Financial Performance - The company reported a consolidated revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year increase of 15%[4]. - The Group recorded total revenue of approximately RMB 1,330.3 million in 2024, representing a year-on-year increase of approximately 3.4%[20]. - Net profit amounted to approximately RMB 189.9 million, reflecting a year-on-year decrease of approximately 15.2% from 2023[20]. - Basic earnings per share were RMB 0.21, a decrease of approximately 12.5% compared to the same period in 2023[20]. - The Group's revenue for the year ended December 31, 2024, was RMB 1,330,267,000, representing an increase from RMB 1,286,434,000 in 2023[32]. - Net profit for the year was RMB 189,935,000, down from RMB 223,913,000 in 2023, indicating a decrease of approximately 15.1%[32]. - The Group's operating revenue for the Reporting Period was RMB 1,330.3 million, an increase of 3.4% from RMB 1,286.4 million in the same period of 2023[56]. - The Group's net profit decreased by 15.2% to RMB 189.9 million from RMB 223.9 million in 2023, with the net profit margin declining from 17.4% to 14.3%[87]. Market Expansion and Strategy - The company provided a positive outlook for 2025, projecting a revenue growth of 10-15% driven by new product launches and market expansion[4]. - The company plans to expand its market presence in three new provinces by the end of 2025, aiming for a 30% increase in market share[4]. - A strategic acquisition of a local competitor was completed, expected to enhance operational efficiency and increase revenue by an estimated RMB 200 million annually[4]. - The Group is focusing on expanding the industrial wastewater treatment market and promoting the integration of water supply and drainage in townships[27]. - The Group aims to enhance core competitiveness through refined internal management and energy conservation initiatives[27]. - The Group's development strategy focuses on "consolidation, expansion, capital empowerment, technology leading, and service improvement" to ensure sustainable growth[19]. Research and Development - Investment in R&D increased by 25% to RMB 150 million, focusing on wastewater treatment technologies[4]. - The Luzhou Expert Workstation was established, introducing over 10 experts to enhance research and development in wastewater treatment technology[23]. - In 2024, the Group obtained 1 invention patent, 1 utility model patent, and 5 software copyrights, with several patent applications accepted[23]. - The company is committed to developing new technologies in wastewater treatment to improve service delivery[158]. Operational Efficiency - The gross profit margin improved to 35%, up from 32% in the previous year, due to cost optimization strategies[4]. - The Group's operating cost was RMB 867.4 million, an increase of 3.0% from RMB 842.1 million in the same period of 2023, primarily due to higher water sales and wastewater treatment costs[63]. - The gross profit for the Group was RMB 462.8 million, a 4.2% increase from RMB 444.3 million in the same period of 2023, with a gross profit margin rising from 34.5% to 34.8%[70]. - The gross profit from tap water sales surged to RMB 22.3 million, an increase of 856.5% from a loss of RMB 3.0 million in 2023, with the gross profit margin improving from -0.8% to 5.4%[74]. Shareholder Returns - The board approved a dividend payout of RMB 0.10 per share, reflecting a commitment to returning value to shareholders[4]. - The Board recommended a final dividend of RMB 0.04 per share (tax inclusive) to reward Shareholders for their long-term support[20]. Leadership and Management - The company has a strategic focus on expanding its wastewater treatment capabilities and enhancing operational efficiency[158]. - The management team emphasizes the importance of government relations and collaboration for business growth[164]. - The leadership structure includes a diverse team with extensive experience in both government and enterprise sectors[167]. - The company aims to leverage its leadership's diverse backgrounds to drive growth and innovation in its business operations[179]. Human Resources and Employee Management - Employee salaries and benefits expenses rose to approximately RMB 171.9 million during the reporting period, compared to RMB 160.6 million in 2023, reflecting an increase in compensation costs[133][135]. - The company emphasizes the importance of human resources management in its operational strategy, as evidenced by Mr. Xu's extensive background in this area[178]. Financial Position and Liabilities - Total assets increased to RMB 7,188,076,000 in 2024 from RMB 7,054,786,000 in 2023, reflecting a growth of about 1.9%[35]. - The total liabilities slightly decreased to RMB 4,039,593,000 in 2024 from RMB 4,042,153,000 in 2023[35]. - The net debts to equity ratio increased from 102.3% at the end of 2023 to 106.9% at the end of the reporting period, indicating a higher leverage position[130][132].

