Niutech(SH:688309) Zhong Guo Zheng Quan Bao·2025-08-26 20:17Core Viewpoint - Hengyu Environmental reported significant growth in revenue and profitability in the first half of 2025, driven by its dual strategy of "equipment sales + project operation" [1][3] Group 1: Financial Performance - The company achieved operating revenue of 1.25 billion yuan, representing a year-on-year increase of 268.05% [1] - The net profit attributable to shareholders reached 8.40 million yuan, marking a turnaround from losses [1] - Revenue from operational business reached 0.45 billion yuan, accounting for 36.27% of total revenue, highlighting its role as a key growth driver [1] Group 2: Market Expansion - Hengyu Environmental is a technology innovation-driven company with proprietary technology in thermal cracking, focusing on the harmless, reduced, and resourceful disposal of organic waste [2] - The company has signed a sales contract with a UK client for a 60,000 tons/year industrial continuous waste plastic thermal cracking production line, valued at approximately 198 million yuan [2] - The contract is expected to positively impact the company's performance in 2025-2026 and reflects the growing market potential in the European chemical recycling industry [2] Group 3: Strategic Development - The company is enhancing operational stability, sustainability, and diversification by focusing on project operation alongside its core thermal cracking technology [3] - As of mid-2025, the company has successfully launched the Enshi oil-based rock BOO project and is progressing with the Zhejiang paint sludge BOO project [3] - Hengyu Environmental aims to integrate its technological and operational capabilities to improve the overall efficiency of the thermal cracking industry chain [3] Group 4: Technological Innovation - Continuous research and innovation are crucial for maintaining a competitive edge in the thermal cracking equipment sector [4] - The company has resolved several industry challenges and achieved stable industrial continuous operation of thermal cracking equipment [4] - As of the reporting period, the company has 116 domestic and international patents in the thermal cracking field, enhancing its core competitiveness [4] Group 5: Future Development Strategy - Hengyu Environmental plans to expand the application of thermal cracking technology and focus on green low-carbon project development [5] - The company aims to innovate in technology and products, enhancing the technological content of its offerings [5] - The strategy includes providing effective solutions for the harmless, reduced, and resourceful treatment of organic solid and hazardous waste [5]