Core Viewpoint - The article highlights the contradiction between political rhetoric regarding the dangers of Chinese waste cooking oil and the reliance of American companies on this oil for sustainable fuel production [1][3]. Timeline A: Public Panic - Media and some politicians conflate legally sourced used cooking oil (UCO) with illegal "gutter oil," exaggerating food safety risks and industrial dependency. In reality, UCO is a crucial raw material for biodiesel and sustainable aviation fuel, representing a model of the circular economy [7][9]. Timeline B: Industrial Dependence - In 2024, the U.S. imported a record 1.27 million tons of UCO from China, making it the largest supplier of waste cooking oil to the U.S. This is due to the inability of the domestic market to meet the surging demand for renewable fuels. The Biden administration's goal of carbon neutrality by 2030 necessitates increased use of biofuels, with waste cooking oil being a key ingredient [11][13]. Media Influence - From a communication perspective, this situation exemplifies agenda-setting, where selective media reporting creates public focus on "Chinese waste cooking oil." However, once the truth of the supply chain is understood, the perceived threat dissipates, revealing that the political narrative is more about performance than reality [15]. Economic and Political Discrepancy - The disconnection between political statements and economic actions is evident, as politicians call for resistance against perceived threats while businesses continue to rely on Chinese products. This pattern has been seen previously with other industries, such as the tech sector and textiles [16]. Underlying Motivations - The divide in American public opinion and the supply chain stems from differing objectives: politicians seek votes, media aim for traffic, and companies pursue profits. This results in a scenario where political leaders publicly defend national security while simultaneously depending on Chinese oil for operations [17]. Conclusion - The case serves as a reminder that when public discourse raises alarms about threats while the supply chain continues to procure necessary materials, the truth often lies in the actual operations of businesses. Political performances, no matter how compelling, do not alter the underlying economic realities [18].

Group 1 - The core argument highlights the potential impact of Trump's proposed trade measures against China on the U.S. biofuel industry, particularly regarding the import of used cooking oil (UCO) [1][3] - In the first eight months of 2024, 384,000 tons of Chinese UCO accounted for 65% of U.S. imports, with an expected total of 1.27 million tons for the year, crucial for 72 U.S. biofuel plants [3] - The U.S. generates approximately 600,000 tons of waste oil annually, which is insufficient to meet domestic demand, emphasizing the reliance on Chinese UCO for achieving carbon reduction targets [3] Group 2 - The global supply chain challenges are exacerbated by the EU's increased demand for UCO, with a gap of 2 million tons due to Indonesia's export restrictions [5] - China's efficient waste oil recovery system can convert 10 million tons of UCO annually, while the U.S. faces higher recovery costs due to its fragmented restaurant structure [5] - The U.S. biofuel industry is struggling to source UCO globally, with significant competition for available supplies [5] Group 3 - Trump's suggestion to replace UCO with soy oil is economically unfeasible, as soy oil production costs are 2.3 times higher than UCO, and the transition would take 18 months [7] - Historical parallels are drawn to the 19th-century British Corn Laws, illustrating the potential economic consequences of protectionist measures on the U.S. sustainable aviation fuel (SAF) industry [8] Group 4 - Workers in Wisconsin's biodiesel plants are expressing concerns over raw material shortages, which have reduced production capacity utilization to 61% [10] - The importance of raw material security in the context of green energy transition is emphasized, with UCO exports from China contributing significantly to carbon reduction efforts [10] Group 5 - The article warns against the dangers of weaponizing energy supply chains, citing historical examples of trade conflicts leading to systemic failures [12] - The U.S. remains heavily reliant on China for soybean purchases, with an expected procurement of 32 million tons in 2024, countering claims of intentional trade disruptions [12]