Financial Performance - Total operating revenue for the year ended December 31, 2024, was approximately RMB 1,330.3 million, an increase of about 3.4% compared to the same period in 2023[5] - Net profit for the year was approximately RMB 189.9 million, a decrease of about 15.2% compared to 2023[5] - Net profit attributable to the owners of the parent company was approximately RMB 177.2 million, down about 15.6% from the previous year[5] - Basic earnings per share were approximately RMB 0.21, a decrease of about 12.5% compared to 2023[5] - The company reported a total comprehensive income of RMB 189.9 million for the year, compared to RMB 223.9 million in 2023[7] - The company achieved a net profit of RMB 177,238 thousand for the year ending December 31, 2024, compared to RMB 209,901 thousand in 2023, reflecting a decrease of approximately 15.6%[34] - Basic earnings per share for the company were RMB 0.21 for 2024, down from RMB 0.24 in 2023, indicating a decline of 12.5%[34] - The company's net profit for the reporting period was RMB 1,899 million, a decrease of 15.2% from RMB 2,239 million in the same period of 2023, resulting in a net profit margin decline from 17.4% to 14.3%[55] Dividends - The board proposed a final dividend of RMB 0.04 per share, totaling approximately RMB 34.39 million, subject to shareholder approval[4] - The company plans to distribute a final dividend of RMB 0.04 per share for the year ending December 31, 2024, totaling approximately RMB 34.39 million, compared to RMB 0.05 per share in 2023[33] - The board proposed a final dividend of RMB 0.04 per share for the year ending December 31, 2024, compared to RMB 0.05 per share for 2023, totaling approximately RMB 343.9 million[76] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 7,188.1 million, compared to RMB 7,054.8 million as of December 31, 2023[9] - Total liabilities as of December 31, 2024, were RMB 4,039.6 million, slightly down from RMB 4,042.2 million in 2023[9] - Total assets as of December 31, 2024, amounted to RMB 7,165,789,000, compared to RMB 7,038,075,000 in 2023, an increase of 1.8%[23] - Total liabilities as of December 31, 2024, were RMB 4,034,688,000, slightly down from RMB 4,036,902,000 in 2023[23] Revenue Breakdown - Water supply business revenue increased to RMB 414,131,000 in 2024 from RMB 384,719,000 in 2023, a growth of 7.6%[21] - Wastewater treatment revenue rose to RMB 660,047,000 in 2024, up from RMB 607,255,000 in 2023, reflecting an increase of 8.7%[21] - Water sales revenue reached RMB 414.1 million, up 7.6% from RMB 384.7 million in 2023, accounting for 31.1% of total revenue[46] - Wastewater treatment revenue increased by 8.7% to RMB 660.0 million from RMB 607.3 million in 2023, representing 49.6% of total revenue[47] Operational Metrics - The total volume of water sold was approximately 166.0 million tons, a 1.6% increase from 163.4 million tons in 2023[43] - The total volume of urban wastewater treated was approximately 175.2 million tons, a 9.44% increase from 160.1 million tons in 2023[44] - The company operated 12 water supply plants with a total daily supply capacity of approximately 774,000 tons, maintaining an average utilization rate of 70.7%[43] Costs and Expenses - Operating costs rose to RMB 867.4 million, a 3.0% increase from RMB 842.1 million in 2023, primarily due to increased water and wastewater treatment volumes[48] - Interest expenses for the year increased to RMB 88,938,000 in 2024 from RMB 77,484,000 in 2023, an increase of 14.5%[24] - Current income tax expense for 2024 was RMB 43,852,000, compared to RMB 40,630,000 in 2023, an increase of 5.5%[25] Investments and Financing - The company's total borrowings at the end of the reporting period were approximately RMB 29,233 million, with a debt-to-equity ratio of 106.9%, up from 102.3% at the end of 2023[66] - The company's financing costs for the reporting period amounted to RMB 859 million, an increase of 19.6% compared to RMB 718 million in the same period of 2023[55] Taxation and Incentives - The company is eligible for a 15% corporate income tax rate under the Western Development tax policy, which is applicable until December 31, 2030[28] - The company is also benefiting from tax incentives for environmental protection and energy-saving projects, including a three-year exemption from corporate income tax for qualifying projects[32] Corporate Governance - The company has complied with all applicable provisions of the corporate governance code during the reporting period[89] - The audit committee reviewed the annual performance announcement and the consolidated financial statements for the reporting period[82] - The company has adopted the standard code for securities transactions by directors and supervisors, with all confirmed compliance during the reporting period[90] Employee and Compensation - The company employed 867 staff members, with total employee compensation and benefits amounting to approximately RMB 1,719 million, an increase from RMB 1,606 million in 2023[67] Strategic Focus - The company continues to focus on environmental protection and energy-saving investments, which may qualify for tax incentives under current regulations[27] - The company plans to focus on industrial wastewater treatment based on liquor wastewater and continue promoting urban-rural integrated water supply and drainage[41] - The company is leveraging AI technologies to enhance digital economy capabilities and accelerate the development of smart water services, aiming for significant upgrades in water resource security and ecological protection[40] Shareholder Information - The company will suspend share transfer registration from June 24 to June 27, 2025, to determine eligibility for voting at the annual general meeting[79] - The company will distribute the final dividend to shareholders listed on the register as of July 15, 2025, pending approval at the annual general meeting[80] - At least 25% of the company's total issued share capital is held by the public as of the announcement date[93]

