Ankündigung • Jun 30
Guangdong Construction Engineering Group Co., Ltd. to Report First Half, 2026 Results on Aug 22, 2026 Guangdong Construction Engineering Group Co., Ltd. announced that they will report first half, 2026 results on Aug 22, 2026 Declared Dividend • May 20
Dividend of CN¥0.14 announced Dividend of CN¥0.14 is the same as last year. Ex-date: 22nd May 2026 Payment date: 22nd May 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Apr 14
Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 08, 2026 Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: 11F, No. 85, Liuhua Road, Liwan District, Guangzhou, Guangdong China Ankündigung • Mar 31
Guangdong Construction Engineering Group Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Guangdong Construction Engineering Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Ankündigung • Dec 31
Guangdong Construction Engineering Group Co., Ltd. to Report Fiscal Year 2025 Results on Apr 15, 2026 Guangdong Construction Engineering Group Co., Ltd. announced that they will report fiscal year 2025 results on Apr 15, 2026 Ankündigung • Sep 30
Guangdong Construction Engineering Group Co., Ltd. to Report Q3, 2025 Results on Oct 27, 2025 Guangdong Construction Engineering Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 27, 2025 Ankündigung • Jul 02
Guangdong Construction Engineering Group Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Guangdong Construction Engineering Group Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Ankündigung • May 22
Guangdong Construction Engineering Group Co., Ltd Approves the Cash Dividend for 2024 Guangdong Construction Engineering Group Co., Ltd. at its Annual General Meeting held on 20 May 2025, approved the cash dividend/10 shares (tax included) of CNY 1.40000000 for 2024. Ankündigung • Apr 29
Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 20, 2025 Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Ankündigung • Apr 15
Guangdong Construction Engineering Group Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Guangdong Construction Engineering Group Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 1.40000000 for the year 2024. Ankündigung • Mar 31
Guangdong Construction Engineering Group Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Guangdong Construction Engineering Group Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Ankündigung • Dec 31
Guangdong Construction Engineering Group Co., Ltd. to Report Fiscal Year 2024 Results on Apr 12, 2025 Guangdong Construction Engineering Group Co., Ltd. announced that they will report fiscal year 2024 results on Apr 12, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.093 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.05 (down from CN¥0.093 in 3Q 2023). Revenue: CN¥14.7b (down 17% from 3Q 2023). Net income: CN¥186.7m (down 46% from 3Q 2023). Profit margin: 1.3% (down from 2.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Ankündigung • Sep 30
Guangdong Construction Engineering Group Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Guangdong Construction Engineering Group Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥3.66, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Construction industry in China. Total loss to shareholders of 31% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥1.74 per share. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.077 (vs CN¥0.12 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.077 (down from CN¥0.12 in 2Q 2023). Revenue: CN¥12.9b (down 27% from 2Q 2023). Net income: CN¥288.8m (down 27% from 2Q 2023). Profit margin: 2.2% (in line with 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Construction industry in China. Ankündigung • Jun 29
Guangdong Construction Engineering Group Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Guangdong Construction Engineering Group Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Ankündigung • Jun 01
Guangdong Construction Engineering Group Co., Ltd. Announces Final Dividend of A Shares for 2023, Payable on 07 June 2024 Guangdong Construction Engineering Group Co., Ltd. announced final cash dividend of CNY 1.55000000 per 10 A shares (tax included) for 2023. Record date: 06 June 2024. Ex-date: 07 June 2024. Payment date: 07 June 2024. Reported Earnings • May 04
First quarter 2024 earnings released: EPS: CN¥0.045 (vs CN¥0.061 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.045 (down from CN¥0.061 in 1Q 2023). Revenue: CN¥13.6b (down 14% from 1Q 2023). Net income: CN¥168.9m (down 18% from 1Q 2023). Profit margin: 1.2% (down from 1.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Ankündigung • May 01
Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 20, 2024 Guangdong Construction Engineering Group Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 9F, No. 85, Liuhua Road, Liwan District, Guangzhou, Guangdong China Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.50 in FY 2022) Full year 2023 results: EPS: CN¥0.43 (down from CN¥0.50 in FY 2022). Revenue: CN¥80.9b (down 2.1% from FY 2022). Net income: CN¥1.53b (down 10% from FY 2022). Profit margin: 1.9% (down from 2.1% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Construction industry in China. Ankündigung • Mar 30
