公司总体经营稳健。荣获"2024 中国环境企业营收 50 强""广东省 500 强"等 荣誉，连续 12 年荣获"水业最具社会责任投资运营企业"，连续 6 年荣获中国上市 公司董事会"金圆桌奖"。 1 1.聚焦主责主业，加速提质升级 2024 年董事会工作报告 2024 年度，中山公用事业集团股份有限公司（以下简称"公司"或"中山公用"） 公司董事会严格按照《公司法》《证券法》《深圳证券交易所股票上市规则》《公司 章程》《公司董事会议事规则》等有关法律法规、规范性文件以及公司制度的规定， 充分发挥董事会"定战略、作决策、防风险"的职能，认真履行股东大会赋予的职责， 公司全体董事忠实勤勉、积极履职，科学决策，强化公司治理，确保规范运作，有效 维护了公司及全体股东的合法权益，保障了公司健康和可持续发展。现将 2024 年度 董事会主要工作报告如下: 一、经营概述 2024 年，公司保持战略定力，坚持"奋斗、担当、实干"，聚焦主责主业，深化 改革创新、优化治理体系，持续推动 2021-2026 年战略规划落地，公司发展韧性不断 增强，高质量发展步伐持续加快。 报告期内公司实现营业收入 56.78 亿元，同比增长 9 ...

中山公用事业集团股份有限公司 2024 年度财务决算报告 中山公用事业集团股份有限公司（以下简称"公司"、"中山公用"）2024 年度财 务报表及相关报表附注已经中审众环会计师事务所（特殊普通合伙）审计，并出具了标准 无保留意见的审计报告。现将公司（合并）2024 年度财务决算的相关情况汇报如下： 一、2024 年度公司主要财务指标 单位：万元 | 项 目 | 2024 年 | 2023 年 | 增减额 | 增减率 | | --- | --- | --- | --- | --- | | 营业收入 | 567,817.87 | 519,902.45 | 47,915.42 | 9.22% | | 归属于上市公司股东的净利润 | 119,882.04 | 96,664.80 | 23,217.24 | 24.02% | | 归属于上市公司股东的扣除非经 常性损益的净利润 | 118,760.19 | 91,246.73 | 27,513.46 | 30.15% | | 经营活动产生的现金流量净额 | -24,867.14 | 60,616.37 | -85,483.51 | -141.02% | | 基本每股收益 ...

本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 重要内容提示： 证券代码：000685 证券简称：中山公用 公告编号：2025- 031 中山公用事业集团股份有限公司 关于召开 2024 年度业绩说明会的公告 会议召开时间：2025年5月8日（星期四）15:00-17:00 会议召开方式：网络文字互动方式 网络文字互动地址： 1.深圳证券交易所"互动易"平台"云访谈"栏目（http://irm.cninfo.com.cn） 2.价值在线-易董价值平台路演广场（https://eseb.cn/1nzjnjKfN84） 一、业绩说明会类型 中山公用事业集团股份有限公司（以下简称"公司"）《2024年年度报告》及摘要 于2025年4月26日在《证券时报》《中国证券报》《证券日报》《上海证券报》和巨潮资 讯网（http://www.cninfo.com.cn）上披露。 为进一步加强公司与投资者的深入交流，使投资者更加全面、深入地了解情况，公 司决定以网络文字互动方式召开2024年度业绩说明会，欢迎广大投资者积极参与，公司 将广泛听取投资者意见和建议。 二、业绩说明会召开 ...

