China Everbright Water Limited (CEB Water) reported its interim results for the six months ended 30 June 2026.
Revenue and Profitability • Revenue fell 27.0% year on year to HKD 2.39 billion, mainly due to a sharp drop in construction service revenue to HKD 100.83 million from HKD 1.16 billion in the prior-year period. • Operation income grew 9.1% to HKD 1.61 billion, while finance income from service-concession arrangements edged up 0.9% to HKD 564.09 million. • EBITDA slipped 9.7% to HKD 1.08 billion. • Profit attributable to equity holders decreased 8.2% to HKD 517.56 million; basic EPS declined to HK18.09 cents from HK19.71 cents. • Overall gross profit margin improved to 51%, up nine percentage points from 42% a year earlier.
Balance-Sheet Highlights • Total assets rose 5.0% versus end-2025 to HKD 40.10 billion; total liabilities increased 2.8% to HKD 23.83 billion. • Equity attributable to shareholders expanded 8.7% to HKD 13.96 billion; net asset value per share advanced to HKD 4.88. • Gearing ratio (total liabilities/total assets) eased to 59.4% from 60.7%. • Net cash inflow from operating activities stood at HKD 51.13 million, compared with HKD 131.71 million in the prior-year period. Cash and bank balances totalled HKD 1.85 billion at period-end.
Dividend • The board declared an interim dividend of HK6.09 cents (equivalent to 1.00 Singapore cent) per share, unchanged in Hong Kong dollar terms from 1H 2025. The dividend will be paid on or around 14 September 2026.
Operational Metrics • The group treated 888.71 million m³ of waste water, supplied 46.42 million m³ of raw water and 19.97 million m³ of reusable water. • CEB Water held 190 environmental projects with a combined designed water-treatment/supply capacity of 7.64 million m³ per day, including 169 treatment or supply projects and 21 other environmental initiatives. • Four projects commenced construction and two entered operation during the period, adding 20,000 m³/day of new capacity. • Capital expenditure commitments related to construction contracts stood at HKD 105.21 million; committed equity investment totalled HKD 2.32 million.
Financing and Liquidity • Outstanding borrowings reached HKD 18.03 billion, up HKD 704.71 million from end-2025; fixed-rate debt accounted for 59%. • Unutilised banking facilities amounted to HKD 6.07 billion. • On 10 July 2026, the company issued RMB 1.5 billion of five-year medium-term notes at a 1.80% coupon; proceeds were used to refinance existing bonds.
Governance Update • Effective 17 July 2026, CEO Mr Xiong Jianping became acting chairman following the resignation of Mr Luan Zusheng. • The Strategy Committee was dissolved on 11 August 2026 to streamline decision-making.
Outlook Management reiterated its “progress with stability” approach, prioritising operational efficiency, market expansion in industrial waste-water and agricultural non-point pollution, technology commercialisation, and prudent cash-flow management to support long-term growth.
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