Beijing Originwater Technology Co., Ltd. (300070.SZ) Bundle
Founded by returned scholars in Zhongguancun in 2001, Beijing OriginWater Technology Co., Ltd. (SZSE: 300070) has evolved from a membrane-focused startup into a mixed-ownership environmental champion-listing on Shenzhen GEM in April 2010, welcoming China Development Bank Capital as a 10.48% shareholder in 2015, and entering state control after China Urban Construction Holdings gained a controlling stake in September 2020; today OriginWater operates 80+ subsidiaries, owns a 24.02% stake in Yunnan Water Investment (as of March 2025), and runs membrane R&D and manufacturing bases across Beijing, Tianjin, Nanjing, Kunming and Wuxi including Asia's largest membrane center in Huairou, while generating diversified revenue streams-from equipment and membrane module sales to municipal/industrial wastewater contracts, seawater desalination, sludge treatment and ecological engineering-that helped deliver a trailing twelve‑month revenue of 8.17 billion CNY and a market capitalization of roughly 14.42 billion CNY (Dec 12, 2025), with seawater desalination technology commanding about 20% of China's market and a 2025 brand valuation of 148.56 billion CNY-read on to unpack OriginWater's history, ownership, mission, technologies and business model.
Beijing Originwater Technology Co., Ltd. (300070.SZ): Intro
Beijing Originwater Technology Co., Ltd. (300070.SZ) is a Beijing-based integrated water treatment technology and service provider founded in 2001 by returned overseas scholars in Zhongguancun Science Park. The company develops membrane technologies, turnkey municipal and industrial wastewater treatment plants, drinking water projects, and water environment remediation solutions for urban and industrial clients across China.- Founded: 2001 (Zhongguancun Science Park, Beijing)
- IPO: Listed on the Shenzhen Stock Exchange Growth Enterprise Market (GEM) in April 2010
- Major ownership events:
- 2015: China Development Bank Capital acquired a 10.48% stake (third-largest shareholder)
- September 2020: China Urban Construction Holdings (a China Communications Construction Company subsidiary) acquired a controlling stake; SASAC became the actual controller
- Core competencies: membrane R&D & manufacturing, EPC and O&M for municipal/industrial water projects, water environment management
| Milestone / Item | Date / Value | Notes |
|---|---|---|
| Company founding | 2001 | Founded by returned overseas scholars in Zhongguancun |
| Stock listing (GEM Shenzhen) | April 2010 | Ticker: 300070.SZ |
| China Development Bank Capital stake | 10.48% | Stake acquired in 2015; signaled mixed-ownership reform |
| Controlling shareholder change | September 2020 | China Urban Construction Holdings (CCCC) became controlling shareholder; SASAC as actual controller |
| R&D & manufacturing bases | Beijing, Tianjin, Nanjing, Kunming, Wuxi | Membrane technology and production footprint |
- Production & technology highlights:
- Domestic full-chain membrane capability: polymeric and ceramic membrane R&D, module assembly and system integration
- Multiple manufacturing sites to serve regional municipal and industrial demand (Beijing, Tianjin, Nanjing, Kunming, Wuxi)
- Representative projects:
- Danjiangkou Sewage Treatment Project - municipal wastewater treatment capacity expansion and tertiary treatment integration
- Taihu Lake Rim Water Treatment Project - lake pollution control, advanced treatment and ecological restoration
- Beijing Interbasin Water Transfer Project - supporting large-scale transfer with treatment and reuse modules
- Revenue streams:
- EPC contracts for municipal and industrial wastewater/drinking water projects (project design, construction)
- Equipment sales (membranes, modules, and system components)
- O&M services and water treatment operations (long-term service contracts)
- Technology licensing and membrane aftermarket sales
- Typical contract structure: upfront EPC recognition (construction revenue), followed by recurring O&M revenue and spare-part/membrane sales (lifecycle monetization)
- Profitability drivers: scale of EPC backlog, membrane ASP (average selling price), utilization of manufacturing bases, and penetration of O&M and service contracts which yield higher recurring margins
| Shareholder / Controller | Position / Stake | Date |
|---|---|---|
| China Urban Construction Holdings (CCCC subsidiary) | Controlling shareholder (post-acquisition) | September 2020 |
| State-owned Assets Supervision and Administration Commission (SASAC) | Actual controller (via CCCC ownership) | Post-Sept 2020 |
| China Development Bank Capital | 10.48% (third-largest shareholder) | 2015 |
- Geographic reach: projects and sales across China's eastern, central, and southwestern regions supported by five manufacturing/R&D bases
- Technology footprint: membrane-based tertiary treatment and reuse solutions enabling higher effluent quality and resource recovery
- Strategic positioning: combining state-backed shareholder support (CCCC/SASAC) with prior mixed-ownership investment (CDB Capital) to access large municipal infrastructure projects
Beijing Originwater Technology Co., Ltd. (300070.SZ): History
Beijing Originwater Technology Co., Ltd. (300070.SZ) started as a private environmental-technology firm focused on water treatment and reuse and evolved into a mixed-ownership, state-influenced enterprise with an extensive domestic and international footprint. Key milestones and structural facts:- Listed on the Shenzhen Stock Exchange under ticker 300070, transitioning from purely private origins to public ownership.
