April 2025 2025 FIRST QUARTER RESULTS REVIEW 2025 First Quarter Results Review ~ Stock Code: 0270 F I N A N C I A L H I G H L I G H T S 1 The unaudited consolidated profit attributable to owners of the Company from continuing operations for 1Q25 increased by 1.9% to HK$1,322 million On 21 January 2025, 99.9% of GD Land shares held by the Company was distributed to the shareholders. The unaudited consolidated loss attributable to owners of the Company from GD Land (discontinued operations) up to 21 January 2 ...

Core Viewpoint - The Market Regulation Administration is promoting antitrust compliance in the water supply industry to enhance awareness and ensure healthy industry development [1] Group 1: Antitrust Compliance - The antitrust compliance seminar aims to educate water supply operators about the antitrust legal framework and its importance [1] - The seminar includes a comprehensive review of antitrust cases in the water supply sector and analyzes common monopolistic issues [1] - The administration encourages operators to proactively identify and assess potential antitrust risks to foster a fair market environment [1] Group 2: Industry Impact - The water supply service is directly linked to public welfare, making compliance with antitrust laws crucial for protecting consumer rights [1] - The Market Regulation Administration emphasizes the need for operators to prevent the extension of monopolistic advantages into competitive sectors [1] - The initiative aims to create a more vibrant and equitable market landscape within the water supply industry [1]

Core Viewpoint - The construction project in Chengmai County has been recognized for its quality and safety, highlighting the importance of urban-rural integration in Hainan Province's development strategy [1][3]. Group 1: Project Overview - The project, located in Chengmai County, covers an area of 4,031.77 square meters and includes various facilities such as pipelines and water plants, making it a key livelihood project for the county [3]. - The project team has adhered to the principles of "safety first, prevention as the main focus, and comprehensive management," aligning with Hainan Province's "Quality Strong Province" strategy [3]. Group 2: Impact and Recognition - The completion of the project is expected to enhance the urban-rural water supply capacity in the southern area, optimize water resource allocation, and improve the quality of residents' drinking water [4]. - The project has contributed to the recognition of China Communications Construction Company Tianjin Navigation Bureau in the Hainan market, marking a significant milestone in their operations [4]. - The company has received multiple honors for its contributions to fixed asset investment and economic growth in Chengmai County, establishing a positive cycle of quality branding and safety-driven development [4].

Core Viewpoint - The implementation of the water resource tax reform has led to a significant increase in tax revenue, compelling market participants to conserve water while reducing the tax burden on urban public water supply enterprises [1][2][3]. Summary by Sections Tax Revenue Growth - Since the nationwide promotion of the water resource tax reform at the end of last year, there has been a notable increase in water resource tax revenue. In the first quarter of 2025, the total revenue reached 10.4 billion yuan, with 4.35 billion yuan coming from 21 newly piloted provinces, marking a 16.4% increase compared to the average quarterly revenue from the water resource fee in 2024 [2][3]. Taxpayer Participation - The number of taxpayers in the newly piloted regions has risen to 87,000, an increase of 13,000 or 18% compared to the previous year [2]. Resource Tax Composition - Water resource tax accounted for approximately 14% of the total resource tax revenue of 72.4 billion yuan in the first quarter of this year [3]. Conservation Measures - The reform emphasizes the principles of "paying for resource use" and "polluters pay." It includes higher tax rates for regions facing severe water shortages and for industries with high water consumption, such as golf courses and car washes, with some tax rates increasing by over 15 times compared to before the reform [3][4]. Water Usage Reduction - In the first quarter of 2025, the water usage in key regulated sectors, including groundwater and special industries, decreased by 15.4% and 41.5%, respectively, compared to the average in the previous year [3]. Impact on Urban Public Water Supply - The tax reform has not increased the water burden on residents. Urban public water supply enterprises, which are essential for public welfare, saw an 8.7% reduction in tax burden compared to the previous year [4]. Future Collaboration - The tax authority plans to enhance collaboration with the finance and water resources departments to improve taxpayer convenience and ensure the effective implementation of the reform, promoting the sustainable and efficient use of water resources [5].

