Financial Performance - The net profit attributable to the company for the fiscal year 2024 is RMB 807,210,626.05, with a distributable profit of RMB 6,133,464,906.76 after accounting for statutory reserves and dividends paid[2]. - The company's operating revenue for 2024 reached ¥4,827,453,005.80, representing a 3.48% increase compared to ¥4,665,082,961.28 in 2023[19]. - Net profit attributable to shareholders for 2024 was ¥807,210,626.05, a decrease of 6.70% from ¥865,207,128.31 in 2023[19]. - The total assets of the company as of the end of 2024 were ¥25,154,981,695.71, reflecting a 2.84% increase from ¥24,460,654,468.88 in 2023[19]. - Basic earnings per share for 2024 were ¥0.51, down 7.27% from ¥0.55 in 2023[20]. - The weighted average return on equity decreased to 8.35% in 2024, down from 9.89% in 2023, a decline of 1.54 percentage points[20]. - The company reported a net profit of ¥251,596,411.36 in Q1 2024, with a negative cash flow from operating activities of ¥(53,966,431.13)[23]. - The total net profit attributable to shareholders for Q2 2024 was ¥170,331,925.94, showing a decline compared to Q1 2024[23]. - The total net assets attributable to shareholders increased by 5.99% to ¥9,668,867,730.10 at the end of 2024, compared to ¥9,122,173,579.47 at the end of 2023[19]. - The company declared a dividend of RMB 26,069 million for 2024, up 15% from RMB 22,614 million in 2023[27]. Dividend Policy - The proposed cash dividend for 2024 is RMB 1.70 per 10 shares, totaling RMB 266,971,074.45, which represents 33.07% of the net profit attributable to shareholders[2]. - The profit distribution plan is subject to approval at the 2024 annual shareholders' meeting[3]. - The company aims to maintain investor interests by ensuring that the dividend for 2024 is not lower than the previous year[2]. - The cash dividend amount for the reporting period is RMB 266,971,074.45, which represents 33.07% of the net profit attributable to ordinary shareholders of the listed company[200]. - The cash dividend per 10 shares is RMB 1.70 (including tax)[200]. - The company has confirmed that its cash dividend policy complies with the company's articles of association and shareholder meeting resolutions[198]. - The decision-making procedures and mechanisms related to the cash dividend policy are complete and transparent[198]. - Minority shareholders have had sufficient opportunities to express their opinions and their legal rights have been adequately protected[198]. Audit and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm[4]. - The management has assured the accuracy and completeness of the financial report, taking legal responsibility for its content[4]. - There are no significant risks or violations in decision-making procedures reported for the year[5]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The internal control system has been established and is continuously improved, focusing on key business risks[130]. - The board of directors conducted an annual review of the risk management and internal control systems, ensuring compliance with governance codes[131]. Strategic Initiatives - The company successfully expanded its wastewater treatment capacity by 155,000 tons per day through new project wins during the reporting period[33]. - The company is actively pursuing strategic opportunities in the photovoltaic and energy storage sectors as part of its long-term development plan[31]. - The company is focusing on five technological dimensions to support business expansion, including efficient wastewater treatment and renewable energy integration[34]. - The company completed the first phase of its digital transformation, enhancing operational efficiency and risk control capabilities[34]. - The company is exploring new development paths in comprehensive utilization of water resources and energy[96]. Governance and Management - The governance structure has been continuously improved in accordance with the Company Law and relevant regulations, ensuring compliance and protecting shareholder interests[101]. - The board of directors consists of 9 members, with a recent appointment of a new executive director to replace a departing member[105]. - The company has established mechanisms to ensure the independence of its independent non-executive directors, including regular communication and information sharing[107]. - The company emphasizes the importance of compliance with the listing rules and corporate governance codes to ensure effective decision-making[109]. - The company has a strong emphasis on infrastructure investment, with board members having significant experience in project financing and governance[143]. Employee and Talent Management - The company has a total of 2,321 employees, with 467 in the main company and 1,854 in major subsidiaries[172]. - The professional composition includes 1,247 production personnel, 108 sales personnel, 447 technical personnel, 129 financial personnel, 207 administrative personnel, and 183 management personnel[172]. - The educational background of employees shows 5 with a doctorate, 155 with a master's degree, 1,402 with a bachelor's degree, and 525 with a college diploma[172]. - The company has implemented a performance-oriented compensation management system for its leaders, consisting of a basic annual salary, performance annual salary, and term incentives[173]. - The annual training plan focuses on quality improvement training, mandatory training, and self-improvement training to ensure effectiveness and relevance[174]. Risk Management - The company faces risks related to government credit, as wastewater treatment service fees are primarily sourced from government accounts[94]. - The company is enhancing risk management by closely monitoring domestic and international economic conditions and strengthening compliance measures[96]. - The company has implemented standardized management practices to mitigate operational risks, including personnel training and enhancing environmental compliance awareness[97]. - A preliminary compliance obligation list has been established to manage wastewater, sludge, and odor-related responsibilities, reducing operational management risks[97]. Research and Development - Research and development expenses rose by 23.04% to RMB 65,289,667, reflecting the company's commitment to innovation[49]. - Research and development investment will be no less than 1.25% of annual operating income, focusing on new technologies in wastewater treatment and renewable energy[93]. - The company employed 361 R&D personnel, representing 15.55% of the total workforce[76]. Market Expansion - The company is expanding its market presence, targeting new regions with a projected investment of $50 million over the next year[141]. - The company is involved in the bidding for the Chibi City Lushui Industrial Park Wastewater Treatment Plant project[159]. - The company is preparing to establish Wuhu Tianchuang Water Co., Ltd. following a successful bid[160].