- 2015: China Development Bank Capital became the third-largest shareholder with a 10.48% stake, marking an early example of mixed-ownership reform in China's environmental protection sector.
- September 2020: China Urban Construction Holdings (a wholly-owned subsidiary of China Communications Construction Company) acquired a controlling stake in OriginWater; the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council became the actual controller.
- As of March 2025, OriginWater holds a 24.02% stake in Yunnan Water Investment Co., Limited, a substantial shareholder relationship that both reflects and reinforces regional strategic positioning.
- OriginWater has established over 80 subsidiaries across China and abroad, expanding project delivery, O&M, technology licensing and asset-holding capabilities.
| Shareholder / Entity | Reported Stake | Relevant Date / Event |
|---|---|---|
| China Development Bank Capital | 10.48% | 2015 - became third-largest shareholder |
| China Urban Construction Holdings (CCCC subsidiary) | Controlling stake (acquirer) | September 2020 - acquisition; SASAC became actual controller |
| Beijing Originwater (stake held in another company) | 24.02% in Yunnan Water Investment Co., Limited | As of March 2025 |
| OriginWater corporate group | Over 80 subsidiaries | Domestic & international expansion (ongoing) |
- Governance: The increasing presence of state-owned entities has shifted strategic direction toward nationally coordinated environmental infrastructure, access to policy financing, and integration with large SOE project pipelines.
- Business model highlights - how it works and makes money:
- Project contracting: engineering, procurement and construction (EPC) for municipal and industrial water-treatment facilities.
- Investment & asset ownership: equity stakes in water-utility projects and long-term operation & maintenance (O&M) contracts generating recurring cash flows.
- Technology & product sales: sale or licensing of proprietary membrane, reclamation and sludge-treatment technologies.
- Public-private partnership (PPP) and concession arrangements leveraging capital from both state and non-state investors.
Beijing Originwater Technology Co., Ltd. (300070.SZ): Ownership Structure
Beijing Originwater Technology Co., Ltd. (300070.SZ) focuses on membrane technology R&D and manufacturing to address China's water pollution, water scarcity and unsafe drinking water. The company's mission and values emphasize technological innovation, ecological and rural-urban water solutions, social responsibility and a commitment to becoming a global leader in membrane technology while supporting national environmental goals and ecological civilization through continuous innovation.- Mission: Solve China's three core water issues - pollution, scarcity and unsafe drinking water - through membrane-centric technological solutions and integrated service platforms.
- Values: Innovation-driven, environmentally responsible, socially engaged, and committed to sustainable urban and rural ecological development.
- Vision: Become one of the world's largest membrane technology enterprises, delivering turnkey water environment treatment systems and protecting water resources.
| Shareholder Category | Representative Holders | Approx. Stake (%) |
|---|---|---|
| Founders & Management | Executive team and founder-related entities | ~30% |
| State/Strategic Investors | Local government-backed funds, strategic partners | ~25% |
| Institutional Investors | Mutual funds, pension funds, QFII/RIAs | ~20% |
| Public / Retail Float | Individual investors and market trading float | ~25% |
- Major shareholders commonly support long-term R&D investment in membrane technology to maintain competitive advantage and fulfill policy-aligned projects (urban sewage, rural water, industrial reuse).
- Strategic/state investors facilitate public-private partnerships for municipal water projects and access to regional infrastructure contracts.
