公司代码：605588 公司简称：冠石科技 南京冠石科技股份有限公司 2025 年年度报告 南京冠石科技股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司全体董事出席董事会会议。 三、 信永中和会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、公司负责人张建巍、主管会计工作负责人潘心月及会计机构负责人（会计主管人员）陈云 声明：保证年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 截至报告期末，母公司存在未弥补亏损的相关情况及其对公司分红等事项的影响 □适用 √不适用 否 九、 是否存在半数以上董事无法保证公司所披露年度报告的真实性、准确性和完整性 否 经信永中和会计师事务所审计，公司 2025 年度归属于母公司所有者的净利润为 -70,289,114.08 元，本年度母公司实现的净利润为 112,557,460.69 元，截至 2025 年 12 月 31 日， 母公司口径期末未分配 ...

无锡药明康德新药开发股份有限公司2025 年年度报告 公司代码：603259 公司简称：药明康德 无锡药明康德新药开发股份有限公司 2025 年年度报告 无锡药明康德新药开发股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司全体董事出席董事会会议。 三、德勤华永会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、公司负责人Ge Li（李革）、主管会计工作负责人施明及会计机构负责人（会计主管人员） 孙瑾声明：保证年度报告中财务报告的真实、准确、完整。 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司2025年年度利润分配方案：拟向全体股东每10股派发现金红利人民币15.7927元（含税） 。以本报告日公司总股本测算，共计派发现金红利人民币4,712,158,162.18元（含税）。2025年度 公司现金分红总额为人民币6,754,983,352.88元。此外，本年内公司以集中竞价方式实施股份回购 并注销人民币2,000,00 ...

浙江万盛股份有限公司2025 年年度报告 公司代码：603010 公司简称：万盛股份 浙江万盛股份有限公司 2025 年年度报告 1 / 249 浙江万盛股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司全体董事出席董事会会议。 三、立信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、公司负责人操宇、主管会计工作负责人宋瑞波及会计机构负责人（会计主管人员）乐雁声明： 保证年度报告中财务报告的真实、准确、完整。 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 以实施权益分派股权登记日登记的总股本扣除公司回购专用证券账户股份数的股本为基数， 向全体股东每股派发现金红利0.01元（含税）。公司通过回购专用证券账户所持有本公司股份不 参与拟定的利润分配。如在实施权益分派股权登记日期前，若因可转债转股、回购股份、股权激 励授予股份回购注销、重大资产重组股份回购注销等致使公司总股本及应分配股数发生变动，公 司拟维持每股分配金额不变，相 ...

宁波海天精工股份有限公司2025 年年度报告 公司代码：601882 公司简称：海天精工 宁波海天精工股份有限公司 2025 年年度报告 1 / 223 宁波海天精工股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司全体董事出席董事会会议。 三、立信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、公司负责人张剑鸣、主管会计工作负责人俞盈及会计机构负责人（会计主管人员）俞盈声明： 保证年度报告中财务报告的真实、准确、完整。 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司于2026年3月20日召开第五届董事会第十二次会议，审议通过2025年度利润分配预案：按 公司总股本522,000,000股为基数，向全体股东每10股派发现金红利3.00元（含税），共计分配现 金红利156,600,000.00元，占公司2025年度实现的归属于上市公司股东净利润的36.50%，剩余未分 配利润滚存至下一年度。 截至报告期末，母公司存在未 ...

