CCCC releases business report for first half of 2016

Source:Board OfficeTime:2016-09-02
CCCC held a business release conference on August 31, 2016, Executive Director & CFO Fu Junyuan and Board Secretary & Chief Economic Manager Liu Wensheng were present. At the release conference, the corporate leaders answered questions from investors, exchanging ideas with them on their concerns such as the prospect of new contract amount, the overseas development strategy, the funding and profiting of investment business, the influence of the replacement of business tax with value-added tax on CCCC, the year-on-year increase in operational cash outflow and the increase in financial expenses.The release conference drew wide attention from the capital market, with the participation of individual investors, as well as over 120 domestic and overseas institutional investors such as Citibank, HSBC, UBS Securities.

In the first half of 2016, under the mounting pressure of economic downturn, CCCC proactively adapted to and played a leading role in the “new normal” of economy, seized the macro development trend, focused on the strategy of “experts in five areas” and the market positioning of “a partner to share the economic and social development responsibilities of government, a participant to deeply involve in the regional economic development and a quality public service provider for government procurement”, strengthened and optimized overseas business, optimized investment business, enhanced the awareness of cost control, strictly controlled administration expenses, strove to improve its profitability and achieved good results. According to the Chinese accounting standards for business enterprises, in the first half of 2016, CCCC achieved operating revenues of RMB183,439 million and a net profit of RMB7,023 million attributable to the parent company's shareholders, up 4.0 percent and 7.7 percent year on year respectively. Also, CCCC registered earnings of RMB0.38 per share. In the first half of 2016, CCCC maintained a good momentum in market development, had abundant orders in hand, further improved its business structure, and achieved a new contract amount of RMB283,795 million, up 7.6 percent year on year, and an uncompleted contract amount of RMB942,299 million as of June 30, 2016, up 8.6 percent from December 31, 2015.