Expects an Increase over 40% in Net Profit for Interim Results 2018
HONG KONG, CHINA – Media OutReach – 2 August 2018 – Jujiang Construction Group Co., Ltd. (“Jujiang Construction”, together with its subsidiaries, the “Group”; stock code: 1459) is pleased to announce a positive profit alert. The net profit of the Group for the six months ended 30 June 2018 (the “Period”) is expected to increase by at least 40% compared to that for the corresponding period of last year.
The increase in the net profit of the Group was mainly attributable to the significant increase in revenue for the Period as a result of increase in backlog value on hands as at 31 December 2017 and the new backlog value from the new contracts signed by the Group for the Period. During the Period, the Group entered into new contracts of aggregated backlog value of approximately RMB4.0 billion, representing an increase of over 100% as compared to that for the corresponding period of last year.
Mr. Lv Yaoneng, Chairman of Jujiang Construction, said, “Looking ahead, as the Chinese government continues to push forward with its ‘One Belt, One Road’ initiative, along with ongoing urbanization, the construction industry, as a traditional industry, will continue to hold tremendous potential for development and a promising future. For the first half year of 2018, we has achieved remarkable results by making full use of the Company’s own brand superiority and actively expanding new business areas. Looking forward, we will tone up business expansion and enhance market competitiveness, so as to maximize the return for investors and shareholders.”
About Jujiang Construction Group Co., Ltd.
Jujiang Construction was established in 1965 as one of the earliest construction companies in Jiaxing, Zhejiang Province. With more than 50 years’ experience in the construction industry, the Group has built a successful track record in the industry in which the Group operates. The Group provides fully-integrated construction solutions, which consist of construction contracting and design, survey and consultancy services for building construction projects of all types and scales nationwide. With the Company’s development strategy of “major customers”, the Company has not only enhanced good relationship with local customers, but also expanded its engagement with China’s top ten real estate companies, such as Country Garden, Vanke, Sunac etc..