清研环境营收大幅增长，撤销退市风险警示预期明朗

Group 1 - The core viewpoint of the article is that Qingyan Environment (stock code: 301288) has disclosed a stock trading risk warning announcement as part of routine procedural disclosure, with the 2025 annual report scheduled for release on April 21, 2026 [1] - The company anticipates a significant increase in revenue for 2025, projecting a net revenue of between 147 million yuan and 185 million yuan, representing a year-on-year growth of 108.99% to 163.02% [1] - The revenue growth is attributed to the company's expansion into solid waste and hazardous waste treatment through the acquisition of 51% of Fujian Tonghai Nickel Industry Technology Co., which is expected to generate revenue of approximately 74 million to 75 million yuan by the end of the reporting period [1] Group 2 - Tonghai Nickel Industry, a subsidiary acquired through judicial auction, specializes in the harmless treatment of industrial solid waste containing metals like nickel and chromium, and its profitability is influenced by the price fluctuations of these metals [2] - Recent announcements from Indonesia, a major supplier of nickel ore, regarding significant reductions in nickel ore production quotas have led to an increase in nickel prices, which may positively impact the profitability of Tonghai Nickel Industry [2] - The company has indicated that if the audited net revenue for 2025 is not less than 100 million yuan and other conditions are met, it may apply to lift the delisting risk warning, making the expectation for lifting the warning clearer based on the revenue forecast [2]