Core Viewpoint - The Guangzhou Water Investment Water Supply Company is providing comprehensive water supply support for the 12th National Disabled Games and the 9th Special Olympics, ensuring safety, stability, and human-centered service for participants and staff. Group 1: Water Supply Assurance - The company has developed a tailored water supply assurance plan that integrates water source security, pipeline operation, water quality control, emergency response, and human service [1] - A special command center has been established to coordinate water supply efforts, with real-time adjustments based on peak water demand during the events [1] - The company has deployed nine emergency repair teams on-site to ensure rapid response and effective on-the-spot handling of any issues [1] Group 2: Infrastructure Inspection - The company has initiated a comprehensive inspection mode, utilizing drones and ground personnel to check for potential risks in water supply facilities [2] - Over 730 kilometers of water pipelines have been inspected, along with more than 4,800 manholes and 1,800 fire hydrants, to ensure the integrity of the water supply system [2] Group 3: Water Quality Management - Enhanced water quality control standards have been implemented, focusing on the detection of heavy metals and microorganisms [2] - Thirteen online water quality monitoring devices have been installed at nine competition venues and four hotels, providing 24-hour monitoring and automatic alerts for any anomalies [2] Group 4: Emergency Preparedness - An emergency response drill was conducted to test the effectiveness of water supply vehicles in case of pressure anomalies due to pipeline failures [3] - Specialized emergency water supply vehicles are stationed near the Tianhe Sports Center, equipped with quick refill interfaces and intelligent monitoring systems [3] Group 5: Community Service - The company has expanded its "Star Water Steward" service across central Guangzhou, providing personalized water supply services to residents and businesses near the event venues [3] - Efficient communication channels have been established with over 400 community committees to prioritize responses to water-related inquiries during the events [4] Group 6: Commitment to Service - The company is committed to high standards and rigorous requirements for water supply during the events, reflecting its responsibility and dedication as a state-owned enterprise [5]

南方财经记者吴蕴 通讯员钟荧冬 冯琬雯 广州报道 保障推进中，他还琢磨出"片区管理责任制"：把东区负责的场馆和周边划成一个个责任区，任务落实到 每个人，形成"有人管、有记录、有整改"的闭环。从定预警方案、调值守力量，到查设施、对接需求， 他始终守在统筹最前面，用清晰的思路、高效的调度，稳稳托住全运会供水保障的基础。 全运会保障期间，考验突然而至。8月2日，广州水投自来水公司接到天河区住建局通知：一周内必须完 成奥体中心贵宾通道临时供水管道迁改。这事儿难在哪？时间紧，只有七天；协调难，要对接6个部 门；风险高，现场管线密密麻麻，碰错一根就可能影响周边供水。 （原标题：马志焜：坚守供水一线 护航双赛无忧） 十五运会圆满落幕，羊城的体育激情尚未褪去，残特奥会的脚步已悄然临近。赛场内外的每一处顺畅运 转，都离不开一条看不见的"生命线"——稳定供水。 在这场关乎城市形象的赛事保障硬仗中，广州水投自来水公司东区供水分公司副经理马志焜就像一 名"供水哨兵"，以"安全供水、万无一失"为目标，把奥林匹克体育中心场馆及周边的供水保障工作抓细 抓实，用脚步丈量责任，用专业书写国企干部的使命答卷，让保障工作在赛事衔接中无缝延续。 2 ...

新疆气象台副首席预报员王江介绍，10日白天至11日白天，新疆北部大部等地先后有6级左右西北风， 新疆北部、东部最低气温下降10至15摄氏度，新疆北部部分区域、石河子市、乌鲁木齐市等地部分区域 将出现中到大雪，伊犁河谷山区等地局部暴雪。 新疆北部的阿勒泰地区是首遇寒潮影响的地区之一。"从昨晚到今天10时，阿勒泰市、富蕴县等沿山区 域以及喀纳斯、禾木、可可托海等山区，出现了中到大雪。最大的降雪中心出现在布尔津县石头房子 处，降雪量达到了6.6毫米。降雪天气目前已经进入了最强的一个时段，预计16时后将逐步减弱。"阿勒 泰地区气象台台长博尔楠说。 寒潮之下，民生保障是重中之重。新疆供热企业采取多项措施，确保居民稳定供暖。 新华财经乌鲁木齐12月10日电（记者顾煜、郝玉）10日，今冬最大范围的大风降温雨雪天气率先进入新 疆发力，多地遭遇明显降雪、大风和降温过程。新疆气象、供热、交通等部门迅速响应，细化措施，保 障群众正常生产生活。 "我们提前与合作电厂对接，提升供热负荷要求，启动自有热源补充热量，双源保障确保供热量充足、 温度稳定。"伊宁市供热有限公司运维部部长马磊介绍，公司建立24小时应急值守制度，安排专人响应 市民 ...