Guangdong Construction Engineering Group Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Guangdong Construction Engineering Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.33 in FY 2022) Full year 2023 results: EPS: CN¥0.43 (up from CN¥0.33 in FY 2022). Revenue: CN¥81.0b (up 379% from FY 2022). Net income: CN¥1.52b (up 290% from FY 2022). Profit margin: 1.9% (down from 2.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in China. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥3.58, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Construction industry in China. Total loss to shareholders of 49% over the past year. Board Change • Feb 01
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Non-Independent Director Yumin Zhang was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Jan 16
Guangdong No.2 Hydropower Engineering Company, Ltd. Approves Board Appointments Guangdong No.2 Hydropower Engineering Company, Ltd. at its 1st extraordinary general meeting of 2024 held on 12 January 2024, approved the appointment of Zhang Yumin, Ma Chunsheng, Li Xuemei and Dai Zhibo as non-independent director and Bai Li as non-independent director. Ankündigung • Dec 29
Guangdong No.2 Hydropower Engineering Company, Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Guangdong No.2 Hydropower Engineering Company, Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.093 (vs CN¥0.056 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.093 (up from CN¥0.056 in 3Q 2022). Revenue: CN¥17.7b (up 463% from 3Q 2022). Net income: CN¥348.3m (up 421% from 3Q 2022). Profit margin: 2.0% (down from 2.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in China. Ankündigung • Sep 30
Guangdong No.2 Hydropower Engineering Company, Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Guangdong No.2 Hydropower Engineering Company, Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 New Risk • Sep 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 38% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Paying a dividend despite having no free cash flows. High level of non-cash earnings (38% accrual ratio). Shareholders have been substantially diluted in the past year (212% increase in shares outstanding). Reported Earnings • Aug 31
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥17.6b (up 495% from 2Q 2022). Net income: CN¥394.9m (up 188% from 2Q 2022). Profit margin: 2.2% (down from 4.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in China. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.061 (vs CN¥0.039 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.061 (up from CN¥0.039 in 1Q 2022). Revenue: CN¥15.8b (up 380% from 1Q 2022). Net income: CN¥205.3m (up 336% from 1Q 2022). Profit margin: 1.3% (down from 1.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in China. Board Change • Apr 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 5 experienced directors. 1 highly experienced director. Chairman of the Board Yan Hui Xie is the most experienced director on the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.27 in FY 2021) Full year 2022 results: EPS: CN¥0.31 (up from CN¥0.27 in FY 2021). Revenue: CN¥16.9b (up 18% from FY 2021). Net income: CN¥370.5m (up 13% from FY 2021). Profit margin: 2.2% (down from 2.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Construction industry in China. Ankündigung • Jan 11
Guangdong No.2 Hydropower Engineering Company, Ltd. (SZSE:002060) completed the acquisition of Guangdong Construction Engineering Group Co.,Ltd from Guangdong Construction Engineering Group Holding Co., Ltd. Guangdong No.2 Hydropower Engineering Company, Ltd. (SZSE:002060) agreed to acquire Guangdong Construction Engineering Group Co.,Ltd from Guangdong Construction Engineering Group Holding Co., Ltd. on March 18, 2022. Transaction still needs to be reviewed and approved by the company's general meeting of shareholders, and can be formally implemented after obtaining the review, approval or approval required by relevant laws and regulations. As of September 7, 2022, Guangdong No.2 Hydropower Engineering Company, Ltd. (SZSE:002060) announced that it will issue 2,191,452,567 shares for CNY 4.79 per share making total consideration at CNY 10,497.057800 million for the transaction. As of December 2, 2022, The transaction has been approved the anti trust authorities and subject to lock up arrangement. As of November 9, 2022, CSRC reviewed and approved the transaction conditionally. The transaction was approved by the following: Construction Holding’s internal decision-making body, Pre-approval of the State-owned Assets Supervision and Administration Commission of Guangdong, 23rd session of the company’s 7th directorate; 26th session of the company’s 7th directorate; company’s 2nd special shareholders’ meeting for 2022, State-owned Assets Supervision and Administration Commission of Guangdong, the transaction has obtained the "Decision on No Further Review of the Anti-monopoly Review on Concentration of Business Operators" issued by the State Administration for Market Regulation. The transaction still needs to be approved by CSRC. CITIC Securities Company Limited (SHSE:600030) acted as financial advisor, King & Wood Mallesons acted as legal advisor and Moore Stephens Da Hua acted as accountant to Guangdong No.2 Hydropower Engineering Company, Ltd. (SZSE:002060).
Guangdong No.2 Hydropower Engineering Company, Ltd. (SZSE:002060) completed the acquisition of Guangdong Construction Engineering Group Co.,Ltd from Guangdong Construction Engineering Group Holding Co., Ltd. on January 9, 2023. 
