Fu Chun Environmental protection with local characteristics of waste disposal experts

Zhejiang Fu Chun Jiang Environmental Protection Thermoelectric Co., Ltd. (hereinafter referred to as the Fuchun environmental protection, stock code 002479) today for online purchase and will be landing a a-share market.　　Industry insiders pointed out that the company after the listing, raise funds to invest in waste treatment projects, is conducive to the company's green economy, recycling economic benefits further improved, the project future market prospects better. Fuchun Environmental waste Treatment experts Fuchun Environmental Protection was established in 2003, the company's main business for the garbage generation, cogeneration, the main products are heating steam, electricity. The company built 5 130t/h (steam ton/hour) coal-fired circulating fluidized bed boiler, 2 75t/h (steam ton/hour) circulating fluidized bed incinerator, 2 24.5 MW condensing generator set, 2 12 MW back pressure generator set (hereinafter referred to as "seven furnaces Four Machines") and 1 MW back pressure generator set, Total installed capacity of 88 MW, heating capacity of the average 415t/h (steam ton/hour), daily treatment of rubbish about 800 tons, Hangzhou is the largest environmentally-friendly common type of garbage power generation and cogeneration enterprises. The company is located in "China Whiteboard paper Base" Fuyang Jiangnan paper Industrial zone, mainly assume the Jiangnan paper industrial zone Fuyang Fuchun River-Spring Jiangdong District, Ling Bridge, the large industrial area enterprises and the future industrial areas of new enterprises in the central heating task, and the company through the power of the internet to ease the pressure of the Fuyang　　The company deals with more than 200,000 tons of rubbish, which contributes to the waste disposal of local municipal waste and papermaking industry, and realizes the comprehensive utilization of resources, energy saving and emission reduction, and realizing economic sustainable development. Although in recent years the continuous rise in raw material prices to the power enterprises brought a lot of pressure, but with the company's heating area of the rapid development of papermaking enterprises to increase the demand for heating companies, while the company continuously through energy-saving technology to improve thermoelectric ratio and thermal efficiency, such as various cost control measures to effectively digest the Since its inception, the company's profits have increased year by month.　　June 2008, the company was awarded the "2008 Zhejiang businessmen the most investment value enterprise" title by Zhejiang Business Forum Organizing Committee. Industry insiders pointed out that the Fuchun environmental protection industry is a cogeneration industry. CHP refers to the combination of heating and power generation in the same power plant, referred to as CHP.　　This is an efficient energy production, compared with thermoelectric production, can significantly improve the fuel utilization, is a globally recognized energy conservation, improve the environment, enhance the urban infrastructure function of the important measures, with good economic and social benefits, is to achieve a circular economy, an important technical means. Located in a unique area is known, Fuchun Environmental location advantage of the company is located in Zhejiang province Fuyang, 2009 ranked the national Economy Hundred Counties 29th, paper industry is the first pillar of Fuyang industry, the main production of coated white board, Kraft cardboard paper, cardboard and other paper products. Fuyang paper enterprises mainly focus on the three major papermaking industrial areas of Fuchunjiang, namely, the Spring River Industrial Zone, the great source industrial zone and the Ling Qiao Industrial Zone, with a total area of 32 square kilometers. Spring River Industrial Zone total Planning Area 380.85 hectares, the first phase, the two phase of infrastructure completed, the large-source industrial zone planning total area of 233.33 hectares, the current phase of the West block 100.83 hectares of construction completed, two eastern block has not been launched; Ling Qiao Industrial zone is divided into a, B, c three blocks, planning area is 103.55, 147, 84.90 hectares At present, block A has completed most of the land development, the company's location of the B block development has just started, as of January 2008, 19.25 hectares of land development, and C block has not been developed.　　Jiangnan Paper Park still has more than 1/3 of the land has not been developed, mainly concentrated in the company's Ling Qiao Industrial zone. According to Fuyang, the Fuyang Government will guide and encourage papermaking Enterprises in the industrial park to gather continuously to the park, and Ling Qiao Industrial zone will be the main development area of Fuyang paper industry in the future. As the scale of the park expands, the growing number of enterprises in the park, the company's future heating demand will also continue to increase, the three major paper-making enterprises outside the paper park will gradually until the full concentration of paper-making park, the three main industrial output of Fuyang, Eleven-Five, will maintain an average annual growth rate of 18%, 2010 Fuyang Paper Industrial Park industrial output value will reach 38.7 billion yuan, in 2007, the basis of double.　　