China Everbright Water, a dual-listed environmental services group based in Hong Kong and Singapore, has announced its financial results for the full year ending December 31, 2023.
The company experienced significant growth in net profit, earnings per share, and dividend payouts, showcasing its resilience and strength in the environmental services sector.
Strong Profit Growth
China Everbright Water’s net profit for FY2023 surged by 17% to HK$1.2 billion, compared to HK$1 billion in FY2022. This substantial increase underscores the company’s effective operational strategies and solid financial performance.
Read More: Verve Therapeutics Inc (VERV) Charts Impressive Progress and Financials for Q4 and Full Year 2023
Earnings Per Share and Dividend Increase
Earnings per share also witnessed a commendable growth of 17%, reaching HK$0.4151 from HK$0.3532 in the previous year.
Reflecting its confidence in future prospects, the board of directors proposed a final dividend of HK$0.0581 per share, marking a significant increase from the FY2022 final dividend of HK$0.0514 per share.
Pending approval at the upcoming general meeting, the total dividend for the year is set to rise by 17% to HK$0.1244 per share, compared to HK$0.1059 for FY2022.
Steady Revenue Amid Margin Improvement
Although revenue for the year experienced a slight decline of 0.3% to HK$6.7 billion, China Everbright Water managed to improve its overall gross profit margin, increasing it to 42% from 38% in the previous year.
This improvement can be attributed to effective cost management strategies, resulting in lower direct costs and operating expenses.
Also Read: Viking Therapeutics Announces Plans for Public Offering of Common Stock
Financial Strength and Stability
The company emphasized its strong financial position, highlighting its access to various financial channels, funds, and assets.
Despite economic uncertainties, China Everbright Water maintained a healthy gearing ratio, which decreased slightly to 60.7% compared to 61.1% in the prior year. This indicates the company’s prudent financial management and ability to navigate challenging market conditions.
Leadership Transition
In a separate announcement, China Everbright Water disclosed a leadership transition, with Luan Zusheng set to assume the role of chairman of the board effective March 18.
Luan currently serves as the executive director and chief executive officer of China Everbright Environment Group, the company’s indirect controlling shareholder.
His extensive experience in the environmental sector positions him well to lead China Everbright Water through its next phase of growth and development.
Demonstrating Resilience in the Environmental Services Industry
China Everbright Water’s impressive FY2023 financial performance underscores its resilience and capability in the environmental services industry.
With strong profit growth, increased dividends, and a focus on financial stability, the company is well-positioned to capitalize on opportunities and drive sustainable value for its stakeholders.
Strategic Expansion and Market Outlook
Looking ahead, China Everbright Water is strategically positioned to capitalize on emerging opportunities in the environmental services sector.
With plans for expansion into new markets and diversification of its service offerings, the company aims to strengthen its competitive position and drive sustainable growth.
Additionally, favorable government policies and increasing awareness of environmental issues provide a conducive environment for the company’s operations.
Knowing this, investors can remain optimistic about China Everbright Water’s prospects and its potential to deliver long-term value.
Read Next: Causeway International Value’s Strategic Moves in Q4
DISCLAIMER
You should read and understand this disclaimer in its entirety before joining or viewing the website or email/blog list of SmallCapStocks.com (the “Publisher”). The information (collectively the “Advertisement”) disseminated by email, text or other method by the Publisher including this publication is a paid commercial advertisement and should not be relied upon for making an investment decision or any other purpose. The Publisher is engaged in the business of marketing and advertising the securities of publicly traded companies in exchange for compensation. The track record, gains, upside, and/or losses mentioned in the Advertisement, if any, should not be considered as true or accurate or be the basis for an investment. The Publisher does not verify the accuracy or completeness of any information included in the Advertisement. While the Publisher does not charge for the SMS service, standard carrier message and data rates may apply. To unsubscribe from receiving promotional text messages to your phone sent via an autodialer, using your phone reply to the sender’s phone number with the word STOP or HELP for help.
The Advertisement is not a solicitation or recommendation to buy securities of the advertised company. An offer to buy or sell securities can be made only by a disclosure document that complies with applicable securities laws and only in the states or other jurisdictions in which the security is eligible for sale. The Advertisement is not a disclosure document. The Advertisement is only a favorable snapshot of unverified information about the advertised company. An investor considering purchasing the securities, should always do so only with the assistance of his legal, tax and investment advisors. Investors should review with his or her investment advisor, tax advisor or attorney, if and to the extent available, any information concerning a potential investment at the web sites of the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov; the Financial Industry Regulatory Authority (the "FINRA") at www.FINRA.org, and relevant State Securities Administrator website and the OTC Markets website at www.otcmarkets.com. The Publisher cautions investors to read the SEC advisory to investors concerning Internet Stock Fraud at www.sec.gov/consumer/cyberfr.htm, as well as related information published by the FINRA on how to invest carefully. Investors are responsible for verifying all information in the Advertisement. As an advertiser, we do not verify any information we publish. The Advertisement should not be considered true or complete.
The Publisher does not offer investment advice or analysis, and the Publisher further urges you to consult your own independent tax, business, financial and investment advisors concerning any investment you make in securities particularly those quoted on the OTC Markets. Investing in securities is highly speculative and carries an extremely high degree of risk. You could lose your entire investment if you invest in any company mentioned in the Advertisement. You acknowledge that we are not an investment advisory service, a broker-dealer or an investment adviser and we are not qualified to act as such. You acknowledge that you will consult with your own independent, tax, financial and/or legal advisers regarding any decisions as to any company mentioned here. We have not determined if the Advertisement is accurate, correct or truthful. The Advertisement is compiled from publicly available information, which include, but are not limited to, no cost online research, magazines, newspapers, reports filed with the SEC or information furnished by way of press releases. Because all information relied upon by us in preparing an advertisement about an issuer comes from a public source, it is not reliable, and you should not assume it is accurate or complete.
By your subscription to our profiles, the viewing of this profile and/or use of our website, you have agreed and acknowledged the terms of our full disclaimer and privacy policy which can be viewed at the following link: www.SmallCapStocks.com/Disclaimer and www.SmallCapStocks.com/Privacy-Policy
By accepting the Advertisement, you agree and acknowledge that any hyperlinks to the website of (1) a client company, (2) the party issuing or preparing the information for the company, or (3) other information contained in the Advertisement is provided only for your reference and convenience. The advertiser is not responsible for the accuracy or reliability of these external sites, nor is it responsible for the content, opinions, products or other materials on external sites or information sources. If you use, act upon or make decisions in reliance on information contained in any disseminated report/release or any hyperlink, you do so at your own risk and agree to hold us, our officers, directors, shareholders, affiliates and agents harmless. You acknowledge that you are not relying on the Publisher, and we are not liable for, any actions taken by you based on any information contained in any disseminated email or hyperlink.
I’m Jackson Hartwell, a writer who specializes in dissecting current business events. I’m dedicated to providing you with clear and concise insights into the world of politics, making it easier to understand the latest news and developments.