Core Insights - The completion of the last single village water station in Zhejiang marks the end of the province's initiative to improve water supply in remote areas, benefiting 2.42 million residents in 5,501 administrative villages [1][2] - The new water station in Zhang Village has a daily supply capacity of 900 tons and employs an automated operation model to ensure water quality and safety [1] - The initiative aims to provide urban-quality drinking water to rural populations, addressing long-standing issues of water access in mountainous and island regions [2] Group 1 - The Zhejiang government has committed to a "no village left behind" strategy, launching a comprehensive upgrade of single village water stations to ensure all residents have access to clean drinking water [2] - Over three years, Zhejiang has constructed 32 new "thousand-ton-per-day" water plants and extended urban water supply networks by 3,915 kilometers, achieving integration of urban and rural water supply systems [2] - The province has implemented a county-level management model for rural water supply, enhancing service response times and increasing resident satisfaction to 98.5% [2] Group 2 - The establishment of water stations has not only improved living conditions for villagers but also supported local agricultural development and increased the marketability of agricultural products [3] - Future plans include integrating water source protection and pipeline upgrades into the "14th Five-Year Plan" to ensure sustainable access to quality water for rural communities [3]

12月5日，山东水务恒业供水有限公司党支部启动第四季度"党员管家进企业"专项行动，组织党员骨干深入各工业园区用水企业，面对面听需求、实打实 解难题，以党建赋能提升供水服务，助力优化营商环境。 齐鲁晚报.齐鲁壹点王芳通讯员李荣芳 走访中，"党员管家"携问题清单、服务手册，与企业负责人深入交流用水需求、水压稳定性等情况，排查设施隐患、解答政策咨询。针对企业"高峰期水 压不足影响生产""老旧管网需维护"等问题，党员管家当场研判，联合技术部门制定"一企一策"，3个工作日完成管网改造与检修，保障企业用水。此次走 访现场解决诉求3件，还建立"企业需求台账"和"党员包联责任制"，实现"问题收集-响应-闭环解决"，受到企业负责人的高度好评。 恒业公司党支部始终以"党建引领服务"为核心，将"党员管家"制度作为优化营商环境关键举措，推出预约上门、绿色通道等服务。下一步，恒业公司党支 部将持续深化"党员管家"服务模式，扩大走访范围，完善对接沟通机制，以更优供水服务助力企业发展。 ...

广告等商务合作，请点击这里 在运行管理与服务优化上，宁夏通过政府购买服务引入专业企业，使得90%的供水工程实现了专业化、 市场化管理。同时，健全问题快速响应机制，年内受理的73件供水投诉及网络反馈问题均已得到妥善解 决。此外，宁夏水利厅积极争取中央及自治区补助资金5285万元，完成了49处工程的维修养护，惠及农 村人口42.5万人。 为确保农村供水工程长期稳定、良性运行，宁夏水利厅印发《小型农村供水工程规范化管理办法(试 行)》，进一步强化工程各环节的安全运行管理。各地完善了市、县级及千吨万人以上供水工程的应急 供水保障预案并加强演练，应急处置能力得到提升。通过开展水质提升专项行动，已将宁夏154处集中 供水工程全部纳入定期水质抽检范围，着力构建从"水源地"到"用户水龙头"的全过程水质安全保障体 系。(完) 来源：中国新闻网 编辑：付健青 宁夏农村自来水普及率达99% 城乡供水一体化筑牢乡村振兴根基 中新网银川12月4日电 (记者 于晶)12月4日，记者从宁夏回族自治区水利厅获悉，宁夏以"工程水网、数 字水网、服务水网"三网融合为关键抓手，全力构建农村供水高质量发展新格局。截至目前，宁夏农村 自来水普及率已提 ...