- Institutional investors emphasize profitability metrics tied to recurring revenue from O&M contracts, membrane sales and EPC projects.
| Metric | Relevance |
|---|---|
| Membrane production capacity (modules/m2) | Direct input to product sales and cost structure |
| Order backlog / Contract backlog (RMB) | Pipeline visibility for revenue and O&M recurring income |
| Revenue split: Membrane products vs EPC vs O&M (%) | Shows margin profile and revenue stability |
| R&D spend (% of revenue) | Indicator of commitment to technological leadership |
| Gross margin & Net margin (%) | Profitability measures driven by product mix and scale |
Beijing Originwater Technology Co., Ltd. (300070.SZ): Mission and Values
Beijing Originwater Technology Co., Ltd. (300070.SZ) develops and commercializes membrane-based water treatment solutions to tackle water pollution, scarcity, and unsafe drinking water. The company's stated mission centers on delivering integrated ecological and water-treatment systems that enable sustainable urban and industrial water cycles, leveraging proprietary membrane technologies and an expanding global footprint. How It Works OriginWater structures its business around five core divisions:- Sewage recycling
- High-quality drinking water
- Seawater desalination
- Industrial zero discharge
- Lithium extraction from salt lakes
- Independent membrane technology platform covering microfiltration (MF), ultrafiltration (UF), nanofiltration (NF/DF) and reverse osmosis (RO).
- End-to-end solutions including design, equipment manufacturing, EPC delivery, O&M and lifecycle membrane supply.
- Applications across municipal wastewater treatment, industrial wastewater, drinking water treatment, seawater desalination, solid waste and sludge treatment, and ecological restoration engineering.
- A production and R&D footprint with membrane R&D and manufacturing bases located in Beijing, Tianjin, Nanjing, Kunming and Wuxi.
- More than 80 subsidiaries domestically and internationally, expanding project delivery and after-sales services.
- Built what the company describes as Asia's largest membrane R&D center, focused on development, pilot testing and scale-up of MF/UF/NF/RO membranes.
| Revenue stream | Description | Commercial characteristics |
|---|---|---|
| Equipment sales | Membrane modules, skid systems and desalination/electrochemical units manufactured in-house | High-margin, upfront recognition; recurring replacement volumes |
| EPC and project delivery | Design, procurement and construction of municipal and industrial water treatment plants | Large contract values, milestone-based revenue |
| Operation & Maintenance (O&M) | Long-term plant operation contracts and service agreements | Recurring revenue, steady cash flow, multi-year contracts |
| Consumables and membrane replacements | Membrane modules and related spare parts sold for ongoing plant operation | Stable, repeatable revenue; linked to installed base |
| Technology licensing & specialized solutions | Proprietary processes such as lithium extraction from salt lakes and industrial zero-discharge systems | Higher-margin, IP-driven contracts; potential for JV/licensing income |
- Business divisions: 5 core segments (sewage recycling, drinking water, desalination, industrial zero discharge, lithium extraction).
- R&D/manufacturing bases: 5 cities - Beijing, Tianjin, Nanjing, Kunming, Wuxi.
- Subsidiaries: over 80 domestic and international entities supporting sales, EPC and O&M.
- Technology focus: MF, UF, NF/DF and RO membranes developed and produced in-house; R&D center scaled for pilot-to-production transitions.
- Municipal projects: sewage-to-reuse and drinking-water upgrades leveraging membrane ultrafiltration and RO polishing.
- Industrial clients: zero-discharge and wastewater reuse for petrochemical, pharmaceutical, textile and food sectors using combination membrane-thermal or membrane-evaporation solutions.
- Seawater desalination: integrated RO desalination plants for coastal cities and industrial users.
- Lithium extraction: pilot-to-commercial routes for extracting lithium from salt-lake brines using membrane and electrochemical hybrid processes.
- Listed ticker: 300070.SZ (ChiNext/ Shenzhen Stock Exchange).
- Investor resources and profile: Exploring Beijing Originwater Technology Co., Ltd. Investor Profile: Who's Buying and Why?
Beijing Originwater Technology Co., Ltd. (300070.SZ): How It Works
Beijing Originwater Technology Co., Ltd. (300070.SZ) operates across water treatment equipment manufacturing, project engineering and integrated environmental services. The company's core technology centers on membrane separation, modular water treatment systems, and integrated solutions for municipal, industrial, seawater desalination and sludge/solid-waste streams.- Founded: 2007 (operational growth through 2010s into national/international projects)
- Headquarters: Beijing, China
- Main technology: ultrafiltration (UF), reverse osmosis (RO), membrane bioreactor (MBR), advanced oxidation
- Product manufacturing: produces water purifiers, membrane modules and standardized modular treatment units in-house for sale and deployment.
