各位股东及股东代表： 本人作为鹏鹞环保股份有限公司（以下简称"公司"）第四届董事会独立董事，在 2024 年 严格按照《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》"）《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监 管指引第 2 号——创业板上市公司规范运作》《上市公司独立董事管理办法》等法律、法规、 规范性文件和公司章程制度的要求，认真履行独立董事的职责，维护公司整体利益和股东的合 法权益，充分发挥了独立董事和各专门委员会委员的作用。现将本人 2024 年度履职情况报告 如下： 一、独立董事基本情况 本人陈易平，1971 年 3 月出生，南京大学法律专业硕士学历。1995 年 4 月至 1996 年 12 月任无锡东华律师事务所实习律师/律师；1997 年 1 月至 2003 年 6 月先后于无锡天柱律师事 务所、无锡英特尔律师事务所、江苏居和信律师事务所任律师；2003 年 7 月至 2005 年 12 月 任江苏沁园春律师事务所律师、合伙人；2006 年至今任江苏瑞莱律师事务所主任律师。自 2022 年 5 月起担任公司独立董事。 ...

Financial Performance - The company's operating revenue for 2024 was ¥1,909,719,320.20, a decrease of 8.04% compared to ¥2,076,713,711.85 in 2023[26]. - Net profit attributable to shareholders for 2024 was ¥158,905,102.70, down 38.38% from ¥257,871,261.27 in 2023[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥106,853,878.61, a decrease of 37.08% from ¥169,832,414.55 in 2023[26]. - The basic earnings per share for 2024 was ¥0.2179, down 35.44% from ¥0.3375 in 2023[26]. - The total assets at the end of 2024 were ¥8,073,497,244.90, an increase of 1.93% from ¥7,920,625,383.78 at the end of 2023[26]. - The cash flow from operating activities for 2024 was ¥129,613,464.38, an increase of 45.68% compared to ¥88,969,182.06 in 2023[26]. - The company reported a significant decline in quarterly net profit, with a loss of ¥50,573,386.99 in Q4 2024, compared to profits in the first three quarters[28]. - The company’s total liabilities and equity structure indicates a slight decrease in net assets attributable to shareholders, which was ¥4,207,534,158.67 at the end of 2024, down 1.11% from ¥4,254,589,234.18 at the end of 2023[26]. Risks and Challenges - The company faces risks related to project delays, budget overruns, and cash flow issues due to changes in national policies and market conditions[4]. - The company acknowledges risks associated with water treatment quality, particularly from industrial wastewater exceeding pre-treatment standards[8]. - The company is experiencing intensified competition in urban sewage treatment and comprehensive environmental services, with numerous competitors in various segments[5]. - The company is focused on enhancing its cash flow management and internal controls to mitigate risks from accounts receivable as business scales up[9]. Strategic Initiatives - The company is actively involved in new product development, including innovative water treatment solutions using stainless steel materials[21]. - The company is expanding its market presence in emerging fields such as new energy and ecological environment governance[4]. - The company has identified growth opportunities in the rural sewage treatment market, which still has potential for expansion[36]. - The company is committed to maintaining a stable and rapid growth trajectory despite potential external risks[9]. Environmental Compliance - The company operates multiple wastewater treatment plants with specific pollutant discharge limits, including COD, NH3-N, TN, and TP[150]. - The company’s wastewater treatment plants are required to meet stringent discharge standards, including COD ≤ 50 mg/l and TN ≤ 15 mg/l[150]. - The company is committed to strict compliance with the Class A standard for wastewater treatment, ensuring that TN emissions do not exceed 65.70 tons[152]. - The company aims to maintain BOD emissions at 31.29 tons for the upcoming year, ensuring compliance with environmental regulations[152]. Research and Development - The company has obtained 9 invention patents and 9 utility model patents during the reporting period, reflecting its commitment to innovation[55]. - The company’s R&D investment amounted to CNY 28,065,891.14 in 2024, representing 1.47% of operating revenue, up from 1.30% in 2023[72]. - The number of R&D personnel decreased by 10.39% to 69 in 2024 from 77 in 2023, with a corresponding decrease in the proportion of R&D personnel from 5.91% to 5.39%[72]. - The company has developed advanced integrated control systems for high-density sedimentation tanks, improving operational efficiency and automation[71]. Corporate Governance - The company has a governance structure with no differential voting rights arrangements applicable[111]. - The current board includes key personnel such as the chairman and general manager, Wang Pengyao, who has been in position since April 2019[114]. - The company has maintained a stable management team with no dismissals or resignations reported[113]. - The total compensation for directors, supervisors, and senior management during the reporting period amounted to CNY 4.57 million[120]. Legal and Regulatory Matters - The company faced an administrative penalty of RMB 586,400 for illegally discharging water pollutants through unauthorized pipes[151]. - The company has implemented corrective measures following the penalty, ensuring compliance with environmental regulations[151]. - The company is involved in ongoing arbitration related to a labor dispute with a potential claim of 14.59 million yuan[175]. - The company has a pending case regarding a sales contract dispute with a claim of 1.17 million yuan[175]. Market Expansion and Future Outlook - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[100]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $200 million earmarked for potential deals[99]. - The company plans to invest $100 million in sustainability initiatives over the next three years[100]. - The company aims to expand its market presence by increasing exports to non-EU countries and pursuing bio-jet fuel trials at Northeast airports in collaboration with China National Aviation Fuel[94].

