Group 1 - The third meeting of the supervisory board of Deepwater Haina Water Group Co., Ltd. was held on August 28, 2025, with all three supervisory members present, confirming the legality and validity of the meeting [1] - The supervisory board approved the 2025 semi-annual report, stating that it complies with legal and regulatory requirements, and accurately reflects the company's operational and financial status for the first half of 2025 [1] - The voting results for the approval of the semi-annual report were unanimous, with 3 votes in favor, 0 abstentions, and 0 votes against [1] Group 2 - The supervisory board proposed the cancellation of the supervisory board, transferring its powers to the audit committee of the board of directors, which aligns with the latest legal requirements and aims to improve corporate governance [2] - The proposal to abolish the supervisory board and amend the company’s articles of association received unanimous approval, with 3 votes in favor, 0 abstentions, and 0 votes against [2] - This proposal is subject to approval at the shareholders' meeting [2]

Core Viewpoint - Wuhan Sanzhen Industry Holding Co., Ltd. reported a significant increase in revenue and profit for the first half of 2025, driven by growth in its core businesses of wastewater treatment, water engineering construction, and water supply [2][4][12]. Financial Performance - The company achieved operating revenue of CNY 2,075,823,941.91, a 14.76% increase compared to the same period last year [2]. - Total profit reached CNY 101,461,494.22, reflecting a 15.54% increase year-on-year [2]. - Net profit attributable to shareholders was CNY 88,768,997.33, up 9.22% from the previous year [2]. - The net cash flow from operating activities improved to -CNY 95,217,515.04, an increase from -CNY 179,002,552.96 in the previous year [3]. Business Overview - The company operates in the wastewater treatment, water engineering construction, water supply, and tunnel operation sectors [4][12]. - It holds a 30-year concession for wastewater treatment services in Wuhan's main urban area, with a total design capacity of 3.21 million tons per day across nine treatment plants [4][5]. - The company has expanded its wastewater treatment projects through various models, including BOT and PPP, enhancing its market presence [5][6][8]. Industry Context - The wastewater treatment industry is experiencing growth due to increasing environmental regulations and government support for ecological protection [3][4]. - Policies such as the "Beautiful China" initiative and the "Water Pollution Prevention Action Plan" are driving demand for wastewater treatment and infrastructure improvements [3][4]. - The water engineering construction sector is also expected to grow, with government plans to enhance urban infrastructure and increase wastewater treatment capacity [4][12]. Competitive Advantages - The company benefits from exclusive rights to provide wastewater services in its designated area, ensuring a stable revenue stream [12][13]. - It has established a strong reputation in the water services market, supported by a comprehensive quality control system and innovative technology integration [13][14]. - The company maintains a good credit rating of AA+, indicating strong financial health and low default risk, which supports future financing activities [14].

Core Viewpoint - The company has announced the completion of several fundraising projects and plans to allocate the remaining funds to other ongoing projects, enhancing the efficiency of fund utilization and supporting the company's operational needs [1][2][11]. Fundraising and Project Overview - The total amount raised through a targeted issuance of A-shares was approximately RMB 573.18 million, with net proceeds after expenses amounting to RMB 572.37 million [2][3]. - The projects that have been completed include: - "Hucun Water Plant Project (Phase I)" - "Lanxi City Dengsheng Water Plant Project" - "Fuzhou Jiangyin Port City Economic Zone Sewage Treatment Plant Mid-term Project (Phase I)" - "Changshan Overseas Chinese Town Sewage Treatment Plant Expansion and Upgrade Project" [1][2][4]. Remaining Fund Allocation - The remaining funds amount to RMB 106.86 million, which will be redirected to the following projects: - "Yongkang City Sewage Treatment Plant (Phase V)" - "Pinghu City Dushan Port Industrial Water Plant Phase III" [1][5][9]. Fund Utilization Efficiency - The decision to reallocate the remaining funds is based on the actual construction status of the projects, aiming to avoid idle funds and improve the efficiency of fund usage, which is expected to enhance the company's economic benefits [4][11]. Approval Process - The board of directors has approved the reallocation of funds, and the sponsor, CITIC Securities, has provided a clear consent opinion, confirming that the necessary approval procedures have been followed [2][11].

Fundraising Overview - The company raised a total of RMB 581,020,898.64 through a specific stock issuance at a price of RMB 8.72 per share, with a net amount of RMB 572,370,632.48 after deducting issuance costs of RMB 8,650,266.16 [1][2] - The funds were fully deposited into the company's account by December 2, 2024, and verified by Tianjian Accounting Firm on December 3, 2024 [2] Fund Management - The company has established a special account for the management of the raised funds at China Merchants Bank, ensuring compliance with regulations and protecting investors' rights [3] - A tripartite supervision agreement was signed with the underwriter and the bank to regulate the storage of the raised funds [3] Fund Utilization - As of June 30, 2025, the total amount used from the raised funds was RMB 350,216,297.34, with RMB 110,000,000.00 allocated for cash management [2][4] - The company has generated interest income of RMB 720,621.05 and investment income from financial products of RMB 1,199,884.92, resulting in a remaining balance of RMB 114,074,841.11 in the special account [2][4] Project Investment and Replacement - The company approved the use of raised funds to replace self-raised funds previously invested in projects, totaling RMB 312,306,495.90 [5] - The company has completed the replacement of pre-invested funds for various projects, ensuring compliance with regulatory requirements [5][6] Cash Management - The company has been authorized to use up to RMB 300 million of temporarily idle raised funds for cash management, ensuring that this does not affect the normal use of the funds for project construction [5][7] - The company has engaged in structured deposits with China Merchants Bank, generating returns from these investments [7] Project Completion and Surplus Funds - Several projects have been completed and reached a usable state, resulting in surplus funds of RMB 10,685.60 million, which will be redirected to other ongoing projects [8] - The company has adhered to regulations regarding the use of raised funds, ensuring transparency and compliance in its disclosures [8]

