2025 年 5 月 20 日 江苏联合水务科技股份有限公司 2024 年年度股东大会会议材料 中国上海 江苏联合水务科技股份有限公司 2024 年年度股东大会会议材料 江苏联合水务科技股份有限公司 2024年年度股东大会会议材料目录 | 一、公司2024年年度股东大会会议须知 1 | | --- | | 二、公司2024年年度股东大会会议议程 3 | | 议案： | | 议案1：《关于公司2024年年度报告全文及摘要的议案》 5 | | 议案2：《关于公司2024年度董事会工作报告的议案》 6 | | 议案3：《关于公司2024年度监事会工作报告的议案》 25 | | 议案4：《关于公司2024年度财务决算报告的议案》 30 | | 议案5：《关于公司2024年度独立董事述职报告的议案》 31 | | 议案6：《关于公司2024年度利润分配预案的议案》 32 | | 议案7：《关于公司2025年度向银行等金融机构申请融资额度的议案》 34 | | 议案8：《关于公司2025年度对外担保额度预计的议案》 36 | | 议案9：《关于续聘2025年度会计师事务所的议案》 39 | | 议案10：《关于确认公司董 ...

证券代码：603291 证券简称：联合水务 公告编号：2025-027 会议召开时间：2025 年 05 月 20 日(星期二)上午 10:00-11:30 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2025 年 05 月 13 日(星期二)至 05 月 19 日(星期一)16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 IR@united-water.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 江苏联合水务科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 25 日发布公司 2024 年年度报告及 2025 年第一季度报告，为便于广大投资者更全面 深入地了解公司 2024 年度及 2025 年第一季度经营成果、财务状况，公司计划于 2025 年 05 月 20 日（星期二）上午 10:00-11:30 举行 2024 ...

证券代码：603291 证券简称：联合水务 公告编号：2025-026 江苏联合水务科技股份有限公司 关于2025年4月提供担保的进展公告 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。 ● 被担保人名称：江苏联合水务科技股份有限公司（以下简称"公司"）,本次担保不属于关联担保。 ● 本次担保金额及已实际为其提供的担保余额：本次公司全资子公司咸宁联合水务有限公司（以下简 称"咸宁联合水务"）为公司提供的担保金额为人民币4,800万元。上述担保事项后，扣除已履行到期的 担保，公司下属子公司已累计向公司提供的担保余额为人民币41,858.81万元。 ● 本次担保是否有反担保：无 ● 对外担保逾期的累计数量：无 2025年4月7日，公司与交通银行股份有限公司宿迁分（支）行（以下简称"交通银行宿迁分行"）签署 《综合授信合同》（合同编号：Z2514SY15606046），公司向交通银行宿迁分行申请综合授信额度人民 币4,000万元整。同日，公司全资子公司咸宁联合水务与交通银行宿迁分行签署《保证合同》（合同编 号：C250402GR39 ...

证券代码：603291 证券简称：联合水务 公告编号：2025-026 江苏联合水务科技股份有限公司 关于 2025 年 4 月提供担保的进展公告 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。 （一）担保基本情况简介 本次担保事项后，扣除已履行到期的担保，公司下属子公司已累计向公司提 供的担保余额为人民币41,858.81万元。 2025年4月7日，公司与交通银行股份有限公司宿迁分（支）行（以下简称"交 通银行宿迁分行"）签署《综合授信合同》（合同编号：Z2514SY15606046）， 公司向交通银行宿迁分行申请综合授信额度人民币4,000万元整。同日，公司全 资子公司咸宁联合水务与交通银行宿迁分行签署《保证合同》（合同编号： C250402GR3989736），为前述银行授信业务提供连带责任保证，本次保证人担 （二）担保事项履行的内部决策程序 为满足公司及下属子公司日常经营和业务发展的资金需要，提高决策效率， 统筹安排公司及下属子公司（含控股、全资子公司）的担保事项，公司于2024 年4月26日召开第二届董事会第六次会议 ...

华福证券 乘"一带一路"东风，海外业务持续推进。公司积极在南亚、东南亚和中 东区域开拓海外市场。南亚、东南亚地区人口密集，水务行业尚处发展初期， 供水及污水处理市场空间广阔；中东地区淡水资源匮乏，在供水和园区的工业 污水处理方面颇具前景。目前，孟加拉达卡项目一期正常运营中，项目二期 DMA 管网、泵房设计工作基本完成、采购招投标等前期工作正在准备，共分 四期建设完成。公司积极配置资源致力于新的海外水务项目持续落地，有望乘 "一带一路"东风，开启第二成长曲线。 华福证券 证 券 研 盈利预测与投资建议。水价调整方案有望落地，业绩将有所改善；降本增 效成果显著，受益"量价齐升"；海外业务有条不紊，有望开启第二成长曲线。 结合公司整体经营情况，预计公司 2025-2026 年归母净利润分别为 1.70/1.97 亿 元（前值 2.07/2.39 亿元），新增 2027 年归母净利润 2.16 亿元；2025-2027 年 EPS 分别为 0.40、0.47、0.51 元/股（前值 25-26 年为 0.49、0.56 元/股），对应 PE 分别为 26.9、23.2、21.2 倍，维持"持有"评级。 究 报 风险提 ...