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 500 million, representing a 15% growth compared to the previous year[10]. - Revenue for the six months ended June 30, 2024, was RMB 617,041,000, a decrease of 3.1% compared to RMB 640,457,000 for the same period in 2023[15]. - Net profit for the period was RMB 68,597,000, down 19.3% from RMB 84,990,000 in the previous year[15]. - Basic earnings per share for the reporting period were RMB 0.07, compared to RMB 0.09 for the same period in 2023[17]. - The Group's operating revenue for the Reporting Period amounted to RMB 617.0 million, representing a decrease of 3.7% from RMB 640.5 million for the same period of 2023[1]. - Operating profits for January to June 2024 were RMB 88.70 million, a decrease of 12.8% compared to RMB 101.75 million in the same period of 2023[165]. - Total profit for the first half of 2024 was RMB 89.67 million, down 13.5% from RMB 103.73 million in the first half of 2023[165]. - Net profits for January to June 2024 were RMB 68.60 million, a decline of 19.3% from RMB 84.99 million in the same period of 2023[165]. Operational Efficiency - Operating expenses have been optimized, resulting in a 5% reduction in costs compared to the previous period[10]. - Cash flow from operations improved to RMB 150 million, up 10% from the last reporting period[10]. - The average utilization rate of tap water plants was 68.39%[29]. - The Group owned 9 operating city wastewater treatment plants with a daily treatment capacity of approximately 489,000 tons, and the average load rate was 84%[30]. - Total wastewater treatment volume amounted to approximately 81.4 million tons, representing an increase of 12% compared to approximately 72.6 million tons for the six months ended June 30, 2023[30]. - The Group's gross profit decreased by 11.2% to RMB 193.7 million, with gross profit margin declining from 34.1% to 31.4% during the Reporting Period[1]. - The gross profit from water supply operations was RMB -2.4 million, a 72.8% improvement from RMB -8.9 million in the same period of 2023, with a gross profit margin increase from -4.8% to -1.3%[49]. Market Expansion and Development - The company plans to expand its market presence by entering two new provinces in China by the end of the fiscal year[10]. - A strategic acquisition of a local wastewater treatment firm is in progress, which is anticipated to increase market share by 10%[10]. - The company has set a future revenue target of RMB 600 million for the next fiscal year, reflecting a projected growth of 20%[10]. - The Group aims to expand its industrial wastewater treatment field, focusing on creating a large-scale regional liquor-making wastewater treatment market[23]. - The Group plans to enhance its technology research and development efforts, particularly in intelligent control and scheduling systems for pipe leakage[23]. - The company is exploring potential mergers and acquisitions to strengthen its market presence and diversify its service offerings[194]. Sustainability and Innovation - The company is focusing on sustainability initiatives, with a goal to reduce carbon emissions by 15% over the next three years[10]. - New product development includes the launch of an advanced water treatment technology, expected to enhance operational efficiency by 30%[10]. - The water industry is expected to explore niche market segments and new business fields, including seawater desalination and industrial reclaimed water reuse[20]. - The Group's strategic focus includes developing new business formats and profit growth points through technological advancements and market expansion[23]. Financial Position and Assets - Total assets as of June 30, 2024, were RMB 7,052,403,000, slightly down from RMB 7,054,786,000 at the end of 2023[16]. - Total liabilities decreased to RMB 4,023,234,000 from RMB 4,042,153,000 as of December 31, 2023[16]. - The equity attributable to shareholders of the Company increased to RMB 2,817,374,000 from RMB 2,798,549,000 at the end of 2023[16]. - As of the end of the Reporting Period, the Group's cash and bank balances amounted to approximately RMB 498.2 million, an increase from RMB 390.5 million at the end of 2023[85]. - The total borrowings of the Group at the end of the Reporting Period were approximately RMB 2,984.9 million, compared to RMB 2,922.6 million at the end of 2023[85]. Governance and Compliance - The Company has complied with all applicable code provisions under the Corporate Governance Code during the Reporting Period[108]. - The Board did not recommend the payment of interim dividends for the six months ended June 30, 2024[17]. - The Company has adopted all code provisions of the Corporate Governance Code to enhance corporate governance practices[107]. - The Board will review corporate governance practices periodically to ensure compliance with Listing Rules[108]. - The Company was not involved in any material legal proceedings or arbitration during the Reporting Period[131]. Future Outlook - Future performance guidance suggests a positive outlook, with expectations of increased revenue and profitability in the upcoming quarters[194]. - The company plans to continue its market expansion strategies, focusing on enhancing service capabilities and customer satisfaction[194]. - The company is committed to maintaining a strong financial position while exploring acquisition opportunities[197].