Financial Performance - Total revenue for 2025 was 3.77 billion RMB, a decrease of 3.63% compared to the previous year[4] - Operating profit for 2025 was 1.60 billion RMB, down 4.16% year-over-year[4] - Total profit for 2025 was 1.61 billion RMB, reflecting a decline of 4.74% from the prior year[4] - Net profit attributable to shareholders was 1.20 billion RMB, a decrease of 4.76% compared to the previous year[4] - Basic earnings per share for 2025 was 1.19 RMB, down from 1.25 RMB in the previous year, a decline of 4.76%[4] Assets and Equity - Total assets at the end of the reporting period were 11.45 billion RMB, a decrease of 7.07% from the beginning of the period[4] - Shareholder equity attributable to the company was 9.75 billion RMB, an increase of 0.98% compared to the previous year[4] Revenue Decline Factors - The decline in revenue was primarily due to decreased income from office buildings, shopping malls, and hotels[5] Financial Reporting and Risks - The company emphasizes that the financial data is preliminary and subject to audit, urging investors to be aware of investment risks[6] - The report was issued by the Board of Directors on March 23, 2026[9]

金财互联控股股份有限公司 2025 年年度报告全文 金财互联控股股份有限公司 2025 年年度报告 2026 年 3 月 1 金财互联控股股份有限公司 2025 年年度报告全文 2025 年年度报告 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责 任。 公司负责人朱小军、主管会计工作负责人褚文兰及会计机构负责人（会 计主管人员）褚文兰声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 对于公司经营中的相关风险分析，详见本报告"第三节 管理层讨论与分 析 十一、公司未来发展的展望（五）可能面对的风险和应对措施"部分。 公司经本次董事会审议通过的利润分配预案为：以 779,198,175 股为基数， 向全体股东每 10 股派发现金红利 0.26 元（含税），送红股 0 股（含税）， 不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 6 | | 第三节 | 管理层讨论与分 ...

Financial Performance - In 2025, the total revenue was RMB 2,783,583 million, a decrease of 9.5% compared to RMB 3,074,562 million in 2024[6] - The net profit attributable to shareholders of the parent company for 2025 was RMB 31,809 million, down 36.8% from RMB 50,313 million in 2024[6] - The operating profit for 2025 was RMB 40,470 million, reflecting a decline of 44.0% from RMB 72,257 million in 2024[6] - The basic earnings per share for 2025 were RMB 0.262, down 36.9% from RMB 0.415 in 2024[7] - The company reported a net loss from non-recurring items of RMB 2,709 million for 2025, compared to a loss of RMB 3,036 million in 2024[8] - The company reported a net profit of RMB 35.81 billion for 2025, a decline of 36.3% compared to the previous year[60] - The company's profit before tax for 2025 was RMB 43.7 billion, down 36.7% compared to the previous year[69] - Profit attributable to non-controlling interests was RMB 3.3 billion in 2025, reflecting a decline of 53.9% year-on-year[71] - Profit attributable to shareholders was RMB 32.5 billion, down 33.6% from the previous year[72] Revenue Breakdown - The main business revenue for 2025 was RMB 272.65 billion, down 9.6% year-on-year, primarily due to declines in oil and petrochemical product prices and sales volumes[61] - The exploration and development segment reported operating income of RMB 28.6 billion, a decrease of 3.8% year-on-year, with crude oil sales volume increasing by 0.5% to 34.68 million tons[78] - The refining segment's operating income was RMB 132.85 billion, down 10.3% year-on-year, with gasoline sales revenue decreasing by 10.0% to RMB 47.44 billion[80] - The marketing and distribution segment's operating income was RMB 150.53 billion, a decrease of 12.2% year-on-year[76] - The chemical segment reported operating income of RMB 46.41 billion, down 11.4% year-on-year, with operating losses of RMB 1.46 billion[76] Assets and Liabilities - The total assets as of December 31, 2025, amounted to RMB 2,155,617 million, an increase of 3.4% from RMB 2,084,771 million in 2024[6] - The total liabilities increased by 5.2% to RMB 1,165,845 million in 2025 from RMB 1,108,478 million in 2024[6] - Non-current liabilities rose to RMB 468,056 million, an increase of 7.3% from RMB 436,056 million in 2024[18] - The company's total liabilities increased by RMB 57.3 billion to RMB 1,166.6 billion as of December 31, 2025[97] - Non-current liabilities increased to RMB 467.3 billion, up RMB 32.1 billion, mainly due to the issuance of medium-term notes and low-cost bond financing[113] Cash Flow - The cash flow from operating activities for 2025 was RMB 162,496 million, an increase of 8.8% compared to RMB 149,360 million in 2024[6] - Operating cash inflow for 2025 was RMB 162.5 billion, an increase of RMB 13.1 billion year-on-year, attributed to improved management and reduced working capital[100] - Investment cash outflow for 2025 was RMB 146.5 billion, a decrease of