Core Viewpoint - The company reported its 2024 annual results and Q1 2025 results, showing a slight increase in revenue but a decline in net profit, indicating short-term pressure while anticipating improvements from water price adjustments [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 1.14 billion yuan, a year-on-year increase of 1.12%; net profit attributable to shareholders was 150 million yuan, down 5.89%; and net profit excluding non-recurring items was 95 million yuan, down 21.37% [1]. - For Q1 2025, the company reported operating revenue of 253 million yuan, a year-on-year increase of 7.47%; net profit attributable to shareholders was 13 million yuan, down 62.76%; and net profit excluding non-recurring items was 8 million yuan, down 52.09% [1]. - The company plans to distribute a cash dividend of 1.50 yuan per 10 shares (before tax) for 2024 [1]. Operational Highlights - The company achieved a water sales volume of 1.95 billion cubic meters in 2024, a year-on-year increase of 1.02%; the settlement volume for wastewater treatment and resource utilization was 1.60 billion cubic meters, up 4.78% [2]. - The construction of the fifth phase of the Suqian No. 2 Water Plant is underway, which will increase the water supply capacity in the Suqian area from 430,000 m³/day to 550,000 m³/day [2]. - The company implemented a precise dosing system, resulting in a 4.78% increase in wastewater treatment volume while reducing chemical costs by 5.56%, improving cost structure [2]. Strategic Initiatives - The company is actively expanding its overseas market presence in South Asia, Southeast Asia, and the Middle East, where there is significant growth potential in the water supply and wastewater treatment sectors [3]. - The Dhaka project in Bangladesh is currently operational, with the second phase's design and procurement processes underway [3]. - The company aims to leverage the "Belt and Road" initiative to establish a second growth curve through new overseas water projects [3]. Profit Forecast and Investment Recommendations - The anticipated water price adjustment is expected to improve performance; significant cost reduction and efficiency gains are noted, benefiting from "volume and price increase" [3]. - The company forecasts net profits attributable to shareholders of 170 million yuan in 2025, 197 million yuan in 2026, and 216 million yuan in 2027, with corresponding EPS of 0.40, 0.47, and 0.51 yuan per share [3].

Core Viewpoint - The company reported a slight increase in revenue but a decrease in net profit, indicating challenges in core operations and ongoing upgrades in wastewater treatment facilities [2][4]. Financial Performance - In 2024, the company achieved operating revenue of 1.14 billion yuan, a year-on-year increase of 1% - The net profit attributable to shareholders was 150 million yuan, a year-on-year decrease of 6% - For Q1 2025, the company reported operating revenue of 253 million yuan, a year-on-year increase of 7% - The net profit attributable to shareholders for Q1 2025 was 13 million yuan, a significant year-on-year decrease of 63% [1][2]. Business Segments - Water supply and related businesses generated revenue of 595 million yuan, a year-on-year decrease of 4%, with a gross margin of 36.82%, down 2.44 percentage points - Wastewater treatment and resource utilization businesses achieved revenue of 313 million yuan, a year-on-year increase of 5%, with a gross margin of 38.14%, down 0.97 percentage points - EPC and BOT construction businesses combined generated revenue of 217 million yuan, a year-on-year increase of 49% [2]. Project Development - Domestic projects are progressing steadily, including the "Second Water Plant Phase V Project" in Suqian and the "Wangying Reservoir Water Supply Phase II Project" in Xianning, which will enhance regional water supply capacity - The "Tongxiang Shenhe Wastewater Treatment Plant Upgrade Project" has completed acceptance and registration, while price adjustments for wastewater treatment in Jingzhou and Tongxiang are actively being pursued - The company is also focusing on cost reduction and efficiency improvement through technological innovation, including the implementation of solar projects and a precision dosing system [3]. International Expansion - The company is deepening its "Belt and Road" initiative, with ongoing operations in the Purbachal New City Water Supply and Distribution Facilities Development PPP Project in Dhaka, Bangladesh - Future international business efforts will focus on South Asia, Southeast Asia, and the Middle East, with increased investment in overseas project development [3]. Emerging Industries and Green Development - The company is exploring industrial layouts in carbon neutrality, energy conservation, and high-tech sectors - Investments include acquiring a 50% stake in Unitedearth4Earth Holding for CCUS development and establishing a venture capital partnership focused on environmental and ESG technology [4]. Profit Forecast - The company forecasts operating revenues of 1.29 billion yuan, 1.46 billion yuan, and 1.66 billion yuan for 2025-2027, with year-on-year growth rates of 13.18%, 13.24%, and 13.29% - Net profits attributable to shareholders are projected to be 172 million yuan, 198 million yuan, and 229 million yuan for the same period, with growth rates of 14.52%, 15.56%, and 15.26% respectively [4].

