Core Viewpoint - Junxin Co., Ltd. focuses on the entire industrial chain of solid waste treatment and has recently submitted a listing application to the Hong Kong Stock Exchange to raise funds for waste treatment projects both domestically and overseas [1] Group 1: Company Overview - As of August 19, 2025, Junxin's stock price is 14.28 yuan, down 0.28% from the previous trading day, with a trading volume of 56,597 hands and a transaction amount of 0.81 billion yuan [1] - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2022, with a total market capitalization of 11.268 billion yuan [1] - Junxin's main business includes garbage cleaning, incineration power generation, comprehensive waste treatment, and municipal solid waste transfer and transportation [1] Group 2: Financial Performance - The company expects to achieve revenue exceeding 2.4 billion yuan and a net profit of 686 million yuan in 2024 [1] Group 3: Project Developments - Junxin has signed multiple environmental project agreements in Central Asia, including waste disposal projects in Bishkek and Osh City, Kyrgyzstan [1]

Core Viewpoint - Junxin Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to expand its operations in the solid waste treatment industry, where it is a leading player in Hunan Province and a national high-tech enterprise [1][4]. Financial Performance - In 2024, Junxin Co., Ltd. achieved significant revenue growth, surpassing 2.4 billion RMB, primarily due to increased construction service income from the Liuyang and Pingjiang projects, as well as the acquisition of Renhe [4]. - The company's revenue from 2022 to 2025 shows a consistent upward trend, with figures of approximately 1.548 billion RMB, 1.837 billion RMB, 2.411 billion RMB, and 697 million RMB for the respective years, while net profits were around 587 million RMB, 653 million RMB, 686 million RMB, and 236 million RMB [3]. - The gross profit margin has shown a downward trend from 55.9% in 2022 to 41.5% in 2024, with a slight recovery to 53.9% in the first quarter of 2025 [3]. Industry Position - Junxin Co., Ltd. ranks fourth nationally in terms of daily processing capacity for waste incineration power plants and third in the single project capacity for kitchen waste treatment, with the highest oil recovery rate in the country [5]. - The company operates in one of the largest environmental comprehensive parks in China, which includes various projects related to waste incineration and comprehensive waste treatment [5]. Market Trends - The global generation of municipal solid waste is projected to increase from 1,894.1 million tons in 2020 to 2,619.1 million tons by 2029, with China's municipal solid waste expected to grow from 235.1 million tons in 2020 to 260.6 million tons in 2024 [6]. - The incineration treatment volume in China is also on the rise, with a compound annual growth rate of 10.8% from 2020 to 2024, and a forecasted growth rate of 7.0% from 2025 to 2029 [6]. International Expansion - Junxin Co., Ltd. is actively expanding its business into Central Asia, having signed service concession agreements in Kyrgyzstan for green energy projects and plans to develop similar projects in Kazakhstan [8][9]. - The company has initiated four overseas expansion plans in Kyrgyzstan and Kazakhstan, targeting regions with inadequate waste collection and treatment infrastructure, where Chinese companies are well-positioned to fill the gap [9]. Future Funding - The upcoming IPO on the Hong Kong Stock Exchange aims to raise funds for future projects related to comprehensive waste treatment and resource utilization, ongoing research and innovation, and general corporate purposes [9].

Core Viewpoint - Junxin Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC and CITIC Securities as joint sponsors [1] Company Overview - Junxin's core business includes waste incineration power generation, comprehensive treatment of various waste types (such as sludge and fly ash), municipal solid waste transfer processing, and the collection and resource utilization of kitchen waste [1] - The Changsha Environmental Industry Park operated by Junxin is one of the largest comprehensive environmental parks in China [1] Industry Position - Junxin ranks among the top in the industry, with its Changsha waste incineration power generation project having a daily processing capacity that ranks fourth nationwide [1] - The average electricity generation per ton of waste is the highest among waste incineration power generation companies in China [1] - Junxin's Changsha transfer project and kitchen waste project rank first and third, respectively, among similar projects nationwide [1] Strategic Expansion - The company is actively pursuing overseas strategic expansion and has signed multiple cooperation agreements for green energy projects in Central Asia, specifically in Kyrgyzstan and Kazakhstan [1]

