Summary by Moomoo AI
As of September 30, 2024, china water reported its unaudited interim performance, with revenue at HKD 5.953 billion, a year-on-year decline of 13%. The profit attributable to equity holders for the period was HKD 0.756 billion, down 8.5% year-on-year; basic earnings per share were HKD 46.29 cents, maintaining an interim dividend of HKD 13 cents per share. Management pointed out that the decline in revenue was mainly due to a slowdown in construction business volume and related revenue. Revenues from urban water supply, pipeline direct drinking water supply, and eco-friendly concept segments decreased by 10.6%, 64.3%, and increased by 20.1%, respectively. The growth in the eco-friendly concept segment was mainly driven by new sewerage projects. Looking ahead, the group will continue to optimize its development strategy, reduce capital expenditure, and improve management and investment efficiency. Despite increasing market uncertainties, the group anticipates that the government's stimulus policies will aid in economic recovery and plans to enhance business performance through high-quality development.
