Group 1 - The core viewpoint of the article is that Qianjiang Water Conservancy Development Co., Ltd. has completed certain fundraising projects and plans to use the surplus funds for other fundraising projects, which is a prudent decision to enhance the efficiency of fund utilization and support the company's ongoing business development [1][7][8]. Group 2 - The company raised a total of RMB 581,020,898.64 through a targeted issuance of 66,630,837 shares at a price of RMB 8.72 per share, with net funds amounting to RMB 573,177,116.51 after deducting fees [1]. - The fundraising projects included the Fuzhou Jiangyin Port City Economic Zone Sewage Treatment Plant Mid-term Project and the Changshan Overseas Chinese Town Sewage Treatment Plant Expansion and Upgrade Project, with a total investment of RMB 178,849.79 million and an intended fundraising amount of RMB 57,237.06 million [2][6]. - The completed fundraising projects include the "Hucun Water Plant Project (Phase I)", "Lanxi City Dengsheng Water Plant Project", "Fuzhou Jiangyin Port City Economic Zone Sewage Treatment Plant Mid-term Project (Phase I)", and "Changshan Overseas Chinese Town Sewage Treatment Plant Expansion and Upgrade Project", with a total surplus of RMB 10,685.60 million [6][8]. Group 3 - The main reasons for the surplus in fundraising are strict adherence to regulations, effective resource allocation, and cost control during project implementation, which led to savings in construction costs [6][7]. - The company plans to allocate the surplus funds of RMB 10,685.60 million to ongoing projects, specifically the "Yongkang City Urban Sewage Treatment Plant (Phase V)" and "Pinghu City Dushan Port Industrial Water Plant (Phase III)" [6][8]. - The total unpaid amount for the completed projects is RMB 6,592.42 million, which will remain in the fundraising special account for future payments [6][8]. Group 4 - The decision to use surplus funds for other projects is seen as beneficial for meeting funding needs, avoiding idle funds, and enhancing economic efficiency, aligning with the company's operational development and shareholder interests [7][8]. - The proposal for reallocating surplus funds has been approved by the company's board, ensuring compliance with relevant regulations and guidelines [8][9].

Core Points - The company held the 10th meeting of the 8th Supervisory Board on August 27, 2025, with all three supervisors present, complying with relevant laws and regulations [1][2] - The meeting approved the 2025 semi-annual report and annual report summary, confirming that the information accurately reflects the company's operational management and financial status [1][2] - The board also approved a proposal to conclude certain fundraising projects and reallocate surplus funds to other fundraising projects [1] - A special report on the storage and use of raised funds for the first half of 2025 was also approved [2] - The board approved a proposal to cancel certain provisions of the company’s articles of association, which will be submitted for review at the company's second extraordinary general meeting of shareholders in 2025 [2]

Meeting Information - The second extraordinary general meeting of shareholders for 2025 will be held on September 16, 2025, at 9:30 AM [1] - The meeting will take place at the company's conference room located at No. 3, Santai Mountain Road, Hangzhou, Zhejiang Province [1] - Voting will be conducted through both on-site and online methods, utilizing the Shanghai Stock Exchange's shareholder meeting online voting system [2] Voting Procedures - Shareholders can vote via the trading system or the internet voting platform, with specific voting times outlined [3][4] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same category of shares [3][4] - Duplicate voting through different methods will be counted based on the first voting result [4] Attendance and Registration - Shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on September 11, 2025, are eligible to attend the meeting [4] - Attendance can also include company directors, senior management, and appointed lawyers [4] - Registration procedures for attendees are specified, including the need for identification and authorization documents for proxies [6]

Core Viewpoint - Qianjiang Water Development Co., Ltd. plans to purchase the 16th floor of the China Electric Power Construction Group's Greater Bay Area Science and Technology Innovation Center in Guangzhou for a total price of RMB 33,860,000, which is based on a unit price of RMB 15,552 per square meter [1][2][6]. Summary by Sections 1. Overview of Related Transactions - The transaction involves the purchase of 2,177.2357 square meters of office space in the Greater Bay Area Science and Technology Innovation Center, which is part of a strategy to expand business in Guangdong Province [2][6]. - The transaction does not constitute a major asset restructuring as defined by regulations, and the amount is within the board's authority, thus not requiring shareholder approval [1][2]. 2. Transaction Details - The purchase price is set at RMB 33,860,000, including tax, with a VAT rate of 9% [1][2]. - The seller, China Electric Power Construction Group (Guangzhou) Urban Investment Development Co., Ltd., is an affiliate of the company, and there have been no non-routine related transactions in the past 12 months [1][5]. 3. Financial and Operational Impact - The acquisition is expected to meet the company's future office needs in Guangzhou and is aligned with its operational development strategy [6][16]. - The transaction price is based on market evaluations and comparable office building prices, ensuring it does not adversely affect the company's independence or the interests of minority shareholders [6][16]. 4. Approval Process - The independent directors unanimously agreed that the transaction aligns with the company's operational needs and does not harm the interests of shareholders, particularly minority shareholders [5][17]. - The board meeting held on August 27, 2025, approved the transaction with a unanimous vote of 7 in favor and no opposition [5][17].

