On April 28, China Construction released its performance report for the first quarter of 2023.
The report shows that during the reporting period, the value of new contracts signed by the company was 108.43 billion yuan, an increase of 20.9% over the previous year; the operating income was 524.8 billion yuan, an increase of 8.1% over the previous year; the total profit was 22.58 billion yuan, an increase of 5.6% over the previous year; Net profit attributable to shareholders of the Company was RMB14.74 billion, representing a year-on-year increase of 14.1%; the weighted average return on equity was 3.73%, representing a year-on-year increase of 0.1 percentage point; the net operating cash flow was RMB-65.4 billion, representing a year-on-year decrease in net outflow of RMB57.1 billion; the operating cash ratio increased by 12.8 percentage points; As at the end of the reporting period, the gearing ratio was 74.5% and the leverage ratio remained stable.
. During the reporting period, the company focused on hot areas and key markets, and undertook a number of high-quality projects. The value of newly signed contracts for housing construction amounted to RMB723.8 billion, representing a year-on-year increase of 15.5%, of which the value of newly signed contracts for industrial plants increased by over 90% year-on-year, the value of newly signed contracts for educational facilities and affordable housing increased by over 30% year-on-year, and the value of newly signed contracts for residential real estate projects decreased by 22% year-on-year. The operating revenue was RMB344.6 billion, representing a year-on-year increase of 7.8%, and the gross profit was RMB21.23 billion, representing a year-on-year increase of 13.1%.
Infrastructure construction and investment business grew rapidly. During the reporting period, the company closely followed the national policy guidance, focused on key market segments, and rapidly improved its business scale and quality. The value of newly signed contracts in infrastructure business was RMB243.8 billion, representing a year-on-year increase of 18.8%. From the perspective of segments, the value of newly signed contracts in the transportation sector increased by 18.3% year-on-year, of which the value of newly signed contracts in the expressway sector increased by 122.2% year-on-year, and the value of newly signed contracts in the municipal road sector increased by 41.5% year-on-year; The value of new contracts signed in the field of energy engineering increased by 126.5% year on year. The operating revenue was RMB120 billion, representing a year-on-year increase of 11.5%, and the gross profit was RMB10.09 billion, representing a year-on-year increase of 20.5%.
Real estate development and investment business stabilized and rebounded. During the reporting period, the company took the initiative to respond to changes in the real estate market, and achieved good results in sales, capital withdrawal, completion and delivery. The contracted sales volume of the real estate business was RMB112.4 billion, representing a year-on-year increase of 82.8%; the contracted sales area was 5.05 million square meters, representing a year-on-year increase of 74.9%; the operating income was RMB50.9 billion, representing a year-on-year decrease of 4.1%; and the gross profit was RMB8.28 billion, representing a year-on-year decrease of 15.5%. The newly acquired land reserve was approximately 680,000 square meters, and the land reserve owned at the end of the period was approximately 91.14 million square meters.
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