China Water Affairs drops to 7-week low as earnings, dividend dip

China Water Affairs

27/06/2024 06:55

** Shares of China Water Affairs Group Ltd  0855.HK  drops
13.1% to HK$5.05, their lowest since May 10, on course for
fourth consecutive session of decline
    ** Stock on track for the biggest one-day pct drop since
November 2008, if trend holds; third biggest pct loser on Hang
Seng Composite Index  .HSCI  
    ** The Chinese water supplier says its net profit for year
ended in March fell 17.4% Y/Y; revenue down 9.4% Y/Y
    ** Co proposes final dividend of HK$0.15 per share, compared
to HK$0.18 per share in a year ago period
    ** The Hang Seng Composite Index  .HSCI  falls 2.1% and Hang
Seng Index  .HSI  drop 2.2%
    ** Stock up 22.4% YTD  
($1 = 7.8077 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))