Group 1 - The core focus of the article is on the efforts of the market regulatory authority to address corruption and improper practices in public utilities, specifically in the areas of water, electricity, and gas pricing [1] - The regulatory team conducted on-site inspections in Yinchuan and Wuzhong cities, examining the pricing and charging practices of public utility companies and the calibration of household utility meters [1] - The emphasis is placed on strengthening the supervision and management of household utility meter calibration, ensuring compliance with national pricing policies, and enforcing penalties for violations such as measurement fraud and non-compliance with government pricing [1]

Core Points - The Jinan Eastern Water Source Four Reservoirs Interconnection Project has commenced its third water transfer operation, ensuring a stable water supply for the eastern urban area of Jinan [2][6] - The project aims to optimize water resource allocation in Jinan, a city facing severe water scarcity, with per capita water resources only one-seventh of the national average [2][8] - The interconnection involves the East Lake Reservoir, Baiyun Reservoir, Duzhang Reservoir, and Langmaoshan Reservoir, providing reliable water sources for residential and industrial needs in the eastern region [3][4] Water Transfer Operations - The third water transfer operation started on May 20, with 400,000 cubic meters of Yangtze River water being transported daily over 38.3 kilometers and lifted 186 meters to reach Langmaoshan Reservoir [2][6] - The project is expected to complete approximately 4 million cubic meters of water transfer within 10 days [2][6] - The Baiyun Reservoir, with a total water storage capacity of 59.76 million cubic meters, is set to begin operations in Q1 2024, allowing for the annual diversion of 56.62 million cubic meters of Yellow River water [3][4] Ecological and Supply Benefits - The interconnection project has significantly improved the water supply situation at Langmaoshan Reservoir, which previously relied heavily on rainfall [6][7] - Currently, the water storage at Langmaoshan Reservoir has reached 3.52 million cubic meters, a 2.9-fold increase compared to the same period last year [7] - The project also supports ecological replenishment for seven rivers, contributing to a healthier water ecosystem in Jinan [4] Long-term Water Resource Strategy - Jinan has been developing a modern water network for over a decade, with various projects aimed at integrating water resources from the Yellow River, Yangtze River, and local surface water [8][9] - Future projects include the construction of Taiping Reservoir and Matoushan Reservoir, as well as the expansion of irrigation systems, to further enhance water supply capabilities [9] - By 2025, Jinan aims to improve its modern water supply network and increase water storage capacity by 250 million cubic meters [9]

Core Insights - The meeting focused on enhancing water conservation awareness and promoting efficient water resource utilization among enterprises in Chengdu's Shuangliu District [1][2] - The Mijiang Water Plant has implemented a series of "zero" measures to streamline water service processes, significantly improving efficiency and reducing burdens on enterprises [2] Group 1: Meeting Highlights - The Shuangliu District Water Authority discussed regulations related to water resource management, emphasizing corporate water-saving responsibilities and incentive policies [1] - Representatives from various enterprises provided feedback on their water usage challenges and praised the improved business environment for water access [1] - The meeting underscored the importance of integrating water-saving concepts into daily operations and enhancing water recycling systems [1] Group 2: Mijiang Water Plant Initiatives - The Mijiang Water Plant introduced the "Five Zero" initiatives to simplify water service processes, including zero materials for applications and zero fees for small installations [2] - Future plans include establishing a long-term water-saving mechanism and enhancing the efficiency of water supply systems [2] - The water plant aims to address enterprise needs through a dedicated service line and a commitment to resolving issues promptly [2]

