Core Viewpoint - The company announced its annual profit distribution plan for 2024, detailing the cash dividend per share and relevant dates for shareholders [1][2]. Distribution Plan - The cash dividend per share for A shares is set at RMB 0.131 [1][2]. - The total number of shares before the distribution is 4,800,000,000 [2]. - Key dates include: - Record date: May 29, 2025 - Last trading date: May 30, 2025 - Ex-dividend date: May 30, 2025 - Cash dividend payment date: May 30, 2025 [2]. Implementation Method - Cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the record date [2]. - Shareholders who have completed designated trading can receive cash dividends on the payment date, while those who have not will have their dividends held until they complete the necessary trading [2]. Taxation Information - For individual shareholders and securities investment funds, the company will not withhold personal income tax, resulting in a net cash dividend of RMB 0.131 per share [3]. - Tax implications based on holding periods are as follows: - Holding period within 1 month: 20% tax - Holding period between 1 month and 1 year: 10% tax - Holding period over 1 year: exempt from personal income tax [3]. - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, leading to a net cash dividend of RMB 0.1179 per share [4][5]. - Hong Kong investors will also face a 10% withholding tax, resulting in the same net cash dividend of RMB 0.1179 per share [5]. Contact Information - For inquiries regarding the equity distribution, shareholders can contact the company's board office at 023-63860827 [5].

Group 1 - The supervisory board of Bohai Water Industry Co., Ltd. held a meeting to discuss the extension of the commitment to avoid competition with the Tianjin Water Group, which is a significant shareholder of the company [1][2] - The proposal to extend the commitment was approved with a vote of 2 in favor, 0 against, and 0 abstentions, and it will be submitted to the shareholders' meeting for further approval [1][2] - The supervisory board believes that the extension of the commitment aligns with relevant regulations and will not significantly impact the company's daily operations or harm the interests of shareholders, particularly minority shareholders [2]

Core Viewpoint - Zhuhai Water Control Group's subsidiary, Zhuhai Water Technology, has successfully developed an IoT smart water meter that has passed national authority approval, achieving international advanced technical standards [1][5]. Group 1: Product Features and Performance - The LXSYW series IoT smart water meter can measure as little as 1 liter of water flow and utilizes a unique bubble intelligent filtering algorithm to ensure accurate data even in the presence of air bubbles [1]. - A pilot application of 111 smart water meters in a residential community showed a 100% data collection success rate, a reduction in leak response time from an average of 3 days to seconds, and a 40% decrease in pipeline leak rates [1][3]. - The smart water meter features a pluggable communication module that allows for quick replacement within 3 minutes, ensuring zero user disruption and service continuity [3]. Group 2: Technological Advancements - The smart water meter is equipped with an NB-IoT wireless transmission module, enabling remote real-time data collection and monitoring, which supports digital and refined management [3]. - The device employs an epoxy resin encapsulation process for its electronic module, enhancing its waterproof capabilities and reducing equipment failure rates in harsh environments [3]. Group 3: Strategic Implications - The successful development and application of the IoT smart water meter represent a significant step for Zhuhai Water Technology in the smart water management sector, contributing to the efficient management of water resources [5]. - The company aims to enhance water resource conservation, improve supply efficiency, and ensure water safety, thereby supporting high-quality urban development [5].

Group 1 - The core viewpoint of the news is that Beijing Enterprises Ecological Environmental Group Co., Ltd. has received a "AAA" rating for its 2025 public issuance of renewable corporate bonds, indicating strong creditworthiness and operational sustainability [1] - The company is recognized for its leading position in the water industry, complete industrial chain, strong market synergy, and growth in operating income and gross margin, which enhance its profitability and credit strength [1] - The company has a high level of interest-bearing debt and faces challenges such as long repayment cycles for comprehensive water governance projects and pressure on engineering business expansion [1] Group 2 - Beijing Enterprises Ecological Environmental Group was established in 1999 and listed on the Shanghai Stock Exchange in 2000, with a strategic focus on the water industry since a partnership with Veolia Environment in 2001 [2] - The company has expanded its business to include solid waste treatment and air pollution control, forming a comprehensive layout across water, solid waste, air, and energy sectors [2] - In 2024, the company achieved a total operating revenue of 20.05 billion yuan [2]

