Financial Performance - Net profit attributable to shareholders increased by 19.39% to CNY 29,648,508.75 year-on-year[6] - Operating revenue rose by 13.38% to CNY 139,613,828.86 compared to the same period last year[6] - Basic earnings per share increased by 18.18% to CNY 0.13[6] - The weighted average return on equity improved by 0.15 percentage points to 1.49%[6] - Total operating revenue for Q1 2015 was CNY 139,613,828.86, an increase of 13.4% compared to CNY 123,137,734.99 in the same period last year[33] - Net profit for Q1 2015 reached CNY 29,648,508.75, representing a 19.5% increase from CNY 24,833,435.68 in Q1 2014[34] - The total comprehensive income for Q1 2015 was CNY 29,648,508.75, compared to CNY 24,833,435.68 in the previous year, reflecting an increase of 19.00%[35] Cash Flow - Net cash flow from operating activities decreased significantly by 85.54% to CNY 10,390,407.97[6] - Cash flow from operating activities for Q1 2015 was CNY 10,390,407.97, down 85.54% from CNY 71,861,345.16 in Q1 2014[41] - Net cash flow from operating activities rose to $25,129,138.82 compared to $14,375,291.03 in the previous period, marking an increase of about 74.8%[44] - Cash inflow from investment activities decreased significantly to $34,773,605.78 from $224,076,322.65, a decline of approximately 84.5%[45] - Total cash flow decreased by $61,078,515.03 compared to an increase of $22,366,020.75 in the prior period[45] Assets and Liabilities - Total assets increased by 0.51% to CNY 3,391,449,806.92 compared to the end of the previous year[6] - As of March 31, 2015, the total assets of Jiangsu Jiangnan Water Co., Ltd. amounted to CNY 3,391,449,806.92, an increase from CNY 3,374,241,429.42 at the beginning of the year[25] - The company's cash and cash equivalents decreased to CNY 1,113,709,088.46 from CNY 1,139,696,581.96 at the beginning of the year, reflecting a decline of approximately 2.5%[25] - Total liabilities as of March 31, 2015, were CNY 861,570,671.55, down from CNY 890,445,984.32 at the start of the year[31] - The total current liabilities decreased slightly to CNY 1,221,589,826.56 from CNY 1,240,061,321.72, a decline of about 1.5%[26] Shareholder Information - The total number of shareholders reached 11,632 at the end of the reporting period[10] - The largest shareholder, Jiangyin Urban and Rural Water Supply Co., Ltd., holds 34.96% of the shares[11] - Jiangyin Public Asset Management Co., Ltd. is the second-largest shareholder with a 23.18% stake[11] Investments and Projects - Investment income surged by 96.55% to CNY 5,913,252.53, driven by increased earnings from joint ventures[16] - The company plans to issue convertible bonds totaling up to CNY 760 million for the Qishan emergency water source project, pending shareholder approval[18] - The company has received approval from the Jiangsu Provincial State-owned Assets Supervision and Administration Commission for the issuance of the convertible bonds[18] - The company plans to complete the construction of a new office building by the end of 2015, which was delayed due to local planning adjustments[21] Employee and Tax Information - The company's employee compensation payable decreased by 35.01% to CNY 29,779,034.91, as the company paid out last year's year-end bonuses[14] - Tax payable decreased by 42.64% to CNY 27,846,394.01, reflecting the payment of last year's income tax[14] Impairment and Expenses - The company reported an asset impairment loss of CNY 4,036,362.55, a significant increase compared to the previous year's gain, due to the impairment of fixed assets[16] - The company recorded an increase in asset impairment losses to CNY 4,261,362.55 in Q1 2015, compared to a reversal of CNY 215,944.99 in Q1 2014[37] - The financial expenses for Q1 2015 were CNY -3,953,703.51, compared to CNY -3,608,961.16 in the previous year, indicating a slight increase in financial costs[37]

Financial Performance - In 2014, Jiangsu Jiangnan Water Co., Ltd. achieved a net profit attributable to shareholders of 73,857,332.32 CNY, with a total distributable profit of 367,448,520.05 CNY after statutory reserve allocation[2]. - The company's operating revenue for 2014 was 749,402,070.41 CNY, representing a year-on-year increase of 27.98% compared to 585,557,288.82 CNY in 2013[24]. - The net profit attributable to shareholders increased by 21.76% to 177,289,947.42 CNY in 2014 from 145,608,118.82 CNY in 2013[24]. - The basic earnings per share for 2014 was 0.76 CNY, reflecting a growth of 22.58% from 0.62 CNY in 2013[25]. - The total assets of the company reached 3,374,241,429.42 CNY at the end of 2014, an increase of 11.70% from 3,020,853,332.37 CNY in 2013[24]. - The company's net assets attributable to shareholders increased by 7.46% to 1,978,066,782.47 CNY at the end of 2014 from 1,840,710,113.56 