Core Insights - BWSY (碧水源) is a leading provider of wastewater treatment and resource recovery solutions in China, established in 2001 and listed on the Shenzhen Stock Exchange in 2010 [1] Financial Performance - For Q3 2025, BWSY reported revenue of 4.372 billion yuan, ranking 6th among 51 companies in the industry, with the industry leader, Chuangshui Environmental, generating 13.453 billion yuan [2] - The net profit for the same period was 6.1175 million yuan, placing BWSY at 38th in the industry, while the top performer reported a net profit of 1.908 billion yuan [2] Financial Ratios - As of Q3 2025, BWSY's debt-to-asset ratio was 63.03%, higher than the industry average of 49.82% and up from 62.01% in the previous year [3] - The gross profit margin for BWSY was 23.97%, lower than the industry average of 32.13% and down from 27.77% year-on-year [3] Executive Compensation - The chairman, Huang Jianglong, received a salary of 491,900 yuan in 2024, a decrease of 425,400 yuan from 2023 [4] - The president, Chen Chunsheng, earned 1.0168 million yuan in 2024, down by 25,200 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.05% to 75,100, while the average number of shares held per shareholder increased by 1.06% to 44,900 [5] - Major shareholders include E Fund's ChiNext ETF and Southern CSI 500 ETF, both of which saw a reduction in their holdings [5]

Core Insights - On October 29, 2023, BWS (碧水源) executed a block trade of 480,000 shares, amounting to 2.0736 million yuan, which represented 1.54% of the total trading volume for the day. The transaction price was 4.32 yuan, reflecting a discount of 1.82% compared to the market closing price of 4.4 yuan [1][2]. Summary by Categories Trading Details - The block trade involved a total of 480,000 shares at a price of 4.32 yuan per share [2]. - The total transaction value was 2.0736 million yuan [1][2]. - The trade accounted for 1.54% of the total trading volume on that day [1]. Brokerage Information - Both the buyer and seller were represented by Everbright Securities Co., Ltd., specifically through its Ningbo Liuting Street branch [2].

Market Overview - The environmental governance sector increased by 0.53% on October 29, with Shanghai Xiba leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Notable gainers in the environmental governance sector included: - Shanghai Xiba (603200) with a closing price of 92.86, up 6.64% [1] - Baolijie (920802) at 18.51, up 6.20% [1] - Haitan Co. (603759) at 11.00, up 5.87% [1] - Fulongma (603686) at 25.57, up 5.49% [1] - Huicheng Environmental (300779) at 161.07, up 5.29% [1] - Conversely, the following stocks experienced declines: - Haixia Environmental (603817) at 7.17, down 7.00% [2] - ST Taihe (605081) at 11.23, down 4.99% [2] - Zhuojin Co. (688701) at 9.22, down 4.55% [2] Capital Flow - The environmental governance sector saw a net inflow of 339 million yuan from institutional investors, while retail investors experienced a net outflow of 178 million yuan [2][3] - Major stocks with significant capital inflows included: - Fulongma (603686) with a net inflow of 3.12 billion yuan [3] - Shanghai Xiba (603200) with a net inflow of 196 million yuan [3] - Huicheng Environmental (300779) with a net inflow of 116 million yuan [3] - Stocks with notable net outflows included: - Fulongma (603686) with a net outflow of 1.11 billion yuan from retail investors [3] - Shanghai Xiba (603200) with a net outflow of 4.51 million yuan from retail investors [3]

Group 1 - The core point of the article is that BWS (碧水源) announced a board meeting to discuss the issuance of medium-term notes and provided insights into its revenue composition for the first half of 2025 [1] - BWS's revenue composition for the first half of 2025 shows that environmental protection and water treatment account for 87.71%, while the municipal sector contributes 12.29% [1] - As of the report, BWS has a market capitalization of 16.1 billion yuan [1] Group 2 - The article also mentions a separate company promoting overseas real estate tokenization, which has drawn attention for its aggressive marketing strategies [1]

