Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 236,020 thousand, a decrease of 9.1% from RMB 259,779 thousand in the same period of 2021[13] - Profit before tax for the same period was RMB 55,112 thousand, down 40.6% from RMB 92,749 thousand in 2021[13] - Net profit attributable to the owners of the parent company was RMB 31,597 thousand, a decline of 48.0% compared to RMB 60,892 thousand in the previous year[13] - Basic and diluted earnings per share for the period were RMB 0.16, down from RMB 0.30 in the same period of 2021, indicating a decrease of 46.7%[13] - The company's revenue decreased by RMB 23.8 million or 9.2% to approximately RMB 236.0 million for the six months ended June 30, 2022, compared to RMB 259.8 million for the same period in 2021[18] - The group's revenue from municipal water supply decreased by RMB 29.5 million or 17.2% to approximately RMB 142.1 million, primarily due to a reduction in sales volume[21] - The group's gross profit decreased by RMB 22.4 million or 19.0% to approximately RMB 95.7 million, with a gross margin decline from 45.5% to 40.6%[21] - The total comprehensive income for the period was RMB 37,378 thousand, down 45.6% from RMB 68,807 thousand in the same period of 2021[41] Assets and Liabilities - Total assets as of June 30, 2022, increased to RMB 5,236,486 thousand from RMB 4,855,907 thousand as of December 31, 2021, representing an increase of 7.8%[14] - Total liabilities rose to RMB 4,088,740 thousand from RMB 3,725,539 thousand, marking an increase of 9.7%[14] - The net asset value as of June 30, 2022, was RMB 1,147,746 thousand, compared to RMB 1,130,368 thousand at the end of 2021, reflecting a growth of 1.5%[14] - The group's cash and bank balances were approximately RMB 232.7 million as of June 30, 2022, compared to approximately RMB 190.7 million as of December 31, 2021[24] - The total borrowings of the group were approximately RMB 3,105.0 million as of June 30, 2022, compared to approximately RMB 2,742.0 million as of December 31, 2021[24] - The group's debt-to-equity ratio increased to 270.5% as of June 30, 2022, from 242.6% as of December 31, 2021, primarily due to new borrowings for the water supply system projects[24] - Trade receivables decreased to approximately RMB 90.5 million as of June 30, 2022, from approximately RMB 100.4 million as of December 31, 2021, due to reduced municipal water revenue[24] Operational Highlights - Water sales volume for raw water was 58.9 million tons, an increase of 0.4 million tons compared to 58.5 million tons for the six months ended June 30, 2021[17] - Municipal water sales volume decreased by 11.6 million tons to 58.7 million tons, down from 70.3 million tons for the same period in 2021[17] - The company reported installation service income of approximately RMB 11.9 million, an increase of RMB 5.1 million or 75% compared to RMB 6.8 million for the six months ended June 30, 2021[17] - The total designed raw water supply capacity is expected to reach 1,220,000 tons per day after the completion of the new water supply systems, representing an increase of 104.9% from the current two systems[17] - The construction of the Taizhou Water Supply System (Phase III) and (Phase IV) has been largely completed, with trial water supply starting in July 2022[15] Strategic Initiatives - The company continues to explore new strategies for market expansion and product development to enhance future performance[13] - The company is actively exploring ecological and environmental protection sectors, focusing on wastewater treatment, reclaimed water utilization, and solid waste disposal[15] - The company has successfully completed the integration of water services and acquired stakes in other local water supply companies to enhance its market position[15] - The company aims to become a leading water service provider in the Yangtze River Delta region through strategic development and resource integration[15] Shareholder Information - The group did not declare an interim dividend for the six months ended June 30, 2022, compared to no dividend declared for the same period in 2021[27] - Major shareholder Taizhou State-owned Capital Operation