CNY at the end of 2013[24]. - The weighted average return on equity for 2014 was 9.29%, up from 8.14% in 2013, indicating an increase of 1.15 percentage points[25]. - The company proposed a cash dividend of 0.23 CNY per share, totaling 53,774,000.00 CNY to be distributed to shareholders[2]. Revenue and Sales - The company achieved a water supply volume of 25,101.67 million cubic meters, exceeding the annual plan by 105.47%, and a year-on-year increase of 3.03%[35]. - The subsidiary's external engineering business revenue increased by 120.59% compared to the previous year, contributing an additional 138.81 million yuan to operating revenue[35]. - The company reported a total revenue of 472,028,296.07 yuan from the water supply business, with a gross margin of 55.38%, reflecting a 0.48 percentage point increase year-on-year[61]. - The company reported a 27.98% increase in operating revenue to CNY 749.40 million, driven by a 4.39% increase in water sales volume and a 120.59% increase in engineering business revenue from its subsidiary[41][42]. Cash Flow and Investments - The cash flow from operating activities for 2014 was 385,402,225.87 CNY, showing a decrease of 15.99% compared to 458,750,229.74 CNY in 2013[24]. - The net cash flow from operating activities decreased by 15.99% to CNY 385.40 million, while cash flow from investment activities improved by 43.06%[41]. - The company’s cash flow from investment activities improved by 43.06%, reducing net cash outflow to -298.26 million yuan[28]. - The company invested a total of 240 million yuan in entrusted financial management products, with an expected return of 13.6 million yuan and actual earnings of 5,007,323.53 yuan[75]. Assets and Liabilities - The company’s inventory increased by 44.29% to 222.48 million yuan due to new engineering projects[28]. - Other current assets rose significantly by 240.81% to 272.65 million yuan, attributed to an increase in financial products[28]. - The company reported a significant increase in accounts payable, rising to CNY 49,820,000, a 154.83% increase compared to the previous year[64]. - Employee compensation liabilities increased to CNY 45,821,698, reflecting a 49.02% rise due to an increase in workforce and average salaries[64]. Operational Efficiency and Management - The company’s main business includes the production and sale of tap water, drainage, and related water treatment services, with a focus on enhancing safety and supply capabilities through smart scheduling and quality management[36]. - The company has implemented an "intelligent water management" system, enhancing operational efficiency and customer service through advanced technology[66]. - The company has established a standardized service model, improving customer satisfaction and operational efficiency[65]. - The company aims to enhance its competitive capabilities through internal control improvements and cultural development initiatives[36]. Corporate Governance and Compliance - The company has committed to improving governance structures and management strategies to mitigate operational and governance risks[110]. - The company has established good relationships with banks to ensure smooth financing channels for future projects[110]. - The company has not faced any major litigation or arbitration issues during the reporting period[122]. - The company has implemented a strict information disclosure management system to ensure timely and accurate information dissemination to shareholders[186]. Future Plans and Market Position - The company plans to invest 200 million RMB in the construction and renovation of 32 new pipeline projects in 2015[107]. - The company aims to enhance urban and rural water supply integration, focusing on a unified planning and management approach to achieve a consistent quality and pricing structure across regions[101]. - The company is positioned to capitalize on the wastewater treatment market, with a target to increase the average wastewater treatment rate in county towns to 70% and in administrative towns to 30% by 2015[92]. - The company plans to apply for a comprehensive credit line not exceeding 200 million RMB from banks to manage its financial costs effectively[107]. Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 1,021, with 772 in the parent company and 249 in subsidiaries[174]. - The company has established a training program in collaboration with Harbin Institute of Technology to enhance the professional skills of its technical personnel[176]. - The employee performance evaluation system was revised and implemented on June 1, 2014, focusing on key performance indicators and comprehensive management indicators[175]. - The company emphasizes the cultivation of talent and skills training to enhance the overall quality of its workforce[176].

