Core Viewpoint - Jiangyin Jujiak Recycling Energy Co., Ltd. has been established with a registered capital of 1.8 million RMB, focusing on various recycling and renewable energy services [1] Company Summary - The company is legally represented by Lu Chunwei [1] - The registered capital is 1.8 million RMB [1] - The business scope includes general projects such as recycling of renewable resources (excluding production waste metals), wastewater treatment and reuse, sales of renewable resources, and processing of renewable resources [1] - Additional services include sales of metal materials, technical services, and development, as well as non-metal waste processing [1] - The company also focuses on the recovery and secondary use of waste power batteries from new energy vehicles, excluding hazardous waste operations [1] - Other areas of operation include sales of solar thermal utilization products and equipment, sales of photovoltaic devices and components, and energy storage technology services [1]

Group 1: Financial Performance - In 2024, the company achieved a revenue of CNY 6.611 billion, a year-on-year increase of 1.36% [1] - Main business revenue reached CNY 6.390 billion, up 2.39%, accounting for 96.66% of total revenue [2] - Net profit was CNY 1.229 billion, an increase of 4.16% year-on-year [2] - Total assets amounted to CNY 30.708 billion, up 5.42% year-on-year, with a debt-to-asset ratio of 68.88%, down 2 percentage points [2] Group 2: Strategic Goals and Initiatives - The company aims to become an internationally renowned environmental technology group, focusing on "优新提存" to optimize its environmental industry layout [2] - Emphasis on "三基一稳一突破" to strengthen foundational work and promote innovative breakthroughs [2] - Plans to enhance core capabilities in technology innovation, digital intelligence, and capital operations [2] Group 3: Business Growth and Development - In Q1 2025, total profit reached CNY 0.379 billion, a year-on-year increase of 21.16% [3] - Revenue for Q1 2025 was CNY 1.536 billion, up 13.19% year-on-year, with a gross margin of 39.57% [3] - The company is focusing on solid waste management, water treatment, and environmental sanitation as key growth areas [8][19] Group 4: Asset Management and Financial Strategies - The company is enhancing stock asset management through improved production budget management and cost control [5][6] - Measures to recover accounts receivable include establishing a cloud platform and leveraging national debt relief policies [6][17] - The company aims to lower its debt costs and optimize its financial structure through diversified financing strategies [6] Group 5: Market Expansion and Innovation - The company is actively pursuing integration in the water supply and drainage sector, with successful pilot projects in Xinyang [8][19] - Plans to develop a recycling platform and enhance resource recovery through smart logistics and detailed sorting [10][19] - The acquisition of Aolande is expected to strengthen market presence and operational capabilities in the sanitation sector [15][16] Group 6: Future Business Layout - The company plans to expand its core solid waste business and develop growth areas such as water services and overseas markets [19] - Focus on nurturing exploratory businesses in environmental equipment manufacturing and carbon trading [19] - Continuous optimization of existing business layout to enhance overall operational efficiency [19]

Core Viewpoint - The company, Guangdong Feinan Resource Utilization Co., Ltd., focuses on hazardous waste disposal and resource recovery, reporting a significant increase in its hazardous waste processing capacity and a diverse range of resource products despite a decline in net profit due to market fluctuations and increased operational costs [5][9][14]. Company Overview - The company primarily engages in the disposal of hazardous waste and the recycling of non-ferrous metals, utilizing advanced technology to enhance efficiency and reduce costs [5][6]. - As of the end of the reporting period, the company holds hazardous waste operating qualifications totaling 121.06 million tons per year, with significant expansions in processing capabilities in Guangdong and Guangxi provinces [5][15]. Business Operations - The company has maintained stable operations across its facilities in Guangdong and Jiangxi, with new projects enhancing its capacity to process various metals, including copper, nickel, zinc, and precious metals [6][7]. - In 2023, the company expanded its product offerings to include nickel powder, zinc ingots, and other refined metals, creating a comprehensive recycling loop [6][16]. Financial Performance - The company reported a revenue of approximately 12.57 billion yuan, with a net profit of about 128.39 million yuan, reflecting a year-on-year decline of 28.69% primarily due to significant losses in hedging activities [9][17]. - The adjusted net profit, excluding non-recurring items, showed a substantial increase of 94.58%, indicating strong operational performance despite external challenges [9][17]. Market Position and Competitive Advantage - The company has established a robust network for hazardous waste collection, particularly in regions with high industrial activity, positioning itself as a leader in the hazardous waste disposal sector in Guangdong [10][14]. - The company’s ability to adapt to stringent environmental regulations and its extensive experience in the industry contribute to its competitive edge [14][15]. Future Development Plans - The company is advancing several new projects, including the resource recovery of industrial waste salts and the dismantling of electronic waste, which are expected to enhance its operational capabilities and market reach [7][19]. - The company plans to continue expanding its hazardous waste processing qualifications and product offerings to meet growing market demands [15][19].

