China Water Industry Group Limited (HK:1129) has released an update.
China Water Industry Group Limited anticipates a larger net loss for the first half of 2024, estimated to not exceed HK$85.00 million, compared to the previous year’s loss of HK$56.36 million. The increase in loss is primarily due to a decrease in revenue and gross profit across its renewable energy and water supply installation, construction, and infrastructure segments, with additional factors including the absence of gains from a prior disposal of a subsidiary and increased finance costs from new loans. These negative impacts were somewhat mitigated by reduced administrative costs, increased income from glass management contracts, and lower income tax from decreased taxable profit.
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