New Stock News | Beijing GeoEnviron Engineering & Technology, Inc. (603588.SH) submits listing application to Hong Kong Stock Exchange, focusing on the recycling of hazardous waste resources.

According to the disclosure of the Hong Kong Stock Exchange on March 27th, Beijing GeoEnviron Engineering & Technology, Inc. (603588.SH) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, and Jianyi International is the sole sponsor. Company Overview The prospectus shows that Beijing GeoEnviron Engineering & Technology, Inc. is a company in China that provides comprehensive product portfolios and a wide range of services in the field of solid waste and hazardous waste resource recycling. The company's product portfolio covers a wide range of metal products, mainly including basic metals, precious metals, and key metals. By 2024, the company has recycled 14 metal elements and sold over 15 products. According to Frost & Sullivan data, based on 2024 revenue, the company ranks third in the Chinese hazardous waste resource recycling market for copper and platinum group metals, with market shares of 9.2% and 6.7% respectively. According to the same data source, based on 2024 revenue, the company ranks first in the Chinese hazardous waste resource recycling market for bismuth and antimony, with market shares of 33.9% and 18.4% respectively. Beijing GeoEnviron Engineering & Technology, Inc. originated from the Institute of High Energy Physics of the Chinese Academy of Sciences and is one of the earliest professional resource recycling service providers in China dedicated to research, transformation of results, and providing solutions for solid waste and hazardous waste pollution control technologies. The company was founded in 1992 and, after more than 30 years of development, has driven industry transformation and upgrade through technological innovation, forming three core business segments: resource recycling, environmental operation services, and environmental engineering services. The Resource Recycling Division focuses on metal resource recycling, which involves extracting valuable elemental resources from solid waste or hazardous waste through physical or chemical processes and processing them into saleable products to achieve resource recycling. The company's main metal products include electrolytic copper, electrolytic lead, refined bismuth, antimony oxide, gold ingots, silver ingots, platinum group metals, and nickel-based products. In addition, the company's Resource Recycling Division also involves non-metal resource recycling, with non-metal products mainly sourced from the recycling of waste plastics and waste rubber tires. The Environmental Operation Services Division mainly operates waste incineration power generation projects, where the company uses incineration to convert urban municipal solid waste into heat energy and produce slag as a by-product. The generated heat energy can be used for power generation and steam production, while the slag can be further used as construction materials, achieving resource recycling. Additionally, this division also involves the harmless disposal of solid waste and hazardous waste, aimed at reducing the volume and toxicity of waste through incineration and landfill methods, ultimately eliminating its pollution. The company's environmental projects mainly operate under concession models, including Build-Operate-Transfer (BOT) or Transfer-Operate-Transfer (TOT). The Environmental Engineering Services Division undertakes environmental engineering projects such as landfill construction, soil and groundwater remediation, wastewater treatment, organic waste treatment, and smoke treatment, providing customers with efficient and sustainable environmental management and pollution control solutions to help them achieve environmental compliance, improve environmental quality, and contribute to building a green and sustainable future. Financial Data Revenue: For the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 10.58 billion, RMB 14.50 billion, and RMB 14.732 billion respectively. Profit: For the fiscal years 2023, 2024, and 2025, the company recorded annual profits of approximately RMB 508 million, RMB 543 million, and RMB 1.04 billion respectively. Gross Profit Margin: For the fiscal years 2023, 2024, and 2025, the company's gross profit margins were 17.6%, 13.7%, and 18.2% respectively. Industry Overview Market Size of China's Solid Waste and Hazardous Waste Resource Recycling Market Supported by policies such as the "Zero Waste City" pilot expansion and the strengthening of the Extended Producer Responsibility (EPR) system, the market for solid waste and hazardous waste resource recycling in China has