股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新疆天業節水灌溉股份有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 317,121,560 RMB | | | 1 RMB | | 317,121,560 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 317,121,560 RMB | | | 1 RMB | | 317,121,560 | | 2. 股份分類 | 普通股 | 股份類別 ...

新疆天業節水灌溉股份有限公司 XINJIANG TIANYE WATER SAVING IRRIGATION SYSTEM COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：00840） 截至二零二五年六月三十日止六個月之中期報告 摘要 – 1 – • 截至二零二五年六月三十日止六個月的營業總收入約為人民幣319,937,000元，較 去年同期約人民幣1,017,421,000元下跌約68.55%。 • 截至二零二五年六月三十日止六個月未經審計的淨虧損達約人民幣15,499,000元， 去年同期淨利潤約為人民幣13,857,000元。截至二零二五年六月三十日止六個月未 經審計歸屬於母公司所有者的淨虧損達約人民幣15,621,000元，去年同期淨利潤約 人民幣16,487,000元。 • 截至二零二五年六月三十日止六個月的每股股份基本虧損約為人民幣0.030元（二 零二四年同期每股股份基本收益：人民幣0.0317元）。 • 董事會建議不派發截至二零二五年六月三十日止六個月之中期股息（二零二四年同 期：無）。 截至二零二五年六月三十日止六個月 新疆天業節水灌溉股份有限公司（ ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 317,121,560 | RMB | | | 1 RMB | | 317,121,560 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 317,121,560 | RMB | | | 1 RMB | | 317,121,560 | | 2. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | ...

| 2. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00840 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 202,400,000 | RMB | | 1 RMB | | 202,400,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 202,400,000 | RMB | | 1 RMB | | 202,400,000 | 本月底法定/註冊股本總額： RMB 519,521,560 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新疆天業節水灌溉股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. ...

Core Viewpoint - Tianye Water Conservation (00840.HK) has announced a restructuring plan involving Tianye Group, which will result in Tianye Group gaining significant control over the new holding company [1] Group 1: Restructuring Details - The restructuring will be formalized on August 29, 2025, through a series of agreements including a share transfer agreement, voting rights entrustment agreement, and board nomination rights entrustment agreement [1] - The Eighth Division State-owned Assets Supervision and Administration Commission (SASAC) has transferred 38.40% of the new holding company's total equity to Tianye Group, with the share registration change procedures to be completed [1] - Following the completion of the restructuring, Tianye Group will be able to exercise a total voting power of 51.00% in the new holding company, while the Eighth Division SASAC will retain 49.00% voting power [1] Group 2: Financial Implications - The new holding company will become a subsidiary of Tianye Group, and its financial statements will be consolidated into Tianye Group's financial reports [1] - The Eighth Division SASAC remains the ultimate beneficial owner of Tianye Group, indicating a continued oversight role despite the change in direct controlling shareholder [1]

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告內容概不負責，對 其準確性或完整性亦不發表任何聲明，並表明不會就因本公告全部或任何部分內容 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 （股份代號：00840） 內幕消息公告 關於控股股東的重組完成 本公告乃由新疆天業節水灌溉股份有限公司（「本公司」）根據香港法例第571章《證券 及期貨條例》第XIVA部之內幕消息條文（「內幕消息條文」）及香港聯合交易所有限 公司證券上市規則第13.09條而作出。 茲提述本公司日期為二零二五年六月四日之內幕消息公告（「該公告」），內容有關 （其中包括）建議重組及證監會根據收購守則規則26.1註釋6(a)授予就建議重組作出 全面要約責任之豁免。除文義另有所指外，本公告所用之詞彙與該公告所界定者具 有相同涵義。 本公司已獲天業集團通知，為落實建議重組，於二零二五年八月二十九日，第八師 國資委與天業集團訂立股權轉讓協議（「股權轉讓協議」）、表決權委託協議（「表決權 委託協議」）及董事提名權委託協議（「董事提名權委託協議」）。直至本公告日期，股 權轉讓協議、表決權委託協議及董事提名權委託協議的先決條件已獲滿足。第八師 ...

