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China State Construction wins RMB 22.84 bln orders

Jan. 19, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, announced yesterday that it recently won the bids for seven construction projects worth RMB 22.84 billion in total.

The company said in a statement filed with the Shanghai Stock Exchange that the contract value was equivalent to 6.2% of the company's audited operating revenue in 2010.

Last year, the Shanghai-listed firm signed almost RMB 851.4 billion worth of construction contracts, up 14.6% year on year.

The company said earlier that it expected its net profit to jump about 40% year on year in 2011. In 2010, the company booked a net profit of RMB 9.24 billion, China Knowledge reported earlier.

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