China: “Five-Style CCCC” Strategy Implemented

On August 27, China Communications construction company Ltd. (CCCC) released its interim performance in 2014, holding a performance release conference online and offline to communicate with domestic and overseas investors.

Present were Executive Director and Financial Controller Fu Junyuan, as well as Board Secretary and Chief Economic Manager Liu Wensheng.

In the first half of 2014, the company effectively implemented the strategy of “five-style CCCC”, gradually released the bonus of reform and innovation, kept improving its development quality and benefit, and accomplished the overall sound development of production and operation.

According to the Chinese accounting standards for business enterprises, in the first half of 2014, the company registered operating revenues of 158.563 billion yuan, a net profit of 5.811 billion yuan attributable to the parent company’s shareholders, a new contract amount of 279.631 billion yuan, and an uncompleted contract amount of 766.906 billion yuan as of June 30, 2014, up 12.2 percent year on year, up 8.7 percent year on year, up 10.6 percent year on year and up 3.9 percent from December 31, 2013 respectively.

At the release conference, the corporate leaders answered questions from investors, exchanged ideas with the participants on their key concerns such as liability with interest, asset-liability ratio, investment business development and future earnings, development direction of dredging business, profits and risks of overseas projects, and state-owned enterprise reform.

The release conference drew wide attention in the capital market, with the participation of investors as well as over 80 domestic and overseas investment institutions such as HSBC, Morgan Stanley, UBS, Taiping Asset Management and Atlantis Investment.