关于变更部分可转债募集资金投资项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 原项目名称：生物质锅炉项目 ? 新项目名称及投资金额：热电联产节能降碳智能化改造项目，投资总额 预计约为 17,783 万元。 ? 变更后募集资金投向的金额：本次拟将"生物质锅炉项目"所使用的募 集资金变更至"热电联产节能降碳智能化改造项目"使用，涉及变更的募集资金 总额为 9,568.30 万元，占"荣 23 转债"募集资金总额的 16.61%。 证券代码：603165 证券简称：荣晟环保 公告编号：2025-046 债券代码：113676 债券简称：荣 23 转债 浙江荣晟环保纸业股份有限公司 ? 新项目达到预定可使用状态时间：2026 年 7 月。 ? 本事项尚需提交公司股东大会和债券持有人会议审议。 一、本次拟变更募集投资项目的概述 （一）募集资金的基本情况 根据中国证券监督管理委员会《关于同意浙江荣晟环保纸业股份有限公司向 不特定对象发行可转换公司债券注册的批复》（证监许可〔2023〕1376 号）， 公司向 ...

以"走向碳中和之路"为主题的2025上海国际碳中和技术、产品与成果博览会（简称"碳博会"）于6月5日 至7日在上海新国际博览中心举办，来自15个国家和地区的逾300家企业参展。 上海市委副书记、市长龚正在开幕式致辞中表示，绿色转型是应对气候变化的必由之路，也是经济社会 发展的新引擎。从政府层面，期待通过上海国际碳中和博览会，推动更多绿色低碳技术产品和业务服务 的交流合作，共建清洁、美丽、可持续的世界。 南都记者了解到，上海市杨浦区正加速发展绿色低碳产业，预计2030年绿色低碳产业规模达到500亿元 左右。6月5日下午，由上海市杨浦区人民政府指导、上海技术交易所主办的双碳科技与循环经济协同创 新活动在碳博会举办.。 兴业银行首席经济学家鲁政委出席活动，并以《碳足迹壁垒：欧盟之盾与中国之矛》为题，剖析了欧盟 碳边境调整机制对全球供应链的影响，提出中国企业需以技术创新和标准升级应对"碳足迹壁垒"，锻造 国际竞争新优势。 此外，由上海质量管理科学研究院、山鹰国际等单位编制的《循环利用产品降碳评定与标识应用要求》 在会上正式发布，通过量化降碳量、划分等级，填补了国内循环产品降碳标准空白，为市场推广提供统 一规范。 活动 ...

Core Viewpoint - The DaaS (Device as a Service) industry in China is focusing on sustainable development through technological innovation, emphasizing the importance of a circular economy and low-carbon practices in the context of the "dual carbon" goals set by the government [1][2] Group 1: Event Overview - The first DaaS industry forum in China was held on June 5, focusing on "Full Green Commitment - Empowering Sustainable Development through Technological Innovation" [1] - The forum was co-hosted by Lingxiong Technology Group, the China Small and Medium Enterprises Association DaaS Service Professional Committee, and other organizations [1] Group 2: Industry Insights - The DaaS model inherently supports the concept of a circular economy by managing the entire lifecycle of equipment, utilizing remanufacturing technology, and promoting digital operations to reduce waste [1] - Lingxiong Technology is highlighted as a practitioner in the DaaS industry, contributing to sustainable development through the circular use of devices and low-carbon innovations [1] Group 3: Challenges and Opportunities - The current transition period for circular economy development in China is critical, with many enterprises shifting green development from an option to a necessity [2] - Continuous efforts in technological innovation, standard establishment, and business model development are essential for achieving high-quality growth in the industry [2] - The need for collective action across society is emphasized, indicating that green development requires collaboration rather than isolated efforts [2]