Core Viewpoint - Junxin Co., Ltd. is a leading company in the waste management industry, providing comprehensive waste treatment and resource utilization solutions, including green energy projects [2][3]. Business Overview - The company operates the largest environmental comprehensive park in China, located in Changsha, which includes various projects related to waste incineration and comprehensive waste treatment [2]. - Core business activities include: 1. Waste incineration power generation 2. Comprehensive treatment of various wastes (including sludge, wastewater, leachate, fly ash, etc.) 3. Transfer, compression, and transportation of municipal solid waste 4. Collection, harmless treatment, and resource utilization of kitchen waste [2]. Strategic Expansion - As part of its overseas expansion strategy, Junxin has established operations in Central Asia, signing service concession agreements in Kyrgyzstan and framework agreements for similar projects in Osh and Issyk-Kul regions [2]. - The company has also signed a memorandum of understanding to develop similar projects in Almaty, Kazakhstan [2]. Market Position - In 2024, Junxin's Changsha waste incineration project ranked fourth in the country for daily processing capacity among solid waste incineration projects and ranked first for average electricity generation per ton of waste [3]. - The Changsha transfer project is ranked first in the country for waste transfer and transportation, while the kitchen waste project ranks third for daily processing capacity [3]. Financial Performance - Revenue figures for the company are as follows: - 2022: Approximately 1.55 billion RMB - 2023: Approximately 1.84 billion RMB - 2024: Approximately 2.41 billion RMB - Q1 2025: Approximately 697 million RMB [3][5]. - Profit figures for the same periods are: - 2022: Approximately 588 million RMB - 2023: Approximately 653 million RMB - 2024: Approximately 686 million RMB - Q1 2025: Approximately 236 million RMB [3][5].

Core Viewpoint - Junxin Co., Ltd. is a leading company in the waste management industry, providing comprehensive waste treatment and resource utilization solutions, including green energy projects [2] Business Overview - Junxin Co., Ltd. operates the largest environmental comprehensive park in China, located in Changsha, which includes various projects related to waste incineration and comprehensive waste treatment [2] - The company's core business includes: 1. Waste incineration power generation 2. Comprehensive treatment of various wastes (including sludge, wastewater, leachate, fly ash, etc.) 3. Transfer, compression, and transportation of municipal solid waste 4. Collection, harmless treatment, and resource utilization of kitchen waste [2] Strategic Expansion - As part of its overseas expansion strategy, Junxin Co., Ltd. has established operations in Central Asia, signing service concession agreements in Kyrgyzstan for green energy projects in Bishkek and Osh City, as well as a memorandum of understanding for similar projects in Almaty, Kazakhstan [2] Market Position - In 2024, Junxin Co., Ltd.'s Changsha waste incineration project ranked fourth in the country for daily processing capacity among all solid waste incineration projects and ranked first in average electricity generation per ton of waste among all waste incineration companies in China [3] - The Changsha transfer project ranked first in the country for waste transfer and transportation, while the kitchen waste project ranked third for daily processing capacity [3] Financial Performance - The company reported revenues of approximately RMB 1.548 billion, RMB 1.837 billion, RMB 2.411 billion, and RMB 697 million for the years 2022, 2023, 2024, and the first three months of 2025, respectively [3][5] - The net profits for the same periods were approximately RMB 588 million, RMB 653 million, RMB 686 million, and RMB 236 million [3][5] - The gross profit margin decreased from 55.9% in 2022 to 41.5% in 2024, while the operating profit margin also showed a decline [6]

Core Viewpoint - Hunan Junxin Environmental Protection Co., Ltd. (301109.SZ) has submitted an application to list on the Hong Kong Stock Exchange, with China International Capital Corporation and CITIC Securities as joint sponsors [1]. Company Overview - Junxin Environmental Protection is a leading company in providing comprehensive waste treatment and resource utilization solutions, including investment, management, and operation of green energy projects [4]. - The company's main operational base, Changsha Environmental Industry Park, is one of the largest comprehensive environmental parks in China, focusing on projects related to waste incineration power generation and various waste treatments [4]. Business Operations - Core business activities include: 1. Waste incineration power generation 2. Comprehensive treatment of various wastes (including sludge, wastewater, leachate, fly ash, and others) 3. Transfer, compression, and transportation of municipal waste 4. Collection, harmless treatment, and resource utilization of kitchen waste [4]. - As part of its overseas expansion strategy, the company is establishing operations in Central Asia, having signed service concession agreements in Kyrgyzstan and a memorandum of understanding in Kazakhstan [4]. Market Position - According to Frost & Sullivan, Junxin's Changsha waste incineration project ranks fourth in national solid waste incineration projects by daily processing capacity and first in average electricity generation per ton of waste among all waste incineration companies in China [5]. - The Changsha transfer project ranks first in the country for waste transfer and transportation, while the kitchen waste project ranks third by daily processing capacity [5]. Financial Performance - Revenue figures for the company are as follows: - 2022: Approximately 1.548 billion RMB - 2023: Approximately 1.837 billion RMB - 2024: Approximately 2.411 billion RMB - Q1 2025: Approximately 697 million RMB [5]. - Profit figures for the same periods are: - 2022: Approximately 588 million RMB - 2023: Approximately 653 million RMB - 2024: Approximately 686 million RMB - Q1 2025: Approximately 236 million RMB [5].