Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.21 in FY 2024) Full year 2025 results: EPS: CN¥0.13 (down from CN¥0.21 in FY 2024). Revenue: CN¥1.24b (down 7.0% from FY 2024). Net income: CN¥109.2m (down 38% from FY 2024). Profit margin: 8.8% (down from 13% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.21 in FY 2024) Full year 2025 results: EPS: CN¥0.13 (down from CN¥0.21 in FY 2024). Revenue: CN¥1.24b (down 7.0% from FY 2024). Net income: CN¥109.2m (down 38% from FY 2024). Profit margin: 8.8% (down from 13% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 26, 2026 Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 26, 2026. Announcement • Mar 17
Luzhou Xinglu Water (Group) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Buy Or Sell Opportunity • Mar 13
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to HK$0.82. The fair value is estimated to be HK$0.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.0%. Buy Or Sell Opportunity • Jan 22
Now 21% overvalued Over the last 90 days, the stock has fallen 3.8% to HK$0.75. The fair value is estimated to be HK$0.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.0%. Buy Or Sell Opportunity • Jan 07
Now 20% overvalued Over the last 90 days, the stock has fallen 6.3% to HK$0.74. The fair value is estimated to be HK$0.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.0%. Buy Or Sell Opportunity • Dec 19
Now 23% overvalued Over the last 90 days, the stock has fallen 2.6% to HK$0.75. The fair value is estimated to be HK$0.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.0%. Buy Or Sell Opportunity • Sep 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to HK$0.80. The fair value is estimated to be HK$0.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.0%. Reported Earnings • Sep 02
First half 2025 earnings released: EPS: CN¥0.082 (vs CN¥0.07 in 1H 2024) First half 2025 results: EPS: CN¥0.082 (up from CN¥0.07 in 1H 2024). Revenue: CN¥615.4m (flat on 1H 2024). Net income: CN¥70.9m (up 12% from 1H 2024). Profit margin: 12% (up from 10% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Announcement • Aug 19
Luzhou Xinglu Water (Group) Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Upcoming Dividend • Jul 02
Upcoming dividend of HK$0.044 per share Eligible shareholders must have bought the stock before 09 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (7.3%). Higher than average of industry peers (5.4%). Announcement • Jun 27
Luzhou Xinglu Water (Group) Co., Ltd. Announces Final Dividend for the Year Ended 31 December 2024, Payable on or Before 31 July 2025 Luzhou Xinglu Water (Group) Co., Ltd. at its AGM held on June 27, 2025, approved the final dividend of RMB 0.04 per share for the year ended 31 December 2024 to the Shareholders whose names appear on the register of members of the Company on 15 July 2025. The Final Dividend will be paid by the Receiving Agent, and such dividend certificate will be delivered by Computershare Hong Kong Investor Services Limited, the H share registrar of the Company, to H Shareholders who are entitled to receive the Final Dividend on or before 31 July 2025 by ordinary post at their own risks. Reported Earnings • Apr 29
Full year 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.24 in FY 2023) Full year 2024 results: EPS: CN¥0.21 (down from CN¥0.24 in FY 2023). Revenue: CN¥1.33b (up 3.4% from FY 2023). Net income: CN¥177.2m (down 16% from FY 2023). Profit margin: 13% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. Declared Dividend • Mar 31
Dividend of CN¥0.04 announced Shareholders will receive a dividend of CN¥0.04. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 6.6%, which is lower than the industry average of 11%. Sustainability & Growth The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 75% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.4% EPS decline seen over the last 5 years. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.24 in FY 2023) Full year 2024 results: EPS: CN¥0.21 (down from CN¥0.24 in FY 2023). Revenue: CN¥1.33b (up 3.4% from FY 2023). Net income: CN¥177.2m (down 16% from FY 2023). Profit margin: 13% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year. Announcement • Mar 29
Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 27, 2025 Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 27, 2025. Announcement • Mar 18
Luzhou Xinglu Water (Group) Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Reported Earnings • Sep 27
First half 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.09 in 1H 2023) First half 2024 results: EPS: CN¥0.07 (down from CN¥0.09 in 1H 2023). Revenue: CN¥617.0m (down 3.7% from 1H 2023). Net income: CN¥63.3m (down 20% from 1H 2023). Profit margin: 10% (down from 12% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. New Risk • Aug 29