Industry Overview - The production capacity of crude glycerol in China is projected to reach 1.088 million tons in 2024, with an output of 422,500 tons, and is expected to exceed 1.1 million tons by the end of 2025, with output potentially surpassing 500,000 tons, indicating strong market vitality and growth potential [3][5] - The market size for crude glycerol in China reached 4.79 billion RMB in 2024, and is anticipated to rise to 7.286 billion RMB in 2025, driven by rapid expansion in downstream applications such as pharmaceuticals, cosmetics, food, and new energy [3][5] Supply Chain Analysis - The upstream supply of crude glycerol relies on natural oils (such as palm oil, soybean oil, and waste oils) and the biodiesel production process, which generates crude glycerol through complex chemical reactions [5] - The refining of crude glycerol allows its application in various sectors, including epoxy chloropropane, surfactants, pharmaceuticals, and cosmetics, with the demand for biodiesel and its byproduct, crude glycerol, increasing due to technological advancements and market demand [5] Market Competition and Trends - The current market competition in China's crude glycerol industry is characterized by "low concentration and high dispersion," with foreign giants dominating the high-end market while domestic companies focus on the mid-to-low end, facing intense price competition [6] - Future development will emphasize innovations in purification technology, the development of high-value-added products, and sustainable production models to meet the growing global demand for green chemicals [6] - The industry is seen as a crucial link between bioenergy and the chemical industry, with significant growth prospects, urging companies and investors to pay close attention to policy directions, market demand changes, and technological innovations [6] Market Environment Analysis - The crude glycerol industry is influenced by various policies and economic conditions, with a focus on the macroeconomic environment and specific industry policies that guide its development [8] - The demand characteristics and trends within the industry indicate a growing need for crude glycerol, driven by its applications across multiple sectors [9] Future Outlook - The crude glycerol market is expected to continue its growth trajectory from 2025 to 2031, with predictions of increased market size and demand, alongside a focus on sustainable practices and technological advancements [15][16]

5月的北海铁山港，海风轻拂海岸线。远处，装载着铝土矿的货轮缓缓靠岸；近处，智慧电厂将煤 炭转化为清洁热能，为铝产业输送动能。 这里是广西投资集团北海临港循环经济产业园——首个由广西本土企业自主投资、建设、运营的临 港型铝产业链集群，正以创新驱动书写传统产业转型升级与循环经济发展的新答卷。 从"能源短缺"到"绿色枢纽" 海洋是高质量发展的战略要地，向海方可图强，开放才有发展。 临港产业壮大，则向海经济繁荣。广投集团锚定深化供给侧结构性改革目标，以广投北海电厂为能 源协同基础核心，以海外铝土矿资源为供应链抓手，以绿色生态铝项目为产业支点，串联港口物流优 势，以产融投协同发展综合施策，全力打造"前港后厂""港产城一体化"的临港循环经济产业园。 5月25日，临港循环经济产业园内，广投临港工业公司20万吨散货码头试运行。后续装载几内亚铝 土矿的货轮抵岸后，铝土矿将通过传送栈道，直抵近在300米外的氧化铝工厂，实现"矿—港—厂"全程 无缝衔接。氧化铝工厂生产所需热能，均来自园内先期建设的广投北海电厂。 "过去北海缺电少煤，现在我们建成了北海清洁能源枢纽。"广投北海电厂主任工程师罗世斌见证了 电厂蝶变。上世纪90年代，在沿 ...