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 617.0 million, a decrease of about 3.7% compared to the same period last year[1]. - Net profit for the same period was approximately RMB 68.6 million, down approximately 19.3% year-on-year[1]. - Profit attributable to the owners of the parent company was approximately RMB 63.3 million, a decrease of about 20.1% compared to the previous year[1]. - Basic earnings per share for the period were approximately RMB 0.07, down about 22.2% year-on-year[1]. - The board of directors did not recommend the distribution of an interim dividend for the six months ended June 30, 2024[1]. - Operating profit for the period was RMB 88.7 million, down from RMB 101.8 million in the previous year[2]. - The company achieved operating revenue of RMB 617.0 million, a decrease of 3.7% compared to RMB 640.5 million in the same period of 2023, primarily due to reduced engineering installation income impacted by the real estate market[33]. - Net profit for the six months ended June 30, 2024, was RMB 68,597 thousand, down 19.3% from RMB 84,990 thousand in the same period of 2023[10]. - The net profit attributable to the owners of the parent company for the six months ending June 30, 2024, was RMB 63,289,000, compared to RMB 79,193,000 for the same period in 2023, representing a decrease of approximately 20.1%[22]. - The earnings per share for the six months ending June 30, 2024, was RMB 0.07, down from RMB 0.09 in the same period of 2023, indicating a decline of 22.2%[22]. - The company’s gross profit decreased by 11.2% to RMB 193.7 million, with a gross margin decline from 34.1% to 31.4% due to lower margins in engineering installation and wastewater treatment[41]. - Net profit decreased to RMB 68.6 million, down 19.3% from RMB 85.0 million in the same period of 2023, with a net profit margin decline from 13.3% to 11.1%[50]. Revenue Breakdown - Water supply business revenue increased to RMB 188,391 thousand from RMB 184,886 thousand, representing a growth of 2.7%[10]. - Wastewater treatment revenue rose to RMB 323,894 thousand, up 17.8% from RMB 274,923 thousand in the previous year[10]. - The engineering business revenue decreased to RMB 95,447 thousand from RMB 155,182 thousand, a decline of 38.6%[10]. - Water sales revenue increased by 1.9% to RMB 188.4 million, up from RMB 184.9 million in the same period of 2023, accounting for 30.5% of total revenue[34]. - The revenue from wastewater treatment operations increased by 17.8% to RMB 323.9 million, up from RMB 274.9 million in the same period of 2023, accounting for 52.5% of total revenue[36]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 7,052.4 million, slightly down from RMB 7,054.8 million as of December 31, 2023[5]. - Total liabilities as of June 30, 2024, were RMB 4,023.2 million, compared to RMB 4,042.2 million as of December 31, 2023[5]. - Total equity attributable to shareholders of the parent company was RMB 2,817.4 million as of June 30, 2024, compared to RMB 2,798.5 million at the end of the previous year[5]. - Total assets as of June 30, 2024, were RMB 7,052,403 thousand, slightly up from RMB 7,038,075 thousand as of December 31, 2023[12]. - Total liabilities decreased to RMB 4,023,233 thousand from RMB 4,036,902 thousand, a reduction of 0.3%[12]. - The total borrowings of the group at the end of the reporting period amounted to approximately RMB 2,984.9 million, compared to RMB 2,922.6 million at the end of 2023[65]. - The net debt-to-equity ratio at the end of the reporting period was 101.5%, slightly down from 102.3% at the end of 2023[65]. Expenses and Costs - Total operating costs for the six months ended June 30, 2024, were RMB 541.2 million, compared to RMB 549.7 million in the same period last year[2]. - Current income tax expense for the six months ended June 30, 2024, was RMB 24,401 thousand, an increase of 14.8% from RMB 21,293 thousand in 2023[15]. - Sales expenses decreased to RMB 10.7 million, down 16.4% from RMB 12.8 million in the same period of 2023, mainly due to reductions in employee compensation and labor insurance costs[46]. - Management expenses increased to RMB 47.1 million, up 3.5% from RMB 45.5 million in the same period of 2023, primarily due to increases in social security, maintenance, and depreciation expenses[47]. - Financial expenses decreased to RMB 43.5 million, down 18.2% from RMB 53.2 million in the same period of 2023, mainly due to reduced loan principal and lower interest expenses on existing debt[48]. Operational Highlights - The company processed a total of approximately 81.4 million tons of wastewater, representing a 12% increase from approximately 72.6 million tons in the same period of 2023[32]. - The average utilization rate of water supply plants was 68.39%, with a total water supply capacity of approximately 77.4 million tons[31]. - The company operates 12 water supply plants and 9 urban sewage treatment plants, with a total daily treatment capacity of approximately 141.5 million tons[30]. - The company aims to achieve a rural tap water coverage rate of 90.2% by the end of 2024, with a focus on integrated urban-rural water supply construction[28]. - The company plans to strengthen product and service capabilities, focusing on industrial wastewater treatment and smart water management systems in the second half of 2024[29]. Shareholder Information - The company declared a final dividend of RMB 42,985,500 or RMB 0.05 per share (tax included) for the year ending December 31, 2023[21]. - The group maintained a public float of at least 25% of its total issued share capital throughout the reporting period[78]. - The board did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[73]. Other Information - The company has a weighted average number of ordinary shares issued of 859,710,000 for both periods reported[26]. - The group did not have any significant acquisitions or disposals during the reporting period[67]. - The group confirmed a net foreign exchange loss of approximately RMB 5,984.14 during the reporting period, with no hedging against foreign currency exposure[69]. - The group did not hold any significant investments at the end of the reporting period[71]. - The audit committee reviewed the interim financial statements for the six months ended June 30, 2024, ensuring compliance with accounting policies and internal controls[79].

