Core Viewpoint - A new study reveals unprecedented freshwater loss on Earth over the past 20 years due to climate change, over-extraction of water resources, and frequent droughts [1][2] Group 1: Freshwater Loss and Its Impact - The study, conducted by researchers from Arizona State University, utilized satellite gravity measurement data to estimate changes in total freshwater storage across continents, including rivers, groundwater, glaciers, and ice caps [1] - From 2002 to 2024, many regions worldwide have experienced alarming declines in freshwater, with arid areas drying out faster than humid areas can replenish [1][2] - The area of arid regions is expanding at a rate exceeding 800,000 square kilometers per year, equivalent to the combined land area of the UK and France [1] Group 2: Major Drought Areas - Researchers identified four major drought regions where previously scattered freshwater loss areas have merged into large dry zones, including northern Canada and Russia, primarily due to glacier melting and permafrost thawing [1][2] - In two other regions, freshwater loss is mainly attributed to groundwater depletion caused by irrigation practices, covering the southwestern United States, much of Central America, and extending from Western Europe to North Africa and northern India [2] Group 3: Consequences of Freshwater Loss - The study indicates that freshwater loss has become a significant contributor to rising sea levels, surpassing the contributions from melting Antarctic or Greenland ice sheets, with an annual sea level rise of nearly 1 millimeter since 2015 [2] - The researchers express concern that 75% of the global population resides in 101 countries where freshwater has been depleting over the past 22 years [2] Group 4: Call to Action - The findings are described as a "wake-up call" for the planet, emphasizing the need for ongoing research to help policymakers address severe water resource challenges [3] - There is a call for community-level initiatives to make meaningful changes, particularly regarding the over-extraction of groundwater [3][4] - The urgency for immediate global action on water security is highlighted, stressing the potential threat to food and water security for billions of people [4]

Group 1 - The meeting emphasized the importance of implementing the spirit of the Central Eight Regulations and the need for continuous education within the department [1][2] - The department's party organizations have effectively carried out the learning and education initiatives, achieving significant progress [1] - There is a call for higher political awareness and the need to translate strict requirements into concrete measures to ensure quality in learning and effectiveness in implementation [1] Group 2 - The meeting highlighted the necessity of tightening the responsibility chain and enhancing the sense of urgency regarding the education initiatives [2] - It was stressed that strict measures and a serious atmosphere must be maintained to ensure accountability and effective supervision [2] - The focus will be on addressing prominent issues and key areas to ensure the tasks set by the Central Committee and the department's leadership are thoroughly implemented [2]

Financial Data and Key Metrics Changes - Revenue grew 16% on a reported basis and 6% organically in 2024, setting several new records for the company [30] - Net income margins expanded by 210 basis points, and EBITDA margins increased by 170 basis points [31] - Earnings per share increased by 31% [31] Business Line Data and Key Metrics Changes - The company delivered cost synergies from the Evoqua integration faster than expected, contributing to strong financial performance [31] - Focused resources on technologies that deliver the most value to customers and shareholders, including a majority stake in the XilinView platform with Adreco [32] Market Data and Key Metrics Changes - The company is positioned to address growing global water security needs as water scarcity and related natural disasters increase [32][33] Company Strategy and Development Direction - The company is evolving to align its operating model with purpose and profitability, simplifying its structure and transforming its culture [28][29] - A long-range plan was outlined to create a step change in value creation, emphasizing a high-impact culture centered on leadership, accountability, and innovation [29] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed full-year guidance based on the existing tariff scheme and outlined mitigation actions to manage costs [36] - The company is committed to helping customers and communities build a more water-secure world, reflecting a strong focus on sustainability and long-term growth [28][33] Other Important Information - The company ratified the appointment of Deloitte and Touche LLP as its independent registered public accounting firm for 2025 with approximately 96.7% of votes in favor [24] - Shareholder proposal to lower the threshold for calling special meetings was voted against by approximately 54% of shareholders [25] Q&A Session Summary Question: Will tariffs have a big impact on profit margins and what is being done to minimize the impact? - Management stated that they reaffirmed full-year guidance based on the tariff scheme in effect and included a tariff schedule in their earnings deck, with mitigation actions around price and supply chain moves to fully mitigate costs [36]