地产和投资业务不及预期，上海建工一季度营收下滑近五成，称“力争二季度扭亏”

Core Points - In 2024, Shanghai Construction Group achieved a revenue of 300.22 billion yuan, with a significant decline in real estate development revenue, which fell by 56.41% year-on-year to 3.632 billion yuan, accounting for only 1.21% of total revenue [2][4] - The company reported a net profit attributable to shareholders of 2.168 billion yuan, a year-on-year increase of 39.15%, but the net profit after deducting non-recurring gains and losses decreased by 44.47% to 613 million yuan [3][4] - The first quarter of 2024 saw a 46.06% year-on-year decline in revenue, with a net loss of 179 million yuan, attributed to a decrease in construction bidding volume and slower order execution [2][7] Revenue Breakdown - Total revenue for 2024 was 300.22 billion yuan, a slight decrease of 1.45% compared to the previous year [4] - The construction business generated 266.68 billion yuan, a growth of 0.65%, making up 89.12% of total revenue [4] - Real estate development revenue was only 3.632 billion yuan, significantly down from the previous year, with new signed contracts in this sector accounting for just 2.40% of total new contracts [4][5] Future Outlook - The company aims to sign new orders worth 400 billion yuan and achieve a revenue target of 260.2 billion yuan for 2025 [7] - The company plans to optimize its real estate development business and improve asset turnover to enhance performance [6][7] - Shanghai Construction Group is focusing on six emerging businesses, which completed nearly 100 billion yuan in new contracts in 2024, with the new infrastructure sector seeing a 67.9% increase [8][9]