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 ...

江苏江南水务股份有限公司 未来三年（2025-2027 年）股东分红回报规划 为完善和健全江苏江南水务股份有限公司（以下简称"公司"）科学、持续、稳 定的分红决策和监督机制，进一步明确公司对投资者的合理投资回报，进一步细化 《江苏江南水务股份有限公司章程》（以下简称"《公司章程》"）中有关利润分配政 策的条款，增加利润分配决策的透明度和可操作性，便于投资者对公司经营和利润 分配进行监督，引导投资者树立长期投资和理性投资理念，根据中国证券监督管理 委员会《上市公司监管指引第 3 号——上市公司现金分红》（2025 年修订）的规定， 结合《公司章程》等相关文件规定，特制订《江苏江南水务股份有限公司未来三年 （2025-2027 年）股东分红回报规划》（以下简称"本规划"或"规划"），具体内容 如下： 一、公司制定规划考虑的因素 公司着眼于长远和可持续的发展，在综合分析企业经营发展实际、股东要求和 意愿、社会资金成本、外部融资环境等因素的基础上，充分考虑公司目前及未来盈 利规模、现金流量状况、发展所处阶段、项目投资资金需求、银行信贷及债权融资 环境等情况，建立对投资者持续、稳定、科学的回报规划与机制，从而对利润分配 ...

江苏江南水务股份有限公司 | 证券代码：601199 | 证券简称：江南水务 | | 公告编号：临 | 2025-021 | | --- | --- | --- | --- | --- | | 债券代码：252240 | 债券简称：23 | 江南 01 | | | 关于召开2024年年度股东大会的通知 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： 股东大会召开日期：2025年5月15日 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的方 式 (四) 现场会议召开的日期、时间和地点 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024年年度股东大会 召开的日期时间：2025 年 5 月 15 日 14 点 00 分 召开地点：江苏江南水务股份有限公司三楼会议中心（江苏省江阴市滨江扬子 江路 66 号） (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所 ...

| 证券代码：601199 | 证券简称：江南水务 | 公告编号：临 2025-014 | | --- | --- | --- | | 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 第八届监事会第二次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 江苏江南水务股份有限公司（以下简称"公司"或"江南水务"）第八届监事会 第二次会议于 2025 年 4 月 23 日在公司三楼会议室（江苏省江阴市滨江扬子江路 66 号）召开。本次会议通知于 2025 年 4 月 13 日以电子邮件等方式向全体监事发出。会 议应到监事 3 人，实到监事 3 人，会议由监事会主席赵红霞女士主持。本次会议的召 开符合《公司法》及《公司章程》的有关规定，会议合法有效。 二、监事会会议审议情况 经与会监事认真审议，会议形成决议如下： 一、审议通过了《2024 年度监事会工作报告》 表决结果：3 票赞成，0 票反对，0 票弃权。 本议案尚需提交公司 2024 年年度股东大会 ...

| 证券代码：601199 | 证券简称：江南水务 | | 公告编号：临 2025-013 | | --- | --- | --- | --- | | 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 第八届董事会第二次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 江苏江南水务股份有限公司（以下简称"公司"或"江南水务"）第八届董事会 第二次会议于 2025 年 4 月 23 日在公司三楼会议室（江苏省江阴市滨江扬子江路 66 号）以现场表决方式召开。本次会议通知于 2025 年 4 月 13 日以电子邮件等方式向全 体董事、监事和高级管理人员发出。会议应到董事 9 人，实到董事 9 人，会议由董事 长华锋先生主持，公司全体监事及高级管理人员列席了会议。会议的召集、召开符合 《公司法》及《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 经与会董事认真审议，会议形成决议如下： （一）审议通过了《2024 年度董事会工作报告》 ...

Core Viewpoint - Jiangnan Water's 2024 annual report shows significant growth in revenue and net profit, highlighting the company's focus on smart water management and urban water quality improvement [1][2] Financial Performance - The company's operating revenue reached 1.53 billion yuan, a year-on-year increase of 12.4% - The net profit attributable to shareholders was 402 million yuan, up 24.3% year-on-year - The net profit excluding non-recurring items was 404 million yuan, reflecting a 35.4% year-on-year increase [1] Business Operations - Jiangnan Water's main business includes the production and sale of tap water, drainage, and related water treatment services, along with engineering and drainage operations [1] - The company is actively involved in the construction of "zero-carbon water plants," focusing on carbon management, energy efficiency, clean energy utilization, and smart operations [1] Industry Trends - The development of smart water management is increasingly recognized as a key indicator of urban management intelligence, driven by policies promoting digital infrastructure and environmental protection [1] - The company is implementing a "Smart Water 2.0" plan, integrating IoT, big data, and AI to enhance operational capabilities and decision-making [2] Infrastructure Improvement - The company has successfully won bids for integrated operation and management projects for rainwater and sewage systems, addressing issues related to aging water supply networks [2] - Upgrading old pipelines is expected to reduce leakage, improve water quality stability, and lower energy consumption in urban water supply [2]