Core Viewpoint - The article emphasizes the importance of accurate measurement in public utilities, specifically focusing on the regulation and management of water, electricity, and gas meters to protect consumer rights and ensure fair pricing [1][2]. Group 1: Regulatory Measures - The Emen County Market Supervision Administration has issued warning letters to relevant enterprises and utility providers, mandating compliance with measurement laws to ensure accurate readings and standardized charges for public utility meters [1]. - A public announcement has been made to collect information on inaccurate measurements and irregular charges, encouraging community involvement in monitoring the measurement practices [1]. Group 2: Supervision and Inspection - The article highlights the critical role of public utility meters in trade settlements, affecting numerous households, and stresses the need for strict supervision and random inspections to ensure compliance with national standards [1]. - The administration is focusing on the mandatory inspection and replacement of utility meters as per national regulations, ensuring that all measuring instruments meet the required standards [1]. Group 3: Service Optimization - To enhance the accuracy of water meter measurements, the county has initiated a replacement program for outdated meters, with a focus on efficient service delivery to support the installation process [1]. - The administration has adjusted its operational model to provide continuous inspection services, completing over 2,000 water meter inspections to facilitate timely replacements and installations [1]. Group 4: Future Work Focus - The Emen County Market Supervision Administration plans to continue strengthening the regulation of public utility meters, increasing enforcement efforts against measurement fraud and irregular charges to ensure fairness in public utility measurements [2]. - There will be further optimization of the inspection service processes to improve efficiency and protect consumer rights, fostering a trustworthy and equitable measurement environment [2].

Core Viewpoint - The article discusses Jiangsu's innovative approaches to water conservation amidst its inherent water resource scarcity, focusing on technological and institutional advancements to enhance water efficiency and sustainability [1]. Group 1: Water Supply Network Management - Jiangsu is implementing strict measures to control water supply network leakage, with over 8,000 kilometers of pipeline upgrades completed since the 14th Five-Year Plan [2]. - The goal is to reduce the urban public water supply network leakage rate to below 7.5% by 2024 [2]. - The city of Suqian has developed a smart water management platform that utilizes IoT devices for real-time monitoring, significantly improving leak detection and repair times, reducing average response time from 9 hours to 6 hours [2][3]. Group 2: Sponge City Construction - The construction of sponge cities is a key strategy for improving rainwater collection and utilization, with 1,963.99 square kilometers of sponge city area established, accounting for 35.48% of Jiangsu's urban built-up area by the end of 2024 [4]. - The sponge city initiative aims to enhance urban infrastructure and promote efficient water resource use, with projects including rainwater collection facilities in new commercial and residential buildings [4][5]. - The implementation of sponge city concepts is expected to alleviate urban flooding and improve water quality in rivers and lakes [5]. Group 3: Wastewater Reuse - The city of Jurong has successfully integrated wastewater reuse with river water quality improvement, injecting 25,000 tons of treated water daily into the Yuqing River, enhancing its ecological health [6]. - The province is promoting the use of reclaimed water from sewage treatment plants, with a projected urban reclaimed water utilization rate of approximately 29% by 2024 [7]. - Efforts are being made to prioritize the use of reclaimed water for landscaping and road maintenance, reducing reliance on potable water [7].

中国发展网讯 2024年以来，广元市坚持以习近平新时代中国特色社会主义思想为指导，深入贯彻落实 省委、省政府《关于以控制成本为核心优化营商环境的意见》和市委八届十次全会精神，聚焦经营主体 关切，立足区域产业发展，努力推动降本增效。在政务服务、法治环境、科技创新和要素保障等方面开 拓创新、攻坚克难，形成了一批好案例、好做法。 十佳创新案例 以新突破构建矛盾纠纷化解新路径，以新机制做强政务服务增值化改革生态，以新手段打造灵活就业新 模式，以新路径破解跨区域人力资源流动壁垒，以新平台升级土地矿权交易数字化能力，以新场景打通 购房登记"一件事"改革闭环...... 一系列首创性、集成式改革突破，为广元市优化营商环境注入了强劲动能。 《市法院"无鉴"工作法推动矛盾纠纷实质性化解》 选送单位：市法院 《聚力政务服务增值化改革赋能产业高质量发展》 选送单位：市政务服务和数据局 《剑阁县帮帮摊项目"一摊养一家，摊出新未来"》 选送单位：剑阁县 《苍溪县跨县共建"用工基地""共享用工"全力盘活人力资源》 选送单位：苍溪县 《打造供水服务新体系推动供水营商环境大提升》 选送单位：市供排水集团公司 《利州税务筑起"云上枫桥"助推营 ...