Core Viewpoint - Huicheng Environmental Protection (300779) successfully passed the performance assessment of its 200,000 tons/year mixed waste plastic resource utilization project, which is expected to enhance operational stability and capacity utilization by the end of 2026 [1] Group 1: Project Performance - The project was assessed on December 29, 2025, after a 72-hour operational data validation [1] - The facility is currently operating stably, indicating successful initial performance [1] Group 2: Future Plans - The company is actively working to increase the load rate of the facility [1] - A test for adjusting the raw material feeding method is planned to commence by the end of January 2026, aiming to gradually achieve the designed capacity [1] - There are currently no plans for modifications to the facility [1]

Group 1 - The company has successfully completed the third phase of long-term stable operation testing for its 200,000 tons/year mixed waste plastic resource utilization demonstration project, meeting expected operational goals [1] - The technological transformation will lay a foundation for subsequent equipment calibration and efficient stable operation, providing important demonstration experience for promoting the green and high-quality development of the waste plastic circular economy industry [1] - The construction of the hydrogenation unit is progressing steadily as planned, with commissioning expected to begin in early 2026 [1] Group 2 - An investor inquired about the reasons for advancing the technological transformation from the original plan during the Spring Festival to November, and whether the hydrogenation and PSA units would require downtime [3] - The investor also asked if the company would be able to quickly reach full production status after the technological transformation and if the facility could operate at 120% capacity once the upgrades are completed [3]

Core Insights - The world's first 200,000 tons/year mixed waste plastic resource utilization demonstration project has successfully commenced trial production in Jieyang, Guangdong, marking a significant milestone in the industrialization of waste plastic high-value and harmless utilization [1] Group 1: Project Overview - The project utilizes a globally pioneering deep catalytic cracking technology for mixed waste plastics, enabling the direct conversion of low-value mixed waste plastics into high-value chemical raw materials [1] - This innovative technology is expected to process 50 million tons of waste plastics, significantly reducing carbon dioxide emissions by 250 million tons compared to traditional methods of producing chemical raw materials from crude oil [1] Group 2: Environmental Impact - The project can replace 10 million tons of crude oil, contributing positively to the reduction of fossil energy reliance and promoting green low-carbon circular development [1]