Investment Rating - The report maintains an "Outperform" rating for the public utilities and environmental sectors [4][18]. Core Views - The report highlights the introduction of detailed rules in Guangdong and Shandong provinces regarding the sustainable development pricing settlement mechanism for new energy projects, marking a significant step towards market-driven reforms in the new energy sector [2][15]. - It emphasizes that coal and electricity prices are declining simultaneously, which is expected to maintain reasonable profitability for thermal power companies [18]. - The report suggests that the continuous support from national policies for new energy development will lead to gradually stable profitability for new energy generation [18]. - It notes that the growth in installed capacity and generation will help offset the downward pressure on electricity prices, predicting stable profitability for nuclear power companies [18]. Summary by Sections Market Review - The Shanghai Composite Index rose by 1.12%, while the public utilities index increased by 0.08%. The environmental index remained unchanged, with relative weekly returns of -1.04% and -1.12% respectively [1][21]. - Among the sub-sectors, thermal power decreased by 0.89%, hydropower increased by 0.87%, and new energy generation rose by 0.08% [1][21]. Important Policies and Events - Guangdong's electricity trading center issued draft rules for the sustainable development pricing settlement mechanism for new energy projects, with the first competitive trading scheduled for mid-2025 [2][14]. - The rules stipulate that projects must be approved and operational by December 31, 2025, to participate in the first auction [2][14]. Investment Strategy - Recommendations include major thermal power companies like Huadian International and Shanghai Electric, as well as leading new energy firms such as Longyuan Power and Three Gorges Energy [18]. - The report also suggests investing in nuclear power operators like China Nuclear Power and China General Nuclear Power, and highlights the defensive attributes of hydropower stocks amid a global interest rate decline [18][19]. Key Company Earnings Forecasts and Investment Ratings - The report provides a detailed table of investment ratings for various companies, all rated as "Outperform," including Huadian International, Longyuan Power, and China Nuclear Power, with projected earnings per share (EPS) growth for 2024 and 2025 [7][18].

Group 1 - The 34th "National Urban Water Conservation Publicity Week" will take place from May 11 to May 17, 2025, in Dalian, focusing on the theme of "Implementing Urban Renewal Actions and Promoting Urban Water Conservation" [1] - A series of water conservation publicity activities will be conducted across various sectors, including public institutions, enterprises, and communities, to enhance public awareness of water-saving culture [1] - Activities include the distribution of promotional materials, community engagement through volunteer services, and the integration of water-saving messages into daily life [1] Group 2 - An innovative model of government-enterprise collaboration has been established, with party organizations in Dalian's water sector working with water-saving practice units to conduct water balance tests and provide guidance [2] - The involvement of new media platforms has revitalized water conservation publicity, with initiatives like the "I Endorse My Hometown - National Water Conservation Relay" generating significant online engagement [2] - The activities during the publicity week combine promotion and practice, reflecting the essence of urban renewal and exploring innovative approaches to ecological civilization construction [2]

Group 1 - The annual general meeting of Shanghai Weipai Ge Smart Water Co., Ltd. was held on May 16, 2025, with all board members present [2][3] - The meeting approved several key proposals, including the 2024 annual financial settlement report and the profit distribution plan for 2024 [4][5] - The meeting was legally compliant, as confirmed by the witnessing lawyers from Beijing Zhonglun (Shanghai) Law Firm [5] Group 2 - The company has a total of 9 directors and 3 supervisors, all of whom attended the meeting [2][3] - The proposals related to the appointment of the accounting firm for 2025 and the remuneration plans for directors and supervisors were also approved [4][5] - There were no rejected proposals during the meeting, indicating unanimous support for the discussed items [4]