New major risk - Revenue and earnings growth Earnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.5% per year over the past 5 years. Minor Risks High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (HK$524.4m market cap, or US$67.3m). Announcement • Aug 16
Luzhou Xinglu Water (Group) Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Upcoming Dividend • Jun 28
Upcoming dividend of CN¥0.05 per share Eligible shareholders must have bought the stock before 05 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 21% but the company is paying out more than the cash it is generating. Trailing yield: 8.5%. Within top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (6.8%). New Risk • Mar 31
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 66% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (66% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (HK$507.2m market cap, or US$64.8m). Declared Dividend • Mar 29
Dividend of CN¥0.05 announced Shareholders will receive a dividend of CN¥0.05. Ex-date: 5th July 2024 Payment date: 31st July 2024 Dividend yield will be 8.5%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (264% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 6.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 28, 2024 Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 28, 2024. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.24 in FY 2022) Full year 2023 results: EPS: CN¥0.24 (in line with FY 2022). Revenue: CN¥1.29b (down 4.9% from FY 2022). Net income: CN¥209.9m (up 3.3% from FY 2022). Profit margin: 16% (up from 15% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • Mar 27
Luzhou Xinglu Water (Group) Co., Ltd. Proposes Final Ordinary Dividend for the Financial Year End 31 December 2023, Payable July 31, 2024 Luzhou Xinglu Water (Group) Co., Ltd. proposed Final Ordinary dividend of RMB 0.05 per share for the financial year end 31 December 2023. Ex-dividend date 05 July 2024, Record date 12 July 2024 and Payment date 31 July 2024. Announcement • Mar 16
Luzhou Xinglu Water (Group) Co., Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024 Announcement • Dec 13
Luzhou Xinglu Water (Group) Co., Ltd. Announces Director and Board Committees Changes Luzhou Xinglu Water (Group) Co., Ltd. announced that at the EGM held on 13 December 2023 approved the appointment of Mr. CHEN Qinan as an executive Director; the appointment of Mr. XU Fei as a non-executive Director; the appointment of Ms. ZHANG Guanghui as a non-executive Director. The Board is also pleased to announce that, at the Board Meeting, the Board have resolved to make the following appointments to respective Board committees with effect from 13 December 2023: Mr. ZHANG Qi as the chairman and each of Mr. XU Fei and Ms. HU Fenfen as a member of the strategy committee of the Board; Ms. MA Hua as the chairman and each of Ms. ZHANG Guanghui and Mr. LIANG Youguo as a member of the nomination and remuneration committee of the Board; and For avoidance of doubt, the composition of the audit committee of the Board remains unchanged. Announcement • Sep 20
Luzhou Junyuan Asset Management Co., Ltd entered into the Equity Transfer Agreement to acquire 6.43% stake in Sichuan Xiangjiaba Irrigation Construction and Development Co.,Ltd. from Luzhou Xinglu Water (Group) Co., Ltd. (SEHK:2281) for CNY 52.8 million. Luzhou Junyuan Asset Management Co., Ltd entered into the Equity Transfer Agreement to acquire 6.43% stake in Sichuan Xiangjiaba Irrigation Construction and Development Co.,Ltd. from Luzhou Xinglu Water (Group) Co., Ltd. (SEHK:2281) for CNY 52.8 million on September 19, 2023. Sichuan Xiangjiaba Irrigation Construction and Development Co.,Ltd. reported Net income of CNY 4.6 million in December 31, 2022. Reported Earnings • Aug 27
First half 2023 earnings released: EPS: CN¥0.092 (vs CN¥0.14 in 1H 2022) First half 2023 results: EPS: CN¥0.092 (down from CN¥0.14 in 1H 2022). Revenue: CN¥640.5m (down 8.3% from 1H 2022). Net income: CN¥79.2m (down 35% from 1H 2022). Profit margin: 12% (down from 18% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Aug 16
Luzhou Xinglu Water (Group) Co., Ltd. to Report First Half, 2023 Results on Aug 25, 2023 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report first half, 2023 results on Aug 25, 2023 Announcement • Jul 22
