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Public company info - Taizhou Water Group Co. Ltd. - H Shares , 01542.HK
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Taizhou Water Group Co. Ltd. - H Shares, 01542.HK - Company Profile
Chairman Yang Jun
Share Issued (share) 50,000,000
Par Currency Renminbi
Par Value 1.0
Industry Water Supply
Corporate Profile Business Summary: The group is principally engaged in supplying raw water, municipal water and tap water directly to end-users and the installation of the water pipelines for distributing tap water to end-users. Performance for the year: Revenue from the Continuing Operations for the year amounted to approximately RMB472.1 million, representing a decrease of approximately 6.4% from the year ended 31 December 2018. Profit from the Continuing Operations for the year amounted to approximately RMB104.5 million, representing a decrease of approximately 13.1% from the year ended 31 December 2018. Profit attributable to owners of the Company for the year amounted to approximately RMB92.5 million, representing a decrease of approximately 16.3% from the year ended 31 December 2018. Basic earnings per share for the year amounted to approximately RMB0.62, representing a decrease of approximately 16.2% from the year ended 31 December 2018. Business Review As a leading water supply service provider in Taizhou, the Group’s principal businesses are supply of raw water, municipal water and tap water, ranking the first in Taizhou in terms of raw water and municipal water supply. The Group also offers tap water directly to end-users and engages in the installation of water pipelines for distributing tap water to end-users. The Group owns, operates and manages the Taizhou Water Supply System (Phase I) and the Taizhou Water Supply System (Phase II). The designed raw water supply capacity is approximately 740,000 tonnes per day, and the municipal water supply capacity is 366,000 tonnes per day in the South Area of Taizhou. The Group has commenced the construction of the Taizhou Water Supply System (Phase III) and the Taizhou Water Supply System (Phase IV) in February 2018 and November 2018, respectively. 1. Raw Water Supply Project The designed water supply capacity of Taizhou Water Supply System (Phase I) is 250,000 tonnes per day, and the raw water is supplied to local municipal water service providers and Wenling Zeguo Water Supply Co., Ltd. (“Wenling Zeguo Water Supply”), a wholly-owned subsidiary of the Company. The raw water supply capacity of Taizhou Water Supply System (Phase II) is 490,000 tonnes per day, of which 380,000 tonnes per day is supplied to Taizhou Water Treatment Plant of the Group. For the year ended 31 December 2019, the raw water sales volume of the Group was 108.2 million tonnes, representing a decrease of approximately 3.3% as compared with 111.9 million tonnes for the year ended 31 December 2018. Such decrease was primarily attributable to the higher rainfall volume in 2019 as compared with 2018. According to the information of Taizhou City Water Information Release Center (台州市水情發佈中心), the average rainfall volume in Taizhou increased by 32.6% from 1,452.3 mm in 2018 to 1,925.9 mm in 2019. The higher rainfall volume led to the increase in water stored in the reservoirs of the Group’s customers, which are small to medium in size, and therefore decreased their demand for raw water supply. 2. Municipal Water Supply Project Taizhou Water Treatment Plant of the Taizhou Water Supply System (Phase II) has a designed municipal water supply capacity of 366,000 tonnes per day and is responsible for selling municipal water to local municipal water service providers. For the year ended 31 December 2019, municipal water sales volume was 125.5 million tonnes, representing a decrease of approximately 10.0% as compared with 139.4 million tonnes for the year ended 31 December 2018. Such decrease was caused by the higher rainfall volume in 2019 as compared with 2018, which led to the increase in water stored in the reservoirs of the Group’s customers, which are small to medium in size, and therefore decreased their demand for municipal water supply. 3. Tap Water Supply Project As at 31 December 2019, the Group was responsible for supplying tap water to endusers of Zeguo Town (including commercial users, government authorities, industrial users and residential households in Zenguo Town, Wenling City). For the year ended 31 December 2019, tap water sales volume was 10.4 million tonnes, representing a decrease of approximately 3.7% as compared with 10.8 million tonnes for the year ended 31 December 2018. 4. Installation Services In connection with tap water supply services, the Group undertakes water pipeline installation works to connect new end-users to the Group’s pipeline network and charges an installation fee for such services. The “One account, One water meter (一戶一錶)” water meter renovation projects have further expanded the Group’s installation business. For the year ended 31 December 2019, revenue from installation services amounted to RMB10.9 million, representing an increase of approximately 58.0% as compared with RMB6.9 million for the year ended 31 December 2018. 5. Construction Project Construction projects in progress of the Group are the Taizhou Water Supply System (Phase III) and the Taizhou Water Supply System (Phase IV). The construction of the Taizhou Water Supply System (Phase III) commenced in February 2018 and is expected to complete in February 2022, aiming to supply water to the Taizhou Bay Economic Zone and to resolve the increasing water demand in the areas the Group have already supplied water to. The designed raw water supply capacity of Taizhou Water Supply System (Phase III) is 580,000 tonnes per day in the short term and 1,000,000 tonnes per day in the long term; and the designed municipal water supply capacity is 284,000 tonnes per day in the short term and 884,000 tonnes per day in the long term. The construction of Taizhou Water Supply System (Phase IV) commenced in November 2018 and is expected to complete in April 2022, aiming to supply water to South Bay Zone of Taizhou and to provide raw water and municipal water at the same time. In the short term, the designed raw water supply capacity is 150,000 tonnes per day, and the designed municipal water supply capacity is 100,000 tonnes per day. In the long term, the designed raw water supply capacity is 300,000 tonnes per day, and the designed municipal supply water capacity is 200,000 tonnes per day. As at 31 December 2019, foundation formation works and laying of water tunnels and pipelines of the Taizhou Water Supply System (Phase III) were under way, while foundation formation works and laying of water tunnels of the Taizhou Water Supply System (Phase IV) have commenced. Prospects: In 2019, while operating the Taizhou Water Supply System (Phase I) and the Taizhou Water Supply System (Phase II) in a sustainable manner, the Group advanced its own development through the extension of the water supply network and geographic coverage in Taizhou. In order to enhance the stability and security of water supply and resolve the general water shortage issue in the Taizhou Bay Economic Zone and the South Area of Taizhou, the Group had obtained approval from the Taizhou Development and Reform Commission (台州發展和改革委員會) to develop the Taizhou Water Supply System (Phase III) and the Taizhou Water Supply System (Phase IV), both of which were accredited as the Zhejiang Province Key Construction Project (浙江省重點建設項目). The Group strengthened these two onsite project management and focused on the quality control to ensure that the projects will complete and commence trial operation as scheduled. Upon the completion and operation of these projects, the Group will witness a great improvement of raw water and tap water supply capacity. While consolidating its own strength, the Group also actively expanded its downstream business to build a complete industry value chain. During the Reporting Period, the Group was responsible for tap water supply to villages and towns of Zeguo Town, Wenling City, and the geographic coverage of the water supply was relatively limited. Upon the completion of Taizhou Water Supply System (Phase III) and Taizhou Water Supply System (Phase IV), the Group intends to apply for the relevant permit to offer tap water directly to end-users, which will drive the Group’s tap water supply capacity and profitability to a new level.

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