China Communications Construction H1 2026 Revenue Falls 1.16%, Net Profit Drops 23.95%

China Communications Construction Company (CCCC) released its 2026 interim report on August 27. In the first half of the year, the company achieved operating revenue of RMB 333.16 billion, down 1.16% year-on-year; net profit attributable to shareholders of the listed company was RMB 7.277 billion, down 23.95%; basic earnings per share stood at RMB 0.43. During the reporting period, the gross output value of the national construction industry fell 12.71% year-on-year, a decline 7.01 percentage points steeper than that of fixed-asset investment, reflecting the continued contraction of the domestic construction sector.

In the first half, the company's newly signed contracts totaled RMB 902.9 billion, achieving 47% of its annual target, while operating revenue reached 43% of the annual target. By business segment, new contracts in the "all-transport" segment reached RMB 428.617 billion, up 18.39% year-on-year; "all-city" contracts fell 24.60% to RMB 326.605 billion; "all-water" contracts dropped 35.24% to RMB 46.826 billion; "all-digital" contracts declined 48.04% to RMB 9.624 billion; "all-green" contracts decreased 8.72% to RMB 81.021 billion; and other segments saw a 36.92% fall to RMB 10.256 billion.

Overseas, new contracts in the first half reached RMB 241.678 billion, up 20.61% year-on-year, accounting for 27% of total new contracts. Overseas operating revenue was RMB 88.944 billion, up 30.53% year-on-year, representing approximately 27% of total revenue.

On technology, the company invested RMB 8.151 billion in R&D during the first half, equivalent to 2.45% of revenue, focusing on smart highways, smart ports and shipping, advanced engineering vessels, industrial software, water conservancy and hydropower, and underground space development. It won four 2025 State Science and Technology Progress Awards, including a first prize for key technologies in the steel-concrete immersed tube tunnel of the Shenzhen-Zhongshan link. Breakthroughs were made in industrialized intelligent bridge construction and in technologies for high-cold permafrost roads on the Qinghai-Tibet Plateau. Core components such as extra-large-diameter shield main bearings and 5,000-tonne hydraulic cylinders achieved independent breakthroughs, and the localization rate of a new-generation LNG dual-fuel trailing suction hopper dredger exceeded 90%.

On shareholder returns, under the Cash Dividend Plan (2025–2027), the company guarantees an annual cash dividend payout ratio of no less than 20%. It has completed the final cash dividend for 2025, distributing approximately RMB 3.172 billion in total, with an annual dividend yield of 2.5%. Since 2025, the company and its controlling shareholder have repurchased and increased holdings by RMB 751 million, with all repurchased shares cancelled.