1859年，美国宾夕法尼亚州油井的开采拉开了现代石油工业的序幕。 但随之而来的石化废料处理难题却困扰了人类百年之久， 而现在广东揭阳的一记"技术绝杀"震撼了世界。 全球首套连续化、规模化废塑料化学循环装置， 东粤化学20万吨/年混合废塑料资源化项目， 用"一步法"让低值废塑料涅槃重生！ 这不仅是中国石化的高光时刻， 更是从"依赖原油"到"循环造血"的革命性跨越。 不同于市场上通用的 "先热解制油、再加工成化工原料"的两步法流程， 该项工艺无需对各类低值混合废塑料进行复杂分选， 直接将废塑料变废为宝。 广东东粤化学科技有限公司董事长张新功： 它是把现在散落在各个角落里的废塑料，都能把它收上来以后我们直接把它变成新塑料。实现了塑料的重生，塑料到塑料的循环。 如今的揭阳，已锚定更高目标。 将沿海港口与产业集群牢牢绑定。 从揭阳的"循环破局"到外资巨头的"抢滩布局"， 广东正以"创新+开放"的双引擎， 推动全球石化重心加速东移。 3000亩绿色循环基地加速落地， 226亿元二期项目剑指300万吨产能， 未来每年将产出超200万吨绿色烯烃， 为大湾区家电、汽车产业注入绿色动能。 从无人敢碰的"白色垃圾"到撑起产业链的" ...

从无人敢碰的"白色垃圾"到撑起产业链的 "工业粮食"， 广东用三年工程一年干成的硬核速度， 打通了全球独一无二的废塑料高值化路径。 全球首套连续化、规模化废塑料化学循环装置， 东粤化学20万吨/年混合废塑料资源化项目， 用"一步法"让低值废塑料涅槃重生！ 这不仅是中国石化的高光时刻， 更是从"依赖原油"到"循环造血"的革命性跨越。 不同于市场上通用的 "先热解制油、再加工成化工原料"的两步法流程， 该项工艺无需对各类低值混合废塑料进行复杂分选， 直接将废塑料变废为宝。 广东东粤化学科技有限公司董事长 张新功： 它是把现在散落在各个角落里的废塑料，都能把它收上来以后我们直接把它变成新塑料。实现了塑料的重生，塑料到塑料的循环。 1859年，美国宾夕法尼亚州油井的开采拉开了现代石油工业的序幕。 但随之而来的石化废料处理难题却困扰了人类百年之久， 而现在广东揭阳的一记 "技术绝杀"震撼了世界。 如今的揭阳，已锚定更高目标。 3000亩绿色循环基地加速落地， 226亿元二期项目剑指300万吨产能， 未来每年将产出超200万吨绿色烯烃， 为大湾区家电、汽车产业注入绿色动能。 而在大湾区的石化版图上，精彩不止一处。 埃克森 ...

Core Insights - Jinan Hengyu Environmental Technology Co., Ltd. has achieved significant collaboration with an internationally renowned group in the field of chemical recycling of waste plastics, leading to the establishment of a high-end chemical recycling plant in Vietnam utilizing Hengyu's advanced technology [1][3] Group 1: Project Overview - The project utilizes industrial plastic waste as raw material, employing Hengyu's patented technology to convert waste plastics into high-quality pyrolysis oil, which is then processed in the client's chemical plant, creating a complete chemical recycling loop from "waste plastic to new plastic" [3][4] - The plant has been successfully operational for several months, with the pyrolysis product indicators meeting expectations, and expansion preparations are nearly complete [1][3] Group 2: Technological and Market Position - Hengyu's unique and validated pyrolysis technology has garnered international attention for providing an efficient and low-carbon solution for the resource utilization of low-value mixed waste plastics [4] - As a leader in the pyrolysis technology sector in China, Hengyu adheres to a high-end, intelligent, and green development strategy, addressing global market demands and overcoming significant challenges in the industrialization and scaling of chemical recycling [4] Group 3: Global Expansion and Recognition - Hengyu's technology has been applied across the country and in numerous countries worldwide, demonstrating its revolutionary approach to organic waste resource utilization through various domestic and international demonstration projects [4] - The advanced technology and equipment have shown exceptional safety, reliability, and environmental performance in actual operations, receiving high praise from clients and validating the strength of China's high-end environmental protection equipment [4]

Core Viewpoint - The article discusses the emerging opportunities in the chemical recycling industry, particularly focusing on the mixed plastic chemical recycling project by Rizhao Plastic Mao Environmental Technology Co., Ltd., which aims to convert waste plastics into valuable chemical products through advanced recycling technologies [2][3]. Project Overview - The mixed plastic chemical recycling (PCR) project by Rizhao Plastic Mao is a new initiative located in the Rizhao Haiyou Chemical Industrial Park, with a total investment of 680 million yuan [4]. - The first phase of the project includes a set of waste plastic chemical recycling (PCR) facilities, with a production capacity of 200,000 tons/year for the plastic oilification unit, 400,000 tons/year for the plastic oil olefination unit, and 200,000 tons/year for the olefin refining unit [4]. Technology and Processes - The company utilizes two core proprietary technologies: "Low-Temperature Low-Pressure Catalytic Cracking and Recombination (PTO)" and "High-Selectivity Catalytic Cracking Olefin Recombination (PTP)" [5]. - PTO technology converts waste plastics such as PP, PE, and PS into pyrolysis oil with a carbon-hydrogen utilization rate exceeding the industry average by 20%, allowing for higher pricing when sold to foreign chemical giants for recycling [6]. - PTP technology directly produces core components of new plastics like ethylene, propylene, and BTX with a carbon-hydrogen conversion efficiency that is 15%-20% higher, enabling a closed-loop process within a single facility without relying on petrochemical refining [7]. Strategic Path and Industry Layout - The company focuses on "technology output + joint venture construction" as its core strategy to expand the chemical recycling industry, establishing a collaborative matrix both domestically and internationally [10]. - The first chemical recycling technology licensing project in China has been implemented, providing technical support to a NASDAQ-listed petrochemical company in the U.S., with a 40,000 tons/year waste plastic oil production project underway in Weifang, expected to produce 30,000 tons of pyrolysis oil annually [10]. - Collaborations with state-owned enterprises like China Chemical aim to develop cutting-edge technologies and create a global plastic resource recycling supply chain, while also supporting brand companies in their ESG transformations [10].

