Group 1 - The controlling shareholder, Meixin Da Group, plans to increase its stake in Wangneng Environment by investing between RMB 100 million and RMB 200 million within six months starting from March 13, 2025 [1][2] - As of July 31, 2025, Meixin Da Group has acquired a total of 4,953,356 shares, representing 1.14% of the company's total share capital, with a total transaction amount of RMB 86,664,402 [1][2] - Meixin Da Group currently holds 147,819,566 shares, accounting for 34.06% of the company's total share capital [2] Group 2 - The share purchase plan is not yet completed, and Meixin Da Group will continue to execute the plan as intended [2] - The implementation of the share purchase plan may face uncertainties due to changes in the capital market and potential delays in funding [2]

Group 1 - *ST Jinglan has been issued a "Notice of Case Filing" by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, marking a recurrence of such issues since July 2023 [2] - The company has previously faced penalties for multiple disclosure violations, including failure to disclose goodwill impairment in annual reports for 2021 and 2022, resulting in a fine of 3 million yuan [2] - The company has committed to improving internal governance and enhancing the quality of information disclosure to protect the interests of shareholders [2] Group 2 - *ST Jinglan's main business includes industrial and urban solid waste harmless disposal and soil environment remediation, but its performance has been declining [3] - Revenue has decreased from 738 million yuan in 2021 to 195 million yuan in 2022, and further down to 149 million yuan in 2023, a year-on-year decline of 23.69% [3] - Although revenue is projected to increase to 378 million yuan in 2024, the company is expected to incur a net loss of 110 million yuan, a year-on-year increase of 110.41% [3] Group 3 - In Q1 2025, *ST Jinglan reported revenue of 126 million yuan and a net loss of 12.95 million yuan [4] - The company attributed the Q1 loss to production stoppages during the Spring Festival, which significantly reduced profits due to depreciation, labor, and interest costs [4] - Annual maintenance costs also contributed to the reduced profits, leading to a pattern of low or negative profits in the first quarter of each year [4]

Group 1 - The green and low-carbon transformation of enterprises in Liaoning is crucial under the "dual carbon" goals, with a focus on technological innovation and carbon asset management [1][2] - Incorporating carbon assets into financial statements is essential for the transformation of enterprises, allowing for better asset management and optimization of business operations [2] - The establishment of a green low-carbon supply chain is vital, with an emphasis on technological innovation and the integration of various sectors to enhance logistics systems [2] Group 2 - The need for improved policies and assessments of the circular economy in Liaoning is highlighted, with a call for specific development policies during the "14th Five-Year Plan" period [3] - Industry experts and leading enterprises are encouraged by the innovative measures proposed for circular economy development, which align with their strategic goals [4] - The development of the hydrogen energy industry requires collaboration among upstream and downstream enterprises, with government support to facilitate this cooperation [5] Group 3 - The provincial government is committed to fostering new productive forces and providing platforms for enterprise development, ensuring high-quality green and low-carbon growth [5]

Core Viewpoint - Leshan City is actively promoting the construction of a "waste-free city" by leveraging its cultural and natural heritage, particularly through the Emei Mountain and Leshan Giant Buddha, to implement green transformation practices and explore sustainable waste management solutions [2]. Group 1: Waste Management Strategy - The primary focus of the "waste-free city" initiative is on reduction, resource utilization, and harmless disposal of solid waste [3]. - Leshan City is establishing a "4+N" solid waste comprehensive utilization and disposal system, which includes four major bases for resource recycling and utilization across various sectors [3]. - The city has developed facilities for the collection, storage, transfer, utilization, and disposal of solid waste, addressing the shortfalls in waste management infrastructure [3]. Group 2: Industrial Waste Utilization - The Emei Mountain cement industry is utilizing solid waste as alternative fuel and raw materials, significantly reducing fossil fuel consumption and resource extraction [4]. - The city has achieved an industrial solid waste comprehensive utilization rate of 84.87%, with a daily capacity for waste incineration power generation reaching 1,600 tons [4]. - The recycling rate for agricultural film is 89.6%, and the comprehensive utilization rate for livestock manure has increased to 96.41% [4]. Group 3: Collaborative Efforts and Funding - Leshan City is addressing challenges in solid waste management by establishing diverse funding channels and promoting key projects [5]. - The city has introduced a management approach for key projects, facilitating low-threshold financing conditions and successfully attracting investments totaling 2.32 billion yuan [5]. - A collaborative model involving government, enterprises, and research institutions has been established to tackle key technological challenges in solid waste utilization [5]. Group 4: Innovative Waste Utilization Techniques - The city is conducting research on the utilization of phosphogypsum tailings, aiming to create a closed-loop system for mining waste [6]. - New technologies for the comprehensive utilization of oil-based rock debris have been developed, with applications for pollution prevention and resource recovery [6]. Group 5: Community Engagement and Education - Leshan City is promoting the "waste-free" concept through community initiatives, including the establishment of "waste-free cells" in various sectors [7]. - The Emei Mountain scenic area is implementing measures such as electronic tickets and waste sorting to enhance visitor engagement in waste reduction efforts [8]. - The city has launched educational campaigns and creative activities to foster a culture of waste reduction among residents [9].

Company Overview - The company is a technology-driven environmental protection enterprise specializing in solid waste treatment and resource utilization, focusing on electronic waste dismantling, scrapped vehicle dismantling, and hazardous waste disposal [2][3] - The company has established three electronic waste dismantling bases and 13 subsidiaries to enhance its operational capabilities and competitive advantages in the solid waste treatment industry [2] Business Model - The company has developed a comprehensive business chain that includes electronic waste dismantling, recycling of old electronic devices, scrapped vehicle dismantling, and the harmless disposal of hazardous waste [3] - The primary revenue sources include sales of dismantled products from electronic waste and scrapped vehicles, government subsidies for dismantling electronic waste, and service fees for hazardous waste disposal [4] Procurement and Recovery Model - The company primarily sources electronic waste from individual recyclers and enterprises, maintaining stable partnerships through long-term agreements [5] - For scrapped vehicles, the company procures from various sources including individuals, government agencies, and automotive companies, with pricing based on multiple factors such as vehicle type and market conditions [6] - The company also recovers old electronic devices from large internet and financial companies through bidding and negotiations [7] Sales Model - The sales of dismantled products from electronic waste and scrapped vehicles are conducted through direct sales and an online auction platform, ensuring competitive pricing [10] - The company utilizes WeChat mini-programs and public accounts for sales, enhancing customer engagement and streamlining the sales process [10][11] Financial Overview - The company has received a standard unqualified audit opinion from its accounting firm, indicating sound financial practices [1] - A profit distribution plan was approved, proposing a cash dividend of 0.4 yuan per 10 shares to shareholders [1]