vested
China Communications Construction Co (1800 HK)
1H15: Largest Exposure In Overseas Markets To Offset Slowdown Of Domestic Infrastructure Demand
CCCC reported solid 1H15 results with revenue and net profit up 11 % and 13% yoy respectively.
Despite the contraction in new orders from domestic infrastructure projects, its highest exposure to overseas markets among the listed China construction contractors should underpin its steady growth.
CCCC is a key beneficiary of the One Belt, One Road (OBOR) initiative.
Maintain BUY. Target price: HK$14.80.
Source: UOBKH