倪文进强调，下一步，水利部将聚焦"加力实施新一轮千亿斤粮食提升行动，增强粮食等重要农产品供 给保障能力"，科学布局"十五五"发展规划，整装推进大中型灌区现代化建设和改造，提升灌排泵站能 力，持续健全农业节水增效政策体系，为保障国家粮食安全和水安全提供更加有力的支撑。 来源：中国新闻网 编辑：张澍楠 水利部：到2025年底，我国耕地灌溉面积达10.9亿亩 中新网1月9日电 国新办9日举行新闻发布会，介绍加快国家水网建设进展情况。水利部农村水利水电司 司长倪文进在会上表示，水利是农业的命脉。到2025年底，我国耕地灌溉面积达到了10.9亿亩，比"十 三五"末增加了5300万亩以上，耕地灌溉面积的粮食产量达到了80.76%。 其中，大中型灌区粮食播种面积占全国的38.89%，粮食产量占全国总量的50.9%，亩均产量1164斤，是 全国耕地平均水平的1.5倍，是雨养耕地的2.7倍，大中型灌区的粮食生产"主力军"作用得到凸显。 倪文进介绍，在保障粮食安全、夯实水利基础方面，水利部重点做了三方面工作： 第一，夯实灌排工程的基础。以"两重"建设为契机，去年水利部新开工了7处大型灌区，推进了15处在 建大型灌区建设和157处 ...

Core Points - The core message emphasizes the commitment and confidence of both government and enterprises in promoting the development of the private economy, highlighted by a recent conference in Changsha, Hunan [2][10]. Policy Support for Private Economy - The government has implemented a series of policies to support the high-quality development of the private economy, focusing on enhancing measures, legal protections, and optimizing services for enterprises [4][6]. - Significant progress has been made in allowing private capital into nuclear power projects, with private investment exceeding 24 billion yuan in 2025 [5]. Legal Protections for Private Enterprises - The introduction of the Private Economy Promotion Law has established a legal framework to protect the rights and interests of private enterprises, reinforcing the commitment to "two unwavering" principles [7]. - Administrative law enforcement issues affecting enterprises have been addressed, with a reported 30% decrease in administrative inspections this year [8]. Confidence in Future Development - The conference theme "Strengthening Confidence, Moving Forward with Determination" reflects the optimism of government officials and private enterprise representatives regarding the future of the private economy [10]. - Companies like SANY Group and JD Group have reported significant growth, with SANY's sales increasing over 20% and profits over 30% in the first ten months of the year [10]. Future Opportunities for Private Economy - The next five years are expected to see robust growth in emerging industries such as renewable energy and intelligent technologies, providing ample opportunities for private enterprises [11]. - Investment potential in urban renewal, healthcare, education, and elder care sectors is highlighted, indicating a favorable environment for private enterprises to expand [11].

Core Viewpoint - Shandong Province is implementing a comprehensive approach to manage saline-alkali land, focusing on water management, technological innovation, and reform to ensure food security and improve agricultural productivity [1][4][5]. Group 1: Water Management - The saline-alkali land in Shandong covers over 8.9 million acres, primarily in coastal areas, which has historically hindered agricultural production [1]. - In the Binzhou and Dongying regions, saline-alkali land constitutes 70.33% and 80% of arable land, respectively, making water management critical for agricultural success [4][5]. - Shandong is enhancing water infrastructure to support saline-alkali land management, with projects like the West Water East Transfer project capable of transferring 25 million cubic meters of water annually [6][7]. Group 2: Technological Innovation - Technological improvements have significantly reduced soil salinity levels in demonstration areas, with soil salinity dropping from 16‰ to 3‰ and pH levels optimized to 7.95, leading to increased crop yields [8][9]. - The implementation of digital twin irrigation systems allows for real-time monitoring and data-driven irrigation management, improving water use efficiency by over 10% [12][13]. Group 3: Reform and Investment - Shandong is reforming agricultural water pricing and rights allocation to enhance water resource management, providing double water rights for trial areas to stimulate saline-alkali land development [13][14]. - The introduction of social capital into saline-alkali land management has led to significant investments, with land rental prices increasing from 200-300 yuan to over 760 yuan per acre after improvement [14][15]. - The provincial government aims to create a modern water network and continue the modernization of irrigation systems to support sustainable agricultural practices [15].