Luzhou Xinglu Water (Group) Co., Ltd. Announces Board Changes The board of directors of Luzhou Xinglu Water (Group) Co., Ltd. announced that Ms. Huang Mei ("Ms. Huang") has submitted her resignation as an employee representative Director due to the change in work arrangement. The resignation of Ms. Huang will take effect on 19 July 2023. Ms. Huang has confirmed that she has no disagreement with the Board and that no matters concerning her resignation need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company. In accordance with relevant laws and regulations and the articles of association of the Company, the employee representative Director shall be elected at an employee representative meeting of the Company, whose election is not subject to the approval by the Shareholders. The Board further announced that an employee representative meeting has been convened on 19 July 2023 at which the appointment of Mr. Xu Guanghua ("Mr. Xu") as the employee representative Director to serve as an executive Director of the second session of the Board was considered and approved. Mr. Xu Guanghua, aged 55, is currently the deputy party secretary and secretary of the discipline inspection committee of the Company. He used to be a teacher at Luzhou Naxi District Dadu Middle School from July 1990 to September 1996. He then served in Luzhou Municipal People's Government Office as a clerk from July 1999 to July 2000, as a senior staff member from July 2000 to December 2001, as a deputy division director of information and research division from December 2001 to February 2003, as a deputy director of research office from February 2003 to April 2004, and as the party secretary of Yao Ba Township of Hejiang County from April 2004 to August 2006. He then served as a deputy director of the office and the director of political research office of Hejiang county party committee from August 2006 to October 2006, and served as a director of office of Hejiang County People's Government Office from October 2006 to June 2008. He also served as a standing committee member of CPC of Hejiang county, a director of the office of Hejiang County committee of the CPC, the secretary of and working committee of an organization directly under the county government, and the chairman of federation of trade unions from June 2008 to March 2010. Mr. Xu then served as a standing committee member of CPC of Hejiang county and the director of publicity department from March 2010 to October 2011, as a deputy director of Luzhou Municipal Government Office and a member of the party group from October 2011 to October 2014, as a deputy director and a Party member of Luzhou State-owned Assets Supervision and Administration Commission from October 2014 to August 2016, as the general manager of Luzhou Cultural Tourism Development Investment Co., Ltd. and the chairman of the board of directors of Luzhou Yaoba Ancient Town Tourism Development and Investment Co., Ltd. from August 2016 to March 2023. Mr. Xu graduated from Yibin Normal College of Higher Education in July 1990, and graduated from Yunnan Agricultural University with a master degree in plant pathology in July 1999. Upcoming Dividend • Jun 27
Upcoming dividend of HK$0.055 per share at 7.8% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 7.8%. Within top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (8.3%). Announcement • Jun 10
Luzhou Xinglu Water (Group) Co., Ltd Approves Final Dividend for the Year Ended December 31, 2022, Payable on or before 28 July 2023 Luzhou Xinglu Water (Group) Co., Ltd. has held the AGM at on 9 June 2023, will make payment of the final dividend for the year ended 31 December 2022 (the "Final Dividend") of RMB 0.05 per share (tax inclusive) to the Shareholders whose names appear on the register of members of the Company on 11 July 2023 with a total amount of approximately RMB 42,985,500. The Final Dividend will be denominated and declared in RMB. The Final Dividend relating to Domestic Shares will be paid in RMB and the Final Dividend relating to H Shares will be paid in Hong Kong dollars by the Company. The relevant exchange rate for conversion shall be calculated by the average central parity rate of the relevant foreign exchange posted by China Foreign Exchange Trading Centre for one calendar week immediately preceding the date of declaration of the dividend at the AGM (being RMB 0.90678 to HKD 1), therefore the dividend payable for each H Share should be HKD 0.055 (tax inclusive). The Final Dividend will be paid by the Receiving Agent, and such dividend certificate will be delivered by Computershare Hong Kong Investor Services Limited, the H share registrar of the Company, to H Shareholders who are entitled to receive the Final Dividend on or before 28 July 2023 by ordinary post at their own risks. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be HK$0.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 4.4%. Buying Opportunity • May 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be HK$0.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 4.4%. Buying Opportunity • Apr 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be HK$0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 5.8%. Reported Earnings • Apr 01
