Financial Performance - The company's operating revenue for the first half of 2025 was 564.07 million yuan, a decrease of 5.09% year-on-year [1][2] - The net profit attributable to shareholders was 5.02 million yuan, down 85.63% compared to the same period last year [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 762.11 thousand yuan, a decline of 97.53% year-on-year [1][2] - The net cash flow from operating activities was -108.25 million yuan, representing a decrease of 413.47% compared to the previous year [1][2] Fundraising and Projects - The company raised a total of 339.75 million yuan from its initial public offering, with a net amount of 298.21 million yuan after deducting issuance costs [3] - The raised funds were allocated to projects including a 30,000 tons/year FCC catalytic solid waste regeneration project and a 10,000 tons/year industrial solid waste treatment project [3] - The company has conducted three fundraising activities since its listing, totaling 976.19 million yuan [4] Upcoming Fundraising - The company plans to raise up to 850 million yuan through a private placement of A-shares, which will be used for projects in the Jieyang Dannan Sea Petrochemical Industrial Zone and to supplement working capital [4][5] - The total investment for the projects in the Jieyang Dannan Sea Petrochemical Industrial Zone is estimated at 1.1586862 billion yuan, with specific allocations for various projects [5]

Core Viewpoint - The company has adjusted its plan for the issuance of A-shares to specific investors for the year 2024, maintaining the total fundraising amount at a maximum of 850 million yuan, with the net proceeds intended for specific projects [1][3]. Group 1: Fundraising and Project Details - The total amount to be raised from the issuance of A-shares remains unchanged at 850 million yuan, which will be allocated to various projects after deducting issuance costs [1][4]. - The company can adjust the order and specific amounts of investment in the fundraising projects based on project progress and funding needs [3][5]. - The total investment for the projects remains at 1.1586862 billion yuan, with the fundraising amount set at 850 million yuan [3][4]. Group 2: Project Implementation and Changes - The implementation subject and location of the projects have changed, but the total investment, fundraising amount, construction content, investment details, and output products remain unchanged [4][5]. - The projects include the comprehensive utilization of waste from the petrochemical industry, specifically targeting high-salinity wastewater and producing resources such as calcium sulfate whiskers, sodium hydroxide, and hydrogen [4][5]. Group 3: Regulatory and Disclosure Information - The issuance plan is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, with no guarantee of approval or timeline [5]. - The company will fulfill its information disclosure obligations based on the progress of this matter, urging investors to make cautious decisions [5].