, focusing on technology, equipment, and operations, and has significantly increased its revenue and net profit in the first quarter of the year [1]. Group 1: Company Overview - Hengyu Environmental Protection has nearly 40 years of experience in the thermal cracking field, evolving into a comprehensive company that integrates technology, equipment, and operations [1]. - The company has upgraded its business model to "equipment + operations" to enhance operational stability and sustainability, while expanding profit growth points [1]. Group 2: Financial Performance - In the first quarter of the year, the company's revenue and net profit attributable to shareholders increased by 274.69% and 150.38% year-on-year, respectively, laying a solid foundation for annual performance growth [1][4]. Group 3: Technological Advancements - The company has developed key technologies for organic solid waste thermal cracking resource disposal, addressing industry challenges such as coking, material sealing, and product aggregation, achieving a mineral oil content of less than 0.05% or a cracking rate of over 99% [2]. - Hengyu's technology has been recognized as a domestic first and meets international advanced standards, with its products certified by multiple international organizations [3]. Group 4: Market Expansion and Projects - Hengyu Environmental Protection is actively exploring the "equipment + operations" dual-drive model, with ongoing projects in waste tire, waste plastic, oil sludge, and organic hazardous waste sectors [3][4]. - The company has signed significant contracts, including a BOO project in Enshi with a total estimated contract value of no less than 148 million yuan, and is advancing projects in Zhejiang and a tire disposal project expected to be the largest in the country [4].

Core Viewpoint - The annual report of Jinan Hengyu Environmental Technology Co., Ltd. for 2024 highlights a decline in revenue and net profit, while emphasizing the company's focus on organic waste resource utilization and technological innovation in the pyrolysis sector [1][3]. Financial Performance - The company achieved operating revenue of 154.94 million yuan, a decrease of 5.48% compared to the previous year [3]. - The net profit attributable to shareholders was 17.42 million yuan, down 4.00% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 13.83 million yuan, reflecting an 8.40% decline from the previous year [3]. - The net cash flow from operating activities was 105.21 million yuan, a significant increase of 688.30% compared to the previous year [3]. Business Operations - The company is focusing on a dual-driven development model of "equipment + operation," enhancing its operational business and optimizing its business structure [5]. - The first BOO project, the Enshi oil-based rock debris project, has been put into operation, and the Zhejiang paint sludge BOO project is in the equipment debugging phase [5]. - The company has entered the waste tire comprehensive utilization operation project through its subsidiary, marking a significant expansion of its operational capabilities [5]. Market Strategy - The company has adopted a proactive sales strategy, focusing on both domestic and international markets, resulting in a 78% increase in new order amounts compared to the previous year [6]. - The company has expanded its patent portfolio, acquiring 7 new domestic and international patents during the reporting period, bringing the total to 115 patents [6]. Product and Service Offerings - The main products include industrial continuous pyrolysis production lines for waste tires, waste plastics, and oily sludge, which facilitate the harmless and resourceful treatment of organic waste [9][10]. - The company provides comprehensive solutions for organic waste treatment, including pre-sales consulting, design, installation, and technical support [12][13]. Corporate Governance and Development - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective checks and balances [7]. - A stock incentive plan for 2024 has been introduced to align the interests of employees with those of the company and shareholders, enhancing motivation and accountability [7]. Innovation and Research - The company continues to focus on innovation, actively exploring new applications for pyrolysis technology in various fields, including oil sand extraction and medical waste treatment [8].

Core Viewpoint - Jinan Hengyu Environmental Protection Technology Co., Ltd. announced a correction to its 2024 annual report, stating that the corrections will not impact the company's financial status or operating results for the year [1][6]. Correction Details - The correction pertains to data entry errors found in the "Management Discussion and Analysis" section, specifically in the "Revenue and Cost Analysis" subsection [1]. - The corrected figures include a total cost of 90,093,027.47 yuan for the current period, which represents a 20.43% increase compared to the previous year's total cost of 74,811,359.24 yuan [5]. Cost Structure Analysis - Direct materials accounted for 72.27% of total costs in the current period, down from 80.97% in the previous year [6]. - Direct labor constituted 3.99% of total costs, an increase from 2.77% year-on-year [6]. - Manufacturing expenses represented 21.56% of total costs, compared to 15.29% in the previous year [6]. Product Cost Breakdown - For the waste tire pyrolysis production line, total costs were 46,611,417.59 yuan, which is a 5.17% increase from 44,318,135.37 yuan in the previous year [5]. - The cost of direct materials for the waste tire pyrolysis line decreased by 14.14% year-on-year [5]. - The total cost for the waste plastic pyrolysis line was 9,443,301.74 yuan, reflecting a 47.21% decrease from the previous year's 17,888,683.79 yuan [5]. Other Notes - The company emphasized that aside from the corrections, all other contents of the 2024 annual report remain unchanged and will not affect the total equity of the owners or the company's profitability [6]. - The updated report is available on the Shanghai Stock Exchange website, and the company expressed apologies for any inconvenience caused to investors [6].

