Unlocking Green For All

Times are changing,but the pursuit of green remains the same. However,the way to achieve green must evolve.

GrandBlue's new logo presents the corporate image of "a green innovation enabler".

Design Concept

The graphic is inspired by the initial letters "GB" of the company name "GRANDBLUE".The shape that extends outward continues the green concept of "infinite recycling" of resources, reflecting the industry characteristics,while also embodying the power to break boundaries,demonstrating the innovative vitality of the enterprise and the brand spirit of "Always Advancing, Never Stopping".The overall design highlights the characteristics of the enterprise such as technology,professionalism, and progress.The color selection mainly adopts blue-green tones, with technology blue as the base and ecological green as the highlight.This emphasizes the preciousness of green. It implies that technology blue can achieve ecological green, showcasing the persistent pursuit of the grandblue people for green ecology.

Tech Blue - Symbolizing the continuous breakthroughs in innovation capabilities,like the deep sea, it harbors infinite possibilities;

Eco Green - Symbolizing the sustainable development of ecological wisdom,likea forest,it nurtures eternal vitality.

Overall Meaning

By promoting innovation to achieve green development, this symbolizes embodies grandblue‘s brand value proposition of“Unlocking Green For All”,expresses the brand spirit of “Always Advancing,Never Stopping”,and demonstrates the infinite pursuit of the mission of“Realizing Harmony between Humanity and Nature."

Unlocking Green For All

Where humanity and nature intertwine,guided by the wisdom of the earth,life flourishes in an endless cycle of growth.
A green future springs from a profound reverence for nature,and is forged through an unyielding pursuit of innovation.
Today,we stand at the vital crossroads of ecology and development. How do we reconcile
boundless demand with finite resources? How do we make both green living and thriving progress truly accessible? We believe a transformative solution is not just needed,but essential.

Grandblue : The Catalyst for Green Innovation, The Pioneer of Green Value. We believe that innovation is the singular path to making green truly accessible. Our innovation transcends mere technological iteration; it is a bold,boundary-breaking re-imagining of green industries.Our innovation is not isolated environmental stewardship; it is the vibrant co-creation of value, rooted in the philosophy of open symbiosis.

We promise to be driven by innovation and linked by cooperation :

To empower cities with efficient resource utilization,allowing green to become the vibrant new canvas for urban development.
To energize industries with low-carbon transformation and upgrading, enabling green to become the dynamic new force for enterprise growth.
To safeguard a clean and beautiful future for our homeland,letting green paint a magnificent new tapestry of harmonious coexistence.

Table of Contents

01 02 Strategy-Led Innovative Environment Corporate Development Treatment & Operation Models

03 Innovative Technology Conversion Capabilities

04 Innovative Integrated Solutions

05 Innovative Collaborative Participation Systems

06 Innovative Cross-Industry Empowerment Mechanism

Strategy-Led Corporate Development

Mission-Driven
Strategy-Led
Innovation-Driven Breakthroughs

Company Profile

Grandblue Environment Co., Ltd. (Stock Code: 600323.SH)

Top 10 Environmental Enterprises in China Top l0 Most Influential Enterprises in Solid Waste Treatment in China

Solid Waste Energy Water Treatment Services Operating across 20 provinces, autonomous regions, and municipalities, 53 prefecture-level cities,and 78 counties throughout China International presencein Southeast Asia Domestic waste incineration power generation (design capacity)97,590 tons/day Serving over 110 million residents Among the Top domestic waste incineration power generation nationwide No.1 among A-share listed companies

History

Over the past two decades since being listed, Grandblue has steadily evolved from a local municipal utility provider into a leading national provider of comprehensive environmental services.

Each milestone reflects Grandblue's unwavering commitment to ecological stewardship,its efforts to solidify operational foundations, expand industry reach,and its proactive pursuit of green development.

