企业名称潍坊市白浪河资源循环科技有限公司法定代表人于立成注册资本10000万人民币国标行业水 利、环境和公共设施管理业>生态保护和环境治理业>环境治理业地址山东潍坊经济开发区月河路3177 号潍坊经济开发区高新技术产业园国家级孵化器1511-1房间（一址多照）企业类型有限责任公司（非自 然人投资或控股的法人独资）营业期限2025-4-28至无固定期限登记机关山东潍坊经济开发区市场监督 管理局 来源：金融界 序号股东名称持股比例1潍坊市国经产业发展集团有限公司100% 经营范围含固体废物治理；再生资源回收（除生产性废旧金属）；生产性废旧金属回收；再生资源销 售；再生资源加工；非金属废料和碎屑加工处理；新能源汽车废旧动力蓄电池回收及梯次利用（不含危 险废物经营）；蓄电池租赁；电池销售；水资源管理；土壤污染治理与修复服务；劳动保护用品生产； 劳动保护用品销售；生物质燃料加工；新兴能源技术研发；合同能源管理；温室气体排放控制技术研 发；人工智能行业应用系统集成服务；互联网销售（除销售需要许可的商品）；普通货物仓储服务（不 含危险化学品等需许可审批的项目）；创业空间服务；技术服务、技术开发、技术咨询、技术交流、技 术转 ...

Core Viewpoint - The launch of the Shanxi Datong 10 million-ton coal gangue comprehensive utilization project marks a significant step towards resource recycling and sustainable urban development, addressing environmental issues caused by coal gangue accumulation [1][2] Group 1: Project Overview - The project is the first of its kind in China, focusing on the comprehensive utilization of coal gangue, which has accumulated over 7 billion tons in the country, with an annual increase of 500 million tons and a utilization rate of less than 60% [1] - The project aims to transform traditional disposal methods and provide a replicable model for coal gangue management across the country [1] Group 2: Technological Innovations - The project features six innovative technologies, including the first application of belt roasting technology from the steel industry for large-scale production of ceramsite, significantly enhancing production efficiency [2] - AI-based optical sorting technology allows for precise separation of coal gangue components in milliseconds, far surpassing traditional manual sorting methods [2] - The project introduces a world-first "X-ray + electromagnetic wave" technology to effectively remove iron from kaolinite minerals, improving product purity [2] Group 3: Environmental and Economic Impact - The project promotes a complete resource recycling chain from industrial solid waste to new materials and green buildings, contributing to the achievement of carbon neutrality goals [2] - The seven types of products generated from the project span multiple industries, including construction, chemicals, and pharmaceuticals, facilitating the transition to greener and higher-value industries [2]

Group 1 - LG Energy Solution has decided to postpone or cancel the construction of a lithium battery recycling joint venture with Huayou Cobalt due to stagnation in electric vehicle demand [1] - The joint venture was initially planned to build pre-treatment and post-treatment plants in Jiangsu and Zhejiang, with operations expected to start in late 2023 and production by the end of 2024 [1] - The project aims to create a closed-loop system for recycling metals like nickel, cobalt, and lithium from used batteries, but is hindered by slowing global electric vehicle demand and uncertainties in U.S.-China policies [1] Group 2 - In 2024, Huayou Cobalt's net profit is expected to grow by 23.99% to 4.155 billion yuan, while operating revenue is projected to decline by 8.08% to 60.946 billion yuan, indicating structural contradictions in its core business [2] - The company faces significant debt pressure with total interest-bearing liabilities around 59 billion yuan, despite a notable year-on-year increase in net profit for Q1 2025 [2] - The decline in cobalt prices by over 20% in 2024, along with reduced production of low-end products, has led to a decrease in gross margins for lithium battery materials [2] Group 3 - Cobalt prices have dropped to a ten-year low, and nickel prices are under pressure due to increased production capacity in Indonesia, raising concerns about inventory depreciation risks [3] - The market share of Huayou Cobalt in the ternary materials segment is shrinking, and the postponement of the joint venture project exacerbates the risk of a single profit structure [3] - The company needs to balance global expansion in Europe and Southeast Asia, explore new markets in sodium-ion and solid-state batteries, and optimize its debt structure to mitigate multiple risks [3]