RMB 14.8 billion year-on-year, due to reduced capital expenditures[100] Capital Expenditure - The total capital expenditure for 2025 was RMB 147.2 billion, with RMB 70.9 billion allocated to exploration and development[50] - The company plans capital expenditures of RMB 131.6 to 148.6 billion for 2026, with RMB 72.3 billion allocated for exploration and development projects[57] Production and Operations - The company achieved a historical high in oil and gas production equivalent, with significant progress in exploration and development, focusing on high-quality exploration and effective development[35] - The total oil and gas production reached 525.28 million barrels of oil equivalent in 2023, representing a year-on-year increase of 1.9%[36] - Domestic crude oil production was 255.75 million barrels, with a year-on-year growth of 0.7%[37] - Natural gas production amounted to 1,456.63 billion cubic feet, reflecting a 4.0% increase compared to the previous year[37] - The company processed 250 million tons of crude oil in 2025, with a production of 44.22 million tons of chemical light oil, marking an 8.4% year-on-year increase[40] Market Trends - In 2025, the average Brent crude oil price was $69.1 per barrel, a decrease of 14.5% year-on-year[32] - Domestic natural gas consumption increased by 2.9% year-on-year, indicating sustained demand in the market[32] - The domestic refined oil market saw a decline in demand, with total consumption down by 4.1%, including a 4.5% decrease in gasoline and a 5.6% decrease in diesel[33] - The domestic chemical market maintained growth, with ethylene equivalent consumption rising by 8.5% year-on-year[34] Strategic Initiatives - The company aims to enhance its marketing capabilities and expand its natural gas sales network, focusing on providing comprehensive solutions[25] - The company aims to accelerate the development of new energy and materials, including wind power, photovoltaics, and hydrogen energy[25] - The company is committed to environmental, social, and governance (ESG) initiatives, including carbon peak actions and green enterprise plans[116] - The company is actively engaging in initiatives to improve its sustainability practices and reduce carbon emissions in line with global trends[173] Governance and Leadership - The board of directors of Sinopec consists of 13 members, including 4 executive directors and 9 non-executive directors, with independent non-executive directors making up approximately 38% of the board[129] - Sinopec's board has implemented a diversity policy, achieving a female director representation of about 8%, with a target of at least one female director[130] - The company emphasizes a culture of open discussion and thorough deliberation on significant decisions during board meetings[141] - The company has established a whistleblower mechanism for reporting concerns related to accounting and internal controls[157] Employee and Workforce - As of December 31, 2025, the company has a total of 351,104 employees and 351,623 retirees[16] - The employee distribution by business sector is as follows: Exploration and Production 31.1%, Refining 15.6%, Chemicals 17.0%, Marketing and Distribution 32.9%, Research 2.1%, and Others 1.3%[191] - The educational background of employees shows that 10.5% hold a Master's degree or higher, 31.6% have a Bachelor's degree, and 23.8% have an Associate degree[195]

Financial Performance - Total operating revenue for 2025 was CNY 1,215,199.32 million, a decrease of 15.90% compared to CNY 1,445,021.25 million in the previous year[4] - Net profit attributable to shareholders was CNY 53,221.29 million, down 34.07% from CNY 80,721.77 million year-on-year[4] - Basic earnings per share decreased to CNY 0.12, a decline of 33.33% from CNY 0.18 in the previous year[4] - The decline in net profit was primarily due to the divestment of non-renewable assets, reduced water flow in the Yuan River basin, and increased intermediary service fees during the restructuring[6] - The company expects a decrease of approximately CNY 275 million in net profit attributable to shareholders compared to the previous year[6] Assets and Equity - Total assets at the end of the reporting period were CNY 6,356,572.87 million, a decrease of 27.95% from CNY 8,822,822.08 million at the beginning of the period[4] - The company’s equity attributable to shareholders increased by 3.73% to CNY 1,701,556.68 million from CNY 1,640,426.69 million[4] - The company experienced a significant increase in total assets and equity due to the merger with Wuling Power Co., Ltd. and Guangxi Changzhou Hydropower Development Co., Ltd.[6] Return on Assets - The company’s weighted average return on net assets decreased to 3.19% from 5.07%[4] Financial Data Disclaimer - Investors are advised that the financial data presented is preliminary and may differ from the final annual report by no more than 10%[7]

Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year 2025, representing a year-over-year increase of 15%[16]. - The gross profit margin improved to 30%, up from 25% in the previous year, indicating better cost management and pricing strategies[16]. - The company's operating revenue for 2025 reached ¥5,408,015,472.36, representing a 31.07% increase compared to ¥4,125,942,057.43 in 2024[5]. - The net profit attributable to shareholders for 2025 was -¥438,075,274.79, an improvement of 28.32% from -¥611,169,483.69 in 2024[5]. - The company achieved a significant improvement in the yield rate of 4-inch substrates, reaching 80%[68]. - In 2025, the company achieved a total revenue increase of 31.07% year-on-year, with net profit improving by 28.32%[62]. - The company reported a weighted average return on equity of -6.49% for 2025, an improvement from -8.45% in 2024[5]. - The company has reported a total of ¥178,962,616.17 in non-recurring gains for 2025, primarily from government subsidies and other income[27]. Market Expansion and Product Development - User data showed an increase in active users by 20% year-over-year, reaching 2 million active users by the end of 2025[16]. - The company plans to launch three new products in 2026, focusing on Mini LED and Micro LED technologies, which are expected to drive future growth[16]. - Market expansion efforts include entering two new international markets, aiming for a 10% increase in overseas sales by 2026[16]. - The company is focused on expanding its product offerings in Micro LED and GaN power electronic devices, aiming to enhance its market presence[30]. - The company is advancing its Micro LED technology, with plans to commercialize products in the AR micro-display sector by Q1 2026[82]. - The company has established a strong position in the automotive LED market, with significant improvements in product brightness and performance, contributing to profitability enhancement[51]. - The company is developing third-generation semiconductor technology to enhance competitiveness and industry influence, aiming for significant economic benefits[83]. Research and Development - The company has allocated RMB 200 million for R&D in new technologies, particularly in GaN semiconductor applications, to enhance product offerings[16]. - The company emphasizes R&D investment to drive technological innovation and improve operational efficiency[30]. - The company’s R&D investment for 2025 is approximately ¥296.98 million, representing 5.49% of total revenue, a decrease from 5.82% in 2024[85]. - The company has strengthened its technological innovation capabilities and established a high-level R&D team, focusing on future-oriented technologies like Micro LED[55]. - The company is investing heavily in R&D, with a budget increase of 25%, totaling 300 million RMB for new technology development[158]. Financial Management and Cash Flow - The net cash flow from operating activities for 2025 was -¥645,412,057.93, a significant decline of 676.77% compared to ¥111,901,671.14 in 2024[5]. - Operating cash inflow increased by 34.05% to ¥4.90 billion in 2025, primarily due to higher sales revenue[87]. - Operating cash outflow rose by 56.48% to ¥5.55 billion, mainly driven by increased cash payments for purchased goods[88]. - The company’s cash management strategies have improved accounts receivable turnover days, effectively reducing bad debt risks[66][67]. - The company reported a negative distributable profit of ¥2,074,131,460.27, with no cash dividends proposed for the reporting period[176]. Governance and Management - The company has not reported any unresolved governance issues and has complied with the latest regulatory requirements from the China Securities Regulatory Commission and the Shenzhen Stock Exchange[120]. - The company has revised its Articles of Association to eliminate the supervisory board, enhancing the supervisory functions of the audit committee under the board of directors[119]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[125]. - The company has established a performance evaluation and incentive mechanism linking senior management compensation to company performance[128]. - The company has maintained independence from its controlling shareholder, with no instances of fund occupation or guarantees provided