TIANYE WATER (00840) announced its interim results for 2025, with total operating revenue of approximately RMB 320 million, representing a decline of about 68.55% year-on-year. The net loss attributable to shareholders reached RMB 15.621 million, turning from profit to loss compared to the same period last year. Basic loss per share was approximately RMB 0.030. According to the announcement, the decline in total operating revenue was primarily due to significant changes in market conditions and government policy adjustments this year, which led to a substantial reduction in high-standard farmland construction projects. This resulted in a sharp decline in the company's PVC pipe product sales and a corresponding decrease in engineering business revenue.