Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>In FY20, despite a very challenging operating environment, China Water Affairs (CWA) delivered another year of growth for shareholders. Requirements for environmental expenditure in the Chinese water sector present opportunities for it to extend its track record of growing returns into FY21 and beyond. This opportunity does not appear to be reflected in CWA’s current modest market rating of an FY21e P/E multiple of 5.6x.</p>

In FY20, despite a very challenging operating environment, China Water Affairs (CWA) delivered another year of growth for shareholders. Requirements for environmental expenditure in the Chinese water sector present opportunities for it to extend its track record of growing returns into FY21 and beyond. This opportunity does not appear to be reflected in CWA’s current modest market rating of an FY21e P/E multiple of 5.6x.

China Water Affairs Group - Growth opportunities remain