Shanghai Construction Engineering 2022 Performance Forecast

2023, Shanghai Construction Engineering Group Co., Ltd. issued a performance forecast for 2022.

The report shows that Shanghai Construction Engineering expects to achieve a net profit of 1.3 billion yuan to 1.5 billion yuan attributable to the owner of the parent company in 2022, a decrease of 2.269 billion yuan to 2.469 billion yuan compared with the same period last year, a decrease of 60.20% to 65.51%. It is estimated that the net profit attributable to the owner of the parent company after deducting non-recurring gains and losses will be 1.050 billion yuan to 1.250 billion yuan in 2022, which will decrease by 1.516 billion yuan to 1.716 billion yuan, 54.81% to 62.04% compared with the same period last year.  

Shanghai Construction Engineering analyzed the reasons for the performance decline in the report:

during the reporting period, the epidemic caused by the Aomicron strain affected the company's business in Shanghai (accounting for more than half of the company's business), and a large number of projects in Shanghai were suspended for nearly three months, resulting in a year-on-year decline in the company's operating income and an increase in expenses and costs. Profits are reduced accordingly. During the reporting period, the net profit attributable to the parent company is expected to be-728 million yuan due to the changes in fair value of financial assets held by the company. Asset impairment losses and credit impairment losses are expected to affect the net profit attributable to the parent company by-1.9 billion yuan.