2000

Listed on the Shanghai Stock Exchange,initially focused on water supply business as its core business

2011

2004 Expanded into the sewage treatment sector

2006

Entered the solid wastetreatment sector through strategic mergers and acquisitions

Entered the energy supply sectorvia targeted acquisitions

2014

Scaled solid wastetreatment operations nationwide through mergers, acquisitions, and restructuring

2023

Expanded internationally, entering overseas marketsthrough mergers and acquisitions

2025

Ranked among the Top 3 domestic
Waste to Energy enterprises in
China, achieved through
sustained industry
consolidation and
innovation

Brand Culture

Mission Realizing Harmony between Humanity and Nature

Vision Powering Green Innovation

Slogan
Unlocking Green For All
Spirit
Always Advancing, Never Stopping

Core Values

Three‘Good' and Three‘Sharing'

Good city steward

ecological protection scientificand standardizedapproaches high-quality and efficient services

Good industry model

leading model setting standards for the industry technologicalinnovation setting benchmarks

Good community neighbor

openand honest
neighborlyandbeneficial
harmonious and win-win sharing success

Sharing of wealth

provide opportunities for career growth share development successes focus on strivers recognize and reward hard work

Sharing of capabilities

createan environmentempowering employees
improvecapabilities
enhance individual skills
realizeprofessionalvalue

Sharing of values

adhere to Grandblue's core principles
offer meaningful work
practice the Grandblue mission
elevate thevalueof life

Grandblue Employees with Five Qualities

Aggressiveness

continuous growth,courage to break through barriers,continuous innovation

Responsibility

Altruism

diligent and accountable courage to take on responsibility solve problems engageanddevelopothers achieve mutual assistance and win-win situations with colleagues,customers and partners

Reverence

Integrity

respect for life,nature,and rules focus on the bottom line,take the right path

honest and trustworthy fair and just

Company Honors

>>> C

Top 10 Environmental Enterprises in China Top 10 Most Influential Enterprises in Solid Waste Treatment in China Top 10 Waste Incineration Power Generation Enterprises in China, Most Valuable Investment Award among Listed Companies_,

China Digital Innovation Pioneer Award \blacktriangleright Asian Corporate Social Responsibility Award \blacktriangleright Special Contribution Award for Corporate Governance \blacktriangleright Twenty National “AAA-Level” Domestic Waste Incineration Power Generation Plants \blacktriangleright Top 10 Environmental Protection Facility Public Access Institutions in China \blacktriangleright Featured in Business Climate Action Cases at the United Nations Climate Change Conference Recognized as a Global Ecological Restoration and Protection Model by the United Nations \blacktriangleright Included in the First Batch of Carbon Neutrality and Carbon Peaking Pilot Projects in Guangdong Province \blacktriangleright Ranked in the Top 10 of the Top 100 ESG Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area \blacktriangleright 5A-Level Water Supply Organization by the China Water Supply Service Promotion Alliance \blacktriangleright Named Most Responsible Enterprise in China’s Water Industry

Innovative Environment Treatment & Operation Models

Minimizing Comprehensive Social Costs Maximizing Green Value

Green Circular Industry Chain

Grandblue integrates the principles of green development into every facet of its operations-establishing a greencircularindustrychainspaningsolidwastetreatment,energywatersupplyanddrainage.Thisceates a scalable and replicable circular industrial system，helping cities build sustainable，low-carbon,and resource-efficient urban ecosystems.

前 Sver2Oyereatnet

5

Energy over30years

Water Supply over40years

Drainage over20years

Vertical and Horizontal Integrated Grandblue Model” for Multi- Source Solid Waste Collaborative Governance

Aligned with the national goal of building“Waste-free Cities,” Grandblue has developed a vertically and horizontally integrated solution for solid waste management known as the “Grandblue Model."

This comprehensive framework encompasses a complete industry chain that includes:
Front-end: Inteligent municipal management through “Great Municipal” stewardship services. Midstream: Efficient waste handling via “Great Diversion”+ “Disaggregated Classification” collection and transfer
Back-end: Comprehensive and collaborative treatment and resource recovery from multi-source solid waste.

