XREC(000598)2025-03-04 11:32Group 1: Project Operations and Expansion - In 2024, the company launched the Xi'an kitchen waste project and integrated water supply resources in Dayi, with projects like Chengdu High-tech Zone Qilong Water Plant and Phoenix River Second Channel Reclaimed Water Plant operational [2] - The company focuses on expanding its water supply, sewage treatment, and solid waste disposal business, aiming to deepen its market presence in Chengdu and surrounding areas while actively integrating quality resources nationwide [2][3] Group 2: Debt Policy and Financial Impact - The debt reduction policy is expected to enhance local government fiscal capacity, positively impacting the water and environmental protection industry [4] - The company maintains close communication with the government to expedite project payments, ensuring operational stability [4] Group 3: Ongoing Projects - Current projects under construction include Chengdu Water Plant Phase III (remaining 400,000 tons/day), Xiwayan Reclaimed Water Plant, and Chengdu Sixth Reclaimed Water Plant (Phase II), with several projects in various stages of progress [5] Group 4: Pricing Mechanism - The sewage treatment service fee is adjusted based on agreements with government entities, typically every 2 to 3 years, with a temporary adjustment possible due to significant cost changes [6] - The average sewage treatment service fee for Chengdu's central urban area for the period 2024-2026 is set at 2.63 CNY per ton [6] Group 5: Dividend Policy - The company is committed to sustainable high-quality development, aiming to enhance operational quality and profitability to provide stable and continuous returns to shareholders while balancing operational funding needs [7]