Core Insights - The company, Dayu Water-saving, is recognized as a leading private player in the agricultural water conservancy sector, emphasizing its dominant market position [1] - Recent increases in sales and management expenses are attributed to the company's efforts to complete a nationwide and full industry chain layout, which has led to a decline in project gross margins due to intensified market competition [1] - The company has completed its national and full industry chain layout, indicating that sales and management expenses are expected to stabilize moving forward [1] - The government is enhancing its investment policies in the water conservancy and agriculture sectors, with several significant policies introduced to support future order and revenue growth for the company [1] Government Policies - The government has rolled out key policies such as the "Implementation Plan for Gradually Transforming Permanent Basic Farmland into High-Standard Farmland" and the "Accelerated Construction of an Agricultural Powerhouse Plan (2024-2035)" [1] - These policies are designed to strengthen the market environment and provide a solid foundation for the company's future growth in orders and revenue [1]

Core Insights - Jiangsu Province has become the first in China to complete the provincial-level acceptance of pilot projects for comprehensive agricultural water price reform and modern irrigation district construction [1][2] - The Nanjing Liuhe District Xinyu River Irrigation Area and the Taizhou Jiangyan District have developed replicable and promotable pilot experiences in modern irrigation district construction [2] Group 1: Pilot Projects and Innovations - The Nanjing Liuhe District Xinyu River Irrigation Area is one of the two national pilot areas focusing on comprehensive agricultural water price reform [1] - The irrigation area has established an integrated project construction model, a diversified financing mechanism, and a collaborative water management system [1] - The Taizhou Jiangyan District has created a governance model that emphasizes government leadership, company initiative, and farmer responsibility [2] Group 2: Reform Measures and Development Models - The Jiangyan model incorporates precise pricing, water allocation, measurement, and compensation systems [2] - The reforms aim to achieve high-quality development in irrigation districts through a combination of digital empowerment and integrated development [2] - Both pilot areas have successfully passed provincial acceptance, marking significant progress in Jiangsu's agricultural water price reform [2]

Core Insights - Hubei province has enhanced its grain and important agricultural product supply capacity through various measures since the beginning of the 14th Five-Year Plan, ensuring a bountiful harvest in the "Jingchu Granary" [1][2] Group 1: Agricultural Production - Hubei has built 11.84 million acres of high-standard farmland and implemented large-scale yield improvement actions in 55 major grain-producing counties, leading to a stable annual grain production of over 55 billion pounds for the past four years [1] - The total grain production in Hubei is projected to reach 55.7 billion pounds in 2024, indicating a strong agricultural output [1] Group 2: Agricultural Industry Development - Hubei is developing a trillion-yuan modern agricultural product processing industry, with the comprehensive output value of ten key agricultural industry chains expected to reach 1.09 trillion yuan in 2024 [1] - Four industry chains, including high-quality rice, live pigs, freshwater products, and vegetables, are projected to exceed 100 billion yuan in output value [1] - The province has added 1,181 new regulated agricultural product processing enterprises, bringing the total to 5,922, and established 36 new national key leading enterprises, totaling 98 [1] Group 3: Water Resource Management - Hubei has implemented 191 large and medium-sized irrigation projects during the 14th Five-Year Plan, increasing the irrigated area by over 17 million acres [2] - The province has improved drainage capabilities by constructing and renovating 55 drainage pump stations in flood-prone areas, significantly enhancing irrigation and drainage capacity [2] - Digital twin irrigation pilot projects have been launched in areas like Zhanghe and Wuling, optimizing irrigation water scheduling and achieving precise irrigation [2]

Core Viewpoint - Dayu Water-saving is committed to technological research and development, promoting domestic substitution in core areas, and has successfully introduced advanced international drip irrigation technology to China, making it accessible for local farmers [2] Group 1: Technological Advancements - The company has pioneered the domestic substitution of expensive drip irrigation technology, transforming it into affordable products for Chinese farmers [2] - Dayu Water-saving's drip irrigation belt production technology and anti-blocking drip irrigation technology are at an international first-class level [2] - The company has developed smart metering and control products, successfully eliminating reliance on foreign counterparts, ensuring the security and confidentiality of agricultural water data [2] Group 2: Innovative Solutions - The newly developed acoustic rain-enhancement technology fills a gap in efficient and harmless artificial rain-making technology both domestically and internationally [2] - This innovation is expected to represent an important aspect of new productive forces in agriculture [2]

