Core Points - Jiangnan Water Co., Ltd. announced a cash dividend of CNY 0.11 per share for its A-shares, totaling CNY 102,873,132.12 to be distributed to shareholders [1][2][5] - The dividend distribution was approved at the annual general meeting held on May 15, 2025, and the key dates for the dividend process include the record date on June 20, 2025, and the ex-dividend date on June 23, 2025 [1][2] - The company will not implement any differential dividend distribution or capital increase through bonus shares [1] Dividend Distribution Details - The cash dividend will be distributed based on a total share capital of 935,210,292 shares, with the payment being made to shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1][2] - For individual shareholders holding shares for more than one year, the cash dividend is exempt from personal income tax, while those holding for one year or less will have tax withheld upon stock transfer [2][3] - For qualified foreign institutional investors (QFIIs), a 10% corporate income tax will be withheld, resulting in a net cash dividend of CNY 0.099 per share [4] Taxation Information - Shareholders holding shares for less than one month will incur a 20% tax on their dividend income, while those holding for one month to one year will have a 10% tax [3][4] - Hong Kong investors will also receive a net cash dividend of CNY 0.099 per share after a 10% tax withholding, with provisions for tax treaty benefits available [4]

债券代码：252240 债券简称：23 江南 01 证券代码：601199 证券简称：江南水务 公告编号：临 2025-025 江苏江南水务股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.11元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/20 | － | 2025/6/23 | 2025/6/23 | 差异化分红送转： 否 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本935,210,292股为基数，每股派发现金红利0.11 元（含税），共计派发现金红利102,873,132.12元。 1. 发放年度：2024年年度 2. 分派对象： ...

| 证券代码：601199 | 证券简称：江南水务 | | 公告编号：临 2025-024 | | --- | --- | --- | --- | | 债券代码：252240 | 债券简称：23 | 江南 01 | | 江苏江南水务股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 125 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 608,223,152 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数的比例（%） | 65.0360 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 (一) 股东大会召开的时间：2025 年 5 月 15 日 (二) 股东大会召开的地点：江苏江南水务股份有限公司三楼会议中心（江苏省江阴 ...

致：江苏江南水务股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》和中国证券监督 管理委员会《上市公司股东会规则》等法律、法规和规范性文件以及《江苏江南 水务股份有限公司章程》（以下简称"《公司章程》"）的规定，江苏世纪同仁律师 事务所（以下简称"本所"）受贵公司董事会的委托，指派本所律师出席贵公司 2024 年年度股东大会，并就本次股东大会的召集、召开程序、出席会议人员资 格、召集人资格、表决程序以及表决结果的合法有效性等事项出具法律意见。 为出具本法律意见书，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本所律师同意将本法律意见书随贵公司本次股东大会决议一并公告，并依法 对本法律意见书承担相应的责任。 江南水务 2024 年年度股东大会 法律意见书 江苏世纪同仁律师事务所 关于江苏江南水务股份有限公司 2024 年年度股东大会的法律意见书 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东大会的召集、召开程序和召集人资格 1、本次股东大会由董 ...

Core Viewpoint - Jiangnan Waterworks reported a revenue growth of 39% and a net profit growth of 31% for 2024, driven by various business segments, although the net profit growth was primarily influenced by an investment in Jiangyin Rural Commercial Bank [2] Group 1: Financial Performance - In Q1 2025, Jiangnan Waterworks reported a main revenue of 294 million, a slight decrease of 0.43% year-on-year [5] - The net profit attributable to the parent company was 95.16 million, an increase of 13.13% year-on-year [5] - The non-recurring net profit was 94.02 million, up 9.48% year-on-year [5] - The company had a debt ratio of 34.87% and reported an investment income of 23.96 million [5] - The gross profit margin stood at 38.27% [5] Group 2: Business Segments - The self-water supply business saw a revenue increase of 1.58%, while the engineering business and drainage business reported revenue growths of 21.92% and 17.71% respectively [2] - The company plans to enhance market share through "smart drainage" services, focusing on integrated water environment management and standardized maintenance of drainage networks [2] Group 3: Environmental and Technological Initiatives - Jiangnan Waterworks aims to achieve a production and sales difference rate of no more than 10% by 2025, with wastewater discharge standards meeting national regulations [4] - The company is investing in new technologies for deep water treatment and energy conservation, including distributed photovoltaic power generation and energy-saving renovations [3]

