(21 October 2018, Hong Kong) China Water Affairs Group Limited (“China Water Affairs” or the “Company”; stock code: 00855.HK), a leading integrated water services operator in China, is pleased to announce that the Company was presented the Best Performing Stock Award at the 2018 Golden Wing Award Presentation Ceremony hosted by Securities Times for the Most Valuable Stocks under the Hong Kong Stock Connect Scheme. This showcases that China Water Affairs’ investment value has been widely recognized in capital market.
The 2018 Golden Wing Award for the Most Valuable Stocks under the Hong Kong Stock Connect Scheme was organized by Securities Times, a leading financial media in China. It was aimed at commending outstanding listed companies under the Hong Kong Stock Connect Scheme, promoting their brands in Hong Kong and Chinese capital markets, and facilitating in-depth cooperation and interaction between both markets.
The members of the award judging panel are comprised of senior management and analysts from major investment institutions and research institutes as well as seasoned members from major financial media. They picked the award winners by evaluating a number of indicators of qualified listed companies under the Hong Kong Stock Scheme (including their revenues, the growth rates of net profits, stock turnover rates, the return of invested capital) in conjunction with online poll results.
Underpinned by robust growth in its core water business, the Company achieved revenue of approximately HK$7,580 million for the fiscal year of 2017/18, representing a significant growth of 32.8% year-on-year. Meanwhile, profit attributable to owners of the Company for the period surged by 33.6% year-on-year to HK$1,141 million. Excluding the fair value gain on investment properties and the changes in fair value of derivative financial assets, its recurring operating profit would be approximately HK$2,718 million, up 37.5% year-on-year. These results reflected that the Company’s core operations have grown briskly. In order to give back to shareholders for their long-term support, the Company paid out a total dividend of HK 23 cents per share for the fiscal year of 2017/18, up 1.3 times when compared with total dividends of HK 10 cents per share for the previous fiscal year (excluding special dividends of HK 10 cents).
Looking ahead, the Company will grasp unprecedented opportunities arising in water services by accelerating the development and acquisition of water businesses, optimizing its business layout and prudently carrying out city environmental service businesses, including water environment management, sanitation and cleaning, solid waste and hazardous waste treatment, thereby creating greater synergies among its operations, delivering better services to the community and the public, and creating greater investment value to shareholders.
