Shengyuan Environmental Protection Co., Ltd.

Company Profile

1. Project Technology and Sustainable Innovation Advantages The company actively aligns the technical level of project equipment with the latest industry technologies and holds a number of invention patents and utility model patents. The company's municipal solid waste incineration power generation projects adopt internationally prevailing, mature and advanced mechanical grate furnace technology. Putian Shengyuan Waste Incineration Power Plant was recognized as a Key Environmental Protection Practical Technology Demonstration Project** by the China Association of Environmental Protection Industry in 2018 and included in the **National Catalog of Advanced Pollution Prevention and Control Technologies** by the Ministry of Ecology and Environment in 2020. The Quanzhou Shengze-Baozhou Project was awarded the title of Key Environmental Protection Practical Technology Demonstration Project by the China Association of Environmental Protection Industry in 2019. During the reporting period, the core technological progress was reflected in intelligent upgrading. The company vigorously promoted the application of AI intelligent combustion technology, which achieved successful pilot operation in Zhangzhou Shengyuan and Wenshang Shengyuan, realizing cost reduction and efficiency improvement. As of the end of March 2026, the company had completed the bidding for the AI intelligent combustion control system covering all its 27 production lines, marking a crucial step forward in the digitalization and intelligent operation of the company. This will continuously boost power generation efficiency and reduce operating costs, serving as a core measure to adapt to the refined operation trend of the industry. 2. Advantages of Rich Project Construction and Operation Experience The company boasts mature operation experience covering 13 waste incineration power plants, 5 domestic sewage treatment projects and 1 domestic landfill leachate treatment project. During the reporting period, this advantage is reflected not only in the stable operation of all projects, with each plant maintaining full-year safe and environmentally compliant operation and making important contributions to local environmental governance, but also in the in-depth value exploration of existing assets. For instance, the company has elevated the resource utilization level of waste incineration slag to the forefront of the industry. Through technological upgrading and repricing, the average disposal unit price of slag has been increased, transforming existing assets into a significant profit growth driver and directly driving the company's performance during the reporting period. # 3. Outstanding Brand and Project Quality Advantages With over a decade of in-depth cultivation and accumulation, the company has gradually built up brand advantages in the professional treatment of urban solid and liquid waste. Relying on mature and advanced technologies as well as sound and stable project operation and management, the company owns multiple national AAA-level municipal solid waste incineration plants, and has obtained numerous honors including Key Environmental Protection Practical Technology Demonstration Project, China Solid Waste Industry Most Socially Responsible Investment and Operation Enterprise, and Outstanding Environmental Protection Brand Enterprise. In industry evaluations, the company’s operated waste power plants and sewage treatment plants have repeatedly obtained Grade I or Excellent ratings. Among them, the Phase III project of Putian Shengyuan won the **China Construction Engineering Luban Prize**, representing the highest construction and operation standards in the industry. During the reporting period, the company's brand value continued to gain recognition from the market and professional institutions. These high-quality benchmark projects have laid a solid foundation for the company to gain the trust of local governments in expanding new businesses such as steam and heat supply. 4. Advantages of Stable Professional Management Team and Strategic Execution Capability The company's core management team has long been engaged in the investment, construction and operation management of municipal solid waste incineration power generation and domestic sewage treatment projects. It possesses in-depth and unique insights into China's relevant market and forward-looking strategic vision for industry development trends, with rich experience accumulated in market expansion and operating cost control. Meanwhile, the company has established a complete and rigorous set of control standards for project selection, implementation and operation. It can fully assess project risks and returns based on project scale, technical requirements, specific customer needs, project financing sources, projected internal rate of return, project payback period and other indicators, so as to ensure the efficient utilization of corporate resources. During the reporting period, the management team successfully implemented the strategic transformation from "scale expansion" to "equal emphasis on quality and efficiency". It accurately grasped key development priorities including the expansion of steam and heat supply business, revaluation of slag value, and intelligent renovation, and steadily advanced the layout of emerging industries such as taurine and hydrogen energy, demonstrating forward-looking strategic planning and solid implementation capability.