Niutech Environment Technology Corp

Hengyu Environmental Protection announced plans to change its Chinese company name from Jinan Hengyu Environmental Protection Technology Company Limited to Shandong Hengyu Technology Group Company Limited, and its stock short name from Hengyu Environmental Protection to Hengyu Technology, while the stock code remains unchanged. The company stated that its business model upgrade over the past three years has further strengthened its technology attributes and expanded its scale. The original name, confined to a single environmental protection track, no longer reflects the company's group-level operating structure spanning the entire industrial chain, across regions, and with diversified business formats. The company's main business is the research, development, manufacturing, and sales of high-end equipment for industrial continuous thermal cracking and pyrolysis. In recent years, through measures such as mergers and acquisitions and new industrial projects, it has expanded across four niche sectors: high-end equipment manufacturing, waste tire resource recovery, oily sludge treatment, and high-end new materials from tailings. It has built a group organizational structure where subsidiaries operate independently with specialization, while the parent company coordinates investment and management. At the same time, the company plans to change its business scope by adding general items such as technical services, technology development, research and development of resource recycling technologies, research and development of new material technologies, solid waste treatment, and sludge treatment equipment manufacturing. This aims to smooth the cyclical fluctuations of standalone equipment sales and strengthen the risk resistance of the entire industrial chain. The above changes are still subject to approval by the shareholders' meeting, and the stock short name change also requires approval from the Shanghai Stock Exchange.