Abstract:An environmental protection enterprise was selected as a sample to comprehensively analyze the financial return from acquisition of a 10 billion CNY water treatment company; the changes in operating indicators and industrial influence brought by acquiring water assets were introduced; a comparison of input-output financial data was made between a water treatment project and a PPP construction project. Compared with investing in a PPP project, acquisition of a water treatment company can produce higher gross profit, higher profit margin and higher profit over the same period, but slightly lower sales revenue and longer payback period.