Summary by Moomoo AI
China Transport Construction Co., Ltd. (“Chinatown Construction”) has announced key operating data for the first quarter of 2024. The report showed that the amount of new contracts delivered in the quarter reached RMB5,072.98 billion, an increase of 10.81% over the same period last year, meeting the annual target of 25.49%. Among them, new contracts for infrastructure construction business, infrastructure design business, dredging business and other business are RMB4,644.26 billion, RMB101.31 billion, RMB292.19 billion and RMB35.22 billion, respectively. New contracts signed abroad amounted to RMB912.35 billion, representing 18% of the total number of new contracts signed. Across all construction businesses, businesses such as urban construction grew by 60.18% year-on-year, while port construction, road and bridge construction and rail construction businesses declined respectively. The construction and security contracts expected to be tendered are RMB215.03 billion.