Full year 2022 earnings released Full year 2022 results: Revenue: CN¥1.35b (down 1.2% from FY 2021). Net income: CN¥203.2m (down 16% from FY 2021). Profit margin: 15% (down from 18% in FY 2021). The decrease in margin was primarily driven by higher expenses. Buying Opportunity • Dec 19
Now 21% undervalued Over the last 90 days, the stock is up 1.2%. The fair value is estimated to be HK$1.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 5.7%. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). Executive Chairman of the Board Qi Zhang is the most experienced director on the board, commencing their role in 2012. Independent Non-Executive Director Hua Ma was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 29
First half 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.22 in 1H 2021) First half 2022 results: EPS: CN¥0.14 (down from CN¥0.22 in 1H 2021). Revenue: CN¥698.1m (up 3.2% from 1H 2021). Net income: CN¥121.9m (down 36% from 1H 2021). Profit margin: 18% (down from 28% in 1H 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Aug 13
Luzhou Xinglu Water (Group) Co., Ltd. to Report First Half, 2022 Results on Aug 26, 2022 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report first half, 2022 results on Aug 26, 2022 Upcoming Dividend • Jun 27
Upcoming dividend of HK$0.059 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (7.9%). In line with average of industry peers (6.5%). Announcement • Jun 11
Luzhou Xinglu Water (Group) Co., Ltd. Approves Final Dividend for the Financial Year End 31 December 2021, Payable on 29 July 2022 Luzhou Xinglu Water (Group) Co., Ltd. approves final dividend of RMB 0.05 per share for the financial year end 31 December 2021, payable on 29 July 2022. Ex-dividend date is 04 July 2022 and Record date is 11 July 2022. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). Chairman of the Board Qi Zhang is the most experienced director on the board, commencing their role in 2012. Independent Non-Executive Director Hua Ma was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 04
Full year 2021 earnings released: EPS: CN¥0.28 (vs CN¥0.24 in FY 2020) Full year 2021 results: EPS: CN¥0.28 (up from CN¥0.24 in FY 2020). Revenue: CN¥1.37b (down 44% from FY 2020). Net income: CN¥241.9m (up 16% from FY 2020). Profit margin: 18% (up from 8.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Apr 02
Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 10, 2022 Luzhou Xinglu Water (Group) Co., Ltd., Annual General Meeting, Jun 10, 2022. Announcement • Apr 01
Luzhou Xinglu Water (Group) Co., Ltd. Proposes Final Dividend for the Year Ended 31 December 2021, Payable on July 29, 2022 Luzhou Xinglu Water (Group) Co., Ltd. proposed final dividend of RMB 0.05 per share for the year Ended 31 December 2021. Ex-dividend date on July 4, 2022. Record date on July 11, 2022. Payment date on July 29, 2022. Announcement • Mar 06
Luzhou Xinglu Water (Group) Co., Ltd. Announces Board and Committee Changes Luzhou Xinglu Water (Group) Co., Ltd. approved the appointment of Mr. YU Long as a non-executive Director; the appointment of Ms. HU Fenfen as a non-executive Director; the appointment of Ms. MA Hua as an independent non-executive Director; the appointment of Mr. LIANG Youguo as an independent non-executive Director; the appointment of Mr. FU Ji as an independent non-executive Director. The company approved the appointment of Mr. YANG Zhenqiu as a shareholder representative Supervisor; the appointment of Mr. LAI Bingyou as a shareholder representative Supervisor, at its EGM held on 4 March 2022. Mr. YU Long and Ms. HU Fenfen was appointed as a non-executive Director for the second session of the Board, and each of Ms. MA Hua, Mr. LIANG Youguo and Mr. FU Ji was appointed as anindependent non-executive Director for the second session of the Board (collectively, the "New Director(s)").The Employee Representative Meeting has been convened on 4 March 2022, at which theappointment of Ms. HUANG Mei as the employee representative Director to serve as anexecutive Director of the second session of the Board was considered and approved.The term of office of Ms. HUANG Mei will commence from the date of the EmployeeRepresentative Meeting till the expiry of the second session of the Board.Ms. HUANG Meijoined the Group in December 1987She served as the chairmanof the supervisory committee of Xinglu Wastewater Treatment from September 2014 to November2018.The Board announced that, at the meeting of the Board convened immediately after the EGM (the "Board Meeting"), Mr. ZHANG Qi, an executive Director, was appointed as the Chairman of the second session