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.5 billion, representing a year-on-year growth of 15%[1]. - The Group recorded total revenue of approximately RMB 1,286.4 million in 2023, representing a year-on-year decrease of approximately 4.9%[21]. - Net profit amounted to approximately RMB 223.9 million, reflecting a year-on-year increase of approximately 0.3%[21]. - Basic earnings per share remained stable at RMB 0.24, unchanged from the same period in 2022[21]. - The Group's operating revenue for the Reporting Period was RMB 1,286.4 million, a decrease of 4.9% from RMB 1,353.4 million in the same period of 2022[70]. - Revenue from tap water sales amounted to RMB 384.7 million, down 6.4% from RMB 411.1 million in 2022, accounting for 29.9% of total revenue in 2023[71]. - Revenue from wastewater treatment increased by 15.9% to RMB 607.3 million from RMB 524.0 million in 2022, representing 47.2% of total revenue in 2023[76]. - The gross profit for the Group was RMB 444.3 million, a decrease of 10.1% from RMB 494.0 million in 2022, with the gross profit margin declining from 36.5% to 34.5%[88]. - The gross profit from tap water supply operations was RMB -3.0 million, a decrease of 106.8% from RMB 43.6 million in 2022, with a gross profit margin of -0.8%[92]. - The gross profit from wastewater treatment services increased by 16.0% to RMB 257.6 million from RMB 222.1 million in 2022, maintaining a gross profit margin of 42.4%[97]. - Other revenue increased by 29.3% to RMB 82.0 million from RMB 63.4 million in 2022, mainly due to government grants for engineering pipeline networks[102]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[1]. - New product launches are expected to contribute an additional RMB 300 million in revenue over the next year[1]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[1]. - The company is considering strategic acquisitions to enhance its service portfolio, with a budget of RMB 500 million allocated for potential deals[1]. - The management strategy emphasized "consolidation, expansion, capital empowerment, technology leading, and service improvement" to achieve high-quality and sustainable development[18]. - The Group aims to enhance supply and service capabilities while focusing on expanding the industrial wastewater market for liquor-making and shale gas[27]. Research and Development - The company is investing RMB 200 million in research and development for new technologies aimed at improving service efficiency[1]. - The Group obtained 27 utility model patents and 21 software copyrights, enhancing its core competitiveness through technological innovation[22]. - The self-developed intelligent water system has significantly lowered costs and boosted efficiency, maintaining a leading production and operation level in Southwest China[22]. - The Group plans to strengthen its technology research and development efforts to build the "intelligent water" technology brand, enhancing its core competitiveness[27]. - Research and development expenses amounted to RMB 51,245, primarily for the development of "C-MBR integrated wastewater treatment equipment"[106]. Operational Efficiency - Operational efficiency improvements are expected to reduce costs by 8% over the next year[1]. - The Group's operating cost was RMB 842.1 million, a decrease of 2.0% from RMB 859.4 million in the same period of 2022[77]. - Operating costs associated with tap water supply increased by 5.5% to RMB 387.7 million from RMB 367.5 million in 2022, accounting for 46.0% of total operating costs in 2023[82]. Market and Industry Trends - The amount of reclaimed water usage in China was approximately 18 billion cubic meters in 2022, an increase of 11.77% year-on-year, with a projected increase to 20.6 billion cubic meters in 2023[50]. - The urban reclaimed water utilization rate is expected to rise from approximately 28.76% in 2022 to 32% in 2023[50]. - The comprehensive leakage rate of public water supply in China was 12.84% in 2022, with a target to reduce it to within 9% by 2025[47]. Financial Position - Total assets for the year ended December 31, 2023, were RMB 7,054,786,000, a decrease of 1.2% from RMB 7,140,568,000 in 2022[42]. - Total liabilities decreased to RMB 4,042,153,000 in 2023, down 6.0% from RMB 4,299,548,000 in 2022[42]. - Total equity increased to RMB 3,012,633,000, reflecting a growth of 6.0% from RMB 2,841,020,000 in 2022[42]. - Return on average equity for 2023 was 7.7%, a slight decrease from 8.0% in 2022[37]. - The net debts to equity ratio increased to 102.3% at the end of 2023 from 91.2% at the end of 2022[157]. Legal and Compliance - Xinglu Wastewater Treatment is currently involved in a lawsuit with a total litigation amount of RMB 24.7407 million, which is still under trial[172]. - The company is also a third party in another lawsuit with a claim amount of RMB 8.853 million, which is still under trial[173]. - The group has no significant events after the reporting period, aside from those disclosed in the annual report[181]. Management Team - The management team includes Mr. Zhang Qi, who has over 31 years of experience in the wastewater treatment and tap water supply industries[186]. - Mr. Chen has over 23 years of experience in government service and enterprise-government cooperation[198].

