同时，部份地区供水调价申请已通过听证会，包括贵州、湖北、河南三个项目，另外超过20个城市也已启动调价程序。中泰国际预期，集团FY25-27供水运营收入将持续增长。此外，公司期望资本开支由FY24的53.3亿元分别下降至FY25-26的约36亿及20亿元，上调目标价由6.10港元提升至6.23港元，维持“买入”评级。China Water (00855) rose nearly 5%, as of the time of writing, up 4.74%, priced at 4.64 HKD, with a trading volume of 18.1446 million HKD.
According to Zhitong Financial APP, China Water (00855) rose nearly 5%, as of the time of writing, up 4.74%, priced at 4.64 HKD, with a trading volume of 18.1446 million HKD.
In terms of news, China Water recently released its interim results for the six months ending September 30, 2024, with revenue of approximately 5.953 billion HKD; profit for the period of 1.238 billion HKD; profit attributable to owners of the company of 0.756 billion HKD; earnings per share of 46.29 HKD cents, and a proposed interim dividend of 13 HKD cents per share. Zhongtai International pointed out that the FY25 interim results of China Water exceeded expectations, with operating income up 16.6% year-on-year to 2.24 billion yuan, and gross margin also increased by 1.5 percentage points year-on-year to 38.4%.
At the same time, applications for water price adjustments in some regions have passed the hearings, including projects in Guizhou, Hubei, and Henan, in addition to over 20 other cities that have launched price adjustment procedures. Zhongtai International expects that the group's FY25-27 water supply operating income will continue to grow. Furthermore, the company expects capital expenditures to decrease from 5.33 billion yuan in FY24 to approximately 3.6 billion and 2 billion yuan in FY25-26 respectively, raising the target price from 6.10 HKD to 6.23 HKD, maintaining a "buy" rating.