According to the "Fuyang Jiangnan paper Enterprise central heating Thermal planning" forecast the region's annual thermal load growth of 6% meters, by 2010 the company's heating load will reach 665t/h (steam ton/hour), and the company's current average heating capacity of only 415t/h (steam ton/hour), far from the region to meet the thermal load of paper enterprises demand. At the same time, Fuchun Environmental Protection Area has the unique advantages of developing circular economy. Fuyang as "China's white board base", the annual output of its white board has occupied half of China's white board for many years. Fuyang paper industry plays an important role in the national paper industry, and it is an important pillar industry in the region. However, due to the particularity of papermaking process, the production process will consume a lot of steam, but also will produce a large number of waste paper residue and papermaking sludge (produced after the treatment of papermaking wastewater). The paper industry has made great contribution to the local economic development, and the large amount of waste paper residue and papermaking sludge produced in the production process have also caused serious influence on the local ecological environment. But these waste paper residue and papermaking sludge is not useless, because these wastes contain a large number of organic fiber components, with a certain amount of heat, the appropriate treatment after the incineration treatment, on the one hand can maximize the part of the waste to achieve "reduction, stability, harmless" treatment, on the other hand, Through the comprehensive recovery of the heat released in the incineration process, and the recovered heat for power generation and the supply of paper production heat needs, so as to achieve the part of the waste "resources, reduction, reuse, harmless" purposes, and truly realize the development goal of circular economy. At present, the company has built operation Garbage incinerator 2 units, day incineration treatment of 800 tons of garbage, through the recovery of garbage incineration released by the heat generated by the energy generation of the annual savings of about 50,000 tons of coal, realThere is considerable recycling economic benefits.　　Next, the company intends to use this fund-raising fund to invest in the construction of sludge incineration resources comprehensive utilization project, further improve the proportion of the company's circular economy.　　Industry insiders pointed out that the Fuchun environmental protection is located in Fuyang Jiangnan paper Industry Park has a unique circular economic development conditions for the company's future sustainable development has brought great advantages. Set management technology Market advantages in a Fuchun environmental protection in the management and technology has a certain advantage. Company management and the main technical backbone has many years of thermal power management work experience, since the company since its inception has been serving the company, and long-term stability, they have accumulated in the field of cogeneration production of rich technical experience and management experience, especially in energy-saving technology and production safety technology has formed its own characteristics advantages, For the company energy-saving emission reduction, production safety has made a great contribution.　　CFB Boiler induced fan High voltage conversion project, was named "2007 Excellent energy-saving demonstration project in Zhejiang province." In the market, Fuchun environmental customers for the Hangzhou Electric Power Bureau and the Jiangnan area of the three paper park in the hot customers.　　As an important economic growth pole in Zhejiang Province, it is expected that during the "Eleven-Five" period, Fuyang GNP will maintain an annual growth rate of 12%, Fuyang the rapid growth of the national economy, especially the industrial economy, which has led to the steady growth of electricity consumption in Fuyang society. Fuchun environmental heating customers mainly for the Fuyang Jiangnan Three industrial Park enterprises, in the overall planning of Fuyang city, paper enterprises have been gradually to the three industrial park cluster. From 2005 to the end of 2009, the three major park enterprises increased yearly, the number of enterprises from 194 to 243, the 2007 ~2009 year of Industrial production of enterprises to achieve annual growth rate of 27.03%, 23.49% and 3.27% respectively,　　With the continuous development of the Fuyang industrial economy and the continuous agglomeration of enterprises outside the park, the number of enterprises in the park will increase continuously, and the company's heating customers will increase continuously. As of December 31, 2009, the company heating within the scope of the thermal enterprise for 200, the company heating customers 185, of which 152 paper enterprises.　　