Stock Performance - The stock price decreased by 3.75% on February 13, 2026, closing at HKD 0.77, while the Hang Seng Index fell by 1.74% [2] - The stock fluctuated between HKD 0.72 and HKD 0.81, with short-term moving averages exerting pressure, and the company's low liquidity makes it susceptible to market influences [2] - On January 8, 2026, the stock experienced a significant drop of 10.81%, reaching HKD 0.66 in a single day [2] Executive Changes - On December 16, 2025, the former chairman Zhang Qi resigned from his positions due to work changes, with General Manager Chen Qinan taking over as chairman and head of the strategic committee [3] Financial Performance - The mid-year report for 2025 indicated a slight decline in revenue by 0.27% to CNY 615 million, while net profit increased by 11.96% to CNY 70.856 million [4] - Attention is needed regarding the sustainability of the slight revenue decline and the short-term debt repayment pressure reflected by a current ratio of 0.91 [4] Industry Policy and Environment - The profitability of the water industry relies on water price adjustments or capacity expansion, but the company has not disclosed any significant new projects or price adjustment announcements recently [5] - Ongoing projects from peer companies may divert market attention, and the trend of industry-wide water price reforms remains a long-term observation point [5]

以上内容基于公开资料整理，不构成投资建议。 近期事件2026年2月10日，兴泸水务召开2025年度总结表彰大会，公司强调"十四五"期间供排水能力提 升，并部署"十五五"重点任务，提出"二次创业"战略，聚焦拓展开源、降本增效和数智化转型，以支持 成渝地区双城经济圈建设。 经济观察网 截至2026年2月20日，兴泸水务（02281.HK）股价报收0.78港元，单日上涨1.30%，振幅 1.30%，但成交金额仅2.48万港元，量比0.21显示交投清淡。近5日股价持平，年初至今累计上涨 5.41%；技术面显示MACD柱状图接近零轴，KDJ的J线为36.647，处于中性区间，短期动能偏弱。资金 流向方面，2月20日散户净流出1.07万港元，主力资金无显著活动。 ...

Group 1: Company Performance - The company reported a slight decline in revenue of 0.27% year-on-year to 615 million yuan for the first half of 2025, while net profit increased by 11.96% to 70.856 million yuan, raising concerns about the sustainability of growth due to the revenue drop [2] - The company's current ratio is 0.91, indicating weak short-term debt repayment capability [2] Group 2: Stock Price Movement - The stock price fluctuated between 0.72 and 0.81 HKD recently, closing at 0.77 HKD on February 13, 2026, which is slightly below the 5-day and 10-day moving averages, indicating short-term downward pressure [3] - The MACD histogram, although positive, is narrowing, suggesting a decrease in upward momentum [3] Group 3: Industry Policy and Market Position - The water utility industry relies on capacity expansion or water price adjustments for profit growth, with the company's sewage and tap water business accounting for over 99% of its revenue [4] - Recently, the company has not announced any significant project launches or price adjustments, while competitors have disclosed multiple ongoing project developments, potentially diverting market attention [4]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 瀘州市興瀘水務（集團）股份有限公司 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02281 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 214,940,000 | RMB | | 1 | RMB | | 214,940,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 214,940,000 | RMB | | 1 | RMB | | 214,940,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 瀘州市興瀘水務（集團）股份有限公司 呈交日期: 2026年1月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02281 | 說明 | H股 | | | | | | | | | 多櫃檯證券代號 | | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 214,940,000 | RMB | | | 1 RMB | | | 214,940,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | | 本月底結存 | | | 214,94 ...

董事会进一步宣布，选举公司执行董事兼总经理陈棋楠为公司董事长、战略委员会成员及主席及授权代 表。陈棋楠选举为公司董事长、战略委员会成员及主席及授权代表自董事会作出决议之日(即2025年12 月16日)生效。 本文源自：财华网 【财华社讯】兴泸水务(02281.HK)公布，张歧因工作变动辞任公司执行董事、董事长、战略委员会成员 及主席及香港联交所证券上市规则第3.05条所规定公司授权代表，将于其在2025年12月16日递交辞呈当 日起生效。 ...

