Core Viewpoint - The stock of Haineng Technology has shown a positive trend with a year-to-date increase of 14.37%, reflecting strong performance in the clean energy and chemical sectors [1][2]. Financial Performance - For the period from January to September 2025, Haineng Technology achieved a revenue of 1.942 billion yuan, representing a year-on-year growth of 5.60% [2]. - The net profit attributable to the parent company was 57.9511 million yuan, marking a significant year-on-year increase of 109.15% [2]. Stock Market Activity - As of October 28, the stock price was 4.06 yuan per share, with a trading volume of 37.4696 million yuan and a turnover rate of 0.40% [1]. - The stock has seen a net outflow of 1.914 million yuan from major funds, with large purchases accounting for 15.74% and sales for 20.85% of the total trading volume [1]. Shareholder Information - As of October 20, the number of shareholders increased to 45,800, up by 4.90%, while the average circulating shares per person decreased by 4.67% to 50,928 shares [2]. - The company has distributed a total of 863 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Company Overview - Haineng Technology, established on June 3, 1997, and listed on April 27, 2010, is based in Haidian District, Beijing, and specializes in the research, production, and sales of environmentally friendly new materials and chemical products [1]. - The main business revenue composition includes 50.98% from environmental materials and chemical products, and 48.51% from hydrocarbon-based biodiesel [1].

Core Insights - A total of 224 companies released their Q3 2025 financial reports on October 27, with 126 companies reporting year-on-year profit growth and 98 reporting declines [1] - Among these, 86 companies experienced simultaneous growth in both net profit and revenue, while 58 companies saw declines in both metrics [1] - Notably, 30 companies reported a doubling of their performance, with Shen Shen Fang A showing the highest increase in net profit at 2791.57% [1] Summary by Category Net Profit Growth - 126 companies reported a year-on-year increase in net profit, while 98 companies reported a decrease [1] - Shen Shen Fang A had a net profit of 145.12 million yuan, marking a 2791.57% increase [1] - Other notable performers include: - Xian Lei Co. with a net profit increase of 963.10% [1] - Wei Ce Technology with a 226.41% increase [1] Revenue Growth - 126 companies reported revenue growth, while 98 companies reported a decline [1] - Shen Shen Fang A also led in revenue growth with an increase of 331.66%, totaling 898.85 million yuan [1] - Other companies with significant revenue growth include: - Xin Lei Co. with a revenue of 582.74 million yuan, down 11.72% [1] - Wei Ce Technology with a revenue increase of 46.22% [1] Performance Highlights - Companies with notable performance increases include: - Shen Shen Fang A with the highest net profit growth [1] - Xian Lei Co. and Wei Ce Technology also showed significant growth in both net profit and revenue [1] - Conversely, companies like Mei Li Yun and Lian Jian Guang Dian reported substantial declines in revenue, with decreases of 63.03% and 18.73% respectively [1]

Core Insights - The stock price of Haineng Technology fell by 2.20% on October 27, trading at 4.01 CNY per share with a market capitalization of 9.422 billion CNY [1] - The company has seen a year-to-date stock price increase of 12.96% and a 109.15% year-on-year growth in net profit for the first nine months of 2025 [2][3] Financial Performance - For the period from January to September 2025, Haineng Technology reported a revenue of 1.942 billion CNY, reflecting a 5.60% increase year-on-year [2] - The net profit attributable to the parent company was 57.9511 million CNY, showing a significant increase of 109.15% compared to the previous year [2] Shareholder Information - As of October 20, 2025, the number of shareholders increased by 4.90% to 45,800, while the average circulating shares per person decreased by 4.67% to 50,928 shares [2] - The company has distributed a total of 863 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Business Overview - Haineng Technology, established on June 3, 1997, specializes in the research, production, and sales of environmentally friendly materials and chemical products, among other services [2] - The main revenue sources are environmentally friendly materials and chemical products (50.98%) and hydrocarbon-based biodiesel (48.51%) [2]

