Core Viewpoint - Jiangnan Waterworks (601199) has confirmed that it has not yet engaged in water rights trading, which requires compliance with national policies and regulations, and must be conducted through professional trading platforms [1] Company Overview - Jiangnan Waterworks is located on the southern bank of the Yangtze River estuary, benefiting from abundant water resources and convenient water extraction [1] - The company's main business includes the production and sale of tap water, drainage services, and related water treatment operations, categorizing it within the municipal public utility sector [1] Water Rights Trading - The implementation of water rights trading by the company is contingent upon adherence to relevant national policies and regulations [1] - Currently, the company has not initiated any water rights trading activities [1]

Core Viewpoint - Jiangnan Waterworks (601199.SH) has confirmed that its current business focus is primarily in the water sector, with no plans to expand into the energy sector [1] Business Operations - The main operations of the company include the production and sale of tap water, drainage services, and related water treatment activities [1] - The company also engages in engineering services and drainage operations, which encompass wastewater treatment, drainage network operation and maintenance, drainage network engineering, and entrusted operation services for wastewater treatment plants [1] Future Business Development - As of now, there are no business developments or plans for diversification into the energy sector [1]

Core Viewpoint - Jiangnan Water's 2024 annual report shows significant growth in revenue and net profit, highlighting the company's focus on smart water management and urban water quality improvement [1][2] Financial Performance - The company's operating revenue reached 1.53 billion yuan, a year-on-year increase of 12.4% - The net profit attributable to shareholders was 402 million yuan, up 24.3% year-on-year - The net profit excluding non-recurring items was 404 million yuan, reflecting a 35.4% year-on-year increase [1] Business Operations - Jiangnan Water's main business includes the production and sale of tap water, drainage, and related water treatment services, along with engineering and drainage operations [1] - The company is actively involved in the construction of "zero-carbon water plants," focusing on carbon management, energy efficiency, clean energy utilization, and smart operations [1] Industry Trends - The development of smart water management is increasingly recognized as a key indicator of urban management intelligence, driven by policies promoting digital infrastructure and environmental protection [1] - The company is implementing a "Smart Water 2.0" plan, integrating IoT, big data, and AI to enhance operational capabilities and decision-making [2] Infrastructure Improvement - The company has successfully won bids for integrated operation and management projects for rainwater and sewage systems, addressing issues related to aging water supply networks [2] - Upgrading old pipelines is expected to reduce leakage, improve water quality stability, and lower energy consumption in urban water supply [2]