China Water Affairs Group Limited ("China Water Affairs" or the "Group"; stock code: 0855.HK) is pleased to announce that the Group was honourably presented with "Shenzhen-Hong Kong Stock Connect Best Investment Value Award" at the ¡§2017 China Financing Grand Award" nomination ceremony, hosted by ¡§China Financial Market¡¨ on 8 January 2018.
The ¡§China Financing Grand Award" was launched by ¡§China Financial Market¡¨, a renowned financial magazine in Hong Kong. The award aimed to select the most excellent exemplary listed companies on account of the companies¡¦ product quality and service performance in the preceding year. Meanwhile, the award also gave affirmation and recognition to the best performed and most potential listed companies, thereby, serving as a distinctive investment reference for investors at large.
As the only listed company committed to tap water supply business in Hong Kong, China Water Affairs commands an overall important strategic position in all subdivisions of water supply value chain, including raw water collection and filtration, tap water supply and sewage treatment, among other related value-added services. China Water Affairs has developed as one of the largest comprehensive water operators in mainland China with business coverage extending to more than 50 cities and its integrated water treatment capacity per day amounted to 13 million tonnes. In addition, China Water Affairs, enlisted as the first batch of ¡§Shenzhen-Hong Kong Stock Connect¡¨ targeted Company, foresaw rapid enhancement in popularity and visibility in the previous year. The Company was feverishly favoured by the southbound fund and the acquirer¡¦s equity interest climbed from approximately 2% to approximately 12%, from July 2017 until today. The share price soared subsequently, which brought about affluent returns to shareholders.
In the first half of the fiscal year 2017 to 2018, China Water Affairs accomplished remarkable sales performance over again, with total revenue amounted to HK$3.51 billion and gross profit amounted to HK$1.54 billion, an increase of 16.3% and 23.2%, respectively, for the same previous corresponding period; operating profit, after excluding the effect of one-off value gain on investment properties and derivative financial assets, amounted to HK$1.34 billion, a noticeable increase of 40.7% for the same previous corresponding period, which all became a vivid manifestation of the Group¡¦s strengthened core earning capability. For the same period under review, China Water Affairs¡¦ net profit reached HK$860 million, an increase of 27.6% for the same previous corresponding period; profit attributable to shareholders reached HK$540 million, an increase of 25.2% for the same previous corresponding period. The Group, thereby, has rewarded all its shareholders with satisfactory results performance.
In the meantime, starting from this fiscal year onwards, China Water Affairs has decided to increase its dividend payout ratio to not less than 30% of its basic earnings per share subject to the Group's financial performance and future funding needs, returning investors with step-up rewards for all their unwavering support.
As China Water Affairs was recently honoured with the 'Shenzhen-Hong Kong Stock Connect Best Investment Value Award', this fittingly reflected the high recognition that capital markets had for the Group¡¦s comprehensive strength and brand value. This award was also a testament to the support and expectations of both Hong Kong and mainland China¡¦s markets on China Water Affairs for its steadfast dedication to sustainable development and value enhancement. In the future, China Water will continually promote the development of water supply as its core business focus, and actively expand its market footprint on a nationwide scale, forging ahead to become a respectable player within the water supply industry while contributing constructively to the development of China's water market..
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About China Water Affairs Group Limited
China Water Affairs Group Limited is principally engaged in city water supply, sewage treatment and drainage, and related value-added businesses in the PRC. Currently, the Group¡¦s businesses cover over 50 cities in 3 municipalities of Beijing, Tianjin and Chongqing, and in 13 provinces including Guangdong, Jiangxi, Henan, Jiangsu, Hubei, etc. With a well-established cooperative relationship with various local government authorities, the Group has positioned itself in a leading position in China¡¦s water industry.
This press release is distributed by Wonderful Sky Financial Group Company Limited for China Water Affairs Group Limited.
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