Core Viewpoint - The company has successfully turned around its performance in the hydrocarbon biodiesel market, achieving significant revenue growth and profitability in the first three quarters of 2025 [1][3]. Financial Performance - The company reported a total revenue of 1.942 billion yuan and a net profit attributable to shareholders of 57.95 million yuan for the first three quarters of 2025 [1]. - In Q3 2025, the company achieved a revenue of 958 million yuan, representing a year-on-year increase of 63.82% [1]. - The net profit for Q3 2025 was 93.33 million yuan, following a profit of 14.52 million yuan in Q2 2025 [1]. - The company's debt ratio decreased to 29.81% by the end of September 2025, down from 38.99% at the end of 2024, reflecting a reduction of 9.18 percentage points [1]. - Financial, management, and sales expenses all decreased year-on-year [1]. Strategic Focus - The company has identified bioenergy as its core strategic pillar, implementing innovative sales strategies to expand its non-EU customer base and successfully fulfilling long-term sales contracts with these clients [1]. - The operational management level has improved steadily, with ongoing optimizations in quality control, supplier management, and catalyst solutions [1]. Industry Trends - Sustainable Aviation Fuel (SAF) is highlighted as a key growth area, with the company focusing on this sector due to its significant carbon reduction capabilities and compatibility with traditional aviation fuels [2]. - The company has established a stable operation of its subsidiary project, enhancing its supply chain capabilities and securing long-term contracts with core suppliers [2]. - The company has received approval for SAF exports, allowing it to independently apply for export licenses, which will enhance its production planning and international competitiveness [2]. Market Outlook - Global demand for SAF is expected to surge due to mandatory blending policies, with the EU projected to consume approximately 610,000 tons of SAF in 2024 and an additional 1.3 million tons in 2025 [3]. - In China, the SAF demand is estimated to reach around 2.49 million tons by 2030, driven by a blending ratio target set by IATA [3]. - The price of SAF has risen significantly, with the offshore high-end price reaching 2,500 USD per ton as of October 18, 2025, marking a 38.9% increase since the beginning of the year [3]. - The company is expected to achieve a full-year turnaround in 2025, providing better returns to shareholders while continuing to invest in long-term growth [3].

Core Viewpoint - The company, Beijing Hai New Energy Technology Co., Ltd. (Hai New Energy), reported significant growth in revenue and profit for Q3 2025, driven by opportunities in the hydrocarbon biodiesel market and effective sales strategies [2][3]. Financial Performance - In Q3 2025, the company achieved revenue of 958 million yuan, a year-on-year increase of 63.82% [2]. - From January to September 2025, the company reported total revenue of 1.942 billion yuan, up 5.60% year-on-year, and a net profit of 57.95 million yuan, marking a turnaround from losses [2]. Business Development - The company has successfully turned around its business segments to profitability by leveraging market opportunities in hydrocarbon biodiesel [2]. - Hai New Energy has expanded its customer base beyond the EU and is executing long-term contracts with European clients, enhancing its market adaptability [2]. Regulatory Approval - The company's subsidiary, Shandong Sanju Bioenergy Co., Ltd., received approval from multiple Chinese government departments to participate in a pilot program for the export of biodiesel, allowing it to produce up to 158,000 tons of biodiesel annually [2][3]. Production Capacity - The company operates a biodiesel isomerization project with a capacity of 200,000 tons per year, producing approximately 160,000 tons of bio-jet fuel annually [4]. - The qualification for the export whitelist is expected to improve production planning and capacity utilization [4]. Market Outlook - The global demand for biofuels in the aviation sector is projected to exceed 300 million tons by 2050, presenting a market opportunity worth trillions of dollars [4]. - The company plans to focus on internal and external growth in the bioenergy sector over the next three years, including raw material collection, product upgrades, and strategic partnerships [4][5]. Innovation and R&D - The company aims to enhance the competitiveness of its catalytic purification products and expand market share through continuous technological innovation and increased R&D investment [5].

Core Viewpoint - The company reported a revenue of 1.942 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 5.60% and achieving profitability with a net profit of 58 million yuan, compared to a loss in the previous year [1] Financial Performance - Revenue for the first three quarters reached 1.942 billion yuan, reflecting a 5.60% increase year-on-year [1] - The net profit attributable to shareholders was 58 million yuan, indicating a turnaround from a loss to profitability [1] - Basic earnings per share were reported at 0.0247 yuan [1]

北京海新能源科技股份有限公司 证券代码：300072 证券简称：海新能科 公告编号：2025-048 北京海新能源科技股份有限公司 关于2025年前三季度计提减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 一、计提减值准备及核销坏账情况 根据《企业会计准则》及公司会计政策的相关规定，为更加客观、公正地反 映公司的财务状况和资产价值，公司对2025年前三季度合并报表范围内各类应收 款项、其他应收款、合同资产、存货、固定资产、在建工程、长期股权投资、使 用权资产、无形资产、商誉等资产进行了全面清查，对各类存货的可变现净值， 应收款项回收的可能性，长期股权投资减值的可能性，固定资产、合同资产、在 建工程及无形资产等的可变现性进行了充分的评估和分析，认为上述资产中部分 资产存在一定的减值迹象。基于谨慎性原则，公司对可能发生减值损失的相关资 产进行计提减值准备。 公司及下属子公司对2025年前三季度存在可能发生减值迹象的资产（范围包 括应收款项、其他应收款、合同资产、存货、固定资产、在建工程、长期股权投 资、无形资产、商誉等）进行全面清查后，各项资产减值 ...

