Is Heze Shuifa Group Co., Ltd. a state-owned enterprise?

Yes. Heze Water Development Group Co., Ltd. was formerly a platform company under the Shandong Provincial Department of Water Resources. It was approved by the provincial government in 2009 and placed under the unified supervision of the Provincial State-owned Assets Supervision and Administration Commission in 2017. It is a first-level state-owned wholly-owned enterprise in Shandong Province. Shuifa Group, headquartered in Jinan, has total assets of 170 billion yuan and 30,000 employees. The group's development focuses on the fields of "ecology, environmental protection, and people's livelihood". Its business covers four major sectors: water conservancy development, modern agriculture, environmental protection, and clean energy. It has formed three provincial-level platforms and clean energy industry clusters for water affairs, agriculture, and environmental protection. It owns three main board listed companies, Shuifa Gas, Shuifa Xingye Energy, and Xingye New Materials. Its business covers the country and some countries along the “One Belt and One Road”.