According to incomplete statistics, the company gives the heat of the paper enterprises total annual output capacity of 2 million tons, accounting for Fuyang paper enterprises total capacity of nearly 1/3. Compared with the northern thermoelectric enterprises mainly in the winter, because of the influence of the heating season, the thermal load fluctuation of the northern thermoelectric enterprises is more volatile, which leads to the instability of energy utilization. While the company customers are industrial enterprises in the park, especially the paper-making enterprise customers, Because of its continuous production process characteristics determine its thermal load demand is very stable, which is conducive to continuous and stable operation of the company's equipment, greatly improve the company's comprehensive thermal efficiency. On the other hand, because the thermal users of the northern thermoelectric enterprises are mostly individual users, heat supply is relatively high rate of default, and the company's hot users are enterprise customers, and the company has a regional steam exclusive supply right, access to the company's stable steam supply is the premise of its normal production and operation, the company's heating funds to receive a relatively low rate of default,　　Have a good customer advantage. RaiseCapital to enhance the competitiveness of the company with the rapid development of the Fuyang pillar industry-paper industry, the contradiction between the demand for heat load and the heating capacity of the local thermal power plant is increasingly prominent. As one of the two public thermal power plants in the Fuyang Jiangnan papermaking Industrial Park, the average heating capacity is 415t/h (steam ton/hour), and the thermal load growth rate of the region is about 6% per year according to the thermal planning, and the average thermal load in the company's heating range will reach the 665t/in 2010. H (steam ton/hour) (heating planning speculated number). And according to China's joint engineering Company in June 2008 on the company heating area of the heat load survey results, the company heating area to add hot users and have new heating demand for hot users have 41, the new heating demand average 290t/h (steam ton/hour).　　To the company's existing unit heating capacity has been far from enough to meet the requirements, through the implementation of this project to increase the company's heating capacity, to meet the downstream development of paper enterprises on the growth of the demand for heat load is imperative.　　At the same time, in order to Fuyang the needs of sustainable economic development, environmental protection needs, energy conservation and conservation of resources needs, Fuchun environmental protection, said the company this time to the public to issue 54 million shares, to raise funds in place, will be all put into the "sludge incineration resources comprehensive utilization project."　　Fuchun environmental Protection said that the fund-raising investment project is expected to invest 394.83 million yuan, if the raise funds than the above projects required total investment, the excess of the fund-raising will be used to supplement the company's liquidity; if the actual raise funds did not meet the project requirements, the insufficient part of the company will be self-financing solution. It is understood that the collection of capital investment projects after the completion of production, will enable the company to meet the resource utilization unit conditions of the boiler from the current 2 to 4 units, accounting for the total number of boilers from the current 29% to 50%; the boiler evaporation capacity of the resource Comprehensive Utilization Unit is 150t/h (steam ton/　　Hours) to 442t/h (steam ton/hour), the proportion of the total evaporation of the company's boiler from the current 19% increase to 46%. At the same time, raise capital investment project has good profit prospect. According to the feasibility analysis of the project, the company's heating capacity will be expanded from current 415t/h (steam ton/hour) to 630t/h (steam ton/hour), new heating capacity 215t/h (steam ton/hour), and installed capacity from the current 88 MW to 108 MW.　　In accordance with the annual utilization of 6,000 estimated, the company on average annual sales revenue of 336.01 million yuan, add a pre-tax profit of 75.62 million yuan. Industry insiders pointed out that the company's listing, the collection of funds to invest in waste treatment projects, conducive to the company's green economy, recycling economic benefits further improve. The future market prospects of the project is better, the new operating profit after the project has been put into operation can cover the new depreciation expense, and will not increase the depreciation expense after the capital investment project has been put into production and the future operation of the companyPerformance adversely affected. At the same time, after the collection of funds in place, the company's net assets will increase substantially, the rate of asset-liability decline, can further optimize the company's asset and liability structure, reduce financial risk, improve the company's financial situation, which will further enhance the company's follow-up continued financing capacity and risk-resistant ability.