Core Viewpoint - The recent leadership change at China State Construction Fourth Engineering Bureau (CSCEC Fourth Bureau) has drawn significant attention, marking a potential shift in the company's strategic direction and operational dynamics [4][8]. Group 1: Leadership Change - Zhou Sheng has been appointed as the new Party Secretary and Chairman of CSCEC Fourth Bureau, making him the youngest leader among the eight major engineering bureaus of China State Construction [1][4]. - The previous leaders, Yi Wenchuan and Ma Yijun, have stepped down due to age-related reasons, indicating a generational shift in leadership [1][4]. Group 2: Zhou Sheng's Background - Zhou Sheng has extensive experience in the construction industry, having previously managed significant projects in Algeria and served as the Deputy Secretary and General Manager of CSCEC Third Bureau [5][6]. - His proficiency in English and French has enhanced CSCEC's influence in the African market, and he has been instrumental in major project decisions and corporate transformations [6][8]. Group 3: Current Challenges and Opportunities - CSCEC Fourth Bureau is facing financial challenges, with a projected revenue of 129.515 billion RMB and a net profit of 5.84 billion RMB for 2024, reflecting a 24% year-on-year growth, but with a high debt ratio of 87% and significant liquidity pressure [7][8]. - The company's business structure is heavily skewed towards housing construction, which accounts for over 70% of its operations, limiting its presence in higher-margin sectors like infrastructure and new construction [7][8]. Group 4: Industry Context - The construction industry is undergoing significant adjustments, with state-owned enterprises like CSCEC gaining market share amid challenges faced by private firms [9][10]. - CSCEC Third Bureau's real estate brand, Zhongjian Yipin, achieved sales of 50.6 billion RMB in 2024, highlighting the competitive landscape among the various bureaus [9][10]. Group 5: Strategic Directions - Zhou Sheng's leadership is expected to bring new strategies to CSCEC Fourth Bureau, focusing on a "2+5" strategic plan and a "Southward Focus Strategy" to enhance market positioning [18][19]. - The company aims to optimize its human resources management and pursue "lean" management practices to improve project quality and operational efficiency [18][19].

Core Viewpoint - China State Construction International (03311) has announced a factoring arrangement that will provide immediate liquidity for operational and business development needs, enhancing the company's financial structure and operational capacity [1] Group 1: Factoring Arrangement Details - On August 20, 2025, China State Construction International's indirect wholly-owned subsidiary, China State Construction International Investment, entered into a factoring arrangement [1] - The arrangement includes a receivables transfer contract with Huzhou Haichuang and a factoring contract with China State Construction Commercial Factoring [1] - China State Construction Commercial Factoring will provide a principal amount of RMB 200 million at a discount rate of 92.8%, with factoring services for a period not exceeding 18 months [1] Group 2: Benefits of the Arrangement - The factoring arrangement is beneficial for the group as it provides immediate available funds for working capital and business development [1] - It allows the group to meet liquidity development needs and diversify financing channels [1] - The arrangement aims to optimize the group's asset structure, improve capital efficiency, and enhance operational capabilities [1]

Core Viewpoint - China State Construction International (03311) has announced a factoring arrangement that will provide immediate available funds for operational and business development purposes, enhancing liquidity and diversifying financing channels [1] Group 1 - The company has entered into a factoring arrangement on August 20, 2025, through its indirect wholly-owned subsidiary, China State Construction International Investment [1] - The factoring arrangement includes a receivables transfer contract with Huzhou Haichuang and a factoring contract with China State Construction Commercial Factoring [1] - China State Construction Commercial Factoring will provide a principal amount of RMB 200 million at a discount rate of 92.8%, with factoring services for a period not exceeding eighteen months [1] Group 2 - The arrangement is beneficial for the company as it allows for immediate access to funds, which can be used for working capital and business development [1] - It enables the company to meet its liquidity development needs and optimize its asset structure, improving capital efficiency and enhancing operational capabilities [1]

Core Viewpoint - China State Construction International (03311.HK) announced a factoring arrangement on August 20, 2025, involving the transfer of accounts receivable and a financing agreement with a discount rate of 92.8% [1] Group 1 - The company entered into a receivables transfer contract with Huzhou Haichuang [1] - The company established a factoring contract with China State Construction Commercial Factoring, which will provide a principal amount of RMB 200 million [1] - The factoring service will be provided for a period not exceeding eighteen months from the date of withdrawal [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：3311） 關連交易 保理安排 保理安排 董事局謹此宣佈，於二零二五年八月二十日，中建國際投資（本公司的間接全資附 屬公司）訂立保理安排，據此，於同日，中建國際投資(1)與湖州海創訂立應收賬款 轉讓合同；及(2)與中建商業保理訂立保理合同，內容有關向中建商業保理轉讓應收 賬款，中建商業保理按折價率 92.8%向中建國際投資提供本金為人民幣 2 億元並根 據保理合同自提取日起計為期不超過十八個月的應收賬款保理服務。 上市規則的涵義 於本公告日期，中建股份為本公司的中介控股公司。因此，根據上市規則第十四 A 章，中建商業保理（中建股份的間接全資附屬公司）為本公司的關連人士，以及根 據上市規則第十四 A 章，交易事項構成本公司的關連交易。 提述本公司分別日期為二零二四年十二月六日及二零二五年五月三十日的公告所 定的關連交易。 根據上市規則第 14A.81 條，如有 ...