综合评价 从单季度数据来看，第一季度营业总收入为2.94亿元，同比下降0.43%；归母净利润为9516.32万元，同 比上升13.13%；扣非净利润为9402.08万元，同比上升9.48%。 成本与费用 本报告期江南水务的三费(财务费用、销售费用和管理费用)占比上升明显，总和占总营收的比例同比增 幅达30.65%，达到14.84%。这表明公司在成本控制方面面临一定压力。 主要财务指标 资产状况 近期江南水务（601199）发布2025年一季报，证券之星财报模型分析如下： 财务概况 近期江南水务发布了2025年一季报。报告显示，截至本季度末，公司营业总收入为2.94亿元，较去年同 期下降0.43%；归母净利润为9516.32万元，同比增长13.13%；扣非净利润为9402.08万元，同比增长 9.48%。 单季度数据分析 毛利率：38.27%，同比增加0.07%。 净利率：32.35%，同比增加13.62%。 每股净资产：4.79元，同比增加17.47%。 每股经营性现金流：0.05元，同比减少26.86%。 每股收益：0.1元，同比增加13.24%。 货币资金：8.22亿元，同比增加17.77%。 应收账款： ...

江苏江南水务股份有限公司 2024 年年度股东大会会议资料 证券简称：江南水务 证券代码：601199 江苏江南水务股份有限公司 2024 年年度股东大会会议资料 二〇二五年五月十五日 江苏江南水务股份有限公司 2024 年年度股东大会会议资料 | | | | 2024 年年度股东大会议程 | 3 | | --- | --- | | 2024 年年度股东大会须知 | 5 | | 议案一：2024 年度董事会工作报告 | 6 | | 议案二：2024 年度监事会工作报告 | 15 | | 议案三：2024 年度财务决算及 2025 年度财务预算报告 | 18 | | 议案四：2024 年年度报告全文及摘要 | 25 | | 议案五：关于公司 2024 年年度利润分配的预案 | 26 | | 议案六：关于公司董事、监事 2024 年度薪酬的议案 | 27 | | 议案七：关于续聘会计师事务所的议案 | 29 | | 议案八：关于提请股东大会授权董事会决定公司 | 2025 年中期利润分配的议案30 | | 议案九：江南水务未来三年（2025-2027 | 年）股东分红回报规划 31 | | 议案十：关于购买董监高 ...

