Core Insights - Qingdao Huicheng Environmental Protection Technology Group Co., Ltd. held an investor relations event with participation from 70 institutions including Nomura Asset Management and Yingsheng Asset Management [1] Group 1: Investor Relations Activity - The investor relations activity was conducted via a conference call on October 12, 2025, from 20:30 to 21:30 [1] - Key personnel from the company included Chief Technology Officer Zhang Xinkong and Board Secretary Ru Fan [1] Group 2: Project Updates - The 200,000-ton waste plastic project successfully commenced trial production on July 11, 2025, and resumed production on September 29, 2025, after addressing design issues [1] - The produced plastic cracking light oil has met expected standards and has been delivered to downstream customers [1] - The company is constructing a hydrogenation unit to enhance product quality [1] Group 3: Sales and Partnerships - Customers for plastic cracking light oil include Fujian United Petrochemical, which is currently testing the product [1] - Collaborations with companies like Amco have been established for raw material supply and chemical recycling products, benefiting from green premiums [1] Group 4: Future Expansion Plans - The successful industrial verification of the 200,000-ton/year mixed waste plastic resource utilization project lays the groundwork for future expansion [1] - The company is in discussions with multiple local governments for project construction, with plans submitted to the National Development and Reform Commission [1] - Funding for expansion projects will be sourced from primary and secondary markets as well as financial loans [1] Group 5: Technical Advantages - The company has developed a unique "one-step" process that includes three core technologies for efficient plastic recycling [1] - The project is currently operating at 70% to 80% capacity, with a target to reach full capacity by Q1 2026 [1] Group 6: Raw Material Supply - The project relies on government-provided waste resources, and a cooperation agreement has been signed with China Resources Recycling Group [1] - An automated project by Guangdong Huihai Recycling Resources Co., Ltd. is expected to commence production by the end of October 2025 [1] Group 7: Convertible Bond Issues - The company advises stakeholders to monitor announcements regarding the potential redemption of convertible bonds [1]

Core Viewpoint - The research conducted by Chinese scientists using nuclear magnetic resonance technology provides a new pathway for plastic waste management and resource recycling by identifying key chemical structures in mixed waste plastics and designing customized catalytic conversion plans to transform waste into high-value chemical products [1][3]. Group 1: Research and Methodology - The study focuses on the challenge of plastic waste, which is prevalent in various sectors such as packaging, home goods, automotive, and electronics, and is often difficult to recycle due to its mixed nature [1]. - The research team, led by Professor Martin from Peking University in collaboration with the Dalian Institute of Chemical Physics, utilized nuclear magnetic resonance technology to identify key chemical structures in mixed waste plastics [1]. - The new method allows for the mixed processing of complex waste plastics, such as food containers and packaging bags, without the need for labor-intensive sorting, thus improving efficiency and reducing costs [2]. Group 2: Economic and Environmental Impact - The innovative approach significantly enhances the economic viability and environmental benefits of plastic resource recovery by producing high-value chemical raw materials such as benzoic acid, lactic acid, bisphenol A, and alanine [1]. - The research aims to alleviate environmental pollution while also reducing dependence on fossil fuels, contributing to national carbon reduction efforts [3].