It declares an interim dividend of HK$0.0609 per ordinary share for the half year

 

[SINGAPORE] Dual-listed China Everbright Water : U9E 0% on Tuesday (Aug 12) posted net profit of HK$563.8 million (S$92.4 million) for the six months ended Jun 30, a decline of 3 per cent from HK$581.1 million in the year-ago period.  

 

The company declared an interim dividend of HK$0.0609 per ordinary share, unchanged from the interim dividend it declared for H1 2024. 

 

Its earnings per share (EPS) stood at HK$0.1971, down 3 per cent from an EPS of HK$0.2031 previously. 

 

For the half year, the water environmental management company&rsquo s revenue stood at HK$3.3 billion, 2 per cent lower than HK$3.4 billion in H1 2024. 

 

The top-line decline was driven in part by lower contributions from its construction service segment, which posted lower revenue at HK$1.2 billion, compared with HK$1.4 billion previously. This was partly offset by higher operation income, which rose to HK$1.5 billion from HK$1.3 billion. Finance income dropped slightly to HK$558.8 million, from HK$564.3 million. 

 

Gross profit margin rose by 4 percentage points on the year to 42 per cent, from 38 per cent. Gross profit was up 8 per cent at HK$1.4 billion, from HK$1.3 billion previously. 

 

Earnings before interest, taxes, depreciation and amortisation stood at HK$1.2 billion, largely unchanged from the same period last year. 

 

In H1 2025, the company secured several asset-light projects and service contracts, amounting to a contract value of around 60 million yuan (S$10.7 million). 

 

As at Jun 30, it had investments in and held 170 environmental protection projects, with a total investment of around 31.6 billion yuan. 

 

The company noted that it had faced industry pressures and challenges, amid a &ldquo volatile market environment&rdquo , for the six-month period. 

 

It added that it continued to realign its business strategy in H1 2025, and made progress in traditional and emerging business areas as well as asset-light and asset-heavy business models, while expanding its business within and outside mainland China. 

Xiong Jianping succeeds outgoing chief Tao Junjie, who has been at the helm for nearly four years

 

[SINGAPORE] Water environmental management company China Everbright Water has appointed Xiong Jianping, 46, as its chief executive officer and executive director. He succeeds Tao Junjie, 59, who stepped down from both positions.  

 

The company also announced on Thursday (Jul 24) the establishment of a sustainability committee under its environmental, social and governance (ESG) management. The committee will assess and make recommendations to the board on issues linked to the group&rsquo s sustainability and ESG performance, with Xiong as the chairman.

 

Xiong was previously general manager of the operation, safety and environmental management department of China Everbright Environment Group.

 

Tao was CEO for nearly four years, having been appointed in October 2021. He was previously general manager of the department of safety and environmental management at Everbright Environment and vice-president of China Everbright Water. 

 

China Everbright Water focuses on water environment management, including raw water protection and municipal waste-water treatment, and has a daily water treatment capacity of 7.6 million cubic metres. It operates in 13 provinces in China and also has a business presence in Mauritius.

A final dividend of HK$0.0581 per share has been proposed, payable on May 23

 

CHINA Everbright Water&rsquo s : U9E 0% net profit for the full year ended Dec 31 fell 14 per cent to HK$1 billion (S$175.5 million) from HK$1.2 billion in the previous corresponding period.

 

Earnings per share fell 14 per cent to HK$0.3564 from HK$0.4151, based on financials released by the Hong Kong and Singapore dual-listed environmental protection company on Tuesday (Feb 25).

 

Its board of directors have proposed a final dividend of HK$0.0581 per share, the same as the year-ago period. This is payable on May 23, following the record date of Apr 29.

 

This brings the total dividend for FY2024 to HK$0.119 per share, which is 4 per cent lower than the HK$0.1244 for FY2023.

 

Revenue for the full year inched up slightly by 2 per cent to HK$6.9 billion from HK$6.7 billion. Construction service revenue climbed 28 per cent on the year to HK$2.6 billion from HK$2.1 billion, on the back of higher construction activities.

 

Overall gross profit margin decreased to 38 per cent from 42 per cent in the prior year, and was attributed to an increase in the proportion of construction service revenue recognised within the total revenue for FY2024 compared to FY2023.

 

The environmental protection company noted that construction services have a lower gross profit margin than operating services and as a result, a larger proportion of construction service revenue would reduce the overall gross profit margin.

