Core Viewpoint - Deep Water Haina, established in 2001 and listed in 2021, is a high-tech enterprise in the environmental water industry, focusing on wastewater treatment and aiming to be an innovative comprehensive service provider in the water ecological environment sector [1] Financial Performance - For Q3 2025, Deep Water Haina reported revenue of 265 million, ranking 39th out of 51 in the industry, significantly lower than the top competitor, Beijing Capital Eco-Environment Protection Group, which had 13.453 billion, and the second competitor, Xirong Environment, with 6.548 billion [2] - The net profit for the same period was -22.44 million, placing the company 47th in the industry, far behind the leading firms with net profits of 1.908 billion and 1.812 billion respectively [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 70.80%, an increase from 64.67% year-on-year, and above the industry average of 49.82%, indicating significant debt pressure [3] - The gross profit margin was reported at 27.46%, down from 39.87% year-on-year and below the industry average of 32.13%, reflecting a decline in profitability [3] Executive Compensation - The chairman, Li Haibo, received a salary of 1.2989 million in 2024, an increase of 304,100 from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.88% to 23,600, while the average number of circulating A-shares held per account increased by 0.89% to 6,475.48 [5]

Market Overview - The environmental governance sector declined by 0.9% compared to the previous trading day, with Deepwater Haina leading the decline [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Top Performers - Fulongma (603686) saw a significant increase of 10.01%, closing at 28.13 with a trading volume of 1.15 million shares and a transaction value of 3.08 billion [1] - Yuanda Environmental (600292) rose by 9.98%, closing at 66.61 with a trading volume of 624,900 shares and a transaction value of 863 million [1] - Sanfeng Environment (601827) increased by 4.60%, closing at 8.64 with a trading volume of 275,800 shares and a transaction value of 238 million [1] Underperformers - Deepwater Haina (300961) experienced a decline of 5.82%, closing at 16.03 with a trading volume of 109,900 shares and a transaction value of 178 million [2] - Haixia Environmental (603817) fell by 5.16%, closing at 6.80 with a trading volume of 431,400 shares and a transaction value of 297 million [2] - Yuhua Tian (300815) decreased by 4.78%, closing at 22.91 with a trading volume of 147,900 shares and a transaction value of 344 million [2] Capital Flow - The environmental governance sector saw a net outflow of 485 million from institutional investors, while retail investors had a net inflow of 395 million [2][3] - The top stock, Fulongma, had a net inflow of 281 million from institutional investors, while it faced a net outflow of 78.32 million from speculative funds [3] - Yuanda Environmental had a net inflow of 158 million from institutional investors but a significant outflow of 1.33 billion from speculative funds [3]

Core Viewpoint - The company reported a total of 27.87 million yuan in credit impairment losses and asset impairment losses for the first three quarters of 2025, reflecting a cautious approach to asset valuation and compliance with accounting standards [6][10]. Financial Data - The company did not require retrospective adjustments or restatements of previous accounting data [3]. - The financial report for the third quarter of 2025 was not audited [6]. - The total amount of credit impairment losses was 25.54 million yuan, with 23.80 million yuan attributed to accounts receivable and 1.74 million yuan to other receivables [8]. Impairment Losses - The company conducted a comprehensive review of various assets, including inventory, receivables, and fixed assets, leading to the recognition of impairment losses [7][10]. - The total impairment losses included 2.32 million yuan for contract assets [9]. Shareholder Information - The company confirmed that there were no changes in the number of shareholders or significant shareholders participating in the securities lending business [5].

证券代码：300961 证券简称：深水海纳 公告编号：2025-051 一、本次计提信用减值损失及资产减值损失的情况概述 1、本次计提信用减值损失及资产减值损失的原因 依照《企业会计准则》及公司会计政策的相关规定，公司对合并范围内截止 2025 年第三季度末的各类存货、应收款项、合同资产、其他应收款、固定资产、 在建工程、无形资产等资产进行全面清查，对各类存货的可变现净值、应收款项 回收的可能性、固定资产、长期股权投资、在建工程、无形资产等资产的可变现 性进行充分的评估和分析，认为上述资产中部分资产存在一定的减值迹象，本着 谨慎性原则，对可能发生减值损失的资产计提减值准备。 深水海纳水务集团股份有限公司 2、本次计提信用减值损失及资产减值损失的范围和总金额 关于 2025 年前三季度计提信用减值损失和资产减值损失的公告 公司及下属子公司对 2025 年第三季度末存在可能发生减值迹象的资产进行 全面清查和资产减值测试后，2025 年前三季度计提及转回信用减值损失后、计 提资产减值损失后共计人民币 2,787.07 万元，具体情况如下： 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 ...

Group 1 - The core viewpoint of the news is that 深水海纳 reported a decline in revenue and a net loss for the third quarter of 2025, indicating financial challenges for the company [1] - For the first three quarters of 2025, the company's revenue was approximately 265 million yuan, representing a year-on-year decrease of 15% [1] - The net profit attributable to shareholders was a loss of approximately 24.12 million yuan, with basic earnings per share showing a loss of 0.1361 yuan [1] Group 2 - As of the report, 深水海纳 has a market capitalization of 3 billion yuan [2] - The A-share market has recently surpassed 4000 points, marking a significant recovery after a decade of stagnation, with technology leading the market's resurgence [2]

Financial Performance - The company's revenue for Q3 2025 was ¥98,915,966.98, representing a decrease of 5.22% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥8,443,359.23, a decline of 282.51% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥2,948,703.31, an increase of 17.47% compared to the previous year[5]. - Total operating revenue decreased to ¥264,543,536.08 from ¥311,213,978.00, representing a decline of approximately 15% year-over-year[18]. - Net profit for the period was a loss of ¥22,440,188.06, compared to a profit of ¥795,800.39 in the previous period, indicating a significant downturn[19]. - The total comprehensive income for the period was a loss of ¥22,440,188.06, compared to a gain of ¥795,800.39 in the prior period[20]. Cash Flow - The operating cash flow net amount for the year-to-date was ¥35,221,863.42, showing a significant increase of 379.78%[5]. - The net cash flow from operating activities was $35,221,863.42, a significant improvement compared to a net outflow of $12,589,003.89 in the previous period[23]. - Total cash outflow from operating activities amounted to $238,278,329.92, down from $300,142,215.29[23]. - Cash inflow from investment activities was $6,080,678.21, compared to only $1,000.00 in the previous period[23]. - The net cash flow from investment activities was -$2,404,014.03, an improvement from -$70,033,202.99[23]. - Cash inflow from financing activities totaled $90,171,590.00, a decrease from $721,785,870.30[23]. - The net cash flow from financing activities was -$42,088,071.86, compared to a positive net flow of $32,147,801.07 previously[23]. - The ending balance of cash and cash equivalents was $2,186,842.44, down from $2,875,671.54[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,580,333,961.03, down 4.58% from the end of the previous year[5]. - The company's total current assets amount to ¥808,794,067.35, a decrease from ¥913,559,070.63 at the beginning of the period[15]. - The total liabilities amount to ¥1,252,762,365.55, down from ¥1,302,800,871.52, reflecting a reduction of about 3.9%[15]. - The company's total liabilities decreased to ¥1,826,908,044.53 from ¥1,927,043,014.09, a reduction of approximately 5%[18]. - The company's equity attributable to shareholders decreased by 3.18% to ¥733,396,515.69 compared to the end of the previous year[5]. - The total equity attributable to shareholders decreased to ¥733,396,515.69 from ¥757,516,071.89, reflecting a decline of about 3%[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 23,561[11]. - The largest shareholder, Li Haibo, holds 13.93% of shares, totaling 24,700,000 shares, with 18,525,000 shares pledged[11]. - The second-largest shareholder, Investment Holdings Limited, owns 10.81% of shares, amounting to 19,166,231 shares, all of which are unpledged[11]. Expenses - Research and development expenses were ¥10,237,545.83, down from ¥12,924,211.75, a reduction of approximately 21%[18]. - Financial expenses decreased to ¥13,954,462.45 from ¥17,223,768.39, a decline of about 19%[19]. - The company reported a significant increase in tax and additional charges, totaling ¥11,270,023.37, which is up 276.50% compared to the previous year[9]. Other Information - The company did not undergo an audit for the third quarter financial report[24]. - The company will implement new accounting standards starting in 2025[24].

Core Viewpoint - The major shareholders of Deep Water Haina Water Group Co., Ltd. have completed their share reduction plan, which involved a total reduction of 3,534,300 shares, accounting for 1.99% of the company's total share capital [2][5]. Group 1: Shareholder Reduction Details - The share reduction took place from July 25, 2025, to October 24, 2025, through centralized bidding and block trading methods [2]. - The shares reduced were sourced from the shares held prior to the company's initial public offering [2]. Group 2: Compliance and Impact - The share reduction complies with relevant laws and regulations, including the Company Law of the People's Republic of China and the Shenzhen Stock Exchange's rules [4]. - The reduction will not lead to a change in the company's control, as the shareholders involved are not the controlling shareholders or actual controllers of the company [5].

Group 1 - The core point of the news is that Deepwater Haina (SZ 300961) announced the completion of a share reduction plan by shareholders Li Qin and Tibet Dayu, resulting in a total reduction of 3.5343 million shares, which accounts for 1.99% of the company's total share capital [1] - As of the report date, Deepwater Haina has a market capitalization of 3.1 billion yuan [2] - For the year 2024, the company's revenue composition is entirely from the environmental protection industry, with a 100.0% share [1]

| 股东名称 | 减持区间 | 减持方式 | 减持均价 （元/股） | 减持数量 （股） | 减持比例 （%） | | --- | --- | --- | --- | --- | --- | | 李琴 | 2025 年 7 月 25 日~2025 年 10 月 24 日 | 集中竞价 | 18.22 | 1,661,700 | 0.9373 | | 李琴在 年 2025 7 | 月 25 日~2025 | 年 月 10 24 | 日期间内减持合计 | 1,661,700 | 0.9373 | | 西藏大禹 | 2025 年 7 月 25 日~2025 年 10 月 24 日 | 集中竞价 | 16.59 | 89,900 | 0.0507 | 一、股东减持情况 证券代码：300961 证券简称：深水海纳 公告编号：2025-049 深水海纳水务集团股份有限公司 关于合计持股 5%以上股东股份减持计划实施完成的公告 公司董事李琴女士及其一致行动人西藏大禹投资有限公司保证向本公司提 供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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 ...

证券代码：300961 证券简称：深水海纳 公告编号：2025-048 深水海纳水务集团股份有限公司 关于收到中标通知书的公告 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。 近日，深水海纳水务集团股份有限公司(以下简称"公司")收到由睢宁县桃岚 污水处理有限公司、睢宁县桃岚工业供水有限公司发出的《中标通知书》，确定 公司为睢宁县桃岚污水处理有限公司及睢宁县桃岚工业供水有限公司运营维护 项目的中标人，现将中标情况公告如下: 一、中标通知书主要内容 1、项目名称：睢宁县桃岚污水处理有限公司及睢宁县桃岚工业供水有限公 司运营维护项目 4、委托运营内容：提供污水处理一、二期和工业供水一、二期的运营、管 理、维护服务，包括生产运营、水量计量、水质化验、药剂等生产物资供应、危 固废(污泥)运输及处置、尾水生态湿地管理、设备及场内外供电供水排水等管网 (专线)的维保，帮助招标人培训水厂管理人员、应急物资应急演练、应急监测等， 满足合同要求的运维服务标准。 5、项目地点：睢宁县 104 国道北侧，老龙河西侧，朱官路东侧及睢宁县桃 岚化工园纬六路 1 号 6、中标金额：污水及 ...