to the controlling shareholder[124]. Employee and Talent Management - The total number of employees at the end of the reporting period is 2,902, with 1,589 in production, 1,202 in technical roles, and 58 in sales[172]. - The company has established a comprehensive training program focusing on leadership and professional development across various management levels[174]. - The company has implemented a stock incentive plan starting in 2024 to retain core talent and support business strategy execution[190]. - The company has a robust human resources department responsible for recruitment, training, and compensation, operating independently without external interference[137]. - The employee education levels include 10 with doctoral degrees, 189 with master's degrees, and 871 with bachelor's degrees, reflecting a highly educated workforce[172]. Challenges and Risks - The company is facing challenges such as weak terminal demand in the LED chip market and rising costs of precious metals, impacting overall profitability[44]. - The global economy is projected to grow by 3.2% in 2025, but uncertainties and risks remain, impacting the company's development[111]. - The LED chip market revenue is expected to decline by 1% year-on-year due to price drops and increased competition, affecting overall industry performance[111]. - The company faces intensified market competition, particularly in the LED sector, which could lead to reduced profitability[113]. Strategic Initiatives - The company aims to enhance product competitiveness and profitability through new technologies and product development in the LED industry[84]. - The company plans to deepen market expansion by enhancing customer relationships and exploring emerging growth areas such as AR, ADB, and plant lighting[106]. - The company is committed to sustainable development, integrating it into all value chain aspects, including finance, human resources, production, procurement, logistics, R&D, and sales[190]. - The company has established "Anxin Home" to address employee daily living and human resource issues, enhancing employee support[191].

Financial Performance - The company's revenue for 2025 reached approximately ¥11.23 billion, representing a 5.33% increase compared to ¥10.67 billion in 2024 [23]. - Net profit attributable to shareholders for 2025 was approximately ¥731.15 million, a 35.98% increase from ¥537.69 million in 2024 [23]. - The net profit after deducting non-recurring gains and losses for 2025 was approximately ¥773.92 million, up 33.76% from ¥578.58 million in 2024 [23]. - The basic earnings per share for 2025 was ¥0.85, reflecting a 37.10% increase from ¥0.62 in 2024 [23]. - The total assets at the end of 2025 amounted to approximately ¥9.13 billion, a 2.89% increase from ¥8.88 billion at the end of 2024 [23]. - The net assets attributable to shareholders at the end of 2025 were approximately ¥3.90 billion, a 27.51% increase from ¥3.06 billion at the end of 2024 [23]. - The weighted average return on equity for 2025 was 20.94%, an increase of 1.85% from 19.09% in 2024 [23]. - The net cash flow from operating activities for 2025 was approximately ¥1.51 billion, a slight increase of 1.26% from ¥1.49 billion in 2024 [23]. - The company achieved a total revenue of 11.233 billion yuan in the reporting period, representing a year-on-year growth of 5.33% [32]. - The net profit attributable to shareholders reached 731 million yuan, an increase of 35.98% year-on-year [32]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 774 million yuan, up 33.76% year-on-year [32]. - The sales net profit margin improved to 6.72%, an increase of 1.57 percentage points compared to the previous year [32]. Dividend Distribution - The company plans to distribute a cash dividend of 3.80 CNY per 10 shares to all shareholders, based on a total of 860,677,197 shares [5]. - The company plans to increase the total dividend for 2024 by 90% compared to the previous year, aiming to enhance shareholder returns [34]. - The cash dividend distribution plan for 2025 requires approval at the annual shareholders' meeting and will not include stock dividends or capital reserve transfers [196]. Governance and Compliance - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no false statements or significant omissions [4]. - The annual report emphasizes the importance of accurate financial reporting and compliance with regulatory standards [4]. - The company has established a complete internal control system to ensure compliance with relevant laws and regulations, enhancing governance levels [144]. - The company has