Gelonghui, May 5 | Bank of America Securities issued a report stating that Beijing Holdings Water (0371.HK) reported net profit of 2.9 billion yuan this year, operating revenue increased 15% year over year, and free cash flow reached balance of payments. The bank said that the company promised a flat dividend per share this year, which means that the dividend rate will reach 7.5%. The bank expects the dividend to be sustainable, as free cash flow is expected to balance or even correct from fiscal year 2023. The bank lowered the company's earnings measurement per share by 41% to 43% from 2023 to 24, while lowering its target price from HK$4.2 to HK$3.4, maintaining its rating as “buy”. The stock is currently reported at HK$2.14, with a total market value of HK$21.5 billion.