Core Viewpoint - The company reported a decline in total revenue and net profit for the first half of FY2026, with total revenue at HKD 5.183 billion, down 12.9% year-on-year, and net profit at HKD 571 million, down 24.4% year-on-year [1] Revenue Breakdown - The company's revenue decreased by HKD 769 million year-on-year, with the largest declines in the following segments: water supply construction (down HKD 456 million), property sales (down HKD 241 million), water supply connections (down HKD 223 million), and direct drinking water construction (down HKD 80 million) [2] - The net profit of HKD 571 million reflects a 24.4% year-on-year decline, but adjusted for a non-cash loss of HKD 64 million due to a share dilution from a takeover offer, the adjusted net profit would be approximately HKD 635 million, down 15.9% year-on-year [2] Cost Management - The company has successfully reduced costs, with selling and administrative expenses down 9.0% to HKD 437 million and financial expenses down 17.6% to HKD 352 million [2] - The debt-to-asset ratio showed a downward trend, decreasing by 2.5 percentage points to 64.3% at the end of FY26H1 compared to the beginning of the period [2] Segment Performance - In the urban water supply segment, revenue was HKD 3.271 billion, down 13.1%, with segment profit at HKD 941 million, down 17.4%, primarily due to a reduction in installation, maintenance, and construction projects [2] - The pipeline direct drinking water segment saw revenue of HKD 263 million, down 28.3%, with segment profit at HKD 75 million, down 55.2%, also affected by reduced installation and maintenance projects [2] - The environmental segment reported revenue of HKD 832 million, up 8.7%, with segment profit at HKD 367 million, up 29.7%, driven by increased revenue from the Huizhou Daya Bay Mobil project [2] - The total contracting construction segment had revenue of HKD 398 million, down 6.1%, with segment profit at HKD 158 million, down 60.2%, mainly due to a decrease in water supply project construction [2] - The property segment generated revenue of HKD 170 million, with segment profit of HKD 500,000, down 96.4% year-on-year due to a decline in property project sales [2] Water Supply Operations - The company reported a 5% year-on-year increase in water supply volume, with revenue from water supply operations at HKD 1.801 billion, up 4.5% [3] - The average water price was HKD 2.37 per ton, with 8 projects completing price adjustments and over 20 projects initiating price adjustment procedures, which is expected to enhance profit margins [3] Capital Expenditure and Dividends - Capital expenditure decreased by 31.8% to HKD 1.243 billion, while the total dividend remained stable at HKD 0.13 per share, maintaining a dividend yield of 4.8% [4] - The company anticipates steady growth in core water supply operations, with no accounts receivable risk and increasing free cash flow, enhancing dividend capacity [4] Profit Forecast - Due to the ongoing decline in connection and construction revenue, the company has revised its net profit forecasts for FY2026-2028 from HKD 1.372 billion, 1.387 billion, and 1.415 billion to HKD 1.136 billion, 1.206 billion, and 1.232 billion, respectively, corresponding to PE ratios of 8.4, 7.9, and 7.8 times [4]

Investment Rating - The report maintains a "Buy" rating for China Water Affairs (855 HK) with a target price adjusted to HKD 6.52, reflecting a potential upside of 10.1% from the current price of HKD 5.92 [5][8]. Core Insights - Despite a decline in overall revenue and net profit for FY26H1, the core water supply business showed resilience with a revenue increase of 4.5% and a sales volume increase of 5.0% [2][5]. - The company has accelerated its water price adjustments, with 8 projects approved for price increases, surpassing the annual target of 8 to 10 projects [3][5]. - A significant reduction in capital expenditure by 31.8% to HKD 12.4 billion in FY26H1 is expected to support the company's high dividend policy [4][5]. Financial Performance Summary - For FY26H1, total revenue and net profit decreased by 12.9% and 24.4% year-on-year, amounting to HKD 5.18 billion and HKD 570 million respectively [1][5]. - The water supply connection revenue fell by 28.6% to HKD 560 million, primarily due to fluctuations in the mainland real estate market [1][5]. - The wastewater treatment service revenue increased by 14.5% to HKD 360 million, driven by the Huizhou Mobil project contributing revenue since FY25 [2][5]. Revenue and Profit Forecast Adjustments - The forecast for shareholder net profit has been reduced by 10.8%, 14.8%, and 14.8% for FY26, FY27, and FY28 respectively [5][17]. - The target price adjustment reflects these changes, with the new estimates indicating a decrease in revenue projections for FY26 to HKD 9.899 billion, down from previous forecasts [5][17].