Core Viewpoint - Tianye Water Saving (00840) reported a significant decline in revenue and a net loss for the first half of 2025, primarily due to changes in market conditions and government policies affecting project numbers in high-standard farmland construction [1] Financial Performance - Total revenue for the company was approximately 320 million yuan, representing a year-on-year decrease of about 68.55% [1] - The net loss attributable to shareholders reached 15.621 million yuan, marking a shift from profit to loss compared to the previous year [1] - Basic loss per share was approximately 0.030 yuan [1] Business Impact - The decline in total revenue was mainly driven by a significant reduction in the number of high-standard farmland construction projects, which led to a substantial drop in sales of PVC pipe products [1] - Revenue from engineering business also decreased in tandem with the drop in product sales [1]

Group 1 - The core point of the article is that Tianye Water Saving (00840) reported a significant decline in its mid-year performance for 2025, with total revenue approximately 320 million yuan, a year-on-year decrease of about 68.55% [1] - The net loss attributable to the parent company reached 15.621 million yuan, marking a shift from profit to loss compared to the previous year [1] - Basic loss per share is approximately 0.030 yuan, indicating a challenging financial situation for the company [1] Group 2 - The decline in total revenue is primarily attributed to changes in market conditions and government policy adjustments, which led to a significant reduction in the number of high-standard farmland construction projects [1] - The sales volume of the company's PVC pipe products saw a substantial drop, resulting in a corresponding decrease in engineering business revenue [1]

Interim Results Announcement Summary [Summary of Key Financials](index=1&type=section&id=Summary%20of%20Key%20Financials) For the six months ended June 30, 2025, the company's total operating revenue significantly decreased by 68.55% year-on-year, shifting from a net profit to a net loss, with basic earnings per share also turning negative; the Board recommended no interim dividend | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 319,937 | 1,017,421 | -68.55% | | Net (Loss)/Profit | (15,499) | 13,857 | Turned to Loss | | Net (Loss)/Profit Attributable to Owners of the Parent | (15,621) | 16,487 | Turned to Loss | | Basic (Loss)/Earnings Per Share | (0.030) RMB | 0.0317 RMB | Turned to Loss | | Interim Dividend | None | None | No Change | Condensed Consolidated Financial Statements [Condensed Consolidated Income Statement](index=2&type=section&id=Condensed%20Consolidated%20Income%20Statement) For the six months ended June 30, 2025, the company's total operating revenue significantly decreased year-on-year, leading to a shift from operating profit to loss and ultimately a net loss, with both main business revenue and operating costs substantially reduced | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 319,937 | 1,017,421 | -68.55% | | Main Business Revenue | 317,861 | 1,011,560 | -68.58% | | Total Operating Costs | 338,106 | 1,001,086 | -66.23% | | Operating (Loss)/Profit | (15,146) | 18,465 | Turned from Profit to Loss | | Net (Loss)/Profit | (15,499) | 13,857 | Turned from Profit to Loss | | Net (Loss)/Profit Attributable to Owners of the Parent | (15,621) | 16,487 | Turned from Profit to Loss | | Basic (Loss)/Earnings Per Share | (0.030) RMB | 0.03173 RMB | Turned from Profit to Loss | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets and liabilities both decreased, with cash, accounts receivable, and contract assets in current assets declining, while inventory increased, and short-term borrowings significantly rose as accounts payable decreased | Indicator | June 30, 2025 (RMB thousands) | Dec 31, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,178,038 | 1,232,947 | -4.46% | | Total Current Assets | 966,120 | 1,021,449 | -5.42% | | Cash and Cash Equivalents | 360,251 | 422,324 | -14.69% | | Accounts Receivable | 240,362 | 252,539 | -4.82% | | Inventories | 232,711 | 168,559 | +38.06% | | Contract Assets | 0 | 68,524 | -100% | | Total Liabilities | 778,942 | 822,939 | -5.47% | | Total Current Liabilities | 664,342 | 715,948 | -7.21% | | Short-term Borrowings | 50,000 | 14,992 | +233.51% | | Accounts Payable | 353,040 | 452,530 | -21.99% | | Total Equity | 399,096 | 410,008 | -2.66% | [Condensed Consolidated Statement of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the comprehensive loss attributable to owners of the parent led to a decrease in retained earnings, resulting in a decline in both total equity attributable to owners of the parent and total equity | Indicator | June 30, 2025 (RMB thousands) | Jan 1, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Total Equity Attributable to Owners of the Parent | 370,684 | 416,347 | -11.09% | | Total Equity | 399,096 | 450,671 | -11.45% | | Retained Earnings | (241,114) | (160,983) | Loss Widened | [Condensed Consolidated Cash Flow Statement](index=7&type=section&id=Condensed%20Consolidated%20Cash%20Flow%20Statement) For the six months ended June 30, 2025, cash flow from operating activities shifted from a net inflow to a net outflow, resulting in a negative net increase in cash and cash equivalents and a decrease in the period-end cash balance | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | (90,368) | 74,064 | Shifted from Inflow to Outflow | | Net Cash Flow from Investing Activities | 713 | (20,797) | Shifted from Outflow to Inflow | | Net Cash Flow from Financing Activities | 27,582 | 23,587 | Increased | | Net Increase in Cash and Cash Equivalents | (62,073) | 76,854 | Shifted from Increase to Decrease | | Cash and Cash Equivalents Balance as of June 30 | 360,251 | 417,649 | Decreased | Notes to the Condensed Consolidated Financial Statements [General Information](index=8&type=section&id=General%20Information) The company primarily operates in the plastic products manufacturing industry, encompassing the production, sales, installation of water-saving irrigation equipment, and related agricultural services; the scope of consolidated financial statements for this period includes 16 subsidiaries, with RMB as the functional currency - The company primarily engages in the production and sales of PVC/PE pipes for water supply, drip irrigation belts, agricultural films, and drip irrigators, also providing water-saving irrigation project construction, installation, and land agricultural services[11](index=11&type=chunk) - The scope of consolidated financial statements for this period includes **16 subsidiaries**[12](index=12&type=chunk) [Significant Accounting Policies and Estimates](index=9&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) These condensed consolidated financial statements are prepared on a going concern basis, adhering to China Accounting Standards for Business Enterprises and HKEX Listing Rules disclosure requirements; accounting policies remain consistent with the prior year, except for the adoption of new and revised standards - The financial statements are prepared on a going concern basis, adhering to China Accounting Standards for Business Enterprises and the disclosure requirements of Appendix D2 of the HKEX Listing Rules[14](index=14&type=chunk) [Total Operating Revenue Breakdown](index=9&type=section&id=Total%20Operating%20Revenue%20Breakdown) For the six months ended June 30, 2025, the company's total operating revenue significantly decreased year-on-year, primarily due to substantial reductions in revenue from drip irrigation belts and accessories, PVC/PE pipes, trading, and installation services | Business Type | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Drip Irrigation Belts and Accessories | 293 | 33,274 | -99.12% | | PVC/PE Pipes | 74,678 | 161,552 | -53.79% | | Trading Revenue | 65,404 | 390,258 | -83.24% | | Provision of Installation Services | 170,564 | 416,650 | -59.04% | | Building Materials Products | 4,396 | 9,826 | -55.27% | | Other Business Revenue | 4,602 | 5,861 | -21.50% | | **Total** | **319,937** | **1,017,421** | **-68.55%** | [Total Profit and Income Tax Expense](index=10&type=section&id=Total%20Profit%20and%20Income%20Tax%20Expense) Total profit has been net of depreciation and includes bank interest income; income tax expense significantly decreased, primarily benefiting from tax incentives such as High-Tech Enterprise status and Western Development policies enjoyed by the company and some subsidiaries | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Depreciation | 19,438 | 13,297 | +46.18% | | Bank Interest Income | 374 | 550 | -31.99% | | Corporate Income Tax | 721 | 4,334 | -83.38% | - The company obtained its High-Tech Enterprise certificate in November 2023, enjoying a **15% corporate income tax rate** for the 2024 fiscal year[19](index=19&type=chunk) - Some subsidiaries qualify for Western Development tax incentives, paying corporate income tax at a **15% rate** for the 2024 fiscal year[19](index=19&type=chunk) [Earnings Per Share and Dividends](index=11&type=section&id=Earnings%20Per%20Share%20and%20Dividends) Due to the net loss attributable to owners of the parent, basic earnings per share for the six months ended June 30, 2025, were a loss; the Board recommended no interim dividend - For the six months ended June 30, 2025, basic loss per share was approximately **RMB 0.030**, compared to a net gain of approximately RMB 0.03173 in the same period last year[20](index=20&type=chunk) - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2025[21](index=21&type=chunk) [Accounts Receivable and Payable](index=11&type=section&id=Accounts%20Receivable%20and%20Payable) As of June 30, 2025, total accounts receivable