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]

Core Viewpoint - Tianye Water Saving (00840) anticipates a net loss of approximately RMB 15.499 million for the six months ending June 30, 2025, while projecting a net profit of about RMB 13.857 million for the period ending June 30, 2024 [1] Group 1 - The expected net loss is primarily attributed to significant reductions in the number of high-standard farmland construction projects due to changes in market conditions and government policy adjustments [1] - The company's sales volume of PVC pipes has drastically declined, leading to a corresponding decrease in engineering business revenue [1] - The overall gross profit level from engineering projects and product sales has significantly decreased, resulting in the anticipated loss [1]

Core Viewpoint - Tianye Water Saving (00840) anticipates a net loss of approximately RMB 15.499 million for the six months ending June 30, 2025, while projecting a net profit of about RMB 13.857 million for the period ending June 30, 2024 [1] Group 1 - The expected net loss is primarily attributed to significant reductions in the number of high-standard farmland construction projects due to changes in market conditions and government policy adjustments [1] - The company's sales volume of PVC pipe products has drastically declined, leading to a corresponding decrease in engineering business revenue [1] - The overall gross profit level from engineering projects and product sales has significantly decreased, resulting in the anticipated loss [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。 XINJIANG TIANYE WATER SAVING IRRIGATION SYSTEM COMPANY LIMITED* 新疆天業節水灌溉股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00840） 根據本集團目前可得資料，上述預期淨虧損乃主要由於本年度受市場環境變化及政 府政策調整影響，高標準農田建設項目數量顯著縮減，導致公司PVC管材產品銷量 大幅下滑，工程業務收入同步減少，致使工程項目與產品銷售的整體毛利水平大幅 降低導致虧損。 董事會亦謹此通知股東和潛在投資者，本集團的財務狀況維持穩定。 – 1 – 盈利預告 本公告乃由新疆天業節水灌溉股份有限公司（「本公司」，連同其附屬公司，「本集 團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條以及香港 法例第571章證券及期貨條例第XIVA部項下內幕消息條文（定義見上市規則）而作 出。 本公司董事（「董事」）會 ...

格隆汇8月15日丨天业节水(00840.HK)公告，公司将于2025年8月28日星期四上午十时三十分假座中华人 民共和国新疆维吾尔自治区石河子市经济技术开发区北三东路36号会议室举行董事会会议，以考虑及批 准(其中包括)公司及其附属公司截至2025年6月30日止6个月未经审计中期业绩及其刊发，以及考虑派发 中期股息(如有)。 ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：00840） 董事會會議通告 新疆天業節水灌溉股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈， 本公司將於二零二五年八月二十八日星期四上午十時三十分假座中華人民共和國新 疆維吾爾自治區石河子市經濟技術開發區北三東路36號會議室舉行董事會會議，以 考慮及批准（其中包括）本公司及其附屬公司截至二零二五年六月三十日止六個月之 未經審計中期業績及其刊發，以及考慮派發中期股息（如有）。 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布內容概不負責，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布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。 XINJIANG TIANYE WATER SAVING IRRIGATION SYSTEM COMPANY LIMITED* 新疆天業節水灌溉股份有限公司 周剛 香港，二零二五年八月十五日 於本公告日期，董事會包括四名執行董事，分別為周剛先生（董事長）、蔣大勇先 生、王東偉先生及李政先生；以及三名獨立非執行董事，分別為谷莉女士、洪維德 先生及何新林先生。 * 僅 ...