Financial Performance - The company reported a revenue of ¥154,939,466.05 for 2024, a decrease of 5.48% compared to the previous year[22]. - Net profit attributable to shareholders was ¥17,421,581.98, down 4.00% year-over-year[22]. - The net profit after deducting non-recurring gains and losses was ¥13,834,426.87, reflecting an 8.40% decline from the previous year[24]. - The net cash flow from operating activities increased significantly to ¥105,207,567.79, a rise of 688.30% compared to last year[22]. - The company's total assets reached ¥915,576,682.30, marking a 7.45% increase from the previous year[22]. - Basic earnings per share decreased to ¥0.2177, down 4.01% year-over-year[23]. - The R&D expenditure as a percentage of revenue was 6.64%, a decrease of 0.93 percentage points from the previous year[23]. - The company experienced a slight increase in net assets attributable to shareholders, which stood at ¥737,757,396.67, up 1.70% from last year[22]. - The company reported a significant increase in cash flow from operating activities, reaching CNY 105.21 million, up 688.30% from the previous year[139]. - The operating cost increased by 19.21% to CNY 91.16 million, primarily due to costs from newly acquired subsidiaries[139]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.88 RMB per 10 shares, totaling approximately 6,987,311.67 RMB, which represents 40.11% of the net profit attributable to shareholders[6]. - The total share capital of the company is 80,010,733 shares, after deducting 609,464 shares held in the repurchase account[6]. Risk Management and Compliance - The company has not faced any significant risks that could materially impact its operations during the reporting period[3]. - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[5]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[11]. - The company emphasizes the importance of investor awareness regarding potential risks associated with forward-looking statements[7]. - The company faces risks related to project contract adjustments, delays, and cancellations, which could adversely affect operational performance[129]. - The company has faced scrutiny from regulatory bodies, indicating a need for improved compliance measures[200]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance[9]. - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team to enhance operational efficiency and support high-quality development[38]. - The company has implemented a strategy to adjust its management team in response to operational needs and market conditions[199]. - The company’s board of directors has been actively involved in nominating and electing new members to ensure effective governance[199]. Research and Development - The total R&D investment for the year was approximately ¥10.29 million, a decrease of 17.01% compared to the previous year, with R&D investment as a percentage of operating income dropping by 0.93 percentage points to 6.64%[107]. - The company has introduced 4 new products and 1 new process during the reporting period, enhancing its product structure and variety to meet customer demands[101]. - The company’s R&D efforts are focused on enhancing the technological content of its products and improving automation levels, which is expected to strengthen its core competitiveness[101]. - The company has a research and design team of 45 members, with R&D personnel accounting for 28.13% of the total workforce, indicating a focus on talent acquisition and retention[114]. Market and Product Development - The company is actively expanding its operational business, with the first BOO project launched in 2024 and a second project in progress, alongside a strategic acquisition of a controlling stake in a waste tire utilization project[55]. - The company aims to provide comprehensive solutions for organic waste treatment, combining equipment sales with consulting and technical support services[54]. - The company is exploring the application of pyrolysis technology in various fields, including oil sand extraction and medical waste treatment, indicating potential for future growth[41]. - The company has successfully implemented industrial continuous pyrolysis technology, enhancing the quality of recycled carbon black, which is crucial for expanding its application market and improving economic benefits in the waste tire pyrolysis industry[85]. Environmental and Regulatory Context - The new environmental protection laws and standards implemented in 2023 are driving the market towards continuous pyrolysis equipment, which is becoming mainstream due to its compliance with safety and environmental requirements[60]. - The government has introduced tax incentives to support the development of continuous pyrolysis technology for waste tires, encouraging its adoption in the recycling industry[64]. - The company has been recognized as a "Shandong Province Waste-Free Factory" and a "Single Champion in Manufacturing" by the Shandong Provincial Department of Ecology and Environment, reflecting its commitment to green and low-carbon development[92]. Strategic Goals and Future Outlook - The company aims to enhance the efficiency and safety of its pyrolysis systems by addressing key technical challenges such as dynamic sealing and preventing coking, which are critical for achieving continuous industrial operation[88]. - The company is focusing on expanding its market presence in the field of organic waste treatment, with a strong emphasis on technology development and industry standards[112]. - The company is committed to maintaining transparency in its financial reporting and governance practices[190]. - The company has a long-term vision for growth, with a focus on innovation and market expansion strategies[191].