of the Board, with a term effective from the conclusion of the BoardMeeting. Mr. GU Ming'an was appointed as an external Supervisor of the second session of the Supervisory Committee (collectively, the "NewSupervisor(s)"). Ms. XIANG Min joined the Group in September in 1989. She serves as the director of the Board office of the Company since June 2021.Ms. Xiang has 25 years of experience of human resource management. Ms. Xiang served as the director of the office of theCompany from July 2015 to November 2017, as the chairman of the board of directors and thesecretary to the of Party Committee of Luzhou Sitong Tap Water Engineering Co., Ltd.from May 2015 to February 2018 and from May 2015 to December 2017,as the director of the Board office of the Company from November 2017 to June 2019, and as themanager of the Party-masses work department of the Company from June 2019 to June 2021.Mr. LUO Chaopingserves as general manager and the chairman of theboard of directors of Luzhou Xinglu Water (Group) Hejiang Water Industry Co., Ltd.since June 2021 and December 2021 respectively.Mr. TANG Nanyoujoined the Group since August 2013. Mr. Tang serves asthe manager of safety and environmental protection department of the Company since June 2021.The Board announced that, at the Board Meeting and the Board committeesmeetings held immediately after the Board Meeting, the Board and the Board committees (wherenecessary) have resolved to make the following appointments with effect from 4 March 2022:(i) Mr. ZHANG Qi as the chairman and each of Mr. CHEN Bing and Ms. HU Fenfen as a member of the strategy committee of the Board;(ii) Ms. MA Hua as the chairman and each of Mr. YU Long and Mr. LIANG Youguo as a member of the nomination and remuneration committee of the Board; and(iii) Mr. FU Ji as the chairman and each of Mr. LIANG Youguo and Ms. MA Hua as a member of audit committee of the Board;The Board hereby announces that Ms. NG Wing Shan () has resigned as one of the jointcompany secretaries of the Company and the process agent for the acceptance of service of processand notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance(Chapter 622 of the Laws of Hong Kong) (the "Process Agent"), with effect from 4 March 2022.Ms. Ng has confirmed that she has no disagreement with the Board and there is no matter relating toher resignation that needs to be brought to the attention of the Shareholders or the Hong Kong StockExchange.Following the resignation of Ms. Ng, Mr. CHEN Yongzhong (), the other joint companysecretary of the Company who meets the requirements of a company secretary under Rule 3.28 ofthe Listing Rules, will remain in office and act as the sole company secretary of the Company.The Board further announces that Ms. LIN Sio Ngo () has been appointed as the ProcessAgent with effect from 4 March 2022.The Board would like to take this opportunity to express its gratitude to Ms. Ng for her valuablecontributions to the Company during her tenure of service, and to welcome Ms. Lin on her newappointment. Reported Earnings • Aug 31
First half 2021 earnings released: EPS CN¥0.14 (vs CN¥0.19 in 1H 2020) The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: CN¥869.9m (up 49% from 1H 2020). Net income: CN¥118.0m (down 27% from 1H 2020). Profit margin: 14% (down from 28% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 23
Upcoming dividend of HK$0.073 per share Eligible shareholders must have bought the stock before 30 June 2021. Payment date: 30 July 2021. Trailing yield: 6.2%. Within top quartile of Hong Kong dividend payers (6.1%). Higher than average of industry peers (5.3%). Reported Earnings • Apr 30
Full year 2020 earnings released: EPS CN¥0.24 (vs CN¥0.22 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥2.43b (up 21% from FY 2019). Net income: CN¥208.3m (up 9.3% from FY 2019). Profit margin: 8.6% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥2.52b (up 25% from FY 2019). Net income: CN¥208.3m (up 9.3% from FY 2019). Profit margin: 8.3% (down from 9.5% in FY 2019). The decrease in margin was driven by higher expenses. Announcement • Mar 19
Luzhou Xinglu Water (Group) Co., Ltd. to Report Fiscal Year 2020 Results on Mar 30, 2021 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report fiscal year 2020 results on Mar 30, 2021 Announcement • Feb 28
Luzhou Xinglu Water (Group) Co., Ltd. Enters into the Xinglu Jutai Construction Service Agreement with Xinglu Jutai Construction On 26 February 2021, Luzhou Xinglu Water (Group) Co., Ltd. entered into the Xinglu Jutai Construction Service Agreement with Xinglu Jutai Construction, pursuant to which, the Company agreed to provide water supply pipelines installation services to Xinglu Jutai Construction. The project under the Xinglu Jutai Construction Service Agreement is No. 090 Land Parcel, No. 111 Buildings and the Underground Garage which is located in Jiangnan New District