significantly grown over the past five years, increasing from RMB 1.5974 trillion in 2020 to RMB 2.1479 trillion in 2024, with a compound annual growth rate of 7.7%. Looking ahead, due to continued structural optimization and technological innovation, the market size of China's solid waste and hazardous waste resource recycling is expected to grow from RMB 2.4146 trillion in 2025 to RMB 3.5043 trillion in 2029, with a compound annual growth rate of 9.8%. The market size of China's metal resource recycling market has increased from RMB 1.1689 trillion in 2020 to RMB 1.5462 trillion in 2024, with a compound annual growth rate of 7.2%, mainly benefiting from the implementation of national strategies for green development and strategic resource security. In the future, the market structure will be dominated by innovation-driven high-quality development and integrated supply and demand. The market size of China's metal resource recycling market is expected to reach RMB 2.6539 trillion by 2029, with a compound annual growth rate of 10.6% from 2025 to 2029. The market size of China's non-metal resource recycling market is mainly driven by the urgent momentum to build national recycling infrastructure and catalyzed by top-level strategies such as the "dual carbon" goal and the ban on waste imports. The market size has increased from RMB 391.4 billion in 2020 to RMB 546.1 billion in 2024, with a compound annual growth rate of 8.7%. Looking ahead, market drivers are shifting towards promoting high-quality, technology-intensive, and economically integrated growth. The market size of China's non-metal resource recycling market is expected to reach RMB 762.7 billion in 2029, with a compound annual growth rate of 7.3% from 2025 to 2029. Supported by policies promoting the zeroing out of municipal solid waste landfills and the construction of basic disposal capacity, the market size of China's waste incineration power generation has significantly increased from RMB 37.1 billion in 2020 to RMB 55.6 billion in 2024, with a compound annual growth rate of 10.6%. Looking ahead, the market landscape will focus on efficient operation and technological upgrades to enhance power generation efficiency and diversify fuel sources. The market size of China's waste incineration power generation is expected to reach RMB 87.8 billion by 2029, with a compound annual growth rate of 6.9% from 2025 to 2029. Market Size of China's Metal Resource Recycling Market According to the types of metals, metal resources can be divided into basic metals, precious metals, and other metals. Basic metals primarily include iron, manganese, copper, aluminum, lead, zinc, tin, nickel, and antimony, occupying the largest share of the metal resource recycling market. This is mainly driven by the national imperative to reduce reliance on imported ores, combined with the need to achieve active "dual carbon" goals, making energy-efficient recycling a strategic necessity. The market size of China's basic metal resource recycling market has increased from RMB 828.9 billion in 2020 to RMB 940.8 billion in 2024, with a compound annual growth rate of 3.2%. With the promotion of structural optimization, technological innovation, and industrial integration, the market size is expected to increase from RMB 989.2 billion in 2025 to RMB 1.276.9 billion in 2029, with a compound annual growth rate of 6.6% from 2025 to 2029. Precious metals, including gold, silver, and platinum group metals, are the second-largest category in China's metal resource recycling market. The market size has increased from RMB 151.7 billion in 2020 to RMB 301.0 billion in 2024, with a compound annual growth rate of 18.7%. Future growth in this area will be amplified by the rapid development of high-tech industries and the demand for high-purity materials, combined with advanced technology breakthroughs for efficient extraction from new waste resources, ensuring maximum value recycling and supply chain security in a competitive global market. The market size of the precious metal resource recycling market is expected to increase from RMB 454.0 billion in 2025 to RMB 927.0 billion in 2029, with a compound annual growth rate of 19.5%. In the precious metals category, the market size of platinum group metals has increased from RMB 4.6 billion in 2020 to RMB 8.4 billion in 2024, with a compound annual growth rate of 16.6%, and is expected to reach RMB 23.2 billion by 2029, with a compound annual growth rate of 23.3% from 2025 to 2029. Other metals include bismuth, lithium, tungsten, cobalt, etc. The rapid development of the domestic new energy vehicles and renewable energy industries has created an urgent demand for various metals and products (such