New Stock News | Junxin Co., Ltd. submits application to Hong Kong Stock Exchange, core businesses include waste cleaning, incineration, and power generation

According to the Hong Kong Stock Exchange's disclosure on August 13, Hunan Junxin Environmental Protection Co., Ltd. (301109.SZ) (hereinafter referred to as "Junxin") has submitted an application to list on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation and CITIC Securities as joint sponsors. According to the prospectus, Junxin is an industry-leading company that provides comprehensive waste treatment and resource utilization solutions, including investment, management, and operation of green environmental energy projects. According to data from Frost & Sullivan, the Changsha Environmental Industry Park, where the company's main business operations are located, is one of the largest comprehensive environmental parks in China in terms of project scale. As of the last feasible date, it covers multiple projects, including those related to waste clean incineration power generation and comprehensive treatment of various wastes. During the track record period, the company's core businesses include (i) waste clean incineration power generation; (ii) comprehensive treatment of various wastes (including sludge, wastewater and leachate, fly ash, and others); (iii) transfer processing, compression, and transportation of municipal solid waste; and (iv) collection, harmless treatment, and resource utilization of kitchen waste. As part of its overseas strategic expansion, Junxin has been establishing operations in Central Asia. In 2024, Junxin signed a service concession agreement with local authorities in Kyrgyzstan to develop green environmental energy projects in the capital city of Bishkek. In 2025, Junxin also signed a framework agreement to develop similar projects in Osh City and Issyk-Kul Region of Kyrgyzstan. In the same year, Junxin expanded its business scope in Central Asia by signing a memorandum of understanding to develop similar projects in Almaty, Kazakhstan. In terms of market competition, according to Frost & Sullivan's data, in 2024, Junxin's Changsha waste incineration power generation project ranked fourth in daily processing capacity among all solid waste incineration projects nationwide, and ranked first in average electricity generation per ton of waste among all waste incineration power generation companies in China. Junxin's Changsha transfer project also ranked first among all waste transfer processing and transportation projects nationwide, while the Changsha kitchen waste project ranked third in daily processing capacity among all kitchen waste treatment projects nationwide. In terms of financials, for the three months ended March 31 in 2022, 2023, 2024, and 2025, Junxin recorded revenues of approximately RMB 1.548 billion, RMB 1.837 billion, RMB 2.411 billion, and RMB 697 million, respectively, with profits of approximately RMB 587 million, RMB 653 million, RMB 686 million, and RMB 236 million during the same periods. ![eb9728dc6a0c30756abf1618d216fb3.png](https://img.zhitongcaijing.com/image/20250814/1755125224543458.png? According to the risk factors section of Junxin's prospectus, during the historical performance period, Junxin benefited from several preferential tax treatments, which helped improve its financial condition. If there are any changes or termination of the preferential tax treatments currently enjoyed by Junxin, it will lead to an increase in tax expenses