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China Water Affairs Group (855)

Business description

China Water Affairs (CWA) is a pioneer in the privatisation of water supply assets in China. It seeks to create growth via volume/price increases and acquisitions. CWA is a constituent of the FTSE Environmental Opportunities Asia Pacific Index.

Stock data

Market cap.HK$13820.5m
Last closeHK$8.59
High / Low (52 weeks)HK$10.5 / HK$6.7
Stock market listingHK
Forecast net debt (HK$m)7978
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual11.7(5.6)19.8
Relative *9.3(5)31.7

* % Relative to local index

Other companies in sector Show

Company news

China Water Affairs Group Limited (HKG:855): What Is Driving Margins?

Wed, 10 Jan 2018 05:03:45 GMT

Stochastic RSI in Focus for China Water Affairs Group Ltd (0855.HK)

Sun, 15 Apr 2018 19:18:45 GMT

Targeted by Short Seller Muddy Waters, Man Wah Sinks

Wed, 07 Jun 2017 08:08:00 GMT

China to restructure foreign affairs team in push for greater role on world ...

Sat, 10 Mar 2018 11:01:58 GMT

Moody's: Chinese public-private partnerships are making steady progress

Mon, 23 Oct 2017 03:39:26 GMT

Y/E Mar Revenue (HK$m) EBITDA (HK$m) PBT (HK$m) EPS (c) P/E (x) P/CF (x)
2017A 5708.0 2646.0 1963.0 55.4 15.5 N/A
2018A 7580.0 3097.0 2462.0 71.8 12.0 N/A
2019E 8593.0 3644.0 2873.0 83.2 10.3 N/A
2020E 10002.0 4246.0 3415.0 98.4 8.7 N/A

Last updated on 13/12/2018

Investment summary

Interim results confirmed that China Water Affairs Group (CWA) continues to grow rapidly. We remain optimistic about CWA’s capacity to extend this growth trajectory and see the 50% increase in the interim dividend payment as evidence of management’s confidence in the outlook. In our view, the rating of the shares does not reflect the growth prospects.

Last updated on 13/12/2018

Industry outlook

Water supply in China remains fragmented. The central government encourages local governments to deleverage their own balance sheets with private–public partnerships. This trend remains positive for CWA.

Last updated on 29/11/2018

Key management

Duan Chuan Liang, Chairman
Ding Bin, Executive director
Liu Yu Jie, Executive director
Li Zhong, Executive director

Company address

Suite 6408, 64/F, Central Plaza
18 Harbour Road
Wanchai
Hong Kong
+852 3968 6666
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