Core Insights - The event "Yangpu New Algorithm, Technology Recycling" focused on the synergy between dual carbon technology and circular economy, aiming to create a new blueprint for green development [1][5] - Yangpu District aims to achieve a green low-carbon industry scale of approximately 50 billion yuan by 2030, marking a significant transformation from an industrial to an innovative economy [1][2] - The establishment of the "Yangpu Green Low-Carbon Industry Innovation Cultivation Platform" aims to promote the deep integration of green low-carbon technology and industry [3] Group 1: Event Overview - The event was guided by the Yangpu District People's Government and hosted by the Shanghai Technology Exchange, with over 200 representatives from various sectors participating [1] - Keynote speeches included topics on carbon footprint barriers and the role of local governments in driving green transformation [2][3] Group 2: Strategic Initiatives - The "Yangpu District Action Plan for Accelerating Green Low-Carbon Transformation (2025-2030)" was officially released, outlining a roadmap for the next five years [3] - A partnership was formed between Yangpu District and Shaxian District in Fujian to leverage ecological resources and technological innovation for dual carbon cooperation [2] Group 3: Technological Innovations - The launch of the "Green Technology Patent Pool" aims to provide a one-stop service for technology commercialization, reducing the marketization cycle [3] - The introduction of the carbon footprint AI management platform by Envision Group aims to enhance intelligent management of energy and carbon data [3] Group 4: Standards and Guidelines - The release of the "Requirements for Carbon Reduction Assessment and Labeling of Recycled Products" fills a gap in domestic standards for recycled products, providing a unified norm for market promotion [4] Group 5: Collaborative Efforts - A roundtable discussion emphasized the need for policy guidance, technological breakthroughs, and market mechanism innovations to drive the scale development of the circular economy [5] - The event concluded with a consensus on the importance of technological innovation in achieving carbon peak and carbon neutrality goals [5]

Investment Rating - The industry investment rating is "Overweight" [2] Core Insights - The report highlights the ongoing active research in life sciences and the global wave of biotechnology revolution, which is accelerating integration into economic and social development, providing new solutions to major challenges such as health, climate change, resource security, and food security. The National Development and Reform Commission has issued the "14th Five-Year Plan for Bioeconomic Development," indicating a trillion-yuan market potential in the bioeconomy [5][12]. Summary by Sections 1. Industry Market Performance - The synthetic biology sector saw an increase of 1.13% in the week of May 26 to May 30, 2025, outperforming the Shanghai Composite Index by 1.16% and the ChiNext Index by 2.53% [6][20]. 2. Company Business Progress - Shanghai Puranwei and the Shanghai Academy of Agricultural Sciences signed a strategic cooperation agreement to develop mycelium leather technology, aiming to create a new type of biological material to replace traditional leather [26]. - Angel Yeast announced a 230 million yuan investment in a project focused on serum-free cell culture medium technology, marking its entry into the synthetic biology sector [26]. - Xiangsheng Technology unveiled its Shanghai product headquarters, focusing on the large-scale application of bio-based materials like FDCA and PEF [27]. 3. Industry Financing Tracking - The report notes an acceleration in financing for synthetic biology companies, with nearly a hundred companies completing new financing rounds since the beginning of 2025 [37]. - Haobo Pharmaceutical completed a $50 million B+ round of financing to advance its antisense oligonucleotide drug AHB-137 for chronic hepatitis B [37]. - Swiss biotechnology company GlycoEra raised $130 million in a B round to develop its IgG4-targeting protein degradation agents [37].

Core Viewpoint - The European Commission's Spring Economic Outlook for 2025 has downgraded growth forecasts for the EU and Eurozone due to global trade uncertainties, U.S. tariff policies, and geopolitical risks, projecting EU GDP growth at 1.1% and Eurozone growth at 0.9% for 2025 [1][2] Economic Growth Projections - The EU's GDP growth forecast for 2025 has been revised down from 1.5% to 1.1%, while the Eurozone's growth forecast has been reduced from 1.3% to 0.9% [1] - The growth outlook for 2026 is also pessimistic, with projections of 1.5% for the EU and 1.4% for the Eurozone [1] Structural Economic Issues - Germany, as the Eurozone's economic engine, is experiencing stagnation with a projected growth rate of 0% for this year, impacting the entire Eurozone [2] - Other major economies within the Eurozone are also facing low growth expectations, with France at 0.6%, Italy at 0.7%, and Austria contracting by 0.3% [2] - In contrast, some EU member states like Malta (4.1%), Denmark (3.6%), and Ireland (3.4%) are showing stronger economic performance, highlighting regional disparities within the EU [2] Economic Policy Focus - The EU's economic policy for this year will focus on balancing monetary and fiscal policies, with the Eurozone's inflation rate expected to approach the European Central Bank's (ECB) target of 2% [3] - The ECB has implemented seven consecutive interest rate cuts to stimulate economic growth, with an anticipated further cut of 25 basis points in September [3] - Fiscal policy faces challenges due to strict limits set by the Stability and Growth Pact, particularly for countries like Italy and France with high deficits [3] Structural Challenges and Reforms - The EU aims to address structural challenges by enhancing competitiveness, particularly in light of Germany's manufacturing decline and high energy costs [4] - The EU's green and digital transitions require significant investment, but disparities in fiscal capacity and policy coordination among member states pose obstacles [4] - The European Commission has proposed a mid-term budget reform to focus resources on overcoming structural challenges and promoting sustainable development [4]