Financial Performance - Net profit attributable to shareholders increased by 14.25% to CNY 117,480,810.67 year-to-date[6] - Operating revenue rose by 8.61% to CNY 455,396,868.02 for the year-to-date period[6] - Basic earnings per share increased by 13.64% to CNY 0.50[8] - Net profit excluding non-recurring gains and losses increased by 24.34% to CNY 114,641,642.49 year-to-date[6] - Weighted average return on equity improved by 0.46 percentage points to 6.25%[6] - Net profit attributable to shareholders for the year-to-date period reached CNY 156,961,548.99, an increase of 20.8% compared to CNY 129,955,779.52 in the previous year[48] - Operating profit for the period increased to CNY 59,821,728.93, up 23.0% from CNY 48,656,262.19 in Q3 2013[48] - Operating profit for the first nine months of 2014 was CNY 103,332,421.85, a 19.8% increase from CNY 86,230,438.80 in the same period last year[51] - The total profit for Q3 2014 was CNY 47,241,928.00, an increase of 35% compared to CNY 35,029,187.05 in Q3 2013[52] Assets and Liabilities - Total assets increased by 9.17% to CNY 3,297,936,976.62 compared to the end of the previous year[6] - Jiangnan Water's total liabilities increased significantly, with accounts payable rising by 112.17% to CNY 41,480,000.00, reflecting the use of bank acceptance bills for payments[17] - The company reported a loss of CNY 2,714,696.15 from the disposal of non-current assets[9] - The company's inventory rose by 52.06% to CNY 234,449,884.17, mainly due to new engineering projects undertaken by its subsidiary[16] - The company's construction in progress increased by 130.76% to CNY 209,332,592.20, driven by ongoing pipeline construction projects[16] - Total assets as of September 30, 2014, amounted to CNY 2,611,461,007.45, compared to CNY 2,405,028,392.37 at the beginning of the year, reflecting a growth of 8.6%[45] - Total liabilities increased to CNY 846,571,428.69, up from CNY 672,917,767.84, representing a rise of 25.7%[45] Cash Flow - Cash flow from operating activities decreased by 11.81% to CNY 307,597,725.32 year-to-date[6] - Cash flow from operating activities for the first nine months of 2014 was CNY 307,597,725.32, down from CNY 348,802,933.54 in the previous year[55] - Cash flow from operating activities totaled $356.83 million, down 5.3% from $376.90 million in the previous year[58] - Investment activities generated a net cash outflow of CNY 214,345,879.75 in the first nine months of 2014, compared to a net outflow of CNY 489,917,788.53 in the same period last year[55] - Total cash inflow from investment activities is $558.84 million, down 20.1% from $698.49 million year-over-year[59] - Cash outflow from investment activities totaled $764.65 million, a decrease of 25.4% compared to $1,025.45 million in the previous year[59] Shareholder Information - The total number of shareholders reached 16,762 by the end of the reporting period[12] - The largest shareholder, Jiangyin Urban and Rural Water Supply Co., Ltd., holds 34.96% of shares[12] - Jiangnan Water's total equity holders' share increased, with major shareholders holding 63.08% of the total shares, indicating strong control over the company[14] - The company has committed to not transferring or entrusting shares held prior to the IPO for a period of 36 months, ensuring stability in shareholding[18] - The company has committed to avoiding competition with its controlling shareholder and related entities, ensuring no similar business activities are conducted during the holding period[24] - As of now, the controlling shareholder has strictly adhered to the commitment to avoid competition[26] Operational Highlights - The company reported a decrease in operating income from non-operating activities by 83.20% to CNY 1,357,209.89, mainly due to reduced government subsidy income[17] - The company plans to construct a new office building on its own land by the end of 2015, replacing the currently leased office space[30] - The company will continue to lease office space from its controlling shareholder at a price adjusted based on the CPI increase for the next ten years[31] - The company has implemented new accounting standards effective July 1, 2014, which do not impact the financial statements for the year 2013[35] - The company has committed to not renewing leases for certain assets after their expiration, ensuring compliance with its commitments[27] Cost Management - Total operating costs for Q3 2014 were CNY 106,485,819.44, down 10.3% from CNY 118,741,150.22 in the same period last year[48] - The company reported a decrease in sales expenses to CNY 16,594,007.59 in Q3 2014 from CNY 14,497,216.26 in Q3 2013, indicating improved cost management[51] - The company recorded a decrease in financial expenses, reporting a net financial income of CNY -3,208,989.78 in Q3 2014 compared to CNY -3,287,388.73 in Q3 2013[51] - Cash paid for purchasing goods and services decreased to $42.70 million from $47.44 million, showing a reduction in operational costs[58]

江苏江南水务股份有限公司 2014 年半年度报告 江苏江南水务股份有限公司 601199 2014 年半年度报告 1 江苏江南水务股份有限公司 2014 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 公司半年度财务报告未经审计。 四、 公司负责人龚国贤、主管会计工作负责人王炜及会计机构负责人（会计主管人员） 王炜声明：保证本半年度报告中财务报告的真实、准确、完整。 五、 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承 诺，敬请投资者注意投资风险。 六、 是否存在被控股股东及其关联方非经营性占用资金情况？ 否 七、 是否存在违反规定决策程序对外提供担保的情况？ 否 2 | | | | 第一节 | 释义 4 | | --- | --- | | 第二节 | 公司简介 5 | | 第三节 | 会计数据和财务指标摘要 7 | | 第四节 | 董事会报告 9 | | 第五节 | 重要事项 17 | | 第六节 | 股份 ...

