China Communications Construction Company Limited(601800) performance continues to grow steadily, and highway construction welcomes opportunities

\u3000\u3 Guangdong Shaoneng Group Co.Ltd(000601) 800 China Communications Construction Company Limited(601800) )

Core view:

Event: the company released the first quarterly report of 2022. In the first quarter of 2022, the company achieved a revenue of 172095 billion yuan, a year-on-year increase of 13.27%; The net profit attributable to the parent company was RMB 1.794 billion, a year-on-year increase of 1.75%; The net profit attributable to the parent company after deduction was RMB 4.929 billion, a year-on-year increase of 17.22%.

The performance continued to grow steadily and achieved a high-quality "good start". In the first quarter of 2022, the company achieved a revenue of 172095 billion yuan, a year-on-year increase of 13.27%, mainly due to the growth of business scale. The net profit attributable to the parent company was 5.094 billion yuan, a year-on-year increase of 17.74%. The company coordinated epidemic prevention and control, production and operation, adhered to the general tone of seeking progress while maintaining stability, orderly implemented all work around "stable growth, excellent structure and risk control", achieved a high-quality "good start" in its overall operation, and laid the foundation for the growth of annual performance.

The newly signed contract amount increased by 4.90% year-on-year, and the growth rate of port construction business was high. In the first quarter of 2022, the newly signed contract amount of the company was 430693 billion yuan, a year-on-year increase of 4.90%, a month on month increase of 64.89% compared with 2021q4, and 30% of the annual target was achieved. Among them, the newly signed contracts of infrastructure construction business, infrastructure design business, dredging business and other businesses were 379277 billion yuan, 16.522 billion yuan, 32.513 billion yuan and 2.381 billion yuan respectively, with year-on-year changes of + 5.90%, 25.22%, - 10.51% and - 18.71% respectively. In the infrastructure construction business, the growth rate of newly signed contracts in port construction business was high, with a year-on-year increase of 42.93%.

CCCC REIT completed its listing, helping the company broaden financing channels and revitalize relevant assets. On April 8, CCCC REIT was listed on the Shanghai Stock Exchange, raising a net fund of 9.399 billion yuan. The public offering of REITs for infrastructure will help the company further broaden financing channels, effectively revitalize the company's expressway infrastructure assets, form a virtuous circle of investment, help the large-scale and sustainable development of the company's infrastructure business, and be conducive to the long-term development of the company.

Under the background of steady growth, investment in highway construction meets opportunities. In the first quarter of 2022, the completed investment in fixed assets of highway construction was 480971 billion yuan, with a year-on-year increase of 11.8%, 3.3 PCT higher than the growth rate of infrastructure investment. As a leading transportation infrastructure enterprise in China, the newly signed contract amount of road and bridge construction in the first quarter of 2022 was 107003 billion yuan, accounting for 28.21% of the newly signed contract amount of infrastructure construction business. Under the background of steady growth, the investment in highway construction in the field of infrastructure construction is expected to usher in rapid growth, and the company is expected to benefit.

- Advertisment -