China Communications Construction 1800

Re: China Communications Construction 1800

Postby winston » Mon Aug 31, 2015 10:58 am

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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
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Re: China Communications Construction 1800

Postby winston » Wed Sep 09, 2015 6:57 am

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State-owned builder upbeat on hitting targets

China Communications Construction Co Ltd (1800) said it is confident of meeting its full- year targets of new contracts and revenues, given more railway contracts and public- private partnership projects it will undertake in the second half.

In the first half, the state-owned infrastructure builder achieved 40 percent of its full-year new contracts target of 650 billion yuan (HK$791.5 billion) and 45 percent of its revenue target of 390 billion yuan.

The Beijing firm said it inked new rail contracts worth 2.4 billion yuan in the first half, down 88.4 percent from a year earlier.

It also plans to invest in public-private partnership projects with controllable risk, earning sound fiscal revenue in the second half.

Chief financial officer Fu Junyuan said the PPP model is better than the build-and- transfer mode used in the past in ensuring local governments pay on time after construction is completed.

Amid an economic slowdown in the mainland, CCCC saw overall new contracts slip 5.7 percent in the first half to 263.76 billion yuan, while net overseas new contracts jumped 33 percent to US$12 billion (HK$93.6 billion).

"We are the largest beneficiaries of `one belt, one road' infrastructure export campaign," Fu said. On the yuan devaluation, Fu said it has hedged CURRENCY risk through tools like US dollar swaps.

CCCC shares rose 3.28 percent to HK$8.82 yesterday.

Source: The Standard
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Re: China Communications Construction 1800

Postby winston » Wed Sep 16, 2015 2:15 pm

CHINA COMM CONS (01800.HK) Wins Bids for 2 Projects, Involving RMB3.1B

CHINA COMM CONS (01800.HK) announced that on 9 September, CCCC Third Harbour Engineering won the bid for the the infrastructure facility project in Jintan City which will adopt the PPP mode.

It is planned that the total investment amount will reach approximately RMB2.75 billion.

In addition, on 14 September, CCCC Third Highway Engineering Co., Ltd. also won the bid for the pavement work for the Baiming project of the Jingxin Highway (Gansu Section), with a bidding amount of RMB355 million for a construction period of 12 months.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Tue Nov 10, 2015 1:06 pm

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Nov 3, 2015

<Research Report>Nomura Downgrades CHINA COMM CONS to Underweight with Target Cut to $8.17

Nomura in a research report downgraded CHINA COMM CONS (01800.HK)'s rating from Neutral to Underweight and cut its 2015-2017 EPS forecasts by 6%-7%, to reflect higher-than-expected financial costs and income tax rate.

The target price of the company was lowered by 7% to $8.17.

The research house said CHINA COMM CONS's EPS was -11%/+1% in 3Q/9M15, tracking behind itself and other brokers' consensus.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Tue Nov 10, 2015 1:07 pm

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Nov 3, 2015

<Research Report>Citi Maintains CHINA COMM CONS(01800.HK) at Buy with Target Cut to $14

Citigroup said in a report that it lowered the 2015-2017 earnings forecasts by 2.6%-4.1% for CHINA COMM CONS(01800.HK) with the target price cut from $15 to $14 and the rating kept unchanged at Buy, given that the fall in the company's investment income and rising SG&A cost in 3Q15, together with an unexpected decline in earnings by 11%.

The research house said that its stock preferences in descending order are CHINA RAIL CONS (01186.HK), CHINA RAILWAY (00390.HK) and CHINA COMM CONS amid the railway construction sector.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Tue Nov 10, 2015 1:09 pm

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Nov 2, 2015

<Research Report>BofA Merrill Lynch Maintains CHINA COMM CONS at Neutral with Target Lifted to $11.7

CHINA COMM CONS (01800.HK)'s 3Q15 earnings dropped 11%, although its recorded an one-off gain in 3Q14 from disposal of financial assets.

