China Water Group Limited announced its interim results for the six months ended September 30, 2024. During the period, revenue decreased by 13% to HKD 5.953 billion, mainly due to a slowdown in construction business volume and a decline in related construction revenue. The net profit attributable to shareholders dropped by 8.5% to HKD 0.756 billion. The basic earnings per share were HKD 46.29. The Board of Directors declared an interim dividend of HKD 0.13 per share.The total revenue of the group's urban water supply, piped drinking water supply, and Eco-friendly Concept segments decreased by 16.6% to HKD 4.898 billion, mainly due to an overall reduction in installation and maintenance projects as well as construction projects. The urban water supply segment's revenue decreased by 10.6% to HKD...Show More

China Water Group Limited announced its interim results for the six months ended September 30, 2024. During the period, revenue decreased by 13% to HKD 5.953 billion, mainly due to a slowdown in construction business volume and a decline in related construction revenue. The net profit attributable to shareholders dropped by 8.5% to HKD 0.756 billion. The basic earnings per share were HKD 46.29. The Board of Directors declared an interim dividend of HKD 0.13 per share.The total revenue of the group's urban water supply, piped drinking water supply, and Eco-friendly Concept segments decreased by 16.6% to HKD 4.898 billion, mainly due to an overall reduction in installation and maintenance projects as well as construction projects. The urban water supply segment's revenue decreased by 10.6% to HKD 3.765 billion, with profit decreasing by 5.4% to HKD 1.14 billion. The piped drinking water supply segment saw a significant revenue decrease of 64.3% to HKD 0.367 billion, with profit dropping by 50.3% to HKD 0.167 billion. The Eco-friendly Concept segment's revenue grew by 20.1% to HKD 0.766 billion, with profit increasing by 12.7% to HKD 0.283 billion, primarily driven by new Sewerage projects.The company stated that core business performance is solid and generates stable cash flow, demonstrating strong resilience. In the future, it will continue to optimize development strategy, enhance project management, focus on project returns, and prioritize projects that can yield the best returns. At the same time, the company will seize opportunities arising from water price adjustments and declining interest rates to promote improvements in business quality and reasonable growth.