China Comm Const (1800 HK): New Contract Growth Accelerated

545 Views18 Aug 2023 08:00
New contract growth accelerated to 15.5% in 2Q23, and we estimate its end-1H23 backlog is enough to cover 5.1x the projected FY23 revenue. Relative to an ROE of 7-8%, its 0.21x P/B is inexpensive.
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