Water stocks had the highest gains in early trading. As of press release, Beijing Holdings Water Group (00371) rose 5.14% to HK$2.25; Guangdong Investment (00270) rose 4.4% to HK$4.51; and China Water (00855) rose 2.58% to HK$5.17.
The Zhitong Finance App learned that water stocks had the highest increase in early trading. As of press release, Beijing Holdings Water Group (00371) rose 5.14% to HK$2.25; Guangdong Investment (00270) rose 4.4% to HK$4.51; and China Water (00855) rose 2.58% to HK$5.17.
According to the news, on May 9, Guangzhou held a hearing on the water price reform plan in central urban areas. Earlier, on April 3, the Guangzhou Municipal Development and Reform Commission announced the “Guangzhou Central City Tap Water Price Reform Plan (Hearing Edition)”, which proposed two sets of tap water price adjustment plans for public comment. The average water supply price of both plans is 3.4 yuan/cubic meter (tax included), which is a 34% increase compared to the current average water supply price; mainly the extent to which residents and non-residents share the increase in water supply prices is different.
Everbright Securities pointed out that the local water industry is expected to enter a new cycle of price increases to ensure the high-quality operation of existing projects. The bank is optimistic that water companies with excellent quality will achieve steady development through high-quality operation capabilities. Sino-Thai International said earlier that the 2024 tap water price increase cycle is expected to begin nationwide, and the water supply industry has investment highlights.