Core Points - China Water Affairs (00855) announced the appointment of Xu Yan as a non-executive director, effective from October 2, 2025, following the resignation of Liu Yujie due to other business commitments [1] Summary by Category Company Changes - Liu Yujie will resign as a non-executive director due to other business commitments [1] - Xu Yan has been appointed as a non-executive director [1]

Core Viewpoint - The application of intelligent unmanned monitoring boats by Yangzhou Urban Control Group's pipeline company is a significant step towards the integrated management of water resources, networks, plants, and rivers, enhancing the intelligence and technological management of water facilities [1]. Group 1: Intelligent Monitoring Boat Features - The unmanned monitoring boat is equipped with high-precision sensors and data collection devices, enabling efficient and accurate water quality sampling and real-time monitoring, addressing the shortcomings of traditional manual sampling methods [2]. - The boat features AI intelligent recognition cameras and side-scan sonar for comprehensive scanning of riverbanks, generating high-resolution feedback images to identify hidden risks such as submerged pipes [3]. - It operates in both remote control and automatic cruising modes, allowing real-time task execution or pre-set inspection routes, significantly improving response speed and management accuracy in river inspections [4]. Group 2: Strategic Importance and Future Plans - The pilot application of unmanned boat technology is a crucial initiative for Yangzhou Urban Control Group's digital transformation, enhancing the precision and efficiency of underwater terrain mapping and hidden issue detection [5]. - The company aims to explore more innovative technologies to build a safe, efficient, and intelligent modern sewage facility management system, contributing to urban water environment governance [5].

Core Points - Company SanDa Membrane announced that its wholly-owned subsidiary, Baicheng SanDa Water Co., Ltd., has had part of its bank account funds frozen by the court, with a total frozen amount of 32.6345 million yuan [1] - The reason for the freeze is a construction contract dispute between Baicheng SanDa and Jilin Anji Construction Group Co., Ltd. [1] - The company has taken measures to actively respond to the situation and will continue to monitor the developments related to this matter [1]

Core Points - Haitian Co., Ltd. announced a plan to issue convertible bonds to unspecified investors, with a total fundraising amount not exceeding 801 million yuan [1] - The funds raised will be used for various projects, including water supply infrastructure upgrades and wastewater treatment plant expansions [1] - The convertible bonds will have a face value of 100 yuan each, a term of six years, and will be listed on the Shanghai Stock Exchange [2] Fundraising Details - The total amount to be raised from the issuance of convertible bonds is capped at 801 million yuan, after deducting issuance costs [1] - The specific projects funded include the improvement of water supply efficiency in Jianyang, resilience upgrades in Ziyang, and the expansion of a sewage treatment plant in Jiajiang [1] - The bonds will be issued at face value and will pay interest annually, with the principal repaid at maturity [2] Company Background - Haitian Co., Ltd. was listed on the Shanghai Stock Exchange on March 26, 2021, with an initial public offering that raised approximately 874 million yuan [3] - The company’s previous fundraising was allocated for wastewater treatment projects and working capital [3] - As of the 2025 semi-annual report, a significant portion of the company's shares (29%) has been pledged [4]

Summary of Key Points Group 1: Previous Fundraising and Usage - As of June 30, 2025, the remaining balance of funds from the Pujiang County sewage treatment plant and supporting pipeline construction project is 51.45 million yuan [1] - The remaining balance for the second phase of the Yaan Daxing sewage treatment plant project is 2.33 million yuan as of June 30, 2025 [1] - The remaining balance for the first phase of the Xiongbi Town sewage treatment plant and supporting pipeline project is 194,700 yuan as of June 30, 2025 [1] - The project for acquiring 70% equity of Sichuan Shangshi Ecological Environment Co., Ltd. has a remaining balance of 0 yuan as of June 30, 2025 [1] - The remaining balance for supplementing working capital is 197,800 yuan as of June 30, 2025 [1] Group 2: Use of Surplus Funds - The total planned investment for the Xiongbi Town sewage treatment plant and supporting pipeline project is 127.60 million yuan, with the project receiving special funds of 84.26 million yuan from the government [2] - The project has entered commercial operation since October 2020, and the remaining funds after project completion will be used to supplement working capital permanently [3] Group 3: Financial Management and Governance - The company has established a fundraising management system to ensure the legal and reasonable use of raised funds, complying with relevant laws and regulations [4] - The company has not faced any significant violations in the use of raised funds [4] - The company has a robust internal control system to enhance operational efficiency and protect investor rights [19][20]

Group 1 - The fifth session of the board of directors of Guangxi Greentown Water Group Co., Ltd. held its 27th meeting on September 28, 2025, via communication voting [2] - The meeting was convened by Chairman Huang Donghai, with all 9 directors participating in the voting, which complied with the Company Law and the company's articles of association [2] - The board approved the proposal to amend the internal control system regarding engineering projects, with a unanimous vote of 9 in favor [2][3] - The board also approved the proposal to amend the internal control system regarding procurement operations, again with a unanimous vote of 9 in favor [4][5] Group 2 - The meeting notification and materials were sent to all directors via email on September 23, 2025, with the voting deadline set for September 28, 2025, at 12:00 PM [2] - The results of the voting for both proposals showed no opposition or abstentions, indicating full support from the board [3][5]

