证券代码：601800 证券简称：中国交建 公告编号：临 2024-050 （四）监事会及监事保证报告所载资料不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 1 表决结果：同意【3】票，反对【0】票，弃权【0】票。 二、审议通过《关于审议公司 2024 年中期分红方案的议案》 中国交通建设股份有限公司 第五届监事会第二十七次会议决议公告 中国交通建设股份有限公司（简称公司或本公司）监事会及全体监事保证 本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担法律责任。 2024 年 8 月 20 日，公司以书面形式发出本次监事会会议通知。2024 年 8 月 30 日，本次监事会以现场的方式召开。监事会会议应当出席的监事人数 3 名， 实际出席会议的监事人数 3 名，会议召开程序及出席监事人数符合有关规定， 表决结果合法有效。会议形成如下决议： 一、审议通过《关于审议公司 2024 年 H 股半年度业绩公告及 A 股半年度 报告的议案》 （一）公司 2024 年半年度业绩公告（H 股）和 2024 年半年度报告（A 股 ...

一、财务公司的基本情况 2024 年半年度中国交通建设股份有限公司 关于中交财务有限公司的风险持续评估报告 中交财务有限公司（以下简称"财务公司"）是经中国 银行业监督管理委员会批准，于 2013 年 7 月成立的非银行 金融机构。公司金融许可证机构编码 L0071H211000001，营 业执照统一社会信用代码 91110000071677369E。 财务公司由中国交通建设集团有限公司及中国交通建 设股份有限公司共同出资设立，成立之初注册资本金 35 亿 元人民币。2021 年 10 月，注册资本金增加至 70 亿元人民币， 其中中国交通建设集团有限公司持股 5%，中国交通建设股份 有限公司持股 95%。截至 2024 年 6 月末，财务公司员工人数 70 人。 财务公司目前营业执照写明的经营业务范围包括：（一） 对成员单位办理财务和融资顾问、信用鉴证及相关的咨询、 代理业务；（二）协助成员单位实现交易款项的收付；（三） 经批准的保险代理业务；（四）对成员单位提供担保；（五） 办理成员单位之间的委托贷款；（六）对成员单位办理票据 承兑与贴现；（七）办理成员单位之间的内部转账结算及相 应的结算、清算方案设计； ...

