SJW Latest Report

Key Financial Data

1. SJW's total operating revenue at December 31, 2024 was RMB197,820,000, up 15.43% from RMB171,338,000 at December 31, 2023.

2. The Company's consolidated net income reached US$20,696 in the second quarter of 2024, up approximately 13% from the same period in 2023.

3. The consolidated net income in the first half of 2024 was US$32,395, up approximately 9% from the same period in 2023.

4. SJW's operating revenue in the second quarter of 2024 was US$17,617,174, up approximately 12.3% from US$15,688,86 in the same period of 2023.

5. Revenue from water services was US$17,539,700, up approximately 12.8% from US$15,547,000 in the same period of 2023.

Peer Comparison

1. Industry-wide analysis: The overall operating revenue of SJW's industry generally shows an upward trend, driven by increased industry demand and price hikes. The rise in California water prices and increased customer water usage have contributed to the sustained growth of the entire industry.

2. Peer evaluation analysis: SJW's operating revenue growth rate of 15.43% is higher than the industry average, indicating strong market performance and possibly a larger market share and customer satisfaction.

Summary

SJW's operating revenue and net income both achieved significant growth in 2024, reflecting the rise in market demand and the success of business expansion. Despite challenges such as rising water production costs, the overall economic environment and industry growth trend still provide good development opportunities for the Company.

Opportunities

1. Continue to benefit from the rise in California water prices and enhance revenue levels.

2. The increase in customer water usage, as California ends mandatory water conservation requirements, will continue to drive revenue growth.

3. The Company can further enhance its competitiveness and expand its market share through innovative services and products.

Risks

1. The rise in water production costs and interest expenses may affect the Company's profitability.

2. Intensified competition within the industry may pose a threat to its market share.

3. Uncertainty in the macroeconomic environment may affect the stability of industry-wide demand.