1.2 就本公司董事、高級管理人員考核與薪酬方面的事務，委員會擁有如下職責： — 2 — 2281 提名薪酬委員會實施細則 1 職責 瀘州市興瀘水務（集團）股份有限公司（「本公司」）提名薪酬委員會（「委員會」）是按本 公司董事會（「董事會」）通過的決議案成立的。 — 1 — 1.1 就本公司董事、高級管理人員提名方面的事務，委員會擁有如下職責： 1.1.1 至少每年檢討董事會的架構、人數及組成（包括技能、知識及經驗方面， 且本公司應為委員會委任至少一名不同性別的董事）、協助董事會編制董 事會技能表，並就任何為配合本公司的策略而擬對董事會作出的變動提 出建議； 1.1.2 物色具備合適資格可擔任董事的人士，並挑選提名有關人士出任董事或 就此向董事會提供意見； 1.1.3 評核本公司獨立非執行董事的獨立性；及 1.1.4 就董事委任或重新委任以及董事（尤其是主席及行政總裁）繼任計劃向董 事會提出建議； 1.1.5 遴選、審核高級管理人員人選及其任職資格，並向董事會提出聘任或者 解聘的建議； 1.1.6 支援本公司定期評估董事會表現。 1.2.1 就其他執行董事的薪酬建議諮詢董事會主席及╱或行政總裁。如有需要， 委 ...

2281 提名薪酬委員會實施細則 1 職責 瀘州市興瀘水務（集團）股份有限公司（「本公司」）提名薪酬委員會（「委員會」）是按本 公司董事會（「董事會」）通過的決議案成立的。 — 1 — 1.1 就本公司董事、高級管理人員提名方面的事務，委員會擁有如下職責： 1.1.1 至少每年檢討董事會的架構、人數及組成（包括技能、知識及經驗方面， 且本公司應為委員會委任至少一名不同性別的董事）、協助董事會編制董 事會技能表，並就任何為配合本公司的策略而擬對董事會作出的變動提 出建議； 1.1.2 物色具備合適資格可擔任董事的人士，並挑選提名有關人士出任董事或 就此向董事會提供意見； 1.1.3 評核本公司獨立非執行董事的獨立性；及 1.1.4 就董事委任或重新委任以及董事（尤其是主席及行政總裁）繼任計劃向董 事會提出建議； 1.1.5 遴選、審核高級管理人員人選及其任職資格，並向董事會提出聘任或者 解聘的建議； 1.1.6 支援本公司定期評估董事會表現。 1.2 就本公司董事、高級管理人員考核與薪酬方面的事務，委員會擁有如下職責： — 2 — 1.2.1 就其他執行董事的薪酬建議諮詢董事會主席及╱或行政總裁。如有需要， 委 ...

Core Viewpoint - The announcement details the resignation of Mr. Zhang Qi as the executive director and chairman of Xinglu Water (02281), effective from December 16, 2025, due to job changes [1] Group 1: Management Changes - Mr. Zhang Qi will resign from his positions as executive director, chairman, and member and chairman of the company's strategic committee, as well as the authorized representative under the Hong Kong Stock Exchange Listing Rules [1] - Mr. Chen Qinan has been elected as the new executive director and general manager, and will assume the roles of chairman, member and chairman of the strategic committee, and authorized representative effective from the date of the board resolution on December 16, 2025 [1]

Core Viewpoint - The company announced the resignation of Mr. Zhang Qi as Executive Director, Chairman, and member of the Strategic Committee, effective from December 16, 2025 [1] Group 1 - Mr. Zhang's resignation is due to work changes and he will also cease to be the authorized representative of the company as per the Hong Kong Stock Exchange Listing Rules [1] - Mr. Chen Qinan has been elected as the new Executive Director and General Manager, and will assume the roles of Chairman, member and Chairman of the Strategic Committee, and authorized representative effective from the date of the board resolution on December 16, 2025 [1]