Group Co., Ltd. holds 43,250,855 shares, representing 28.83% of the domestic shares and 21.63% of the total issued shares[32] - The total number of shares held by major shareholders indicates a significant concentration of ownership within the company[32] - The company has multiple major shareholders, including state-owned enterprises and investment groups, reflecting a diverse ownership structure[32] Financial Costs and Income - The company reported income tax expenses of RMB (17,521) thousand, compared to RMB (23,942) thousand in the previous year, showing a reduction of 26.9%[13] - Other income and gains decreased by RMB 2.2 million or 29.7% to approximately RMB 5.2 million, mainly due to a reduction in revenue and VAT refunds[23] - Financial costs increased by RMB 0.9 million or 13.6% to approximately RMB 7.5 million, mainly due to new loans[23] - The group's bank borrowings were approximately RMB 3,105.0 million as of June 30, 2022, compared to 2,742.0 million as of December 31, 2021, indicating an increase in leverage[27] Employee and Management Information - The group had 230 employees as of June 30, 2022, up from 199 employees as of June 30, 2021, with employee benefit expenses amounting to approximately RMB 36.6 million during the reporting period[27] - The total compensation paid to key management personnel was RMB 2,441 thousand for the six months ended June 30, 2022, representing an increase of 4.4% from RMB 2,339 thousand in the same period of 2021[102]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[8]. - The company's revenue for the year ended December 31, 2021, was RMB 520,279,000, an increase of 7.3% from RMB 483,796,000 in 2020[18]. - The profit before tax for 2021 was RMB 178,898,000, up 14.5% from RMB 156,235,000 in the previous year[18]. - The net profit for the year was RMB 134,991,000, representing a 16.3% increase compared to RMB 116,229,000 in 2020[18]. - The company's revenue for 2021 was approximately RMB 520.3 million, up from RMB 483.8 million in the previous year, representing an increase of about 7.8%[21]. - Net profit for the year was approximately RMB 135.0 million, compared to RMB 116.2 million in the previous year, reflecting a growth of around 16.1%[21]. - Basic earnings per share for 2021 were RMB 0.60, an increase from RMB 0.52 in 2020[18]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[72]. - The company has set a future outlook with a revenue target of 1.5 billion RMB for the next fiscal year, indicating a projected growth of 25%[72]. User Growth and Market Expansion - User data indicates that the customer base expanded by 20%, reaching 500,000 active users by the end of the fiscal year[8]. - The company plans to expand its market presence by entering two new provinces in China, aiming for a 5% market share in these regions within the next three years[8]. - The company is planning to expand its market presence by entering two new provinces, which is anticipated to contribute an additional 200 million RMB in revenue[59]. - The company is expanding its market presence, targeting three new cities for service expansion in the next year[63]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance market share by 5%[63]. - A strategic acquisition of a local competitor is in progress, which is expected to increase market share by 15% and enhance service capabilities[59]. Product Development and Innovation - New product development includes the launch of a smart water meter system, expected to enhance operational efficiency and customer satisfaction[8]. - New product development includes the launch of a smart water management system, expected to enhance operational efficiency by 30%[72]. - The company has invested 50 million RMB in research and development for innovative water treatment technologies aimed at improving service quality[59]. - The company has invested 50 million RMB in research and development for new technologies aimed at improving water quality monitoring[72]. Operational Efficiency and Cost Management - Operational efficiency improvements are expected to reduce costs by 8% over the next year through process optimization[8]. - Operational efficiency improvements