Summary by Futu AI
China Water Group Limited (“China Water Services”) announced its interim report for the six months ended 30 September 2023, showing that total revenue increased slightly from HK$6,785,200,000 to HK$6,846,000,000 for the same period in 2022, an increase of 0.9%. The Company's main businesses include urban water supply, piped direct drinking water supply and environmental protection, where revenues from the piped direct drinking water supply business increased significantly from HK$394,300,000 to HK$1,027,400,000. Revenue from the general contracting construction and property development business declined. During the period, the Company maintained an ideal liquidity level with cash and cash equivalents and collateralized deposits amounting to approximately HK$5,838,000,000. The company will continue to deepen cooperation with existing banks in the future and improve its debt structure by refinancing short-term loans into long-term loans. The company also plans to separate its urban water supply and piped direct drinking water business to enhance the company's value.