On November 29, Glonghui reported that China Water (00855.HK) announced its interim results for the six months ended September 30, 2024, with company revenue at 5.953 billion HKD, a year-on-year decrease of 13.0%; the shareholder's profit for the period was 0.756 billion HKD, a year-on-year decrease of 8.5%; basic earnings per share were 46.29 HK cents, and an interim dividend of 13 HK cents per share is proposed.
The group optimizes its development strategy to strengthen project management of its core business. The group focuses more on project returns and prioritizes projects that can bring the best returns in resource allocation, which has led to a slowdown in construction business volume and a decline in related construction revenue. During the review period, the total revenue of the 'urban water supply', 'direct drinking water supply', and 'eco-friendly concept' segments decreased from 5.875 billion HKD to 4.898 billion HKD, representing a 16.6% reduction in segment revenue, mainly due to the overall decrease in installation, maintenance, and construction projects in the 'urban water supply', 'direct drinking water supply', and 'eco-friendly concept' segments during the period.
