Shi Dahua, president of the company, revealed that the company's 2008 operating revenue target is RMB 210 bln. Operating costs will be controlled at RMB 188.4 bln and the value of new contracts will amount to RMB 275 bln. As of the end of May 2008, it has completed new contracts for RMB 130.5 bln, a 77% increase YOY. Of the RMB 130.5 bln in contracts, infrastructure construction contracts amount to RMB 111.4 bln, a 76.2% increase YOY.

Shi expressed that in order to consolidate and strengthen the company's leading position in the Chinese and Asian construction markets, it will remain involved in large-scale and high-profit infrastructure projects and products with advanced technology and equipment. He also added that the company plans to further expand its real estate business, infrastructure construction investments and mining resource exploration with its strong capabilities in the current infrastructure industry. In addition, it will cut operating costs and improve operational efficiency in order to increase profit.


Source: China Securities News

Date: 26 Jun 2008

CN01/BG/MZ/AR/KM