证券代码：688309 证券简称：恒誉环保 公告编号：2025-014 济南恒誉环保科技股份有限公司 单位：元 | | | | 分行业情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 分行业 | 成本构 成项目 | 本期金额 | 本期占总成 本比例(%) | 上年同期金额 | 上年同期占 总成本比例 | 本期金额 较上年同 期变动比 | 情况 说明 | | | | | | | (%) | 例(%) | | | | 直接材 料 | 65,107,629.37 | 72.27 | 60,578,434.39 | 80.97 | 7.48 | | | | 直接人 | 3,597,640.30 | 3.99 | 2,070,925.97 | 2.77 | 73.72 | | | 环保行 | 工 | | | | | | | | 业 | 制 造 费 | 4,735,790.59 | 5.26 | 11,436,855.23 | 15.29 | -58.59 | | | | 用 | | | | | | | | | 运保费 | 16,651,96 ...

Core Viewpoint - The legal opinion issued by Jindu Law Firm confirms that the differentiated dividend distribution plan proposed by Jinan Hengyu Environmental Technology Co., Ltd. complies with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [4][5][6]. Group 1: Differentiated Dividend Application - The reason for the differentiated dividend application is based on the company's share repurchase plan, which was approved by the board on April 26, 2022, with a repurchase amount between RMB 10 million and RMB 20 million [4]. - As of May 31, 2025, the total number of shares is 80,010,733, with 609,464 shares repurchased, leading to a discrepancy in the total shares eligible for profit distribution [4][5]. Group 2: Differentiated Dividend Plan - The proposed dividend distribution plan for 2024 includes a cash dividend of RMB 0.88 per 10 shares (tax included), calculated based on the total shares minus the repurchased shares [4][5]. - The total cash dividend to be distributed amounts to RMB 6,987,311.67 (tax included) [4]. Group 3: Calculation of Dividend Indicators - The actual participating share count for the dividend distribution is 79,401,269 shares after excluding the repurchased shares [5]. - The reference price for ex-dividend is calculated as (previous closing price - cash dividend) / (1 + change in circulating shares ratio), with the calculated reference price being approximately RMB 16.6727 per share [5]. - The impact of the differentiated dividend on the reference price is minimal, calculated at approximately 0.0042% [5]. Group 4: Conclusion - The legal opinion concludes that the differentiated dividend distribution plan adheres to the Company Law, Securities Law, Repurchase Rules, and Regulatory Guidelines, ensuring no detriment to the company or its shareholders [4][5].

关于济南恒誉环保科技股份有限公司差异化分红的 专项法律意见 致：济南恒誉环保科技股份有限公司 北京市金杜（济南）律师事务所（以下简称金杜）受济南恒誉环保科技股份有 限公司（以下简称公司或恒誉环保）委托，根据《中华人民共和国公司法》（以下 简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上市 公司股份回购规则》（以下简称《回购规则》）、《上海证券交易所上市公司自律 监管指引第7号——回购股份》（以下简称《监管指引第7号》）及《上海证券交易 所股票上市规则》等中华人民共和国境内（为本法律意见之目的，不包括中华人民 共和国香港特别行政区、中华人民共和国澳门特别行政区和中华人民共和国台湾 地区）现行有效的法律、法规和规范性文件的规定以及《济南恒誉环保科技股份有 限公司章程》，就公司2024年度利润分配所涉及的差异化分红（以下简称本次差 异化分红）相关事项，按照律师行业公认的业务标准、道德规范和勤勉尽责精神， 出具本法律意见。 本法律意见的出具已得到公司如下保证： 1.公司向金杜提供的所有文件资料及所作出的所有陈述和说明均是真实、准确、 完整和有效的，且一切足以影响本法律意见的事实和文件均已向金杜披 ...

证券代码：688309 证券简称：恒誉环保 公告编号：2025-013 济南恒誉环保科技股份有限公司 2024年年度权益分派实施公告 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025年 5月 20 日的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 （公司回购专用证券账户除外） 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等规定， 公司回购专用账户中的股份，不享有股东大会表决权、利润分配、公积金转增股 本、认购新股和可转换公司债券等权利、不得质押和出借。 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/20 | 2025/6/23 | 2025/6/23 | 公 ...