(19 October 2018, Hong Kong) China Water Affairs Group Limited (ˇ§China Water Affairsˇ¨ or the ˇ§Companyˇ¨; stock code: 00855.HK), a leading integrated water services operator in China, is pleased to announce that the Company was named the Best Performing Stock under the Hong Kong Stock Connect Scheme in the 2018 Golden Wing Most Valuable Companies Competition organized by Securities Times.
The 2018 Golden Wing Best Performing Stock Competition was organized by Securities Times, a leading financial media in China. It was aimed at commending outstanding listed companies under the Hong Kong Stock Connect Scheme, promoting their brands in Hong Kong and Chinese capital markets, and facilitating in-depth cooperation and interaction between both markets.
As the only listed company specializing in tap water supply business in Hong Kong, China Water Affairs plays a strategically important role in every parts of water supply value chain, including raw water, tap water supply, sewage treatment and related value-added services. It has evolved to be one of the largest integrated water services operators in Mainland China, providing services to nearly 60 cities with aggregate handling capacity of more than 13 million tonnes per day. After being included in the first batch of eligible stocks under the ˇ§Shenzhen-Hong Kong Stock Connect Schemeˇ¨, the Company has received increasing attention from the market players in Mainland China over the past year. Underpinned by growing south-bound investments, the shareholding of mainland investors in the Company has increased to over 12%.
Underpinned by robust growth in its core water business, the Company achieved revenue of approximately HK$7,580 million for the fiscal year of 2017/18, representing a significant growth of 32.8% year-on-year. Meanwhile, profit attributable to owners of the Company for the period surged by 33.6% year-on-year to HK$1,141 million. Excluding the the fair value gain on investment properties and the changes in fair value of derivative financial assets, its recurring operating profit would be approximately HK$2,718 million, up 37.5% year-on-year. These results reflected that the Companyˇ¦s core operations have grown briskly. In order to give back to shareholders for their long-term support, the Company paid out a total dividend of HK 23 cents per share for the fiscal year of 2017/18, up 1.3 times when compared with total dividends of HK 10 cents per share for the previous fiscal year (excluding special dividends of HK 10 cents).
The receiving of the honour of ˇ§Best Performing Stock under the Hong Kong Stock Connect Scheme in Golden Wing Awardˇ¨ showcased that China Water Affairsˇ¦ investment value has been widely recognized in capital market. Looking ahead, the Company will grasp unprecedented opportunities arising in water services by accelerating the development and acquisition of water businesses, optimizing its business layout and prudently carrying out city environmental service businesses, including water environment management, sanitation and cleaning, solid waste and hazardous waste treatment, thereby creating greater synergies among its operations, delivering better services to the community and the public, and creating greater investment value to shareholders.
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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 Groupˇ¦s businesses cover about 60 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 Chinaˇ¦s water industry.
This press release is issued by PRChina Limited on behalf of China Water Affairs Group Limited.
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