PYHB(300664)2025-01-09 07:52Group 1: SAF Sales and Production - Pengyao Environmental has signed a sales contract with a subsidiary of China National Petroleum Corporation for nearly 5,000 tons of SAF, marking its first sale in the bio-jet fuel sector [2] - The production and sales of SAF are adjusted based on market prices, with a comprehensive sales and procurement plan [2] Group 2: Pricing Mechanism - The sales pricing mechanism considers market prices and production costs, ensuring that the sales price is not lower than the raw material procurement cost and actual production cost while maintaining a certain gross margin [2] - Factors influencing pricing include market supply and demand trends, customer cooperation duration, and alignment with the company's 3-5 year strategic development plan [2] Group 3: Profit Forecasts - The profit forecast for the biodiesel segment in 2025 is based on market prices and SAF production capacity utilization, with a positive outlook for the SAF market in 2025 [3] - The EU's ReFuelEU aviation regulation mandates that by 2025, all flights departing from EU airports must use a blend of 2% SAF, aiming for 70% by 2050, with global SAF demand projected at 6 million tons in 2025 and 20 million tons in 2030 [3] Group 4: Business Outlook for 2024 - The environmental industry is facing pressure due to slower-than-expected macroeconomic recovery, impacting revenue and profits [3] - Despite industry challenges, Pengyao Environmental expects stable growth in its main business for 2024, driven by effective management and cost control measures [3]