Core Points - The company held its annual shareholder meeting on June 26, 2025, to discuss various reports and proposals for the year 2024 [1][2] - The company reported a total asset increase of 9.29% year-on-year, reaching 6.761 billion yuan, and a net profit increase of 19.01%, amounting to 186.24 million yuan [3][4] - The company emphasized its commitment to high-quality development and innovation in the water treatment sector, focusing on improving operational efficiency and service quality [7][11] Financial Performance - Total assets reached 6.761 billion yuan, a 9.29% increase from the previous year [4] - Total liabilities increased by 13.89% to 3.842 billion yuan, while total equity rose by 3.78% to 2.919 billion yuan [4] - Operating revenue grew by 15.35% to 1.21588 billion yuan, with operating costs increasing by 9.72% to 979.75 million yuan [4] Business Operations - The company processed 45.92 million tons of wastewater, a 14.34% increase year-on-year, and achieved a settlement volume of 47.93 million tons, up 12.48% [3][4] - The company has successfully completed several wastewater treatment plant expansion and upgrade projects, enhancing its operational capacity [6][25] - The company is focusing on optimizing its management system and enhancing its performance evaluation mechanisms to improve overall efficiency [5][24] Industry Trends - The water treatment industry is transitioning from a phase of rapid expansion driven by investment to a focus on high-quality service and operational efficiency [10][11] - The market is expected to experience slower growth rates in the coming years, with a shift towards refined operations and service quality [10][11] - The government is encouraging private enterprises to participate in water treatment projects, providing new opportunities for growth in the sector [16][17]

Core Viewpoint - The company, Fujian Strait Environmental Protection Group Co., Ltd., has proposed a profit distribution plan for the year 2024, which includes a cash dividend of RMB 0.27 per 10 shares, amounting to a total of RMB 38,473,813.60, representing 20.06% of the net profit attributable to shareholders for the year [3][35][80]. Company Overview - The company primarily engages in wastewater treatment, responsible for the investment, operation, management, and maintenance of wastewater treatment facilities within its designated areas [5][13]. - The company operates 28 wastewater treatment facilities with a total designed capacity of 200.50 million tons per day, of which approximately 148.67 million tons per day is currently operational [13]. Industry Characteristics - The wastewater treatment industry is characterized by stable demand, relatively low sensitivity to economic cycles, and profitability that is less affected by fluctuations in energy and basic production material prices [6]. - The industry has significant regional characteristics, as wastewater treatment companies can only operate within the coverage of their sewage collection networks, leading to a monopolistic market structure in designated areas [7][8]. Financial Performance - For the reporting period, the company achieved operating revenue of RMB 1,215,878,138.00, a year-on-year increase of 15.35%, and a net profit attributable to shareholders of RMB 191,750,265.32, up 32.86% from the previous year [80]. - The company’s available distributable profit as of December 31, 2024, is RMB 995,509,128.87, which supports the proposed dividend distribution [3][75]. Profit Distribution Plan - The proposed profit distribution plan includes a cash dividend of RMB 0.27 per 10 shares, with a total of RMB 14,427,686.44 to be distributed based on the total share capital of 534,358,757 shares as of December 31, 2024 [3][35]. - The total cash dividend for 2024, including the mid-year distribution, amounts to RMB 38,473,813.60, which is less than 30% of the net profit, justified by the company's need to retain earnings for future projects and operational needs [75][82]. Future Development - The company is in a growth phase, focusing on expanding its business beyond its current advantageous regions, while also ensuring adequate retained earnings to support market expansion and project development [79][82]. - The company plans to utilize retained earnings for market development, project construction, and daily operational needs, ensuring sustainable growth and shareholder returns [82].