Investment Rating - Maintains an "Overweight" rating [1][3] Core Views - The company is the leading water treatment industry player in China with the largest capacity scale [1] - The sewage and water supply businesses are growing steadily, with increasing volumes and prices [1] - Capital expenditure is entering a downward cycle, improving cash flow and supporting stable high dividends [1] - The company is expected to undergo a revaluation due to its high dividend characteristics [1] Financial Performance - 2023 revenue reached RMB 24.519 billion, a 14% year-on-year increase [1] - 2023 net profit attributable to shareholders was RMB 1.896 billion, a 60% year-on-year increase [1] - The company changed its financial reporting currency from HKD to RMB starting from January 1, 2023 [1] - The consolidated gross margin in 2023 was 36.7%, a 2.7 percentage point decrease compared to the previous year, mainly due to the consolidation of Beijing Enterprises Urban Resources Group [1] Business Operations - Total water treatment capacity reached 43.96 million tons/day by the end of 2023, including 24.86 million tons/day for sewage, 14.33 million tons/day for water supply, 4.47 million tons/day for recycled water, and 0.30 million tons/day for seawater desalination [1] - In 2023, the company treated 6.03 billion tons of sewage and recycled water, a 4% year-on-year increase [1] - The average contract price for sewage treatment in mainland China was RMB 1.49/ton in 2023, compared to RMB 1.47/ton in 2022 [1] - Water supply volume reached 2.31 billion tons, a 4% year-on-year increase, with an average contract price of RMB 2.15/ton in mainland China, compared to RMB 2.13/ton in 2022 [1] - Capital expenditure in 2023 was RMB 6.83 billion, slightly higher than the RMB 6.30 billion in 2022, mainly due to the recovery from the impact of the pandemic on water plant construction in 2022 [1] Dividend Policy - The total dividend for 2023 was RMB 1.42 billion, a 1.68% year-on-year increase, with a cash dividend payout ratio of 75% [1] - The company has maintained a stable annual dividend of approximately HKD 1.58 billion for three consecutive years from 2021 to 2023 [1] - The static dividend yield for 2023 was 8.83%, highlighting the company's high dividend characteristics [1] Financial Forecasts - The forecasted net profits for 2024-2026 are adjusted to RMB 1.966 billion (-10%), RMB 2.040 billion (-12%), and RMB 2.150 billion, respectively [1] - The corresponding EPS for 2024-2026 are RMB 0.20, RMB 0.20, and RMB 0.21, respectively [1]

Financial Performance - For the year ended December 31, 2023, the profit attributable to shareholders increased by 60% to RMB 1,895,700,000 from RMB 1,181,400,000 in the previous year[3]. - EBITDA for the year was RMB 8,931,300,000, a 25% increase from RMB 7,158,200,000 last year[3]. - The total revenue for the year was RMB 24,519,374,000, up from RMB 21,484,840,000, representing a growth of approximately 9.5%[4]. - The basic and diluted earnings per share for the year were RMB 18.24 and RMB 18.21, respectively, compared to RMB 11.33 and RMB 11.31 in the previous year[4]. - The company reported a net profit of RMB 3,064,327,000 for the year, compared to RMB 2,335,171,000 in the previous year[5]. - The company reported a pre-tax profit of RMB 4,028,439,000 for the year ended December 31, 2023, compared to RMB 3,265,457,000 for the year ended December 31, 2022[25][32]. - The company's net profit attributable to shareholders for 2023 was RMB 1,895,681,000, a significant increase of 60.5% compared to RMB 1,181,430,000 in 2022[35]. - The total proposed final dividend for 2023 is RMB 1,419,586,000, slightly up from RMB 1,396,137,000 in 2022, maintaining the same per share dividend of 8.7 HKD cents[33]. Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 165,493,193,000, an increase from RMB 161,751,644,000 in the previous year[7]. - The company’s total non-current assets increased to RMB 125,108,357,000 from RMB 120,756,110,000 year-on-year[7]. - As of December 31, 2023, total equity reached RMB 54,133,475,000, an increase of 3.7% from RMB 52,207,300,000 in 2022[8]. - Non-current liabilities totaled RMB 68,861,047,000, up 6.1% from RMB 64,892,125,000 in the previous year[8]. - Current liabilities decreased to RMB 42,498,671,000, down 4.8% from RMB 44,652,219,000 in 2022[8]. - Total liabilities amounted to RMB 111,359,718,000, reflecting a 1.7% increase from RMB 109,544,344,000 in 2022[8]. - The company reported a net current liability of RMB 2,000,000,000 and capital commitments of approximately RMB 18,100,000,000 as of December 31, 2023[9]. - The company’s total borrowings rose to RMB 74,244,700,000 in 2023 from RMB 72,243,900,000 in 2022, reflecting an increase of approximately 2.8%[117]. Revenue Breakdown - The total operating revenue for the year ended December 31, 2023, was RMB 24,519,374,000, representing an increase of 14.5% compared to RMB 21,484,840,000 for the year ended December 31, 2022[25][27]. - Revenue from wastewater and recycled water treatment services was RMB 8,643,409,000 for the year ended December 31, 2023, compared to RMB 8,491,352,000 in the previous year[29]. - The company’s revenue from mainland China was RMB 23,159,277,000, up from RMB 20,155,038,000 in the previous year[27]. - The revenue from urban resource services surged by 131% to RMB 5,057.6 million in 2023, compared to RMB 2,184.9 million in 2022[57]. - The company’s total revenue from technical services and equipment sales decreased by 16% to RMB 2,459.1 million in 2023[57]. Expenses and Costs - The financial expenses for the year ended December 31, 2023, totaled RMB 3,260,857,000, an increase from RMB 2,745,678,000 in the previous year[31]. - The total sales cost for the year ended December 31, 2023, was RMB 15,518,621,000, compared to RMB 13,024,158,000 in the previous year[25][26]. - Management expenses increased to RMB 3,317,400,000 from RMB 2,973,300,000, primarily due to the consolidation of North Control Urban Resources[92]. - Other expenses, including headquarters costs and financial expenses, totaled RMB 3,260,900,000[51]. Cash Flow and Investments - The cash and cash equivalents decreased to RMB 10,215,161,000 from RMB 11,584,201,000 year-on-year[7]. - The company reported a total tax expense of RMB 964,112,000 for 2023, compared to RMB 930,286,000 in 2022, reflecting an increase of 3.6%[33]. - The total capital expenditure for the year amounted to RMB 6,834,800,000, an increase from RMB 6,299,400,000 as of December 31, 2022[119]. - The company issued perpetual capital instruments amounting to RMB 2,000,000,000 during the year, contributing to the increase in equity instruments[110]. Strategic Developments - The company has integrated the concept of "Future New Water Services" into its strategic development, focusing on sustainable innovation and technology[120]. - The company plans to continue expanding its market presence and developing new technologies in the water treatment sector[48]. - The company aims to lead asset-light transformation through a "Technology Development Platform" in 2024[122]. - The company plans to distribute a final dividend of HKD 0.087 per share, pending approval at the annual general meeting on June 5, 2024[129]. Corporate Governance - The company has adhered to all corporate governance codes as per the listing rules for the year ending December 31, 2023[132]. - The audit committee, composed of three independent non-executive directors, has reviewed and approved the financial results for the year ending December 31, 2023[134].

（於百慕達註冊成立之有限公司） （股份代號：371） 中期 報告 2023 目錄 | 2 | 公司資料 | | --- | --- | | 3 | 集團架構 | | 4 | 主席報告 | | 8 | 管理層討論及分析 | | 32 | 簡明綜合損益表 | | 33 | 簡明綜合全面收益表 | | 34 | 簡明綜合財務狀況表 | | 36 | 簡明綜合權益變動表 | | 38 | 簡明綜合現金流量表 | | 40 | 簡明綜合財務資料附註 | | 68 | 須予披露之資料 | | 81 | 企業管治 | 目錄 公司資料 董事會 執行董事 熊 斌先生 （主席） 姜新浩先生 周 敏先生 （行政總裁） 李海楓先生 柯 儉先生 沙 寧女士 董渙樟先生 李 力先生 非執行董事 王殿常先生 獨立非執行董事 佘俊樂先生 郭 銳先生 周安達源先生 戴曉虎先生 審核委員會 佘俊樂先生 （主席） 郭 銳先生 提名委員會 熊 斌先生 （主席） 郭 銳先生 薪酬委員會 郭 銳先生 （主席） 董渙樟先生 可持續發展委員會 網站 www.bewg.net 註冊辦事處 李 力先生 （主席） 董渙樟先生 郭 銳先生 公司秘書 董渙樟先生 核 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） 371 （股份代號： ） 截至二零二三年六月三十日止六個月之 中期業績公佈 摘要 • 截至二零二三年六月三十日止六個月，本公司股東應佔溢利較上一期間之 694,000,000 124% 1,556,500,000 港元增加 至 港元。 • 5,373,800,000 3,811,800,000 除息稅折舊攤銷前溢利為 港元，較上一期間之 港元 41% 增加 。 • 15.31 15.28 期內每股基本及攤薄盈利分別為 港仙及 港仙。 • 7.0 截至二零二三年六月三十日止六個月，本集團建議派發中期股息每股 港 46% ...

