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BEWG Released 2016 Annual Report 2017-03-30

On March 30, 2017, BEWG held a meeting to announce its 2016 financial result in Hong Kong. Mr. Li Yongcheng, vice chairman of Beijing Enterprises Group Co., Ltd, and Chairman of board of BEWG, Mr. Zhou Min, executive director and chief executive officer of BEWG,  Mr. Li Li, executive director and chief operating officer, Mr. Dong Huanzhang, chief financial officer, and Mr. Wang Zhupin, vice president attended this meeting.

BEWG achieved the revenue from main operations of HK$17.355 billion, up by 29%, and the net profit attributable to parent company of HK$3.227 billion, up by 31% as compared to the last year; Its total assets amounted to HK$81.047 billion, up by approximately 26%, and basic earnings per share was HK37.04 cents, up by 31%. In recognition of the continuous support of the shareholders of BEWG, the board of directors of BEWG recommended to make a final distribution of HK6.0 cents per share to the shareholders.

BEWG Chairman Li Yongcheng stated in the meeting that BEWG continued leading the water service and environment protection industry in the background of enhanced water service environment worldwide. Currently, there is a huge market potential for promoting environmental quality in China, BEWG has been well prepared for this opportunity. Recently, BEWG has cooperated with many local governments, market participants and enterprises, and has accumulated good trust and support accordingly. In terms of environment treatment, the local governments have been innovating commercial modes and financing modes. The previous single water service projects have gradually been transformed to comprehensive treatment project for an area or a watershed. In order to deal with such change, BEWG, with the conventional business growing in large scale, had a strategic exploration, discussion and transformation with regard to establishment of ecological enterprise, the symbiosis and regeneration of affiliated enterprises in the industry.     

BEWG Chief Executive Officer Zhou Min indicated that big changes had happened in the water service industry environment. The competition has become more intense, and projects have tended to involve large scale and to be more complex. BEWG has initiated the ecological strategy: firstly, establish an ecological system. BEWG prefers a universal centralized ecological system. Many companies from different sectors such as water service companies, related industry companies, capital management companies, technology companies, work together to build this ecological system; secondly, transform BEWG to an ecological type enterprise. To establish an ecological system, we need to be open-minded, to pursue a relationship of symbiosis, alternation and regeneration for mutual benefits within the system. We need to collaborate with each other to gain integrated comprehensive project. The purpose of ecological strategy is to expand the space of BEWG in the whole environment field, to work together with relevant companies to create new growing opportunity to provide better products and services for governments.   

The annual report showed that BEWG kept its growing momentum in the operation in 2016 after strongly expanding its core operating business and emerging business. In terms of conventional water service, BEWG gained a newly-increased water output of 4,548,000 tons/day, with projects of 792,200 tons/day terminated due to the relevant contract expiration, resulting in a net increase of 3,755,800 tons/day. In addition, BEWG had signed a Tongzhou water environment comprehensive treatment PPP project which included a sewage treatment project of 2,000,000 tons/day. Therefore, as of December 31, 2016, the total design capacity of BEWG is up to 27,168,000 tons/day, covering 452 water plants in total.   

In terms of water environment treatment, BEWG had signed 11 water environment comprehensive projects in 2016, amounting to RMB￥15.099 billion in total. Up to now, BEWG had signed 4 projects in 2017, with the investment of RMB￥21.91 billion. Especially, the Water Environment Comprehensive Treatment PPP project for Beijing Subsidiary Administrative Center in Tongzhou, with the investment of RMB￥17.7 billion. This project has been called as "Emperor Project" in the industry. The winning of this project has fully indicated the comprehensive strength of BEWG.

BEWG stated that BEWG would push forward all the business to ensure rapid growth, strive to realize all the operation goals to bring steady growing return for the shareholders, with focus on "13th Five-year Plan" strategic goal of BEWG, following the main orientation of transformation into an ecological enterprise. 
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