Financial Performance - The company's operating revenue for the first quarter was RMB 1,102,428,524.33, representing a year-on-year increase of 2.05% compared to RMB 1,080,278,097.48[4] - Net profit attributable to shareholders was RMB 254,761,055.37, reflecting a growth of 1.26% from RMB 251,596,411.36 in the same period last year[4] - Basic and diluted earnings per share increased to RMB 0.162, up 1.25% from RMB 0.160[4] - Operating profit for Q1 2025 was ¥320,568,867.11, compared to ¥301,741,352.02 in Q1 2024, reflecting a growth of 6.2%[19] - Net profit for Q1 2025 was ¥262,588,437.16, up 5.0% from ¥249,573,483.78 in Q1 2024[19] - Operating revenue for Q1 2025 reached CNY 413.95 million, up 4.3% from CNY 394.82 million in Q1 2024[28] - Net profit for Q1 2025 was CNY 148.51 million, representing an increase of 2.5% compared to CNY 145.01 million in Q1 2024[28] Cash Flow - The net cash flow from operating activities was negative at RMB -65,647,742.27, compared to RMB -53,966,431.13 in the previous year, indicating a decline in cash generation[4] - Cash flow from operating activities showed a net outflow of ¥65,647,742.27 in Q1 2025, compared to a net outflow of ¥53,966,431.13 in Q1 2024[22] - Cash flow from investing activities resulted in a net outflow of ¥482,718,594.19 in Q1 2025, compared to a net outflow of ¥265,340,945.70 in Q1 2024[22] - Cash flow from financing activities generated a net inflow of ¥263,248,964.39 in Q1 2025, significantly higher than the net inflow of ¥1,597,822.35 in Q1 2024[23] - Cash inflow from operating activities totaled CNY 849.94 million in Q1 2025, compared to CNY 654.02 million in Q1 2024, an increase of about 30%[32] Assets and Liabilities - Total assets at the end of the reporting period were RMB 25,511,117,206.42, a 1.42% increase from RMB 25,154,981,695.71 at the end of the previous year[4] - Current assets totaled CNY 7,018,223,036.05, up from CNY 6,856,660,856.38, indicating an increase of about 2.36%[15] - Non-current assets reached CNY 18,492,894,170.37, compared to CNY 18,298,320,839.33, representing a growth of approximately 1.06%[15] - Total liabilities were CNY 14,436,915,778.24, slightly up from CNY 14,357,687,149.45, marking an increase of about 0.55%[16] - Current liabilities decreased to CNY 2.76 billion from CNY 2.92 billion, a reduction of about 5.4%[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,073, including 60 H-share shareholders[10] - The largest shareholder, Tianjin Municipal Investment Co., Ltd., holds 715,565,186 shares, accounting for 45.57% of the total shares[9] - The company reported a total of 156,956,000 H shares held by Ningbo Baisiles Trading Co., Ltd. and its concerted parties, accounting for 9.99% of the total share capital[12] - The company has not indicated any strategic investors among its top ten shareholders, suggesting a focus on retail and institutional investors[12] Equity and Return Metrics - Equity attributable to shareholders rose to RMB 9,923,628,785.47, marking a 2.63% increase from RMB 9,668,867,730.10[4] - The weighted average return on equity decreased to 2.60%, down 0.12 percentage points from 2.72% in the previous year[4] - The total equity increased to CNY 7.90 billion from CNY 7.76 billion, reflecting a growth of about 1.8%[26] Research and Development - Research and development expenses decreased to ¥7,759,954.19 in Q1 2025 from ¥8,344,320.72 in Q1 2024, a reduction of 7.0%[19] - Research and development expenses for Q1 2025 were CNY 3.97 million, slightly down from CNY 4.17 million in Q1 2024[28] Investment Income - Investment income for Q1 2025 was CNY 33.99 million, significantly higher than CNY 12.94 million in Q1 2024, indicating a growth of approximately 162.5%[28]

Financial Performance - The company's operating revenue for 2024 was RMB 4,827,453,005.80, representing a 3.48% increase compared to RMB 4,665,082,961.28 in 2023[8]. - Net profit attributable to shareholders for 2024 was RMB 807,210,626.05, a decrease of 6.70% from RMB 865,207,128.31 in 2023[8]. - Basic earnings per share for 2024 were RMB 0.51, down 7.27% from RMB 0.55 in 2023[10]. - Total profit amounted to RMB 104,706,000, a decrease of 5.35% year-on-year[36]. - The company reported a significant reduction in sales expenses by 12.19% due to decreased hazardous waste disposal business volume[38]. - Financial expenses surged by 61.85% to RMB 344,980,035.03, primarily due to reduced interest income from long-term receivables[39]. - The company achieved operating revenue of RMB 482,745,000, an increase of 3.48% compared to the previous year[36]. - The net profit for the year amounted to RMB 903,442,000.00, reflecting a decrease compared to the previous year's profit of RMB 865,207,128.31[115]. Cash Flow and Assets - The net cash flow from operating activities increased by 39.31% to RMB 1,382,016,720.96 in 2024, compared to RMB 992,016,405.44 in 2023[8]. - The total assets at the end of 2024 were RMB 25,154,981,695.71, up 2.84% from RMB 24,460,654,468.88 at the end of 2023[8]. - Total current assets increased to RMB 6,856,660,856.38 in 2024 from RMB 6,235,653,563.61 in 2023, reflecting a growth of approximately 9.94%[91]. - Long-term receivables rose to RMB 5,128,874,522.65 in 2024, up from RMB 4,828,821,024.70 in 2023, indicating an increase of about 6.31%[91]. - The company's total equity attributable to shareholders rose to RMB 9,668,867,730.10 in 2024, compared to RMB 9,122,173,579.47 in 2023, reflecting an increase of approximately 6.01%[94]. Operational Efficiency and Strategy - The company aims to enhance resource allocation efficiency by implementing core cost management and collective procurement strategies[16]. - The company is focusing on the photovoltaic power generation industry, industrial wastewater, and energy storage sectors for future growth opportunities[15]. - The company completed the first phase of its digital transformation, enhancing system efficiency and real-time monitoring of core business operations[19]. - The company is focusing on risk prevention by monitoring loss risks and accelerating the clearance of non-performing assets[24]. - The company is actively expanding its renewable energy projects, adding a service area of 104,800 square meters in a national clean energy project[18]. - The company is focused on enhancing operational efficiency and digital transformation in its water and energy businesses[34]. Research and Development - Research and development expenses rose to RMB 65,289,666.95, marking a 23.04% increase[37]. - R&D investment will be no less than 1.25% of annual operating income, focusing on new technologies in wastewater treatment, sludge treatment, and renewable energy[79]. - The