Core Viewpoint - CATL has maintained its leading position in the global power battery industry since 2017, with a projected market share of 37.9% in 2024, significantly ahead of competitors [1] Group 1: Market Position - CATL's power battery installation volume is expected to reach 339.3 GWh in 2024, reinforcing its dominance in the industry [1] - The company has a strong market influence due to its extensive customer base and global market expansion efforts [1] Group 2: Supply Chain Integration - CATL has established a comprehensive lithium battery supply chain through self-built, equity participation, and joint ventures, securing significant control over raw material supply [1] - The company actively invests in key mineral resources like lithium and collaborates with various enterprises to develop essential battery materials [1] - CATL's integrated park model promotes a circular economy, enhancing its resource recovery capabilities and competitive edge in the supply chain [1] Group 3: Research and Development - The company places a high emphasis on R&D, with a consistent investment rate of around 5%, amounting to 4.814 billion yuan in Q1 2025 [1] - Continuous R&D efforts have led to the launch of competitive products such as the Kirin battery and Tianheng energy storage system, which excel in performance, safety, and cost control [1] Group 4: Financial Projections - Revenue forecasts for CATL are 460.9 billion yuan, 570.9 billion yuan, and 676.9 billion yuan for 2025-2027, with corresponding net profits of 55.8 billion yuan, 73.1 billion yuan, and 87.3 billion yuan [1] - A DCF valuation model suggests a target price of 382 HKD for CATL [1]

Core Insights - The core viewpoint of the articles is that Hello has made significant strides in promoting sustainable development and green transportation through innovative strategies and partnerships, as highlighted in their 2024 ESG report [1][2]. Group 1: Sustainable Development Initiatives - Hello has committed to reducing carbon emissions in the transportation sector, achieving a cumulative reduction of 221,000 tons of carbon emissions from bike rides and 82,000 tons from e-bike rides by the end of 2024 [1]. - The company has also facilitated over 2.5 billion ride-sharing requests, promoting carpooling to minimize environmental impact [1]. - Hello's battery swapping service has contributed to a reduction of 65,000 tons of carbon emissions through 1.3 million battery swaps [1]. Group 2: User Engagement and Carbon Incentives - To encourage public participation in carbon reduction, Hello has launched a personal carbon credit system and the "Zero Carbon Riding Challenge," converting users' green actions into platform benefits [2]. - The company is developing a "carbon trading - user rewards" mechanism to incentivize users through discounts and benefits [2]. Group 3: Circular Economy and Resource Efficiency - Hello is promoting a circular economy by reusing materials from old vehicles and establishing a battery recycling system, having processed approximately 102,000 retired batteries during the reporting period [2]. - The company utilizes smart scheduling and demand management to meet travel needs with fewer vehicles, enhancing resource efficiency [2]. Group 4: Strategic Partnerships - In April, Hello formed strategic partnerships with Ant Group and CATL to advance green smart transportation, digital technology, and green investment initiatives [2].