China Communications Construction (601800.SH) announced semi-annual results with net profit of 11.399 billion yuan, down 0.59% year on year

According to the Zhitong Finance App, China Communications Construction (601800.SH) disclosed its 2024 semi-annual report. During the reporting period, the company achieved revenue of 357.448 billion yuan, a year-on-year decrease of 2.52%; net profit to mother of 11.399 billion yuan, a year-on-year decrease of 0.59%; deducted non-net profit of 10.623 billion yuan, a year-on-year decrease of 3.02%; and basic earnings per share of 0.66 yuan. The company plans to distribute a cash dividend of RMB 1.4005 (tax included) to all shareholders for every 10 shares.

In 2024, the company continued to focus on its main business in market development, and made every effort to promote the “internationalization and upgrading of the company” and accelerate the development of new quality productivity. The amount of new contracts signed in the first half of the year was 960.867 billion yuan, an increase of 8.37% over the previous year, and 48% of the annual target was achieved (based on an increase of 13.5% on the basis of the new contract amount of 17.53.215 billion yuan signed in 2023). Among them, infrastructure construction business, infrastructure design business, dredging business and other businesses were 863.378 billion yuan, 32.656 billion yuan, 59.683 billion yuan, and 5.150 billion yuan, respectively.

The amount of new contracts signed by various businesses from overseas regions was 196.065 billion yuan (approximately US$27.821 billion), an increase of 38.88% over the previous year, accounting for about 20% of the company's new contract amount. Among them, infrastructure construction business, infrastructure design business, dredging business and other businesses were 191,391 billion yuan, 1,413 billion yuan, 2,601 billion yuan, and 660 million yuan respectively. According to the company's stock ratio, each business confirmed that the contract amount for infrastructure and other investment projects was 60.82 billion yuan, and it is estimated that the Group can undertake construction and security contracts of 54.629 billion yuan in design and construction. As of June 30, 2024, the Group held 3,536,243 billion yuan in outstanding contracts.