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on september 2, china construction (601668) held a semi-annual performance briefing for 2024.

at the meeting, wen bing, president of china construction, said that since the beginning of this year, in the face of a severe and complex external environment, the company has further highlighted the primary task of high-quality development, united and led all employees to overcome difficulties and work hard, and solidly promoted the seven tasks of "grasping rectification, maintaining growth, promoting innovation, deepening reform, consolidating the foundation, preventing risks, and strengthening party building." the company's reform, innovation and development has made new progress and achieved new results.

from the operational perspective, huang jie, vice president and chief financial officer of china construction, said that in the first half of the year, the company insisted on serving the national strategy and increasing its efforts to expand the market. the company actively integrated into and served the national strategy, accurately connected with the development needs of regional central cities, took the initiative to plan and actively participated, and landed a large number of high-end projects, which effectively drove the growth of order scale. in the first half of the year, the company's newly signed contract amount was 2.48 trillion yuan, a year-on-year increase of 10.0%, and the market share was 15.1%, an increase of 2.1 percentage points year-on-year. the newly signed contract amount in major national strategic regions such as the beijing-tianjin-hebei region, the yangtze river economic belt, the guangdong-hong kong-macao greater bay area, and the yellow river basin was 2.1 trillion yuan, accounting for 85.8%.

at the same time, china construction focused on optimizing its business structure, and the quantity and quality of its housing construction business increased. "the company focused on improving the quality of existing assets and adjusting the incremental structure, increased its participation in the 'three major projects', continued to deploy science, education, culture, health, sports, industrial plants, urban renewal and other sub-sectors, and continued to consolidate its advantages in housing construction business. in the first half of 2024, the company's housing construction business signed new contracts worth 1.53 trillion yuan, a year-on-year increase of 5.7%; among them, the new contracts for referendum projects such as science, education, culture, health, sports, and industrial plants amounted to 658.6 billion yuan, a year-on-year increase of 15.6%, and the proportion increased by 3.7 percentage points to 43.0%."

"in addition, the company has vigorously expanded overseas markets and its overseas business has grown rapidly. the company has thoroughly implemented the major initiative of jointly building the 'belt and road', unswervingly promoted market development, strengthened international cooperation, and made every effort to tackle major landmark projects and accelerate the high-quality development of overseas business. in the first half of 2024, the newly signed contract value of overseas business was 129.1 billion yuan, achieving exponential growth; new orders worth tens of billions of yuan were won in hong kong and saudi arabia respectively." huang jie said.

looking ahead to the second half of the year, wen bing said that the company will earnestly implement the requirements for improving the quality of central enterprises' listed companies, commit to the strategic goal of "one creation and five strengths" and the "one, six, six" strategic path, further highlight high-quality development, strive to complete various annual goals and tasks, focus on enhancing core functions, improving core competitiveness, continuously becoming stronger, better and bigger, and strengthen communication and exchanges with the capital market.

"at present, the adverse effects brought about by changes in the external environment are increasing, domestic effective demand is insufficient, structural adjustments continue to deepen, market competition in the construction industry is intensifying, and the real estate market is still in a period of deep adjustment, which brings certain challenges to the company's development. however, the overall stable, steady and positive trend of my country's economic operation has not changed. as the effects of macroeconomic policies are gradually released, new momentum and new advantages are accelerated, and corporate development will also usher in more opportunities. the company will firmly implement the country's major strategic deployments, participate more in the construction of the "three major projects", actively serve the country's "dual" construction requirements, vigorously expand new markets for urban renewal and urban operations, study and layout new tracks for strategic emerging industries, accelerate the cultivation and development of new quality productivity, and promote the company's high-quality development while serving the overall national situation. achieve new achievements." huang jie said.

looking back, on the evening of august 30, china construction released its 2024 semi-annual report, and its overall operating performance maintained steady growth. in the first half of 2024, operating income was 1.14 trillion yuan, a year-on-year increase of 2.8%; net profit was 29.45 billion yuan, a year-on-year increase of 1.6%; non-net profit was 26.95 billion yuan, a year-on-year increase of 1.9%. basic earnings per share in the first half of the year were 0.71 yuan, a year-on-year increase of 1.4%.

the financial report shows that in the first half of this year, the company's construction business had strong growth momentum in new orders. against a high base in the same period last year, the newly signed contract value was 2.2882 trillion yuan, a year-on-year increase of 13.7%, which has completed 55% of the annual new signing target, helping the overall operating income to continue its rapid growth trend.

at the same time, the company's real estate business has accelerated its adaptation to the new development model, strengthened precise investment, strengthened refined management and control of the entire process, and increased sales. during the reporting period, the contract sales amounted to 191.5 billion yuan, the contract sales area was 6.55 million square meters, and the operating income was 116.4 billion yuan. relying on sound financials and high-quality product strength, china construction has conducted in-depth research on the real estate market situation and policy changes, concentrated on the layout of high-quality plots in first- and second-tier cities, and further increased the land reserves in core cities. in the first half of the year, 28 new plots of land were purchased, the land reserves at the end of the period were 84.54 million square meters, and the new land reserves were 3.41 million square meters.