Group 1: Investor Relations Activities - The company held an investor relations event on September 19, 2025, from 14:00 to 17:00, via an online platform [2] - The event included a performance briefing for investors and addressed various questions raised by them [2] Group 2: Company Performance and Strategy - The company is focused on sustainable high-quality development, enhancing business outreach, and expanding into water environment governance and industrial wastewater treatment [3] - The company aims to strengthen its core competitiveness in the packaging and printing sector while actively responding to national dual carbon policies [3] Group 3: Shareholder Engagement and Market Stability - The company has implemented a profit distribution policy, with cumulative cash dividends from 2022 to 2024 expected to account for approximately 122% of the average annual net profit attributable to shareholders during that period [3] - The company emphasizes the importance of investor relations management, enhancing information disclosure, and ensuring compliance to protect investors' rights [3] Group 4: Stock Price and Market Factors - The company acknowledges that stock price fluctuations are influenced by various factors and commits to improving its operational efficiency and information disclosure [3] - The company has not disclosed any negative news that could impact stock performance and does not have plans to withdraw from the market [3]

Investor Day 2025 TM Transform. Innovate. Accelerate. 2025 INVESTOR DAY 1 Welcome and Opening Remarks Ann Giancristoforo Vice President, Investor Relations 2 2 2025 INVESTOR DAY 2025 INVESTOR DAY Forward looking statements On January 15, 2025, DuPont de Nemours, Inc. ("DuPont", or after the completion of the Intended Electronics Separation, "New DuPont") announced it is targeting November 1, 2025 to complete the intended separation of its Electronics business (the "Intended Electronics Separation") by way o ...

Core Viewpoint - Jiangnan Waterworks (601199.SH) has stated on its interactive platform that the company is currently not implementing any pipeline direct drinking water projects [1] Summary by Categories - Company Status - Jiangnan Waterworks has confirmed that it is not engaged in any pipeline direct drinking water projects at this time [1]

格隆汇9月18日丨江南水务(601199.SH)在互动平台表示，公司目前未实施管道直饮水项目。 ...

Core Insights - Chongqing Water's stock price remained unchanged on September 17, with a trading volume of 43.62 million yuan [1] - The company reported a net financing inflow of 0.98 million yuan on the same day, with a total financing and margin balance of 88 million yuan [1][2] - The company achieved a revenue of 3.519 billion yuan in the first half of 2025, reflecting a year-on-year growth of 7.16% [2] Financing and Margin Data - On September 17, Chongqing Water had a financing buy-in of 5.2245 million yuan and a financing repayment of 4.2445 million yuan, resulting in a net buy-in of 0.98 million yuan [1] - The total financing balance was 87.4558 million yuan, accounting for 0.39% of the market capitalization, which is below the 20th percentile of the past year [1] - The company had a margin balance of 0.5444 million yuan, with a margin volume of 115,100 shares, indicating a low level compared to the past year [1] Business Performance - As of June 30, the number of shareholders increased to 41,700, with an average of 114,989 circulating shares per person, a slight decrease of 0.78% [2] - The company has cumulatively distributed 17.986 billion yuan in dividends since its A-share listing, with 2.736 billion yuan distributed in the last three years [3] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 4.2136 million shares [3]

Core Viewpoint - Chengdu Xingrong Environment Co., Ltd. conducted an online investor relations activity to address concerns regarding accounts receivable, sewage treatment pricing mechanisms, market value management, and future capital expenditures and dividends [1][2]. Accounts Receivable - The company has seen an increase in accounts receivable due to market expansion and business growth. It actively manages collections, with a stable overall collection cycle expected in the second half of the year despite regional differences in fiscal payment capabilities. The company emphasizes accounts receivable management and strictly implements bad debt provisioning policies, allowing for the reversal of provisions if receivables are collected [2]. Sewage Treatment Pricing Mechanism - The sewage treatment business has a periodic pricing adjustment mechanism, with potential adjustments occurring annually. Significant cost changes due to adjustments in sewage discharge standards, service area expansions, or capacity upgrades can lead to temporary price adjustments. The average tentative price for sewage treatment services in Chengdu's central urban area for the fifth phase (2024-2026) is set at 2.63 yuan per ton [2]. Market Value Management - The company places a high priority on market value management, aiming to enhance intrinsic value through strategic development and operational efficiency improvements. It actively seeks market feedback and continuously refines its market value management mechanisms [2]. Future Capital Expenditures and Dividends - Recent capital expenditures have been substantial due to multiple water supply, drainage, and solid waste project constructions. However, most of these projects are expected to be operational within the next 1-2 years, leading to a gradual decrease in capital expenditures. The company is committed to shareholder returns and plans to increase dividend levels as cash flow becomes more abundant following the completion of ongoing projects [2].

