XREC(000598)2025-03-07 10:52Group 1: Pricing Mechanisms - The water pricing adjustment mechanism is based on national policies and agreements, requiring approval from government price authorities after cost audits and hearings [2][3] - The sewage treatment service fee is adjusted every 2 to 3 years, with a temporary adjustment possible due to significant cost changes [3] - The average sewage treatment service fee for Chengdu's central urban area for 2024-2026 is set at 2.63 CNY per ton [3] Group 2: Ongoing Projects - Current projects include Chengdu Water No. 7 Plant Phase III (remaining capacity of 400,000 tons/day) and several other water and sewage treatment facilities, expected to be operational within 1-2 years [4] - The Chengdu Wanxing Environmental Power Plant Phase III has a waste treatment capacity of 5,100 tons/day, with additional capacities for sludge and kitchen waste [4] Group 3: Policy Impact - Debt reduction policies are expected to enhance local government fiscal capabilities, positively impacting the water and environmental protection industry [5] - The company is actively monitoring policy developments and maintaining communication with the government to expedite project payments [5] Group 4: Dividend Considerations - The company aims for sustainable high-quality development, focusing on improving operational quality and profitability to provide stable returns to shareholders [7] - Future dividend levels will be enhanced while balancing operational funding needs [7]