as batteries and motors) end-of-life solutions. Looking ahead, the focus will be on establishing a secure domestic closed-loop supply chain for critical materials to reduce geopolitical and price volatility risks. The market size of the other metal resource recycling market has increased from RMB 188.3 billion in 2020 to RMB 304.3 billion in 2024, with a compound annual growth rate of 12.7%, and is expected to reach RMB 449.9 billion by 2029, with a compound annual growth rate of 8.2% from 2025 to 2029. In the category of other metals, the market size of bismuth recycling has increased from RMB 0.3 billion in 2020 to RMB 1.1 billion in 2024, with a compound annual growth rate of 34.9%, and is expected to reach RMB 4.1 billion by 2029, with a compound annual growth rate of 19.2% from 2025 to 2029. Global Market Size of Solid Waste and Hazardous Waste Resource Recycling From 2020 to 2024, the global market size of solid waste and hazardous waste resource recycling was primarily driven by increasingly stringent and evolving regulatory frameworks and significant corporate sustainability commitments, such as the adoption of EPR regulations in the EU and North America. The global market size of solid waste and hazardous waste resource recycling has increased from RMB 50.867 trillion in 2020 to RMB 61.893 trillion in 2024, with a compound annual growth rate of 5.0%. Looking ahead, the market DRIVE is shifting from compliance to achieving economic and environmental benefits through deep technical integration and circular economy principles. The global market size of solid waste and hazardous waste resource recycling is expected to reach RMB 91.223 trillion by 2029, with a compound annual growth rate of 8.1% from 2024 to 2029. Metal resource recycling accounts for the largest share of the global market for solid waste and hazardous waste resource recycling, recording stable growth over the past five years, driven by global policies promoting national resource security and collective energy transformation. The market size has increased from RMB 34.950 trillion in 2020 to RMB 43.069 trillion in 2024, with a compound annual growth rate of 5.4%. Driven by continued supply chain optimization and structural integration, the global market size of metal resource recycling is expected to reach RMB 68.357 trillion by 2029, with a compound annual growth rate of 9.7% from 2024 to 2029. The global market for non-metal resource recycling is mainly driven by the increasingly upgraded global policy framework aimed at decoupling economic growth from the use of raw materials and corporate commitments to reduce carbon footprints. The market size has increased from RMB 14.567 trillion in 2020 to RMB 17.135 trillion in 2024, with a compound annual growth rate of 4.1%. Market dynamics are expected to shift from basic collection towards creating high-value secondary raw materials that meet strict quality standards. The global market size of non-metal resource recycling is expected to reach RMB 20.685 trillion by 2029, with a compound annual growth rate of 3.8% from 2024 to 2029. To address the increasing management of urban solid waste and the urgent need to reduce reliance on landfills, countries worldwide are directing capital investment towards upgrading waste incineration power generation facilities and decarbonizing industrial operations. The global market size of waste incineration power generation has increased from RMB 135.0 billion in 2020 to RMB 168.9 billion in 2024, with a compound annual growth rate of 5.8%. The market size is expected to reach RMB 218.1 billion by 2029, with a compound annual growth rate of 5.3% from 2024 to 2029. Board Information The Board of Directors will consist of ten directors, including six executive directors and four independent non-executive directors. The Board is responsible for and has general authority to manage and operate the business. Directors' terms are three years with the option of reelection. However, according to relevant Chinese laws and regulations, the tenure of independent non-executive directors should not exceed six years consecutively. Equity Structure As of March 22, 2026, Mr. Li holds approximately 16.33% of the company's issued share capital, making him the single largest shareholder of the company. Intermediary Team Sole Sponsor: Jianyi International Finance Co., Ltd. Legal advisor for the company: Hong Kong law: Lobo Partners Law Office LLP; Chinese law: Zhong Lun Law Firm Legal advisor for the sole sponsor: Hong Kong law: Jia Yuan Law Firm; Chinese law: Jia Yuan Law Firm Reporting Accountants: Tianjian International Certified Public Accountants Co., Ltd. Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch