Jiangsu United Water Technology (603291)2025-04-24 13:05Financial Performance - The company achieved a consolidated net profit of ¥155,507,895.19 for the year 2024, with a net profit attributable to shareholders of ¥149,926,081.23[6] - The total undistributed profit balance as of December 31, 2024, was ¥801,264,194.39 for the consolidated entity and ¥371,787,012.06 for the parent company[6] - The proposed cash dividend distribution is ¥1.50 per 10 shares, totaling ¥63,483,090.60 (including tax), which represents 52.22% of the net profit attributable to shareholders for 2024[7] - The company distributed a total cash dividend of ¥78,295,811.74 (including tax) for the year, including interim dividends of ¥14,812,721.14[7] - The company's operating revenue for 2024 was CNY 1,140,402,852.76, representing a 1.12% increase compared to CNY 1,127,808,755.27 in 2023[25] - The net profit attributable to shareholders for 2024 was CNY 149,926,081.23, a decrease of 5.89% from CNY 159,313,627.55 in 2023[25] - The net cash flow from operating activities decreased by 18.77% to CNY 284,319,268.74 in 2024 from CNY 350,034,066.01 in 2023[25] - The total assets of the company increased by 2.20% to CNY 3,715,236,459.21 at the end of 2024 compared to CNY 3,635,143,272.14 at the end of 2023[25] - The basic earnings per share for 2024 was CNY 0.3543, down 8.24% from CNY 0.3861 in 2023[26] - The weighted average return on equity decreased by 1.42 percentage points to 8.62% in 2024 from 10.04% in 2023[26] - The net profit after deducting non-recurring gains and losses was CNY 94,819,213.92, a decline of 21.37% from CNY 120,585,917.09 in 2023[25] Operational Highlights - The company reported a net asset attributable to shareholders of CNY 1,776,354,257.45 at the end of 2024, an increase of 4.12% from CNY 1,706,085,803.70 at the end of 2023[25] - The first quarter of 2024 saw operating revenue of CNY 235,368,176.72, with a net profit attributable to shareholders of CNY 33,635,215.50[30] - The company experienced a non-recurring loss of CNY 1,252,218.26 from the disposal of non-current assets in 2024[29] - EBITDA for the year was CNY 446.57 million, reflecting a growth of 5.50% compared to the previous year[37] - Water sales volume reached 19,500.77 million cubic meters, representing a year-on-year growth of 1.02%[38] - Revenue from sewage treatment and resource utilization was CNY 312.58 million, reflecting a growth of 5.15% compared to the previous year[39] Investment and Projects - The company is investing approximately RMB 220 million in the "Phase V Project of the Second Water Plant in Suqian," which will increase water supply capacity from 430,000 cubic meters/day to 550,000 cubic meters/day[40] - The "Phase II Water Supply Network Expansion Project" in Xianning has an estimated investment of up to RMB 180 million, aimed at improving local water supply capacity[40] - The "Upgrading and Transformation Project of Tongxiang Shenhe Wastewater Treatment Plant" has completed construction and is now compliant with Zhejiang's wastewater discharge standards[40] - The company is actively pursuing price adjustment applications for sewage treatment fees to ensure reasonable profitability amid rising operational costs[39] Sustainability and ESG Initiatives - The company emphasizes sustainable development, achieving a balance between economic, social, and environmental values in its operations[57] - The company established a three-tier ESG governance structure and renamed the "Strategic Committee" to "Strategic and ESG Committee" in March 2024 to enhance ESG management decision-making[60] - The company received multiple ESG awards, including recognition as a "2024 Excellent Practice Case for Sustainable Development" by the China Listed Companies Association[61] - The company is committed to advancing smart water management and integrating new technologies such as 5G and IoT to optimize operational efficiency[162] - The management emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 25% over the next five years[197] Market Expansion and Strategy - The company is actively developing overseas markets, particularly in South Asia, Southeast Asia, and the Middle East, where water resource management is still in its early stages[51] - The company aims to expand its industrial wastewater treatment business, leveraging the increasing demand for efficient and low-cost wastewater pre-treatment solutions[50] - The company plans to actively expand into international markets in South Asia, Southeast Asia, and the Middle East, in response to the Belt and Road Initiative[165] - The company is considering strategic acquisitions to bolster its market position, with a budget of 20 million towards R&D initiatives aimed at enhancing service efficiency[196] - The company is investing heavily in R&D, with a budget increase of 25%, totaling 150 million for new technology development[199]