Core Insights - Jiangnan Water's 2024 annual report shows steady growth in revenue and profit despite a challenging market environment, but a significant decline in net cash flow from operating activities raises concerns about liquidity and operational efficiency [1] Financial Performance - Revenue growth: In 2024, Jiangnan Water achieved operating revenue of CNY 1,533,067,386.98, a 12.39% increase from CNY 1,364,014,058.89 in 2023. The water supply segment saw a 1.58% increase in main revenue, driven by improved non-residential water usage and higher average water prices [2] - Net profit increase: The net profit attributable to shareholders was CNY 402,004,358.98, up 24.31% year-on-year. The net profit after excluding non-recurring items was CNY 403,750,227.30, a 35.36% increase, largely due to investment income from Jiangyin Rural Commercial Bank [3] - Earnings per share growth: Basic earnings per share reached CNY 0.43, a 22.86% increase, with the same figure for non-recurring earnings per share also at CNY 0.43, reflecting the impact of investment income on profitability [4] Expense Analysis - Sales expenses decreased: Sales expenses were CNY 74,829,790.88, down 6.48% from the previous year, indicating effective cost control in sales operations [5] - Management expenses slightly increased: Management expenses rose to CNY 119,418,893.93, a modest increase of 0.71%, suggesting stable overall management costs [6] - Financial expenses increased: Financial expenses were -CNY 52,308,855.70, an increase of 3.41% from the previous year, indicating a rise in absolute values despite remaining negative [7] - R&D expenses decreased: R&D expenses totaled CNY 6,325,255.37, down 6.14%, which may impact future innovation and business expansion capabilities [8] Cash Flow Analysis - Decline in operating cash flow: The net cash flow from operating activities was CNY 355,408,727.02, a 26.03% decrease, primarily due to reduced cash collections from engineering projects and increased cash payments for goods and services [10] - Significant changes in investment cash flow: The net cash flow from investment activities was -CNY 167,044,897.06, a decrease of CNY 267 million, reflecting adjustments in investment strategies and increased cash recovery from investments [11] - Variability in financing cash flow: The net cash flow from financing activities was -CNY 115,210,094.92, a decrease of CNY 53 million, indicating adjustments in funding strategies and dividend payments [12] R&D and Personnel - R&D investment: Total R&D investment was CNY 6,325,255.37, accounting for 0.41% of operating revenue, with a decrease in investment but still achieving several patents during the reporting period [13] - R&D personnel: The company employed 75 R&D staff, representing 7.86% of total employees, with a balanced educational and age structure, although reduced R&D investment may affect team stability and innovation capacity [14]

Core Viewpoint - The company plans to distribute a cash dividend of RMB 0.11 per share, totaling approximately RMB 102.87 million, based on a total share capital of 935,210,292 shares as of December 31, 2024 [1]. Company Overview - The company operates in the "Water Production and Supply" sector, specifically focusing on the production and sale of tap water and related water treatment services [2][3]. - The main business includes tap water production, drainage, and related water treatment services, with a strong emphasis on public welfare attributes and government-guided pricing [3]. Business Operations Tap Water Business - The company has three surface water plants with a total designed capacity of 110,000 tons per day [4]. - The tap water business operates under a franchise model granted by the Jiangyin municipal government for a period of 30 years [5]. Engineering Business - The engineering business, primarily managed by a wholly-owned subsidiary, focuses on the installation of water pipelines and related infrastructure projects within Jiangyin [6][7]. - The company engages in various engineering projects, including water pipeline installation and secondary water supply facility construction [8]. Drainage Business - The drainage business encompasses wastewater treatment, drainage network operation and maintenance, and related engineering services [9]. - The company operates two wastewater treatment plants with a combined capacity of 50,000 tons per day, focusing on both industrial and domestic wastewater [10]. Industry Context - The water supply industry is characterized by high capital intensity, long construction and return periods, and a relatively stable competitive landscape with regional monopolies [3]. - The industry is closely linked to regional economic growth, population size, and urbanization, currently in a mature development phase [3]. - Recent reforms in water pricing mechanisms and the introduction of water resource tax regulations are expected to enhance the overall profitability of the industry [3].

证券代码：601199 证券简称：江南水务 公告编号：临 2025-017 债券代码：252240 债券简称：23 江南 01 江苏江南水务股份有限公司 2024 年年度利润分配方案公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 每股分配比例：每股派发现金红利0.11元（含税）。江苏江南水务股份有 限公司（以下简称"公司"）本年度不进行资本公积金转增及送股。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日期 将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，公司拟维持每股 分配比例不变，相应调整分配总额，并将另行公告具体调整情况。 是否可能触及《上海证券交易所股票上市规则》第9.8.1条第一款第（八） 项规定的可能被实施其他风险警示的情形：否 本次利润分配预案尚需提交公司2024年年度股东大会审议。 一、利润分配方案内容 （一）利润分配方案的具体内容 经公证天业会计师事务所（特殊普通合伙）审计，截止 2024 年 12 月 31 日，公 司（母公司）报表中期末未分配利润 ...