股票简称：飞南资源 股票代码：301500 首次公开发行股票并在创业板上市 之 上市公告书 保荐人（联席主承销商） 长沙市天心区湘府中路198号新南城商务中心A栋11楼 联席主承销商 中国（上海）自由贸易试验区商城路618号 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） 二〇二三年九月 广东飞南资源利用股份有限公司 上市公告书 特别提示 广东飞南资源利用股份有限公司（以下简称 "飞南资源"、"发行人"、 "公司"或"本公司"）股票将于 2023 年 9 月 21 日在深圳证券交易所创业板 上市，该市场具有较高的投资风险。 创业板公司具有业绩不稳定、经营风险高、退市风险大等特点，投资者面 临较大的市场风险。本公司提醒投资者应充分了解股票市场风险以及本公司披 露的风险因素，在新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投 资。 如无特别说明，本上市公告书中的简称或名词的释义与《广东飞南资源利 用股份有限公司首次公开发行股票并在创业板上市招股说明书》（以下简称"招 股说明书"）中的相同。本上市公告书中的报 ...

创业板投资风险提示：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 保荐人（联席主承销商） （长沙市天心区湘府中路 198 号新南城商务中心 A 栋 11 楼） 联席主承销商 （中国（上海）自由贸易试验区商城路 618 号） 广东飞南资源利用股份有限公司 招股说明书 | 发行股票类型 | 人民币普通股（A 股） | | | | --- | --- | --- | --- | | 发行股数 | 本次发行数量 4,001 数的 | | 万股，占本次发行后公司股份总 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 1.0 ...

创业板投资风险提示：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 招股意向书 保荐人（联席主承销商） （长沙市天心区湘府中路 198 号新南城商务中心 A 栋 11 楼） 联席主承销商 （中国（上海）自由贸易试验区商城路 618 号） 广东飞南资源利用股份有限公司 招股意向书 | 发行股票类型 | 人民币普通股（A 股） | | | --- | --- | --- | | 发行股数 | 本次发行数量 4,001 数的 | 万股，占本次发行后公司股份总 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 元 1.00 | | | 每股 ...

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。 （长沙市天心区湘府中路 198 号新南城商务中心 A 栋 11 楼） 广东飞南资源利用股份有限公司 招股说明书 | 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， ...

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。 （长沙市天心区湘府中路 198 号新南城商务中心 A 栋 11 楼） 广东飞南资源利用股份有限公司 招股说明书 | 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 ...

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 （注册稿） 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（注册稿）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。 （长沙市天心区湘府中路 198 号新南城商务中心 A 栋 11 楼） 广东飞南资源利用股份有限公司 招股说明书 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） 素，审慎作出投资决定。 首次公开发行股票并在创业板上市 招股说明书 | 发行股票类型 | 人民币普通股（A 股） | | --- | --- | | 发行股数 | 本次发行数量不超过 4,000 万股，且不低于本次发行 后公司股份总数的 10%，全部为公开发行新股，不安 ...