company employed 361 R&D personnel, making up 15.55% of the total workforce[58]. Market and Business Expansion - The company has connected 110 recycled water pipeline points to expand the usage range and user base of recycled water[16]. - The company successfully won four projects in water treatment, adding a sewage treatment capacity of 155,000 tons per day[18]. - The company is exploring the integration of digitalization and green initiatives to reshape operational advantages in the water services sector[77]. - The company aims to become a leading professional service provider in the water treatment and resource utilization sector by the end of the 14th Five-Year Plan[77]. Risk Management - The company emphasizes strengthening risk management and compliance to mitigate various operational risks[87]. - The company has established a comprehensive risk management framework to identify, analyze, and respond to potential risks in its operations[87]. - The company faces risks related to government credit, as wastewater treatment service fees are primarily sourced from government accounts, making them vulnerable to fiscal conditions[80]. Dividends and Shareholder Returns - The net profit attributable to the company for 2024 is RMB 807,210,626.05, with a proposed cash dividend of RMB 1.70 per 10 shares, totaling RMB 266,971,074.45, which accounts for 33.07% of the net profit[89]. - The proposed final dividend for 2024 is RMB 0.170 per share, up from RMB 0.166 per share in 2023, with a total proposed dividend amounting to RMB 266,971,074.45[119]. Compliance and Governance - The audit committee has been renamed to the Audit and Risk Control Committee, expanding its responsibilities to include major risk response strategies[132]. - The company's financial statements for the year ending December 31, 2024, have been reviewed and are consistent with the audited consolidated financial reports[134].

Financial Performance - Operating revenue for the third quarter reached RMB 117,125.9 million, representing a year-on-year increase of 1.58%[2] - Net profit attributable to shareholders was RMB 25,563.2 million, reflecting a year-on-year growth of 14.44%[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 23,974.6 million, up 18.48% year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached RMB 3,389,425 thousand, an increase of 3.9% compared to RMB 3,261,970 thousand in the same period of 2023[13] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 677,560 thousand, up from RMB 661,228 thousand in 2023, reflecting a growth of 2.2%[14] - The company reported a net profit of CNY 578,094 for the first three quarters of 2024, representing an increase of 2.6% from CNY 565,250 in the same period of 2023[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 2,553,414.0 million, an increase of 4.39% compared to the end of the previous year[2] - The company's total assets as of September 30, 2024, amounted to RMB 25,534,140 thousand, an increase from RMB 24,460,654 thousand at the end of 2023, representing a growth of 4.4%[11] - The total liabilities as of September 30, 2024, were RMB 14,837,489 thousand, up from RMB 14,244,893 thousand at the end of 2023, marking an increase of 4.2%[11] - The company’s total liabilities increased to CNY 9,428,535 as of September 30, 2024, compared to CNY 8,559,259 at the end of 2023[19] Shareholder Information - Shareholders' equity attributable to the company was RMB 953,951.2 million, up 4.57% from the previous year-end[2] - The top shareholder, Tianjin Municipal Investment Co., Ltd., holds 715,565,186 shares, representing 45.57% of the total shares[4] Cash Flow - The company reported a net cash flow from operating activities of RMB 73,867.5 million, which decreased by 10.14% year-on-year[2] - Net cash flow from operating activities for the first three quarters of 2024 was CNY 738,675, down 10.2% from CNY 822,062 in the first three quarters of 2023[16] - Cash inflow from financing activities was CNY 10,008 in the first three quarters of 2024, a significant decrease from CNY 305,955 in the same period of 2023[17] - The company reported a cash flow net decrease of CNY -143,754 thousand for the first three quarters of 2024, compared to CNY -589,420 thousand in the same period of 2023[22] Research and Development - Research and development expenses for the first three quarters of 2024 were RMB 30,861 thousand, compared to RMB 23,725 thousand in the same period of 2023, indicating a significant increase of 30.2%[13] - Research and development expenses rose to CNY 16,233 in the first three quarters of 2024, up from CNY 7,905 in the same period of 2023[20] Profitability Metrics - The basic earnings per share for the quarter was RMB 0.16, an increase of 14.29% year-on-year[2] - The weighted average return on net assets was 2.72%, an increase of 0.18 percentage points compared to the previous year[2] - The gross profit margin for the first three quarters of 2024 was approximately 26.4%, compared to 24.0% in the same period of 2023, indicating an improvement in profitability[13]

Financial Performance - The company's operating revenue for the first half of 2024 was RMB 221,816.6 million, representing a 5.18% increase compared to RMB 210,896.6 million in the same period last year[14]. - Net profit attributable to shareholders for the first half of 2024 was RMB 42,192.8 million, a decrease of 3.64% from RMB 43,784.6 million in the previous year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 38,167.8 million, down 4.89% from RMB 40,132.2 million year-on-year[14]. - Basic earnings per share for the reporting period was RMB 0.27, a decrease of 3.57% compared to RMB 0.28 in the same period last year[15]. - Diluted earnings per share also stood at RMB 0.27, reflecting a 3.57% decline year-on-year[15]. - The weighted average return on net assets decreased to 4.58%, down by 0.52 percentage points from 5.10% in the previous year[15]. - Operating revenue increased by 5.18% to RMB 221,816.6 million, driven by higher water treatment service volumes and new project operations[34]. - Net profit for the first half of 2024 was RMB 460,678 thousand, a slight increase from RMB 455,045 thousand in the first half of 2023, representing a growth of 1.4%[149]. - The company reported a total profit of RMB 570,184 thousand for the first half of 2024, compared to RMB 566,694 thousand in the previous year, indicating a growth of 0.9%[149]. Cash Flow and Financial Position - The net cash flow from operating activities decreased significantly by 38.67%, amounting to RMB 43,899.9 million compared to RMB 71,575.3 million in the previous year[14]. - Cash flow from operating activities decreased, primarily