The “Grandblue Model” is designed to minimize total social costs while maximizing social and environmental value.

Minimizing total social costs

Lower operational costs,reduce pollutant emissions and carbon footprint, reduce government burden in terms of safety and stability assessment, streamline regulatory oversight,and minimize land use for waste infrastructure

Maximizing social green value

Enhance solid waste resource recovery and energy utilization,improve safety and efficiency in collection,transfer and treatment,and raise public environmental awareness and participation

Collaborative Integration of“Great Municipal Urban Environmental Sanitation Service Industry Chain

Full Chain Management System and Business Platform

Front-end:

Addresses common challenges such as fragmented oversight, scattered subcontracting,short contract cycles,and unclear accountability. Optimizes management efficiency while reducing financial expenditure.

: Midstream and back-end:

Leverages the strengths of existing public utility infrastructure to enhance coordinationandmaximize resourceutilization.

forminga front-end urban waste management

Among the Top 3 in China forDomestic Waste Incineration Power Generation

Grandblue delivers high-quality solid waste treatment services across 20 provinces,autonomous regions, and municipalities including: Guangdong，Fujian， Hubei， Hunan，Hebei, Liaoning，Guizhou, Jiangxi, Heilongjiang,Shandong,Shanxi, Anhui,Inner Mongolia, Zhejiang,Sichuan, Yunnan, Jiangsu,Guangxi, Shanghai,and Hong Kong,covering 53 prefecture-level cities and 78 counties,and serving apopulation of over110 milion. Internationally， Grandblue also holds equity in multiple waste incineration power generation projects in Bangkok, Thailand,with a combined capacity of 3,300 tons/day.

domestic waste incineration power generation (designed capacity) 97590 tons/day

domesticwasteincineration power generation(operating capacity) 80240 tons/day

number of domestic incineration power generation projects
60

wastecompressionandtransfer 9115tons/day

kitchen waste,grease, andfecalwastetreatment 4444 tons/day

agricultural waste treatment 1049 tons/day

industrialhazardouswaste treatment 225500 tons/year sludge treatment 1400 tons/day bulkwaste treatment 100 tons/day medicalwaste treatment domestic waste sanitary landfill capacity 2.04 million m²

30 tons/day slag resource utilization 550000 tons/year

Transforming from Resource Utilization and Productization to Green Revenue Generation

Grandblue has evolved its waste management strategy to generate high-value green products, maximizing both environmental and economic returns through sustainable resource conversion.

Diversified Comprehensive Energy Services Centered on Urban Gas

Grandblue has established a strong foundation in clean energy operations,developing a diversified energy supply system that includes pipeline natural gas, LNG trading,liquefied petroleum gas, and hydrogen energy. This integrated approach delivers green momentum to regional industrial trans

pipeline natural gas service customers 600000 households

annual natural gas supply

natural gas pipeline network length 2750 kilometers

1 billion m²

liquefied petroleum gassupply 36000 tons/year

hydrogen refueling stationoperated 5stations

hydrogen production fromkitchenwaste 2200 tons/year

Pioneering a 'solid waste + energy zero-carbon model

Grandblue is advancing a new modelfor urban zero-carbon development through the collborative integration of solid waste and clean energy operations.This innovative framework connects hydrogen “production, refueling,and application.”This integrated model enables a potential carbon reduction of nearly1 million tons,underscoring Grandblue's commitment to green innovation and urban sustainability.

hydrogen production

generated from biogas extracted from kitchen waste

End-to-end Water Service Chain: From Water Intake to Direct Drinking Water

Grandblue has built a comprehensive water supply industry chain, covering every stage from water intake,water production,and water transmission to direct drinking water services to end users.The company actively promotes smart water infrastructure, ensuring eficient resource utilization， safe distribution, and a stable, high-quality water supply for both urban and rural populations.

total daily water supply capacity 1.7 million m³ water supply pipenetwork 4774 kilometers industry-leadingwater loss rate (supply-production difference) 6.41% water supply customers

daily capacity of a single water plant 1.38million m² drinking water testing capability 192items