are projected to reduce overall costs by 8% through the implementation of new technologies[59]. - The company aims to enhance customer satisfaction scores by 10% through improved service delivery and user engagement initiatives[59]. - The company plans to implement cost-cutting measures that could reduce operational expenses by 8%[63]. - Operational costs have been reduced by 5% due to improved efficiency measures implemented over the past year[72]. Sustainability and Environmental Commitment - The company is committed to sustainability, with plans to reduce water waste by 15% through new conservation initiatives[8]. - Future guidance includes maintaining a focus on sustainable practices, with a target of reducing carbon emissions by 20% over the next five years[59]. - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by 20% over the next five years[72]. - The company is actively seeking methods for environmental sustainability while considering its social and economic responsibilities[100]. Governance and Corporate Structure - The board of directors has approved a dividend payout of 0.2 RMB per share, reflecting a 10% increase from the previous year[8]. - The company has adopted a corporate governance code and has complied with its provisions during the reporting period[156]. - The board consists of 15 members, including 2 executive directors, 8 non-executive directors, and 5 independent non-executive directors[172]. - The company has established a robust internal control and risk management system to oversee operational and financial performance[175]. - The company has confirmed compliance with the standard code of conduct by all directors and supervisors during the reporting period[197]. Employee and Management Information - The company had 206 employees as of December 31, 2021, an increase from 194 employees in the previous year[58]. - Employee benefits expenses for the reporting period were approximately RMB 62.8 million, compared to RMB 52.5 million for the previous year[58]. - The company places significant importance on maintaining good employer-employee relations to retain staff effectively[105]. - The company encourages continuous professional development for directors, covering topics such as compliance and regulatory updates[178]. Acquisitions and Investments - A strategic acquisition of a local water utility company is in progress, which is projected to increase the company's service capacity by 30%[8]. - The company agreed to acquire 45% equity in Taizhou Water and Jiao Bei Water for a total consideration of RMB 46.60 million, which is subject to adjustments[54]. - The acquisition of Luqiao Water's 45% equity was agreed upon for RMB 124.42 million, with adjustments applicable[56]. - The company completed the acquisition of Huangyan Water on October 27, 2021, which was approved by shareholders at a special meeting[132]. Financial Management and Reporting - The financial report for 2021 was prepared in accordance with Hong Kong Financial Reporting Standards and received an unqualified opinion from independent auditors[171]. - The audit committee reviews the internal control system annually[196]. - The total fees paid/owed to Ernst & Young for audit services during the reporting period amounted to RMB 5,160,000[199].

台州市水務集團股份有限公司 Taizhou Water Group Co., Ltd. (於中華人民共和國註冊成立的股份有限公司) 股票代號：1542 中期報告 2021 * 僅供藏別 目錄 | --- | --- | |----------------------------------|-------| | | | | 公司資料 | 2 | | 釋義 | 4 | | 財務摘要 | 6 | | 管理層討論及分析 | 7 | | 其他資料 | 17 | | 中期簡明綜合損益及其他全面收益表 | 23 | | 中期簡明綜合財務狀況表 | 24 | | 中期簡明綜合權益變動表 | 26 | | 中期簡明綜合現金流量表 | 28 | | 中期簡明綜合財務報表附註 | 30 | 台州市水務集團股份有限公司 // 2021 年中報 2 公司資料 | --- | --- | |-------------------------|-------------------------------------------| | | | | 董事會 | 審核委員會 | | 執行董事 | 李偉忠先生 （主席） | | 楊俊先生 （董 ...

(a joint stock company incorporated in the People's Republic of China with limited liability) Stock code : 1542 （於中華人民共和國註冊成立的股份有限公司） 股票代號 : 1542 年報 2020 Annual Report 2020 * 僅供識別 * for identifi cation purposes only | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|---------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目錄 2 公司資料 | | | | | | | | 4 釋義 | | | | | | ...