Financial Performance - The company's operating revenue for 2024 reached ¥5,678,178,699.81, representing a 9.22% increase compared to ¥5,198,990,506.55 in 2023[16]. - Net profit attributable to shareholders for 2024 was ¥1,198,820,443.69, a 24.02% increase from ¥967,284,815.98 in 2023[16]. - The net profit after deducting non-recurring gains and losses was ¥1,187,601,869.78, reflecting a 30.06% increase from ¥913,104,162.51 in 2023[16]. - The company's total assets increased by 11.69% to ¥32,411,166,172.47 at the end of 2024, up from ¥29,006,980,559.53 at the end of 2023[16]. - The net assets attributable to shareholders rose by 6.88% to ¥17,512,631,577.72 at the end of 2024, compared to ¥16,377,679,084.68 at the end of 2023[16]. - The basic earnings per share for 2024 was ¥0.82, a 24.02% increase from ¥0.66 in 2023[16]. - The net cash flow from operating activities was negative at -¥248,671,370.90, a decline of 141.02% from ¥604,191,125.07 in 2023[16]. - The weighted average return on equity increased to 7.08%, up by 1.04 percentage points from 6.05% in 2023[16]. Dividend Policy - The company plans to distribute a cash dividend of 0.82 CNY per 10 shares (including tax) to all shareholders based on the total share capital after deducting repurchased shares[1]. - The total distributable profit available for shareholders at the end of 2024 was 7,541,932,882.71 CNY, with a cash dividend of 120,353,952.66 CNY proposed, representing 100% of the profit distribution total[190][194]. - The cash dividend per 10 shares is set at 0.82 CNY (including tax), with a total of 1,475,111,351 shares outstanding, excluding repurchased shares[194]. - The company plans to maintain a cash dividend ratio of at least 30% of the distributable profit, with a minimum of 20% for cash dividends specifically[188]. - The total cash dividend distributed, including a special dividend of 3.50 CNY per 10 shares already paid, amounts to approximately 52.89% of the company's distributable profit for the year[194]. - The company has established a differentiated cash dividend policy based on its development stage and capital expenditure needs, with a minimum cash dividend ratio of 40% for mature stages with significant capital expenditures[189][191]. Corporate Governance - The company has enhanced its governance structure, receiving recognition such as the "Board of Directors Value Creation Award" and being listed among the "Top 50 ESG Listed Companies in the Greater Bay Area" for its governance practices[54]. - The company emphasizes the importance of information disclosure, adhering to principles of truthfulness, accuracy, completeness, and timeliness[143]. - The company is committed to improving corporate governance and enhancing decision-making processes through specialized committees[141]. - The company operates independently from its controlling shareholders, with clear separation in personnel, finance, assets, organization, and business operations[147]. - The company has a dedicated financial department with an independent accounting system, further reinforcing its financial autonomy[147]. - The company has a clear strategy for ongoing communication and feedback with investors, enhancing their understanding and confidence in the company's direction[144]. - The company has established a robust investor relations management system, enhancing communication with investors through various channels, including earnings briefings and investor hotlines[144]. - The company held three shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[139]. Risk Management - The company has a comprehensive risk analysis and response strategy outlined in the management discussion section of the annual report[1]. - The company faces macroeconomic policy risks that could impact its performance, and it will strengthen policy analysis and response mechanisms[130]. - The company is addressing profitability growth risks by expanding its industry chain and optimizing operational management to improve service quality[130]. - The company has implemented measures to regularly analyze and assess its asset and operational status to mitigate risks[86]. Environmental Initiatives - The environmental protection industry is transitioning towards a green low-carbon economy, with a focus on water resource management and infrastructure modernization[27]. - The cumulative installed capacity of distributed photovoltaic power is expected to reach 370 million kilowatts by the end of 2024, accounting for 42% of the total installed capacity[37]. - The solid waste treatment industry aims for a 30% resource utilization rate for construction waste by 2024, with significant investments in "waste-free city" initiatives[34]. - The smart sanitation sector is projected to improve operational efficiency by over 30% through the application of IoT and AI technologies[35]. - The company is focusing on the development of new products and technologies in the waste incineration sector, enhancing its industry presence[77]. Strategic Development - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[63]. - The company aims to innovate in new energy development by leveraging financial tools to support the construction of zero-carbon industrial parks and the integration of energy storage systems[126]. - The company will implement a closed-loop management system to enhance strategic planning and execution, focusing on core business innovation and market recognition[128]. - The company is committed to deepening organizational reforms and enhancing market mechanisms to stimulate development momentum and improve operational efficiency[129]. Human Resources - The total number of employees at the end of the reporting period is 5,794, with 5,713 from major subsidiaries and 81 from the parent company[181]. - The company plans to optimize its salary performance system in 2024, shifting from KPI to OKR for performance assessments[183]. - In 2024, the company aims to train over 13,000 employees, achieving a training coverage rate of 100%[185]. - The company is focused on establishing a competitive salary mechanism and welfare system to enhance employee benefits[182]. Investments and Acquisitions - The company holds a 10.55% stake in Guangfa Securities and has established multiple investment funds to support strategic development[49]. - The company has completed several equity investments, including ¥96,850,560.96 in Guangfa Securities, representing a 0.21% stake[94]. - The company has ongoing significant non-equity investments, with a total actual investment of RMB 1.16 billion and cumulative actual investment of RMB 3.45 billion as of the end of the reporting period[100]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and expand its service offerings[162]. Internal Control and Compliance - The internal control system has been continuously improved to enhance decision-making efficiency and ensure compliance with legal regulations[196]. - The internal control evaluation report indicates that there were no significant defects in financial reporting for the year 2024[199]. - The internal control audit report confirms that the company maintained effective internal controls over financial reporting as of December 31, 2024[200]. - The company has implemented measures to ensure compliance with recognized accounting standards and anti-fraud procedures[199].