Core Viewpoint - The establishment of Juhai Cangtian (Hebei) Landscape Greening Co., Ltd. indicates a growing focus on environmental management and sustainable practices in the landscaping and agricultural sectors in China [1] Company Summary - Juhai Cangtian (Hebei) Landscape Greening Co., Ltd. was recently founded with a registered capital of 4 million RMB [1] - The legal representative of the company is Chen Wenli [1] - The company is jointly owned by two shareholders: - Liangcang Yiyuan Agricultural Cultural Tourism (Hebei) Co., Ltd. holds a 70% stake - Beijing Lvhai Tianceng Landscape Greening Co., Ltd. holds a 30% stake [1] Business Scope - The company’s business activities include: - Landscape greening engineering construction - Engineering management services - Research and development in agricultural waste resource utilization technology - Renewable resource utilization technology development - Energy management services including solar and wind power technology services - Soil pollution prevention and remediation services - Carbon reduction, conversion, capture, and storage technology research [1] - The company is classified under the national standard industry of water, environment, and public facility management, specifically in municipal facility management [1] Operational Details - The company is located in Langfang City, Hebei Province, with a business term set until April 27, 2025, and no fixed duration thereafter [1] - The registration authority is the Langfang City Wen'an Market Supervision Administration [1]

Core Viewpoint - The establishment of China Resource Recycling Group Nonferrous Metal Investment Co., Ltd. in Hangzhou marks a significant step in the development of nonferrous metal recycling and utilization, enhancing the resource recycling industry layout in China [1][2] Group 1: Company Establishment and Objectives - The new company aims to ensure the safety and stability of the national nonferrous metal strategic resource industry chain and supply chain, aligning with national policies [1] - The company will integrate with Zhejiang's green and innovative development advantages to enhance the scale and efficiency of recycled nonferrous resource recovery [1] - The company is set to create a national-level platform for recycled metal circular utilization, supporting the integrated development of the Yangtze River Delta [1] Group 2: Business Model and Strategy - The company is constructing a "1+2+N+X" collaborative business system for nonferrous metal recycling and utilization, focusing on technological innovation and digital transformation [1] - The foundational business will be based on copper and aluminum, while also exploring new avenues in precious metals and strategic metal reserves [1] - The company aims to establish a nationwide resource-intensive layout and regional synergy advantages through a collaborative network [1] Group 3: Innovation and Industry Transformation - The company will take on the primary responsibility for integrating the national nonferrous metal resource recycling industry, promoting technological, management, and business model innovations [2] - The focus will be on enhancing core competitiveness and streamlining the entire nonferrous metal industry chain towards high-end, intelligent, and green development [2] - The company plans to build a circular economy model that addresses resource shortages and industry fragmentation in China's nonferrous metal sector, aspiring to become a leading domestic and internationally recognized enterprise in nonferrous metal recycling [2]

N- 甲基吡咯烷酮（ NMP ）是一种具有高极性、高沸点、低粘度、低挥发性、高热稳定性和化学稳定性的非质子溶剂。作为高性能溶剂，其广 泛应用于锂离子电池制造、化工生产等多个领域。 NMP 原料来源可分为合成 NMP 与再生 NMP 两类。合成 NMP 指通过化学合成工艺制得的 NMP 产品，其工业生产路线以γ - 丁内酯（ GBL ）与 单甲基胺为原料经缩合反应生成。再生 NMP 则指对使用后的 NMP 废液进行回收提纯 NMP 废液特性： 高浓度 NMP ：废液中 NMP 含量较高，因 NMP 强溶解性可能混合多种有机物及无机物 低毒性但具刺激性：虽较其他有机溶剂毒性低，但高浓度接触仍对人体皮肤及眼睛产生刺激 处理难度大：因高沸点与强溶解性，单纯物理蒸发或自然挥发难以处理，需采用特定回收净化技术 委托加工模式：回收企业为客户提供闭环循环服务，直接回收客户废液并提纯后返还。该模式可降低客户处理成本，实现资源循环利用 购销模式：回收企业采购上游供应商的 NMP 废液，经处理提纯后销售给下游客户，通过购销差价盈利 内部循环模式：大型企业集团自建回收处理设施，实现废液中 NMP 的内部循环利用。例如三菱重工在国内外 ...