Core Viewpoint - Dongwu Securities maintains a "Buy" rating for China Water Affairs (00855), highlighting stable growth in core water supply operations, absence of receivable risks, decreasing capital expenditures, and increasing free cash flow, which enhances cash flow value and dividend capacity [1] Financial Performance - For the first half of FY26, the company reported total revenue of HKD 5.183 billion and a net profit attributable to shareholders of HKD 571 million, with a reduction in sales and administrative expenses by 9.0% to HKD 437 million and financial expenses down by 17.6% to HKD 352 million [2] - The debt-to-asset ratio showed a downward trend, decreasing by 2.5 percentage points to 64.3% at the end of FY26H1 compared to the beginning of the period [2] Segment Performance - In FY26H1, revenue from urban water supply reached HKD 3.271 billion with segment profit of HKD 941 million, influenced by a reduction in installation, maintenance, and construction projects [2] - The pipeline drinking water segment generated revenue of HKD 263 million with a segment profit of HKD 75 million [2] - Environmental segment revenue was HKD 832 million, up 8.7% year-on-year, with segment profit increasing by 29.7% to HKD 367 million, primarily due to revenue growth from the Huizhou Daya Bay Mobil project [2] - Total construction contracting revenue was HKD 398 million with a segment profit of HKD 158 million, while property revenue was HKD 170 million with a segment profit of HKD 500,000 [2] Water Supply Operations - Water supply revenue for FY26H1 was HKD 1.801 billion, a year-on-year increase of 4.5% (5.6% in RMB terms), with water sales volume reaching 76 million tons, up 5.0% [3] - The average water price was HKD 2.37 per ton, with 8 projects completing price adjustments and over 20 projects initiating adjustment procedures, indicating a normalization of the pricing mechanism that is expected to boost profit margins [3] Direct Drinking Water Strategy - The direct drinking water segment's revenue included HKD 185 million from operations, HKD 7 million from installation and maintenance, and HKD 53 million from construction, with equipment sales revenue increasing by 34.1% to HKD 19 million and bottled water sales up 145.4% to HKD 4 million [4] - Capital expenditures continued to decline, totaling HKD 1.243 billion, down 31.8% year-on-year, while the total dividend remained stable at HKD 0.13 per share, maintaining a dividend yield of 4.8% [4]

Core Viewpoint - Dongwu Securities maintains a "buy" rating for China Water Affairs (00855), highlighting the robust growth of its core water supply operations, absence of receivable risks, decreasing capital expenditures, and increasing free cash flow, which enhances its dividend capacity [1] Financial Performance - For the first half of FY26, the company reported total revenue of HKD 5.183 billion and a net profit attributable to shareholders of HKD 571 million, with a reduction in sales and administrative expenses by 9.0% to HKD 437 million and financial expenses down by 17.6% to HKD 352 million [2] - The debt-to-asset ratio showed a downward trend, decreasing by 2.5 percentage points to 64.3% at the end of FY26H1 compared to the beginning of the period [2] Segment Performance - In FY26H1, revenue from urban water supply reached HKD 3.271 billion with a segment profit of HKD 941 million, influenced by a reduction in installation, maintenance, and construction projects [2] - The pipeline drinking water segment generated revenue of HKD 263 million with a segment profit of HKD 75 million [2] - The environmental segment saw revenue of HKD 832 million, up 8.7% year-on-year, with a segment profit of HKD 367 million, a 29.7% increase, primarily due to revenue growth from the Huizhou Daya Bay Mobil project [2] - Total construction contracting revenue was HKD 398 million with a segment profit of HKD 158 million, while the property segment generated revenue of HKD 170 million with a segment profit of HKD 500,000 [2] Water Supply Operations - The company achieved a 5% year-on-year increase in water supply volume, with revenue from water supply operations at HKD 1.801 billion, a 4.5% increase year-on-year [3] - The total water sales volume was 76 million tons, with an average water price of HKD 2.37 per ton; 8 projects completed price adjustments, and over 20 projects have initiated adjustment procedures [3] Direct Drinking Water Strategy - The direct drinking water segment reported revenue of HKD 185 million, with equipment sales increasing by 34.1% to HKD 19 million and bottled water sales soaring by 145.4% to HKD 4 million [4] - Capital expenditures decreased by 31.8% to HKD 1.243 billion, while the total dividend remained stable at HKD 0.13 per share, resulting in a dividend yield of 4.8% [4]