Core Insights - The company has successfully transformed idle land into a productive "green vegetable garden," showcasing teamwork and ecological principles while enhancing employee life through cost reduction and efficiency gains [1][2][3] Group 1: Project Overview - The initiative began in response to environmental calls, with employees collaborating to cultivate over 300 square meters of previously unused land into a standardized vegetable garden [2] - Employees participate in various tasks such as watering and weeding, which not only reduces labor costs but also strengthens team cohesion, turning the garden into a new platform for collective effort [2] Group 2: Economic and Ecological Benefits - The garden is thriving with crops like cucumbers, bok choy, and Chinese cabbage, allowing employees to harvest fresh vegetables for the cafeteria and share among themselves, achieving a "farm-to-table" concept [3] - By replacing some procurement needs with self-grown vegetables, the cafeteria can save approximately 15% in monthly costs while also reducing carbon emissions from transportation, thus enhancing both economic and ecological benefits [3] Group 3: Educational and Cultural Impact - The gardening experience has deepened employees' understanding of hard work and resourcefulness, promoting a culture of frugality and low-carbon practices [4] - The company plans to institutionalize garden management and explore the introduction of more fruit and vegetable varieties, aiming to create a unique base that integrates practical education and ecological beautification [4]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 for the fiscal year ending December 31, 2023[14]. - The net loss attributable to the parent company for the fiscal year ending December 31, 2024, was approximately RMB 39,536,000, compared to a net loss of RMB 7,358,000 for the fiscal year ending December 31, 2023[14]. - Basic and diluted loss per share for the year was approximately RMB 0.08, compared to a loss of RMB 0.01 for the fiscal year ending December 31, 2023[14]. - Trade revenue decreased by 18.48% from approximately RMB 615,256,000 to approximately RMB 501,560,000, while engineering revenue fell by 44.64% from approximately RMB 1,044,235,000 to approximately RMB 578,052,000[19]. - Gross profit decreased from approximately RMB 102,420,000 (gross margin of 4.62%) to approximately RMB 50,433,000 (gross margin of 3.37%) due to reduced income from certain engineering projects[20]. - Operating costs for the year ended December 31, 2024, were approximately RMB 1,448,129,000, down about 31.56% from RMB 2,115,783,000 for the previous year[21]. - Net loss for the year ended December 31, 2024, was approximately RMB 44,799,000, compared to a net loss of approximately RMB 6,266,000 for the same period last year[26]. - The company's revenue for the year ended December 31, 2024, was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 for the year ended December 31, 2023[19]. - The company reported a net loss of RMB 147,078,350.04, an improvement from a loss of RMB 160,843,946.80 in the previous year[180]. - The total comprehensive income for the fiscal year 2024 was 13,765,596.76 RMB, a recovery from a loss of -19,255,086.52 RMB in the previous year, suggesting some improvement in overall financial health[188]. Strategic Initiatives - The company aims to enhance its product structure and adjust its business strategy while ensuring existing sales volume, focusing on technological innovation and project implementation in 2025[15]. - The company plans to actively expand its market channels and innovate marketing models while adhering to a path of technological innovation and product structure adjustment[15]. - The company will leverage national water network projects and high-standard farmland construction opportunities to develop various water conservancy projects, including reservoir construction and land improvement[15]. - The company is committed to becoming a comprehensive service provider for modern water-saving agriculture, focusing on five major business sectors: plastic product R&D and production, water conservancy engineering, plastic product sales, land transfer, and smart agricultural information networks[16]. - The company will continue to deepen its focus on the "modern agriculture" sector as part of its strategic development plan[16]. Governance and Compliance - The board consists of seven directors, including three executive directors and four independent non-executive directors, ensuring a balanced governance structure[46]. - The group has established three committees (Remuneration, Audit, and Nomination) to oversee various aspects of corporate governance[49]. - The group has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ending December 31, 2024[44]. - The board confirms its responsibility for preparing the group's accounts, ensuring accuracy and compliance with auditing standards[75]. - The company has