证券代码：300070 证券简称：碧水源 公告编号：2025-061 北京碧水源科技股份有限公司 第六届董事会第十七次会议决议公告 本议案以 8 票同意，0 票反对，0 票弃权获得通过。 二、审议通过《关于拟注册发行中期票据的议案》； 为满足公司未来生产经营和业务发展的资金需求，进一步拓宽公司融资渠 道，优化融资结构，降低融资成本，根据《银行间债券市场非金融企业债务融 资工具管理办法》等规定，公司拟申请注册发行中期票据，具体发行方案如下： 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 北京碧水源科技股份有限公司（以下简称"公司"）第六届董事会第十七 次会议于 2025 年 10 月 27 日上午 9：30 在公司会议室以现场及通讯方式召开， 会议通知于 2025 年 10 月 17 日以电话及电子邮件方式送达。本次会议应参加董 事 8 人，实际参加董事 8 人，其中独立董事 3 人。本次董事会的召集和召开符 合《中华人民共和国公司法》和《公司章程》的规定。 会议由公司董事长黄江龙先生主持，经全体董事表决，审议了以下议案： 一、审议通过《关于<2025 年第三 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,443,658,442.99, representing a year-on-year increase of 10.93%[3] - The net profit attributable to shareholders for the same period was ¥27,334,846.70, a decrease of 7.97% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥25,441,645.64, an increase of 36.23% year-on-year[3] - Total operating revenue for the current period is ¥4,371,731,603.47, a decrease of 7.95% from ¥4,749,763,026.85 in the previous period[28] - Operating profit for the current period is ¥42,590,718.05, a decline of 50.83% compared to ¥86,652,447.08 in the previous period[28] - The total profit for the current period is 44,508,412.98, compared to 111,636,355.33 in the previous period, indicating a significant decrease[29] - The net profit for the current period is 6,117,460.50, down from 44,709,454.61 in the previous period, reflecting a decline in profitability[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥82,402,951,431.27, reflecting a 3.33% increase from the end of the previous year[3] - Total current assets increased to ¥28,124,239,087.09 from ¥25,818,036,750.29, representing an increase of 8.93%[24] - Total non-current assets rose to ¥54,278,712,344.18 from ¥53,925,753,225.11, marking an increase of 0.65%[24] - Total liabilities increased to ¥51,942,062,069.67 from ¥49,584,354,368.36, reflecting a growth of 4.77%[25] - Total equity increased to ¥30,460,889,361.60 from ¥30,159,435,607.04, showing an increase of 1.00%[25] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥45,179,692.61, showing a significant increase of 105.63%[8] - The cash flow from operating activities for the current period is 45,179,692.61, a recovery from a negative cash flow of -803,005,247.12 in the previous period[30] - The total cash inflow from financing activities is 13,355,569,802.54, compared to 17,770,409,226.07 in the previous period, showing a decrease in financing[31] - The net cash flow from investing activities is -1,069,220,442.06, worsening from -844,806,998.91 in the previous period, indicating increased investment outflows[31] - The cash and cash equivalents at the end of the period amount to 3,692,344,754.15, up from 3,625,832,630.18 in the previous period, indicating a slight increase in liquidity[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 75,100[10] - The voting rights of the controlling shareholder, China Urban and Rural Holdings Group, decreased by 33,799,500 shares, representing a reduction of 0.93% of the total share capital[18] - The company disclosed that a major shareholder's 37,449,534 shares were subject to judicial auction[17] Expenses and Investments - The company's inventory increased by 60.95% to ¥363,920,843.53, primarily due to an increase in stock of goods and raw materials[6] - Sales expenses rose by 42.94% to ¥150,647,441.12, mainly due to increased market expansion efforts[6] - The company reported an investment loss of ¥61,077,730.10, a 52.50% improvement compared to the previous year, attributed to changes in the profits and losses of affiliated companies[11] - Research and development expenses for the current period were ¥181,021,597.58, slightly down from ¥184,424,732.83, a decrease of 1.95%[28] Other Corporate Actions - The company issued the second phase of green technology innovation bonds on July 9-10, 2025, and the fourth phase of technology innovation bonds on August 22, 2025[16] - The company announced the resignation of its president, Huang Jianglong, who will continue to serve as the party secretary and chairman[19] - The company will no longer establish a supervisory board, with the audit committee of the board of directors assuming its responsibilities[15] - The company has not yet audited the third-quarter report, which may affect the reliability of the financial data presented[32]