Core Points - The article discusses the escalating trade tensions between the U.S. and China, particularly focusing on the U.S. response to China's export restrictions on rare earths and other products [1][3] - President Trump has threatened to impose a 100% tariff on Chinese goods and hinted at retaliatory measures against Chinese imports, particularly targeting used cooking oil (UCO) [1][3] Group 1: U.S.-China Trade Relations - The U.S. is considering retaliatory actions against China for halting imports of American soybeans, which has led to a significant drop in soybean prices in the U.S. [1][3] - Trump has accused China of deliberately stopping U.S. soybean imports and suggested that the U.S. could stop purchasing Chinese cooking oil as a countermeasure [3] Group 2: Used Cooking Oil (UCO) Market - China is a major supplier of used cooking oil to the U.S., with the U.S. accounting for 43% of China's UCO exports in 2024 [3] - The demand for UCO in the U.S. has surged due to the Biden administration's push for green transportation, which relies on UCO for biofuel production [3] Group 3: Implications of Trade Actions - Economists question the effectiveness of targeting Chinese cooking oil, noting that Europe is also a significant buyer of Chinese UCO, with exports to Europe increasing by 45% year-on-year in the first nine months of 2024 [5] - Cutting off UCO supplies from China could adversely affect U.S. domestic reduction plans and energy transition efforts, potentially leading to higher costs for biofuel production [5]

Group 1 - The company has signed a strategic cooperation agreement with Beijing Yisheng Environmental Energy Technology Co., Ltd. to establish a close alliance in the waste cooking oil (UCO) business sector [1] - The agreement includes the integration of domestic UCO resources, with Beijing Yisheng responsible for unified procurement and sales based on current market conditions [1] - The parties will explore additional domestic UCO procurement channels from other suppliers in mainland China to expand UCO resource sources [1] Group 2 - The partnership aims to promote the development of the "urban UCO sector" in mainland China and establish a UCO management center to oversee the technical development, manufacturing, procurement, installation, and management of oil-water separation equipment [2] - The UCO management center will ensure comprehensive collection of waste fats from the source [2] Group 3 - The agreement includes the integration of resources in the overseas UCO trade market, focusing on expanding trade in waste palm oil and other UCOs to export markets in Europe, America, and Southeast Asia [3] Group 4 - The parties will jointly manage the entire process of UCO collection, procurement, testing, and trade to ensure quality, fairness, compliance, and profitability [4] - The company currently has projects involving the collection and production of UCO from kitchen waste, but needs to establish comprehensive and trustworthy partnerships with external UCO companies due to internal resource limitations [4] - This cooperation is expected to significantly expand procurement and sales channels, leading to substantial business growth and mutual benefits [4]

Core Viewpoint - The strategic cooperation agreement between the company and Beijing Yisheng Environmental Energy Technology Co., Ltd. aims to establish a close alliance in the used cooking oil (UCO) business, leveraging their respective industry strengths and resources to enhance market presence and operational efficiency [1][2][3][4] Group 1: UCO Resource Integration - The agreement includes the integration of domestic UCO resources, with Beijing Yisheng responsible for unified procurement and sales based on current market conditions [1] - The parties will explore additional domestic UCO procurement channels from other suppliers in mainland China to expand resource sources [1] Group 2: Urban UCO Development - The parties will jointly promote the development of the "urban UCO sector" in mainland China and establish a UCO management center to oversee the technical development, manufacturing, procurement, installation, and management of oil-water separation equipment [2] Group 3: Overseas UCO Trade Market - The collaboration will focus on integrating resources in the overseas UCO trade market, particularly expanding trade in waste palm oil and other UCO products to export markets in Europe, America, and Southeast Asia [3] Group 4: UCO Supply Chain Management - The parties will jointly manage the entire process of UCO collection, procurement, testing, and trade, ensuring quality, fairness, compliance, and profitability [4] - The company’s existing kitchen waste treatment projects involve UCO collection and primary processing, but due to internal resource limitations, a comprehensive and trustworthy partnership with external UCO companies is necessary [4] - This collaboration is expected to significantly expand procurement and sales channels, leading to substantial business growth and mutual benefits [4]

