证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 | 投资者关系活动 | ★特定对象调研 □分析师会议 | | | --- | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 | 平安养老-徐唯俊 | | | 人员姓名 | | | | 时间 | 年 月 日 2025 7 11 | | | 地点 | 成都市兴蓉环境股份有限公司 | | | 上市公司接待人 | 刘杰 | | | 员姓名 | 问题 1：请介绍公司供排水及垃圾焚烧发电项目情况。 | | | | 答：公司目前运营及在建的供水项目规模约 430 万吨/日，在建 | | | | 项目主要为成都市自来水七厂三期剩余 40 万吨/日，目前已进入 试运行阶段。 | | | 投资者关系活动 | | | | | 公司目前运营及在建的污水处理项目规模逾 万吨/日， 480 | | | 主要内容介绍 | 其中已投运项目规模逾 450 万吨/日。在建项目计划于未来 | 1-2 | | | 年内投运。 | | | | ...

| 投资者关系活动 | ★特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称及 | 华夏久盈-李孟海、张嵛斌；长江证券-徐科、李博文 | | 人员姓名 | | | 时间 | 2025 年 7 月 8 日 | | 地点 | 线上交流 | | 上市公司接待人 | 刘杰、梁一谷 | | 员姓名 | | | | 问题 1：请介绍公司供排水及垃圾焚烧发电业务情况。 答：公司供水业务主要分布在四川、江苏和海南，目前运营和 | | | 在建项目规模合计约 430 万吨/日，在建项目主要为成都市自来 | | | 水七厂三期剩余 40 万吨/日，目前已进入试运行阶段。 | | 投资者关系活动 主要内容介绍 | 公司污水处理业务主要分布在四川、甘肃、宁夏、陕西、 | | | 江苏、河北、山东和西藏，目前运营和在建的项目规模逾 480 | | | 万吨/日，其中已投运项目规模逾 450 万吨/日。在建项目计划于 | | | 未来 年内投运。 1-2 | | | 公司垃圾焚烧发电业务 ...

证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 2025 年 6 月 27 日投资者关系活动记录表 二、参观项目：成都市第九再生水厂。 问题 2：请问公司应收账款情况。 答：随着公司近年来加强市场拓展，业务规模不断扩大，应收 账款相应有所增加。公司高度重视应收账款管理，积极开展回 款催收工作。 问题 3：请问公司在建垃圾焚烧发电项目情况。 答：公司目前正在推进成都万兴环保发电厂（三期）项目建设， 该项目生活垃圾处理规模为 5,100 吨/日，污泥协同处理规模为 800 吨/日，厨余垃圾处理规模为 800 吨/日，预计 2026 年投运。 问题 4：请问公司未来的资本开支及分红考虑。 答：近年来，公司因实施多个供排水、固废项目建设，资本开 支较大。上述项目大多在未来 1-2 年内建成投运并释放效益， 项目建成投运后，相应的资本开支会逐步下降。 公司重视股东回报，近年来着力提升现金分红比例。未来， 待公司主要在建项目建成投运并释放产能，届时公司将更有条 件进一步提高股东回报水平。 编号：2025-20 投资者关系活动 类别 ★特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布 ...

证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 2025 年 6 月 26 日投资者关系活动记录表 编号：2025-19 投资者关系活动 类别 ★特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 长江证券-徐科 富国基金-武云泽、蒲世林、毛一凡、刘莉莉、方昊 时间 2025 年 6 月 26 日 地点 线上交流 上市公司接待人 员姓名 刘杰、梁一谷 投资者关系活动 主要内容介绍 问题 1：请介绍公司运营及在建的供排水项目产能情况。 答：目前，公司运营及在建的供水项目规模约 430 万吨/日、污 水处理项目规模逾 480 万吨/日。在建的供排水项目大多在 2025 年-2026 年内投运。 问题 2：请问公司应收账款情况。 答：随着公司近年来加强市场拓展，业务规模不断扩大，应收 账款相应有所增加。公司高度重视应收账款管理，积极开展回 款催收工作。 问题 3：请问公司在建垃圾焚烧发电项目情况。 | | 答：公司目前正在推进成都万兴环保发电厂（三期）项目建设， | | --- | --- | | | 该项目生活垃圾处 ...

