China Water Affairs Group Limited is an investment holding company principally engaged in water supply, environmental protection, and property development and investment businesses in the People's Republic of China. The company operates through City Water Supply; Pipeline Direct Drinking Water Supply; Environmental Protection, including sewage treatment, drainage operation and construction, solid and hazardous waste management, environmental sanitation, and water environment management; Main Contractor Construction for municipal public works; and Property Development and Investment segments, providing comprehensive services such as water supply operations and construction, installation and maintenance of pipelines and water meters, sewage treatment, and value-added services like water resources projects. Founded in 1999 and formerly known as China Silver Dragon Group Limited until its name change in December 2004, China Water Affairs Group Limited is headquartered in Wan Chai, Hong Kong, with operations management centers in Beijing and Shenzhen, serving over 30 million people across 24 provinces, direct-administered municipalities, and autonomous regions in Mainland China through more than 60 water supply projects and numerous wastewater treatment facilities. In recent developments, the company, together with Chairman Duan Chuan-liang and Sharp Profit Investments Limited, completed a mandatory unconditional cash offer in September 2025 to acquire additional shares and options in Kangda International Environmental Company Limited, increasing its control to approximately 54.01% of Kangda's issued share capital for around HKD 330 million, enhancing its position in environmental services; additionally, it repurchased 5,610,000 ordinary shares for HKD 32.5 million as disclosed in its 2025 Annual Report to optimize capital structure, and successfully launched RMB 1 billion AA-rated blue bonds in early 2025 to fund sustainable projects including sewage treatment and pipeline repairs in Hunan Ningxiang.