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Industrial Services

China Railway Construction Corp. Ltd.

  • 8.74 HKD
  • -0.03
  • -0.34%
  • China
    Apr 20, 2018
  • Ticker
    HKG(1186)
  • Prev. close
    8.77
  • Market cap (HKD)
    155,979M
  • Market cap (USD)
    19,880M
  • Shares
    13,579.50M

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 November 4, 2007 and is headquartered in Beijing, China.

Financial Highlights

Dec 2017 HKDUSD
Revenue779,522.07M100,030.84M
Gross Profit65,760.92M8,438.65M
Operating income26,495.15M3,399.94M
Income before tax24,186.05M3,103.63M
Net income18,180.81M2,333.02M
EBITDA40,677.03M5,219.81M
Diluted EPS1.250.16
Dividends Per Share0.180.02
Total Assets986,630.96M126,211.21M
Total liabilities787,534.44M100,742.51M
Total equity163,081.44M20,861.60M
Operating cash flow29,803.59M3,824.49M
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 722,056.14M 727,812.00M 721,697.51M 725,801.58M 779,522.07M
Gross Profit 55,470.09M 61,236.39M 64,193.55M 57,009.03M 65,760.92M
Operating income 20,256.97M 24,094.40M 25,906.40M 24,499.06M 26,495.15M
Income before tax 16,766.34M 19,551.21M 20,990.10M 22,198.65M 24,186.05M
Net income 13,052.04M 14,768.42M 15,597.95M 16,357.40M 18,180.81M
EBITDA 32,755.64M 37,606.02M 39,618.83M 38,753.19M 40,677.03M
Diluted EPS 1.05 1.19 1.20 1.18 1.25
Dividends Per Share 0.16 0.18 0.17 0.18 0.18
Total Assets 708,298.44M 779,442.41M 830,795.08M 847,156.76M 986,630.96M
Total liabilities 600,292.33M 647,443.99M 676,389.77M 689,807.96M 787,534.44M
Total equity 103,726.87M 115,818.12M 133,123.64M 136,806.50M 163,081.44M
Operating cash flow -11,861.21M 8,726.65M 62,317.01M 43,802.79M 29,803.59M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 93,088.74M 93,854.52M 93,091.35M 93,501.52M 100,030.84M
Gross Profit 7,151.30M 7,896.69M 8,280.29M 7,344.19M 8,438.65M
Operating income 2,611.56M 3,107.07M 3,341.65M 3,234.73M 3,399.94M
Income before tax 2,161.54M 2,521.21M 2,707.50M 2,859.74M 3,103.63M
Net income 1,682.69M 1,904.45M 2,011.97M 2,107.24M 2,333.02M
EBITDA 4,222.91M 4,849.46M 5,110.41M 5,071.02M 5,219.81M
Diluted EPS 0.13 0.15 0.15 0.15 0.16
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 91,349.15M 100,510.31M 107,197.28M 109,266.13M 126,211.21M
Total liabilities 77,419.61M 83,488.91M 87,274.40M 88,971.31M 100,742.51M
Total equity 13,377.64M 14,934.92M 17,176.91M 17,645.28M 20,861.60M
Operating cash flow -1,529.16M 1,125.34M 8,038.23M 5,642.90M 3,824.49M

Valuation Measures

Dec 2017
PER6.77
ROA1.98%
ROE12.12%
Operating margin3.39%
Profit margin2.33%

Key executives

  • President & Executive Director: Shang Biao Zhuang
  • Chief Accountant & Chief Financial Officer: Xiuming Wang
  • Vice President: Guo Bin Xia
  • Vice President: Ru Chen Liu
  • Financial Controller: Xi Rui Cao

Shareholders

  • National Council For Social Security Fund (Investment Company) (9.0%)
  • The Vanguard Group, Inc. (3.3%)
  • Hang Seng Investment Management Ltd. (2.6%)
  • Nordea Investment Management AB (Denmark) (2.6%)
  • BlackRock Fund Advisors (2.5%)
  • Dimensional Fund Advisors LP (1.6%)
  • Grantham, Mayo, Van Otterloo & Co. LLC (0.8%)
  • Causeway Capital Management LLC (0.8%)
  • BlackRock Investment Management (UK) Ltd. (0.7%)
  • BlackRock Advisors (UK) Ltd. (0.7%)

Contact Details

  • Website:http://www.crcc.cn
  • Address: No. 40 Fuxing Road, Haidian District, Beijing, 100855, China
  • Phone: +86.10.5188.8114

Related Companies

  • 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 Co., Ltd.
  • China Railway 25th Bureau Group Co., Ltd.
  • CRCC Chongqing Investment Co., Ltd
  • China Railway Goods & Materials Co., Ltd.
  • China Railway 24th Bureau Group Co., Ltd.
  • China Railway Urban Construction Group
  • China Railway Construction Bridge Engineering Bureau Group Co.
  • CRCC Finance Co., Ltd.
  • Qingdao Finance Department
  • Third Engineering Co. Ltd. 25th Bureau. CRCC
  • CR17BG Construction Engineering Co. Ltd.
  • China Railway Material Group Lanzhou Co. Ltd.

Competitors

  • Shikun & Binui Ltd
  • Stantec Inc
  • China Railway Signal & Communication Corp. Ltd. Class H
  • Chengdu Road & Bridge Engineering Co., Ltd. Class A
Last Updated on 20 Apr, 2018

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