XREC(SZ:000598)2024-07-04 11:07Group 1: Business Overview - The company is a leading comprehensive water and environmental service provider in China, integrating investment, research and development, design, construction, and operation [2] - Key business segments include water supply, wastewater treatment, recycled water utilization, environmental services, and engineering [2] Group 2: Pricing Mechanisms - Water pricing adjustments require submission to government price authorities and must undergo cost audits and public hearings [3] - Wastewater treatment service fees are adjusted every 2 to 3 years based on agreements with government entities, with a current tentative price of 2.63 CNY per ton for the 2024-2026 period [3] Group 3: Market Expansion - The company focuses on expanding its market share in Chengdu and surrounding areas while actively seeking quality resources nationwide [4] - With nearly 80 years of water supply operation experience and over 30 years in wastewater treatment, the company leverages its operational management capabilities and brand advantages for market expansion [4] Group 4: Financial Strength and Dividends - The company holds the highest AAA credit rating in China, providing it with strong financial stability and low-cost financing advantages [4] - Future dividend policies will consider business performance and funding needs, with plans to increase the dividend ratio while managing capital expenditure pressures [4]