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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, Dredging, and Others. 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 2018 HKDUSD
Revenue488,666M62,349.36M
Gross Profit64,611M8,243.78M
Operating income28,881M3,684.95M
Income before tax25,975M3,314.17M
Net income19,819M2,528.72M
EBITDA38,706M4,938.53M
Diluted EPS1.160.14
Dividends Per Share0.260.03
Total Assets960,476M122,676.34M
Total liabilities730,752M93,334.95M
Total equity187,220M23,912.58M
Operating cash flow759M96.84M
Currency in HKDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 366,042M 403,616M 406,331M 460,067M 488,666M
Gross Profit 38,444M 48,926M 54,499M 60,437M 64,611M
Operating income 20,420M 22,929M 24,966M 26,918M 28,881M
Income before tax 17,265M 19,287M 22,462M 23,663M 25,975M
Net income 13,985M 15,828M 17,100M 17,913M 19,819M
EBITDA 28,166M 31,156M 33,119M 35,310M 38,706M
Diluted EPS 0.86 0.96 1.00 1.05 1.16
Dividends Per Share 0.21 0.22 0.21 0.30 0.26
Total Assets 630,180M 731,313M 801,082M 849,888M 960,476M
Total liabilities 503,554M 567,270M 619,475M 649,257M 730,752M
Total equity 111,545M 141,761M 154,360M 175,959M 187,220M
Operating cash flow -4,441M 18,971M 21,988M 30,422M 759M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 47,202.70M 52,062.19M 52,345.66M 59,037.31M 62,349.36M
Gross Profit 4,957.52M 6,310.93M 7,020.84M 7,755.47M 8,243.78M
Operating income 2,633.24M 2,957.59M 3,216.24M 3,454.20M 3,684.95M
Income before tax 2,226.39M 2,487.81M 2,893.67M 3,036.51M 3,314.17M
Net income 1,803.42M 2,041.64M 2,202.91M 2,298.65M 2,528.72M
EBITDA 3,632.12M 4,018.79M 4,266.56M 4,531.09M 4,938.53M
Diluted EPS 0.11 0.12 0.12 0.13 0.14
Dividends Per Share 0.02 0.02 0.02 0.03 0.03
Total Assets 81,262.69M 94,361.13M 103,323.42M 108,718.86M 122,676.34M
Total liabilities 64,934.07M 73,194.70M 79,899.78M 83,053.86M 93,334.95M
Total equity 14,383.90M 18,291.38M 19,909.32M 22,508.92M 23,912.58M
Operating cash flow -572.68M 2,447.05M 2,832.60M 3,903.85M 96.84M

Valuation Measures

Dec 2018
PER--
ROA2.18%
ROE10.91%
Operating margin5.91%
Profit margin4.05%

Key executives

  • President & Executive Director: Hai Liang Song
  • Chief Financial Officer: Bi Hong Peng
  • Vice President: Zi Yu Sun
  • Member-Supervisory Board & Head-Auditing: Yong Bin Wang
  • Secretary: Chang Jiang Zhou

Shareholders

  • The Vanguard Group, Inc. (3.7%)
  • BlackRock Fund Advisors (2.7%)
  • Nordea Investment Management AB (Denmark) (1.8%)
  • Dimensional Fund Advisors LP (1.0%)
  • BlackRock Investment Management (UK) Ltd. (0.8%)
  • BlackRock Advisors (UK) Ltd. (0.7%)
  • Fidelity Management & Research Co. (0.6%)
  • Hang Seng Investment Management Ltd. (0.5%)
  • BlackRock Asset Management North Asia Ltd. (0.5%)
  • Causeway Capital Management LLC (0.4%)

Contact Details

  • Website:http://www.ccccltd.cn
  • Address: No. 85 Deshengmen Outer Street, Xicheng District, Beijing, 100088, China
  • Phone: +86.10.8201.6562

Related Companies

  • Tianhe Mechanical Equipment Manufacturing Co. Ltd.
  • CCCI-FHDI Engineering Co. Ltd.
  • CCCC Airport Survey & Design Institute Co. Ltd.
  • Ningbo Zhongjiao Future Real Estate Co. Ltd.
  • CCCC Asset Management Co., Ltd.
  • CCCC Fund Management Co., Ltd.
  • CCCC Mechanical & Electrical Engineering Co., Ltd.
  • China Infrastructure Maintenance Group Co., Ltd.
  • China Highway Engineering Consultants Co., Ltd.
  • CCCC Fourth Harbour Consultants Co., Ltd.
  • CCCC Highway Consultants Co., Ltd.
  • CCCC Urban Investment Holding Co., Ltd.
  • CCCC Urban Investment Co., Ltd.
  • CCCC Financial Leasing Co., Ltd.
  • CCCC First Shipping Engineering Bureau Co., Ltd.
  • CCCC Water Transportation Consultants Co., Ltd.
  • CCCC South America Regional Co. Sarl
  • Shandong Harbour Construction Group Co., Ltd.
  • China Highway Vehicle & Machinery Co., Ltd.
  • CCCC Second Harbor Consultants Co., Ltd.
  • CCCC First Harbor Consultants Co., Ltd.
  • Road & Bridge South China Engineering Co. Ltd.
  • CCCC Second Harbour Engineering Logistics Development Co. Ltd.
  • CCCC Road & Bridge Consultants Co. Ltd.
  • CCCC Financial Ltd.
  • CCCC Fourth Highway Engineering Co., Ltd.
  • China Harbour Engineering Co. Ltd. (Hong Kong)
  • CCCC Third Harbor Engineering Co., Ltd.
  • CCCC Second Highway Engineering Co. Ltd.
  • CCCC Dredging (Group) Holdings Co. Ltd.

Competitors

  • China Railway Construction Corporation Limited Class H
  • China Railway Group Limited Class H
  • Actividades de Construccion y Servicios SA
  • Stantec Inc
Last Updated on 23 Oct, 2019

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