证券代码：603903 证券简称：中持股份公告编号：2025-035 中持水务股份有限公司 关于为全资子公司提供融资担保的公告 （一）担保的基本情况 因经营发展的需要，中持水务股份有限公司（以下简称"公司"）全资子公司中持（江苏）环境建设有限 公司（以下简称"中持建设"）拟向兴业银行股份有限公司南京江宁支行申请授信3,000万元，公司为上 述融资提供连带责任担保，担保期限为该笔融资项下债务履行期限届满之日起三年。 （二）内部决策程序 为满足公司全资及控股子公司经营发展的融资需求，公司于2025年4月27日召开第四届董事会第三次会 议，会议审议通过了《关于2025年度为全资及控股子公司提供融资担保额度的议案》，并将该议案提交 公司股东大会审议；2025年5月19日，公司2024年度股东大会审议通过了该议案。该议案的主要内容 为：公司及合并范围内子公司2025年度拟为全资及控股子公司提供新增融资担保额250,000.00万元，公 司可根据实际经营情况在上述对全资及控股子公司的担保额度内，对不同的全资及控股子公司相互调剂 使用预计额度，亦可对新成立或收购的全资及控股子公司分配担保额度，在此额度范围内，授权公司董 事 ...

展会期间，金科环境与新加坡综合性浓盐水管理公司MediSun Energy签署了两项谅解备忘录。此次合作将有助于推广金科 环境的创新产品并实施其全球战略。根据备忘录，金科环境将把MediSun的技术引入中国市场，而MediSun则将在中东和非 洲地区推广"新水岛"产品。 此次合作将金科环境的"新水岛"产品与MediSun的技术相结合。"新水岛"是一款采用标准化设计、工厂化生产的智能装备化 水厂产品，通过"水萝卜AI智能体"进行运营和维护。它能为工业、园区和城镇提供高品质水，并具备苦咸水反渗透 （BWRO）和海水反渗透（SWRO）双重处理能力。通过整合两项技术，SWRO和BWRO系统能够实现能源回收和浓盐水 管理，从而提高水回收率并减少BWRO系统的浓盐水排放量。 "水萝卜AI智能体"集成了金科环境自主研发的多种模型，包括工艺优化预报、决策、计算机视觉、听觉和红外传感模型， 以及大型语言推理模型。这使其能够实现水厂的无人值守运营，确保其安全、稳定和高效。该系统已在中国无锡地区的5个 水厂项目中证明了其有效性，其中包括健鼎、安镇和龙亭的项目。在这些项目中，仅由一个10人团队便可完成运营管理工 作，与传统方法相比， ...

农田灌溉有序有效。大力推进"灌溉一张图"建设，加快构建"引黄+引河+井灌"灌溉供水保障格局。争取 新增2.78亿方引黄计划，争取水量全省第1。严格引调水秩序，按照"先远后近、先下游后上游" 的原 则，制定"错峰引水+区域轮灌"措施，提前将灌溉计划通报至乡镇、村居，整个春灌期间引水调水井然 有序。今年，全市545万亩冬小麦实现普浇一遍，各级平台受理灌溉问题同比下降90%以上。 城乡供水保障有力。攻坚城市供水水质提升三年行动，104个小区供水设施改造项目已开工，其中41个 小区已完工，改造小区管网50公里、市政管网11公里。积极推进已改造供水设施移交至供水企业管理， 推动供水企业直管到户，滨州市保障城市供水安全、老旧供水管网改造、加压设施专业化运维等3条经 验做法入选住建部可复制政策清单。积极推进农村供水县域统管改革，黄河以北五个县区农村供水全部 实现公司直管到户，打通农村供水服务"最后一米"。 9月10日，滨州市召开"抓改革创新 促高质量发展——亮进度"主题系列新闻发布会市城乡水务局专场。 围绕2025年城乡水务重点工作及现代水网、水资源节约集约利用等方面有关情况进行介绍，并回答记者 提问。 据市城乡水务局党组 ...

Investment Highlights - The report highlights significant acceleration in national subsidies recovery for the environmental sector in July-August 2025, with Everbright receiving 2.064 billion yuan, surpassing the 1.534 billion yuan received in the same period of 2024 [1][4] - The solid waste sector has shown improvements in return on equity (ROE) and cash flow, with a 1% increase in revenue and an 8% increase in net profit for the first half of 2025 [5][6] - The report recommends several companies for investment, including Hanlan Environment, Green Power, and Everbright Environment, among others [2] Solid Waste Sector Insights - The solid waste sector's performance in the first half of 2025 includes a 9% increase in operating cash flow, reaching 6.9 billion yuan, and a 24% increase in free cash flow compared to the first half of 2024 [5][6] - The average waste incineration companies saw a 1.8% increase in tonnage output and a 1.2% increase in grid-connected output in the first half of 2025 [5][6] - Companies are expanding their operations and improving efficiency, with notable increases in heating supply rates for several firms [5][6] Water Sector Analysis - The water sector is expected to experience a cash flow turnaround, with a projected increase in free cash flow for companies like Xingrong and Shouchuang starting in 2026 [6] - Price reforms in water services are anticipated to enhance growth and valuation, with recent price adjustments in cities like Guangzhou and Shenzhen [6] Sanitation Sector Developments - The penetration rate of electric sanitation vehicles is accelerating, with a 77.6% increase in sales of new energy sanitation vehicles in the first seven months of 2025 [7][8] - The report notes a significant rise in the number of automated sanitation projects, indicating a growing trend towards automation in the sector [7][8] Industry Tracking - The report tracks the performance of various sectors, including the increase in sales of sanitation vehicles and the profitability of biodiesel production, with a notable rise in the price of used cooking oil [8] - Lithium battery recycling is also highlighted, with improvements in profitability due to changes in pricing for lithium and cobalt [8]