Financial Performance - For the year ended December 31, 2022, the total design capacity reached 44,287,093 tons/day, with operating revenue of HKD 24,982,372,000, a decrease of 10% year-on-year [7]. - The net profit attributable to shareholders was HKD 1,374,151,000, representing a year-on-year decrease of 67%, with basic earnings per share of HKD 0.1318 [7]. - The company's profit attributable to shareholders decreased by 67% to HKD 1,374,200,000 due to a 10% decline in revenue from water environment governance construction services, totaling HKD 24,982,400,000 [17]. - The company reported a total revenue of HKD 27,880.1 million for the year, with a profit of HKD 8,321.5 million [22]. - The total revenue from the company's main business segments was HKD 24,982.4 million, a decrease of 10% from HKD 27,880.1 million in 2021 [27]. - The company expressed gratitude to shareholders, customers, employees, and partners for their continued support [16]. Revenue Sources - Revenue from wastewater and reclaimed water treatment services in mainland China grew by over 20% [7]. - Revenue from wastewater and reclaimed water treatment services in China reached HKD 9,388.3 million, contributing 38% to total revenue, with a gross margin of 57% [18]. - The overseas wastewater treatment services generated revenue of HKD 4,229.7 million, with a gross margin of 57% [18]. - The construction of BOT water projects contributed HKD 4,626.1 million in revenue, with an 18% gross margin [19]. - Revenue from comprehensive governance projects decreased by HKD 1,612,500,000 to HKD 1,458,900,000, compared to HKD 3,071,400,000 last year [41]. - Revenue from BOT water projects was HKD 4,626,100,000, a significant decline from HKD 9,533,200,000 in the previous year, with attributable profit decreasing to HKD 617,300,000 from HKD 1,191,800,000 [43]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and cash flow while promoting a light asset transformation [6]. - The company is focusing on strategic clarity, integrating municipal wastewater, water supply, reclaimed water, and sludge business as part of its asset acquisition strategy [7]. - The company aims to enhance operational efficiency and achieve high-quality, sustainable development, aligning with the national "3060" dual carbon strategy [16]. - The company plans to leverage technology and model innovation to create new growth points in business [16]. - The group established 58 regional companies and organizations to enhance customer service and trust, achieving a new signed water volume of 3,414,442 tons per day [9]. - The group is cultivating new growth points in its business through multi-track development strategies [7]. Environmental and Social Responsibility - The environmental industry is expected to experience high-quality growth, aligning with the "14th Five-Year Plan" and carbon neutrality goals [7]. - The company emphasizes social responsibility by ensuring personnel and production safety, maintaining stable water supply standards [7]. - The company is committed to becoming a trusted, leading global water environment service provider [16]. Governance and Board Structure - The board consists of a diverse group of members, including executive, non-executive, and independent directors, ensuring a range of expertise and governance [75]. - The board aims to avoid a single-gender composition and has appointed a female executive director since January 3, 2020 [85]. - The board's diversity policy was adopted in 2013 to enhance governance and maintain competitive advantage [84]. - The company has established a succession plan for the board, regularly reviewing and discussing it to identify suitable candidates with diverse skills [88]. - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the company's financial statements and overseeing risk management and internal controls [92]. Risk Management - The company has adopted a risk management framework based on the "three lines of defense" model, which includes business units, risk management department, and audit department [102]. - The risk management department identified potential risks affecting financial, operational, and compliance objectives, including regulatory and market competition risks [104]. - The board of directors is responsible for assessing the nature and extent of risks faced by the group and ensuring effective risk management and internal control systems [100]. Shareholder Engagement - The company is committed to regular communication with shareholders through various channels, including interim and annual reports, and investor meetings [113]. - The company encourages shareholder proposals at annual or special meetings, requiring proper notice to be submitted within specified timeframes [112]. - The board believes that effective investor relations play a crucial role in creating shareholder value, enhancing company transparency, and building market confidence [114]. Future Outlook and Growth Initiatives - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of 12% to 15% [128]. - New product development initiatives are underway, with an investment of 5 million allocated for research and development in innovative water management technologies [128]. - The company plans to expand its market presence by entering three new regional markets by the end of 2023 [128]. - A strategic acquisition is in progress, targeting a company with an estimated value of 20 million, expected to enhance operational capabilities [128]. - The management team emphasized the importance of sustainability, aiming for a 25% reduction in carbon emissions by 2025 [128].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） 371 （股份代號： ） 截至二零二二年十二月三十一日止年度之 末期業績 及 建議修訂公司細則 摘要 • 截至二零二二年十二月三十一日止年度，本公司股東應佔溢利減少至 1,374,200,000 (1) 港元，主要由於： 視作出售一間聯營公司山高新能源集團有 1,091,000,000 限公司（前稱「北控清潔能源集團有限公司」）之虧損 港元（分類為 其他經營費用）（去年：無）。視作出售虧損乃一次性，屬非現金性質，對本集 (2) 團之現金流概無任何影響； 本集團已停止於水環境綜合治理項目之投資。 此外，多個建造項目及其相關業務於年內僅能維持有限度運作。故此，水環 境治理建造服務純利減少。 • ...

Financial Performance - For the six months ended June 30, 2022, the company achieved operating revenue of HKD 10,645,900,000, a decrease of 22% year-on-year[13]. - The net profit attributable to shareholders for the same period was HKD 694,000,000, representing a 71% decrease compared to the previous year[13]. - The company's profit attributable to shareholders decreased by 71% to HKD 694 million, primarily due to a 22% decline in revenue from water environment governance projects, totaling HKD 10,645.9 million[23]. - The company reported a total revenue of HKD 10,645.9 million, with a gross profit of HKD 3,808.7 million, resulting in a gross margin of approximately 36%[25]. - The company reported a total revenue of 4,105,500,000 HKD for the six months ended June 30, 2022, compared to 4,887,425,000 HKD for the same period in the previous year, representing a decrease of approximately 15.9%[96]. - The net loss attributable to shareholders for the period was 1,232,569,000 HKD, compared to a net profit of 670,580,000 HKD in the prior year, indicating a significant decline in profitability[96]. - The company’s total liabilities increased to 22,996,420,000 HKD as of June 30, 2022, compared to 21,868,213,000 HKD at the end of the previous year, indicating a rise of about 5.1%[96]. Dividends and Earnings - The company declared an interim cash dividend of HKD 0.07 per share to reward shareholders for their continued support[13]. - Basic earnings per share decreased to HKD 6.64 from HKD 24.01, while diluted earnings per share fell to HKD 6.61 from HKD 23.83[86]. - The interim cash dividend declared was HKD 0.07 per share, totaling approximately HKD 709,508,000, compared to HKD 0.09 per share and HKD 908,982,000 in the previous year[148]. Revenue Breakdown - Revenue from wastewater and reclaimed water treatment services in China was HKD 4,704 million, contributing 44% to total revenue, with a gross margin of 60%[24]. - The construction of integrated governance projects generated revenue of HKD 819.3 million, accounting for 8% of total revenue, with a gross margin of 17%[25]. - The revenue from water environment governance technology services and equipment sales was HKD 1,089.8 million, with a gross margin of 40%[27]. - Revenue from integrated governance project construction services decreased from HKD 1,494,900,000 to HKD 819,300,000, a drop of HKD 675,600,000[54]. Capacity and Projects - The total design capacity increased by 496,516 tons per day, bringing the total design capacity to 45,382,478 tons per day[13]. - New signed water treatment projects during the period included a wastewater treatment project in Baise City with a new signed water volume of 1,467,480 tons per day[13]. - The total design capacity of wastewater treatment facilities in mainland China is 17,997,460 tons per day, an increase from 16,831,055 tons per day last year, representing a growth of approximately 7%[41]. - The total designed capacity of new projects during the period was 1,467,480 tons per day, including BOT projects with a capacity of 815,000 tons per day[36]. Operational Efficiency and Strategy - The company is focusing on digital strategies and has successfully launched the "BEAOA" technology, the first of its kind for large-scale engineering applications in China[18]. - The company is committed to enhancing operational efficiency and customer satisfaction by implementing a customer-centric organizational structure[15]. - The company is actively exploring new businesses such as sludge disposal and industrial