Leidi.com Lei Jianping October 1
Ganzhou Water Affairs Co., Ltd. (referred to as "Ganzhou Water Affairs") recently submitted a prospectus and is preparing to be listed on the main board of the Shenzhen Stock Exchange. Ganzhou Water Affairs plans to raise 554 million yuan.
Among them, 140 million yuan was used for the second phase expansion project of Longhua Water Plant, 84 million yuan was used for the second and third phase expansion and reconstruction projects of Baita Sewage Treatment Plant, and 330 million yuan was used to repay bank loans.
Annual revenue 922 million
The main business of Ganzhou Water Affairs includes tap water production and supply business, sewage treatment business and municipal water engineering business.
Since the 1980s, Ganzhou Water Affairs has been focusing on the investment, construction, operation management and maintenance of the water industry in Ganzhou City. It has now developed into a business integrating water supply, sewage treatment, secondary water supply, municipal water engineering and other businesses. It is an excellent local comprehensive water company with complete qualifications such as industrial enterprise qualifications, engineering design qualifications and inspection and testing agency qualifications.
The prospectus shows that Ganzhou Water's revenue in 2020, 2021, and 2022 will be 588 million yuan, 812 million yuan, and 922 million yuan respectively; net profits will be 60.8387 million yuan, 122 million yuan, and 89.618 million yuan respectively; net profits after non-deductions will be respectively It is 58.1 million yuan, 79.3368 million yuan, and 81.09 million yuan.
Ganzhou Water Affairs' revenue in the first quarter of 2023 was 242 million yuan, with a net profit of 10.878 million yuan, and a net profit after deducting non-profits of 1.86 million yuan.
At the end of each reporting period, the book values of the company's accounts receivable were 81.7674 million, 170 million, 283 million and 318 million respectively, accounting for 13.91%, 20.96%, 30.65% and 32.88% of the operating income of each period respectively. At the end of 2022 and The larger increase in accounts receivable at the end of March 2023 was mainly due to the increase in water price compensation receivable from the Ganzhou Municipal Finance Bureau, as notified by the Ganzhou Municipal People's Government.
During the reporting period, the tax preferential amounts of Ganzhou Water Affairs were 20.6969 million yuan, 22.8216 million yuan, 27.3405 million yuan and 5.9557 million yuan respectively, accounting for 27.31%, 15.96%, 22.65% and 34.67% of the total profits in the same period respectively.
Municipal Public Utilities is the majority shareholder
Ganzhou Water Affairs is a wholly state-owned enterprise. Before this issuance, Municipal Public Utilities was the company's controlling shareholder, directly holding 75.59% of the company's shares.
Before the IPO, Nankang Urban Construction (SS) held 13.04% of the shares, Ganxian Urban Construction (SS) held 7.73%, and Shangyou Urban Construction (SS) held 3.64%.
After the IPO, Municipal Public Utilities (SS) held 56.69% of the shares, Nankang Urban Construction (SS) held 9.78%, Ganxian Urban Construction (SS) held 5.8%, and Shangyou Urban Construction (SS) held 2.73%.
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