slightly increased, with the highest proportion aged within one year; total accounts payable significantly decreased, though accounts payable aged 1-2 years increased | Accounts Receivable Ageing | June 30, 2025 (RMB thousands) | Dec 31, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Within 1 year | 187,947 | 165,862 | +13.31% | | 1–2 years | 24,641 | 22,822 | +7.97% | | 2–3 years | 17,465 | 21,609 | -19.27% | | 3–4 years | 16,194 | 12,542 | +29.12% | | 4–5 years | 12,187 | 22,758 | -46.34% | | Over 5 years | 40,558 | 46,914 | -13.55% | | **Total** | **298,992** | **292,507** | **+2.22%** | | Accounts Payable Ageing | June 30, 2025 (RMB thousands) | Dec 31, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Within 1 year | 155,901 | 285,149 | -45.33% | | 1–2 years | 123,963 | 85,804 | +44.47% | | 2–3 years | 32,808 | 25,478 | +28.77% | | Over 3 years | 40,368 | 56,099 | -28.04% | | **Total** | **353,040** | **452,530** | **-21.99%** | [Productive Biological Assets](index=13&type=section&id=Productive%20Biological%20Assets) As of June 30, 2025, the company's productive biological assets (citrus trees) book value slightly increased, primarily due to current period external purchases | Item | June 30, 2025 (RMB thousands) | Dec 31, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Book Value of Citrus Trees | 34,499 | 34,473 | +0.075% | | Amount Increased in Current Period (External Purchase) | 26 | — | New Addition | [Capital Commitments](index=14&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group's contracted capital expenditures for the acquisition of property, plant, and equipment, not yet provided for in the consolidated financial statements, decreased | Item | June 30, 2025 (RMB thousands) | Dec 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Contracted Capital Expenditure Not Provided For | 400 | 730 | -45.21% | [Related Party Transactions](index=14&type=section&id=Related%20Party%20Transactions) During the period, the Group engaged in several significant related party transactions with Tianye Holding Group, including sales of finished goods, purchases of raw materials, and rentals for premises and plant machinery; total remuneration for key management personnel slightly decreased | Nature of Transaction | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Sales of Finished Goods | 24,056 | 12,499 | +92.46% | | Purchases of Raw Materials | 34,307 | 43,214 | -20.61% | | Rental for Premises | 151 | 151 | 0% | | Rental for Plant and Machinery | 136 | 136 | 0% | | Total Remuneration for Key Management Personnel | 1,320 | 1,418 | -6.91% | [Major Transactions with State-Controlled Entities](index=15&type=section&id=Major%20Transactions%20with%20State-Controlled%20Entities) The Group conducted significant transactions with other state-controlled entities, including sales of goods, purchases of raw materials, and interest expenses, with both sales of goods and raw material purchases decreasing | Nature of Transaction | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Sales of Goods | 67,040 | 114,860 | -41.63% | | Purchases of Raw Materials | 34,660 | 55,648 | -37.73% | | Interest Expense | 1,714 | 1,899 | -9.64% | | Balance Type | June 30, 2025 (RMB thousands) | June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Bank Balances | 360,251 | 417,649 | -13.75% | | Trade and Other Receivables | 23,900 | 31,066 | -23.07% | | Trade and Other Payables | 51,595 | 47,411 | +8.82% | Management Discussion and Analysis [Business Review](index=17&type=section&id=Business%20Review) For the six months ended June 30, 2025, the company's total operating revenue significantly decreased by 68.55%, primarily due to market environment changes and government policy adjustments, with reduced high-standard farmland construction projects leading to a decline in PVC pipe sales and engineering business revenue - Total operating revenue was approximately **RMB 319,937,000**, representing a year-on-year decrease of approximately **68.55%**[31](index=31&type=chunk) - The decline in revenue was primarily due to changes in market conditions and government policy adjustments, with a significant reduction in high-standard farmland construction projects leading to a substantial decrease in PVC pipe product sales and engineering business revenue[31](index=31&type=chunk) [Gross Profit Analysis](index=17&type=section&id=Gross%20Profit%20Analysis) Despite a significant decrease in operating revenue, the gross profit margin for the period increased by 1.94 percentage points to 7.70%, primarily due to higher product gross profit | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Gross Profit | 24,641 | 58,598 | -57.94% | | Gross Profit Margin | 7.70% | 5.76% | +1.94 percentage points | [Operating Costs and Expenses Analysis](index=17&type=section&id=Operating%20Costs%20and%20Expenses%20Analysis) Selling expenses decreased due to lower