Financial Performance - The company's operating revenue for Q1 2025 was ¥270,633,546.76, a decrease of 48.23% compared to ¥522,804,241.52 in the same period last year[5] - Net profit attributable to shareholders increased by 37.97% to ¥134,218,480.18 from ¥97,280,335.19 year-on-year[5] - Basic and diluted earnings per share rose by 40.28% to ¥0.1783 from ¥0.1271 in the same period last year[5] - The net profit for the current period is CNY 131,319,843.93, representing an increase of 41.9% compared to CNY 92,546,823.33 in the previous period[17] - The net profit attributable to the parent company was 134,218,480.18 CNY, an increase from 97,280,335.19 CNY in the previous period, representing a growth of approximately 38%[18] Cash Flow - The net cash flow from operating activities improved by 79.08%, reaching -¥8,099,193.93 compared to -¥38,724,233.06 in the previous year[5] - Cash inflow from operating activities totaled 496,622,607.72 CNY, down from 707,186,394.26 CNY, indicating a decrease of approximately 30%[20] - Cash outflow from operating activities was 504,721,801.65 CNY, compared to 745,910,627.32 CNY, showing a reduction of about 32%[20] - The net cash flow from investing activities was 151,012,696.85 CNY, a significant improvement from -42,276,104.75 CNY in the previous period[21] - The net cash flow from financing activities was -36,148,470.84 CNY, contrasting with a positive flow of 70,805,159.54 CNY in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,897,039,536.82, a decrease of 2.19% from ¥8,073,497,244.90 at the end of the previous year[5] - The total liabilities at the end of the period are CNY 3,431,649,345.87, down from CNY 3,742,221,078.76 at the beginning of the period[14] - The total equity attributable to the parent company increased to CNY 4,341,752,638.85 from CNY 4,207,534,158.67, reflecting a growth of 3.2%[14] Shareholder Information - The company had a total of 36,430 common shareholders at the end of the reporting period[9] - The largest shareholder, Yixing Pengyao Investment Co., Ltd., holds 28.52% of the shares, with 48,140,000 shares pledged[9] Non-Recurring Gains and Losses - Non-recurring gains and losses amounted to ¥82,289,934.45, primarily driven by the disposal of non-current assets[6] - The company does not have any other non-recurring gains and losses beyond those reported[6] Inventory and Receivables - The accounts receivable decreased to CNY 1,428,882,127.05 from CNY 1,632,939,608.64, a decline of 12.5%[13] - The inventory increased to CNY 222,316,444.38 from CNY 211,479,445.08, an increase of 5.9%[13] Borrowings - The long-term borrowings increased to CNY 1,059,646,259.36 from CNY 1,009,341,756.66, an increase of 5.0%[14] Mergers and Acquisitions - The company did not execute any mergers or acquisitions during the reporting period[23]