Summary of Key Points Core Viewpoint - The company, Qianjiang Water Conservancy, has announced a guarantee of 15 million yuan for its wholly-owned subsidiary, Dongyang Qianjiang Water Co., Ltd, to fulfill a contractual obligation related to a PPP project [1][2][3]. Group 1: Guarantee Details - The guarantee amount provided is 15 million yuan, which is within the previously anticipated limit [1]. - The guarantee is backed by a counter-guarantee [1]. - The total external guarantees of the company and its subsidiaries amount to 561.32 million yuan, which represents 14.83% of the company's latest audited net assets [7]. Group 2: Financial Condition of the Subsidiary - Dongyang Qianjiang Water Co., Ltd has been operating at a loss, with a net profit of -4.35 million yuan for the audited year 2024 [5]. - The total assets of Dongyang Qianjiang are approximately 53.08 million yuan, with total liabilities of about 42.84 million yuan [5]. - The company has been unable to secure independent credit from banks due to its financial status, necessitating the parent company's guarantee [3][5]. Group 3: Contractual Obligations - According to the project contract, Dongyang Qianjiang is required to provide a risk guarantee of 15 million yuan to the project owner, which is the Dongyang Water Bureau [2][6]. - The guarantee will be in the form of an irrevocable, on-demand performance bond, valid until November 1, 2027 [6]. - The company is responsible for ensuring the normal operation of the wastewater treatment plant under the PPP project [7].

Core Viewpoint - The company is actively implementing a "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" action plan to enhance operational quality, market competitiveness, and investor returns, in line with national policies and industry standards [1] Group 1: Digital Transformation and Innovation - The company has established a digital center to promote systematic digital transformation, integrating core information infrastructure and business systems to enhance operational efficiency [1][2] - A pilot project at the Zhoushan Dinghai Water Plant has successfully implemented full-process automation, reducing operational staff by one-third and achieving over 95% accuracy in process model predictions [2] - The company is advancing smart wastewater treatment and pipeline network projects, with ongoing research on hydraulic models and intelligent scheduling technologies [2][3] Group 2: Environmental Sustainability - The company is exploring green energy technologies to reduce carbon emissions in water supply and wastewater treatment processes, with plans to establish zero-carbon water plants by 2026 [2] - Five water and wastewater treatment facilities have been identified for upgrades to meet zero-carbon standards, with specific timelines for evaluations and certifications [2] Group 3: Core Business Development - The company is enhancing its investment management system to ensure high-quality project execution and is exploring innovative revenue models [4] - A technology research and development base for agricultural drinking water has been established, focusing on the localization of key components [5] - The company is promoting high-quality drinking water projects, having successfully implemented six projects serving 30,000 people [6] Group 4: Operational Efficiency and Standardization - The company has completed calibration of over 30 water flow meters to improve production data accuracy and is implementing standardization across its operations [7] - A comprehensive business process standardization manual has been developed to streamline operations and enhance management efficiency [7] Group 5: Financial Management and Shareholder Returns - The company has established a special account for managing raised funds, ensuring compliance with regulations and protecting investor interests [9] - A cash dividend distribution plan was approved, with a total cash dividend of 2.5 yuan per 10 shares, representing a 98.59% increase from the previous year [9] Group 6: Governance and Compliance - The company is committed to transparent information disclosure and investor relations management, adhering to legal requirements and enhancing governance practices [10] - A series of internal training sessions have been conducted to improve the skills and compliance knowledge of board members and executives [11]

Core Viewpoint - Qianjiang Water Development Co., Ltd. reported a slight increase in operating income but a significant decrease in net profit for the first half of 2025 compared to the previous year, indicating potential challenges in profitability despite stable revenue growth [1][2]. Financial Summary - Total assets at the end of the reporting period were approximately CNY 10.31 billion, a decrease of 6.44% from the previous year [1]. - Operating income for the reporting period was CNY 1.05 billion, reflecting a year-on-year increase of 3.59% [1]. - Total profit amounted to CNY 176.86 million, showing a slight increase from the previous year's CNY 175.90 million [1]. - Net profit attributable to shareholders was CNY 85.07 million, representing a significant decrease of 24.37% compared to the previous year's CNY 105.80 million [1]. - The net profit after deducting non-recurring gains and losses was not specified, but the cash flow from operating activities was positive [1]. - The weighted average return on equity decreased by 0.13 percentage points to 3.42% [1]. - Basic and diluted earnings per share were both CNY 0.19, down 20.83% from CNY 0.24 in the previous year [1]. Shareholder Information - The total number of shareholders at the end of the reporting period was 28,476 [1]. - Major shareholders included China Water Investment Group Co., Ltd. with a 32.54% stake and Zhejiang New Energy Investment Group Co., Ltd. with a 5.67% stake [2]. - The report indicates that there are no significant relationships or concerted actions among the major shareholders, except for some identified connections [2].