1.2milion households

Smart empowerment, serving thousands of households

Benchmarking against China's top-tier standards, Grandblue has achieved refined and intelligent management across the entire water supply chain,from intake to distribution.In Nanhai District,Foshan City (Guangdong Province), Grandblue is pioneering a model of high-quality urban water supply,enabling residents to access both“smart water”and “quality water.”

smart operation: delivering“smart water

quality enhancement: delivering“quality water

leveraging digital platforms and intelligent operations, Grandblue supports: 1 million+ user accounts and { 2 , 0 0 0 + } online monitoring points across the pipeline network

these capabilities enhance supply safety and reliability,maintainingsufficientwater volume and stable water pressure

high-quality secondary water supply via smart pump rooms

through its direct drinking water services, Grandblue is elevating water quality standards and driving a transition toward healthier water consumption.

implemented scenarios include: administrative buildings, schools, hospitals, industrial parks,and office complexes.

The “Grandblue Model” for Water Control: Integrated Plant-Network-Source-River Management

Grandblue has developed a professional,full-chain operational model for water governance known as the“Plant-Network-Source-River Integration” approach.This model encompasses the operation of water purification plants， maintenance of rainwater and sewage pipe networks, household drainage management, and pollution discharge control at river outlets. Through flexible models such as BOT (Build-Operate-Transfer), TOT (Transfer-Operate-Transfer),and entrusted operations, Grandblue promotes the eficient circulation of water resources and protects aquatic ecosystem health.

water purification plants

domestic sewage treatment capacity 1.01 milion tons/day

industrialwastewatertreatment capacity 20000tons/day

21plants

agricultural sewage treatmentstations 87 stations

rainwater/sewage/wastewater pipenetworkoperations over 4000 kilometers

pump station and well operations (rainwater/sewage/wastewater) 443 stations

Integrated Control Framework: Plant-Network-Source-River

souron-polition Rainwater Rural sewage Municipal sewage Factorywastewater Source Drainage Management ① management① permit mischgemeoutletcontract ③permit management: Pollutant discharge Initialrainwater treatment Network Management Rainwaterpipesystems Ruralsewagepipenetworks Municipalsewagepenetrksdrlastea (Tanker services) Centralizedtreatmentof Ditch sludge treatment) livestockfarming (Agricultural sewage station management) (Municipal sewage treatment (Industrial wastewater treatment plants) Plant-Level Operations Municipal sludge (. asereses Hazardous sludge treatment water,landscapewater, disposal riverreplenishr RiverSystem Upstream w \~ Natural water bodies: rivers,lakes,and reservoirs \~ w Downstream Management water water Comprehensive management of pollution discharge outlets of rivers Comprehensive construction of the water body perception system ：Comprehensive rectification of the hidden culverts for combined syster Unified intelligent management platform: Grandblue integrates smart water affairs,smart water conservancy and smart environmental protection through its proprietary Smart Drainage Management Platform. Water 1 Systematic water management ） Low-carbon and sustainable development Intelligent Water Governance 4 Human-water co-management Governance Goal-oriented Minimize total social costs “Water affairs super brain” Human oversight as the Philosophy snurce-eneeontonacross Maximizefundiereficingand Iuteprteikawaess fwunersystems managed the full chain reuse simulation and control through empowered, Smart decision-making accountable governance

Innovative Technology Conversion Capabilities

Solve Industry Pain Points to Unlock the Full Potential of Green Development

Robust R&D Innovation Strength

Grandblue has established a full-chain innovation ecosystem built around a “three-tier,four-level" R&D system that spans from research institutions to business divisions and sector-level companies. This structure accelerates the development of new productivity drivers， strengthens core competitiveness,and enables innovation to become the engine of sustainable growth.

“Three-Tier,Four-Level" R&D System

Digital Intelligence Innovation

Grandblue comprehensively integrates cutting-edge digital technologies with environmental services to build a digital intelligence operation and management system. By leveraging big data, the Internet of Things (loT), and artificial intelligence, Grandblue improves the precision and efficiency of urban environmental governance， accelerating the transformation toward green, intelligent, and sustainable cities.

