Group 1 - A new company, Rudong Baquan Renewable Resources Co., Ltd., has been established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Wang Xiangbao [1] - The business scope includes various activities related to renewable resources, such as recycling, processing, and sales of renewable resources, as well as research and development in related technologies [1] Group 2 - The company is involved in the recycling of production waste metals and the processing of metal waste and scraps [1] - It also focuses on the research and development of technologies for wastewater treatment, recycling of old asphalt, and carbon fiber recycling [1] - Additional services include resource management, consulting on resource recycling services, and extraction and purification of marine biological active substances [1]

Core Viewpoint - Nanjing Yumingfeng Recycling Resources Co., Ltd. has been established with a registered capital of 100,000 RMB, focusing on various recycling and sales activities in the resource recovery sector [1] Company Summary - The legal representative of Nanjing Yumingfeng Recycling Resources Co., Ltd. is Yang Jianbao [1] - The company’s registered capital is 100,000 RMB [1] - The business scope includes general projects such as recycling of renewable resources (excluding production waste metals), sales of renewable resources, and research and development of resource recycling technologies [1] Industry Summary - The company is involved in the recycling of production waste metals and offers a wide range of sales services including metal materials, high-performance non-ferrous metals and alloys, batteries, hardware products, electronic products, and various machinery and building materials [1] - The company also provides ordinary goods warehousing services (excluding hazardous chemicals) and engages in the retail of automotive parts and electronic components [1]

Company Overview - Yuechi Chengchuang Renewable Resources Co., Ltd. has been established with a registered capital of 0.5 million RMB [1] - The legal representative of the company is Li Xiaofang [1] Business Scope - The company operates in various sectors including the sales and recycling of renewable resources, excluding production waste metals [1] - It specializes in the recovery and secondary utilization of used power batteries from new energy vehicles, excluding hazardous waste management [1] - Additional services include installation of general machinery, repair of specialized equipment, and sales of various products such as electrical components, fire-fighting equipment, and construction materials [1] - The company is also involved in the manufacturing of rubber products and the sale of office equipment, among other items [1] Licensing - The company is permitted to manufacture electrical wires and cables, subject to approval from relevant authorities [1]

Group 1 - The establishment of Wuhan Litao Recycling Resources Business Unit is noted, with a registered capital of 50,000 RMB [1] - The legal representative of the business unit is Xu Gaoli [1] - The business scope includes various activities such as recycling and sales of renewable resources, sales of metal and building materials, and ordinary goods warehousing services [1] Group 2 - The company is involved in the sales of plastic products, paper products, and production waste metal recycling [1] - It also engages in the sales of mechanical and electrical equipment, electrical devices, and batteries [1] - Additional services include leasing (excluding licensed leasing services), labor services (excluding labor dispatch), and handling and transportation [1]

Group 1 - A new company, Shangrao Guihe Recycling Resources Co., Ltd., has been established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Liao Yuan'an [1] - The company's business scope includes general projects such as recycling resource sales, processing of metal waste and scraps, research and development of resource recycling technology, and recycling of used power batteries from new energy vehicles [1] Group 2 - The company is involved in the recycling and utilization of resources, excluding hazardous waste operations [1] - It also engages in the sale of batteries, provided that it operates within the legal framework and with the necessary business licenses [1]

Group 1 - A new company, Wuhe County Erliu Recycling Resources Co., Ltd., has been established with a registered capital of 1 million RMB [1] - The legal representative of the company is Chen Erliu [1] - The company's business scope includes general projects such as recycling of renewable resources (excluding production waste metals), processing and sales of renewable resources, and wholesale and retail of hardware products [1] Group 2 - The company is also involved in licensed projects, specifically the manufacturing of wires and cables, which requires approval from relevant authorities before operations can commence [1] - The company is permitted to operate in areas that are not prohibited or restricted by laws and regulations [1]

Group 1 - A new company, Wuxi Feifan Renewable Resources Co., Ltd., has been established with a registered capital of 1 million RMB [1] - The legal representative of the company is Xu Juan [1] - The company's business scope includes construction engineering, road cargo transportation (excluding hazardous goods), urban household waste management, and urban construction waste disposal [1] Group 2 - The company is involved in various general projects such as recycling of renewable resources (excluding production waste metals), sales and processing of renewable resources, and landscaping engineering [1] - Additional services offered by the company include project management, sales of metal products, plastic products, paper products, and machinery [1] - The company also engages in import and export activities, as well as technology import and export, subject to legal approvals [1]

Group 1 - A new company, Hejian Linsheng Renewable Resources Co., Ltd., has been established with a registered capital of 300,000 RMB [1] - The legal representative of the company is Yang Yanlin [1] - The business scope includes general projects such as recycling of renewable resources (excluding production waste metals), processing of renewable resources, and sales of renewable resources [1] Group 2 - The company is also involved in the manufacturing and retail of automotive parts and accessories [1] - Additional activities include the sale of metal products, rubber products, and the operation of wires and cables [1] - The company is permitted to engage in road cargo transportation (excluding hazardous goods), subject to relevant approvals [1]

Core Viewpoint - A new company, Hejian Shengxuan Recycling Resources Co., Ltd., has been established with a registered capital of 100,000 RMB, focusing on various recycling and manufacturing activities [1] Company Summary - The legal representative of the company is Fang Yanqing [1] - The registered capital of the company is 100,000 RMB [1] - The company’s business scope includes general projects such as recycling of renewable resources (excluding production waste metals), processing and sales of renewable resources, and manufacturing of electronic components [1] Industry Summary - The company is involved in the recycling industry, specifically in the recovery and processing of renewable resources [1] - It also engages in the manufacturing and retail of automotive parts, hardware products, and various chemical products [1] - The company is permitted to conduct road cargo transportation (excluding hazardous goods) upon approval from relevant authorities [1]

Core Viewpoint - The company plans to establish a holding subsidiary, Tongshan Shenwu Low Carbon Material Technology Co., Ltd., to advance a 50,000-ton recycled copper circular economy project, enhancing its industry chain and capacity layout, thereby improving profitability and market competitiveness [2][9]. Investment Overview - The total investment for the project is estimated at 120 million RMB, with Shenwu Energy contributing approximately 61.2 million RMB, representing a 51% stake [3][9]. - The subsidiary will be co-established with Tongshan Tongtai Supply Chain Co., Ltd. and Hubei Zhongyi Copper Industry Co., Ltd., with respective contributions of 43.2 million RMB and 15.6 million RMB [3][5]. Financial Structure - The registered capital of the new subsidiary is set at 10 million RMB, with Shenwu Energy contributing 36% in cash and physical assets [2][3]. - Funding sources for the investment include cash and bank loans, with the company having secured bank credit [3][5]. Project Details - The project involves leasing and renovating a 30,000 square meter factory for production [5][9]. - The project company will operate as a limited liability company, with shareholders responsible for their subscribed capital [6][9]. Market and Industry Context - The recycled copper industry faces challenges such as low and volatile profit margins, influenced by global economic conditions and commodity cycles [9][10]. - The company acknowledges potential risks related to copper price fluctuations and market demand, which could significantly impact project returns [10]. Governance and Management - The governance structure includes a board of directors with representatives from each shareholder, and a supervisory board member appointed by one of the partners [7][8]. - Financial management will adhere to the accounting standards applicable to the company, with independent audits conducted by third-party firms [8]. Long-term Impact - The investment is not expected to adversely affect the company's financial status or operations in 2025, but its long-term impact will depend on the project's execution and market conditions [9]. - The establishment of the new subsidiary is seen as a strategic move to leverage resources and enhance sustainable development [9].