CN Energy Group. Inc. (CNEY), a manufacturer of wood-based activated carbon and biomass electricity producer in the Chemicals - Specialty industry, demonstrates a halal core business with no non-permissible revenue streams. However, elevated debt levels at 52.37% of market capitalization result in failure across major Shariah financial screening criteria, leading to exclusion from Islamic indices. Minor interest income requires 0.47% purification. Overall, the company is non-compliant but shows potential for future alignment through debt reduction. ESG factors are low risk, with positive environmental contributions from sustainable products.