投资者关 系活动类 别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □√路演活动 □现场参观 □其他 （请文字说明其他活动内容） 参与单位 名称与人 员姓名 宁电投资 卢小龙 红杉资本 闫慧辰 长盛基金 赵启超 中信证券 王喆 裘科 时间 2025 年 03 月 19 日 16:30 - 18:00 地点 济南市泺源大街 106 号香格里拉酒店 上市公司 接待人员 姓名 陈伟锋先生 公司投资关系总监 投资者关 系活动主 要内容介 绍 主要交流内容： 1、公司传统水务板块目前投资运营有多少存量项目，总运营规模多 大？ 答：公司水务投资运营项目按照项目区分的话目前存量有 35 个， 公司水务板块累计运营规模的总设计水量近 200 万吨/天。 2、请介绍一下 SEED 装配式水厂建造技术优势及成本优势？ 答：公司的 SEED 水厂的成本优势和技术优势明显，打破传统钢 混结构，使水厂的建设模式从现场施工转变为工厂制造；将水厂项目 按照产品化的思路，从研发设计、生产制造、安装及营运等方面全面 优化，达到高度集成化、产品化。SEED 水厂技术结合光伏和储能技 术，使水厂运营成本大幅度降低，提高了 ...

| | 的净水项目及为期 5 年的运营、中标设计规模 3 万立方米/天河南汤 | | | | | --- | --- | --- | --- | --- | | | 阴城南污水处理 BOT 项目，这两个项目均采用我司今年主推的装配式 | | | | | | SEED 水厂建造模式，另有潜在十多个重点项目在跟踪。 | | | | | | 4、公司固废板块有多少存量项目？ | | | | | | 答：固废板块主要是污泥和病死畜禽两类项目。其中污泥处理项 | | | | | | 目利用污泥干化焚烧技术的日处理规模 1200 吨/天，利用污泥发酵技 | | | | | | 术的日处理规模 500 吨/天，利用硫酸分解法的病死畜禽类项目总的 | | | | | | 日设计处理量 60 吨/天。鹏鹞环保在固废处置技术和资源利用化技术 | | | | | | 方面具有一定优势，拥有多项专利技术，可通过技术创新提升固废资 | | | | | | 源化利用的效率和效果，推动固废板块发展。 | | | | | | 5、公司固废板块未来增长空间有多大？ | | | | | | 答：目前我国污泥处理项目在区域上存在不平衡，东部发达地 ...

| 投资者关 | □√特定对象调研 □分析师会议 | | --- | --- | | 系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位 | 中邮证券 彭文超、冯孟军 | | | 国盛证券 顾卫民 | | 名称与人 | 华福证券 周俊俊 | | | 长城证券 朱斌 | | 员姓名 | 东方财富证券 顾煜、蔡正阳 | | | 苏州蕴盛资本 龚亮 | | | 蚂蚁数字集团 钮原安 | | 时间 | 2025 年 02 月 25 日 15:00 - 17:00 | | 地点 | 鹏鹞环保股份有限公司 宜兴市高塍镇鹏鹞科技创新园 | | 上市公司 | | | 接待人员 | 陈伟锋先生 公司投资关系总监 | | 姓名 | | | | 交流内容： | | | 1、公司传统水务板块目前投资运营有多少存量项目，总运营规模多 | | | 大？ | | | 答：公司水务投资运营项目按照项目区分的话目前存量有 35 | | 投资者关 | 个，公司水务板块累计运营规模的总设计水量近 200 万吨/天。 | | 系活 ...

