Chunhui Energy's IPO on the Shanghai Stock Exchange has been terminated. The company provides integrated solid waste disposal services for garbage, sludge, and biomass.

On August 29th, Zhejiang Chunhui Environmental Protection Energy Co., Ltd. (referred to as Chunhui Energy) had its IPO review status on the Shanghai Stock Exchange changed to termination. This was due to Chunhui Energy and its sponsor withdrawing the application for listing. According to relevant provisions of the "Shanghai Stock Exchange Rules for the Review of Stock Issuance and Listing" Article 63, the IPO review was terminated. The prospectus shows that Chunhui Energy is a company that integrates the disposal of solid wastes such as garbage, sludge, and biomass for renewable resource utilization, producing and supplying clean energy through cogeneration of heat and power. The main service provided by Chunhui Energy is the comprehensive disposal of solid wastes such as garbage, sludge, and biomass, with the main products being heat (supplied in the form of steam, hereafter referred to as steam as a specific product) and electricity. Based on the premise of solid waste disposal, Chunhui Energy utilizes incinerators and heat recovery boilers for heat recovery, and produces heat and electricity simultaneously through a "heat-based power generation" method. Since its establishment in 2004, Chunhui Energy has been based in the national Hangzhou Bay Shangyu Economic and Technological Development Zone, focusing on the utilization of solid waste resources, accumulating rich management experience and technological expertise, creating significant social, economic, and environmental benefits. The company continuously expands the scope of renewable resource utilization, from household waste to sludge, further extending to biomass and industrial waste, gradually building core competitiveness in the comprehensive utilization of various types of renewable resources and the disposal of various types of solid wastes. Since its establishment, Chunhui Energy has rooted itself in the physical realm, practiced diligently, focused on its main business, and become one of the earlier enterprises in China to enter the field of solid waste cogeneration. It has developed comprehensive disposal capabilities for various types of solid waste such as garbage, sludge, and biomass, and has the ability to provide comprehensive services for "zero waste city" construction. The company's business covers solid waste in the living sector, the industrial sector, and the forestry sector, thus achieving comprehensive disposal of the entire solid waste industry chain. The company has accumulated rich experience in the industry, with a relatively complete technological and talent reserve, and has made active contributions to promoting regional economic and social development, protecting and improving the regional ecological environment, promoting energy conservation, emission reduction, and carbon reduction, improving the investment environment, achieving a win-win situation for social, economic, and environmental benefits. It is a quality enterprise representing the industry. In terms of performance, in 2020, 2021, and 2022, Chunhui Energy achieved revenues of approximately 330 million, 471 million, and 603 million RMB respectively, with net profits of approximately 168 million, 134 million, and 166 million RMB respectively.