特别提示： 中山公用事业集团股份有限公司 2024 年面向专业投资者公开发行科技创新公司债券 (第二期)（债券简称：24 中山 K2，债券代码：148707，以下简称"本期债券"）将于 2025 年 4 月 28 日（因 2025 年 4 月 26 日为休息日，故顺延至其后的第一个工作日）支付 2024 年 4 月 26 日至 2025 年 4 月 25 日期间的利息 2.38 元(含税)/张。本次债券付息期的债权 登记日为 2025 年 4 月 25 日，凡在 2025 年 4 月 25 日（含）前买入并持有本期债券的投资 者享有获得本次利息款的权利；2025 年 4 月 25 日(含）前卖出本期债券的投资者不享有本 次派发的利息。 一、债券基本情况 | 证券代码：000685 | 证券简称：中山公用 | | | 编号：2025-023 | | --- | --- | --- | --- | --- | | 债券代码：148707 | 债券简称：24 | 中山 | K2 | | 中山公用事业集团股份有限公司 2024 年面向专业投资者公开发行科技创新 公司债券（第二期）2025 年付息公告 本公司及董事会全 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [4][6]. Core Views - The report highlights that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power companies. Recommendations include major thermal power enterprises such as Huadian International and Shanghai Electric [3][6]. - Continuous government policies supporting renewable energy development are anticipated to stabilize profitability in the renewable energy sector. Recommended companies include Longyuan Power, Three Gorges Energy, and regional offshore wind power companies like Guangxi Energy and Funiu Co [3][6]. - The growth in installed capacity and power generation is expected to offset the downward pressure on electricity prices, with nuclear power companies like China Nuclear Power and China General Nuclear Power projected to maintain stable profitability [3][6]. - High-dividend hydropower stocks are highlighted for their defensive attributes in a global interest rate decline context, with recommendations for Changjiang Electric Power [3][6]. - The environmental sector, particularly water and waste incineration industries, is entering a mature phase with significant improvements in free cash flow. Recommended companies include China Everbright Environment and Zhongshan Public Utilities [3][6]. Summary by Sections Market Review - The Shanghai Composite Index rose by 0.59%, while the public utility index increased by 1.77%. The environmental index saw a slight increase of 0.04% [12][19]. - In March, the total electricity consumption reached 828.2 billion kWh, marking a year-on-year growth of 4.8% [13][49]. Important Policies and Events - The report notes that in March, the first industry electricity consumption was 10.6 billion kWh (up 9.9%), the second industry was 557.8 billion kWh (up 3.8%), and the third industry was 148.4 billion kWh (up 8.4%) [13][52]. Key Company Profit Forecasts and Investment Ratings - Huadian International, Jin Kai New Energy, Shanghai Electric, Longyuan Power, and others are rated as "Outperform" with specific EPS and PE forecasts provided [6]. Industry Dynamics - The report discusses the decline in the import of mass spectrometers from the US, with a significant drop in both import value and quantity from 2020 to 2024 [15][17]. Sector Performance - The report indicates that the public utility and environmental sectors ranked 7th and 23rd respectively among 31 industry classifications in terms of performance [12][19]. Electricity Industry Data - The report provides detailed statistics on electricity generation, noting a 1.8% year-on-year increase in industrial electricity production in March, with specific growth rates for different energy sources [42][49]. Carbon Market Overview - The report includes insights into the domestic carbon market, highlighting recent price trends and trading volumes [86][87]. Coal Price Trends - The report notes that the price of thermal coal remained stable, with the price at the port reported at 678 RMB/ton [99].