Core Viewpoint - The company plans to issue medium-term notes with a total amount not exceeding 4 billion RMB, with a maturity of no more than 5 years [1] Fund Utilization - The raised funds will be used for project construction, supplementing working capital, and repaying interest-bearing liabilities [1] Approval Process - The issuance requires approval from the shareholders' meeting and registration approval from the China Interbank Market Dealers Association [1]

北京碧水源科技股份有限公司 关于拟注册发行中期票据的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 北京碧水源科技股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日 召开了第六届董事会第十七次会议，审议通过了《关于拟注册发行中期票据的议 案》。为满足公司未来生产经营和业务发展的资金需求，进一步拓宽公司融资渠 道，优化融资结构，降低融资成本，根据《银行间债券市场非金融企业债务融资 工具管理办法》等规定，公司拟申请注册发行中期票据，现将有关情况公告如下： 一、本次拟发行中期票据的基本方案 1．发行主体：北京碧水源科技股份有限公司 2．债务融资工具种类：中期票据 3．发行额度：不超过 40 亿元人民币(含 40 亿元)，具体额度以公司在中国 银行间市场交易商协会 (以下简称"交易商协会") 注册的金额为准； 4．发行期限：本次发行的中期票据期限不超过 5 年(含 5 年)，具体发行期 限将根据公司实际资金需求和发行时市场情况等最终确定，可以是单一期限品 种，也可以是多种期限品种的组合； 证券代码：300070 证券简称：碧水源 公告编号：20 ...

证券代码：300070 证券简称：碧水源 公告编号：2025-064 北京碧水源科技股份有限公司 关于拟注册发行超短期融资券的公告 6. 发行利率：根据发行时银行间债券市场的情况，由发行人和主承销商协 商，以簿记建档的结果最终确定； 7. 资金用途：用于补充公司流动资金、偿还金融机构借款以及其他中国银 行间市场交易商协会认可的用途； 8. 决议有效期：本次拟发行超短期融资券的决议有效期为自股东会审议通 过之日起24个月，如公司已在前述有效期内取得注册文件的，则公司可在该等注 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 北京碧水源科技股份有限公司（以下简称"公司"）于2025年10月27日召开 了第六届董事会第十七次会议，审议通过了《关于拟注册发行超短期融资券的议 案》。为进一步拓宽公司融资渠道，降低融资成本，增强公司资金管理的灵活性， 根据《银行间债券市场非金融企业债务融资工具管理办法》等规定，公司拟申请 注册发行超短期融资券，现将有关情况公告如下： 一、本次发行超短期融资券的具体方案 1. 发行主体：北京碧水源科技股份有限公司 2. 发行规模：本次拟申请 ...

Core Viewpoint - The stock of Beijing Enterprises Water Group has shown fluctuations, with a recent increase of 2.07% and a total market capitalization of 16.055 billion yuan, despite a year-to-date decline of 12.38% [1] Financial Performance - For the first half of 2025, the company reported a revenue of 2.928 billion yuan, representing a year-on-year decrease of 15.09%, and a net profit attributable to shareholders of -107 million yuan, down 47.25% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 1.777 billion yuan, with 279 million yuan distributed over the last three years [3] Shareholder Information - As of September 20, 2025, the number of shareholders increased to 75,900, with an average of 44,427 circulating shares per person, a slight decrease of 0.21% [2] - The top ten circulating shareholders include notable ETFs, with E Fund's ChiNext ETF holding 52.6703 million shares, a decrease of 711,400 shares, while Southern's CSI 500 ETF increased its holdings by 4.475 million shares to 32.4417 million shares [3] Market Activity - The stock's trading activity shows a net inflow of 10.3112 million yuan from main funds, with significant buying and selling from large orders [1] - The stock has experienced a slight increase of 2.31% over the last five trading days, but a decline of 1.34% over the past 20 days and 6.54% over the last 60 days [1] Business Overview - Beijing Enterprises Water Group, established on July 17, 2001, focuses on wastewater treatment and resource recovery technologies, with 87.71% of its revenue coming from the environmental sector and 12.29% from municipal services [1] - The company is categorized under the environmental governance sector, specifically in water management [1]