滇池水务2025中期报告

CONTENTS目 錄 2CHAPTER ONECORPORATE INFORMATION5CHAPTER TWOLETTER FROM THE CHAIRPERSON10CHAPTER THREEDEFINITIONS15CHAPTER FOURGLOSSARY OF TECHNICAL TERMS17CHAPTER FIVESUMMARY OF FINANCIAL AND OPERATING DATA19CHAPTER SIXMANAGEMENT DISCUSSION AND ANALYSIS53CHAPTER SEVENCORPORATE GOVERNANCE AND OTHER INFORMATION65CHAPTER EIGHTINTERIM FINANCIAL INFORMATION CHAPTER ONECORPORATE INFORMATION 153232033207 214 PRC LEGAL ADVISERTO THE COMPANY Yunnan Jianguang Law Firm14th Floor, Block 2, NanyuechengGuangfu RoadXishan DistrictKunming, Yunnan ProvincePRC 1617 H SHARE REGISTRARH Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong BOARD OF DIRECTORS Mr. Zeng Feng(Chairperson)Mr. Chen Changyong(General Manager) 2025822 Mr. Xu JingdongMr. Zhang Yang(resigned on 22 August 2025)Ms. Cheng Yijing Non-executive Directors Audit Committee Strategy andInvestment Decision Committee CHAPTER ONECORPORATE INFORMATION CHAPTER TWOLETTER FROM THE CHAIRPERSON Dear Shareholders, 20253815 The year of 2025 marks the conclusion of the 14th Five-Year Plan andrepresents a decisive year for Yunnan Province’s “3815” StrategicDevelopment Goals, specifically the “Three-Year Leap Forward”initiative. Kunming Dianchi Water Treatment Co., Ltd. (the “Company”)has consistently aligned its efforts with the “Dual Carbon” goals,firmly embracing the principle that “lucid waters and lush mountainsare invaluable assets”. By focusing on our core responsibilities,driving efficiency gains, mitigating major risks, and maintainingstable operations, we are advancing the Company’s high-quality andsustainable development. CHAPTER TWOLETTER FROM THE CHAIRPERSON PERFORMANCE REVIEW: 20252025630670.8131.90.13 In the first half of 2025, amid a complex and volatile global environmentand challenging economic conditions, the Company’s Board ofDirectors and management team remained strategically focused,adhering to the principle of “pursuing progress while ensuring stability”.By concentrating on core business operations, optimising functionalpriorities, enhancing management efficiency, and sustaining cost-reduction initiatives, the Company ensured stable performance acrossall operational aspects during the period. For the six months ended 30June 2025, the Company recorded operating revenue of RMB670.8million; net profit attributable to Shareholders of approximatelyRMB131.9 million; and basic earnings per Share of approximatelyRMB0.13. In terms of core business operations, the Company has consistentlyadhered to the principles of “quality first and efficiency priority,”emphasising operational performance as the cornerstone of its strategy.By focusing on strengthening core competencies and optimisingoperational structure, the Company has consolidated its wastewatertreatment business as the foundation for sustainable development,directing resources to core operations to enhance efficiency. In the firsthalf of 2025, the Company’s self-operated wastewater treatment plantsprocessed 314.4 million cubic meters of wastewater and supplied 53.6million cubic meters of water (including running water and recycledwater). All treated wastewater met discharge standards, quality ofwater supplied achieved full compliance, energy consumption metricsremained within targeted ranges, and all designed treatment capacitiescomplied with national emission standards. 2025314.453.6 In terms of operational management, the Company has established agroup-wide control system and enhanced its operational managementframework, consistently advancing initiatives to focus on core businessareas, streamline management hierarchies, and reduce the number oflegal entities. Simultaneously, it has actively promoted the applicationand implementation of facility and equipment upgrade projects toenhance production and operational efficiency, thereby achieving costreduction and efficiency improvement objectives. CHAPTER TWOLETTER FROM THE CHAIRPERSON In terms of corporate governance, the Company has continuouslyoptimised its internal governance structure by abolishing the Boardof Supervisors and consolidating its relevant functions into the AuditCommittee. Concurrently, it has established a strategic-oriented,s c i e n t i f i c i n t e r n a l c o n t r o l a n d r i s k & c o m p l iance managementframework to ensure high-quality development. 7+ Regarding asset management, the Company focused on its coreoperations and completed the liquidation and deregistration of severalsubsidiaries in the first half of the year, achieving the objectivesof organizational streamlining and standardized management.Simultaneously, in response to industry trends and leveragingregional advantages, it pioneered a green transition model integrating“wastewater treatment plants with photovoltaic systems” – with grid-connected PV stations at seven water purification plants alreadyoperational in the first half of the year, forging a new path for urbanpollution and carbon reduction while