Core Viewpoint - Dechuan Environmental Protection is a leading comprehensive service provider in flue gas treatment in China, with advanced environmental protection technology and rich project experience, demonstrating strong competitiveness in the flue gas treatment sector [1] Group 1: Business Performance - In Q3 2025, Dechuan Environmental Protection reported revenue of 793 million yuan, ranking third among eight companies in the industry, with the industry leader, Yuanda Environmental Protection, generating 2.936 billion yuan [2] - The main business composition includes flue gas treatment engineering at 217 million yuan (44.16%), denitration catalysts at 149 million yuan (30.20%), and desulfurization equipment at 78.61 million yuan (15.97%) [2] - The net profit for the same period was 7.41 million yuan, ranking sixth in the industry, with the industry leader's net profit at 72.84 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Dechuan Environmental Protection's debt-to-asset ratio was 79.63%, higher than the previous year's 76.94% and above the industry average of 56.37% [3] - The gross profit margin for Q3 2025 was 21.27%, lower than the previous year's 23.61% but higher than the industry average of 16.98% [3] Group 3: Shareholder Information - As of June 30, 2025, the number of A-share shareholders decreased by 1.71% to 12,100, while the average number of circulating A-shares held per household increased by 1.74% to 16,800 [5] - By September 30, 2025, two funds, CITIC Prudential Multi-Strategy Mixed (LOF) A and Nu'an Multi-Strategy Mixed A, exited the top ten circulating shareholders list [5] Group 4: Executive Compensation - The chairman, Jin Meng, received a salary of 817,300 yuan in 2024, an increase of 20,600 yuan from 2023 [4] - The general manager, Zhao Bo, earned 759,200 yuan in 2024, up by 25,100 yuan from the previous year [4]

Core Viewpoint - Dechong Environmental experienced a stock price decline of 2.09% on August 22, with a current price of 9.85 CNY per share and a total market capitalization of 2.03 billion CNY [1] Group 1: Stock Performance - Year-to-date, Dechong Environmental's stock price has increased by 34.56%, with a slight increase of 0.10% over the last five trading days, 2.50% over the last 20 days, and 15.47% over the last 60 days [2] - As of August 22, the stock had a trading volume of 15.47 million CNY and a turnover rate of 0.76% [1] Group 2: Financial Metrics - For the first quarter of 2025, Dechong Environmental reported a revenue of 220 million CNY, representing a year-on-year decrease of 1.98% [3] - The company has distributed a total of 48.65 million CNY in dividends since its A-share listing, with 8.25 million CNY distributed over the last three years [3] Group 3: Shareholder Information - As of March 31, 2025, Dechong Environmental had 12,300 shareholders, an increase of 8.90% from the previous period, with an average of 16,547 shares held per shareholder, down by 8.17% [3] - CITIC Prudential Multi-Strategy Mixed Fund (LOF) A is the sixth largest circulating shareholder, holding 1.43 million shares, an increase of 299,000 shares from the previous period [3] Group 4: Company Overview - Dechong Environmental, established on September 6, 2005, and listed on February 7, 2017, specializes in flue gas treatment products and services [3] - The company operates within the environmental protection industry, specifically in air pollution control, and is associated with concepts such as micro-cap stocks, energy conservation, and solid waste treatment [3]