maintained compliance with all relevant laws and regulations without any significant violations during the reporting period[131]. Human Resources - The group employed a total of 500 employees as of December 31, 2024, an increase from 407 employees in 2023[38]. - Approximately 75% of the group's employees are male, while about 25% are female, indicating a gender diversity challenge in the workforce[67]. Financial Position - The company's current ratio and quick ratio were approximately 1.43 and 1.07, respectively, as of December 31, 2024[30]. - The company's capital expenditure related to the acquisition of properties, plants, and equipment was approximately RMB 574,000, consistent with the previous year[32]. - The debt-to-equity ratio as of December 31, 2024, was 15.83%, slightly up from 15.55% in the previous year[33]. - Total current assets amounted to RMB 1,021,449,372.56, a slight decrease of 0.45% from RMB 1,025,913,660.44 at the end of the previous year[164]. - Total assets reached RMB 1,232,947,050.30, a decrease of 1.30% from RMB 1,249,254,163.22 at the end of the previous year[172]. - Total liabilities increased to RMB 822,938,882.22, up 6.38% from RMB 773,547,489.16 year-over-year[172]. - Total equity decreased to RMB 410,008,168.08, down 13.83% from RMB 475,706,674.06 at the end of the previous year[173]. Audit and Internal Control - The audit report issued by Lixin Certified Public Accountants confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2024, and its operating results for the fiscal year 2024[145]. - The company has established a comprehensive internal control system that meets national regulations and effectively manages key operational areas[144]. - The auditors assess the appropriateness of accounting policies selected by management and the reasonableness of estimates and disclosures made[160]. - The audit procedures include testing the accuracy of management's calculations related to inventory impairment and evaluating the reasonableness of cost estimates associated with inventory[155]. Shareholder Relations - The board of directors encourages continuous dialogue with shareholders and ensures that all directors make efforts to attend shareholder meetings[76]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, which is subject to various factors including compliance with Chinese company law[81]. - The company reported no dividends for the fiscal year ending December 31, 2024, consistent with the previous year[97]. - Shareholders holding 10% or more of the issued shares can request the board to convene an extraordinary general meeting within two months[79].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 in 2023[3]. - The net loss attributable to the parent company for the year was approximately RMB 39,536,000, compared to a net loss of RMB 7,358,000 in 2023[3]. - Basic and diluted loss per share for the year was approximately RMB 0.08, compared to a loss of RMB 0.01 in 2023[6]. - Total operating costs for the year were approximately RMB 1,550,051,248, compared to RMB 2,216,522,358 in the previous year[5]. - The company reported a total comprehensive loss of RMB 44,798,789 for the year, compared to a loss of RMB 6,265,677 in the previous year[6]. - The company experienced a significant increase in financial expenses, which rose to RMB 4,025,619 from RMB 1,621,993 in the previous year[5]. - The company reported a net asset acquisition of -¥31,487.17, with goodwill amounting to ¥31,488.17[47]. - The company reported a credit impairment loss of -¥7,773,581.84, compared to a gain of ¥205,371.78 in the previous year[52]. - The total income tax expense for the current period was ¥5,214,888.35, down from ¥7,255,768.32 in the previous year, representing a decrease of about 28%[53]. - The basic earnings per share (EPS) for the year ended December 31, 2024, is -0.08, compared to -0.01 in the previous period, reflecting a significant decline in net profit attributable to shareholders of -39,535,871.71[55]. - The net loss for the year ending December 31, 2024, was approximately RMB 44,799,000, compared to a net loss of RMB 6,266,000 for the previous year, representing a loss margin of about 3.00%[80]. - The net loss attributable to the owners of the parent company was approximately RMB 39,536,000, compared to RMB 7,358,000 for the previous year, with loss margins of 2.64% and 0.33% respectively[81]. Assets and Liabilities - The company's total assets as of December 31, 2024, amounted to RMB 1,232,947,050, a decrease from RMB 1,249,254,163 at the end of the previous year[7]. - Total liabilities amounted to RMB 822,938,882.22, an increase from RMB 773,547,489.16 at the end of the previous year, representing a growth of 6.4%[8]. - Current liabilities totaled RMB 715,947,792.19, slightly decreased from RMB 723,625,607.87, while non-current liabilities increased significantly from RMB 49,921,881.29 to RMB 106,991,090.03[8]. - The company's equity attributable to