The company's core earnings in 3Q15 rose 21.5% year-on-year, in line with estimates.

Bank of America Merrill Lynch in a report held its 2015 core earnings forecast for CHINA COMM CONS unchanged and maintained its rating at Neutral, with the target price raised from $11.2 to $11.7, to reflect lower-than-expected BOT orders.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Thu Nov 26, 2015 1:45 pm

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CHINA COMM CONS Introduces NCSSF as Limited Partner for Investment Fund

CHINA COMM CONS (01800.HK) announced that for the purpose of introducing long-term equity investment funds to expand the capital sourcing channels of the company, the company and CCCC (Beijing) First Phase Equity Investment Fund LLP (the investment fund) introduced National Council for Social Security Fund (NCSSF) as a limited partner.

Investment Fund mainly invests in quality projects, including, but not limited to BOT/BT projects, general development projects of urban complex and other assets capable of turning into positive cash flows.

Investment methods include, but not limited to, equity investment involving equity interests, income right and etc., convertible bonds and debt investment in other legal forms, mezzanine investment combining equity and debts, and investment combinations of multi above-mentioned investment methods.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Fri Nov 27, 2015 9:26 am

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<Research Report>Citi Downgrades CHINA COMM CONS (01800.HK) to Sell; Target Cut to $8.8

Citigroup, in its report, downgraded CHINA COMM CONS (01800.HK) from Buy to Sell, mainly due to the absence of new contracts for overseas railway projects, possibility of failure for spinning off dredging business and establishment of fund investment projects under social security fund.

The bank said the profit growth for 2014-15 mainly came from dredging business and there were only few one-off overseas projects.

It believed the company would stop boosting growth from the end of 2016. Hence, Citi downgraded its profit forecast for 2016-17 of the company by 3%-9% with target price cut to $8.8 from $14.

Citigroup said compared to CHINA RAIL CONS (01186.HK) and CHINA RAILWAY (00390.HK), China Communications Construction accounted for more revenue of overseas projects. However, its revenue was not mainly driven by railway projects.

As "Belt and Road" Initiative focused on railway projects, which benefited CHINA RAIL CONS and CHINA RAILWAY more, the bank suggested investors to buy stakes in the two companies.

Source: AAStocks Financial News
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Re: China Communications Construction 1800

Postby winston » Thu Apr 07, 2016 7:32 am

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Infrastructure giant remains upbeat

China's infrastructure sectors are showing promise despite the nation's economic slowdown.

State-owned China Communications Construction Corp (1800) is aiming for an 8 percent hike in the value of new contracts to up to 700 billion yuan (HK$833 billion) this year from 2015.

The infrastructure developer has inked contracts worth US$5.3 billion (HK$41.3 billion) with Kenya to lay railway tracks and build warehouses.

Chief financial officer Fu Junyuan expects projects from the "one belt, one road" scheme to contribute half of the firm's revenues in the long run.

The company reported a 13.2 percent increase in net profit to 15.83 billion yuan in the past year.

The value of new contracts last year amounted to 650.32 billion yuan, representing an increase of 6.9 percent year-on-year. About 23.9 percent of these new contracts, or 156.3 billion yuan, came from overseas markets, which usually create higher gross profit margins, according to Fu.

He also expressed confidence in domestic railway construction as the government plans massive investment in the sector.

Source: The Standard
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Re: China Communications Construction 1800

Postby winston » Fri Apr 22, 2016 4:11 pm

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CHINA COMM CONS (01800.HK) Slumps 5.4%

CHINA COMM CONS (01800.HK) announced that the first-quarter new contract amount was RMB107.884 billion, representing less than 17% of the lower end of the full-year new contract target amount (RMB650-700 billion).

The stock underperformed its peers today (22 April), hitting the trough of $9.53 after midday.

It was last traded at $9.57, plunging 5.4%, on volume surging to 34.09 million shares.

Source: AAStocks Financial News
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