CSCI Announced its 2020 Interim Results

2020.08.21


(21 August 2020) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2020 interim results today. For the six months ended 30 June 2020, the revenue was HK$28,002 million, representing an increase of 1.7% as compared with the same period of last year. The Group’s profit attributable to owners of the company was HK$2,898 million. The Board declared the payment of an interim dividend of HK17.00 cents per share.

In 2020, the outbreak of the COVID-19 pandemic has brought upon huge impact on the global economy. This, together with the intensifying unilateralism and trade protectionism of large economies like the United States, have cast a shadow on the recovery of the global economy against the backdrop of the pandemic. Under the pressure of global economic downturn, developed countries, led by the United States, resumed their accommodative monetary policies, hoping to stimulate economic growth with huge supply of money. However, this increased the price volatility of the international capital market and bulk commodity trading market and the risk of resurgence of crisis, presenting even more challenges for global economic development. Looking back to the past five years, the Group adhered to its “Dual Core Driving Strategy of Construction and Investment”. Keeping pace with the development of China in this new era, we constantly innovated our business model and refined our management. By leveraging on the close interaction between domestic and overseas branches, we not only solidified our construction business in Hong Kong and Macau, but also vigorously explored investment in relevant businesses in Mainland China, while effectively addressing risks and challenges and promoting high quality development for our operations.

The year 2020 marks the end of the 13th five-year plan, based on the strategy of balance between scale of growth and leverage level, the Group actively adjusted its operational structure to utilize its core competitive advantage of “technology, capital, and solidarity within COHL”. We focused on the development of compliant investment projects with faster turnover and high yield rate in Mainland China, while securing our leading position in the market of Hong Kong and Macau, driving further growth of our result with technology, management and investment. Internally, we promoted detailed management and established effective management mechanism for each type of projects, achieving transparent process and controllable results. We also strengthened the classification and management of risks to ensure steady progression of projects. We placed emphasis on both production and capital operation, where we actively explored asset acquisition opportunities and established asset disposal mechanism and channels, so as to enhance our operational efficiency and accelerate asset turnover, laying a solid foundation for the continuous high quality development of the Group during the 14th five-year plan. Facing complex and fluid political and economic landscape as well as competition within the industry, determined strategies and steadfast executions are required to confront various uncertainties.

Looking forward, the Group will continue to uphold its tradition of “Committed Team-building; Perseverance; Ambition for Success; Strict Self-discipline and Conscious Devotion”, pursuing with daily effort to the vision of becoming “the world’s top investment and construction service provider”. In the latter half of the year, the Group will strive to be the pioneer of the industry, while adhering to the core values of customer-orientation, guaranteed quality and value creation. We will work together to actively address the COVID-19 and other challenges, surpass our previous achievements and achieve further success.