product sales, while administrative expenses increased, and finance costs slightly rose due to reduced interest income; both asset impairment losses and credit impairment losses were reversed | Expense Type | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Selling Expenses | 7,407 | 8,284 | -10.58% | | Administrative Expenses | 29,789 | 27,077 | +10.02% | | Net Finance Costs | 1,397 | 1,388 | +0.65% | | Reversal of Asset Impairment Loss | 256 | 0 | New Addition | | Reversal of Credit Impairment Loss | 1,398 | 614 | +127.69% | [Net Loss Attributable to Owners of the Parent](index=18&type=section&id=Net%20Loss%20Attributable%20to%20Owners%20of%20the%20Parent) The Group recorded a net loss attributable to owners of the parent of approximately RMB 15,621,000, primarily due to market changes and government policy adjustments reducing high-standard farmland construction projects, which impacted PVC pipe sales and engineering business revenue, leading to a significant decrease in overall gross profit - Net loss attributable to owners of the parent was approximately **RMB 15,621,000**, compared to a net profit of approximately RMB 16,487,000 in the same period last year[36](index=36&type=chunk) - The loss was primarily attributable to changes in market conditions and government policy adjustments, with a significant reduction in high-standard farmland construction projects leading to a substantial decline in PVC pipe product sales, a corresponding decrease in engineering business revenue, and a significant reduction in overall gross profit levels[36](index=36&type=chunk) Future Outlook [Future Outlook](index=18&type=section&id=Future%20Outlook) The company will focus on the entire water-saving agriculture industry chain, aligning with the national rural revitalization strategy, emphasizing five key business segments: plastic product R&D and production, construction and water conservancy engineering, plastic product sales, planting and land transfer, and smart agriculture information networks; future plans include increasing R&D investment, expanding markets, optimizing industrial chain layout, and promoting digital transformation - The company will focus on the entire water-saving agriculture industry chain, prioritizing five key business segments: plastic product R&D and production, construction and water conservancy engineering, plastic product sales, planting and land transfer, and smart agriculture information networks[37](index=37&type=chunk) - In the future, the company will continue to increase R&D investment in water-saving irrigation technology, deepen industry-academia-research cooperation, actively expand domestic and international markets, further extend its agricultural full industry chain layout, and focus on developing digital agricultural services and agricultural trade logistics[38](index=38&type=chunk) - The company will increase investment in digital and intelligent equipment production, promote automation and intelligent transformation of production, drive product innovation, and actively fulfill its social responsibilities[38](index=38&type=chunk) Other Information [Liquidity, Financial Resources and Capital Structure](index=19&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) The Group primarily funds its operations through cash generated from business activities; the gearing ratio slightly increased, but the directors confirmed no liquidity issues were encountered - The Group primarily funds its operations through cash generated from business activities[39](index=39&type=chunk) | Indicator | June 30, 2025 | Dec 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Gearing Ratio | 12.53% | 11.49% | +1.04 percentage points | [Contingent Liabilities and Foreign Exchange Risk](index=19&type=section&id=Contingent%20Liabilities%20and%20Foreign%20Exchange%20Risk) As of June 30, 2025, the company had no significant contingent liabilities, and as its business is primarily conducted in China and denominated in RMB, it did not undertake significant foreign exchange risk - As of June 30, 2025, the company had no significant contingent liabilities[40](index=40&type=chunk) - The Group's business is primarily conducted in China, with receipts and payments denominated in RMB, thus not undertaking significant foreign exchange risk[41](index=41&type=chunk) [Employees and Remuneration Policy](index=20&type=section&id=Employees%20and%20Remuneration%20Policy) The Group has approximately 469 full-time employees, with remuneration plans determined by individual performance, experience, and market levels; the company provides social insurance and housing provident fund schemes - The Group has approximately **469 full-time employees**[42](index=42&type=chunk) - Remuneration plans are determined by individual employee performance, work experience, and prevailing market remuneration levels[42](index=42&type=chunk) - The Group provides