為本人╱吾等之代表，代表本人╱吾等出席本公司於二零二五年九月十九日（星期五）上午十時正假座香港灣仔港灣 道18號中環廣場64樓6408室（或在黑色暴雨警告信號、八號或以上熱帶氣旋警告信號、或香港政府宣佈「極端情況」 於同日上午九時正在香港生效之情況下，改訂於二零二五年九月二十二日（星期一）同一時間及地點）舉行之股東週 年大會或其任何續會，以考慮及酌情通過（無論有否修訂）召開上述大會或其任何續會之通告所載之決議案，並按 下列指示於股東週年大會或其任何續會上投票： | | 普通決議案4 | 贊成4 | 反對4 | | --- | --- | --- | --- | | 1. | 省覽本公司截至二零二五年三月三十一日止年度之經審核財務報表及董事 | | | | | 會與核數師報告。 | | | | 2. | 宣派末期股息。 | | | | 3. | (i) 重選丁斌小姐為執行董事； | | | | | (ii) 重選段林楠先生為執行董事； | | | | | (iii) 重選白力先生為非執行董事； | | | | | (iv) 重選邵梓銘先生為獨立非執行董事； | | | | | (v) 重選何萍小姐為獨立非執行董 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或 其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有中國水務集團有限公司之股份，應立即將本通函及隨 附之代表委任表格送交買主或承讓人或經手買賣或轉讓之銀行、股票經紀或其他代 理商，以便轉交買主或承讓人。 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通函之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本通函全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （股份代號：855） 建議發行及購回本公司股份之一般授權、 重選退任董事、 （於開曼群島註冊成立並遷冊往百慕達之有限公司） 及 本公司之股東週年大會通告 中國水務集團有限公司（「本公司」）謹訂於二零二五年九月十九日上午十時正假座香 港灣仔港灣道18號中環廣場64樓6408室舉行股東週年大會，大會或其任何續會之通告 載於本通函第15頁至第19頁。無論 閣下會否出席本公司之股東週年大會，務請按照 隨附之代表委任表格上印備之指示填妥表格，並最遲須於大會或其任何續會指定舉 行時間前4 ...

经审核委员会推荐，董事会已决议提议于罗兵咸永道退任后委任安永会计师事务所为公司核数师。 智通财经APP讯，中国水务(00855)发布公告，公司现任核数师罗兵咸永道会计师事务所(罗兵咸永道)的 任期将于即将举行的公司股东周年大会(股东周年大会)结束时届满。据此，罗兵咸永道将于股东周年大 会退任，且不会寻求续聘。 ...

Core Viewpoint - China Water Affairs (00855.HK) announced that its current auditor, PricewaterhouseCoopers, will retire at the upcoming annual general meeting and will not seek reappointment [1] Group 1 - The board has proposed to appoint Ernst & Young as the new auditor following the retirement of PricewaterhouseCoopers [1] - The resolution for the appointment of Ernst & Young will be presented at the annual general meeting, effective from the date of the meeting until the conclusion of the next annual general meeting [1] - The board is authorized to determine the remuneration for Ernst & Young [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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立並遷冊往百慕達之有限公司） （股份代號：855） 建議更換核數師 中國水務集團有限公司（「本公司」）及其附屬公司（「本集團」）董事會（「董事會」） 宣佈，本公司現任核數師羅兵咸永道會計師事務所（「羅兵咸永道」）之任期將於即 將舉行之本公司股東週年大會（「股東週年大會」）結束時屆滿。考慮到羅兵咸永道 自截至二零一七年三月三十一日止財政年度起一直擔任本公司核數師，董事會及 本公司審核委員會（「審核委員會」）認為現時適宜進行核數師輪換，以秉持良好企 業管治及維持本公司核數師之獨立性。董事會認為，建議更換核數師符合良好企 業管治措施，有利於維持外聘核數師之獨立性及客觀性，並符合本公司及其股東 （「股東」）之整體最佳利益。 據此，羅兵咸永道將於股東週年大會退任，且不會尋求續聘。 本公司根據百慕達法例註冊成立。根據董事會所知悉，百慕達法例並無規定要求 退任的核數師確認是否有任何與其退任相關而其認為 ...

Investment Rating - The investment rating for the environmental industry is "Positive" [2] Core Viewpoints - The environmental industry has seen a surge in bond issuance in the first half of 2025, exceeding 30 billion yuan, primarily for cash replenishment and debt repayment [14][24] - The industry is characterized by a dual focus on "green" and "technological innovation" as reflected in the types of bonds issued [14] - The report highlights the ongoing market performance of the environmental sector, which has outperformed the broader market, with specific sub-sectors showing varied performance [3][6] Summary by Sections Market Performance - As of August 15, 2025, the environmental sector index rose by 1.72%, outperforming the Shanghai Composite Index, which increased by 1.70% [3][6] - The top-performing sub-sectors include solid waste management, which saw a 12.44% increase, while water governance experienced a decline of 0.96% [9][12] Industry Dynamics - Various provinces have issued and planned special bonds totaling 153.98 billion yuan to repay overdue corporate debts, showcasing proactive measures to address financial obligations [24] - The Ministry of Natural Resources released a report indicating that the existing seawater desalination projects in China will increase to 158, with a total capacity of 2.856 million tons per day, marking a 33,300 tons per day increase from 2023 [25] Company Announcements - Zhongke Environmental reported a revenue of 848.20 million yuan in the first half of 2025, a year-on-year increase of 4.48%, with a net profit of 196.26 million yuan, up 19.83% [37] - Chengfa Environment achieved a revenue of 3.216 billion yuan, with an environmental business revenue of 2.454 billion yuan, reflecting a 14.58% increase year-on-year [37] Investment Recommendations - The report suggests maintaining a positive outlook on the environmental sector, particularly in energy conservation and resource recycling, which are expected to sustain high growth [42] - Recommended companies include Hanlan Environment, Xingrong Environment, and Hongcheng Environment, with additional attention to Wangneng Environment and Junxin Co., Ltd. [42]

