ZPUG(SZ:000685) Zheng Quan Shi Bao Wang·2025-04-27 13:41Core Viewpoint - The environmental industry is undergoing cross-sector layout, which has become an inevitable path for industrial upgrading, and the collaborative efficiency among sectors is accelerating the transformation into financial performance for listed companies [1] Financial Performance - Zhongshan Public Utility (000685) reported a revenue of 5.678 billion yuan for the fiscal year 2024, representing a year-on-year increase of 9.22%, and a net profit attributable to shareholders of 1.199 billion yuan, up 24.02% year-on-year [2] - The total asset scale exceeded 32.411 billion yuan, with a year-on-year growth of 11.69%, marking a historical peak for both revenue and asset scale [2] Business Segments Performance - The water service segment achieved a revenue of 1.438 billion yuan in 2024, growing by 7.43% year-on-year, with the water supply business revenue reaching 805 million yuan, an increase of 11.60% year-on-year, and local market share rising to 94% [3] - The solid waste segment reported a revenue of 763 million yuan in 2024, with a remarkable year-on-year growth of 32%, processing 1.3825 million tons of household waste and generating 569 million kWh of electricity [4] - The renewable energy segment is rapidly growing, with over 60 distributed photovoltaic projects in operation across 18 cities, and a total installed capacity of approximately 250 MW, including over 180 MW added in 2024 [5] Management and Innovation - The company emphasizes internal management improvement and has established a multi-level innovation platform in collaboration with renowned research institutions, creating a complete innovation ecosystem from basic research to industrial application [6] - The digital transformation strategy includes a comprehensive upgrade of human resource management and financial control processes [6] Shareholder Returns - The company plans to distribute a cash dividend of 0.82 yuan per 10 shares, totaling 120 million yuan, along with a previously announced special dividend of 514 million yuan, leading to a total cash dividend of 634 million yuan for the year, which accounts for 52.89% of the distributable profit [8] - Over the past five years, the cumulative cash dividends have reached 2.107 billion yuan, with an average annual cash dividend ratio exceeding 30% [8]