具体来看，2024年，公司首个"水务+光伏"项目在宿迁市第二水厂试点实施，装机容量2.70MWp，平均 每年发电量330万千瓦时，与同类容量的燃煤火电厂相比，年节约标准煤983.61吨、减少二氧化碳排放 2655.72吨、二氧化硫减排8.36吨、氮氧化物减排7.28吨，该项目于报告期末已实现并网发电。 另外一个"水务+光伏"项目在公司全资子公司瑞昌联合水务有限公司实施，装机容量1.48MWp，平均每 年发电量143.37万千瓦时，与同类容量的燃煤火电厂相比，年节约标准煤427.33吨、减少二氧化碳排放 1153.71吨、二氧化硫减排3.63吨、氮氧化物减排3.16吨，该项目于2024年年末完成项目建设，待并网发 电。 本报讯 （记者李亚男）4月24日晚间，江苏联合水务科技股份有限公司（以下简称"联合水务"）发布 2024年年度报告。2024年，公司实现营业收入11.4亿元，同比增长1.12%；实现归属于母公司股东的净 利润1.5亿元。 联合水务是一家综合性全方位的水务公司，业务包括自来水生产与供应、污水处理与资源化利用、河湖 流域水治理和水生态修复等水环境治理业务。公司通过投资、建设和运营等方式从水源头到水龙 ...

Core Viewpoint - The company is committed to enhancing quality and efficiency while ensuring investor returns through its 2024 "Quality Improvement and Efficiency Enhancement" action plan, which has been approved by the board of directors [1][3]. Group 1: Business Focus and Performance - The company focuses on its core business in water services, including water supply, sewage treatment, and environmental management, with a processing capacity of approximately 2.7 million cubic meters per day [2]. - In 2024, the company achieved a revenue of 1,140.40 million yuan, a year-on-year increase of 1.12%, driven by increased water sales and sewage treatment [3]. - The company's EBITDA for 2024 was 446.57 million yuan, reflecting a growth of 5.50% compared to the previous year [3]. - The net profit attributable to shareholders was 149.93 million yuan, a decrease of 5.89% year-on-year, primarily due to increased capital expenditures for sewage treatment plant upgrades [3]. Group 2: Technological Innovation - The company emphasizes technological innovation as a core driver of development, with its subsidiary focusing on R&D in water treatment and environmental management technologies [5][6]. - In 2024, the subsidiary obtained 6 new patents, bringing the total to 18, and also received recognition as a high-tech enterprise [6]. - The company successfully launched a multifunctional water environment management unmanned vessel, enhancing its capabilities in water quality monitoring and management [7]. Group 3: Investor Returns - The company has a strong commitment to cash dividends, distributing 1.50 yuan per 10 shares for the 2023 fiscal year, totaling approximately 63.48 million yuan [9][10]. - The company plans to continue its dividend policy, proposing a similar distribution for the 2024 fiscal year, pending shareholder approval [10]. Group 4: Corporate Governance - The company has revised over 20 governance documents to enhance compliance and internal management, ensuring a higher level of governance [12]. - The board has established an ESG committee to integrate environmental, social, and governance considerations into its strategic planning [12][19]. Group 5: Market Engagement and Value Management - The company actively engages with investors, conducting roadshows and strategy meetings to enhance communication and transparency [14][15]. - The company has implemented a comprehensive market value management strategy, focusing on sustainable growth and shareholder returns [14]. Group 6: Sustainable Development and ESG Performance - The company is committed to sustainable development, achieving significant reductions in pollution and enhancing water resource efficiency [17]. - The company has received multiple awards for its ESG performance, reflecting its commitment to responsible business practices [20].

一、独立董事基本情况 （一）独立董事人员情况 公司董事会由 9 名董事组成，其中独立董事 3 人，独立董事占董事会人数三 分之一，符合相关法律法规及公司制度的规定。 （二）独立董事个人工作履历、专业背景以及兼职情况 作为公司独立董事，本人拥有专业资质及能力，在从事的专业领域积累了丰 富的理论知识与实践经验。本人个人专业背景、工作履历以及兼职情况如下： 江苏联合水务科技股份有限公司 2024 年度独立董事述职报告 本人连平，作为江苏联合水务科技股份有限公司（以下简称"公司"）董事 会的独立董事，在 2024 年的工作中严格按照《公司法》《上市公司独立董事管 理办法》及《公司章程》《江苏联合水务科技股份有限公司独立董事工作制度》 等相关规定和要求，勤勉、尽责、忠实履行独立董事职责，密切关注公司经营情 况，按时出席相关会议，认真审议董事会及下设专门委员会各项议案，切实维护 了公司和股东尤其是中小股东的利益。现将 2024 年度履行独立董事职责的工作 情况汇报如下： 连平，1956 年出生，中国国籍，无境外永久居留权，博士。1982 年至 1984 年任华东师范大学第一附属中学教师；1987 年至 1998 年任华东 ...