Group 1 - The core index of the CSI 1000 Public Utilities Index closed at 3151.51 points, with mixed performance among the three major A-share indices [1] - The CSI 1000 Public Utilities Index has decreased by 0.62% over the past month, increased by 3.49% over the past three months, and has declined by 3.66% year-to-date [2] - The index is composed of liquid and representative securities from various industries, providing diverse investment options for investors [2] Group 2 - The top ten weighted stocks in the CSI 1000 Public Utilities Index include Jilin Electric Power (6.89%), Jinkai New Energy (5.33%), and Linyang Energy (5.24%) [2] - The index's holdings are primarily from the Shanghai Stock Exchange (55.26%) and the Shenzhen Stock Exchange (44.74%) [2] - The industry composition of the index shows that electricity and grid account for 72.26%, gas for 15.98%, water services for 10.17%, and heating and others for 1.59% [2] Group 3 - The index samples are adjusted semi-annually, with adjustments implemented on the next trading day following the second Friday of June and December [3] - In special circumstances, the index may undergo temporary adjustments, such as when a sample stock is delisted or undergoes mergers, acquisitions, or splits [3] - Changes in the industry classification of sample stocks will also lead to corresponding adjustments in the CSI 1000 industry index [3]

金融界4月11日消息，上证指数低开高走，中证全指水公用事业指数 (水务指数，H30218)报2179.88点。 数据统计显示，中证全指水公用事业指数近一个月上涨0.07%，近三个月上涨4.36%，年至今下跌 4.08%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数样 本随之进行相应调整。在样本公司有特殊事件发生，导致其行业归属发生变更时，将对中证全指行业指 数样本进行相应调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形 的处理，参照计算与维护细则处理。 据了解，为反映中证全指指数样本中不同行业公司证券的整体表现，为投资者提供分析工具，将中证全 指指数样本按中证行业分类分为11个一级行业、35个二级行业、90余个三级行业及200余个四级行业， 再以进入各一、二、三、四级行业的全部证券作为样本编制指数，形成中证全指行业指数。该指数以 2004年12月31日为 ...

Group 1 - The report emphasizes the defensive attributes of the public utility sector, particularly in light of recent policy changes aimed at enhancing price governance mechanisms [1][14][30] - In March, the Shanghai Composite Index fell by 0.07%, while the public utility index rose by 1.87%, indicating a relative outperformance of the sector [1][32] - The report highlights the significant drop in coal prices, which enhances the profitability of thermal power generation, with a projected increase in earnings per kilowatt-hour as coal prices decrease [2][16][18] Group 2 - The report recommends major thermal power companies such as Huadian International and Shanghai Electric, citing their resilience in the face of declining coal prices and electricity prices [3][30] - It notes that the water and waste incineration sectors are entering a mature phase, with improved free cash flow and a favorable investment environment due to declining risk-free rates [31] - The report identifies high-dividend water power stocks, particularly Changjiang Electric Power, as having strong defensive characteristics and long-term investment value [24][25][29] Group 3 - The report discusses the expected stability in nuclear power company earnings, recommending companies like China Nuclear Power and China General Nuclear Power [3][30] - It highlights the growth potential in the renewable energy sector, recommending leading companies such as Longyuan Power and Three Gorges Energy, which are expected to benefit from ongoing government support for new energy development [3][30] - The report also points out the significant market opportunity in the domestic waste oil recycling industry, recommending companies like Shanggou Environmental Energy as beneficiaries of upcoming EU policies [31]

从中证1000公用事业指数持仓的市场板块来看，上海证券交易所占比56.02%、深圳证券交易所占比 43.98%。 从中证1000公用事业指数持仓样本的行业来看，电力及电网占比72.13%、燃气占比16.34%、水务占比 9.95%、供热及其他占比1.58%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样本中剔除。样本公司发生收 购、合并、分拆等情形的处理，参照计算与维护细则处理。当中证1000指数调整样本时，中证1000行业 指数样本随之进行相应调整。在样本有特殊事件发生，导致其行业归属发生变更时，将对中证1000行业 指数样本进行相应调整。 金融界3月31日消息，上证指数下跌0.46%，中证1000公用事业指数 (1000公用，H30448)报3155.13点。 数据统计显示，中证1000公用事业指数近一个月上涨2.02%，近三个月下跌6.05%，年至今下跌3.55%。 据了解，中证1000指数行业指数系列从每个行业内选取流动性和市场代表性较好的证券作为指数样本， 形成10条中证1000行业指 ...