JAHB(SH:603822) Sou Hu Wang·2025-05-07 00:47Group 1: Core Insights - The global aviation industry is accelerating towards "net-zero emissions," with Sustainable Aviation Fuel (SAF) becoming a key focus for countries [1][3] - On May 6, 2025, Jiaao Environmental Protection announced the successful market sale of its first batch of bio-jet fuel, totaling approximately 13,400 tons, marking a significant breakthrough in the biomass energy sector [1][5] - Jiaao Environmental Protection is the first company in China to obtain an export license for bio-jet fuel, establishing a precedent for domestic bio-jet fuel exports and positioning itself in the global aviation emission reduction market [1][2] Group 2: Policy and Market Opportunities - The Ministry of Commerce and other departments have approved that Lianyungang Jiaao can apply for export licenses within a production capacity of 372,400 tons of bio-jet fuel by 2025, marking the first use of a "white list" mechanism for bio-jet fuel exports in China [2] - The policy breakthrough aligns with China's low-carbon transition strategy in the aviation sector, with SAF application pilot programs launched at four major airports starting September 2023 [2][3] - The acquisition of export qualifications is seen as a recognition of the company's technological capabilities and is expected to accelerate the shift of China's SAF industry from policy-driven to market-driven [2] Group 3: Technological and International Standards - Bio-jet fuel, derived from waste oils through advanced processes, is recognized for its dual value in resource recycling and carbon reduction, making it a core component of the aviation industry's "dual carbon" goals [3] - Jiaao Environmental Protection received the Technical Standard Approval from the Civil Aviation Administration of China in March 2025, allowing its bio-jet fuel products to enter the domestic aviation market [4] - The company has also obtained EU ISCC and DDC certifications, positioning it as one of the few Chinese enterprises meeting international sustainable standards, facilitating access to overseas markets [4] Group 4: Future Growth Potential - With the dual breakthroughs in airworthiness and international certifications, Jiaao Environmental Protection has established a leading position in China's aviation emission reduction sector [5] - The combination of policy support, technological barriers, and globalization efforts is expected to propel the company from a regional leader to an international green energy supplier [5] - The initial export of 13,400 tons of bio-jet fuel is just the beginning, and as the company's production capacity increases, its movements in the global aviation carbon reduction landscape will be closely monitored [5]