Financial Performance - The group's operating revenue for the year ended December 31, 2023, was approximately RMB 1,286.4 million, a decrease of about 4.9% compared to the same period in 2022[33]. - The net profit for the year was approximately RMB 223.9 million, an increase of about 0.3% compared to the same period in 2022[33]. - The net profit attributable to the owners of the parent company was approximately RMB 209.9 million, an increase of about 3.3% compared to the same period in 2022[33]. - The basic earnings per share for the year was approximately RMB 0.24, unchanged from the same period in 2022[33]. - Total revenue for 2023 was RMB 1,286,434, a decrease of 4.9% from RMB 1,353,419 in 2022[44]. - Net profit for 2023 was RMB 223,913, slightly up from RMB 223,241 in 2022, indicating a growth of 0.3%[45]. - Operating profit for 2023 increased to RMB 268,577, compared to RMB 254,020 in 2022, reflecting a growth of 5.8%[44]. - The company's total liabilities decreased to RMB 4,042,153 thousand in 2023 from RMB 4,299,548 thousand in 2022, indicating a reduction of approximately 6%[71]. - The group's net profit was RMB 223.9 million, a slight increase of 0.3% from RMB 223.2 million in 2022, with a net profit margin rising from 16.5% in 2022 to 17.4% in 2023[146]. Dividends - The board proposed a final dividend of RMB 0.05 per share (before tax), totaling approximately RMB 42.99 million, subject to shareholder approval[34]. - The company declared a final dividend of RMB 0.05 per share, totaling RMB 42.99 million for the year[65]. - The company will distribute a final dividend to H-share shareholders, subject to a withholding tax of 10% according to Chinese tax regulations[190]. Assets and Liabilities - As of December 31, 2023, the group's long-term prepaid expenses were RMB 184.4 million, a decrease from RMB 210.2 million as of December 31, 2022, primarily due to amortization during the reporting period[1]. - The group's accounts payable increased to RMB 417.1 million as of December 31, 2023, from RMB 376.1 million as of December 31, 2022, mainly due to increased payable engineering costs for the Chengnan sewage treatment plant project[2]. - The group's contract liabilities decreased to RMB 177.2 million as of December 31, 2023, from RMB 224.4 million as of December 31, 2022, primarily due to a reduction in pre-received engineering payments[4]. - The group's non-current liabilities due within one year increased to RMB 569.6 million as of December 31, 2023, from RMB 216.7 million as of December 31, 2022, mainly due to the reclassification of long-term borrowings and payable bonds[5]. - The net debt-to-equity ratio at the end of the reporting period was 102.3%, up from 91.2% at the end of 2022[8]. - Cash and cash equivalents as of December 31, 2023, were RMB 390,505, down 36.0% from RMB 609,756 in 2022[46]. - Total assets as of December 31, 2023, were RMB 7,054,786, a slight decrease from RMB 7,140,568 in 2022[46]. - The company's total equity increased to RMB 3,012,633 thousand in 2023 from RMB 2,841,020 thousand in 2022, indicating a growth of approximately 6%[71]. - The total borrowings at the end of the reporting period were approximately RMB 2,922.6 million, down from RMB 3,098.4 million at the end of 2022[182]. Revenue Breakdown - Revenue from wastewater treatment services increased to RMB 607,255 thousand in 2023, up from RMB 523,978 thousand in 2022, reflecting a growth of about 15.9%[79]. - The group's revenue from water supply was RMB 384.7 million, a decrease of 6.4% compared to RMB 411.1 million in the same period of 2022, accounting for 29.9% of total revenue in 2023[133]. - Revenue from installation services was RMB 256.8 million, down 28.6% from RMB 359.5 million in 2022, representing 20.0% of total revenue in 2023[133]. - The group's operating revenue was RMB 1,286.4 million, a decrease of 4.9% from RMB 1,353.4 million in the same period of 2022, primarily due to a reduction in water supply and engineering installation revenue[105]. Operational Metrics - The total water sales volume during the reporting period was approximately 163.4 million tons, an increase of 1.04% compared to 161.7 million tons in the same period of 2022[102]. - The actual total urban sewage treatment volume was approximately 160.1 million tons, up 6.6% from 150.2 million tons in the same period of 2022[104]. - The company operates 12 water supply plants with a total daily supply capacity of approximately 774,000 tons, maintaining an average utilization rate of 70.19%[130]. - The company has 9 operational urban sewage treatment plants with a daily treatment capacity of approximately 489,000 tons, with a production load rate of 77.8%[103]. Research and Development - Research and development expenses significantly decreased to RMB 51 from RMB 821 in 2022, a reduction of 93.8%[44]. - The group's R&D expenses were RMB 51,245, primarily for the development of the "C-MBR integrated wastewater treatment equipment"[166]. - The company aims to enhance its core competitiveness by increasing R&D efforts in smart water management and loss control technologies[126]. Corporate Governance and Management - The strategic committee member Chen Bing resigned on December 13, 2023, and Xu Fei was appointed as a new member on the same day[197]. - Xu Guanghua was appointed as an executive director on July 19, 2023, following a review by the employee representative assembly[198]. - The company has been compliant with all provisions of the corporate governance code during the reporting period[200]. Legal and Compliance - The company is involved in a legal dispute with a claim amounting to RMB 8.853 million, which is still under review[187]. - The company has not generated any foreign exchange gains during the reporting period and currently has unutilized cash in HKD[186].