employees with old-age, medical, unemployment, work injury, and maternity insurance schemes, along with a housing provident fund scheme[43](index=43&type=chunk)[44](index=44&type=chunk) [Major Investments, Acquisitions and Disposals](index=20&type=section&id=Major%20Investments,%20Acquisitions%20and%20Disposals) As of June 30, 2025, the Group had no major investment plans, significant acquisitions, or disposals - As of June 30, 2025, the Group had no major investment plans[45](index=45&type=chunk) - As of June 30, 2025, the Group had no significant acquisitions or disposals[46](index=46&type=chunk) [Directors' and Substantial Shareholders' Interests](index=21&type=section&id=Directors%27%20and%20Substantial%20Shareholders%27%20Interests) As of June 30, 2025, directors and chief executives held no interests in the company's shares, related shares, or debentures; major shareholder Tianye Holding held approximately 60.42% of the company's total share capital in domestic shares, while Changmao Holdings Limited and its associates held approximately 2.77% of the total share capital in H shares - At no time during the six months ended June 30, 2025, did the company, its holding company, or any of its subsidiaries enter into any arrangements enabling directors or chief executives of the company and their respective associates to benefit from acquiring shares or debt securities of the company or any other relevant corporate body[47](index=47&type=chunk) | Shareholder Name | Capacity | Number of Shares Held | Approximate Percentage of Total Share Capital | | :--- | :--- | :--- | :--- | | Xinjiang Tianye (Group) Co., Ltd. | Beneficial Owner | 313,886,921 (Domestic Shares) | 60.42% | | Changmao Holdings Limited | Beneficial Owner | 14,407,000 (H Shares) | 2.77% | | Mr. Ding Wei | Interest in Controlled Corporation | 14,407,000 (H Shares) | 2.77% | | Ms. Wang Bing | Spouse's Interest | 14,407,000 (H Shares) | 2.77% | [Corporate Governance and Compliance](index=24&type=section&id=Corporate%20Governance%20and%20Compliance) The Board confirmed that for the six months ended June 30, 2025, no directors engaged in businesses competing with the Group's operations; the company complied with the Corporate Governance Code and the Model Code for Securities Transactions by Directors as set out in Appendix C1 of the Listing Rules - The directors are not aware of any business or interest engaged in or owned by directors, the company's management, the company's shareholders, and their respective associates that directly or indirectly competes or may compete with the Group's business[53](index=53&type=chunk) - The Group complied with the code provisions (the "Corporate Governance Code") set out in Appendix C1 of the Listing Rules during the six months ended June 30, 2025[56](index=56&type=chunk) - All directors of the company confirmed that they have complied with the required standards set out in the Model Code throughout the six months ended June 30, 2025[57](index=57&type=chunk) [Other Corporate Matters](index=24&type=section&id=Other%20Corporate%20Matters) The Board did not recommend an interim dividend; the Audit Committee reviewed the interim financial accounts; there are no pre-emptive rights provisions in the company's articles of association or Chinese law; neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the reporting period, and no significant events occurred after the reporting period - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2025[54](index=54&type=chunk) - The Audit Committee reviewed the accounting principles and practices adopted by the Group with management and discussed internal control and financial reporting matters[55](index=55&type=chunk) - There are no provisions for pre-emptive rights in the company's articles of association or under Chinese law[58](index=58&type=chunk) - During the six months ended June 30, 2025, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[59](index=59&type=chunk) - No significant events occurred from the end of the reporting period up to the date of this announcement[60](index=60&type=chunk)

Core Viewpoint - Tianye Water-saving (00840.HK) is expected to report an estimated net loss of approximately RMB 15.499 million for the six months ending June 30, 2025, following a net profit of approximately RMB 13.857 million for the period ending June 30, 2024, primarily due to changes in market conditions and government policy adjustments [1] Group 1 - The anticipated net loss is mainly attributed to a significant reduction in the number of high-standard farmland construction projects, leading to a substantial decline in the sales volume of the company's PVC pipe products [1] - The decrease in project numbers has resulted in a corresponding drop in engineering business revenue, which has further contributed to the overall decline in gross profit levels from engineering projects and product sales [1]