shareholders decreased to RMB 381,717,665.12 from RMB 441,383,001.27, reflecting a decline of 13.5%[8]. - The company has a total outstanding bank loan of RMB 64,892,000 as of December 31, 2024, down from RMB 73,972,000 in 2023[86]. - The total accounts payable at the end of the period is 452,530,564.05, an increase from 439,958,267.49 at the beginning of the year[71]. - The total tax payable at the end of the period is 7,643,636.04, significantly higher than 4,959,317.44 at the beginning of the year[72]. Cash Flow and Financial Management - Cash and cash equivalents increased to RMB 422,324,054 from RMB 342,509,536 at the end of the previous year[7]. - The company has established a financial policy to optimize cash flow and ensure timely repayment of debts[92]. - The current ratio and quick ratio are approximately 1.43 and 1.07 respectively as of December 31, 2024, compared to 1.42 and 1.00 in 2023[88]. - The company's capital debt ratio is 15.83% as of December 31, 2024, slightly up from 15.55% in 2023[91]. Operational Highlights - The company has a production capacity of 6 million tons of drip irrigation materials annually, positioning itself as a leading one-stop service provider in the water-saving irrigation sector[10]. - The company has included 17 subsidiaries in its consolidated financial statements, indicating a broad operational scope[12]. - The company plans to focus on technological innovation and project implementation in 2025, optimizing product structure and adjusting operational strategies[83]. - The company aims to enhance its core competitiveness through increased R&D investment and the establishment of a professional R&D team[83]. - The market outlook is positive, with the government prioritizing water-saving industries and investing over RMB 100 billion to support modernization of irrigation areas[82]. Accounting Policies and Compliance - The company’s financial statements were approved by the board on March 28, 2025, ensuring compliance with relevant regulations[11]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[17]. - The company will implement the new accounting standard "Interpretation No. 17" starting from January 1, 2024, which will not have a significant impact on its financial position and operating results[24]. - The company will make necessary adjustments to align the accounting policies and periods of subsidiaries with its own when preparing consolidated financial statements[23]. - The company has not made any significant changes to its accounting estimates during the reporting period[33]. - The company has not reported any significant changes in its accounting policies during the reporting period[34]. Taxation and Incentives - The company has obtained a high-tech enterprise certificate valid for three years, allowing it to enjoy a reduced corporate income tax rate of 15% for the 2024 fiscal year[38]. - The company’s subsidiaries, including Gansu Tianye and Aksu Tianye, will also benefit from a 15% corporate income tax rate in 2024 due to compliance with the western development tax incentive policy[38]. - The company’s subsidiaries are eligible for a tax reduction policy for small and micro enterprises, allowing a 20% tax rate on income exceeding 100,000 but not exceeding 300,000[37]. - The company has no profits generated in Hong Kong, thus no need to pay Hong Kong profits tax[54]. Employee and Governance - The company employed a total of 500 employees as of December 31, 2024, an increase from 407 in 2023[96]. - The board of directors includes three executive directors: Chairman Zhou Gang, Han Gen, and Jiang Dayong[112]. - There are four independent non-executive directors: Li Lianjun, Gu Li, Hong Weide, and He Xinlin[112].

Financial Performance - The total revenue for the six months ended June 30, 2024, was approximately RMB 1,017,421,000, an increase of about 9.58% compared to RMB 928,462,000 for the same period last year[1] - The unaudited net profit for the six months ended June 30, 2024, reached approximately RMB 13,857,000, compared to RMB 7,613,000 for the same period last year[2] - The basic earnings per share for the six months ended June 30, 2024, was approximately RMB 0.0317, compared to RMB 0.00966 for the same period last year[4] - Total revenue for the six months ended June 30, 2024, was RMB 1,017,421,000, an increase from RMB 928,462,000 in the same period of 2023, representing a growth of approximately 9.6%[12] - The net profit attributable to the parent company for the six months ended June 30, 2024, was approximately RMB 16,487,000, a substantial increase from RMB 5,020,000 in the same period of 2023, indicating a growth of about 228.5%[17] - Basic earnings per share for the six months ended June 30, 2024, was RMB 0.0317, compared to RMB 0.0097 for the same period in 2023[17] Operating Costs and Expenses - The total operating costs for the six months ended June 30, 2024, were RMB 1,001,086,000, compared to RMB 928,477,000 for the