DBS released a research report that maintained the "buy" rating of China Water (00855), raising the target price from HK $9.50 to HK $10.40, Zhitong Financial APP learned. As of 10:14, it rose 5.62% to HK $7.70, with a turnover of 17.2273 million.

It is reported that net profit attributable to shareholders in 022 rose 12 per cent year-on-year to HK $1.89 billion, while revenue rose 25 per cent, mainly driven by water supply (up 21 per cent), environmental protection (up 4 per cent) and other sectors (up 212 per cent).

The bank noted that the company's new direct drinking water business increased significantly by about 440 per cent year-on-year to HK $143 million, which prepared the company to split the water supply business from the direct drinking water business. In addition, the company will increase its dividend per share by about 10% to HK $0.34, which is a reliable option for dividend growth investors.