证券代码：300021 证券简称：大禹节水 公告编号：2025－137 债券代码：123063 债券简称：大禹转债 大禹节水集团股份有限公司 关于大禹转债赎回结果的公告 本公司及其董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、 可转债基本情况 （一）可转债发行上市情况 经中国证券监督管理委员会（以下简称"中国证监会"）"证监许可[2020]1245 号"文核准，公司于 2020 年 7 月 28 日公开发行了 638 万张可转换公司债券，每 张面值 100 元，发行总额 6.38 亿元，期限 6 年。 经深圳证券交易所（以下简称"深交所"）"深证上[2020]733 号"文同意， 公司 6.38 亿元可转换公司债券于 2020 年 8 月 20 日起在深交所挂牌交易，债券 简称"大禹转债"，债券代码"123063"。 （二）可转债转股期限 根据《创业板公开发行可转换公司债券募集说明书》（以下简称"《募集说 明书》"）的有关规定，本次发行的可转债转股期自可转债发行结束之日（2020 年 7 月 28 日）满六个月后的第一个交易日（2021 年 2 月 3 日）起至本 ...

债券代码：123063 债券简称：大禹转债 证券代码：300021 证券简称：大禹节水 公告编号：2025－138 大禹节水集团股份有限公司 关于大禹转债摘牌的公告 本公司及其董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 公司发行的"大禹转债"自 2021 年 02 月 03 日起可转换为公司股份，初始 转股价格为人民币 4.94 元/股。 1、2020 年权益分派调整可转债转股价格 特别提示： 1、"大禹转债"赎回日：2025 年 8 月 21 日 一、 可转债基本情况 （一）可转债发行上市情况 经中国证券监督管理委员会（以下简称"中国证监会"）"证监许可[2020]1245 号"文核准，公司于 2020 年 7 月 28 日公开发行了 638 万张可转换公司债券，每 张面值 100 元，发行总额 6.38 亿元，期限 6 年。 经深圳证券交易所（以下简称"深交所"）"深证上[2020]733 号"文同意， 公司 6.38 亿元可转换公司债券于 2020 年 8 月 20 日起在深交所挂牌交易，债券 简称"大禹转债"，债券代码"123063"。 （二）可转债转股期限 ...

证券代码：300021 证券简称：大禹节水 公告编号：2025－136 债券代码：123063 债券简称：大禹转债 大禹节水集团股份有限公司 关于对外担保进展公告 本公司及其董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、 担保情况概述 大禹节水集团股份有限公司（以下简称"公司"）分别于2025年04月21日、 2025年05月13日召开了第六届董事会第三十八次会议和2024年年度股东大会，审 议通过了《关于公司2025年度对外担保额度预计的议案》，同意公司在2025年度 为下属公司的融资提供担保额度总计不超过人民币32.70亿元，担保方式包括但 不限于保证、质押、抵押；担保期限以实际签署的担保协议为准。公司可以根据 实际情况，在上述额度范围内，在符合要求的担保对象之间进行担保额度的调剂。 担保额度的调剂不跨越资产负债率超过70%的标准进行调剂。 近日，公司与中信银行股份有限公司天津分行（以下简称"中信银行天津分 行"）签订《最高额保证合同》，为子公司大禹节水（天津）有限公司（以下简 称"天津大禹"）在中信银行天津分行授信提供连带责任保证担保，担保金额 3,500 ...

从资金流向上来看，当日农业综合板块主力资金净流出2969.02万元，游资资金净流入241.65万元，散户 资金净流入2727.36万元。农业综合板块个股资金流向见下表： 证券之星消息，8月27日农业综合板块较上一交易日下跌2.7%，大禹节水领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。农业综合板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002556 | 辉隆股份 | 5.75 | -1.88% | 24.24万 | | 1.41亿 | | 830964 | 润农节水 | 8.22 | -3.18% | 7.48万 | | 6229.87万 | | 300021 | 大禹节水 | 5.21 | -3.70% | 65.60万 | | 3.50亿 | | | | | 代码 名称 主力净流入 (元) 主力净占比 游资净流入 (元) 游资净占比 散户净击比 | | | | | --- | --- | - ...

Core Insights - The company Dayu Water-saving (300021) reported a total revenue of 1.276 billion yuan for the first half of 2025, representing a year-on-year increase of 4.9%, while the net profit attributable to shareholders decreased by 33.24% to 12.5941 million yuan [1] - The second quarter of 2025 saw a decline in total revenue to 741 million yuan, down 1.71% year-on-year, and a significant drop in net profit attributable to shareholders by 56.75% to 4.3132 million yuan [1] - The company's accounts receivable is notably high, with accounts receivable accounting for 3578.39% of the latest annual net profit [1] Financial Performance - Total revenue for 2024 was 1.216 billion yuan, while for 2025 it increased to 1.276 billion yuan, showing a growth of 4.9% [1] - The net profit attributable to shareholders decreased from 18.8634 million yuan in 2024 to 12.5941 million yuan in 2025, a decline of 33.24% [1] - The gross profit margin improved slightly from 23.08% in 2024 to 23.25% in 2025, while the net profit margin fell from 0.79% to 0.45%, a decrease of 42.73% [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 253 million yuan, accounting for 19.8% of revenue, down 10.6% year-on-year [1] Cash Flow and Investment - The net cash flow from operating activities saw a drastic decline of 674.16%, attributed to decreased sales collections and increased procurement payments [2] - The net cash flow from investing activities increased by 49.6% due to lower investment expenditures [2] - The net increase in cash and cash equivalents dropped significantly by 535.36% due to increased operating activity expenditures [2] Return on Investment and Business Model - The company's return on invested capital (ROIC) was 4.35% last year, indicating historically weak capital returns, with a median ROIC of 5.79% over the past decade [2] - The net profit margin was reported at 2.5%, suggesting low added value for the company's products or services [2] - The business model relies heavily on research and marketing, necessitating a thorough examination of the underlying drivers of these aspects [2] Debt and Receivables - The company has a high debt ratio, with interest-bearing liabilities accounting for 31.38% of total assets [3] - The accounts receivable to profit ratio is extremely high at 3578.39%, indicating potential liquidity issues [3]

大禹节水 20250826 摘要 大禹节水总资产略降至 91.55 亿元，货币资金 12.02 亿元，应收账款下 降，显示稳健的财务管理。上半年净利润受非经常性损益影响同比下降， 但管理费用和财务费用均实现下降，降幅分别为 8.76%和 12%。 公司认为水利行业确定性强，水利投资占比提升至 29%。公司通过强化 项目管理、加速重点项目推进（如海南牛路岭项目）、提高软建设业务 占比及严控成本等措施应对市场变化，毛利率稳步回升。 公司下半年聚焦主业，以科技为动力，强化内部控制，提高财务质量。 订单方面，受益于超长期国债及地方政府专项债落地，预计下半年订单 情况将显著改善。 公司应收账款管理成效显著，回收超过 4,000 亿元的五年期以内及五年 期以上的应收账款，应收账款余额同比下降近 10%。 公司全国化布局，优化资源配置，与大型央企签订战略合作协议，积极 介入重大水利项目前期准备工作，主导和深度参与 30 余项两建设编制 工作，形成 144 份方案及报告。 Q&A 2025 年上半年大禹节水集团的财务表现如何？ 2025 年上半年，大禹节水集团实现营业收入 12.76 亿元，保持稳定。尽管面 临宏观经济和行业 ...

Core Viewpoint - The company held an online performance exchange meeting on August 26, 2025, to discuss its financial situation, performance, and future outlook, with participation from 23 institutions including various funds and banks [1][2]. Financial Performance - In the first half of 2025, the company achieved a stable operating revenue of 1.276 billion yuan, despite facing macroeconomic and industry cycle challenges [2]. - Total assets slightly decreased to 9.155 billion yuan due to temporary cash flow impacts, while cash balances were 1.202 billion yuan, showing a reasonable reduction [2]. - Net profit for the period was 5.7879 million yuan, with management expenses down by 8.76% and financial expenses down by 12% year-on-year [2]. - The company completed a convertible bond conversion amounting to 637 million yuan, with a conversion rate of 99.83%, increasing the share capital to 1.02 billion shares and reducing the debt-to-asset ratio to approximately 67% [2]. Performance Review and Outlook - Water conservancy investment accounted for about 30% of infrastructure investment, the highest among various sectors, with ongoing projects in Hainan, Ningxia, and Jiangxi [3]. - The company is focusing on enhancing the proportion of soft construction-related business while controlling costs, leading to a steady recovery in gross profit margins [3]. - Efforts to recover accounts receivable have been intensified, with over 40 million yuan recovered from accounts receivable over five years, and a nearly 10% year-on-year decrease in accounts receivable balance [3]. Strategic Focus - The company will concentrate on three main areas in the second half of the year: high-standard farmland, new construction and renovation of irrigation areas, and large-scale water diversion projects [4]. Investor Q&A Highlights - Order expectations indicate that orders in the first half were below expectations, but a significant increase is anticipated in the second half due to the issuance of national "two heavy" project lists [5]. - The "Xiao Hui" product series showcases the company's comprehensive solution capabilities, with a focus on government and related departments as primary customers [5]. - The company is progressing with the acquisition of a Class A design institute and has signed a strategic cooperation agreement with Huai'an Institute [5]. - The company is actively participating in the Yaxia project, establishing a subsidiary in Tibet, and aims to secure sub-contracting and supporting engineering orders [5]. Industry Insights - The company is committed to an international strategy, aiming to become a century-old enterprise in the irrigation sector, with a focus on brand building and marketing [7]. - The company emphasizes the importance of "soft construction" in driving the implementation of "two heavy" projects, which will enhance the competitive advantage of private enterprises [7].

