Edison Investment Research - China Water Affairs Group Limited China Water Affairs Group - Improvements at Kangda International

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Edison Investment Research

Toby Thorrington

China Water Affairs Group - Improvements at Kangda International

FY19 results from Kangda International Environmental (KIE) showed an improvement in profitability and China Water Affairs (CWA) has put in place a deal to increase its holding in its associate company. While the precise financial impact of the COVID-19 pandemic has yet to be clarified, we have left our FY20 forecasts unchanged, but CWAâ€™s current rating appears modest for such a defensive company.

28/04/2020 5 EN

Underlying

China Water Affairs Group Limited

China Water Affairs Group Ltd, formerly China Silver Dragon Group Ltd, is an investment holding company principally engaged in city water supply operation and construction. The Company operates its business through three segments. The City Water Supply Operation and Construction segment engages in the provision of water supply operation and construction services. The Environmental Protection segment engages in the provision of sewage treatment and drainage operation and construction services, solid waste and hazardous waste business, environmental sanitation and water environment management. The Property Development and Investment segment engages in the development of properties for sale and investment in properties for long term rental.

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BMG210901242 Germany

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Toby Thorrington

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China Water Affairs Group - Improvements at Kangda International

With a more favourable environment, CHINA WATER AFFAIRS GP. improves to Positive

Monthly LMI Update Independent Investment Research

China Water Affairs Group - Termination of coverage

Basilea Pharmaceutica - Milestone march continues for Cresemba

Sareum Holdings - New funding extends runway to Phase II

Ocean Wilsons Holdings - Confirmation of interest in Wilson Sons holding

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