Group 1 - The company, Dayu Water-saving, announced that it will participate in the auction for a 70% stake in Huai'an Design Institute, which is currently held by Beikong Water Development Co., Ltd. [1] - The auction is set to take place on June 5, 2025, and the final bidding price will be determined at that time [1] - Huai'an Design Institute reported a revenue of 992 million yuan and a net profit of 65.0456 million yuan for the year 2024 [1] Group 2 - If successful in the auction, Dayu Water-saving will become the controlling shareholder of Huai'an Design Institute [1] - This acquisition aims to enhance the company's core capabilities in water conservancy design, improve profit quality, and optimize revenue structure [1]

Core Viewpoint - The company, Shen Shui Gui Yuan (301038.SZ), reported a decline in revenue and net profit for Q1 2025, indicating financial challenges compared to the same period last year [1][3]. Financial Performance - The total operating revenue for Q1 2025 was 96.52 million yuan, ranking 25th among disclosed peers, a decrease of 12.42 million yuan or 11.40% year-on-year [1]. - The net profit attributable to shareholders was -29.46 million yuan, ranking 45th among peers, a decline of 16.38 million yuan compared to the same period last year [1]. - The net cash flow from operating activities was -109 million yuan, ranking 30th among peers, a decrease of 87.55 million yuan year-on-year [1]. Financial Ratios - The latest debt-to-asset ratio is 52.58%, ranking 31st among peers, a decrease of 1.97 percentage points from the previous quarter and 0.40 percentage points from the same period last year [3]. - The latest gross profit margin is -1.45%, ranking 42nd among peers, a decrease of 29.65 percentage points from the previous quarter, but an increase of 0.80 percentage points year-on-year [3]. - The latest return on equity (ROE) is -3.41%, ranking 44th among peers, a decrease of 1.83 percentage points from the same period last year [3]. Earnings Per Share - The diluted earnings per share is -0.17 yuan, ranking 45th among peers, a decrease of 0.10 yuan compared to the same period last year [3]. Asset Efficiency - The latest total asset turnover ratio is 0.05 times, ranking 31st among peers, a decrease of 0.01 times year-on-year, representing a decline of 15.73% [3]. Shareholder Structure - The number of shareholders is 12,900, with the top ten shareholders holding 129 million shares, accounting for 75.44% of the total share capital [3]. - The largest shareholder is Shenzhen Investment Holdings Co., Ltd., holding 37.50% of the shares [3].