Core Viewpoint - The article emphasizes the significant advancements in urban water conservation through technology, institutional support, and innovative reforms, highlighting successful case studies and future goals for water resource management in China [1][3][4]. Group 1: Technological Innovations - The water resource regeneration plant in Ordos City has achieved a 95% recycling rate of photovoltaic wastewater through advanced treatment processes [1]. - A laboratory in Shanghai has successfully reduced water supply network leakage from 27% to 3.61% through technological breakthroughs in urban water conservation [2]. Group 2: Institutional Support - The establishment of water-saving regulations in cities like Jinan has provided a framework for sustainable groundwater management and conservation efforts [3]. - Various regions are enhancing their water-saving institutional frameworks, including the implementation of a comprehensive policy system for urban water conservation [4]. Group 3: Market Mechanisms - The signing of a water rights trading agreement in Yunnan, involving a transaction of 25 million cubic meters, illustrates the growing trend of water rights trading as a means to optimize water resource allocation [5]. - In 2024, the national water rights trading volume reached 1.37 billion cubic meters, marking a 154.7% increase year-on-year, showcasing the effectiveness of market-driven water conservation strategies [6]. Group 4: Future Goals - The Ministry of Water Resources aims to exceed 23 billion cubic meters of unconventional water utilization by 2025, indicating a strong commitment to enhancing water resource management [2]. - By 2035, China plans to establish a water-saving institutional policy system that aligns with the goals of achieving socialist modernization [4].

北京市中伦（上海）律师事务所 关于上海威派格智慧水务股份有限公司 法律意见书 二〇二五年五月 法律意见书 北京市中伦（上海）律师事务所 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以 下简称"《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下 简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业规则（试 行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政法规、规章、 规范性文件及《上海威派格智慧水务股份有限公司章程》（以下简称"《公司章 程》"）的规定，就本次会议的召集、召开程序、召集人资格、出席会议人员资 格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 资格、会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案 -1- 关于上海威派格智慧水务股份有限公司 法律意见书 致：上海威派格智慧水务股份有限公司（以下简称"公司"） 北京市中伦（上海）律师事务所（以下简称"本所"）接受公司的委托，指派 律师出席并见证公司2 ...

Core Viewpoint - The article discusses the high-quality development strategies and market positioning of Beijing Enterprises Ecological Environmental Group Co., Ltd. (首创环保), emphasizing its commitment to investor education and value management in the water industry [1][2]. Group 1: Company Development Strategies - The company has established three development strategies: customer deepening, value diversification, and a three-dimensional driving approach [2]. - As of now, the company operates over 700 projects in water, solid waste, and air comprehensive governance across 29 provinces and more than 170 cities, which serve as anchors for market expansion [2]. - The three-dimensional driving strategy includes integration of technology and operations, excellence in operations, and financial asset management [2]. Group 2: Financial Performance - In 2024, the company's net profit attributable to shareholders reached 3.528 billion yuan, representing a year-on-year increase of 119.14% [3]. - The net cash flow from operating activities was 4.083 billion yuan, up 19.30% year-on-year [3]. - The company plans to distribute a cash dividend of 1.7 yuan per share (before tax), totaling 1.248 billion yuan, which accounts for 35.37% of the net profit attributable to shareholders [3]. Group 3: Market Positioning and Innovation - The company is transitioning from a phase of large-scale investment to a stable operational phase, focusing on enhancing profitability in the current "stock operation" era [3]. - In response to the rise of AI across various industries, the company has launched the "2025 AI+ Action Plan," marking a strategic shift from digitalization to intelligence [4]. - The AI strategy is structured around a "1-3-3" framework, focusing on systematic, resource-oriented, digital, and intensive approaches, collaborating with leading model providers to develop an AI platform centered on core business [4].