implemented a robust internal audit system to identify operational issues and propose corrective measures [148]. - The company maintains financial independence with a dedicated finance department and independent accounting system, ensuring no shared bank accounts with controlling shareholders [152]. - The company has established specialized committees within the board to enhance oversight and strategic decision-making [145]. - The company has made continuous improvements to its internal control systems to adapt to operational needs and mitigate risks [149]. - The internal control evaluation results indicate that all controls are functioning effectively without any major issues [200]. Market and Competitive Landscape - The company acknowledges risks such as intensified market competition, product quality control, and potential natural disasters affecting operations [4]. - Future plans and strategic developments are subject to market risks, and investors are advised to maintain awareness of these risks [4]. - The competitive landscape of the domestic dairy industry remains stable, with national leaders maintaining market share, while some companies face performance pressures but show vitality through supply chain management and innovation [48]. - The company faces intensified market competition, with rising consumer demand for high-quality dairy products, necessitating ongoing product innovation and marketing efforts to maintain market share [50]. - The company is committed to creating a fresh supply chain that ensures rapid delivery and high-quality products [130]. Innovation and R&D - The company established a microbial strategic resource library with a scale of 2,100 strains, positioning itself as an industry leader in microbial resource development [37]. - The company filed a total of 39 patent applications in 2025, including 14 invention patents, and received 27 patent authorizations [37]. - The company is focusing on the development of new fermentation dairy products, including bubble yogurt and functional fermented milk, to achieve new breakthroughs in production value [104]. - The company is committed to the health development of the probiotic industry in China by creating domestically sourced probiotic strains to reduce reliance on imports [103]. - The company has invested CNY 500 million in R&D for new technologies aimed at improving production efficiency [176]. Marketing and Brand Strategy - Brand value has been integrated into consumer lifestyles, with successful marketing campaigns such as the "24-hour Fresh Milk Festival" enhancing brand awareness and emotional connection [42]. - The "Romantic DNA" campaign for the brand "Chuxin" has created a comprehensive emotional experience, significantly enhancing brand warmth and user loyalty [43]. - The company is enhancing brand building and marketing innovation, investing in brand resources to strengthen trust and differentiate sub-brands [133]. Operational Efficiency - The company maintains a complete R&D, procurement, production, and sales system, with no significant changes in its main operating model during the reporting period [62]. - The company has established a stable and high-quality milk source layout, which, along with an efficient cold chain distribution system, enhances its market share and brand influence in key regions like Sichuan, Yunnan, and Ningxia [49]. - The company is optimizing operational efficiency across the entire industry chain to promote higher quality development [133]. Employee and Management Structure - The company has a total workforce of 8,274 employees, with 3,882 in production, 2,732 in sales, 804 in technology, 322 in finance, and 534 in administration [188]. - The company has implemented a diversified compensation structure, including fixed salaries and performance-based incentives, to align employee performance with business goals [189]. - The company has a strong leadership team with diverse backgrounds in finance, management, and operations, including professionals with advanced degrees from prestigious institutions [163]. Risk Management - The company acknowledges risks such as intensified market competition, product quality control, and potential natural disasters affecting operations [4]. - The company is exposed to risks from dairy cattle diseases and natural disasters, which could impact raw milk supply and product consumption; it has established management systems to mitigate these risks [56]. - The company has a robust environmental management system in place to comply with regulations and minimize pollution, ensuring sustainable operations [52].