"Information Technology ^ + Business ^ + Management” Trinity Model Comprehensive Digital Intelligence Enables Green Development of Cities

“ Waste-Free City Digital Brain” Enhancing Urban Environmental Governance through Intelligent Integration

smart city butler platform optimizingurban environmental supervision models

Model:Grandblue has developed a comprehensive Smart City Butler Platform that integrates smart sanitation，smart municipal administration，and smart property services.It enables intelligent dispatch and real-time management of personnel,vehicles,equipment,and infrastructure involved in urban environmental operations.

Results:Upgraded urban service supervision models,improved operational efficiency and service quality.

smart collection and transfer system "end-to-end” efficiency in waste management

Model:Powered by Grandblue's proprietary technologiesOmniRoute,a route optimization algorithm,and OmniMap,an industrial-grade mapping engine-this system enables real-time, dynamic route planning for waste collection and transfer.

Results:Enhanced efficiency in waste collection and logistics, real-time emergency response capability,refined data-driven operations,enables transparent government oversight and public supervision.

"Industrial Brain” for waste incineration elevating automation and operational precision

Model:Combines traditional incineration control logic with advanced Al-driven predictive models and flame video recognition technology，replacing manual-intensive systems withrefined,intelligentautomation.

Results:Enhanced automation in boiler combustion control, increased power generation efficiency,reduced consumption of environmental protection materials, and lower manual operation intensity and human error.

Smart Drainage Management Platform Upgrading Modern Water Governance

A nationally leading,all-factor smart drainage platform,built on loT,cloud computing,big data,and Al technologies.It offers complete integration of regional drainage data and real-time visualization of the“Plant-Network-Source-River”system on a single platform.Enhanced water ecological environment management, strengthened effectiveness ofurban water pollution control, consolidated governance capabilities.

Real-time Online Hydraulic Model Transforming Pipeline Operation and Maintenance

Built on digital twin technology, this model processes over 5 million real-time monitoring data points daily and more than 58 data items per second,delivering loo million simulation outputs to inform intelligent decision-making.Accurate early-warning monitoring and emergency response,optimized plant-network scheduling，lowered production-to-sales variance,conserved water resources,and stable and reliable water supply forurban residents.

Innovative Integrated Solutions

Making Green Development Accessible to Every City,Enterprise,and Individual

Flexible，Customizable，and On-Demand Delivery Capabilities

Municipal Solutions

Deliver the “Grandblue Model” of multi-source solid waste collaborative governance, covering the entire lifecycle from source to terminal, with scalable implementation across multiple cities.
Provide full-chain services for planning, construction, operation,and management of water-related infrastructure.

Park Solutions

Provide comprehensive environmental protection services,including consulting, trusteeship,and operation across all phases, from planning and construction to project introduction and long-term operation.Serve as an environmental partner to industrial parks by delivering integrated green infrastructure and services.

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Enterprise Solutions

Provide complete,full-chain environmental services for enterprises, covering solid and hazardous waste management,energy supply and conservation solutions,carbon reduction management, sewage management,and direct drinking water systems. Deliver customized support from project design and construction to ongoing operation, enabling enterprises to meet environmental compliance and ESG goals effectively.

Innovative Collaborative Participation Systems

Together, We Become Part of a Green Ecosystem

‘Mission-Driven” Sustainable Development Management Model

Grandblue advances sustainability by embedding social responsibility into the core of corporate strategy, forming a unique “mission-driven” management model that integrates sustainable practices into every aspect of operations.

Strategic Integration Operational Integration

Cultural Integration

ldentify critical sustainability breakthroughs by balancing risks and opportunities at each stage ofdevelopment.

Engage with stakeholder expectations and explore new business opportunitiesaligned with sustainability goals.

Instill a strong sense of responsibility in employees and cultivate socially conscious corporatecitizens.