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Industrial Services

China Communications Construction Co. Ltd.

Company Background

China Communications Construction engages in transport infrastructure projects, building roads, ports and bridges in China. It is a state-owned enterprise controlled by the State-owned Assets Supervision and Administration Commission of the State Council. It is a publicly traded arm of the China Communications Construction Group and listed on the Hong Kong Exchange in 2006. Its workforce exceeds 100,000. The company grew rapidly during the Chinese economy's boom years, when infrastructure investment significantly expanded.

China Communications Construction has handled several major development projects, including the construction of the Shanghai-Nanjing Expressway, the Shanghai-Kunming High-Speed Railway and the 32.5km Donghai Bridge in Shanghai. The company is taking advantage of its close ties with the Chinese government and cost competitiveness to make a foray into overseas markets. It built a container berth at a Sudanese port, the Gwadar deep-water port in Pakistan and a belt highway in Addis Ababa, Ethiopia, that cost $98 million.

Infrastructure development investment is peaking in China as the country's economy is slowing. So the company aims to expand overseas operations in cooperation with the Asian Infrastructure Investment Bank.

Business Summary

China Communications Construction Co. Ltd. engages in infrastructure construction, infrastructure design and dredging businesses. It operates through the following segments: Construction, Design and Dredging. The Construction segment involves in infrastructure construction of ports, roads, bridges and railways. The Design segment involves in infrastructure design of ports, roads and bridges. The company was founded on October 8, 2006 and is headquartered in Beijing, China.

Financial Highlights

Dec 2019 HKDUSD
Gross Profit78,388.78M10,004.69M
Operating income32,572.88M4,157.25M
Income before tax31,043.23M3,962.02M
Net income22,143.12M2,826.10M
Diluted EPS1.310.16
Dividends Per Share0.250.03
Total Assets1,255.30B161,105.84M
Total liabilities940,450.13M120,697.41M
Total equity239,600.89M30,750.39M
Operating cash flow-7,517.86M-959.49M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 497,852.53M 474,764.66M 530,497.22M 578,802.34M 626,536.47M
Gross Profit 60,349.27M 63,677.64M 69,689.11M 76,528.75M 78,388.78M
Operating income 28,282.47M 29,170.73M 31,038.79M 34,208.21M 32,572.88M
Income before tax 23,790.14M 26,245.01M 27,285.49M 30,766.18M 31,043.23M
Net income 19,523.53M 19,979.95M 20,655.24M 23,474.69M 22,143.12M
EBITDA 38,430.32M 38,696.85M 40,715.49M 45,845.47M 46,266.06M
Diluted EPS 1.18 1.16 1.21 1.37 1.31
Dividends Per Share 0.22 0.21 0.30 0.26 0.25
Total Assets 872,826.39M 893,720.25M 1,020.24B 1,095.28B 1,255.30B
Total liabilities 677,040.09M 691,111.96M 779,397.53M 833,318.25M 940,450.13M
Total equity 169,192.59M 172,210.40M 211,229.16M 213,497.66M 239,600.89M
Operating cash flow 23,400.36M 25,691.18M 35,079.20M 899.00M -7,517.86M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 64,217.71M 61,161.64M 68,075.15M 73,849.95M 79,964.34M
Gross Profit 7,784.41M 8,203.28M 8,942.73M 9,764.37M 10,004.69M
Operating income 3,648.14M 3,757.92M 3,983.00M 4,364.65M 4,157.25M
Income before tax 3,068.67M 3,381.01M 3,501.36M 3,925.48M 3,962.02M
Net income 2,518.32M 2,573.92M 2,650.54M 2,995.15M 2,826.10M
EBITDA 4,957.10M 4,985.12M 5,224.74M 5,849.46M 5,904.89M
Diluted EPS 0.15 0.15 0.15 0.17 0.16
Dividends Per Share 0.02 0.02 0.03 0.03 0.03
Total Assets 112,620.57M 115,271.88M 130,511.05M 139,894.84M 161,105.84M
Total liabilities 87,358.31M 89,139.50M 99,701.62M 106,435.18M 120,697.41M
Total equity 21,830.87M 22,211.66M 27,020.73M 27,268.88M 30,750.39M
Operating cash flow 3,018.39M 3,309.67M 4,501.47M 114.70M -959.49M

Valuation Measures

Dec 2019
Operating margin5.19%
Profit margin3.53%

Key executives

  • President & Executive Director: Hai Liang Song
  • Chief Financial Officer: Hong Biao Zhu
  • Vice President: Jing Bo Zhou
  • Vice President: Min Shan Pei
  • Vice President: Zhong Chen


  • The Vanguard Group, Inc. (3.7%)
  • BlackRock Fund Advisors (1.6%)
  • Nordea Investment Management AB (Denmark) (1.6%)
  • Fidelity Management & Research Co. LLC (1.4%)
  • Dimensional Fund Advisors LP (1.3%)
  • Russell Investments Ltd. (0.9%)
  • BlackRock Investment Management (UK) Ltd. (0.7%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • Hang Seng Investment Management Ltd. (0.4%)
  • BlackRock Japan Co., Ltd. (0.4%)

Contact Details

  • Website:
  • Address: No. 85 Deshengmen Outer Street, Xicheng District, Beijing, 100088, China
  • Phone: +86.10.8201.6562

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Last Updated on 3 Aug, 2020

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