【财华社讯】中国建筑国际(03311.HK)公布，截至2025年6月30日止六个月，营业额约566.43亿元(人民 币,下同)，同比增长0.1%；公司股东应占溢利约52.59亿元，同比增长5.1%；每股基本盈利101.43分。拟 派中期股息每股34港仙。 本文源自：财华网 ...

1 Disclaimer ◼These materials have been prepared by China State Construction International Holdings Ltd. ("CSCI" or the "Company") solely for information use during its presentation. It may not be reproduced or redistributed to any other person without the permissions from CSCI. By attending this presentation, you are agreeing to be bound by the foregoing restrictions. ◼It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the compa ...

Group 1 - The company reported a revenue of RMB 56.643 billion for the six months ending June 30, 2025, representing a year-on-year increase of 0.1% [1] - Shareholders' profit attributable to the company was RMB 5.259 billion, an increase of 5.1% year-on-year, with basic earnings per share at 101.43 cents [1] - The company plans to distribute an interim dividend of 34 Hong Kong cents per share [1] Group 2 - The company is actively participating in public housing construction in Hong Kong, winning contracts for projects in Yuen Long, utilizing MiC technology for improved service delivery [1] - The company is maintaining its leading position in the Northern Metropolis construction, securing contracts for projects like the first phase of the flood bridge water treatment facility [1] - The company has benefited from the tourism economy in Macau, winning multiple hotel renovation and expansion projects, including the M8 Macau project, which received international awards [1] Group 3 - The company is optimizing management in mainland China to enhance investment and construction technology business integration, promoting regional management collaboration [2] - The company has implemented a refined management approach for ongoing projects to ensure timely progress [2] - MiC technology is penetrating the mainland market, with successful projects in Beijing and Guangzhou, including the first modular building project to receive floor area incentive policies [2] Group 4 - The company’s subsidiary, China Construction Industry Group, is maintaining a leading market share in the Hong Kong and Macau curtain wall business, expanding into maintenance and upgrade services [3] - The company is deepening resource collaboration between Hong Kong, Macau, and mainland China, enhancing contract quality and trust with clients [3] - The company is expanding into the Singapore market, winning a contract for the Changi Airport T2 hotel project, which includes BIPV technology, aiming to become Singapore's first zero-energy hotel [3]

Group 1 - The company reported a revenue of RMB 56.643 billion for the six months ending June 30, 2025, representing a year-on-year increase of 0.1% [1] - Shareholders' profit attributable to the company was RMB 5.259 billion, an increase of 5.1% year-on-year, with basic earnings per share at 101.43 cents and an interim dividend of 34 Hong Kong cents proposed [1] - The company actively participates in public housing construction in Hong Kong, winning projects in Yuen Long and utilizing MiC technology to enhance service delivery [1] Group 2 - The company is optimizing management in mainland China to promote regional management integration in investment and construction technology, enhancing resource efficiency and business collaboration [2] - The company has successfully implemented a new ordering model in cities like Dongguan and Jinan, and is focusing on fine management of ongoing projects to ensure timely progress [2] - MiC technology is penetrating the mainland market, with projects like the comprehensive renovation of Beijing No. 14 Middle School and the Guangzhou Nansha resettlement housing project being notable examples [2] Group 3 - The company’s subsidiary, China Construction Industry Group, maintains a leading market share in the Hong Kong and Macau curtain wall business, focusing on quality service and expanding into maintenance and upgrade services [3] - The company is deepening resource collaboration between Hong Kong, Macau, and mainland China, gaining trust from developers and improving contract quality [3] - The company is expanding into the Singapore market, having won the Changi Airport T2 hotel project, which includes BIPV technology, marking a significant milestone in sustainable construction [3]

Group 1 - The company reported a steady growth in performance, with new contract value reaching RMB 92.551 billion and unaudited revenue of RMB 56.643 billion, reflecting a year-on-year increase of 0.1% [1] - Shareholder profit increased by 5.1% to RMB 5.259 billion, with basic earnings per share at RMB 1.01. The board announced an interim dividend of HKD 0.34 per share, with a payout ratio of approximately 31.1% [1] - The company aims for high-quality development amidst a complex market environment, focusing on finding new growth points and enhancing technological capabilities in construction [1] Group 2 - The company is optimizing management in mainland China to promote integration of investment and construction technology, enhancing resource efficiency and business collaboration [2] - The company has initiated deep regional development in several hundred billion operating units, with a new ordering model implemented in cities like Dongguan and Jinan [2] - The MiC technology continues to penetrate the mainland market, with successful projects including the comprehensive renovation of Beijing's No. 14 Middle School and the Guangzhou Nansha resettlement housing project, which became the first modular building project to enjoy floor area ratio incentives in the country [2]