Financial Performance - For the six months ending June 30, 2024, the group's revenue was CNY 356.01 billion, a decrease of CNY 9.33 billion or 2.6% compared to CNY 365.35 billion in the same period of 2023[2]. - The gross profit for the same period was CNY 41.60 billion, an increase of CNY 1.69 billion or 4.2% from CNY 39.91 billion in 2023[2]. - Operating profit for the six months was CNY 20.53 billion, up CNY 0.78 billion or 4.0% from CNY 19.75 billion in 2023[2]. - The profit attributable to the owners of the parent company was CNY 12.02 billion, a decrease of CNY 0.39 billion or 3.1% from CNY 12.41 billion in the same period of 2023[2]. - Revenue from overseas markets was 69.46 billion yuan, accounting for 19.5% of total revenue, representing a growth of 4.1% year-on-year[75]. - The cost of sales decreased by 3.4% to 314.41 billion yuan compared to 325.44 billion yuan in the same period of 2023[77]. - Management expenses increased by 3.0% to 18.91 billion yuan, primarily due to increased R&D expenses[78]. - The operating profit margin improved from 5.4% in 2023 to 5.8% in 2024[79]. - The total revenue for the company for the six months ended June 30, 2024, was RMB 356.010 billion, a decrease from RMB 365.345 billion in the same period of 2023[86]. - The overall gross profit margin for the company increased from 10.9% in 2023 to 11.7% in 2024[86]. Contractual and Project Developments - The new contracts signed during the six months amounted to CNY 960.87 billion, an increase of 8.4% compared to CNY 886.69 billion in 2023[2]. - As of June 30, 2024, the group held an uncompleted contract amount of CNY 3,536.24 billion[2]. - The company signed new contracts worth $20.729 billion in countries participating in the "Belt and Road" initiative during the reporting period[18]. - The Middle East region accounted for new contracts totaling $4.803 billion[18]. - The cumulative new contract value since the "Belt and Road" initiative was proposed reached $255.487 billion[18]. - The company signed new contracts for urban construction projects in China totaling CNY 472.429 billion, an increase of 21.8% year-on-year, representing 55% of the infrastructure construction business[44]. - The company signed new overseas engineering contracts worth 191.39 billion yuan (approximately 27.15 billion USD), representing a year-on-year growth of 44.2% and accounting for 22% of its infrastructure construction business[46]. Technological Innovation and Development - The company aims to enhance core competitiveness through technological innovation and management innovation, focusing on expanding market share and optimizing service levels[6]. - The company is accelerating the development of key core technologies and aims to achieve significant original innovative results in the field of transportation infrastructure and marine engineering technology[8]. - The company is focused on technological innovation and the cultivation of leading technology enterprises to transform technological advantages into competitive advantages[9]. - The company launched the world's first fully autonomous ecological dredging intelligent platform ship, "Taihu Star," enhancing its technological innovation capabilities[22]. - The company has developed several groundbreaking tunneling machines, including the world's first ultra-large diameter hard rock vertical excavation machine, showcasing its advancements in equipment manufacturing[24]. Financial Management and Investment - The company is committed to improving asset management and reducing leverage, with a focus on optimizing existing assets and enhancing financial capabilities[7]. - The company is implementing a specialized work plan for optimizing and enhancing asset financing, focusing on the disposal of financial assets within a reasonable price range to supplement working capital[32]. - The company is actively expanding its diversified fund business, collaborating with banks and insurance institutions to establish funds aimed at supporting infrastructure development and the transformation of emerging industries[32]. - The company is committed to enhancing its market value management system in line with national policies and guidelines to improve the quality of listed companies[32]. - The company is enhancing its investment management and risk control to promote high-quality investment development[67]. Market Expansion and Internationalization - The company is committed to deepening overseas expansion and solidifying its high-quality development advantages, actively participating in the Belt and Road Initiative[10]. - The company is enhancing its internationalization strategy by integrating key national management mechanisms and completing the establishment of overseas organizations[10]. - The company aims to enhance its market influence in railway construction, having successfully entered markets in Africa, Asia, South America, and Oceania[16]. - The company is focusing on major projects in key regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao[40]. Risk Management and Compliance - The company emphasizes risk prevention and compliance as a priority for business operations, aiming to reduce interest-bearing debt and enhance financial risk warning systems[11]. - The group faces significant market risks due to macroeconomic fluctuations, particularly in infrastructure design and construction, which are sensitive to fixed asset investment and urbanization trends[115]. - The group operates in over 130 countries, facing various international risks including political, economic, and regulatory challenges, which may impact compliance and project execution[116]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.4005 per 10 shares (including tax) for the 2024 interim dividend[4]. - The company is actively implementing a mid-term dividend plan for 2024 to enhance dividend predictability and investor satisfaction[31]. - The proposed dividend for the year ending December 31, 2023, is RMB 0.29256 per share, totaling RMB 4.762 billion, approved by shareholders on June 17, 2024[170]. Research and Development - R&D expenditure for the reporting period was 9.905 billion yuan, accounting for 2.8% of operating revenue, an increase of 0.2 percentage points year-on-year[27]. - The company has established 27 post-doctoral research stations and is focused on cultivating a high-level innovative talent team[26]. - The company has been recognized as the only construction central enterprise with two National Engineering Research Centers, leading infrastructure construction to new heights[26]. Asset Management and Financial Position - The total assets as of June 30, 2024, reached RMB 40.781 billion, an increase from RMB 37.6605 billion as of December 31, 2023[181]. - The company's net assets increased to RMB 469,699 million, compared to RMB 459,170 million at the end of 2023, marking a growth of 2.3%[136]. - The total liabilities amounted to RMB 1,395,151 million, with current liabilities at RMB 879,009 million, reflecting an increase of 15.3% from RMB 762,254 million[134].