Financial Performance - The company reported a consolidated revenue of RMB 500 million for the first half of 2023, representing a 15% increase compared to the same period last year[3]. - Revenue for the six months ended June 30, 2023, was RMB 640,457,000, a decrease of 8.3% compared to RMB 698,079,000 for the same period in 2022[18]. - Profit before tax for the reporting period was RMB 103,734,000, down 33.5% from RMB 155,912,000 in the previous year[18]. - Net profit for the period was RMB 84,990,000, representing a decline of 36.1% from RMB 133,071,000 in 2022[18]. - Basic earnings per share for the reporting period were RMB 0.09, down from RMB 0.14 in the previous year[18]. - Cash flow from operating activities increased to RMB 120 million, a 12% rise compared to the previous year, indicating strong operational performance[3]. - Operating profit margin improved to 25%, up from 22% in the previous year, reflecting better cost management[3]. - Net profit decreased by 36.1% to RMB 85.0 million from RMB 133.1 million in the same period of 2022, with net profit margin declining from 19.1% to 13.3%[86]. User and Market Growth - User data indicates a growth in active users to 1.2 million, up from 1 million in the previous year, marking a 20% increase[3]. - The company expects a revenue growth forecast of 10-15% for the second half of 2023, driven by new product launches and market expansion strategies[3]. - The company plans to expand its market presence in three new provinces by the end of 2024, targeting a 25% increase in market share[3]. Investments and Acquisitions - Investment in new technologies and product development reached RMB 50 million, accounting for 10% of total revenue, aimed at enhancing service efficiency[3]. - A strategic acquisition of a local wastewater treatment company was completed, expected to enhance operational capacity by 30%[3]. Revenue Breakdown - Revenue from tap water sales amounted to RMB 184.9 million, representing an increase of 1.6% from RMB 182.0 million for the same period in 2022, accounting for 28.9% of total revenue for the six months ended June 30, 2023[45]. - Revenue from installation services decreased by 33.2% to RMB 155.2 million from RMB 232.3 million in the same period of 2022, representing 24.2% of total revenue[49]. - Revenue from wastewater treatment increased by 4.2% to RMB 274.9 million from RMB 263.9 million in the same period of 2022, accounting for 42.9% of total revenue[50]. Operational Metrics - Total water sales volume was approximately 78.1 million tons, an increase of 2.09% from approximately 76.5 million tons for the six months ended June 30, 2022, driven by increased water consumption in urban areas[37]. - The Group operated 12 tap water plants with a daily supply capacity of approximately 774,000 tons, maintaining the same capacity as at the end of 2022, with an average utilization rate of 69.3%[36]. - The Group owned 9 city wastewater treatment plants with a daily treatment capacity of approximately 484,000 tons, with an average load rate of 75.51%[38]. - Total wastewater treatment volume was approximately 72.6 million tons, a decrease of 1.89% compared to approximately 74.0 million tons for the six months ended June 30, 2022[39]. Cost Management - Operating costs decreased by 4.0% to RMB 422.4 million from RMB 439.9 million in the same period of 2022[54]. - Operating costs associated with tap water sales increased by 6.7% to RMB 193.8 million from RMB 181.7 million in the same period of 2022, representing 45.9% of total operating costs[57]. - Gross profit decreased by 15.5% to RMB 218.1 million from RMB 258.2 million in the same period of 2022, with a gross profit margin of 34.1%[61]. Corporate Governance - The Company has adopted all code provisions of the Corporate Governance Code and has been compliant during the Reporting Period[181]. - The Company confirmed that all Directors and Supervisors complied with the Model Code for securities transactions during the Reporting Period[182]. - The Company is committed to maintaining high standards of corporate governance to safeguard shareholder interests[179]. - The Board will review corporate governance practices and operations periodically to ensure compliance with Listing Rules[181]. Shareholder Information - As of the end of the reporting period, the company had issued a total of 859,710,000 shares, including 644,770,000 Domestic Shares and 214,940,000 H Shares[197]. - The total number of H shares held by various entities indicates a significant concentration of ownership among a few shareholders[194]. - The report highlights the strategic importance of these shareholders in influencing company decisions and future directions[195].

