PYHB(300664)2024-11-25 20:52Group 1: Project Overview - The strategic cooperation agreement was signed on March 3, 2023, between the government of Panjin City and Pengyao Environmental Protection Co., Ltd. to establish a subsidiary for bioenergy production with an investment of 120 million yuan [2][3] - The project aims to produce second-generation biodiesel and bio-jet fuel products that meet EU standards using waste biological oils as raw materials [3] Group 2: Production Timeline and Efficiency - The SAF (Sustainable Aviation Fuel) facility completed upgrades in early August 2024, with trial production starting on August 21, 2024, and qualified SAF output achieved on September 3, 2024 [5] - The overall product yield is 82%, with SAF yield at 55%, HVO (Hydrotreated Vegetable Oil) yield at 14%, and bio-light oil yield at 13% [5] Group 3: Raw Materials and Production Costs - The main raw material is UCO (Used Cooking Oil), sourced from collection points in surrounding provinces, with processing costs ranging from 1,500 to 3,000 yuan per ton [5] Group 4: Sales Channels and Market Strategy - The primary sales channel targets the EU market, with orders influenced by market prices, primarily directed towards European traders [6] - The company has not yet begun the airworthiness certification process but plans to initiate it soon [6] Group 5: Future Plans and Capacity Upgrades - The biodiesel project is a key part of the company's strategic planning, with future development dependent on market prices for second-generation biodiesel and SAF [6] - Under the dual carbon target market environment, the company aims to establish a complete supply chain from raw material procurement to production processes and sales channels while ensuring stable operations and capacity planning [6]