Core Points - The company is Qianjiang Water Resources Development Co., Ltd., established in accordance with the Company Law and other relevant regulations [1][2] - The registered capital of the company is RMB 560,824,898 [2] - The company was approved for its initial public offering of 85 million shares in 2000 and is listed on the Shanghai Stock Exchange [1][3] Company Structure - The company is a permanent joint-stock company with a legal representative who is the chairman [2][3] - Shareholders are liable for the company's debts only to the extent of their subscribed shares, while the company is liable for its debts with all its assets [2][3] Business Objectives and Scope - The company's business objective is to maximize profits while ensuring the legal rights of all shareholders and stakeholders [3][4] - The business scope includes hydropower generation, water supply, environmental protection services, and various engineering and consulting services [4] Share Issuance and Management - The company issues shares in the form of stocks, adhering to principles of openness, fairness, and justice [5][6] - The total number of shares issued by the company is 560,824,898, all of which are ordinary shares [7][8] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, voting, and participation in company decisions, as well as obligations to comply with laws and the company’s articles of association [12][39] - The company has provisions for shareholders to propose and vote on resolutions during shareholder meetings [57][58] Governance and Meetings - The company holds annual and extraordinary shareholder meetings, with specific procedures for calling and conducting these meetings [47][49] - The board of directors is responsible for managing the company and reporting to shareholders [73][74]

Group 1 - The core viewpoint of the article is that Taizhou Water (01542.HK) reported a decline in revenue and incurred losses in its interim results for the six months ending June 30, 2025 [1] - The company's revenue for the period was approximately RMB 274.9 million, representing a decrease of about 8.5% compared to the same period last year [1] - The loss attributable to the owners of the parent company was approximately RMB 19.9 million, an improvement from a loss of approximately RMB 36.3 million for the six months ending June 30, 2024 [1] - The basic loss per share was approximately RMB 0.10, and the board of directors did not recommend the distribution of an interim dividend for the period [1]

Group 1 - The company held its 12th meeting of the 9th Board of Directors on August 27, 2024, with all 7 directors present, ensuring compliance with relevant laws and regulations [1][2] - The Board approved the 2025 Semi-Annual Report and its summary, which will be disclosed on August 29, 2025, in major financial publications and the Shanghai Stock Exchange website [2] - The Board also approved the Special Report on the Storage and Use of Raised Funds for the first half of 2025, confirming that the funds were stored and used in accordance with regulations [2][3]

Group 1 - The company held its ninth supervisory board meeting on August 27, 2025, with all three supervisors present, and the meeting was conducted in accordance with relevant laws and regulations [1][2]. - The meeting approved the "2025 Semi-Annual Report" and its summary, which was prepared following various regulatory guidelines [1][2]. - The voting results for the approved resolutions were unanimous, with 3 votes in favor and no votes against or abstentions [2]. Group 2 - The company also approved the "2025 Semi-Annual Special Report on the Storage and Use of Raised Funds," which was compiled after a comprehensive review of the actual use of raised funds [2]. - The special report will be disclosed on August 29, 2025, in major financial publications and on the Shanghai Stock Exchange website [2].

Meeting Overview - The second session of the Supervisory Board of Jiangsu United Water Technology Co., Ltd. was held on August 28, 2025, with all three supervisors present [1][2] - The meeting was convened in accordance with relevant laws, regulations, and the company's internal management rules [1] Supervisory Board Resolutions - The Supervisory Board approved the proposal regarding the company's 2025 semi-annual report and its summary [1] - The report's preparation and review process complied with legal and regulatory requirements, as well as the company's internal management system [2] - The content and format of the semi-annual report met the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange, accurately reflecting the company's operational management and financial matters [2] - No violations of confidentiality were found among those involved in the report's preparation and review [2] - The Supervisory Board guarantees the truthfulness, accuracy, and completeness of the disclosed information in the semi-annual report, assuming individual and joint responsibility for its content [2]

Group 1 - The core viewpoint of the article is that Taizhou Water (01542) reported a decrease in revenue for the first half of 2025, amounting to approximately 275 million yuan, which is a decline of about 8.5% compared to the same period last year [1] - The loss attributable to the parent company owners was approximately 19.875 million yuan, which represents a year-on-year reduction of 45.21% [1] - The reduction in losses is primarily attributed to financial subsidies received from the Yuhuan government during the reporting period [1]