XREC(000598)2025-06-04 11:08Group 1: Pricing Mechanisms - The water pricing adjustment mechanism requires submission to government price authorities, following cost audits and public hearings [2] - The sewage treatment service fee is adjusted annually or biannually based on agreements with government entities, with provisions for temporary adjustments due to significant cost changes [3] Group 2: Project Developments - The Chengdu Wanxing Environmental Power Plant (Phase III) is under construction, with a capacity of 800 tons/day for kitchen waste, 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 increased business scale [3] - The company emphasizes accounts receivable management and has integrated collection efforts into performance assessments [3] Group 4: Future Capital Expenditure and Dividends - The company has significant capital expenditures due to multiple water supply and waste projects, which are expected to decrease as projects become operational in the next 1-2 years [4] - The company aims to enhance shareholder returns by increasing cash dividend ratios once major projects are operational [4]