Core Viewpoint - Hengyu Environmental has signed a significant sales contract with a UK client for a 60,000 tons/year industrial continuous waste plastic pyrolysis production line, amounting to approximately 198 million RMB, which is expected to positively impact the company's performance in 2025-2026 [1] Group 1 - The contract will enhance Hengyu Environmental's capabilities in waste plastic pyrolysis technology output and equipment sales in the European and American markets, solidifying its leading position in the pyrolysis technology equipment market [1] - The company has received the first payment from the client, indicating a strong start to the contract execution [1] - The client chose Hengyu Environmental after evaluating various projects, including those backed by BASF, highlighting the advanced, mature, and stable nature of Hengyu's technology and equipment [1] Group 2 - Hengyu Environmental has established a strong presence in the European market, evidenced by a previous contract with Norway's Quantafuel for four waste plastic pyrolysis production lines for a project in Denmark, which received BASF's investment and recognition [2] - A recent project in Southeast Asia, backed by South Korea's Hyundai Group, successfully utilizes Hengyu's waste plastic pyrolysis technology, contributing to carbon reduction efforts by supplying pyrolysis oil as raw material for the group's chemical plant [2] - These projects demonstrate Hengyu Environmental's robust competitiveness in the international market and reinforce its leading position in the domestic and international waste plastic chemical recycling sector [2]

Core Viewpoint - Hengyu Environmental Protection has signed a significant sales contract with a UK client for a 60,000 tons/year industrial continuous waste plastic pyrolysis production line, amounting to approximately 198 million RMB, which is expected to positively impact the company's performance in 2025-2026 [1][2] Group 1 - The contract will enhance Hengyu's capabilities in waste plastic pyrolysis technology output and equipment sales in the European and American markets, solidifying its leading position in the pyrolysis technology equipment market [1][2] - The company has received the first payment from the client, indicating a strong start to the contract execution [1] - Hengyu's reputation is bolstered by its successful projects, including a previous contract with Norway's Quantafuel for waste plastic pyrolysis lines, which received investment and recognition from BASF [2] Group 2 - The recent project in Southeast Asia, backed by South Korea's Hyundai Group, successfully utilizes Hengyu's waste plastic pyrolysis technology, contributing to carbon reduction efforts [2] - Hengyu's strong competitive edge in the international market is demonstrated through its advanced technology and equipment, which have been recognized by various clients [2] - The company's ongoing projects and contracts reflect its commitment to the development of the waste plastic chemical recycling sector, enhancing its core competitiveness and sustainable profitability [1][2]

Core Viewpoint - The annual report of Jinan Hengyu Environmental Technology Co., Ltd. for 2024 highlights a decline in revenue and net profit, while emphasizing the company's focus on organic waste resource utilization and technological innovation in the pyrolysis sector [1][3]. Financial Performance - The company achieved operating revenue of 154.94 million yuan, a decrease of 5.48% compared to the previous year [3]. - The net profit attributable to shareholders was 17.42 million yuan, down 4.00% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 13.83 million yuan, reflecting an 8.40% decline from the previous year [3]. - The net cash flow from operating activities was 105.21 million yuan, a significant increase of 688.30% compared to the previous year [3]. Business Operations - The company is focusing on a dual-driven development model of "equipment + operation," enhancing its operational business and optimizing its business structure [5]. - The first BOO project, the Enshi oil-based rock debris project, has been put into operation, and the Zhejiang paint sludge BOO project is in the equipment debugging phase [5]. - The company has entered the waste tire comprehensive utilization operation project through its subsidiary, marking a significant expansion of its operational capabilities [5]. Market Strategy - The company has adopted a proactive sales strategy, focusing on both domestic and international markets, resulting in a 78% increase in new order amounts compared to the previous year [6]. - The company has expanded its patent portfolio, acquiring 7 new domestic and international patents during the reporting period, bringing the total to 115 patents [6]. Product and Service Offerings - The main products include industrial continuous pyrolysis production lines for waste tires, waste plastics, and oily sludge, which facilitate the harmless and resourceful treatment of organic waste [9][10]. - The company provides comprehensive solutions for organic waste treatment, including pre-sales consulting, design, installation, and technical support [12][13]. Corporate Governance and Development - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective checks and balances [7]. - A stock incentive plan for 2024 has been introduced to align the interests of employees with those of the company and shareholders, enhancing motivation and accountability [7]. Innovation and Research - The company continues to focus on innovation, actively exploring new applications for pyrolysis technology in various fields, including oil sand extraction and medical waste treatment [8].