证券代码：601800 证券简称：中国交建 公告编号：临2024-047 中国交通建设股份有限公司 2024年半年度业绩说明会预告公告 中国交通建设股份有限公司（简称本公司或公司）董事会及全体董事保证 本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2024年9月3日（星期二）上午10:00-11:30 会议召开方式：现场转播+网络直播+网络互动 （一） 时间 2024年9月3日（星期二） 1. 上午10:00-11:30 通过上证路演中心视频转播现场会议； 2. 上午10:00-11:30 通过"路演中"平台网络直播会议； 1 本次说明会以现场转播+网络直播+网络互动结合召开，公司将针对2024年 半年度经营成果、业务展望等情况与投资者进行互动交流，就投资者普遍关注的 问题进行回答。 二、说明会召开的时间、地点 投资者可以在2024年8月31日至9月2日16:00前登录上证路演中心网页点 击"提问预征集"栏目或通过互联网发送公司邮箱（ir@ccccltd.cn）进行提问， 公司将在说明会上就投资者普遍关注的问题进行 ...

中国交通建设股份有限公司 关于境外子公司离岸人民币绿色债券 发行完成的公告 证券代码：601800 证券简称：中国交建 公告编号：临 2024-046 中国交通建设股份有限公司（ 简称本公司或公司）董事会及全体董事保证本 公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、 准确性和完整性承担个别及连带责任。 本次绿色债券的成功发行有利于拓宽融资渠道，改善负债结构、进一步增强 资本实力，树立品牌形象、增强国际化经营能力，符合公司整体发展战略。同时， 绿色债券作为可持续金融工具，有助于提升公司的社会责任形象，吸引 ESG（ 环 境、社会和治理）投资者，促进公司在环境保护和可持续发展领域的积极贡献， 为公司在市场竞争中获取更多优势。 特此公告。 中国交通建设股份有限公司董事会 2024 年 8 月 20 日 2024 年 8 月 19 日，公司附属公司 CCCI Treasure Limited 简称发行人）发 行由公司提供担保的 28 亿离岸人民币绿色债券 简称本次绿色债券）的发行工 作已经完成，并于 2024 年 8 月 20 日于香港联合交易所有限公司上市。 本次绿色债券的发行及担保事项 ...

证券代码：601800 证券简称：中国交建 公告编号：临 2024-045 中国交通建设股份有限公司 关于境外子公司离岸人民币绿色债券 发行完成的公告 中国交通建设股份有限公司（ 简称本公司或公司）董事会及全体董事保证本 公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、 准确性和完整性承担个别及连带责任。 2024 年 8 月 8 日，公司附属公司 CCCI Treasure Limited 简称发行人）发行 由公司提供担保的 21 亿离岸人民币绿色债券 简称本次绿色债券）的发行工作 已经完成，并于 2024 年 8 月 9 日于香港联合交易所有限公司上市。 本次绿色债券的发行及担保事项已经公司第五届董事会第三十次会议审议 通过。发行人于 2024 年 7 月 31 日开始发行路演推介工作，于 2024 年 8 月 1 日 完成本次绿色债券的定价工作。本次绿色债券已取得国家发展和改革委员会出具 的《企业借用外债审核登记证明》。 本次绿色债券的成功发行有利于拓宽融资渠道，改善负债结构、进一步增强 资本实力，树立品牌形象、增强国际化经营能力，符合公司整体发展战略。同时， 绿色债券作为可持续 ...

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of the company [3]. Core Views - The China Communications Construction Group has proposed to implement a mid-term dividend plan for 2024, suggesting a dividend amount not exceeding the net profit attributable to shareholders for the first half of 2024 [1]. - New contracts signed in Q2 2024 show stable growth, with a total of 453.6 billion yuan, a year-on-year increase of 6%, and significant growth in overseas contracts, which rose by 82% [1]. - The company is focusing on state-owned enterprise reform to enhance value creation and realization, including stock incentives and plans for a separate listing of its design unit [1]. - The company aims to achieve a net profit of 25.7 billion yuan in 2024, with a projected growth rate of 8% [2]. Summary by Sections Financial Performance - Revenue for 2023 is projected at 758.7 billion yuan, with a growth rate of 5.1%. The net profit for 2023 is expected to be 23.8 billion yuan, reflecting a growth rate of 23.6% [2]. - The company anticipates a net profit of 25.7 billion yuan in 2024, with an EPS of 1.58 yuan per share [2]. - The P/E ratio for 2024 is estimated at 5.47, indicating a favorable valuation [2]. Strategic Initiatives - The company is enhancing shareholder returns by increasing the dividend payout ratio to 20% in 2023, with expected dividend yields of 3.7% for A-shares and 7.6% for H-shares in 2024 [1]. - The focus on urban construction and overseas markets is expected to drive growth, particularly in regions like the Middle East, Africa, and Southeast Asia [1]. Future Outlook - The company aims for a new contract growth rate of at least 13.2% and revenue growth of 8.2% in 2024 [1]. - The projected net profits for 2024, 2025, and 2026 are 25.7 billion yuan, 27.7 billion yuan, and 29.9 billion yuan, respectively [2].