due to lower receipts from wastewater treatment service fees compared to the previous year[35]. - Operating cash inflow for the first half of 2024 was CNY 1,655,496 thousand, a decrease of 14.5% compared to CNY 1,936,866 thousand in the same period of 2023[156]. - Net cash flow from operating activities for the first half of 2024 was CNY 438,999 thousand, down 38.7% from CNY 715,753 thousand in the first half of 2023[157]. - Total cash and cash equivalents at the end of the first half of 2024 amounted to CNY 2,595,454 thousand, down from CNY 2,999,928 thousand at the end of the first half of 2023[158]. - The company's current ratio improved to 1.56 from 1.45, reflecting a 7.59% increase in current assets compared to the end of the previous year[138]. - The cash interest coverage ratio decreased significantly to 2.01 from 5.00, representing a 59.80% decline due to reduced operating cash flow[138]. - The company's total liabilities increased to CNY 14,638,056, up from CNY 14,244,893, indicating a growth of 2.76%[142]. - The company's total assets reached CNY 25,047,157, an increase from CNY 24,460,654, marking a growth of 2.39%[142]. Strategic Initiatives and Business Development - The company is focusing on expanding its strategic new businesses, including renewable energy and waste treatment, to complement its core operations[21]. - The market for recycled water utilization is expected to grow significantly, driven by new regulations promoting its use in various sectors[19]. - The company aims to enhance its operational efficiency through the integration of wastewater treatment and pipeline maintenance[19]. - By 2030, the energy-saving and environmental protection industry is projected to reach a scale of approximately RMB 15 trillion, creating further market opportunities[20]. - The company is actively exploring new business areas such as energy storage and hazardous waste treatment to diversify its revenue streams[20]. - Recent government policies are expected to facilitate large-scale equipment upgrades in the water services market, enhancing growth potential[18]. - The company has established a comprehensive business model combining sewage, reclaimed water, sludge, new energy cooling and heating, and photovoltaic power generation[29]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and drive future growth[155]. Research and Development - R&D expenses rose by 79.94% to RMB 2,082.8 million, reflecting increased investment in research and development[34]. - The company obtained 18 authorized patents during the reporting period, including 5 invention patents and 12 utility model patents[25]. - Research and development expenses increased significantly to RMB 177,272 thousand, compared to RMB 118,987 thousand in the first half of 2023, marking a rise of 49.2%[149]. Risk Management and Compliance - The company faces risks related to government credit, as wastewater treatment service fees are primarily sourced from government payments[43]. - Policy changes pose a risk to the company's business model, particularly in the environmental and public utility sectors[44]. - The company emphasizes the importance of enhancing operational management to mitigate risks associated with environmental regulations and compliance[49]. - The company is committed to strengthening comprehensive risk management and improving its risk control capabilities[48]. - The company has implemented a risk identification list and enhancing safety management practices[32]. Corporate Governance and Shareholder Matters - The company held its first extraordinary general meeting of 2024 on January 16, 2024, where new directors were elected, including Mr. Tang Fusheng and Mr. Wang Yongwei[51]. - The annual general meeting for 2023 and the first A and H share class meetings for 2024 are scheduled for June 5, 2024, where 11 proposals, including the annual report, were approved[51]. - The stock option incentive plan involves up to 152 participants, including directors and key personnel, aimed at aligning interests between shareholders and management[57]. - The company is focused on enhancing its governance structure through the stock option incentive plan to motivate key personnel[56]. - The company has adhered to the corporate governance code as per the stock exchange rules throughout the reporting period[95]. Environmental Impact and Compliance - The company operates 54 wastewater treatment projects, with most adhering to the national Class A discharge standards, specifically GB18918-2002[78]. - The company achieved a cumulative reduction of pollutants, including 200,800 tons of COD, 27,700 tons of total nitrogen, 26,800 tons of ammonia nitrogen, and 3,200 tons of total phosphorus, contributing significantly to water environment management[85]. - The company has implemented measures to reduce carbon emissions through new energy cooling and heating services, distributed photovoltaic power generation, and digital transformation projects[86]. - The company conducts annual environmental self-monitoring according to national requirements, with results publicly disclosed on local environmental information monitoring platforms[83]. - The company has developed emergency response plans for sudden environmental incidents, which have been reviewed and filed with local environmental protection bureaus[82]. Shareholder Structure and Equity - The top shareholder, Municipal Investment, holds 715,565,186 shares, representing 45.57% of the total shares[116]. - The second largest shareholder, Hong Kong Central Clearing (Agent), holds 337,846,810 shares, accounting for 21.51%[116]. - The total number of shares held by the top ten shareholders includes significant stakes from various entities, with no shares pledged or frozen for most[116]. - The company has no strategic investors among the top ten shareholders[118]. - The company has a total of 57,642 ordinary shareholders as of June 30, 2024, including 62 H-share shareholders[115]. Financial Reporting and Accounting Policies - The financial report was approved by the board of directors on August 23, 2024[181]. - The company's financial statements comply with the requirements of the Accounting Standards for Business Enterprises, reflecting the financial position as of June 30, 2024[185]. - The accounting period for the company runs from January 1 to December 31, with the current financial report covering the first half of 2024[186]. - The company’s accounting policies are determined based on its operational characteristics, including the measurement of expected credit losses on receivables[184]. - The company has established a continuous operation basis for its financial statements[183].