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 224,455,000, a slight decrease of 0.59% from RMB 225,786,000 in the same period of 2019[13]. - Profit before tax for the same period was RMB 67,242,000, down 4.99% from RMB 70,363,000 year-on-year[13]. - Net profit attributable to the owners of the parent company was RMB 43,582,000, compared to RMB 46,340,000 in the previous year, reflecting a decrease of 5.99%[13]. - Basic and diluted earnings per share for the parent company ordinary equity holders was RMB 0.22, down from RMB 0.31 in the same period last year[13]. - Income tax expense for the period was RMB 17,601,000, compared to RMB 18,474,000 in the previous year[13]. - Non-controlling interests in profit for the period were RMB 6,059,000, an increase from RMB 5,549,000 in the previous year[13]. - The average selling price of raw water, municipal water supply, and tap water decreased due to a 10% reduction in enterprise water prices, impacting revenue[17]. - Revenue from raw water supply decreased by RMB 1.5 million or 2.7% to approximately RMB 54.1 million due to a decline in sales volume attributed to COVID-19[20]. - The average selling price of municipal water decreased, offsetting some of the revenue increases from sales volume[20]. - The group's sales cost decreased from approximately RMB 1,350 million for the six months ended June 30, 2019, to approximately RMB 1,341 million, a reduction of RMB 9 million or 0.7%[21]. - Gross profit decreased from approximately RMB 907 million for the six months ended June 30, 2019, to approximately RMB 904 million, a decrease of RMB 3 million or 0.3%[21]. - Net profit for the reporting period was approximately RMB 496 million, down RMB 23 million or 4.4% from approximately RMB 519 million for the six months ended June 30, 2019, with a net profit margin decrease from 23.0% to 22.1%[23]. - The group's income tax expense decreased by RMB 9 million or 4.9% to approximately RMB 176 million for the reporting period[23]. Assets and Liabilities - Total assets increased to RMB 3,153,151 thousand as of June 30, 2020, up from RMB 2,929,328 thousand as of December 31, 2019, representing an increase of approximately 7.6%[14]. - Total liabilities rose to RMB 2,233,276 thousand, compared to RMB 2,027,109 thousand at the end of 2019, marking an increase of about 10.2%[14]. - Total equity reached RMB 919,875 thousand, a slight increase from RMB 902,219 thousand, reflecting a growth of approximately 1.9%[14]. - Trade receivables increased from approximately RMB 1,040 million as of December 31, 2019, to approximately RMB 1,216 million, attributed to extended payment terms due to COVID-19 impacts[23]. - Property, plant, and equipment increased from approximately RMB 1,772 million as of December 31, 2019, to approximately RMB 2,055 million, mainly due to new construction projects for the water supply system[23]. - The total borrowings of the company amounted to approximately RMB 1,744.0 million as of June 30, 2020, up from RMB 1,534.0 million as of December 31, 2019[26]. - The company's asset-liability ratio was 189.6% as of June 30, 2020, compared to 170.0% as of December 31, 2019, reflecting an increase in leverage[26]. - The total interest-bearing bank and other borrowings as of June 30, 2020, were RMB 1,689,000,000, compared to RMB 1,479,000,000 as of December 31, 2019, indicating an increase of approximately 14.2%[91]. Operational Highlights - The company continues to focus on expanding its market presence and enhancing operational efficiency[13]. - Future outlook includes potential investments in new technologies and infrastructure to improve service delivery[13]. - The company is exploring strategic partnerships and acquisitions to bolster growth in the water services sector[13]. - The company aims to enhance its focus on environmental protection and energy conservation, aligning with national policies to promote green development in the water services industry[15]. - The company plans to continue the construction of key projects, including the Taizhou Water Supply System Phase III and IV, which are significant for business expansion and improving the supply chain[15]. - Despite the COVID-19 pandemic, the company managed to maintain stable operations and ensure safe water supply during the first half of 2020[15]. - The company is actively exploring market-oriented mechanisms for rural water supply, which presents new opportunities for growth[15]. - The company is committed to accelerating project progress and improving quality and efficiency in response to the challenges posed by the pandemic[15]. - The company faced delays in construction progress during the first quarter of 2020 due to the pandemic but has since accelerated efforts in the second quarter[18]. Shareholder and Governance Structure - The company is fully owned by the Taizhou Urban Construction Investment Development Group Co., Ltd.[43]. - The major shareholder, Taizhou State-owned Capital Operation Group Co., Ltd., holds 43,250,855 domestic shares, accounting for 28.83% of the issued domestic shares and 21.63% of the total issued shares[39]. - The company has a diverse shareholder base, with significant stakes held by various state-owned and private entities[39]. - The governance structure includes a mix of experienced professionals in key management positions, enhancing operational oversight[35]. - The company is committed to enhancing corporate governance standards to align with statutory and professional standards[35]. - The company has adopted standard codes for securities trading by directors and supervisors, ensuring compliance throughout the reporting period[35]. - The company is focused on reviewing and improving its corporate governance practices regularly to meet the latest developments[35]. COVID-19 Impact - The company expects limited impact from the COVID-19 outbreak on its business, although future effects remain difficult to estimate[32]. - The group has no significant impact from the COVID-19 pandemic on its financial position or performance, as there were no rent concessions directly resulting from the pandemic[67]. - The group operates solely in mainland China, with all revenue generated from customers located in this region[69]. - The group has only one reportable operating segment, which is water supply and installation of water pipelines[68]. - The group’s non-current assets are also entirely located in mainland China[70].

