Summary by Futu AI
China Water announced its annual performance on March 31, 2024, which showed that revenue decreased by 9.4% from HKD 1.4195 billion last year to HKD 1,285.85 million. The revenue from the company's direct drinking water supply business has increased by 50.6%, while the revenue from urban water supply management, urban water supply installation, and maintenance services has decreased by 5.8%. The annual profit also decreased by 17.4% from HKD 185.68 million last year to HKD 153.35 million, and earnings per share decreased from HKD 1.14 to HKD 0.94. The board of directors recommended a final dividend of 15 cents per share. In addition, the company signed a financing agreement with banks on November 3, 2022, withdrawing about USD 358 million for repayment and early repayment of loans, and improving its debt structure through refinancing. Looking forward, the company will continue to focus on core businesses and seize expansion opportunities for direct drinking water supply projects.