Financial Performance - Net profit attributable to shareholders decreased slightly by 0.18% to CNY 24,833,435.68[9] - Operating revenue rose by 8.75% to CNY 123,137,734.99 compared to the same period last year[9] - The company reported a net profit of CNY 23,662,441.35 after deducting non-recurring gains and losses, an increase of 8.92% year-on-year[9] - The company reported a net profit of CNY 30,240,533.94 for Q1 2014, compared to CNY 33,582,461.05 in Q1 2013, reflecting a decrease of 10.4%[26] - Net profit for Q1 2014 was CNY 15,986,405.97, down 11.7% from CNY 18,102,940.19 in Q1 2013[30] - Operating profit decreased to CNY 21,453,071.83, a decline of 14.5% from CNY 25,185,389.98 in the previous year[30] Assets and Liabilities - Total assets increased by 2.42% to CNY 3,093,867,227.47 compared to the end of the previous year[9] - Total liabilities increased to CNY 1,228,004,166.91 from CNY 1,180,143,218.81, representing a rise of 4.1%[21] - Owner's equity totaled CNY 1,865,863,060.56, up from CNY 1,840,710,113.56, indicating an increase of 1.4%[21] - Total non-current assets amounted to CNY 1,684,411,552.81, an increase from CNY 1,667,846,800.26 at the beginning of the year, representing a growth of 1.0%[24] Cash Flow - Net cash flow from operating activities decreased by 21.13% to CNY 71,861,345.16[9] - Cash flow from operating activities generated a net amount of CNY 71,861,345.16, down 21.0% from CNY 91,111,406.36 in Q1 2013[34] - The net cash flow from operating activities was 14,375,291.03, a decrease of 62.2% compared to 37,903,085.94 in the previous year[37] - The company reported a total cash outflow from operating activities of 74,836,573.49, which is an increase from 73,481,197.44 in the previous year[37] Shareholder Information - The number of shareholders reached 21,320, with the top ten shareholders holding a combined 63.08% of the total shares[12][13] - Jiangyin Urban and Rural Water Supply Co., Ltd. is the largest shareholder, holding 34.96% of the shares[12][13] - Basic earnings per share remained stable at CNY 0.11[9] - The basic and diluted earnings per share remained stable at CNY 0.11 for both Q1 2014 and Q1 2013[30] Investment Activities - Investment income increased significantly to ¥3,008,577.51, up 416.18% from ¥582,853.49, primarily due to higher returns from bank wealth management products and equity method recognition of joint venture income[15] - Investment activities resulted in a net cash outflow of CNY 57,961,835.82, compared to a net outflow of CNY 54,590,834.27 in the same period last year[34] - Cash inflow from recovering investments was 120,000,000.00, significantly higher than 40,000,000.00 in the previous year[37] Operational Costs - Total operating costs for Q1 2014 amounted to CNY 92,897,201.05, up 16.6% from CNY 79,646,227.79 in Q1 2013[27] - Sales expenses for Q1 2014 were CNY 14,034,791.77, an increase of 16.2% from CNY 12,084,115.44 in Q1 2013[30] - Management expenses rose to CNY 17,896,112.44, up 6.6% from CNY 16,789,542.86 in the previous year[30] Other Financial Metrics - The weighted average return on net assets decreased by 0.07 percentage points to 1.34%[9] - Cash and cash equivalents at the end of Q1 2014 were CNY 703,866,323.22, compared to CNY 676,104,167.53 at the beginning of the year, showing a growth of 4.1%[23] - Accounts receivable increased to CNY 8,767,808.88 from CNY 5,424,136.24, marking a rise of 61.5%[23] - Inventory decreased to CNY 955,874.71 from CNY 1,053,242.45, a decline of 9.2%[24]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 100,810,285.67 in 2013, with a 4.76% increase compared to RMB 96,000,000 in 2012[6]. - Total operating revenue for 2013 was RMB 585,557,288.82, reflecting an 11.93% increase from RMB 523,165,333.65 in 2012[24]. - The basic earnings per share for 2013 was RMB 0.62, up 5.08% from RMB 0.59 in 2012[25]. - The company's net profit increased by 4.76% year-on-year, with a significant contribution from the municipal engineering subsidiary, which saw a 73.63% increase in net profit due to a 56.93% rise in installation service revenue[43]. - Net profit for the year was 14,560.81 million yuan, up 4.76% from 13,899.60 million yuan, driven by growth in municipal engineering business profits[31]. - The company's total revenue for 2013 reached 524.614 