Edison Investment Research - General Industrials - China Water Affairs Group: Better-than-expected growth in profitability in FY18, a higher than forecast DPS and a favourable market outlook are clearly positive for China Water Affairs (CWA). We forecast continuing growth over the next few years and have raised our valuation to HK$10 per share. At that price, CWA would trade on a forward-looking P/E multiple of 13.1x, a c 15% discount to our group of selected peers.
ISIN: BMG210901242
Original Article: China Water Affairs Group (855) - FY18 exceeds forecasts