Summary of Dayu Water-saving Group's Conference Call Company Overview - **Company**: Dayu Water-saving Group - **Date**: August 26, 2025 - **Total Assets**: 9.155 billion CNY, slightly decreased from the beginning of the year [1][3] - **Cash Reserves**: 1.202 billion CNY, reduced but still at a reasonable level [3] - **Net Profit**: 5.7879 million CNY, with a decline due to non-recurring gains from the previous year [3][4] Industry Insights - **Industry**: Water Conservancy and Agriculture - **Investment in Water Conservancy**: Increased to 29% of total infrastructure investment, indicating strong government support and certainty in the sector [5] - **Regulatory Environment**: Transitioning from hard construction focus to soft construction, benefiting private enterprises with strong design and operational capabilities [5] Financial Performance - **Revenue**: 1.276 billion CNY for the first half of 2025, stable despite macroeconomic challenges [3] - **Management and Financial Expenses**: Decreased by 8.76% and 12% respectively, indicating improved cost control [4] - **Accounts Receivable Management**: Achieved a reduction of nearly 10% in accounts receivable balance, recovering over 400 billion CNY in receivables [3][8] Strategic Initiatives - **Project Management**: Strengthened project lifecycle management and accelerated key projects like Hainan Niululing [6] - **Focus Areas for H2 2025**: High-standard farmland construction, large irrigation area construction, and regional large-scale water diversion projects [11][12] - **Marketing Strategy**: Enhanced national business layout and strategic partnerships with major state-owned enterprises [9] Future Outlook - **Order Expectations**: Anticipated significant improvement in order situation in H2 2025 due to the rollout of long-term government bonds and local government special bonds [7][13] - **Core Business Directions**: Emphasis on technology-driven solutions for sustainable water resource utilization and agricultural modernization [7][12] - **International Expansion**: Committed to a comprehensive international strategy, focusing on providing complete solutions rather than just products [25] Technological Advancements - **Product Development**: New products in flood control command systems, small river flood disaster management, and digital twin engineering [14][15] - **Sensor Integration**: Achieved extensive sensor integration capabilities, enhancing competitive advantage [17] Challenges and Opportunities - **Market Conditions**: Despite lower-than-expected performance in H1 2025, the company remains optimistic about the agricultural water conservancy sector [12] - **Cash Flow Management**: Negative cash flow in H1 due to increased project investments, but expected to improve in H2 [3][7] - **Competitive Landscape**: Plans to leverage design and information technology capabilities to enhance profitability in high-margin segments [23] Conclusion - **Overall Sentiment**: The company expresses confidence in its strategic direction and the growth potential of the water conservancy and agricultural sectors, with a focus on sustainable practices and technological innovation [21][22]

Core Viewpoint - The agricultural water price reform in Yongkang City, Zhejiang Province, has successfully passed inspection, becoming the first among 41 county-level units in the province to achieve this milestone [1][3]. Group 1: Reform Implementation - The agricultural water price reform was initiated in 2018, establishing four key mechanisms: water price formation, precise subsidies and rewards, engineering management, and water usage management [3]. - The reform has led to the enhancement of 176 pump stations, significantly improving irrigation infrastructure and encouraging village collective participation [3]. Group 2: Impact on Agricultural Land - The reform has benefited an agricultural area of 254,300 acres, a 6.6-fold increase from 38,600 acres in 2018, contributing significantly to food security [3][5]. Group 3: Water Conservation and Efficiency - The overall water-saving rate in Yongkang City has exceeded 10%, with an annual total water savings of over 5.5 million cubic meters [5]. - The irrigation cycle for the Yangxi Reservoir irrigation area has been reduced from 7 days to 4 days, saving over 1.5 million cubic meters of water, which can be redirected for urban and ecological use [5]. Group 4: Agricultural Production Benefits - The reform has led to a 5% increase in rice yield per acre and improved the quality of vegetables and fruits [5]. - The reduction in irrigation water usage has decreased costs for farmers, with irrigation expenses dropping by approximately 10% [5].

Core Viewpoint - The rise of Real World Asset (RWA) tokenization is driven by multiple factors, including the lack of liquidity in traditional assets, the maturity of blockchain technology, and changes in market demand. The industry is transitioning from concept validation to practical application, with significant growth in total value locked (TVL) reaching $12.5 billion by June 2025, a 124% increase from 2024 [7][8]. Group 1: RWA Overview - RWA refers to the digital representation and trading of tangible and intangible assets through blockchain technology, essentially creating tradable tokens based on real-world assets [6]. - The RWA industry is currently at a critical juncture, moving towards large-scale application through cross-industry collaboration, compliance pilots, and underlying technology innovation [7]. Group 2: Market Trends and Collaborations - Major global banks like Citibank and Standard Chartered are exploring RWA applications in payment settlements, asset management, and cross-border transactions [7]. - Recent partnerships, such as the one between Hanyu Pharmaceutical and KuCoin, aim to explore RWA tokenization projects in Hong Kong, focusing on innovative drug development revenue rights [8]. Group 3: Asset Suitability and Challenges - Not all assets are suitable for RWA tokenization; successful assets must meet three criteria: value stability, clear legal rights, and verifiable off-chain data [8]. - The report identifies five main asset categories for RWA: financial assets (gold, bonds), renewable energy assets (charging stations, photovoltaics), real estate, intangible assets (carbon credits, data), and computing power assets (GPU hardware) [8]. Group 4: Regulatory and Standardization Efforts - The launch of the RWA registration platform in Hong Kong aims to standardize the tokenization process, enhancing data management and compliance [11]. - The Hong Kong Web3.0 Standardization Association is developing key standards to support the RWA lifecycle, focusing on privacy protection, identity verification, and cross-chain technology [11]. Group 5: Financing Opportunities - The RWA registration platform is expected to transform assets into financeable products, enabling companies to leverage their projects for funding through standardized data submission and token issuance [12].