| | 8、公司与盘锦宏业石化的合作模式是怎样的？后续利润分配情况？ 答：我们和盘锦宏业石化是委托加工合作模式，无需利润分配。 | | --- | --- | | | 9、轻资产运营（托管租借+技术工艺升级改造模式）的优势在哪里？ | | | 答：资本开支小、前期减少投入，现金流更加安全，后期产品分 | | | 摊的成本小。 | | | 10、投资 1.2 亿元就能实现 SAF 装置的改造，未来通过装置生产 SAF | | | 的产能会不会上的很多？ | | | 答：市场价格合理的条件下，未来我们有扩大产能的后期规划。 | | | 11、SAF 行业的壁垒在哪里？技术、成本、还是下游客户资源？ | | | 答：技术壁垒：生产技术门槛高，生物质原料的处理难度大，对 | | | 设备和催化剂要求高。 | | | 12、2024 年 9 月 3 日产出合格 SAF，整体的产品收率为 82%，其中以 | | | 原料为基准的 SAF 收率 55%、HVO 收率 14%、生物轻油 13%，其中生物 | | | 轻油的盈利情况如何？后续 SAF 的收率还有进一步提升的空间吗？ | | | 答：生物轻油目前未销售，国内和国 ...

申万宏源证券承销保荐有限责任公司 关于鹏鹞环保股份有限公司 2024年9月公司收到江苏监管局出具的《江苏证监局关于对鹏鹞环保股份有限公司及相关责任 人采取出具警示函措施的决定》，因公司股权激励计划存在代持的情况、关联担保金额披露不准确 等问题，江苏证监局对公司及相关人员采取出具警示函的行政监管措施，并记入证券期货市场诚信 档案，深圳证券交易所对于相关事项也发出了监管函。针对以上问题，公司已高度重视并积极整改， 并向江苏证监局报送了书面说明。保荐人已督促公司及时清理，并加强对证券法律法规的培训，帮 助公司提高信息披露质量。 3、 业绩波动的问题 2024年度现场检查报告 | 保荐人名称：申万宏源证券承销保荐有限责任公司 | 被保荐公司简称：鹏鹞环保 | | | | --- | --- | --- | --- | | 保荐代表人姓名：郑春定 | 联系电话：025-84763720 | | | | 保荐代表人姓名：唐品 | 联系电话：025-84763720 | | | | 现场检查人员姓名：唐品、卢文洁 | | | | | 现场检查对应期间：2024年度 | | | | | 现场检查时间：2025年1月14日 | ...

Group 1: SAF Sales and Production - Pengyao Environmental has signed a sales contract with a subsidiary of China National Petroleum Corporation for nearly 5,000 tons of SAF, marking its first sale in the bio-jet fuel sector [2] - The production and sales of SAF are adjusted based on market prices, with a comprehensive sales and procurement plan [2] Group 2: Pricing Mechanism - The sales pricing mechanism considers market prices and production costs, ensuring that the sales price is not lower than the raw material procurement cost and actual production cost while maintaining a certain gross margin [2] - Factors influencing pricing include market supply and demand trends, customer cooperation duration, and alignment with the company's 3-5 year strategic development plan [2] Group 3: Profit Forecasts - The profit forecast for the biodiesel segment in 2025 is based on market prices and SAF production capacity utilization, with a positive outlook for the SAF market in 2025 [3] - The EU's ReFuelEU aviation regulation mandates that by 2025, all flights departing from EU airports must use a blend of 2% SAF, aiming for 70% by 2050, with global SAF demand projected at 6 million tons in 2025 and 20 million tons in 2030 [3] Group 4: Business Outlook for 2024 - The environmental industry is facing pressure due to slower-than-expected macroeconomic recovery, impacting revenue and profits [3] - Despite industry challenges, Pengyao Environmental expects stable growth in its main business for 2024, driven by effective management and cost control measures [3]

证券代码：300664 证券简称：鹏鹞环保 公告编号：2024-059 鹏鹞环保股份有限公司 关于控股股东部分股份解除质押的公告 | 宜兴鹏鹞 | 21,670.215 | | | 4,814 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 投资有限 | | | 28.52% | | 22.21% | 6.34% | 0 | 0 | 0 | 0 | | | 万股 | | | 万股 | | | | | | | | 公司 | | | | | | | | | | | | 陈宜萍 | 413.708 | 万 | 0.54% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | | 股 | | | | | | | | | | | 合计 | 22,083.923 | | 29.06% | 4,814 | 21.80% | 6.34% | 0 | 0 | 0 | 0 | | | 万股 | | | 万股 | | | | | | | 注：公司实际控制人之一王洪春持有鹏鹞投资 80%股权，陈宜萍为王洪 ...