 

It also highlighted its healthy financial position, with &ldquo ready access to diversified financing channels&rdquo . As at end-December, its gearing ratio stood at 61 per cent, a slight increase from 60.7 per cent a year ago.

 

Looking ahead, Tao Junjie, executive director and chief executive of Everbright Water, said that the group &ldquo will closely align with China&rsquo s key national policies and guidelines&rdquo , with a focus on water-related areas.

He added that the group will drive endogenous growth by improving the quality and efficiency of existing assets. 

The notes have a maturity period of five years and include an interest rate option to be exercised by the company and a resale option to be exercised by noteholders at the end of the third interest-bearing year

 

CHINA Everbright Water has issued its first tranche of medium-term notes (MTNs) for 2025 with a principal amount of 1.5 billion yuan (S$279.6 million) and a 1.78 per cent coupon rate.

 

In a filing on Wednesday (Jan 8), the dual-listed environmental services group said that the first tranche of the 2025 MTNs comes with a maturity period of five years.

 

It includes an interest rate option to be exercised by the company, and a resale option to be exercised by noteholders at the end of the third interest-bearing year.

 

This has &ldquo set a record low interest rate for all the panda bonds with a three-year maturity period issued in the market&rdquo , said the company.

 

It noted that the latest MTN exercise was fully subscribed at a rate of 3.52 times by institutional investors at China&rsquo s national inter-bank bond market.

 

This &ldquo underscores the market&rsquo s continued confidence and support in (the company&rsquo s) growth prospects&rdquo , added China Everbright.

 

Proceeds from the first tranche of 2025 MTNs will be used to replenish working capital of the company. The notes have been given an &ldquo AAA&rdquo credit rating by Shanghai Brilliance Credit Rating & Investors Service.

 

Everbright Securities Company acted as the deal&rsquo s lead underwriter and bookrunner. China Merchants Bank, China Zheshang Bank, Industrial Bank, Bank of Ningbo and China Bohai Bank were the joint lead underwriters.

 

In December 2024, the company completed the registration of multiple types of debt financing instruments in a principal amount of eight billion yuan. It received approval to issue these instruments in multiple tranches to institutional investors, in the form of super short-term commercial papers, medium-term notes, perpetual notes and more.

 

The company also said that it will &ldquo strengthen its financing portfolio&rdquo through a range of short and long-term instruments, to provide &ldquo stable and flexible capital support&rdquo for its operations and development.

The notes have a maturity period of five years and include an interest rate option to be exercised by the company and a resale option to be exercised by noteholders at the end of the third interest-bearing year

 

CHINA Everbright Water has issued its first tranche of medium-term notes (MTNs) for 2025 with a principal amount of 1.5 billion yuan (S$279.6 million) and a 1.78 per cent coupon rate.

 

In a filing on Wednesday (Jan 8), the dual-listed environmental services group said that the first tranche of the 2025 MTNs comes with a maturity period of five years.

 

It includes an interest rate option to be exercised by the company, and a resale option to be exercised by noteholders at the end of the third interest-bearing year.

 

This has &ldquo set a record low interest rate for all the panda bonds with a three-year maturity period issued in the market&rdquo , said the company.

 

It noted that the latest MTN exercise was fully subscribed at a rate of 3.52 times by institutional investors at China&rsquo s national inter-bank bond market.

 

This &ldquo underscores the market&rsquo s continued confidence and support in (the company&rsquo s) growth prospects&rdquo , added China Everbright.

 

Proceeds from the first tranche of 2025 MTNs will be used to replenish working capital of the company. The notes have been given an &ldquo AAA&rdquo credit rating by Shanghai Brilliance Credit Rating & Investors Service.

 

Everbright Securities Company acted as the deal&rsquo s lead underwriter and bookrunner. China Merchants Bank, China Zheshang Bank, Industrial Bank, Bank of Ningbo and China Bohai Bank were the joint lead underwriters.

 

In December 2024, the company completed the registration of multiple types of debt financing instruments in a principal amount of eight billion yuan. It received approval to issue these instruments in multiple tranches to institutional investors, in the form of super short-term commercial papers, medium-term notes, perpetual notes and more.

 

The company also said that it will &ldquo strengthen its financing portfolio&rdquo through a range of short and long-term instruments, to provide &ldquo stable and flexible capital support&rdquo for its operations and development.