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China State Construction International Holdings Limited Announced its 2015 Interim Results

2015-08-13
(13 August 2015) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2015 interim results today. For the year ended 30 June 2015, the Group’s unaudited profit attributable to the owners of the Group was HK$1,765 million, representing an increase of 21.0% as compared to the same period last year. The revenue was HK$16,976 million, representing an increase of 18.8% as compared with the same period of last year. Basic earnings per share increased by 17.3% to HK44 cents. The board of directors recommends the payment of a interim dividend of HK13.00 cents per share and a special dividend of HK2.00 cents per share for celebrating the 10th listing anniversary of the Company is also declared.

In the 1st half of 2015, the Group adopted an operation strategy of “compliance and prudent development to support the robust and rapid development of the Company”. The Company paid high attention to the compliance with laws and regulations of local governments to maintain sound operation. In the face of market changes, the construction markets in Hong Kong and Macau continued to grow in both residential and public sectors, resulting in higher pressure of shortage of resources. The measures to maintain economic growth under the new economic trends in Mainland China proved to be effective. More benefits of economic reform will be further realised. Investments in new infrastructure projects under the urbanisation process and the “One Belt, One Road” strategy maintained high growth rates. In the overseas market, the curtain wall market in North America gradually recovered. During the period under review, the Group was awarded a number of affordable housing and infrastructure projects, including a Highway Project in Bengbu, Anhui Province by way of Public-Private-Partnership (“PPP”) model for the first time in Mainland China. It is expected that this new investment model will be one of the new drivers for the Group’s performance.

In the 2nd half of 2015, the global economy will continue its slow recovery. Economies of developed countries will recover at a faster pace while economies of developing countries will see slower growth in general. In addition, exchange rate fluctuations, interest rate hike by the Federal Reserve Board and the aftermaths of the Greek debt crisis will increase the risks and uncertainties of global economic recovery.

In the 2nd half of the year, the Group will strictly follow national strategies such as “One Belt, One Road”, “Integration of Beijing-Tianjin-Hebei” and “Yangtze River Economic Zone”. It will also pay full attention to and study thoroughly the investment opportunities of Public-Private-Partnership (“PPP”). It will strive to explore new industrial models and keep stable growth of its infrastructure business to establish a sustainable and profitable operation model.

As to curtain wall business, Far East Global Group Limited will further promote its brand and market expansion and optimise internal management and control. In addition to proactively implementing projects with high margin in North America, Hong Kong and Macau, it will further explore investment opportunities in overseas and Mainland China in order to achieve its strategic transformation.

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