China Everbright Water

What China Everbright Water does

China Everbright Water Limited is a Bermuda-incorporated, dual-listed water environment management company (HKEX: 1857; SGX: U9E) operating as a subsidiary of China Everbright Environment Group Limited. The company runs an integrated portfolio spanning municipal and industrial wastewater treatment, reusable water, raw water protection and supply, river-basin ecological restoration, sludge treatment, and livestock manure resource utilization, delivered through 172 environmental protection projects across 13 Chinese provinces plus select international markets in Mauritius and Thailand. Total designed daily water treatment and supply capacity exceeds 7.6 million m3/day, with cumulative project investment of approximately RMB31.85 billion as of December 2025.

The company combines asset-heavy project investment under BOT, TOT, and PPP concession arrangements with asset-light services including O&M, EPC, EPCO, equipment supply, and technical services. Proprietary technology assets include an integrated intelligent oxygen-supply system appraised at internationally-leading level, sulfur-based autotrophic denitrification, high-density sludge treatment, and a 'dark factory' automation model with AI-driven visual inspection and intelligent dosing. Equipment supply, energy management contracting (EMC), and solar power generation (approximately 20 MWp installed) represent emerging product extensions.

FY2025 revenue was HK$5.36 billion (down 22% year-on-year) with EBITDA of HK$1.93 billion and profit attributable to equity holders of HK$842.48 million; gross margin improved 6 percentage points to 44%. The customer base is primarily Chinese municipal and district-level governments supplemented by industrial parks and enterprises in electronics, chemical, and manufacturing sectors. Capital is raised through dual equity listings and Chinese Mainland medium-term note issuance (RMB3.2 billion in 2025).

Name

China Everbright Water

Legal name

China Everbright Water Limited

Website

https://ebwater.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

China Everbright Water is a dual-listed water environment management company providing municipal and industrial wastewater treatment, reusable water, and river-basin restoration to Chinese governments and industrial parks across 172 projects in 13 provinces.

Ownership category

akta.pro rank

Product category

Water and Wastewater Treatment Services

NAICS

Water, Sewage and Other Systems (2213), Sewage Treatment Facilities (22132), Utilities (221), Water Supply and Irrigation Systems (22131)

SIC

Water Supply (4941), Electric, Gas & Sanitary Services (4900), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Advanced Treatment & Purification Utilities (MF/UF, RO, AOP, UV) (EUANAGAD)

akta.pro secondary industries

Water Treatment Plant Construction (Drinking Water) (IMAFAGAA), Water Reuse & Reclamation Infrastructure Construction (Recycled Water Systems) (IMAFAGAH), Water & Wastewater Infrastructure Asset Management (EUAEAMAH), Water & Wastewater Treatment Plant Equipment (Clarifiers, Aeration, Membrane Systems) (IMAHAEAJ)

Keywords

• Wastewater treatment services
• Water environment management
• Industrial wastewater treatment
• River basin restoration
• Reusable water supply

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Water Treatment and Supply Services: Revenue from municipal wastewater treatment, industrial wastewater treatment, reusable water supply, and water supply projects operated under BOT, TOT, and PPP concession arrangements. Returns are generated through treatment fees, water supply tariffs, and service charges over concession periods.
2. Engineering, Procurement and Construction (EPC): Engineering design, procurement, and construction services for water treatment facilities. One-time project-based revenue.
3. Operations and Management (O&M) Services: Asset-light services including operation and management of water treatment facilities owned by third parties. Generates recurring service fees.
4. Equipment Supply and Technical Services: Supply of specialized water treatment equipment and technical services including the company's proprietary intelligent oxygen-supply equipment sold externally.
5. Energy Management Contracting (EMC): Energy efficiency projects including solar power generation facilities and energy management contracts generating revenue through cost savings sharing arrangements.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

China Everbright Water is an integrated water environment management company that delivers full industry-chain services spanning raw water protection, municipal and industrial wastewater treatment, reusable water supply, sludge treatment, livestock and poultry manure resource utilization, and river-basin ecological restoration. The company invests in, designs, builds, and operates water infrastructure projects under BOT, TOT, and PPP concession models, and also provides asset-light EPC, EPCO, O&M, equipment supply, and technical services. It operates 172 environmental protection projects with total designed daily water treatment and supply capacity exceeding 7.6 million m3 across 13 Chinese provinces plus overseas markets.