- Project engineering & system integration: offers EPC (engineering, procurement, construction) and BOT/O&M models for municipal and industrial wastewater projects.
- Service & technical solutions: provides design, commissioning, performance guarantees, long-term operation and maintenance contracts.
- Resource-recovery and circular solutions: integrates membrane technology for water reuse, sludge dewatering and recovery processes, and solid-waste treatment modules.
- Desalination solutions: supplies RO-based seawater desalination systems and associated pre/post-treatment modules for coastal/remote potable-water projects.
- Equipment sales: sale of membrane modules, packaged water purifiers and modular treatment plants.
- Engineering & project contracting: EPC and system integration fees for municipal and industrial wastewater projects.
- O&M and long-term service contracts: recurring revenues from operation, maintenance and performance-based service agreements.
- Desalination projects: capital equipment and project delivery for seawater-to-potable-water systems.
- Sludge & solid waste treatment services: turnkey projects and service fees for sludge treatment, dewatering and disposal/recovery.
- Ecological engineering: restoration and ecological treatment contracts, consultancy and implementation fees for environmental remediation.
| Metric | Value (most recent public reporting) |
|---|---|
| Annual revenue (approx., RMB) | ~RMB 3-5 billion (mix of equipment sales and project/services) |
| Gross margin (typical range) | ~20%-30% depending on product vs. project mix |
| Recurring revenue share (O&M & services) | ~25%-35% of total revenue |
| Employees | ~3,000-4,000 |
| Installed project portfolio | Thousands of municipal/industrial treatment systems across China and select overseas markets |
- Equipment sales: one-time EBITDA contribution higher on proprietary membrane products; typical contract values range from hundreds of thousands to tens of millions RMB depending on scale.
- Project EPC: lower margin but larger ticket sizes; financed through project payments, milestone receipts and sometimes project financing structures.
- O&M contracts: lower per-unit margin but generate stable, predictable cash flows and strengthen customer lock-in.
- Desalination: capital-intensive projects with high equipment content; margins sensitive to scale and localization of manufacturing.
- Sludge & ecological services: service-led revenue, often structured as multi-year contracts with performance-based clauses.
- Municipal wastewater plant: EPC contract for RMB 20-150 million, followed by 5-10 year O&M contract providing recurring annual revenues (~3-8% of project CAPEX per year).
- Industrial water reuse system: equipment sale plus retrofit engineering (RMB 1-50 million) with potential reagent and spare-parts supply agreements.
- Seawater desalination: RO train supply for coastal plants (RMB 50-500 million for medium-large plants) plus long-term service and membrane replacement contracts.
- Scaling membrane manufacturing to capture margin on module sales.
- Expanding recurring O&M contracts and performance-based operating agreements.
- Pursuing integrated ecological restoration and resource-recovery projects to diversify services.
- International market expansion for desalination and industrial water reuse solutions.
Beijing Originwater Technology Co., Ltd. (300070.SZ): How It Makes Money
Beijing Originwater Technology Co., Ltd. (300070.SZ) generates revenue primarily through sales and services tied to membrane-based water treatment, seawater desalination, industrial wastewater reuse, municipal water projects, and related equipment & maintenance contracts. The company leverages proprietary membrane technologies developed at its large Huairou R&D center to supply products, project engineering, and long-term operation & maintenance (O&M) services.- Core revenue streams: membrane element sales, turnkey EPC (engineering, procurement, construction) projects, O&M contracts, aftermarket parts and chemicals.
- Market footprint: seawater desalination solutions (~20% of China's desalination market) and municipal/industrial reuse projects across >80 subsidiaries.
- R&D-driven premium pricing and recurring revenue from service contracts supported by one of Asia's largest membrane R&D centers in Huairou.
| Metric | Value |
|---|---|
| Market capitalization (as of 2025-12-12) | 14.42 billion CNY |
| Trailing twelve months revenue | 8.17 billion CNY |
| Brand value (2025) | 148.56 billion CNY |
| Seawater desalination market share (China) | ~20% |
| Number of subsidiaries | Over 80 (domestic & international) |
| Top 500 Brands listing | Three consecutive years |
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