Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 82

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 82
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299,560KWh |     |     |          | (84.5 | )% |     |                  $ |     0.05 |     |    $ |     0.06 |     | $          | (0.01 | ) |
| Technical services   |     |                     |          - |     |      |    129,177 |     |            | n/a |     |              | n/a |     |              | n/a |     |          |   n/a |    |     |                    |      n/a |     |      |      n/a |     |            |   n/a |   |
| Total                |     |                   $ | 57,899,096 |     |    $ | 40,205,586 |     |            |     |     |              |     |     |              |     |     |          |       |    |     |                    |          |     |      |          |     |            |       |   |

Activated carbon

Revenue from activated carbon for the fiscal year ended September 30, 2023 increased by $18.0 million, or 45.0%, to $57.9 million from $39.9 million for fiscal year 2022. The increase was mainly attributable to the higher sales volume in fiscal year 2023. The operating entities sold 40,251 tons of activated carbon in fiscal year 2023, representing an increase of 11,340 tons, or 39.2%, compared with 28,911 tons in fiscal year 2022. This increase in sales volume contributed $16.3 million to our revenue increase in 2023. Historically, the operating entities focused on producing zinc chloride carbon for the pharmaceutical industry and phosphoric acid carbon for the food industry. In 2023, they expanded into developing and producing activated carbon for sewage treatment, and gas activated carbon for treatment at garbage incineration power plants. Activated carbon for sewage treatment can be used for urban drinking water, advanced purification of urban drinking water, removal of residual chlorine, and deodorization. During the fiscal year ended September 30, 2023, over 50% of the market demand for the operating entities’ activated carbon originated from sewage treatment and the treatment of garbage incineration power plant gas (specifically dioxin).

Due to the fact that the operating entities only started producing activated carbon in the fourth quarter of 2023, in order to stabilize the market size