环保行业深度调整，清研环境以“共创思路”破局

Core Viewpoint - Qingyan Environment Technology Co., Ltd. is undergoing significant changes, including leadership adjustments and a strategic shift towards a diversified business model to address challenges in the environmental protection industry [2][4][6]. Leadership Changes - On December 30, 2025, the chairman and general manager Liu Shujie resigned from the general manager position, and Chen Jun was appointed as the new general manager, bringing a strong financial background and management experience [2]. - Liu Shujie will focus on the company's strategic planning and development direction, while Chen Jun is expected to enhance revenue, profit, and cash flow growth through refined management [2]. Strategic Initiatives - On December 22, 2025, the company announced a global agent recruitment plan, allowing agents with market resources to participate in the application of its biological wastewater treatment technology globally under a "light asset, zero risk" cooperation model [2][8]. - The "New Partner" strategy, launched at the end of 2024, aims to collaborate with excellent teams in niche fields to quickly enter new markets, reversing the performance decline caused by shrinking traditional municipal projects [3][8]. Industry Challenges - The company faces significant challenges due to external environmental changes, including a reduction in large municipal projects and longer payment cycles, leading to increased uncertainty in its traditional project-based model [4][5]. - The environmental protection industry has shifted from rapid growth to deep adjustment, with the company's revenue declining to below 100 million yuan in 2024, resulting in a risk warning for delisting [4][5]. Business Transformation - Starting in 2025, the company is moving away from reliance on a single municipal market to explore diversified scenarios and customer bases [6][7]. - The acquisition of a 51% stake in Tonghai Nickel Industry, a leading hazardous waste disposal company, exemplifies the company's strategy to enter the hazardous waste resource utilization sector [8]. Financial Performance - The company's third-quarter report for 2025 indicated a revenue of 101 million yuan, a year-on-year increase of 92.97%, while the net profit attributable to shareholders was -5.1752 million yuan, a 60.22% improvement [9]. Future Outlook - The company aims to enhance its operational management and optimize its business structure to promote growth and profitability, focusing on integrating technology innovation with market networks [10]. - Liu Shujie emphasizes the importance of delivering optimal technology and services to various environmental governance scenarios across different industries and regions [10].