On the evening of December 26, Shengyuan Environmental Protection announced that the private placement product subscribed to with idle funds of 60 million yuan by its wholly-owned subsidiary, Xiamen Jinling Ji Construction Engineering Co., Ltd. (referred to as "Xiamen Jinling Ji"), has suffered significant losses. As of December 25, the net asset value per fund unit was only 0.1846 yuan, with a total loss of 46.92 million yuan, representing a loss rate of 81.54%. The loss amount has exceeded 10% of the company's audited net profit for the most recent fiscal year.

Shengyuan Environmental Protection stated that although the company has taken multiple measures to recover, there may still be risks that some investment principal cannot be recovered. This loss may have a significant impact on the company's operating performance for 2025.

The announcement shows that this investment began between February and March 2025. Xiamen Jinling Ji, as a single investor, signed a fund contract and supplementary agreement with private fund manager Shenzhen Shenboxin Investment Management Co., Ltd. and fund custodian China Merchants Securities Co., Ltd., to subscribe to the "Shenbo Hongtu Growth No. 1 Private Securities Investment Fund" with idle self-owned funds of 60 million yuan. The product is rated R4 (medium-high risk), with an investment scope covering equity (stock), fixed income (debt), futures, and derivatives, and can participate in margin financing, securities lending, and other businesses.

According to the fund contract, the product has multiple risk control measures: the proportion of investment in a single asset does not exceed 25% of the fund's net assets; the fund manager is required to disclose the net asset value of fund shares monthly, and quarterly disclose the fund's asset net value, key financial indicators, and investment portfolio, among other information; in the event of reaching the fund's stop