CCCC releases semiannual business report for 2019

Source:Board OfficeTime:2019-09-02

On August 30, CCCC released the semiannual business report for 2019. In the first half of 2019, CCCC stuck to market-oriented, global, intensive and differential development, effectively coped with the volatile internal and external situation, operated and improved its key business indicators steadily, to lay the groundwork for fulfilling its annual target.

According to the Chinese accounting standards for business enterprises, in the first half of 2019, CCCC registered operating revenues of RMB 240,300 million, up 15.3 percent year on year; a net profit of RMB 8,600 million attributable to the parent company's shareholders, up 4.9 percent year on year; earnings of RMB 0.47 per share; a total new contract amount of RMB 496,700 million, up 15.9 percent year on year; and an uncompleted contract amount of RMB 1,919,300 million, providing full guarantee for the sustainable development of CCCC.

For some time, CCCC's management has noticed that CCCC's H-share price has been far below its intrinsic value and fallen below its net assets value. To strengthen the equity and market value management of CCCC, enhance its market image and optimize its equity structure, CCCC's Board of Directors approved of repurchasing some H shares and canceling the purchased H shares by stage or in a once-off way. The cancellation will indirectly increase the shareholding ratio of original shareholders in CCCC and maintain their rights and interests. The motion will be implemented at an appropriate time after being adopted through deliberation at CCCC's general shareholders' meeting.

In the second half of 2019, CCCC will follow national strategies, seize market opportunities and forge towards the goal of becoming a globally competitive enterprise. Besides, CCCC will continue to safeguard the interests of various investors, and reduce market risks by effective means to provide the best return for investors.