same period last year[3] - Selling expenses for the six months ended June 30, 2024, were approximately RMB 8,284,000, down about RMB 4,881,000 or 37.08% from RMB 13,165,000 in the previous year[33] - Administrative expenses increased to approximately RMB 27,077,000, up about RMB 5,144,000 or 23.45% from RMB 21,933,000 in the previous year[33] - The net financial expenses for the six months ended June 30, 2024, were approximately RMB 1,388,000, compared to a net financial income of approximately RMB (111,000) in the previous year[33] - The gross profit for the same period was approximately RMB 58,598,000, with a gross margin of about 5.76%, up from RMB 39,062,000 and a gross margin of 4.21% in the previous year, indicating a margin increase of approximately 1.55%[32] Cash Flow and Financial Position - Cash flow from operating activities for the six months ended June 30, 2024, was RMB 74,064,000, compared to a negative cash flow of RMB 60,277,000 for the same period last year[8] - The total assets as of June 30, 2024, amounted to RMB 1,417,829,000, compared to RMB 1,219,950,000 as of December 31, 2023[5] - The total liabilities as of June 30, 2024, were RMB 948,057,000, compared to RMB 769,279,000 as of December 31, 2023[6] - The company's capital debt ratio as of June 30, 2024, is 11.49%, down from 16.34% on December 31, 2023, indicating improved financial stability[39] - The company has no significant contingent liabilities as of June 30, 2024, reflecting a strong risk management position[40] Revenue Breakdown - Revenue from PVC/PE pipes increased significantly to RMB 161,552,000, up from RMB 115,899,000, marking an increase of about 39.3% year-over-year[12] - Installation service revenue surged to RMB 416,650,000, compared to RMB 266,857,000 in the previous year, reflecting a growth of approximately 56.0%[12] - Trade revenue decreased from approximately RMB 462,623,000 to RMB 390,258,000, accounting for 49.83% to 38.36% of total revenue[32] Accounts Receivable - The company reported a significant increase in accounts receivable, which rose to RMB 227,572,000 from RMB 158,278,000[5] - Accounts receivable as of June 30, 2024, totaled RMB 292,507,000, an increase from RMB 223,213,000 as of December 31, 2023, representing a rise of approximately 31.1%[19] Corporate Governance and Compliance - The company has complied with the corporate governance code during the six months ending June 30, 2024[54] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[53] - The company has adopted the standard code of conduct for securities trading and all directors and supervisors have confirmed compliance during the reporting period[55] - There are no provisions in the company's articles of association or Chinese law regarding preemptive rights for existing shareholders when new shares are issued[56] Employee and Shareholder Information - The company has a total of approximately 407 full-time employees as of June 30, 2024, emphasizing the importance of employee quality for business growth[42] - The major shareholder, Xinjiang Tianye (Group) Co., Ltd., holds 98.98% of the domestic shares and 60.42% of the total issued share capital as of June 30, 2024[48] - Longmao Holdings owns 14,407,000 H shares, representing approximately 7.12% of the total issued H shares of the company[50] - The total issued share capital of the company is 519,521,560 shares, including domestic shares and H shares[50] - The ownership percentage of Longmao Holdings in the total issued share capital is approximately 2.77%[50] - Mr. Ding Wei is the sole owner of Longmao Holdings and is considered to have an interest in the 14,407,000 H shares held by Longmao Holdings[51] - Ms. Wang Bing, as Mr. Ding's spouse, is also considered to have an interest in the 14,407,000 H shares held by Longmao Holdings[51] Strategic Initiatives - The company plans to continue increasing investment in water-saving irrigation technology research and development to maintain industry leadership[38] - The company is focusing on expanding its agricultural supply chain layout, particularly in digital agricultural services and agricultural trade logistics[38] - The company aims to enhance core competitiveness through deepening industry-academic-research cooperation and accelerating technology transformation[38] Dividend Policy - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[1] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[18] Asset Management - The company recorded no asset impairment losses for the six months ended June 30, 2024, and the same for the previous year[34] Equity Transactions - The company has entered into a conditional equity transfer agreement to acquire 100% of Beijing Tianye International Agricultural Engineering Technology Co., Ltd. for RMB 20,161,900 as of November 30, 2023[46] - There were no purchases, sales, or redemptions of any listed securities by the company or its subsidiaries during the six months ending June 30, 2024[57]