ZPUG(SZ:000685)2025-08-29 10:30Financial Performance - The company's operating revenue for the first half of 2025 was CNY 2,121,262,487.38, representing a decrease of 1.51% compared to the same period last year[17]. - Net profit attributable to shareholders increased by 29.55% to CNY 719,435,197.75, compared to CNY 555,228,950.59 in the previous year[17]. - The net profit after deducting non-recurring gains and losses rose by 36.05% to CNY 713,634,748.78[17]. - Basic earnings per share increased by 29.55% to CNY 0.49 per share[17]. - The weighted average return on net assets improved to 4.13%, up by 0.81 percentage points from the previous year[17]. - The company's operating revenue for the reporting period was approximately 2.121 billion yuan, a decrease of 1.51% compared to the previous year[60]. - The company's operating costs were approximately 1.651 billion yuan, down 1.36% year-on-year[60]. - Sales expenses increased by 13.05% to approximately 36.36 million yuan compared to the previous year[60]. - Management expenses rose by 8.31% to approximately 158.29 million yuan year-on-year[60]. - The company reported a significant increase in tax expenses, rising by 350.74% to CNY 65,272,727.19, mainly due to water resource tax reforms[61]. - The company reported a total investment of ¥909,598,622.19 for the current period, representing a 100% increase compared to ¥455,329,971.31 in the same period last year[77]. Assets and Liabilities - The company's total assets at the end of the reporting period reached CNY 35,658,009,036.18, an increase of 10.02% from the end of the previous year[17]. - Long-term equity investments accounted for 44.61% of total assets, showing a decrease of 2.61% compared to the previous year[69]. - The company's total liabilities increased to ¥1,073,566,790.52, up 2.06% from ¥308,887,120.17, mainly due to the establishment of linked joint accounts[70]. - The company’s total debt increased to 6,600 million with various liabilities due in the coming years[139]. - The total approved external guarantee amount at the end of the reporting period is CNY 89.31 million, with an actual guarantee balance of CNY 63.98 million[135]. Revenue Segments - The environmental water service segment achieved revenue of 786 million RMB, accounting for 37.07% of total revenue, with a year-on-year growth of 13.82%[26]. - The water supply business generated revenue of 427 million RMB, a year-on-year increase of 13.47%, driven by the integration of supply services and the acquisition of Xiaolan Water[26]. - The solid waste segment reported revenue of 399 million RMB, representing 18.79% of total revenue, with a year-on-year growth of 14.89%[30]. - The new energy segment saw a significant revenue increase of 174.97%, attributed to the launch of new projects[64]. - The engineering segment's revenue decreased by 13.87% to CNY 732,403,077.03, primarily due to a reduction in water pollution control projects[64]. Investments and Acquisitions - The company holds a 10.57% stake in Guangfa Securities and has established multiple investment funds to enhance its main business ecosystem[35]. - The company completed the acquisition of a 51% stake in Zhongshan Xiaolan Water Co., Ltd. for ¥268,581,976.94, with total payments made amounting to ¥174,578,285.02[79]. - The company acquired a 70% stake in Zhongshan Gongyong Dayong Water Environment Governance Co., Ltd. for ¥126,000,000.00, with the investment completed[78]. - The company has ongoing investments in various water supply and environmental projects, reflecting its commitment to infrastructure development[82]. Governance and Management - The company has completed the election of a new board of directors and management team, aiming to enhance governance and operational capabilities[16]. - The company is committed to improving governance and information disclosure quality to fulfill its responsibilities as a listed entity[105]. - The company has established a valuation enhancement plan to boost market confidence and investor trust[102]. - The company is actively working to mitigate water quality safety risks through a comprehensive water quality control system and emergency response mechanisms[101]. Environmental and Social Responsibility - The company is committed to sustainable development, having received an ESG rating of A and being included in several ESG rankings in 2024[58]. - 中山公用在2025年上半年结对25个村（社区），解决实际问题180项，实施13个帮扶项目[113]. - 在水务基础设施升级方面，惠及超过1500户、5000名群众，实施二次供水改造工程[113]. - 中山公用在2025年绿化美化行动中，参与植树党员干部超过600人次，助力城乡高质量发展[115]. Cash Flow and Financing - The net cash flow from operating activities improved by 10.31%, amounting to CNY -369,643,888.51[17]. - Financing activities resulted in a net cash inflow of CNY 745,603,875.56, an increase of 61.94% year-on-year[61]. - The total cash inflow from financing activities was 1,722,184,976.53, compared to 2,229,468,667.09, indicating a decrease in financing inflows[192]. - The company reported a net cash flow from investment activities of 207,866,685.73, a significant recovery from -351,706,144.00 in the previous period[192]. Shareholder Information - The company's total share capital is 1,475,111,351 shares, with 85.01% being unrestricted shares[152]. - The largest shareholder, Zhongshan Investment Holding Group Co., Ltd., holds 48.73% of the shares, totaling 718,878,206 shares[154]. - The company repurchased a total of 7,380,221 shares, accounting for 0.5% of the total share capital, through a dedicated repurchase account by June 30, 2025[156]. - The top ten shareholders include Zhongshan Investment Holding Group with 502,115,069 shares and CITIC Financial Asset Management with 118,671,633 shares[156].