of Luzhou City, the PRC. The tap water pipelines installation services that the Company agreed to provide to Xinglu Jutai Construction under the Xinglu Jutai Construction Service Agreement include: the installation of water pipelines from the municipal water transporting and distributing principal pipelines to the pipelines before the commercials balance meters; the installation of fire mains; the installation of commercials balance meters; and the installation of the secondary water supply equipment and the auxiliary equipment. The final construction service fee under the Xinglu Jutai Construction Service Agreement will be not more than an estimated amount of RMB7 million (tax
inclusive) and shall be determined by Xinglu Jutai Construction and the Company, based on the final mapping report and the actual costs and expenses set out in the settlement report. Payments shall be made in the following manner: Approximately RMB 5.1 million shall be paid by Xinglu Jutai Construction within five (5) business days after signing the Xinglu Jutai Construction Service Agreement; and the balance of the final construction service fee
shall be paid by Xinglu Jutai Construction after the completion of the substantial construction works and prior to the issuance of installation notice of commercials balance meters by the Company. Two years commencing from the examination and acceptance date of the construction work of the project under the Xinglu Jutai Construction Service Agreement. Is New 90 Day High Low • Feb 01
New 90-day low: HK$0.95 The company is down 15% from its price of HK$1.12 on 03 November 2020. The Hong Kong market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is up 11% over the same period. Announcement • Jan 29
Luzhou Xinglu Water (Group) Co., Ltd. Enters into the Luzhou Aviation Construction Service Agreement with Luzhou Aviation Development Company Luzhou Xinglu Water (Group) Co., Ltd. entered into the Luzhou Aviation Construction Service Agreement with Luzhou Aviation Development Company in relation to the service of installation and construction of water supply pipelines of Luzhou Aviation Development Company from the Company for a construction period form 20 June 2020 to 31 December 2020. On 28 January 2021 (after trading hours), the Supplemental Agreement was entered into by Luzhou Aviation Development Company and by the Company to adjust the term of the Luzhou Aviation Construction Service Agreement to a period from 10 February 2021 to 31 December 2021. No consideration was paid/payable under the Supplemental Agreement. Parties are Luzhou Xinglu Water (Group) Co., Ltd. and Luzhou Aviation Development Company. The Company agreed to provide water supply pipelines installation and construction services to Luzhou Aviation Development Company pursuant to the Luzhou Aviation Construction Service Agreement which was entered into by the Company and Luzhou Aviation Development Company on 19 June 2020 and expired on 31 December 2020. Construction Period is from 10 February 2021 to 31 December 2021. The final construction service fee under the Luzhou Aviation Construction Service Agreement and the Supplemental Agreement shall be determined by the costs and expenses actually incurred in accordance with relevant regulations and codes and shall be not more than RMB 19.6 million, comprising of (1) RMB 17.0 million for the Kongtian Project, (2) RMB 1.0 million for the Relocation Project, and (3) RMB 1.6 million for the Power Project. The breakdown of the construction service fee of RMB 19.6 million under the Luzhou Aviation Construction Service Agreement and the Supplemental Agreement is as follows: (i) estimated public pipelines network construction fee of RMB16.35 million; (ii) estimated courtyard pipelines network construction fee of RMB2.25 million and (iii) estimated relocation project fee of RMB1.0 million. Is New 90 Day High Low • Dec 10
New 90-day low: HK$1.00 The company is down 19% from its price of HK$1.23 on 11 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is flat over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: HK$1.09 The company is down 11% from its price of HK$1.23 on 26 August 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is up 1.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: HK$1.15 The company is down 4.0% from its price of HK$1.20 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 10.0% over the same period. Announcement • Aug 31
Luzhou Xinglu Water (Group) Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Luzhou Xinglu Water (Group) Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020