Hunan Junxin（301109.SZ）: Re-Files for HKEX Listing for the Third Time; Ranks First in China by Average Grid Electricity per Tonne of Waste Incinerated in 2025

NewTimeSpace News: On 13 August 2026, Hunan Junxin Environmental Protection Co., Ltd.（301109.SZ）submitted a listing application to the Main Board of the Stock Exchange of Hong Kong, with CICC and CITIC SEC acting as joint sponsors. The Company provides professional solutions for comprehensive waste treatment and resource utilization, including the investment, management and operation of green energy projects. According to Frost & Sullivan, by project scale, measured primarily by designed waste treatment capacity, the Changsha Environmental Protection Industrial Park, where the Company's principal operations are located, is one of the largest comprehensive environmental protection parks in China.

The Company's core businesses include clean waste incineration for power generation, comprehensive treatment of various wastes (sludge, sewage and leachate, fly ash and others), transfer, compression and transportation of municipal solid waste, and the collection, harmless treatment and resource utilization of food waste. In incineration for power generation, the Company operates the Changsha waste incineration projects (Phase I and II), the Liuyang project, the Pingjiang project and the Bishkek project (Phase I). For the years ended 31 December 2023, 2024 and 2025, these projects processed a total of 3.2, 3.2 and 3.8 million tonnes of municipal solid waste respectively, generating 1.5, 1.5 and 1.8 billion kWh of grid electricity, with efficiency improving from 452 to 486 kWh per tonne of waste. As of the latest practicable date, the aggregate daily treatment capacity of its clean waste incineration projects reached 10,600 tonnes of municipal solid waste. According to Frost & Sullivan, by average grid electricity per tonne of waste, the Company ranked first in China in 2025 among all companies providing waste incineration for power generation.

In comprehensive waste treatment, besides incineration projects, the Changsha Environmental Protection Industrial Park hosts projects for sludge, leachate, fly ash and other wastes, with aggregate daily treatment capacity of 2,700 tonnes of leachate, 1,000 tonnes of sludge and 215 tonnes of fly ash as of the latest practicable date; the Liuyang fly ash treatment project commenced operation in May 2026 with a daily capacity of 42 tonnes of solidified products from chelation and stabilization of fly ash. Through the acquisition of Renhe in November 2024, the Company expanded its capabilities to cover most of the waste management value chain: the Changsha transfer project has an aggregate daily treatment capacity of 10,000 tonnes of municipal solid waste, while the Changsha food waste project has a daily capacity of 1,200 tonnes, with an oil extraction rate exceeding 7%, producing 30,000 tonnes of industrial-grade mixed oil annually.

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