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，概不對因本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。 （股份代號 ： 1065） （於中華人民共和國註冊成立之股份有限公司） 截至2024年6月30日止六個月中期業績公告 §1 重要提示 1.1 天津創業環保集團股份有限公司（「本公司」）董事會（「董事會」）、監事會及 董事（「董事」）、監事（「監事」）及高級管理人員保證2024年中期報告（「中期報 告」）內容的真實性、準確性、完整性，不存在虛假記載、誤導性陳述或重大 遺漏，並承擔個別和連帶的法律責任。 1.2 本公司截至2024年6月30日止六個月的中期財務報告未經審計。 1.3 是否存在被控股股東及其關聯方非經營性佔用資金情況？ 否 1.4 是否存在違反規定決策程序對外提供擔保的情況？ 否 1.5 本公司負責人唐福生先生、主管會計工作負責人聶豔紅女士及會計機構負 責人（會計主管人員）劉濤先生聲明：保證中期報告中財務報告的真實、準 確、完整。 1 §2 本公司基本情況 董事會秘書 香港公司秘書 證券事務代 ...

Financial Performance - The company's operating revenue for Q1 2024 was RMB 108,027.8 million, representing a year-on-year increase of 10.61%[3] - Net profit attributable to shareholders for the same period was RMB 25,159.6 million, reflecting a growth of 21.00% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 23,496.5 million, up by 23.13% year-on-year[3] - The basic earnings per share for Q1 2024 was RMB 0.16, an increase of 23.24% from the same period last year[3] - Operating profit for Q1 2024 was RMB 301,742 thousand, up 12.1% from RMB 268,945 thousand in Q1 2023[17] - Net profit attributable to shareholders for Q1 2024 was RMB 251,596 thousand, representing a 21.0% increase compared to RMB 207,939 thousand in Q1 2023[18] - Net profit for Q1 2024 reached RMB 145,009 thousand, representing a 34.7% increase compared to RMB 107,626 thousand in Q1 2023[26] Assets and Liabilities - The total assets at the end of the reporting period were RMB 2,465,827.2 million, showing a slight increase of 0.81% from the end of the previous year[3] - The equity attributable to shareholders at the end of the reporting period was RMB 937,377.3 million, up by 2.76% compared to the end of the previous year[3] - The company's total assets amounted to RMB 24,658,272 thousand, an increase from RMB 24,460,654 thousand as of December 31, 2023, reflecting a growth of approximately 0.81%[13] - The company's current assets totaled RMB 6,518,845 thousand, up from RMB 6,235,654 thousand, indicating an increase of about 4.55%[13] - Long-term borrowings increased to RMB 7,859,809 thousand from RMB 7,257,625 thousand, representing a rise of approximately 8.29%[15] - The company's total liabilities decreased slightly to RMB 14,191,329 thousand from RMB 14,244,893 thousand, a reduction of about 0.37%[15] - Total liabilities as of March 31, 2024, were RMB 8,871,934 thousand, an increase of 3.6% from RMB 8,559,259 thousand as of December 31, 2023[23] Cash Flow - The net cash flow from operating activities was negative at RMB -5,396.8 million, with a significant change of 45.23% due to higher operating receipts compared to the same period last year[5] - Cash flow from operating activities for Q1 2024 was RMB 561,326 thousand, compared to RMB 518,235 thousand in Q1 2023[19] - Cash flow from operating activities showed a net outflow of RMB 267,831 thousand in Q1 2024, compared to a net outflow of RMB 376,793 thousand in Q1 2023[27] - Cash flow from investing activities resulted in a net outflow of RMB 78,850 thousand in Q1 2024, compared to a net outflow of RMB 498,275 thousand in Q1 2023[28] - Cash flow from financing activities generated a net inflow of RMB 27,101 thousand in Q1 2024, down from RMB 589,118 thousand in Q1 2023[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,240[6] - The largest shareholder, Tianjin Municipal Investment Co., Ltd., held 715,565,186 shares, accounting for 45.57% of the total shares[7] Research and Development - Research and development expenses increased to RMB 8,344 thousand in Q1 2024, up from RMB 5,717 thousand in Q1 2023, reflecting a focus on innovation[17] - Research and development expenses increased significantly to RMB 4,169 thousand in Q1 2024, up 147.8% from RMB 1,684 thousand in Q1 2023[25] Operational Changes - The new wastewater treatment service fee price is set to be RMB 2.13 per cubic meter, effective from January 1, 2024, down from the previous price of RMB 2.32 per cubic meter[11] - The company has completed the upgrade of four wastewater treatment plants, which began commercial operation in June 2016, and has been operating under the new discharge standards for over two years[11] - The company is in the process of signing supplementary agreements regarding the adjusted wastewater treatment service fee based on third-party audit results[12] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[17]

Financial Performance - The net profit attributable to the company for 2023 is RMB 865,207,128.31, after deducting the statutory surplus reserve of RMB 64,195,627.55 and adding the undistributed profit at the beginning of the year of RMB 5,075,506,443.79[3] - The actual distributable profit for shareholders in 2023 is RMB 5,650,377,740.31, with a proposed cash dividend of RMB 1.66 per 10 shares, totaling RMB 260,689,402.11, which accounts for 30.13% of the distributable profit[3] - The company has received a standard unqualified audit report from PricewaterhouseCoopers Zhong Tian LLP, affirming the accuracy of the financial statements[3] - The company did not propose any capital reserve conversion to increase share capital for the year 2023, indicating a focus on cash dividends instead[3] - The company's operating revenue for 2023 was RMB 466,508.30 million, an increase of 3.16% compared to RMB 452,216.70 million in 2022[20] - Net profit attributable to shareholders for 2023 was RMB 86,520.70 million, up from RMB 75,125.40 million in 2022, reflecting a growth of 15.17%[20] - The net cash flow from operating activities for 2023 was RMB 99,201.50 million, representing an 8.77% increase from RMB 91,205.10 million in 2022[20] - Total assets at the end of 2023 reached RMB 2,446,065.40 million, a 6.49% increase from RMB 2,296,967.40 million at the end of 2022[20] - The net assets attributable to shareholders at the end of 2023 were RMB 912,217.70 million, up 7.58% from RMB 847,947.30 million at the end of 2022[20] - Basic