million, an increase from 493.614 million in 2012, representing a growth of approximately 6.5%[140]. - The company reported a net profit of 31 million for the year, indicating a stable performance compared to previous periods[140]. Assets and Liabilities - The company's total assets reached RMB 3,020,853,332.37 at the end of 2013, marking a 19.11% increase from RMB 2,536,161,773.59 in 2012[24]. - The company's total liabilities increased to RMB 1,180,143,218.81 from RMB 785,706,243.75, reflecting a rise of about 50%[177][178]. - The total equity attributable to shareholders increased to RMB 1,840,710,113.56 from RMB 1,750,455,529.84, reflecting a growth of about 5.1%[178]. - The company's total liabilities as of the end of 2012 were 447,891.51 million RMB, indicating a significant leverage position[135]. - The total amount of unallocated profits at the end of the year was CNY 225,963,657.19, reflecting a decrease from CNY 240,991,657.19 in the previous year[199]. Cash Flow - The net cash flow from operating activities was RMB 458,750,229.74, representing a 9.63% increase from RMB 418,454,929.94 in 2012[24]. - The ending cash and cash equivalents balance decreased to ¥324,049,763.33 from ¥442,667,528.98, a drop of approximately 26.7%[189]. - Cash inflow from financing activities totaled ¥5,750,000.00, down from ¥10,000,000.00, showing a decrease of 42.5%[189]. - The company reported a net cash increase of -¥118,617,765.65, compared to -¥7,882,888.28 in the previous period, reflecting a worsening cash position[189]. Investments and Acquisitions - The company acquired a 30% stake in Everbright Water (Jiangyin) Co., Ltd. for 83.1 million RMB, marking a 1,072.04% increase in equity investment compared to the previous year[60]. - The company plans to acquire assets related to water supply in Jiangyin, including cash purchases of 13.49 million RMB for Gu Shan Water Supply Co., Ltd. and 13.07 million RMB for Jinlan Water Supply Co., Ltd.[104]. - The total cash outlay for the acquisitions amounts to approximately 50.96 million RMB[104]. - The company has invested CNY 235,341,330.51 in the Chengxi Water Plant construction project, which is now 100% complete[75]. Operational Highlights - The company achieved a water supply volume of 24,364.32 million cubic meters, exceeding the annual plan by 5.93% and increasing by 1.83% compared to the previous year[31]. - The company maintained a water fee recovery rate of 99.69% and a water quality compliance rate of 100%[31]. - The company completed the construction of the Chengxi Water Plant, which has a planned capacity of 200,000 m³/d, with an initial phase of 100,000 m³/d operational since July 30, 2013[45]. - The company is adapting to stricter environmental regulations, which are expected to increase operational costs and create more demand for environmental services[76]. Shareholder Information - The company proposed a cash dividend of RMB 0.19 per share, totaling RMB 44,422,000.00 to be distributed to shareholders[6]. - The company has a 30.51% dividend payout ratio based on the net profit attributable to shareholders in 2013[99]. - The total share capital of Jiangnan Water Co., Ltd. remains unchanged at 233,800,000 shares, with 65.59% being restricted shares[120]. Governance and Compliance - The company has established a governance structure that complies with the Company Law and Securities Law, ensuring transparent information disclosure and investor relations management[157]. - The company has a board of directors consisting of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[158]. - The company did not report any retired employees requiring financial support, indicating a stable workforce[150]. - The company has not experienced any changes in its board of directors, supervisors, or senior management during the reporting period[148]. Future Outlook - Future guidance suggests a targeted revenue growth of 10% for the upcoming fiscal year, driven by increased demand for water services[140]. - The company plans to expand its sewage treatment business and explore new environmental protection fields through acquisitions or management contracts[85]. - The company aims to achieve a comprehensive urban-rural water supply integration by 2014, including the renovation of rural pipelines and household water meters[84].