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CSCI Announced its 2017 Interim Results

2017-08-22
CSCI Announced its 2017 Interim Results


(22 August 2017) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2017 interim results today. For the six months ended 30 June 2017, the revenue was HK$22,966 million, representing an increase of 21.9% as compared with the same period of last year. The unaudited profit attributable to the owners of the Group was HK$2,493 million, representing an increase of 10.7% as compared to the same period of last year. The core profit attributable to the owners of the Group was HK$2,092 million, representing an increase of 60.8% as compared with the same period. Basic core earnings per share increased by 46.0% to HK46.62 cents. The Board declared the payment of an interim dividend of HK15.00 cents per share, representing about 27% of dividend payout ratio.


In the first half of the year, the global economy saw steady growth with pickups in the manufacturing industry and trading. The market showed greater confidence but was still concerned about the future. The commodity prices were gradually stabilized. The Federal Reserve delivered the second rate hike during the year and planned to reduce the size of its balance sheet gradually. Other major economies such as the European Union and Japan reported better-than-expected growth rates. China’s overall economic development was stable with certain improvement.


The Group also announced that CSCI proposed to raise about HK$6.36 billion (before expenses) by issuing 1 new share for 8 existing shares at subscription price of HK$11.33 this afternoon. The purpose of the rights issue is to capture the booming development of infrastructure investment market in PRC. The rights issue will achieve the continual improvement of CSCI’s operating scale and profitability and generate better return for shareholders. The parent’s commitment of fully subscription shows its strong confidence on CSCI’s outlook of business development and great support.


In the second half of the year, the market will pay close attention to the balance sheet position of the Federal Reserve, the global macroeconomic trends as well as the geopolitical changes. The Group will precisely capture the trends of macro economy and industry development. Forward-looking operation strategies will also be formulated. This serves to raise the capabilities in market research and judgement as well as responsiveness to confront the external changes in operation environment in a proactive manner. Committed to the operation strategy of “Exercising Caution in Details and Implementation; Building a Strong Foundation to Seek Greater Success”, the Group carries out thorough investigations and researches into the market situations in a timely manner. Market opportunities are accurately grasped and operation risks are prevented and mitigated. This effectively maintains the comprehensive management standards for the projects. The Group puts great efforts in its core business of construction and infrastructure investment so as to continuously strengthen its corporate value and market competitiveness.


Adhering to the working philosophy of “prudent and progressive operation with good quality”, the construction business of Hong Kong and Macau adapts to the trends and further integrates the internal and external advantages and resources. The valuable experience in the investment-driven contracting business is consolidated in a timely manner. The fully proven investment-driven contracting model is strongly promoted and the proportion of equity investment projects is raised. This enhances the market competitiveness in public and private construction, thereby improving the Group’s overall profitability. The Mainland investment business adheres to the state policy and accelerates the implementation of the development strategies for transformation and upgrade. The PPP model is innovatively expanded to promote the development in breadth and depth of the 3+ business models: “Government Platform +”, “Prefabricated Construction +” and “Industrial Integration +”. Regional development strategies and differentiated competition strategies are sensibly implemented. In the eastern region where the economy and infrastructure are more developed, the integrated quality-enhancing businesses such as new industrial towns, underground tunnels, sponge cities, etc. are strongly promoted. In the western region where the economy and infrastructure are less developed, large-scale infrastructure projects such as expressways, railways, etc. are heavily developed. This leads to the better and more rapid development of the investment business.


FEG (830.HK) is committed to the working approach of “Seize the Market, Build the Brand” and adheres to the bidding strategies of “Big Clients, Big Markets”. Synergistic and collaborative advantages of the resources of the whole industry chain such as global allocation design, procurement, production, installations, etc., are brought into play. Positive momentum is maintained for external market development. Internal control is enhanced and the bidding costs are controlled. This also strengthens the connections among the units within the system and stabilizes the internal market.

Project List

Central-WanChai Bypass-Tunnel (Causeway Bay Typhoon Shelter Section)
Central-WanChai Bypass-Tunnel (Causeway Bay Typhoon Shelter Section)

HongKong-Zhuhai-Macao Bridge Hong Kong Link Road
HongKong-Zhuhai-Macao Bridge Hong Kong Link Road

Chek Lap Kok - Passenger Terminal Building
Chek Lap Kok - Passenger Terminal Building

Details Design & Construction of Sheng Shui Slaughterhouse
Details Design & Construction of Sheng Shui Slaughterhouse

Construction of UC Hong Kong Centeral Library at Causeway Hong Kong
Construction of UC Hong Kong Centeral Library at Causeway Hong Kong