earnings per share for 2023 were RMB 0.55, compared to RMB 0.51 in 2022, marking an increase of 7.84%[21] Governance and Compliance - The company has confirmed no non-operational fund occupation by controlling shareholders or related parties, ensuring financial integrity[4] - The company has not reported any major risk warnings or violations of decision-making procedures regarding external guarantees, reflecting stable governance practices[4] - The company has established a clear governance framework to ensure accountability and transparency in its operations, aligning with regulatory standards[82] - The board of directors consists of 9 members, with the current term ending on September 8, 2025[85] - The company has revised its governance structure and internal regulations to ensure compliance with regulatory requirements and protect shareholder interests[81] - The company emphasizes the importance of legal compliance and risk management, particularly in relation to government payment obligations and potential defaults on service fees[76] - The company has established a comprehensive risk management framework to identify, analyze, and respond to various policy risks and operational challenges[78] Strategic Development - The company plans to focus on external project development funding arrangements for 2024, indicating ongoing investment in growth[3] - The company remains in a development phase, suggesting potential for future growth and expansion in environmental protection projects[3] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[20] - The company aims to develop a new business model integrating five core services: wastewater, reclaimed water, sewage source heat pumps, sludge, and photovoltaic energy storage[59] - The company is committed to becoming a leading professional service provider in the water treatment and resource utilization sector by the end of the 14th Five-Year Plan[69] - The company will continue to focus on the water industry, expanding through a strategy of "one body and two wings," with water treatment and resource utilization as the core and new energy development and sludge treatment as the wings[69] Environmental Management - The company achieved a cumulative reduction of environmental pollutants, including a reduction of COD by approximately 390,000 tons, total nitrogen by about 53,500 tons, ammonia nitrogen by around 52,500 tons, and total phosphorus by approximately 6,600 tons, contributing significantly to water body environmental management[194] - The company has established emergency response plans for sudden environmental incidents, which have been reviewed and filed with local environmental protection bureaus[197] - The company conducted environmental self-monitoring in accordance with national requirements, with monitoring results publicly disclosed on local environmental information monitoring platforms[198] - The company’s wastewater treatment projects have passed the necessary environmental impact assessments and received approvals from environmental protection departments[196] Shareholder Engagement - The total cash dividends proposed for 2023 are subject to approval at the annual general meeting, highlighting the importance of shareholder engagement[3] - The company’s profit distribution policy must be approved by at least two-thirds of the voting rights at the shareholders' meeting[149] - The company will consider the opinions of shareholders, especially minority shareholders, during the decision-making process for profit distribution[150] - The company has established a mechanism for small and medium shareholders to express their opinions and participate in decision-making processes regarding profit distribution[155] Research and Development - The company completed 47 authorized patents in 2023, including 9 invention patents and 38 utility model patents[40] - R&D expenses increased by 21.87% to RMB 5,306.20 million, reflecting higher investments in research and development[45] - The total R&D investment for the period was RMB 5,306.20 million, representing 1.14% of operating revenue[55] - Research and development investment for 2024 is planned to be no less than 1.25% of annual operating revenue, focusing on new processes and applied technologies in wastewater treatment, sludge treatment, and new energy[72] Operational Efficiency - The company effectively coordinated financing efforts, reducing financing costs and strengthening accounts receivable management during the reporting period[33] - The company has established five regional development platforms to enhance operational efficiency and management effectiveness[31] - The company implemented a new salary performance system aimed at aligning employee compensation with economic performance[30] - The company is committed to enhancing its operational management through standardized practices, staff training, and improved technical control to mitigate production risks[79] Risk Management - The company is facing operational risks due to the need for wastewater treatment plants to upgrade to meet new environmental standards, which may lead to increased operational and renovation costs[75] - The company recognizes the risk of government credit affecting cash flow, as wastewater treatment service fees are primarily sourced from government accounts[73] - The company is actively monitoring changes in the legal environment that could negatively impact its operations and financial stability[76] Corporate Governance - The company has established a performance evaluation mechanism for senior management, linking their annual salary to the completion of personal and overall business performance goals[185] - The company has a shareholding management system that limits the transfer of shares by directors and senior management to 25% of their total holdings annually[83] - The company has implemented measures to strengthen communication with local governments and regulatory bodies to enhance operational efficiency[79] - The company has established a cash dividend policy that prioritizes cash dividends over stock dividends, ensuring a clear and transparent decision-making mechanism[145]