Core Viewpoint - The company has signed a strategic cooperation agreement with Beijing Yisheng Environmental Energy Technology Co., Ltd. to deepen collaboration in the used cooking oil (UCO) business sector [1] Group 1: Strategic Partnership - The partnership aims to leverage the rich experience and resources of both parties to establish a close alliance in the UCO business [1] - Beijing Yisheng is a high-tech enterprise focused on environmental technology and renewable energy, committed to promoting resource recycling and green low-carbon development [1] Group 2: Business Expansion - The company currently has capabilities in collecting and processing UCO but faces limitations in internal resource channels, necessitating a comprehensive and trustworthy partnership with external UCO specialists [2] - The collaboration will expand procurement and sales channels, leading to significant business scale expansion and mutual benefits [2] - Beijing Yisheng will exclusively supply all UCO collected and transported from external sources to the company's project for processing and subsequent sales [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 NEW CONCEPTS HOLDINGS LIMITED 創 業 集 團（ 控 股 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2221） 自願公佈 最新業務資料 簽訂戰略合作協議 本公告由創業集團（控股）有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事 會（「董事會」）自願作出，以告知本公司股東及潛在投資者本集團最新業務發展。 簽訂戰略合作協議 董事會謹此宣佈，本公司已與北京宜升環保能源科技有限公司（「北京宜升」）於2025 年8月7日簽訂戰略合作協議（「戰略合作協議」）。 – 1 – 有關廢棄食用油回收的合作 基於本公司與北京宜升（「訂約方」）於彼等各自領域內的豐富經驗及資源，並充分發 揮彼等各自的行業優勢，訂約方將建立緊密聯盟，在廢棄食用油（「UCO」）業務領域 開展深度合作。戰略合作協議主要包括： 1. 整合國內UCO資源 整合本集團現有及未來國內UCO資源，並由 ...

Core Viewpoint - The article highlights the positive trend in the performance forecasts of A-share companies for the first half of 2025, indicating a recovery in the pre-announcement rate compared to the previous year, with expectations for the market to rise in the second half of the year [2][3][12]. Performance Forecasts - Over 1,500 A-share companies have disclosed their performance forecasts for the first half of 2025, with more than 300 companies expecting a year-on-year net profit growth of over 100% and over 40 companies expecting growth exceeding 500% [3]. - The overall pre-announcement rate for A-shares is 43.29%, slightly up from 42.64% in 2024, but still at a relatively low level compared to the past decade [3]. - The sectors with the highest pre-announcement rates include non-bank financials (82.5%), non-ferrous metals (74.1%), electronics (61.0%), agriculture, forestry, animal husbandry, and fishery (56.6%), and automobiles (51.7%) [3]. Sector Performance - Significant growth has been observed in sectors such as media, agriculture, forestry, animal husbandry, building materials, transportation, non-ferrous metals, non-bank financials, and home appliances [6]. - Conversely, sectors like light industry manufacturing, retail, environmental protection, and oil and petrochemicals are experiencing negative growth with substantial year-on-year declines [7]. Analyst Ratings Adjustments - In the past two weeks, eight A-share stocks have had their ratings upgraded by brokerages, primarily due to strong performance forecasts for the first half of the year [9]. - Notable upgrades include: - Miaokelando's rating raised from "Neutral" to "Buy" based on a projected net profit of 120 million to 145 million yuan, reflecting a year-on-year increase of 56.29% to 88.86% [10]. - Shanhai Environmental's rating upgraded from "Hold" to "Buy" due to a turnaround in profitability and increased demand for its products [10]. - Morning Light Bio's rating raised to "Strongly Recommend" based on exceeding profit expectations and leading positions in various product categories [10]. Market Outlook - Analysts generally expect the market to rise in the second half of the year, with a potential breakthrough of the high point from October 8 of the previous year [12][13]. - Key investment themes include domestic consumption, technological self-reliance, and high-dividend stocks, with a focus on sectors such as AI, robotics, semiconductor supply chains, and defense [12]. - The average price-to-earnings ratio of the Shanghai Composite Index and the ChiNext Index is at a median level over the past three years, suggesting a favorable environment for medium to long-term investments [14].