Group 1 - Haitian Holdings (SH 603759) announced the convening of its 30th meeting of the fourth board of directors on September 29, 2025, to discuss the proposal for the sixth extraordinary general meeting of shareholders in 2025 [1] - For the year 2024, the revenue composition of Haitian Holdings is as follows: wastewater treatment business accounts for 60.79%, water supply business for 25.5%, engineering business for 8.04%, waste incineration power generation business for 4.16%, and other businesses for 1.22% [1] - As of the report date, Haitian Holdings has a market capitalization of 3.6 billion [1] Group 2 - The competition between Nongfu Spring and Yibao has intensified, with Nongfu Spring's green bottle launch leading to a significant decline in Yibao's market share by nearly 5 percentage points [1]

Core Viewpoint - The construction of a modern water network in Dongying City aims to enhance water disaster prevention, optimize water resource utilization, and protect the ecological environment, thereby supporting high-level modernization and sustainable development [1][3]. Summary by Sections Modern Water Network Construction - The modern water network integrates various functions such as water resource optimization, flood prevention, and ecological protection, with a focus on enhancing the city's resilience against water-related disasters [1][3]. Investment and Project Implementation - From 2022 to 2024, Dongying plans to implement 117 modern water network projects with a total investment of 108 billion yuan, including 33.81 billion yuan from higher-level funding [3][5]. Future Projections - By 2030, the city expects to increase water storage capacity by 1.12 billion cubic meters and improve flood control capabilities, with specific enhancements in drainage and ecological restoration [4][5]. Key Engineering Projects - The city will focus on six major categories of projects, including coastal flood prevention, urban drainage enhancement, water source security, and water quality improvement, with a total investment of 321.88 billion yuan [5][6]. Coastal Flood Prevention - A comprehensive coastal flood prevention system will be developed, including the construction of 106.69 kilometers of flood control dikes to withstand significant storm surges [6][7]. Urban Flood Control - The urban flood control strategy includes enhancing drainage capacity and implementing a series of projects to alleviate flooding in vulnerable areas [7][8]. Water Source Security - The city plans to restore and enhance water reservoirs, ensuring a reliable water supply for both urban and industrial needs, with a focus on integrating multiple water sources [8][9]. Water Quality Improvement - Initiatives will be taken to improve water quality through ecological restoration projects and wastewater treatment, aiming to enhance the overall health of local water bodies [9][10]. Water Conservation and Utilization - The city will implement water-saving measures and promote the use of unconventional water sources, including rainwater harvesting and seawater desalination [11]. Smart Water Management - The development of a smart water management system will be prioritized to improve operational efficiency and resource allocation in the water sector [11].

Group 1 - The company announced that it will hold the 30th meeting of the 4th Board of Directors on September 29, 2025, to review the proposal for issuing convertible bonds to unspecified objects [1] - The proposal and related documents for the issuance of convertible bonds by Haitan Water Group Co., Ltd. have been disclosed on the Shanghai Stock Exchange website on the same day [1]

Market Overview - The Shanghai Composite Index increased by 1.07% this week, while the Utilities Index rose by 0.28% and the Environmental Index increased by 1.06%, with relative weekly returns of -0.79% and -0.01% respectively [2][3] - Among the 31 primary industry sectors classified by Shenwan, the Utilities and Environmental sectors ranked 6th and 4th in terms of growth [2][3] Power Sector Performance - In the power sector, thermal power decreased by 0.82%, while hydropower and renewable energy generation increased by 0.82% and 1.09% respectively [2][3] - The water sector saw an increase of 2.74%, while the gas sector declined by 0.63% [2][3] Important Events - At the UN Climate Change Summit, national leaders announced China's new commitments to reduce greenhouse gas emissions by 7%-10% from peak levels by 2035 and to increase non-fossil energy consumption to over 30% of total energy consumption [3] - In August, China's total electricity consumption reached 10,154 billion kWh, a year-on-year increase of 5.0% [3] - Cumulative installed power generation capacity reached 3,690 million kW by the end of August, with solar power capacity growing by 48.5% year-on-year [3] Regional Market Insights - The Sichuan electricity spot market has begun trial settlements, experiencing instances of negative electricity prices due to an oversupply situation [4] - As of 2024, Sichuan's total installed capacity is projected to be 14,346 MW, with hydropower accounting for 71.2% [4] Investment Strategies - In the utilities sector, coal and electricity prices are expected to decline, maintaining reasonable profitability for thermal power companies [5] - Continued government support for renewable energy development is anticipated to stabilize profitability for renewable energy companies [5] - Recommendations include major thermal power companies, national renewable energy leaders, and stable nuclear power operators [5] Environmental Sector Insights - The water and waste incineration sectors are entering a mature phase, with significant improvements in free cash flow [5] - The domestic market for scientific instruments exceeds $9 billion, indicating substantial potential for domestic substitution [5] - The upcoming EU SAF blending policy is expected to increase demand for raw materials, benefiting the domestic waste oil recycling industry [5]