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].