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，並明確表示概不就因本公告全部或任何部份內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2281） 截至2023年6月30日止六個月的中期業績公告 財務摘要 截至2023年6月30日止六個月： • 營業收入約為人民幣640.5百萬元，較去年同期減少約8.3%。 • 淨利潤約為人民幣85.0百萬元，較去年同期減少約36.1%。 • 歸屬於母公司所有者的淨利潤約為人民幣79.2百萬元，較去年同期減少約35.0%。 • 每股基本盈利約為人民幣0.09元，較去年同期減少約35.7%。 • 董事會不建議分派截至2023年6月30日止六個月之中期股息。 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.5 billion, representing a year-on-year growth of 15%[14] - The Group recorded total revenue of approximately RMB 1,353.4 million in 2022, a year-on-year decrease of approximately 1.2%[28] - Net profit for 2022 amounted to approximately RMB 223.2 million, representing a year-on-year decrease of approximately 14.5%[28] - Basic earnings per share for 2022 was RMB 0.24, reflecting a year-on-year decrease of approximately 14.3%[28] - Operating revenue decreased by 1.2% to RMB 1,353.4 million from RMB 1,370.1 million in the same period of 2021[71] - Revenue from tap water sales increased by 6.6% to RMB 411.1 million, accounting for 30.4% of total revenue in 2022[72] - Revenue from wastewater treatment increased by 11.7% to RMB 524.0 million, representing 38.7% of total revenue in 2022[77] - Gross profit decreased by 13.1% to RMB494.0 million, with gross profit margin declining from 41.5% in 2021 to 36.5% in 2022[88] - Net profit declined by 14.5% to RMB223.2 million, with net profit margin decreasing from 19.1% to 16.5%[110] User and Market Growth - User data showed an increase in active users, reaching 2 million, which is a 20% increase compared to the previous year[14] - The company plans to expand its market presence by entering two new provinces, aiming for a 5% market share in these regions within the next two years[14] - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market share by 8%[14] - The company aims to enhance its long-term sustainable development by focusing on the integration of water supply and drainage in townships and expanding into the regional liquor-making wastewater treatment market[55] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[14] - New product launches are expected to contribute an additional RMB 300 million in revenue, with a focus on innovative water treatment technologies[14] - For 2023, the Group aims to expand the industrial wastewater treatment market and promote the integration of water supply and drainage in townships[34] - The company plans to establish a replicable control model for external expansion and enter the shale gas wastewater treatment sector[56] Operational Efficiency and Technology - The company is investing RMB 50 million in research and development for sustainable water solutions over the next three years[14] - The implementation of intelligent water systems is expected to improve management efficiency and reduce leakage rates in the water supply network[50] - The Group's self-developed technologies received utility model patents, enhancing its core competitiveness in wastewater treatment[29] - The MBR integrated wastewater treatment equipment was recognized as a key research project, indicating technological leadership in the industry[29] Financial Position and Assets - Total assets increased to RMB 7,140,568,000 in 2022, up from RMB 7,073,316,000 in 2021, representing a growth of 0.95%[45] - Total liabilities decreased to RMB 4,299,548,000 in 2022, down from RMB 4,412,295,000 in 2021, a reduction of 2.55%[45] - Total equity attributable to shareholders rose to RMB 2,636,130,000 in 2022, compared to RMB 2,476,129,000 in 2021, marking an increase of 6.46%[45] - The return on average equity for 2022 was 8.0%, down from 9.9% in 2021[41] Challenges and Legal Issues - Despite challenges from COVID-19 and extreme weather, the Group achieved high-quality and sustainable development[25] - The company is involved in a legal dispute with Sichuan Changjiang Engineering Crane Co., Ltd. regarding unpaid equipment costs amounting to RMB 42.82 million and a penalty of RMB 17.15 million due to equipment quality issues[181] - The company is also facing a lawsuit from China Communications Construction Group Hongfeng Co., Ltd. for outstanding project payments totaling RMB 11.55 million, along with interest and litigation costs[181] Customer Service and Governance - The management highlighted a commitment to improving customer service, aiming for a 90% satisfaction rate by the end of the next fiscal year[14] - The board of directors emphasized the importance of corporate governance and compliance with regulatory standards to ensure long-term growth[14] Employee and Cost Management - Employee salaries and benefits expenses decreased to approximately RMB152.2 million in 2022 from RMB182.9 million in 2021, due to business integration and outsourcing[167] - Operating costs rose by 7.2% to RMB 859.4 million, primarily due to increased depreciation and variable costs[81]

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，並明確表示概不就因本公告全部或任何部份內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2281） 截至 2022 年 12 月 31 日止年度的全年業績公告 2022年度財務摘要 － 營業收入約為人民幣1,353.4百萬元，較2021年同期減少約1.2%。 － 淨利潤約為人民幣223.2百萬元，較2021年同期減少約14.5%。 － 歸屬於母公司所有者的淨利潤約為人民幣203.2百萬元，較2021年同期減少約16%。 － 每股基本收益約為人民幣0.24元，較2021年同期減少14.3%。 2022年度利潤分配預案 ...