公司名稱: 中國水務集團有限公司 呈交日期: 2025年12月1日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00855 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,626,712,346 | | 5,610,000 | | 1,632,322,346 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 1,626,712,346 | | 5,610,000 | | 1,632,3 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - The company reported a revenue of HKD 5.183 billion for FY2026H1, a year-on-year decrease of 12.9%. Gross profit was HKD 1.827 billion, down 20.1%, and net profit attributable to shareholders was HKD 571 million, a decline of 24.4%. The interim dividend per share remained flat at HKD 0.13 [2][6]. - The core operating business remains stable, although the installation, maintenance, and construction segments, along with property business, have seen declines, impacting overall profitability. The company has shown signs of a turning point in free cash flow, indicating potential for future dividend increases [2][9]. Business Segment Analysis - **Urban Water Supply**: Revenue decreased by 13.1% to HKD 3.27 billion, with segment profit down 17.4% to HKD 941 million. However, core water supply service revenue increased by 4.5% to HKD 1.801 billion, driven by a 5% increase in water sales. The completion of water price adjustments in eight cities is expected to further boost revenue and profit margins [9]. - **Direct Drinking Water**: Revenue fell by 28.3% to HKD 263 million, with segment profit declining 55.2% to HKD 75 million. Despite this, revenue from direct water supply operations and equipment sales remained stable [9]. - **Environmental Segment**: Benefiting from the Meifeng Wastewater Treatment Project, this segment achieved revenue of HKD 832 million, a year-on-year increase of 8.7%, with segment profit rising 29.7% to HKD 367 million [9]. - **General Contracting**: Revenue decreased by 6.1% to HKD 398 million, with segment profit down 60.2% to HKD 158 million [9]. - **Property Business**: Revenue plummeted by 93.3% to HKD 17 million, with segment profit dropping 96.4% to HKD 500,000, but the impact on overall performance is expected to be limited [9]. Financial Performance - The company experienced a 17.6% decrease in financial expenses during FY2026H1, benefiting from lower financing costs amid domestic and international interest rate cuts [9]. - The interim dividend payout ratio is 37%, with capital expenditures peaking at HKD 5.14 billion in FY2024, decreasing to HKD 3.24 billion in FY2025, leading to a positive free cash flow of HKD 150 million. For FY2026, capital expenditures are projected to be no more than HKD 2 billion, indicating a clear turning point in free cash flow and potential for increased dividends [9]. Earnings Forecast and Valuation - The company is expected to achieve net profits attributable to shareholders of HKD 1.14 billion, 1.16 billion, and 1.20 billion for FY2026-2028, with year-on-year growth rates of 6.0%, 2.2%, and 2.7% respectively. The emergence of free cash flow is viewed positively for future dividend increases, with a projected dividend payout ratio of 42.53% for FY2026-2028, corresponding to dividend yields of 5.1%, 5.2%, and 5.3% based on the stock price as of November 28, 2025 [9].

Major Events - Excellence Risen (02687) plans to offer 6.6667 million H-shares globally from November 28 to December 3 [1] - Naxin Micro (02676) plans to offer 19.0684 million shares globally from November 28 to December 3 [1] - Stone Four Pharmaceutical Group (02005) received production registration approval for the sustained-release capsule of Tofacitinib (4mg) [1] - Innovent Biologics (01801) received approval from the National Medical Products Administration for its drug, Xinmeiyue® (Pikankizumab injection), for treating moderate to severe plaque psoriasis [1] - Jiangxi Copper (00358) intends to acquire shares of the overseas-listed company SolGold Plc [1] - ZTO Express-W (02057) plans to acquire 100% equity of Zhejiang Xinglian for 178 million yuan to enhance end-to-end domestic and international air logistics capabilities [1] - China Shenhua (01088) completed 168 hours of trial operation for the Beihai Phase II Unit 3 and transferred it to commercial operation [1] - Zhidatech (02650) signed a major contract worth over 100 million yuan for electric vehicle charging stations with Saudi Controls Ltd, expanding into the Middle East market [1] - Hendry (03389) received a voluntary cash offer from Junya at a 12% premium and will resume trading on December 1 [1] - Zijin Mining (02899) donated 20 million HKD to support post-fire reconstruction in Hong Kong's Tai Po District [1] - Guoquan (02517) donated 10 million HKD for fire rescue efforts in Hong Kong's Tai Po [1] - InnoCare Pharma (02577) donated 2 million HKD to assist in fire rescue efforts in Hong Kong's Tai Po [1] Operating Performance - Meituan-W (03690) reported Q3 revenue of approximately 95.5 billion HKD, a year-on-year increase of about 2%, with highlights in flash purchase and global expansion [1] - China Gas (00384) reported a mid-term profit attributable to shareholders of 1.334 billion HKD, with an interim dividend of 0.15 HKD per share [1] - Zhixing Group Holdings (01539) reported a mid-term profit attributable to shareholders of 27.533 million HKD, a year-on-year increase of 35.68%, with gross margin rising to approximately 67.3% [1] - Guofu Quantum (00290) reported mid-term revenue of 1.027 billion HKD, a year-on-year increase of 4564.52% [1] - Yuhua Education (06169) reported an annual adjusted profit attributable to shareholders of 914 million HKD, a year-on-year increase of 95.6% [1] - China Water Affairs (00855) achieved mid-term revenue of approximately 5.183 billion HKD, with a dividend of 0.13 HKD per share [1] - Zhonghui Group (00382) reported annual revenue of approximately 2.489 billion HKD, a year-on-year increase of 7.7% [1]

