According to the Guolian Securities Research Report, China Construction's construction business signed a new contract amount of 2,987.4 billion yuan in January-September, yoy +8%; the amount of new contracts signed in September alone was 369.1 billion yuan, yoy -3%, with slight monthly fluctuations. The growth in new construction business signed in the first three quarters maintained good growth resilience. The bank believes that in the context of changes in the infrastructure and real estate industry situation, the company's leading position as a major field may continue to strengthen. The current price corresponding to 2024E PE and dividend rates are expected to be 4.5x and 4.6%, respectively. The valuation is cost-effective and maintains a “buy” rating.

According to the Guolian Securities Research Report, China Construction's construction business signed a new contract amount of 2,987.4 billion yuan in January-September, yoy +8%; the amount of new contracts signed in September alone was 369.1 billion yuan, yoy -3%, with slight monthly fluctuations. The growth in new construction business signed in the first three quarters maintained good growth resilience. The bank believes that in the context of changes in the infrastructure and real estate industry situation, the company's leading position as a major field may continue to strengthen. The current price corresponding to 2024E PE and dividend rates are expected to be 4.5x and 4.6%, respectively. The valuation is cost-effective and maintains a “buy” rating.