Core Insights - The fluorosilicone chemical industry has high technical barriers and is a key pillar in the new materials sector, crucial for China's chemical high-end development [1] Group 1: Industry Overview - The report by CCID Consulting highlights the significant trend of cluster development in China's fluorosilicone industry, establishing a solid foundation for high-end development [1] - The industry is characterized by three major clusters: the Yangtze River Delta, the Central and Western regions, and the Bohai Rim, each with distinct features [2] Group 2: Regional Characteristics - The Yangtze River Delta focuses on high-end fluoropolymers and electronic-grade chemicals, leveraging academic resources and integrated industrial chains for innovation [2] - The Central and Western regions capitalize on resource abundance and green energy, aiming to develop basic fluorosilicone raw materials and downstream processing [2] - The Bohai Rim region, centered around leading enterprises, has established a complete vertical industrial chain from resource extraction to end-product manufacturing [2] Group 3: Industry Chain and Development - The fluorosilicone industry has a well-established vertical layout, with most parks relying on upstream resources to ensure supply chain security [3] - The industry is increasingly focusing on high-growth areas such as lithium batteries and photovoltaics, while organic silicon parks are exploring silicon-based semiconductor materials [3] - There is a noted trend of product direction homogeneity within the industry, with a concentration on new energy materials and high-end silicone products [3] Group 4: Resource Recycling and Environmental Considerations - Fluorosilicone parks emphasize resource recycling, with many establishing circular industrial chains that utilize by-products effectively [4] - Investments in waste management have significantly increased within the industry, reflecting a commitment to environmental sustainability [4] Group 5: Challenges and Recommendations - The fluorosilicone industry faces challenges such as intense competition in the mid-to-low-end market and insufficient high-end capacity [5][6] - The average R&D expenditure for fluorosilicone companies is between 3% and 5%, primarily focused on process optimization, leading to issues of redundant construction and intensified market competition [5][6] - There is a pressing need for the establishment of public testing platforms to support certification processes for high-tech products, which currently take 3 to 5 years [6]

i 本次股票发行后拟在创业板市场上市，该市场具有较高的投资风险。创业板 公司具有创新投入大、新旧产业融合成功与否存在不确定性、尚处于成长期、 经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的市场风险。 投资者应充分了解创业板市场的投资风险及本公司所披露的风险因素，审慎 作出投资决定。 广东飞南资源利用股份有限公司 Guangdong Feinan Resources Recycling Co., Ltd （四会市罗源镇罗源工业园） 首次公开发行股票并在创业板上市 招股说明书 （申报稿） 保荐机构（主承销商） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招 股说明书（申报稿）不具有据以发行股票的法律效力，仅供预先披露之用。 投资者应当以正式公告的招股说明书作为投资决定的依据。 | 发行股票类型 | 人民币普通股（A 股） | | --- | --- | | | 本次发行数量 万股，占本次发行后公司股份总 4,001 | | 发行股数 | 数的 10%以上，全部为公开发行新股，不安排公司老 | | | 股东公开发售股份 | | 每股面值 | 人民币 1.00 元 | | 每股发行价格 ...

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不确 定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的 市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因素，审慎作出投 资决定。 安徽森泰木塑集团股份有限公司 ANHUI SENTAI WPC GROUP SHARE CO.,LTD. （安徽省宣城市广德经济开发区国华路） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） 中国（上海）自由贸易试验区浦明路 8 号 安徽森泰木塑集团股份有限公司 招股说明书 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 ...

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不确 定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的 市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因素，审慎作出投 资决定。 安徽森泰木塑集团股份有限公司 ANHUI SENTAI WPC GROUP SHARE CO.,LTD. （安徽省宣城市广德经济开发区国华路） 首次公开发行股票并在创业板上市 招股意向书 保荐人（主承销商） 中国（上海）自由贸易试验区浦明路 8 号 安徽森泰木塑集团股份有限公司 招股意向书 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 ...