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Today, let's talk about the highlights and changes that China can build.
1. Company profile
China Energy Construction Co., Ltd. was jointly established in 2014 by China Energy Construction Group and its wholly-owned subsidiary, Electric Power Planning Institute, and was listed on the Hong Kong Stock Exchange in 2015, and merged Gezhouba Group shares in 2021 and listed on the main board of the Shanghai Stock Exchange. The company is a comprehensive super-large group company that provides systematic, integrated, full-cycle, package development solutions and services for domestic and global energy, power, infrastructure and other industries, and its main business covers new energy and integrated smart energy, traditional energy, water conservancy (water affairs), ecological and environmental protection, comprehensive transportation, municipal, housing construction, real estate (new urbanization), building materials, civil explosives, equipment manufacturing, capital and finance and other industrial fields.
2. Revenue composition
Engineering construction business, especially new energy engineering construction business, is the main revenue of the company's business**. In the first half of 2023, the revenue of engineering construction business accounted for 8344%, of which the revenue of new energy and integrated smart energy business accounted for 2886%。
According to the revenue region, the company's business is mainly based on domestic revenue, and the company's domestic revenue accounted for about 86 in the first half of 202373%, and overseas income accounted for 1327%。
3. Business orders
In 2023, the company will sign a new order of 12,837300 million yuan, an increase of 22 from the end of 20224%。Among them, 10,030 new orders were signed in the domestic market0 billion yuan, a year-on-year increase of 2393%；2807300 million yuan, a year-on-year increase of 1707%。
4. Major changes in financial indicators
As of September 30, 2023, the material changes in financial indicators are as follows:
1) Contract liabilities 6849.5 billion yuan, an increase of 11 percent from the previous quarter82%, an increase of 13 from the end of last year32%。The increase in contract liabilities was mainly attributable to the increase in advance receipts for construction projects.
2) Contract assets 11020.6 billion yuan, down 332%, an increase of 23 from the end of last year27%。The increase in contract assets was mainly due to the concentration of construction projects and the increase in the outstanding balance of completed projects.
3) Advance payment 3987.9 billion yuan, an increase of 1706%, an increase of 31 from the end of last year43%。The increase in prepayments was mainly due to the increase in the scale of construction projects.
5. Business performance
Since its listing, both revenue and net profit deducted from non-attributable to the parent company have grown by double digits year by year.
6. Retaining funds for development
Since its listing, the company's annual cash dividend ratio has been relatively low, at about 13%. This is because the company's operating orders can maintain a rapid growth rate, and the company needs to retain more funds for future development. As of the end of the first half of 2023, the company held financial assets of up to 246.7 billion yuan.
7. What to watch for in the future
1) The new energy business is accelerating and leading.
In 2023, the company's new energy and integrated smart energy will sign a new 52916.9 billion yuan, a year-on-year increase of 286%。
2) Accelerate the development of new industry business.
The whole hydrogen energy industry chain will be released first, and the scale of the projects in hand is considerable. According to the China Hydrogen Energy Alliance, the annual demand for hydrogen in 2030 and 2060 will reach 37.15 million tons300 million tons, accounting for 5% and 20% of final energy consumption. The company is one of the earliest central enterprises to carry out forward-looking research on hydrogen energy, and since 2022, it has rapidly laid out the hydrogen energy business map, and worked together with the upstream and downstream of the industrial chain to open up the market. The establishment of an energy storage research institute to help the track race, large-scale compressed air energy storage to achieve breakthroughs.
Well, the information collation and sharing about China Energy Construction is written here, and the latest developments will continue to be tracked in the later stage.
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Remember! All statements in this article are for discussion purposes only and should not be used as the basis for any investment decisions. It is only a collation and sharing of information, not a stock recommendation! **There are risks, and investment needs to be cautious! If you trade exactly according to the ideas provided in this article, you do so at your own risk!