收购阳江、汕头项目，提升水资源投运规模至1210 万吨/日根据10 月28 日公告，粤海投资向粤海水务 （粤海控股的全资附属公司）收购2 家公司股权：1）收购阳江粤海清源51%股权，对价1.56 亿人民 币，收购完成后粤海投资持有阳江粤海清源100%股权。阳江粤海清源主要从事污水管道改造工程，截 至2024 年底净资产3.36 亿人民币，2024 年实现营收/税后溢利6275/2350 万人民币；2）收购汕头粤海水 务2%股权，对价7088万人民币，收购完成后粤海投资持有汕头粤海水务51%股权。汕头粤海水务主要 从事自来水生产和供应，截至2024 年底净资产31.78 亿人民币，2024年实现营收/税后溢利4.86 亿/3878 万人民币。截至9 月30 日公司并表投运规模1118 万吨/日，交割后将提升至1210 万吨/日，有利于提升水 资源业务规模和市场影响力。 机构：华泰证券 维持盈利预测，目标价9.11 港元 研究员：王玮嘉/黄波/李雅琳/胡知 维持盈利预测，预计公司2025-2027 年归母净利润为42.18、43.97、45.76亿港元，同比增速分别为 34.2、4.2、4.1%，对应EPS 0. ...

Core Viewpoint - Wuhan Holdings experienced a stock price decline of 2.01% on October 28, with a current price of 5.35 CNY per share and a total market capitalization of 5.315 billion CNY [1]. Financial Performance - For the first half of 2025, Wuhan Holdings reported a revenue of 2.076 billion CNY, representing a year-on-year growth of 14.76%. The net profit attributable to shareholders was 88.769 million CNY, reflecting a 9.22% increase compared to the previous year [2]. - The company has cumulatively distributed 1.606 billion CNY in dividends since its A-share listing, with 70.815 million CNY distributed over the last three years [3]. Stock Market Activity - As of October 28, the trading volume was 191 million CNY, with a turnover rate of 3.57%. The stock has increased by 21.51% year-to-date, but has seen a decline of 4.80% over the last five trading days [1]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on October 22 [1]. Shareholder Information - As of June 30, the number of shareholders for Wuhan Holdings was 32,800, a decrease of 5.83% from the previous period. The average number of circulating shares per shareholder increased by 6.19% to 30,258 shares [2]. Business Overview - Wuhan Holdings, established on April 17, 1998, operates in the environmental sector, focusing on wastewater treatment, water supply, and tunnel operations. The revenue breakdown includes 48.48% from wastewater treatment, 43.90% from engineering construction, 4.01% from water supply, and 0.06% from leachate treatment [1]. - The company is categorized under the environmental governance sector, specifically in water management, and is associated with concepts such as new urbanization and green energy [1].