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聯合公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公 告 全 部 或 任 何 部 分 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。 本聯合公告僅供參考，並不構成收購、購買或認購本公司證券之邀請或要約，亦 非在任何司法權區招攬任何投票或批准。 本聯合公告之全部或部分內容不得在、向或從任何將構成違反其適用法律或法規 之司法權區發佈、刊發或分發。 段傳良先生 （於開曼群島註冊成立並遷冊往百慕達之有限公司） （股份代號：855） SHARP PROFIT INVESTMENTS LIMITED KANGDA INTERNATIONAL ENVIRONMENTAL COMPANY LIMITED （於開曼群島註冊成立的有限公司） （股份代號：6136） 康 達 國 際 環 保 有 限 公 司 聯合公告 延遲寄發有關第一上海證券有限公司代表聯合要約人 提出強制性無條件現金要約 以收購康達國際環保有限公司全部已發行股份 並註銷本公司所有尚未行使購股權的綜合文件 茲提述段傳 ...

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection industry [1] Core Views - The report emphasizes the importance of the recent price law revision, which is expected to enhance ROE and cash flow, particularly in the water pricing sector. The marketization of water prices is seen as a potential turning point for cash flow, similar to the previous developments in waste incineration [1][11] - The report identifies a cash flow turning point in water operations, suggesting that companies like Xingrong and Shou Chuang will see significant reductions in capital expenditures starting in 2025, leading to substantial increases in free cash flow [1][22] - The report highlights the strengthening of environmental inspections as a driving force for the industry, indicating a shift from policy-driven to governance-driven demand for environmental services [10] Summary by Sections Industry Trends - The environmental protection industry is transitioning towards a governance-driven model, with a focus on long-term, systematic management rather than temporary fixes [10] - The report notes a significant increase in the sales of new energy sanitation vehicles, with a year-on-year growth of 90.56% in the first half of 2025, indicating a growing market for environmentally friendly equipment [31] Water Operations - The report predicts that the water operations sector will experience a cash flow turning point, with companies like Xingrong and Shou Chuang expected to reduce capital expenditures significantly starting in 2025, leading to increased free cash flow [1][22] - The report recommends companies such as Xingrong Environment, Yuehai Investment, and Hongcheng Environment for their strong dividend potential and market positioning [23][24] Waste Incineration - The report discusses the expected decline in capital expenditures for waste incineration, which will enhance free cash flow and dividend payouts. Companies like Junxin and Green Power are highlighted for their strong dividend performance [18][20] - The report identifies new trends in waste incineration, including partnerships with data centers to enhance profitability and ROE [21] Policy Developments - The report outlines the implications of the price law revision, which aims to enhance market pricing mechanisms and improve cash flow for public utilities, particularly in water and waste management sectors [11][14] - The report emphasizes the importance of environmental inspections in driving industry growth and ensuring compliance with new regulations [9][10] Recommendations - The report recommends a focus on companies with strong operational capabilities and cash flow potential, such as Xingrong Environment, Yuehai Investment, and Hongcheng Environment, while suggesting attention to emerging players in the waste management and renewable energy sectors [23][24][25]

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 致：香港交易及結算所有限公司 公司名稱: 中國水務集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00855 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | 本月底法定/註冊股本總額： HKD 200,000,000 F ...

目錄 目錄 20 構建管治平台 22 推進環境改善 56 踐行社會協同發展 香港聯交所《環境、社會及管治報告守則》內容索引 04 詞彙 06 核心價值觀 07 董事會聲明 08 管理層致辭 10 企業發展概況 14 利益相關方參與 16 實質性分析 77 報告概況 79 獨立驗證報告 80 2025 環境、社會及管治報告 BOD 生化需氧量 Biochemical Oxygen Demand ClO2 二氧化氯 Chlorine Dioxide km2 平方千米 / 平方公里 Square kilometer H2S 硫化氫 Hydrogen Sulfide CO2 二氧化碳 Carbon Dioxide kW·h 千瓦時 Kilowatt-hour m3 立方米 Cubic meter MWh 兆瓦時 Megawatt-hour NH3-N 氨氮 Ammonia Nitrogen NH3 氨氣 Ammonia SS 懸浮物 Suspended Solids km 千米 / 公里 Kilometer GJ 吉焦 Gigajoule Al2(SO4)3 硫酸鋁 Aluminium Sulfate COD 化學需 ...