证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 投资者关系活动 类别 ★特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 建信基金-刘洋 时间 2025 年 6 月 11 日 地点 成都市兴蓉环境股份有限公司 上市公司接待人 员姓名 梁一谷、曾倩 投资者关系活动 主要内容介绍 问题 1：请问公司应收账款情况。 答：随着公司近年来加强市场拓展，业务规模不断扩大，应收 账款相应有所增加。公司高度重视应收账款管理，积极开展回 款催收工作。 问题 2：请问公司在建垃圾焚烧发电项目情况。 答：公司目前正在推进成都万兴环保发电厂（三期）项目建设， 该项目生活垃圾处理规模为 5,100 吨/日，污泥协同处理规模为 800 吨/日，厨余垃圾处理规模为 800 吨/日，预计 2026 年投运。 问题 3：请问公司垃圾焚烧发电项目是否考虑绿电直供。 | 答：公司积极关注政策动态，未来将进一步研究探索绿电直供 | | --- | | 相关模式，不断提升固废资源利用率。 | | 问题 4：请问公司市场拓展规划。 | | 答：公司为全国 ...

Group 1: Pricing Mechanisms - The water pricing adjustment mechanism is based on national policies and agreements, requiring approval from government price authorities after cost audits and hearings [3] - The sewage treatment service fee is adjusted every 2 to 3 years, with a temporary adjustment possible due to significant cost changes; the average sewage treatment fee for 2024-2026 is set at 2.63 CNY per ton [3] Group 2: Project Developments - The Chengdu Wanxing Environmental Power Plant (Phase III) is under construction, with a waste processing capacity of 5,100 tons/day and sludge treatment capacity of 800 tons/day [3] - The company operates and is constructing water supply projects with a total capacity of approximately 4.3 million tons/day and sewage treatment projects with a capacity of about 4.8 million tons/day [3] Group 3: Accounts Receivable Management - As of the end of 2024, the company's accounts receivable balance is approximately 4 billion CNY, reflecting an increase due to market expansion [4] - The company emphasizes accounts receivable management and has integrated collection efforts into performance assessments [4] Group 4: Cost Reduction and Efficiency Improvement - The company implements refined management and innovation to reduce costs and improve efficiency, including standardization and the establishment of a smart cloud control center [5] - The "Digital Strong Enterprise" initiative aims to enhance operational efficiency through the creation of five centralized management centers [5] Group 5: Market Expansion Strategy - The company focuses on becoming a national water and environmental service provider, expanding its market presence in Chengdu and surrounding areas while exploring niche markets nationwide [6]

Group 1: Water Supply and Wastewater Projects - The company is currently constructing several water supply and wastewater projects, including Chengdu Water Plant Phase III (remaining capacity of 400,000 tons/day), Xiwayan Reclaimed Water Plant, and the second phase of Chengdu's Fifth and Sixth Reclaimed Water Plants, which are in debugging or trial operation stages [2][3]. Group 2: Waste Incineration Power Generation Projects - The Chengdu Wanxing Environmental Power Plant Phase III is under construction, with a household waste processing capacity of 800 tons/day, sludge co-processing capacity of 5,100 tons/day, and kitchen waste processing capacity of 800 tons/day, expected to be operational by 2026 [3]. Group 3: Accounts Receivable Management - As of the end of 2024, the company's accounts receivable balance is approximately 4 billion yuan, reflecting an increase due to market expansion. The company emphasizes accounts receivable management and has integrated collection efforts into performance assessments [3]. Group 4: Market Expansion Strategy - The company aims to be a national water and environmental service provider, focusing on expanding its market presence in Chengdu and surrounding areas while actively exploring resource integration and niche markets nationwide [3]. Group 5: Capital Expenditure and Dividend Policy - The company has significant capital expenditures due to multiple ongoing water supply and waste projects, which are expected to be operational within 1-2 years, leading to a gradual decrease in capital spending. The company is committed to increasing cash dividend ratios as major projects come online and generate capacity [3].

Group 1: Project Development - The company is currently constructing several water supply and drainage projects, including Chengdu Water Plant Phase III (remaining capacity of 400,000 tons/day) and multiple recycled water plants, which are in the debugging or trial operation stages [2][3]. Group 2: Pricing Mechanisms - The water pricing adjustment mechanism requires submission to government authorities, with adjustments contingent on cost audits and public hearings. Changes in upstream resource pricing will trigger synchronized adjustments [3]. - The sewage treatment service fee is typically adjusted every 2 to 3 years, with a current tentative price of 2.63 RMB/ton for the central urban area of Chengdu for the 2024-2026 period [3]. Group 3: Accounts Receivable Management - As the company expands its market presence, accounts receivable have increased, totaling approximately 4 billion RMB by the end of 2024. The company emphasizes the management of accounts receivable and has improved collection efforts [4]. Group 4: Business Expansion Strategy - The company aims to deepen its market presence in Chengdu and surrounding areas, optimize resource allocation, and explore mergers and acquisitions to strengthen its national market position. It also plans to extend into niche areas such as direct drinking water and waste disposal [4]. Group 5: Capital Expenditure and Shareholder Returns - The company has significant capital expenditures due to multiple ongoing projects, which are expected to decrease as projects are completed within the next 1-2 years. The company is committed to increasing cash dividends for shareholders as projects come online and capacity is released [4].