Core Viewpoint - The urban centralized heating industry in China is experiencing rapid growth due to increasing urbanization, rising population, and heightened demand for comfortable living environments, with significant improvements in heating supply capabilities and areas served in 2024 compared to previous years [1][4][8]. Market Policy - The Chinese government has issued multiple policies to support the development of the urban centralized heating industry, creating a favorable environment for growth, including initiatives aimed at energy efficiency, carbon reduction, and infrastructure improvement [7][8]. Industry Chain - The urban centralized heating industry consists of an upstream sector that includes energy suppliers and equipment manufacturers, and a downstream sector that serves residential, commercial, and industrial users, with residential users being a significant consumer group [8][9]. Current Development - In 2024, China's urban hot water supply capacity is projected to reach 648,933 MW, with a year-on-year growth of 2.81%. The total area of centralized heating is expected to reach 1,209,414.51 million square meters, marking a 4.72% increase, with Shandong leading in heating area [1][8]. Competitive Landscape - The market for urban centralized heating in China is fragmented, with a CR5 market share of only 7.34%. Major state-owned enterprises like Huaneng International and Huadian International dominate the market due to their financial strength and resource advantages [9][11]. Development Trends - The industry is shifting towards cleaner energy sources in response to carbon reduction goals, with an increasing application of natural gas, geothermal energy, and solar energy. Southern cities are also beginning to invest more in heating infrastructure, indicating potential growth in these regions [11][12].

Group 1: Business Overview - The company's main business is providing centralized heating services, focusing on steam and electricity since its establishment [1] - The centralized heating industry is characterized by regional competition, with companies primarily operating in industrial parks with heating demands [2] Group 2: Competitive Advantages - The company adopts a cross-regional business layout, covering multiple provinces including Jiangsu, Shandong, Jiangxi, Guizhou, and Hubei, serving various industries such as food, brewing, chemicals, textiles, paper, and pharmaceuticals [2] - The company avoids highly competitive and capital-intensive regions, selecting areas with existing heating demand and growth potential [2] Group 3: Financial Performance - In 2024, the company achieved operating revenue of 1.132 billion yuan, a year-on-year increase of 4.65%, and a net profit of 191 million yuan, up 45.61% from the previous year [3] - The profit increase is attributed to higher steam sales from existing and new customers, reduced financial costs, and improved production management [3] Group 4: Shareholder Engagement - The company has conducted a total of 4 dividend distributions since its listing, amounting to 161 million yuan, emphasizing its commitment to shareholder returns [3] - The company plans to issue up to 39,100,000 shares to its controlling shareholder, raising no more than 385.135 million yuan, primarily for working capital and debt repayment [3]

Group 1: Company Strategy and Market Position - The company is actively exploring market expansion opportunities and aims to enhance its core business performance [2] - The management is committed to improving company value through outstanding operational performance and cash dividends [2] - The company has a strong focus on the centralized heating industry, providing steam supply and electricity generation through cogeneration projects [3] Group 2: Financial Performance and Shareholder Engagement - The 2024 equity distribution was completed in April 2025, reflecting the company's commitment to shareholder returns [2] - The company is open to increasing dividends in the future, depending on market conditions and shareholder expectations [2] - The company is considering a private placement of shares, which is a common compliance arrangement in the capital market [3] Group 3: Technological Advancements - The company has accumulated significant experience in centralized heating and cogeneration, focusing on improving resource utilization and reducing emissions [3] - There is an ongoing exploration of integrating advanced technologies, including artificial intelligence, into the company's operations [3]

江西百通能源股份有限公司 招股说明书摘要 江西百通能源股份有限公司 JIANGXI BESTOO ENERGY CO.,LTD. （江西省南昌市南昌经济技术开发区双港西大街 528 号 B 座 6 层 613 室） 首次公开发行股票招股说明书摘要 保荐人（主承销商） （湖北省武汉市东湖新技术开发区高新大道 446 号天风证券大厦 20 层） 江西百通能源股份有限公司 招股说明书摘要 声明 本招股说明书摘要的目的仅为向公众提供有关本次发行的简要情况，并不包 括招股说明书全文的各部分内容。招股说明书全文同时刊载于深圳证券交易所网 站。投资者在做出认购决定之前，应仔细阅读招股说明书全文，并以其作为投资 决定的依据。 投资者若对本招股说明书及其摘要存在任何疑问，应咨询自己的股票经纪 人、律师、会计师或其他专业顾问。 发行人及全体董事、监事、高级管理人员承诺招股说明书及其摘要不存在虚 假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连 带的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证招股说明书及其 摘要中财务会计资料真实、完整。 保荐人承诺因其为发行人首次公开发行股票制作、出具的 ...

江西百通能源股份有限公司 招股说明书摘要 江西百通能源股份有限公司 JIANGXI BESTOO ENERGY CO.,LTD. （江西省南昌市南昌经济技术开发区双港西大街 528 号 B 座 6 层 613 室） 首次公开发行股票招股意向书摘要 （封卷稿） 保荐人（主承销商） （湖北省武汉市东湖新技术开发区高新大道 446 号天风证券大厦 20 层） 江西百通能源股份有限公司 招股意向书摘要 声明 本招股意向书摘要的目的仅为向公众提供有关本次发行的简要情况，并不包 括招股意向书全文的各部分内容。招股意向书全文同时刊载于深圳证券交易所网 站。投资者在做出认购决定之前，应仔细阅读招股意向书全文，并以其作为投资 决定的依据。 投资者若对本招股意向书及其摘要存在任何疑问，应咨询自己的股票经纪 人、律师、会计师或其他专业顾问。 发行人及全体董事、监事、高级管理人员承诺招股意向书及其摘要不存在虚 假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连 带的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证招股意向书及其 摘要中财务会计资料真实、完整。 保荐人承诺因其为发行人首次公开发行股票 ...

江西百通能源股份有限公司 JIANGXI BESTOO ENERGY CO.,LTD. （江西省南昌市南昌经济技术开发区双港西大街 528 号 B 座 6 层 613 室） 首次公开发行股票招股意向书 （封卷稿） 保荐人（主承销商） （武汉东湖新技术开发区高新大道 446 号天风证券大厦 20 层） 江西百通能源股份有限公司 招股意向书 本次发行概况 | 发行股票类型 | 人民币普通股（A 股） | | --- | --- | | 发行股数 | 本次拟公开发行股票数量不超过 4,609 万股，占发行后公司股份总数的 10.00%，本 | | | 次发行全部为新股发行，不涉及老股东公开发售股份 | | 每股面值 | 人民币 1.00 元 | | 每股发行价格 | 人民币【】元 | | 预计发行日期 | 2023 年 10 月 25 日 | | 拟上市证券交易所 | 深圳证券交易所 | | 发行后总股本 | 不超过 46,090 万股 | | | （一）公司控股股东、实际控制人及其一致行动人、亲属承诺 | | | 本公司的控股股东为百通环保，实际控制人为张春龙，北京衡宇作为张春龙控制的 | | | 企业，张春泉、 ...