China Water Affairs’ interim results are expected to achieve turnaround

12/10/2009 12:16:11  

(October 7, 2009 - Hong Kong) China Water Affairs Group Limited (“China Water Affairs” or the “Company”, together with its subsidiaries collectively referred to as the “Group”; stock code: 00855.HK), one of the largest integrated water services operators in China, announced that after a preliminary review of the management accounts of the Group, the Board expected that the unaudited interim results of the Group for the six months ended September 30, 2009 will record a profit. The Group made a loss of approximately HK$172 million for the corresponding period in 2008.
 
Based on the information currently available, the Board believes that such profit would be mainly attributable to (i) the stable growth of the Group’s core businesses and (ii) a net unrealized gain on the fair value changes on the financial assets consisting mainly of listed equity investments and convertible bonds as compared to a significant net unrealized loss which adversely affected the corresponding interim results of the Group last year.
 
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About China Water Affairs Group Limited
China Water Affairs Group Limited is one of the largest integrated water services operators in China. Its shares are traded on the Main Board of The Stock Exchange of Hong Kong Limited. The Company invests, builds and operates water projects in China, providing raw water, tap water, hydroelectric power, sewage treatment and related value-added services.
 
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PRChina Limited
Jane Liu
Tel: 852- 2522 1838
 
PRChina Limited
David Shiu / Henry Chik
Tel: 852- 2522 1368

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