water treatment, in line with the national "3060" dual carbon goals[20]. - The company aims to enhance its digital transformation and operational management capabilities to improve service quality and strengthen its brand image[20]. Financial Management - The company has improved cash flow management and successfully issued its first medium-term note of the year at a record low interest rate[18]. - The company reported a significant increase in user engagement metrics, with a notable rise in active users compared to the previous reporting period[97]. - The company is investing in new technologies to improve operational capabilities and customer experience, with a focus on sustainability initiatives[97]. Assets and Liabilities - The total assets as of June 30, 2022, amounted to HKD 190,076,907, an increase from HKD 183,623,186 at the end of 2021[94]. - The total liabilities increased to HKD 127,085,987 from HKD 120,074,432, reflecting a rise in both current and non-current liabilities[94]. - The total receivables from contract customers, service concession arrangements, and accounts receivable amounted to HKD 121.1 billion, an increase from HKD 119.6 billion at the end of the previous year[71]. Employee and Management - The total number of employees as of June 30, 2022, was 71,246, including 50,436 from the merged subsidiary[82]. - Total compensation paid to key management personnel amounted to HKD 13,220,000 for the six months ended June 30, 2022, a slight decrease from HKD 13,467,000 in the same period of 2021[198]. Strategic Acquisitions - The group completed the acquisition of 70% equity in a wastewater treatment company in China for a total cash consideration of HKD 333,048[173]. - The group is expanding its business through strategic acquisitions aimed at enhancing its operational capabilities in relevant sectors[173]. Market Outlook - The company plans to focus on market expansion and new product development to drive future growth[87]. - The company has set a performance guidance for the next quarter, aiming for a revenue growth of approximately 10% year-over-year[97].

Financial Performance - The company recorded a revenue of HKD 27,880,100,000 for the year, representing a year-on-year increase of 9.9%[9]. - The net profit attributable to shareholders was HKD 4,195,900,000, reflecting a slight increase of 0.3% compared to the previous year[9]. - The basic earnings per share for the year were HKD 0.4142[9]. - The company's revenue increased by 10% to HKD 27,880,100,000, driven by growth in water treatment services[16]. - The profit attributable to shareholders rose to HKD 4,195,900,000, reflecting a strong performance in the water treatment segment[16]. - The gross profit margin for water treatment services was reported at 40%, with a significant contribution from both domestic and overseas operations[17]. - The total operating income from wastewater and reclaimed water treatment services in China reached HKD 7,674.1 million, a 30% increase compared to the previous year[26]. - The gross profit margin for wastewater treatment services was reported at 58%, while the gross profit margin for water supply services was 48%[26]. - The company's total revenue for the year was HKD 11,214.2 million, with a net profit attributable to shareholders of HKD 4,778.2 million, reflecting a significant increase in operational performance[34]. - The company reported a significant increase in interest income, which rose to HKD 1,096,965 from HKD 697,401, a growth of 57.43%[173]. - The company's management expenses increased to HKD 3,158,430 from HKD 2,526,199, reflecting a rise of 24.94%[173]. - The total comprehensive income for the year was HKD 6,743,419, down from HKD 9,718,763 in 2020, showing a decrease of 30.49%[174]. Capacity and Operations - The company added a net design capacity of 2,761,226 tons/day, bringing the total design capacity to 44,885,962 tons/day[10]. - The new signed water volume for the year was 3,960,221 tons/day, indicating strong operational delivery capabilities[10]. - The company achieved an additional recycled water capacity of 761,000 tons/day, promoting ecological utilization of wastewater[10]. - The average daily treatment volume was 14,652,604 tons, with an average daily treatment rate of 83%[35]. - The group operates 1,370 water plants and sewage treatment facilities across 20 provinces, 5 autonomous regions, and 4 municipalities in mainland China[29]. - The company operates 121 water supply plants in mainland China with a total design capacity of 9,372,836 tons per day, processing 2,002,000,000 tons and achieving an average contract price of approximately RMB 2.10 per ton[42]. Business Development and Strategy - The company is actively exploring new business