Core Viewpoint - China Water Affairs (00855.HK) announced a mid-term dividend of HKD 0.13 per share to be distributed on June 18, 2026 [1] Company Summary - The company is set to distribute a mid-term dividend, indicating a commitment to returning value to shareholders [1]

Core Viewpoint - China Water Affairs (00855) announced a mid-term dividend of 13 Hong Kong cents per share, to be distributed on June 18, 2026 [1] Group 1 - The company will distribute a mid-term dividend of 13 HKD cents per share [1]

Core Viewpoint - China Water Affairs (00855) announced a mid-term dividend of 13 Hong Kong cents per share, to be distributed on June 18, 2026 [1] Company Summary - The company is set to distribute a mid-term dividend of 0.13 HKD per share [1]

Core Viewpoint - China Water Affairs (00855) reported a revenue of approximately HKD 5.183 billion for the six months ending September 30, 2025, with a profit attributable to shareholders of about HKD 571 million, translating to a basic earnings per share of HKD 0.3512 and an interim dividend of HKD 0.13 [1] Financial Performance - The company achieved a revenue of approximately HKD 5.183 billion [1] - Profit attributable to shareholders was around HKD 571 million [1] - Basic earnings per share stood at HKD 0.3512 [1] - The interim dividend declared was HKD 0.13 per share [1] Strategic Development - The company plans to integrate the government's issuance of ultra-long-term national bonds and special bonds policy guidance to actively promote a light asset development strategy [1] - The strategy aims to achieve a business development path that combines light and heavy assets [1] - The company intends to reduce capital expenditure, optimize financial leverage, enhance operational flexibility and risk resistance, and improve free cash flow generation capabilities [1] - This approach is designed to provide sufficient funding support for shareholder dividends and business development [1]

中国水务(00855)公布截至2025年9月30日止6个月的中期业绩，收益约51.83亿港元，公司拥有人应占溢 利约5.71亿港元，每股基本盈利35.12港仙，每股中期股息13港仙。 在产业结构方面，该集团将结合政府发行的超长期国债和专项债政策导向，积极推进轻资产发展策略， 实现轻重资产结合的业务发展路径，通过降低资本开支，优化财务杠杆水平，增强经营的灵活性和抗风 险能力，提高自由现金流创造能力，为股东分红和业务发展提供充足资金保障。 ...

Core Viewpoint - China Water Affairs (00855.HK) reported a decline in mid-term performance for the six months ending September 30, 2025, with revenue decreasing by 12.9% to HKD 5.1833 billion and net profit attributable to shareholders down by 24.4% to HKD 571.3 million [1] Financial Performance - Revenue for the period was HKD 5.1833 billion, a decrease of 12.9% year-on-year [1] - Net profit attributable to shareholders was HKD 571.3 million, reflecting a 24.4% decline compared to the previous year [1] - Basic earnings per share were HKD 0.3512, with an interim dividend proposed at HKD 0.13 per share [1] Business Strategy and Operations - The company is optimizing its development strategy to enhance project management in core business areas [1] - There is a greater focus on project returns, leading to a slowdown in construction activities and a decline in related construction revenue [1] - Revenue from the segments of "Urban Water Supply," "Pipeline Drinking Water Supply," and "Environmental Protection" decreased from HKD 4.8979 billion to HKD 4.3664 billion, representing a 10.9% reduction [1] - The decline in revenue is primarily attributed to reduced installation, maintenance, and construction activities in the "Urban Water Supply" and "Pipeline Drinking Water Supply" segments [1] Joint Venture Performance - The group's share of joint venture performance decreased, mainly due to a one-time loss recognized from the sale of a portion of the equity in Kangda International Environmental Company [1]

EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國水務集團有限公司 | | 股份代號 | 00855 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年9月30日止六個月之中期股息 | | 公告日期 | 2025年11月28日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2026年3月31日 | | 宣派股息的報告期末 | 2025年9月30日 | | 宣派股息 | 每 股 0.13 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.13 HKD | | 匯率 | 1 HKD : 1 HKD ...