Financial Performance - The financial year 2019 reported a total revenue of RMB 1.2 billion, representing a year-on-year increase of 15%[11] - Net profit for the year reached RMB 300 million, reflecting a growth of 20% compared to the previous year[11] - The company recorded total revenue of approximately RMB 472.1 million for the year ended December 31, 2019, a decrease of about 6.4% compared to RMB 504.3 million for the year ended December 31, 2018[20] - Gross profit for the year was approximately RMB 187.5 million, representing a decrease of about 5.0% from the previous year's gross profit[20] - Net profit for the year was approximately RMB 104.5 million, a decrease of about 13.1% compared to RMB 120.3 million in the previous year[20] - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in the latest quarter[67] - User data showed a growth of 20% in active users, totaling 5 million users by the end of the reporting period[67] - The company generated distributable profits of RMB 88.7 million for the year ended December 31, 2019, compared to RMB 105.9 million in 2018, with RMB 32.0 million proposed as a final dividend[98] Market Expansion and Strategy - The company plans to expand its market presence by increasing service coverage in Zhejiang Province, targeting a 10% growth in customer base by 2021[12] - Future guidance indicates a projected revenue growth of 12% for 2020, driven by increased demand for water services[12] - The company is exploring potential acquisitions to enhance its service capabilities, with a focus on companies in the water management sector[12] - Market expansion plans include entering two new provinces, projected to increase market share by 10%[67] - The company is considering strategic acquisitions to enhance its service portfolio, with a budget of 300 million RMB allocated for potential deals[67] Investments and Development - The company is investing RMB 50 million in technology upgrades to improve water treatment processes, aiming for a 30% reduction in operational costs[12] - New product development initiatives include the introduction of smart water meters, expected to enhance operational efficiency by 25%[12] - The company is investing 100 million RMB in R&D for new technologies aimed at improving service efficiency[67] - The company is currently constructing Phase III and Phase IV of the Taizhou water supply system, designed to meet long-term potential growth in water demand[73] Customer Satisfaction and Service Delivery - User data shows a 5% increase in customer satisfaction ratings, attributed to improved service delivery and response times[12] - The company aims to enhance customer satisfaction scores by 15% through improved service delivery and support initiatives[67] Financial Guidance and Dividends - The company proposed a dividend of RMB 0.16 per share to reward shareholders for their continued support[20] - The company has adopted a dividend policy of distributing no less than 30% of the annual distributable profit based on Chinese GAAP or HKFRS for the initial three financial years post-listing[75] - The proposed final dividend amounts to approximately RMB 32 million, to be paid to shareholders listed on the company's H-share register as of June 15, 2020[80] Governance and Management - The company is focused on enhancing its management and internal control effectiveness by restructuring its board committees and revising various management policies[22] - The company has a strong focus on professional opinions and judgments from its non-executive directors, enhancing governance[57] - The board consists of 14 members, including 2 executive directors, 7 non-executive directors, and 5 independent non-executive directors[154] - The company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Strategic Committee, each with defined responsibilities[168] Environmental and Social Responsibility - The company is committed to seeking sustainable environmental development while expanding its social and economic responsibilities[92] - The company has complied with relevant environmental laws and regulations during its operations and project construction[92] - There have been no significant environmental incidents or penalties from government authorities during the reporting period[93] Risk Management and Internal Controls - The audit committee is responsible for reviewing financial data, risk management, and internal control systems, ensuring effective internal audit functions[169] - The company has established a whistleblowing policy allowing employees and stakeholders to report concerns regarding financial reporting and internal controls[183] - The board of directors is responsible for evaluating and determining the nature and extent of risks the company is willing to take to achieve strategic objectives[182] Shareholder Engagement - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[189] - The company has maintained continuous dialogue with shareholders, particularly through annual general meetings[189] - The company’s governance report outlines procedures for shareholders to nominate director candidates, ensuring transparency in the election process[196]