growth points in water supply, pipeline networks, and wastewater resource utilization[10]. - The company is expanding its clean energy business, focusing on solar power, wind power, and clean heating services[11]. - The company plans to expand its market presence and invest in new technologies to enhance service offerings[21]. - The group plans to expand into new business areas such as sludge management and urban water services, focusing on customer experience and satisfaction[14]. - The company aims to enhance operational efficiency and achieve sustainable development by leveraging technology and innovative business models[14]. - The company is committed to sustainability and environmental protection, aligning its business strategies with global ecological standards[97]. Financial Position and Investments - The company successfully issued various bonds at historically low interest rates, showcasing its strong financial position in the market[12]. - The company's total equity increased to HKD 63,548,800,000, up from HKD 57,124,000,000 in 2020, indicating a growth of approximately 11.3%[61]. - The debt-to-equity ratio rose to 1.03 from 1.01 in 2020, primarily due to increased bank borrowings[61]. - The group has significant receivables from service concession arrangements, accounts receivable, and other receivables totaling approximately HKD 128.2 billion, representing 69.8% of total assets as of December 31, 2021[166]. - The expected credit loss provision for these receivables amounted to approximately HKD 1.56 billion[166]. - The company has a financial risk management policy detailed in the financial statements, addressing potential risks and uncertainties faced by the group[106]. Corporate Governance - The company has established three committees under the Board of Directors: the Audit Committee, the Nomination Committee, and the Remuneration Committee, to enhance corporate governance practices[76]. - The Audit Committee is responsible for reviewing the company's financial statements and ensuring compliance with corporate governance codes and environmental, social, and governance reporting guidelines[78]. - The board of directors consists of 9 members, including 5 executive directors and 4 independent non-executive directors[64]. - The company has implemented a share award scheme, granting 12,471,409 shares on November 1, 2021, with 140,920 shares unvested as of December 31, 2021[62]. - The company has a structured process for shareholders to propose items at the annual general meeting, requiring a signed notice to be submitted at least 7 days before the meeting[90]. - The company has adhered to all corporate governance code provisions, except for the absence of the chairman at the annual general meeting due to travel restrictions related to COVID-19[91]. Risk Management - The company has established a risk management framework consisting of "three lines of defense" to identify, assess, and monitor risks[84]. - The audit committee reported no significant internal control deficiencies as of December 31, 2021, and believes the risk management system is effective and adequate[86]. - The company has implemented a whistleblowing policy to allow employees and partners to report misconduct confidentially[86]. - The group has adopted revised Hong Kong Financial Reporting Standards for the first time in the current financial year, including HKFRS 9 and HKAS 39[198]. Shareholder Engagement - The company maintained effective communication with shareholders through online meetings and social media, ensuring transparency during the COVID-19 pandemic[91]. - The board believes that effective investor relations play a crucial role in creating shareholder value and enhancing market confidence[91]. - The company allows shareholders to convene a special general meeting upon request if they hold at least 10% of the paid-up capital[89]. Future Outlook - Future outlook indicates a focus on expanding market share and enhancing operational efficiency through new technologies and products[97]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its service offerings[98]. - The company aims to leverage its strong financial position to explore new business opportunities in emerging markets[97].

年報 2020 （於百慕達註冊成立之有限公司） （股份代號：371） 北控水務集團有限公司 2020 年報 （股份代號：371） （於百慕達註冊成立之有限公司） 目錄 | 公司資料 | 02 | | --- | --- | | 集團架構 | 03 | | 主席報告 | 04 | | 管理層討論及分析 | 09 | | 企業管治報告 | 33 | | 董事及高級管理人員 | 50 | | 董事會報告 | 55 | | 獨立核數師報告 | 90 | | 綜合損益表 | 97 | | 綜合全面收益表 | 98 | | 綜合財務狀況表 | 99 | | 綜合權益變動表 | 101 | | 綜合現金流量表 | 103 | | 財務報表附註 | 107 | | 五年財務概要 | 259 | 北控水務集團有限公司 2020年年報 01 目錄 公司資料 董事會 執行董事 李永成先生 （主席） 姜新浩先生 周 敏先生 （行政總裁） 李海楓先生 張鐵夫先生 柯 儉先生 沙 寧女士 董渙樟先生 李 力先生 非執行董事 趙 峰先生 獨立非執行董事 佘俊樂先生 張高波先生 郭 銳先生 王凱軍先生 李文俊博士 審核委員會 佘俊樂先生 （ ...