北京海新能源科技股份有限公司 一、审议通过《关于<2025年第三季度报告>的议案》 经审议，董事会认为《2025年第三季度报告》的编制和审核程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司2025 年第三季度经营的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 本议案已经公司董事会审计委员会2025年度第六次会议审议通过。 证券代码：300072 证券简称：海新能科 公告编号：2025-046 北京海新能源科技股份有限公司 第六届董事会第二十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 北京海新能源科技股份有限公司（以下简称"公司"）董事会于2025年10月20 日以传真和电子邮件方式向全体董事发出第六届董事会第二十八次会议通知，会 议于2025年10月24日上午10:00在北京市海淀区西四环北路63号馨雅大厦2层公 司会议室以现场表决的方式召开。此次会议应到董事9人，实到9人，其中独立董 事3人；公司部分高级管理人员列席了本次会议；本次会议的召开符合《中华人 民共和国公司法》和《公司章程》的规定。 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥958,387,625.42, representing a year-over-year increase of 63.82%[5] - Net profit attributable to shareholders was ¥93,332,441.42, with a significant improvement compared to the previous year's loss[5] - The net profit after deducting non-recurring gains and losses was ¥46,647,052.48, a substantial recovery from a loss of ¥25,305,630.88 in the same period last year, marking a 95.91% increase[5] - Basic and diluted earnings per share for the period were both ¥0.0397, compared to ¥0.0247 for the same period last year[5] - The company achieved profitability in its business segment by leveraging the rising market opportunities for hydrocarbon-based biodiesel, successfully fulfilling long-term sales contracts with non-EU customers and exceeding delivery expectations[22] - Net profit for the current period was ¥2,083,081.18, a significant recovery from a net loss of ¥703,316,269.14 in the previous period[30] - Basic and diluted earnings per share were 0.0247, compared to -0.2695 in the prior period[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,433,824,973.59, down 13.18% from the previous year[5] - Total assets decreased to ¥8,433,824,973.59 from ¥9,713,921,182.83, a decline of approximately 13.2%[27] - Current liabilities totaled ¥2,324,587,039.82, down from ¥3,383,962,231.16, representing a decrease of about 31.2%[27] - The total owner's equity amounted to ¥5,920,120,435.00, a slight decrease from ¥5,926,240,753.37[27] Cash Flow - The company's cash flow from operating activities showed a negative net amount of ¥98,448,911.13, reflecting a decline of 147.72% year-to-date[5] - Cash flow from operating activities generated a net outflow of -98,448,911.13, down from a net inflow of 206,317,488.40 in the previous year[33] - Cash inflow from investment activities was 1,292,666,815.89, a substantial increase from 72,918,894.02 in the prior period[33] - Net cash flow from financing activities showed a significant outflow of -1,189,441,966.57, compared to a net inflow of 36,860,784.23 in the previous year[33] - The total cash and cash equivalents at the end of the period were 577,770,407.01, down from 624,441,877.42 at the end of the previous period[33] - The company received cash from borrowings amounting to 373,000,000.00, an increase from 205,260,000.00 in the prior period[33] - Cash received from other investment activities was 1,232,248,748.01, a significant rise from 23,000,000.00 in the previous year[33] Operational Efficiency - The company reported a significant decrease in other receivables by 86.56% due to repayments received from debtors[9] - The company’s operational management level has steadily improved, focusing on quality control, supplier management, and catalyst solutions[22] - The company’s domestic catalytic purification business is committed to optimizing product structure and ensuring stable business development[22] - The company reported a decrease in research and development expenses to ¥78,848,723.16 from ¥91,987,544.93, indicating a reduction of about 14.3%[30] Financial Management - Financial expenses decreased by 39.14% to ¥60,892,346.78 compared to the same period last year, primarily due to reduced financing lease interest from Shandong Sanju Bioenergy Co., Ltd.[12] - The company reported a significant reduction in financial expenses, which fell to ¥60,892,346.78 from ¥100,059,984.53, a decrease of about 39.0%[30] - Credit impairment losses showed a significant improvement, decreasing by 170.72% to ¥135,994,777.55, as the company received repayments from debtors, reversing previous impairment losses.[12] Market and Growth Strategy - The company plans to continue expanding its market presence and developing new technologies to enhance its competitive edge[5] - The company signed long-term supply agreements with multiple core suppliers, enhancing its raw material supply chain security[22] - The company received approval from the Ministry of Commerce and other four ministries for the pilot export of bio-jet fuel, allowing it to independently apply for export permits, which improves production scheduling and capacity utilization[22] - The company has signed bio-jet fuel orders with overseas customers, indicating a full production schedule for the fourth quarter[22] Tax and Compliance - Cash received from tax refunds decreased by 38.15% to ¥383,542.09, mainly due to a reduction in export tax rebates.[14] - Cash paid for various taxes dropped by 81.74% to ¥27,306,523.91, primarily due to a decrease in value-added tax payments.[15]

Core Insights - The company, Haineng Technology, reported that as of October 20, 2025, the number of shareholders is 45,777 [2] Company Summary - Haineng Technology has engaged with investors through an interactive platform, providing updates on shareholder numbers [2] - The current shareholder count indicates a significant level of investor interest and engagement with the company [2]