China Everbright Water (U9E) investor relations material

Executive summary

• 1HFY2026 revenue fell 27% to HK$2,391.656 million; attributable profit declined 8% to HK$517.558 million.

• Priorities included operating efficiency, cost control, receivables collection, technology deployment and selective market expansion.

• Treated 888.71 million m³ of wastewater; raw-water supply was 46.42 million m³ and reusable-water supply was 19.97 million m³.

Financial highlights

• Revenue was HK$2,391.656 million versus HK$3,279.57 million in H1 2025; construction service revenue fell to HK$100.83 million from HK$1,164.18 million.

• Operation income rose 9% to HK$1,611.44 million; service-concession finance income increased to HK$564.09 million from HK$558.81 million.

• Gross profit decreased 10% to HK$1,227.005 million; gross margin rose to 51% from 42%, while EBITDA fell 10% to HK$1,078.308 million.

• Profit attributable to equity holders fell 8% to HK$517.558 million; basic EPS declined 8% to HK18.09 cents.

• Finance costs declined 11% to HK$226.73 million, reflecting lower average lending rates after refinancing despite higher average borrowings.

Outlook and guidance

• H2 priorities include stronger receivables collection, asset revitalisation, technology commercialisation, market conversion, procurement governance, safety, capital support and talent development.

• Growth areas include industrial-park wastewater treatment, agricultural non-point source pollution control, electronic industrial wastewater treatment and emerging Southeast Asian markets.

• New project investment will remain prudent, assessing local fiscal conditions, payment capacity and full-cycle cash recovery; financing plans include coordinating onshore and offshore capital and managing funding costs.