Financial Performance - The company's operating revenue for 2023 was RMB 466,508.30 million, an increase of 3.16% compared to RMB 452,216.70 million in 2022[6]. - Net profit attributable to shareholders for 2023 reached RMB 86,520.70 million, reflecting a growth of 15.17% from RMB 75,125.40 million in the previous year[6]. - The net cash flow from operating activities was RMB 99,201.50 million, up 8.77% from RMB 91,205.10 million in 2022[6]. - Total assets as of the end of 2023 amounted to RMB 2,446,065.40 million, a 6.49% increase from RMB 2,296,967.40 million in 2022[6]. - The company's net assets attributable to shareholders increased by 7.58% to RMB 912,217.70 million from RMB 847,947.30 million in 2022[6]. - Basic earnings per share for 2023 were RMB 0.55, up from RMB 0.51 in 2022, marking an increase of 7.84%[7]. - Total profit reached RMB 110,621.00 million, reflecting a growth of 14.12% year-over-year[26]. - The company achieved operating revenue of RMB 466,508.3 million in 2023, an increase of 3.16% compared to the previous year[26]. - The company reported a decrease in contract liabilities from RMB 513,471 thousand in 2022 to RMB 411,780 thousand in 2023, a reduction of approximately 19.8%[76]. - The proposed cash dividend for 2023 is RMB 1.66 per 10 shares, totaling RMB 260,689,402.11, which represents 30.13% of the distributable profit[66]. Operational Developments - The company successfully expanded its wastewater treatment capacity by 27,000 tons per day and initiated construction on three new wastewater treatment plants during the year[11]. - The company achieved revenue of RMB 147 million from multiple light asset projects developed during the year[11]. - The company has established a market development incentive policy to enhance project sourcing capabilities and successfully launched several strategic projects[11]. - The company is focusing on optimizing operational management and cost control to enhance economic efficiency and development quality[10]. - The company is focusing on optimizing its management system and enhancing operational efficiency by restructuring its organizational framework and establishing five regional development platforms[13]. - The company is committed to advancing its technological capabilities and fostering innovation through a robust information-sharing system[14]. - The company launched 11 new environmental protection products and received 47 authorized patents in 2023[24]. - The company continues to enhance its operational efficiency and digital transformation, completing IoT platform integration for all five regional wastewater treatment plants[24]. Research and Development - R&D expenses increased by 21.87% to RMB 5,306.20 million, reflecting higher investments in research and development[27]. - The total R&D investment amounted to RMB 5,306.20 million, accounting for 1.14% of operating revenue[40]. - The company has 365 R&D personnel, representing 16.22% of the total workforce[41]. - The company plans to invest no less than 1.25% of annual operating revenue in R&D for new technologies in wastewater treatment and renewable energy[57]. Market and Industry Trends - In the renewable energy sector, the national installed capacity for solar power reached 60,949 MW in 2023, a year-on-year increase of 55.2%, while total installed capacity for wind power grew by 20.7% to 44,134 MW[17]. - The "14th Five-Year Plan" period is identified as a critical window for achieving carbon peak goals and developing new energy storage solutions, with a focus on market-oriented operations[18]. - The national energy policy aims to promote the consumption of renewable energy and enhance the credibility of green electricity certificates, which will benefit the solar power industry[17]. - The trend in the sludge and solid waste treatment sector is towards resource utilization, driven by technological innovation and cost reduction[53]. - The photovoltaic power generation sector is expected to continue growing, driven by increasing electricity demand and decreasing costs[52]. Financial Management and Risks - The company is actively working to reduce financing costs and improve accounts receivable management through a comprehensive budget management approach[15]. - The company faces risks related to government credit, as wastewater treatment fees are primarily sourced from government accounts, making them reliant on government financial health[58]. - The company is addressing operational management risks due to the need for upgrades in wastewater treatment plants to meet new standards[60]. - The company emphasizes the importance of legal compliance to mitigate risks associated with contract defaults and government payment delays[61]. - The company aims to enhance its risk management framework to identify and respond to various policy risks effectively[63]. Strategic Focus - The company aims to become a leading enterprise in the domestic water treatment and resource utilization sector by the end of the 14th Five-Year Plan[54]. - The strategic focus includes water treatment and resource utilization as the core, with new energy development and sludge and organic solid waste treatment as the two wings[54]. - The company plans to optimize its national layout by focusing on key regions such as Beijing-Tianjin-Hebei, Yangtze River Basin, Yellow River Basin, and Guangdong-Hong Kong-Macau Greater Bay Area[54]. - The company is committed to strengthening its management mechanism and optimizing its talent system through performance-based reforms[54]. - The company has conducted a mid-term evaluation of its development strategy and established a three-year action plan to implement its "14th Five-Year" strategic plan[55].

