Core Viewpoint - The announcement discusses the potential dilution of immediate returns due to the issuance of A-shares to specific investors in 2024, along with measures to mitigate this impact on the company's financial performance [1][4][12]. Financial Impact Analysis - The company anticipates that the issuance will increase the total share capital to 254,242,922 shares, affecting key financial metrics such as earnings per share (EPS) [1][4]. - Under various scenarios, the projected net profit for 2025 is estimated at 42.60 million yuan, with a potential 10% decline from 2024, leading to a diluted EPS of 0.17 yuan [2][3]. Necessity and Rationality of the Issuance - The funds raised will be used to optimize the business structure, enhance industry position, and improve core competitiveness and profitability, aligning with national industrial policies and market trends [4][5]. - The projects funded by this issuance are expected to significantly contribute to the company's growth and sustainability [6][7]. Company’s Business and Technological Capabilities - The company specializes in hazardous waste treatment for the petrochemical industry, with proprietary technologies for resource recovery from waste catalysts and high-sulfur petroleum coke [6][9]. - The company has developed a strong market presence and technical capabilities, particularly in the Dannan Sea Industrial Park, which generates substantial waste [6][11]. Commitment to Protecting Investor Interests - The company has outlined specific measures to manage the raised funds effectively, ensuring compliance with legal requirements and enhancing operational efficiency [12][13]. - Commitments from major stakeholders, including the controlling shareholder and management, have been made to uphold the measures aimed at mitigating the dilution of immediate returns [14].