Core Viewpoint - The company has announced the completion of several fundraising projects and plans to allocate the remaining funds to other ongoing projects, enhancing the efficiency of fund utilization and supporting the company's operational needs [1][2][11]. Fundraising and Project Overview - The total amount raised through a targeted issuance of A-shares was approximately RMB 573.18 million, with net proceeds after expenses amounting to RMB 572.37 million [2][3]. - The projects that have been completed include: - "Hucun Water Plant Project (Phase I)" - "Lanxi City Dengsheng Water Plant Project" - "Fuzhou Jiangyin Port City Economic Zone Sewage Treatment Plant Mid-term Project (Phase I)" - "Changshan Overseas Chinese Town Sewage Treatment Plant Expansion and Upgrade Project" [1][2][4]. Remaining Fund Allocation - The remaining funds amount to RMB 106.86 million, which will be redirected to the following projects: - "Yongkang City Sewage Treatment Plant (Phase V)" - "Pinghu City Dushan Port Industrial Water Plant Phase III" [1][5][9]. Fund Utilization Efficiency - The decision to reallocate the remaining funds is based on the actual construction status of the projects, aiming to avoid idle funds and improve the efficiency of fund usage, which is expected to enhance the company's economic benefits [4][11]. Approval Process - The board of directors has approved the reallocation of funds, and the sponsor, CITIC Securities, has provided a clear consent opinion, confirming that the necessary approval procedures have been followed [2][11].

Core Points - The company will hold an online performance briefing for the first half of 2025 on September 10, 2025, from 9:30 to 11:30 AM [1][2] - The briefing aims to provide investors with a comprehensive understanding of the company's operational results and financial status for the first half of 2025 [1] - Investors can submit questions from September 3 to September 9, 2025, and the company will address commonly asked questions during the briefing [1][2] Meeting Details - The meeting will take place at the Shanghai Stock Exchange Roadshow Center, accessible via the website http://roadshow.sseinfo.com/ [2] - Key participants include the company's General Manager, Chief Financial Officer, and Independent Director [2] - Investors can participate online during the scheduled time and will receive timely responses to their inquiries [2] Contact Information - Contact person for inquiries is Zhuang Yuwen, reachable at phone number 0571-87974387 or via email at qjsl@qjwater.com [3] - After the briefing, investors can view the meeting's details and main content on the Shanghai Stock Exchange Roadshow Center website [3]

Fundraising Overview - The company raised a total of RMB 581,020,898.64 through a specific stock issuance at a price of RMB 8.72 per share, with a net amount of RMB 572,370,632.48 after deducting issuance costs of RMB 8,650,266.16 [1][2] - The funds were fully deposited into the company's account by December 2, 2024, and verified by Tianjian Accounting Firm on December 3, 2024 [2] Fund Management - The company has established a special account for the management of the raised funds at China Merchants Bank, ensuring compliance with regulations and protecting investors' rights [3] - A tripartite supervision agreement was signed with the underwriter and the bank to regulate the storage of the raised funds [3] Fund Utilization - As of June 30, 2025, the total amount used from the raised funds was RMB 350,216,297.34, with RMB 110,000,000.00 allocated for cash management [2][4] - The company has generated interest income of RMB 720,621.05 and investment income from financial products of RMB 1,199,884.92, resulting in a remaining balance of RMB 114,074,841.11 in the special account [2][4] Project Investment and Replacement - The company approved the use of raised funds to replace self-raised funds previously invested in projects, totaling RMB 312,306,495.90 [5] - The company has completed the replacement of pre-invested funds for various projects, ensuring compliance with regulatory requirements [5][6] Cash Management - The company has been authorized to use up to RMB 300 million of temporarily idle raised funds for cash management, ensuring that this does not affect the normal use of the funds for project construction [5][7] - The company has engaged in structured deposits with China Merchants Bank, generating returns from these investments [7] Project Completion and Surplus Funds - Several projects have been completed and reached a usable state, resulting in surplus funds of RMB 10,685.60 million, which will be redirected to other ongoing projects [8] - The company has adhered to regulations regarding the use of raised funds, ensuring transparency and compliance in its disclosures [8]