Financial Performance - Operating revenue for Q3 2023 was RMB 115,300.4 million, an increase of 4.37% year-on-year[3]. - Net profit attributable to shareholders for Q3 2023 was RMB 22,338.2 million, a decrease of 5.57% year-on-year[3]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 20,234.5 million, down 8.32% year-on-year[3]. - Total revenue for the first three quarters of 2023 was RMB 3,261,970 thousand, slightly up from RMB 3,234,017 thousand in the same period of 2022, indicating a growth of about 0.9%[14]. - Operating profit for the first three quarters of 2023 was RMB 843,695 thousand, compared to RMB 822,496 thousand in 2022, reflecting an increase of approximately 2.6%[14]. - Net profit attributable to shareholders for the first three quarters of 2023 was RMB 661,228 thousand, up from RMB 632,921 thousand in 2022, marking an increase of about 4.5%[15]. - The company reported a net profit of RMB 565,250 thousand for the first three quarters of 2023, representing a 13.1% increase from RMB 499,933 thousand in the same period of 2022[21]. Earnings and Shareholder Metrics - The basic earnings per share for Q3 2023 was RMB 0.14, a decrease of 17.65% year-on-year[3]. - The diluted earnings per share for Q3 2023 was also RMB 0.14, reflecting the same decrease of 17.65% year-on-year[3]. - The company reported a basic earnings per share of RMB 0.42 for the first three quarters of 2023, down from RMB 0.44 in the same period of 2022[15]. - The weighted average return on equity was 2.54%, a decrease of 0.48 percentage points year-on-year[3]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 2,459,767.8 million, an increase of 7.09% compared to the end of the previous year[3]. - Total assets reached RMB 24,597,678 thousand, an increase from RMB 22,969,674 thousand as of December 31, 2022, representing an increase of approximately 7.1%[10]. - Current liabilities totaled RMB 4,051,899 thousand as of September 30, 2023, compared to RMB 3,346,823 thousand at the end of 2022, an increase of about 21.1%[12]. - Long-term borrowings rose to RMB 7,551,381 thousand as of September 30, 2023, up from RMB 7,097,305 thousand at the end of 2022, indicating an increase of approximately 6.4%[13]. - Total liabilities increased to RMB 14,553,233 thousand as of September 30, 2023, compared to RMB 13,467,381 thousand at the end of 2022, reflecting an increase of approximately 8.1%[13]. - The company’s total liabilities amounted to RMB 8,617,943 thousand, an increase from RMB 8,359,816 thousand at the end of 2022[20]. Equity and Shareholder Information - Shareholders' equity attributable to the company was RMB 891,772.7 million, up 5.17% from the previous year[3]. - The company’s total equity reached RMB 10,044,445 thousand as of September 30, 2023, compared to RMB 9,502,293 thousand at the end of 2022, representing an increase of about 5.7%[13]. - The total number of ordinary shareholders at the end of the reporting period was 60,897, with the largest shareholder holding 45.57% of the shares[5]. Cash Flow and Investment Activities - Net cash flow from operating activities was RMB 822,062 thousand, up 17.3% from RMB 701,019 thousand year-on-year[17]. - Operating cash inflow for the first three quarters of 2023 reached RMB 2,018,989 thousand, a significant increase of 64.8% compared to RMB 1,224,926 thousand in the same period of 2022[22]. - Cash inflow from financing activities was RMB 2,120,527 thousand, a decrease of 25.1% from RMB 2,829,359 thousand in the previous year[18]. - Investment activities resulted in a net cash outflow of RMB 1,304,208 thousand, significantly higher than the outflow of RMB 435,302 thousand in the same period last year[17]. - Cash inflow from investment activities was RMB 93,860 thousand, a decline of 34.5% from RMB 143,027 thousand in the first three quarters of 2022[22]. - Net cash flow from investment activities was RMB -610,424 thousand, a significant drop from RMB 21,835 thousand in the same period last year[22]. Research and Development - Research and development expenses increased to RMB 23,725 thousand in 2023 from RMB 13,327 thousand in 2022, representing an increase of approximately 78.4%[14]. - Research and development expenses rose to RMB 7,905 thousand, a substantial increase from RMB 1,700 thousand in the same period of 2022[21]. Cash Management - Total cash and cash equivalents at the end of September 2023 were RMB 3,012,153 thousand, down from RMB 3,230,591 thousand at the end of 2022[18]. - Total cash and cash equivalents at the end of September 2023 stood at RMB 1,685,852 thousand, down from RMB 2,062,111 thousand at the end of September 2022[23]. - The net increase in cash and cash equivalents for the first three quarters of 2023 was RMB -589,420 thousand, contrasting with an increase of RMB 1,082,504 thousand in 2022[23]. - Cash received from operating activities related to other business activities surged to RMB 1,135,682 thousand, compared to RMB 360,029 thousand in the same period last year, marking a 215.5% increase[22]. - Cash paid for purchasing goods and services decreased to RMB 387,236 thousand, down 29.3% from RMB 547,833 thousand in the previous year[22]. - Cash outflow for debt repayment was RMB 1,078,143 thousand, a decrease of 9.9% compared to RMB 1,196,315 thousand in the same period last year[23]. - Cash inflow from financing activities totaled RMB 1,478,495 thousand, down 42.2% from RMB 2,550,341 thousand in the first three quarters of 2022[23].