Industrial Services
China Railway Construction Corp. Ltd.
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Company Background
China Railway Construction (CRCC) is China's state-owned railway constructor. Its business operations are growing rapidly as it expands to Southeast Asia, Africa, South America and Eastern Europe. It is often ranked among the world's top general contractors.
As the successor of the Railway Corps of the People's Liberation Army, CRCC has developed railway infrastructure under the Ministry of Railways. It changed into its current form in 2007 following state-owned company reforms. Its government-controlled parent company still has 60% of outstanding shares.
CRCC builds railways as well as hydropower plants, airports and housing. It holds a 90% share in the domestic railway maintenance facilities. It is currently focusing on winning more contracts for building subways and high-speed railways overseas. It is aiming to expand its infrastructure exports, including railway design, construction, rail car manufacturing and railway traffic control systems.
As a state-owned company, its business is susceptible to Communist Party policies. Its overseas strategy is basically the same as Beijing's foreign policy. While CRCC can benefit from the government's infrastructure export policy, many developed countries argue it has problems in ensuring transparency in management and safety.
Business Summary
China Railway Construction Corp. Ltd. engages in the construction business. It operates the following business segment: Construction; Survey, Design, and Consultancy; Manufacturing; Real Estate; and Other Business Operations. The Construction Operations segment engages in the construction of infrastructure such as railways, highways, metropolitan railways and real estate projects. The Survey, Design, and Consultancy Operations segment involves in the provision of survey, design and consultancy services, as well as technology and equipment research and development services. The Manufacturing Operations segment offers design, research and development, production, and sale of large track maintenance machinery as well as the manufacturing of components for railway construction. The Real Estate Operations segment comprise development, construction, and sale of residential and commercial properties. The Other Business Operations segment focuses on the logistics, finance and insurance. The company was founded on July 1948 and is headquartered in Beijing, China.
Financial Highlights
| Dec 2018 | HKD | USD |
| Revenue | 859,104.73M | 109,614.00M |
| Gross Profit | 78,030.06M | 9,955.93M |
| Operating income | 34,273.07M | 4,372.93M |
| Income before tax | 28,246.94M | 3,604.05M |
| Net income | 20,216.61M | 2,579.45M |
| EBITDA | 50,396.68M | 6,430.16M |
| Diluted EPS | 1.45 | 0.18 |
| Dividends Per Share | 0.23 | 0.03 |
| Total Assets | 1,046.47B | 133,660.16M |
| Total liabilities | 830,533.04M | 106,079.44M |
| Total equity | 170,296.40M | 21,751.02M |
| Operating cash flow | 1,937.91M | 247.26M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 727,812.00M | 721,697.51M | 725,801.58M | 779,522.07M | 859,104.73M |
| Gross Profit | 61,236.39M | 64,193.55M | 57,009.03M | 65,760.92M | 78,030.06M |
| Operating income | 24,094.40M | 25,906.40M | 24,499.06M | 26,495.15M | 34,273.07M |
| Income before tax | 19,551.21M | 20,990.10M | 22,198.65M | 24,186.05M | 28,246.94M |
| Net income | 14,768.42M | 15,597.95M | 16,357.40M | 18,180.81M | 20,216.61M |
| EBITDA | 37,606.02M | 39,618.83M | 38,753.19M | 40,677.03M | 50,396.68M |
| Diluted EPS | 1.19 | 1.20 | 1.18 | 1.25 | 1.45 |
| Dividends Per Share | 0.18 | 0.17 | 0.18 | 0.22 | 0.23 |
| Total Assets | 779,442.41M | 830,795.08M | 847,156.76M | 986,630.96M | 1,046.47B |
| Total liabilities | 647,443.99M | 676,389.77M | 689,807.96M | 787,534.44M | 830,533.04M |
