cscec announces full year performance in 2019 | 中國海外集團-pg电子(中国)官方网站

(march 25, 2020) china state construction international corporation ("china state construction international", hereinafter referred to as the "group", stock code: 03311) today announced its 2019 annual results. as of december 31, 2019, the group achieved a turnover of hk$61.670 billion, a year-on-year increase of 10.9%; profit attributable to shareholders was hk$5.413 billion, a year-on-year increase of 20.3%. the board of directors recommended the payment of a final dividend of hk16 cents per share. together with the interim dividend of hk16 cents per share, the total cash dividend for the year was hk32 cents per share.

in 2019, unilateralism and trade protectionism in the united states and other large economies have risen, and global trade has fallen into a trend of weakness, further dragging down the slowdown of global economic development, and increasing the risk of crisis resurgence. the escalation of trade frictions, geopolitical tensions and other negative factors are intertwined. the growth of major economies has slowed almost simultaneously. central banks have gradually adjusted the direction of monetary policy. capital market volatility has intensified. the road to global economic recovery has become more tortuous and full of challenges.

the chinese economy has maintained an overall stable and stable development trend in 2019. the annual economic growth rate is 6.1%, and the gdp is approaching the one-hundred-billion mark, showing strong growth resilience. hong kong’s economy fell by a further 3.2% in the third quarter after a 0.5% quarter-on-quarter decline in the second quarter of 2019, indicating that there has been a technical recession and entering the economic trough following the 2008 financial tsunami. macao's economy has recovered after ten consecutive quarters of growth. the moderately diversified economy has achieved initial results, and economic restructuring still has a long way to go.

facing the complex external environment, the group proactively adjusted its operating structure based on the strategy of balancing scale growth with leverage and cash flow: reducing the proportion of long-term project orders in mainland china, actively obtaining compliance with laws and regulations, rapid turnover, and considerable yield infrastructure investment projects; intensify the expansion of the hong kong and macao markets, and strive to play the role of "stabilizer" for overseas business. the group's annual business plan has been completed well, and the quality of development has been improved.

2020 will be the closing year of the 13th five-year plan. the group will continue to deepen reforms and develop high-quality in an all-round way, and continue to create value for shareholders. although the main business market of the group is facing challenges due to the new crown virus epidemic and other factors, the group still has full confidence in its own competitive advantages and execution capabilities, and has the ability to move forward steadily in a volatile market environment.

hong kong and macau will continue to strengthen their leading positions in the construction market, actively explore the market, follow up various business areas such as government projects and private projects, and focus on large-scale construction projects such as public housing, hospitals, and airports. continue to seek opportunities for investment to drive contracting projects and explore the reconstruction of old buildings. follow the policy and market orientation closely and actively integrate into the construction of the guangdong-hong kong-macao greater bay area. leverage the existing advantages of hong kong and macao in technology, management, quality and brand, explore and promote the pilot application of hong kong and macao engineering models in the mainland, and use differentiated advantages to obtain high-quality projects.

further improve the investment management system, and refine the investment research and project management of the mainland business. on the basis of the existing investment map, establish a standardized evaluation system for various regional markets and different types of investment projects, further deepen the scientific investment model guided by the investment map, give full play to the indicator role of the financial model, and improve the pertinence and objectiveness of investment evaluation sex. in addition to investment projects, we are actively exploring opportunities to obtain projects through technology management, china shipping heli and other channels.

china state construction industry corporation (stock code: 00830) will continue to increase market expansion in the curtain wall business in hong kong and macau; the development strategy of the mainland business is profit-first and moderate scale; the north american region strengthens the concentration of resources and improves the quality of development.

while cultivating the existing market, the group will actively respond to the national "one belt one road" initiative, steadily and orderly research overseas business, make use of the talents, experience, language and other advantages of the hong kong and macau markets, and deepen the policies and regulations of the english and portuguese markets. research, pay attention to personnel training and localized management, strengthen coordination and linkage with all units in the china construction department, maintain patience and determination, and strive to contribute to the group's performance as soon as possible.