Product overview

China Everbright Water (光大水務/中國光大水務有限公司) operates as an integrated water environment management company offering comprehensive water-related services through a full industry chain model. The core product portfolio includes municipal wastewater treatment, industrial wastewater treatment, river-basin ecological restoration, raw water protection and water supply, reusable water, sludge treatment and disposal, and livestock manure resource utilization. These services are delivered through project investment (BOT/TOT/PPP models), planning and design, technology R&D, engineering and construction, and operations management. The company operates 172 environmental protection projects across 13 Chinese provinces with total designed daily water treatment capacity exceeding 7.6 million m3, supported by technology platforms including intelligent oxygen-supply equipment, dark factory automation, and AI-driven operational systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Municipal Wastewater Treatment Services Collection and treatment services for municipal and residential wastewater under BOT, TOT, and PPP concession models, serving major Chinese cities including Qingdao, Zibo, Jinan, and Dalian, including capacity upgrades and plant expansions.
• Industrial Wastewater Treatment Services Specialized wastewater treatment for industrial applications including microelectronics parks, chemical, pharmaceutical, and manufacturing sectors, using high-density treatment systems that meet specific industrial discharge standards.
• River-basin Ecological Restoration Comprehensive river-basin ecological restoration including river training, water quality improvement, ecosystem rehabilitation, and sponge city construction delivered as PPP projects in cities such as Nanjing, Zhenjiang, and Nanning.
• Raw Water Protection and Water Supply Water source protection for drinking water supplies, water supply infrastructure for industrial and municipal users, and inter-basin water transfer projects such as the Zhangqiu Yellow River Water Transfer Project.
• Reusable Water Services Water recycling and reclamation services that treat wastewater to standards suitable for industrial reuse, with combined designed daily water supply capacity exceeding 320,000 m3 across projects in Jinan, Zibo, Jiangyin, Nanjing, and Tianjin.
• Sludge Treatment and Disposal Sludge drying and processing services for water treatment plants, including projects in Liaoning Province such as the Anshan Municipal Sludge Disposal Project and Dandong Waste Water Treatment Plant Sludge Drying Project.
• Livestock and Poultry Manure Resource Utilisation Agricultural waste resource utilization services that convert livestock and poultry manure into usable resources, including the Nanxiong project in Guangdong Province with daily treatment capacity of 300 tonnes.
• Engineering Design and Project Management Services Engineering construction and project management services with qualifications including Grade A for Environmental Protection Engineering Projects, Grade B for Mechanical and Electrical Installation, and Safe Production License.
• Operations Management Services Asset-light operations management services including O&M, EPC, EPCO (Design-Procurement-Construction-Operation), equipment supply, and technical services for water treatment facilities, including those owned by third parties.

Quantifiable outcome

• 44% gross profit margin in FY2025, improved 6 percentage points year-over-year
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

One partnership is on record.

• Hong Kong University of Science and Technology (HKUST)coreStrategic or Co-development Partner · 2 June 2026Everbright Water signed a strategic partnership agreement with HKUST at the university's annual Unicorn Day event on June 2, 2026. The partnership aims to advance talent development and research translation, leveraging HKUST's research capabilities and the company's water environment management expertise.

Scale indicators24 records

Recent moves6 records

Expansion highlights6 records

Others

• China Everbright Environment Group: Parent company and Hong Kong-listed (257.HK) diversified environmental services group. While not a peer in the competitive sense, the relationship means capital allocation, governance, and segment strategy are tightly linked to Everbright Water's outlook.
• Xylem: Global water technology company supplying pumps, treatment equipment, and smart water infrastructure. Relevant as a supplier/peer on the equipment side of Everbright Water's stack, particularly for intelligent oxygen-supply and treatment plant equipment.

Direct peers

• China Water Affairs Group: Hong Kong-listed (855.HK) integrated water supplier and wastewater treatment operator with extensive municipal concession portfolio across China. Directly competes for the same municipal tendering opportunities and shares Everbright Water's B2G concession-driven revenue model.
• Canvest Environmental Protection Group: Hong Kong-listed (1381.HK) environmental services group with significant waste-to-energy and water/wastewater operations in southern China. Overlaps with Everbright Water on municipal environmental infrastructure and competes for government tenders in Guangdong and adjacent provinces.
• Beijing Enterprises Water Group: One of China's largest municipal water and wastewater treatment companies, also Hong Kong-listed (371.HK). Direct competitor for BOT/TOT municipal concessions and industrial wastewater projects in China, with similar full-chain coverage and government counterparty base.
• Guangdong Investment: Hong Kong-listed (270.HK) conglomerate with substantial water supply and wastewater treatment operations in Guangdong through its subsidiary. Competes with Everbright Water for southern China municipal projects and shares the long-term concession model.

Broad incumbents

• Veolia Environment: Global water and wastewater utility major with operations across municipal and industrial segments. Comparable to Everbright Water on technology and asset management capabilities, but operates at vastly greater scale and across multiple geographies.
• American Water Works: Largest US-listed water and wastewater utility operating regulated municipal water/wastewater concessions. Provides a useful benchmark for valuation multiples and operating metrics, though structurally distinct given US regulatory framework.
• Suez Water Technologies & Solutions: International water treatment and infrastructure operator with municipal and industrial wastewater capabilities. Comparable on technology stack and project delivery model, though typically larger scale and serving different geographies.

Regional players

• Kunming Water Treatment & Reuse Co. Regional water utility operating in southwestern China with municipal treatment concessions. Comparable in business model and customer type to Everbright Water's municipal operations, but focused on Yunnan province rather than nationwide.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries14 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China Everbright Water