| Total equity | 115,818.12M | 133,123.64M | 136,806.50M | 163,081.44M | 170,296.40M |
| Operating cash flow | 8,726.65M | 62,317.01M | 43,802.79M | 29,803.59M | 1,937.91M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 93,854.52M | 93,091.35M | 93,501.52M | 100,030.84M | 109,614.00M |
| Gross Profit | 7,896.69M | 8,280.29M | 7,344.19M | 8,438.65M | 9,955.93M |
| Operating income | 3,107.07M | 3,341.65M | 3,156.09M | 3,399.94M | 4,372.93M |
| Income before tax | 2,521.21M | 2,707.50M | 2,859.74M | 3,103.63M | 3,604.05M |
| Net income | 1,904.45M | 2,011.97M | 2,107.24M | 2,333.02M | 2,579.45M |
| EBITDA | 4,849.46M | 5,110.41M | 4,992.38M | 5,219.81M | 6,430.16M |
| Diluted EPS | 0.15 | 0.15 | 0.15 | 0.16 | 0.18 |
| Dividends Per Share | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Total Assets | 100,510.31M | 107,197.28M | 109,266.13M | 126,211.21M | 133,660.16M |
| Total liabilities | 83,488.91M | 87,274.40M | 88,971.31M | 100,742.51M | 106,079.44M |
| Total equity | 14,934.92M | 17,176.91M | 17,645.28M | 20,861.60M | 21,751.02M |
| Operating cash flow | 1,125.34M | 8,038.23M | 5,642.90M | 3,824.49M | 247.26M |
Valuation Measures
| Dec 2018 | |
| PER | 7.29 |
| ROA | 1.98% |
| ROE | 12.12% |
| Operating margin | 3.98% |
| Profit margin | 2.35% |
Key executives
- President & Executive Director: Shang Biao Zhuang
- Chief Financial Officer & Chief Accountant: Xiuming Wang
- Vice President: Cheng Jun Liu
- Secretary: Deng Shan Zhao
Shareholders
- National Council for Social Security Fund (9.0%)
- The Vanguard Group, Inc. (3.4%)
- Credit Suisse Asset Management (Schweiz) AG (2.8%)
- Nordea Investment Management AB (Denmark) (2.4%)
- BlackRock Fund Advisors (2.2%)
- Grantham, Mayo, Van Otterloo & Co. LLC (1.6%)
- JPMorgan Asset Management (UK) Ltd. (1.4%)
- Dimensional Fund Advisors LP (1.4%)
- Allianz Global Investors Asia Pacific Ltd. (1.0%)
- Jennison Associates LLC (1.0%)
Contact Details
- Website:http://www.crcc.cn
- Address: East, No. 40 Fuxing Road, Haidian District, Beijing, 100855, China
- Phone: +86.10.5188.8114
Related Companies
- China Railway Construction Financial Leasing Co., Ltd.
- China Railway Construction Finance Co., Ltd.
- Chongqing Tiefa Suiyu Expressway Co., Ltd.
- China Railway Wuju Group the First Engineering Co., Ltd.
- China Railway 16th Bureau Group No. 3 Engineering Co., Ltd.
- China Railway Fifth Survey & Design Institute Group Co
- Beijing CRCC Tianrui Machinery Equipment Co., Ltd.
- China Railway Fourth Survey & Design Institute Group Co., Ltd.
- China Railway First Survey & Design Institute Group Co., Ltd.
- China Railway Maglev Transportation Investment Construction Co
- China Railway Shanghai Design Institute Group Co., Ltd.
- CRCC Urban Engineering Co., Ltd.
- China Railway Goods & Materials Group Co., Ltd.
- CRCC Nanfang Construction & Investment Co., Ltd
- China Railway Construction Real Estate Group Co., Ltd.
- CRCC Assets Management Co., Ltd.
- CRCC Harbour & Channel Engineering Bureau Group Co.
- CRCC Huabei Investment & Development Co., Ltd
- China High-Tech Equipment Co., Ltd.
- Chenghe Insurance Broker Co., Ltd.
- China Railway Strait Construction Group Co. Ltd.
- CRCC Kunlun Investment Group Co., Ltd.
- China Railway 25th Bureau Group Co., Ltd.
- CRCC Chongqing Investment Group Co., Ltd.
- China Railway Goods & Materials Co., Ltd.
- China Railway 24th Bureau Group Co., Ltd.
- China Railway Urban Construction Group Co., Ltd.
- China Railway Construction Bridge Engineering Bureau Group Co.
- CRCC Finance Co., Ltd.
- Qingdao Finance Department
Competitors
- Shikun & Binui Ltd
- Actividades de Construccion y Servicios SA
- China Communications Construction Co. Ltd. Class H
- Stantec Inc
- Arcadis NV
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Last Updated on 23 Oct, 2019