Financial Performance - The company achieved a revenue of 1.276 billion yuan in the first half of 2025, maintaining stability despite macroeconomic challenges [3] - Total assets amounted to 9.155 billion yuan, showing a slight decrease due to temporary cash flow impacts [4] - Net profit reached 12.59 million yuan, with a net profit attributable to the parent company of 12.5941 million yuan, indicating a return to profitability compared to the previous year [3][4] Cost Management - Management expenses decreased by 8.76% year-on-year, while financial expenses dropped by 12% [4] - The company has effectively controlled sales expenses, contributing to an expanded profit margin [5] Investment and Project Development - Water conservancy investment accounted for approximately 30% of infrastructure investment, the highest among various sectors [5] - The company is actively advancing key projects such as Hainan Niululing and Ningxia Hongshibao, despite delays in project funding and indicators [5] Order and Market Outlook - The company anticipates a significant increase in order volume in the second half of the year, driven by the rapid advancement of high-standard farmland projects [5] - The company has established strategic partnerships with major state-owned enterprises, enhancing its competitive edge in project bidding [5] Product Development and Innovation - The company launched a series of solutions under the "XiaoHui" product line, focusing on areas with substantial national investment [6] - The product matrix includes comprehensive solutions for flood control, river management, and digital twin projects, showcasing the company's industry leadership [6] International Expansion Strategy - The company is committed to an internationalization strategy, aiming to become a century-old enterprise in the irrigation sector [12] - Current challenges include brand building and establishing a marketing and after-sales service system in international markets [12] - The company plans to focus on regions such as Central Asia and Southeast Asia for market expansion, leveraging its comprehensive service capabilities [12][13]

Group 1 - The agricultural comprehensive sector increased by 0.7% on August 26, with Dayu Irrigation leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] - Dayu Irrigation's closing price was 5.41, with a rise of 0.93%, and a trading volume of 574,100 shares, amounting to a transaction value of 310 million yuan [1] Group 2 - The net inflow of main funds in the agricultural comprehensive sector was 2.4708 million yuan, while retail funds saw a net inflow of 6.3097 million yuan [1] - Dayu Irrigation had a main fund net inflow of 4.119 million yuan, but a net outflow of 4.2287 million yuan from speculative funds [1] - Huolong Co. experienced a net outflow of 1.6483 million yuan from main funds and a net outflow of 4.5518 million yuan from speculative funds, while retail funds saw a net inflow of 6.2001 million yuan [1]

Core Insights - Dayu Water-saving Group Co., Ltd. reported a revenue of 1.276 billion yuan for the first half of 2025, representing a year-on-year growth of 4.9% [1] - The net profit attributable to shareholders was 12.5941 million yuan [1] Group 1: Business Performance - The company focused on the national trend of increasing investment in water conservancy construction, advancing its transformation and upgrading strategy [1] - Dayu Water-saving optimized resource allocation, adjusted marketing strategies, and tracked major project implementation plans comprehensively [1] - The gross profit margin of projects steadily improved due to enhanced cost reduction and efficiency measures [1] Group 2: Project Management - A total of 73 new and ongoing projects were initiated, emphasizing output, progress, quality, and safety [1] - The company achieved a project customer satisfaction rate of over 95% through a comprehensive service system covering all project phases [1] Group 3: Research and Development - The company increased its R&D investment, recommending 10 national research projects related to high-performance irrigation products and efficient agricultural technologies [2] - The core equipment of the sound wave rain enhancement device was upgraded, achieving system integration [2] - The company completed the design and trial operation of drip irrigation production equipment, breaking through technical bottlenecks [2] Group 4: Future Strategy - In the second half of the year, the company aims to focus on profit, market expansion, and organizational innovation to enhance quality and efficiency [2] - The strategy includes optimizing talent structure and improving team collaboration to seize opportunities for high-quality development [2]