Investment Rating - The report maintains a "Buy" rating for China Communications Construction Company (601800.SH) [3] Core Views - The controlling shareholder, China Communications Group, proposed a mid-term dividend for 2024 to enhance shareholder returns and investment value, with a current dividend yield of approximately 3.7% [1] - The company is actively exploring market value management strategies, which are expected to enhance valuation levels in response to the State-owned Assets Supervision and Administration Commission's emphasis on including market value management in performance assessments [1] - The company reported a robust growth in new contracts, with a total of 960.9 billion yuan signed in H1 2024, reflecting an 8.4% year-on-year increase, driven by strong performance in both domestic and overseas markets [2] Financial Performance Summary - Revenue for 2022 was 721.9 billion yuan, with a growth rate of 5.3%, and is projected to reach 821.8 billion yuan in 2024, reflecting an 8.3% growth [6] - The net profit attributable to the parent company was 19.3 billion yuan in 2022, with a year-on-year growth of 7.0%, expected to increase to 25.6 billion yuan in 2024, representing a growth of 7.6% [6] - The earnings per share (EPS) for 2024 is projected to be 1.57 yuan, with a price-to-earnings (P/E) ratio of 5.4 times [6] Business Segment Performance - In H1 2024, the infrastructure construction segment signed contracts worth 863.4 billion yuan, a 9.4% increase year-on-year, with urban construction and overseas projects showing significant growth of 22% and 44%, respectively [2] - The company secured 7.6 billion yuan in domestic contracts and 1.96 billion yuan in overseas contracts, with overseas orders accelerating in Q2, showing an 82% year-on-year increase [2]

证券代码：601800 证券简称：中国交建 公告编号：临 2024-044 中国交通建设股份有限公司 关于收到控股股东提议实施中期分红暨落实 2024 年度"提质增效重回报"行动方案的公告 中国交通建设股份有限公司（简称公司或本公司）董事会及全体董事保证 本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担法律责任。 公司于 2024 年 8 月 6 日收到公司控股股东中国交通建设集团有限公司（简 称中交集团）出具的《关于提议中国交通建设股份有限公司实施 2024 年度中期 分红的函》，现将相关情况公告如下： 一、提议情况 为提高上市公司股东收益和投资价值，与投资者共享发展成果，增强股东 获得感，中交集团提议公司在保证正常经营和长期发展不受影响的前提下实施 2024 年度中期分红，提议公司董事会提请股东大会授权董事会根据股东大会决 议在符合利润分配的条件下制定并实施 2024 年度中期分红预案，建议分红金额 不超过 2024 年上半年归属于上市公司股东的净利润（以中国企业会计准则和国 际财务报告准则下的金额孰低者为准）。 中交集团承诺将在公司股东大会审议该等事项时投" ...

[Table_Page] 公告点评|基础建设 证券研究报告 [Table_Title] 中国交建(601800.SH)/中国交通建 设(01800.HK) | --- | --- | |-------------------------|--------------------| | 公司评级 [Table_Invest] | 买入-A/买入-H | | 当前价格 | 8.65 元/4.61 港元 | | 合理价值 | 10.27 元/5.48 港元 | | 前次评级 | 买入/买入 | | 报告日期 | 2024-08-02 | 24Q2 海外新签高增，筹划提高分红频率 [Table_Summary] 核心观点： ⚫ Q2 新签稳增，境外新签保持高景气。根据公司经营合同公告，24H1， 新签合同额 9609 亿元，同比+8%，其中境内/境外新签分别 7648/1961 亿元，同比+3%/39%；24Q2，新签合同额 4536 亿元，同比+6%，其 中境内/境外分别 3487/1048 亿元，同比-6%/+82%，包括澳大利亚墨 尔本雅拉有轨电车第五期运维项目（120 亿元）等重大项目。 ⚫ 聚焦国企改革，筹 ...