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HTSC has raised the Target Price for Beijing Enterprises Water Group (00371.HK) to 2.85 yuan, expecting to benefit from the debt policy.
HTSC published a report stating that Beijing Enterprises Water Group (00371.HK) insists on a light asset transformation, with a net free cash flow of 37 million yuan in the first half of the year, turning positive year-on-year from negative. Although there may be certain pressures on short-term incoming payments, the water operations' collection is closely related to the government's fiscal payment capacity and is expected to benefit from improved cash flow due to debt reduction policies in the future. Under a stable dividend policy, the dividend yield reaches 6.6%, which is attractive. Therefore, the company's 'Buy' rating is maintained with a Target Price of 2.85 yuan. The report stated that it is believed that under the debt reduction policy and the trend of user payments, Beijing Enterprises Water Group's future cash flow is expected to further increase.
Hong Kong stock Concept tracking | The financial 10 trillion debt reduction plan has been implemented. Institutions are Bullish on the Eco-friendly Concept Industry bringing positive impacts (including Concept stocks).
The Central Financial Office: Debt should be transformed through development, and development should be achieved through debt transformation, effectively preventing and resolving local government debt risks.
Tianfeng: How will government debt relief in 2025 affect the Eco-friendly Concept public utility industry?
Debt restructuring is expected to relieve the pressure of receivables for eco-friendly enterprises, primarily through: issuing new Bonds to pay off corporate debts; alleviating government debt pressure, optimizing the pace of fiscal spending; and improving the business environment to create a positive cycle of economic development.
Hong Kong stock movement | BJ ENT WATER (00371) rose nearly 5% at the end of trading, with debt conversion expected to drive a recovery in Water Affairs valuation. Institutions say the company has outstanding resilience.
BJ ENT WATER (00371) rose nearly 5% at the close. As of the time of writing, it rose by 3.83%, priced at 2.44 HKD, with a transaction volume of 55.7084 million HKD.
Hong Kong stock concept tracking | Over 20 cities have initiated water price adjustment procedures. Institutions are bullish on the growth prospects of the water affairs sector (including concept stocks).
Accelerate the reform of water supply and drainage prices, release the demand for price adjustments and streamline the mechanism.
Beijing Enterprises Water Group (00371.HK) issued 1.5 billion Chinese yuan of perpetual csi enterprise bonds with coupon rates of 2.28% and 2.46%.
Beijing Enterprises Water Group (00371.HK) announced that its wholly-owned subsidiary Beijing Enterprises Water Group (China) Investment has completed the issuance of the second tranche of the renewable enterprise bonds for the year on November 27, consisting of two varieties with issuance sizes of RMB 0.5 billion and 1 billion respectively, and coupon rates of 2.28% and 2.46%.
