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China State Con (03311.HK) held a board meeting on August 19 to approve mid-term performance.
China State Con (03311.HK) announced on August 5th that the board of directors meeting will be held on August 19, 2024 (Monday) to approve the unaudited interim results of the company and its subsidiaries for the six months ending June 30, 2024, and to consider the payment of interim dividends (if any).
CHINA STATE CON: Date of Board Meeting
China State Construction Issues 2 Billion Yuan of Medium-Term Bonds
China State Con International's subsidiary completed the issuance of 2 billion yuan medium-term notes.
On July 25, Geelong Hui reported that China State Con International (03311.HK) announced that its subsidiary, China State International Investment Group Co. Ltd. ("Issuer"), completed the public issuance of the second medium-term notes for the year 2024 to professional investors in the Mainland of China on July 19, 2024. The total principal amount of the notes is RMB 2 billion, with a term of 5 years and a coupon rate of 2.30%. Both the Issuer and the notes obtained the "AAA" credit rating of the joint credit rating agency, China Chengxin International Credit Rating Co., Ltd.
Major Bank Rating | Haitong International: Raises China State Con's target price to HKD 14.7, and ROE and operating cash flow continue to improve.
Haitong International released a research report indicating that the ROE of China State Con for the 2023 fiscal year reached 15.3%. Operating cash flow turned positive, reaching HKD 0.5 billion. The management is confident about further improvement of ROE and operating cash flow. More and more MiC technology (modular integrated construction) related projects are driving business growth in the Hong Kong and Macao regions, and the development of the Northern Metropolis has also brought new commercial contracts to the company. The group's target for the 2024 fiscal year is to sign new contracts amounting to no less than HKD 210 billion, maintain double-digit growth in net income, maintain a dividend payout ratio of about 30%, and expect a proportion of technology-related businesses that will not be less than.
Brokerage Focus: CITIC Securities expects a turbulent upward trend in the A-share market in the second half of the year.
Jingu finance news | CCB international releases its outlook on Hong Kong stock market strategy for the second half of the year. The Hong Kong stock bear market since 2023 ended in January this year and has entered a shaking bull market. The Chinese fundamentals remain moderately repaired, and the policy tone continues to be based on stability. The chance of issuing strong stimulus policies is small, and the "strong production and weak demand" pattern will persist for a while, with a slight fluctuation in corporate profit recovery. The orderly slowdown of inflation and employment in the United States, along with a moderate economic growth, is expected to result in the earliest Fed rate cut in September this year and marginally benefit Hong Kong stock liquidity. The Hang Seng Index is currently at a historically low valuation level, and listed companies are actively buying back and increasing dividends.
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