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7 stories mentioning SHA:601669Updated 3d ago

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Asia

Power Construction of China Posts 9.7% Drop in H1 New Contracts

Power Construction Corp. of China (SHA:601669) secured 619.8 billion yuan in new contracts during the first half of the year, down 9.7% decrease compared to the same period in 2025, according to a Tuesday filing with the Shanghai Stock Exchange.The power infrastructure company signed a total of 4,190 contracts across various sectors, including energy projects, water resources, environmental works, and urban development.The number of overseas projects jumped 39% year on year, while the number of domestic projects dropped 22% from the prior year.The company's shares slipped over 1% in late-morning trade Tuesday.

SHA:601669
Asia

Power Construction of China Secures 8.93-Billion-Yuan Iraq Water Transmission Contract

Power Construction of China (SHA:601669) subsidiary Sinohydro Bureau 5 signed an about 8.93-billion-yuan subcontract with Iraq's Rida Co. for the Basra seawater desalination project's water transmission system.The project features a 1-million-cubic-meter daily capacity system with 240 kilometers of pipelines, one main pump station and nine receiving stations in Basra Governorate, according to a Thursday filing with the Shanghai bourse.The timeline includes six months of limited commencement followed by a 1,350-day construction period, plus a 24-month defect liability period.Shares of the engineering construction company rose 1% in recent trade.

SHA:601669
Asia

Fitch Affirms Power Construction of China's BBB+ Rating

Fitch Ratings affirmed Power Construction of China's (SHA:601669) long-term foreign-currency issuer default rating and senior unsecured rating at BBB+, with a stable outlook.The rating agency attributed the engineering construction company's rating to strong government support through financing and capital injections, according to a Wednesday research note.Shares of the company slid 1% in recent trade.

SHA:601669
Asia

Transition Gaps Drive Credit Divide Among Chinese E&C Companies, Fitch Says

The increasing pace of transition among Chinese engineering and construction (E&C) companies is a main driver of widening credit differentiation in the sector, Fitch Ratings said in a recent release.Fitch expects contractors that diversified into renewable energy, power, and industrial projects to shield their margins amid subdued demand for traditional projects.Meanwhile, companies reliant on residential housing and conventional infrastructure could observe slower contract momentum, fast EBITDA drops, and increasing leverage, the rating agency said.Leaders such as China State Construction Engineering (SHA:601668) have notably reduced their residential housing exposure to about 15% last year from 35% in 2021, while power-focused peers like Power Construction Corp. of China (SHA:601669) and China Energy Engineering (HKG:3996, SHA:601868) posted strong margins and EBITDA, according to Fitch.High capital expenditure kept free cash flow (FCF) negative for most issuers last year, despite improved working capital management, Fitch said.Leverage continues to be a pressure point for E&C companies' standalone credit profiles, with retained negative FCF weighing on EBITDA gross and net leverage, the rating agency said.

Shanghai Composite^SZSEHKG:3996SHA:601668SHA:601669SHA:601868
Asia

Power Construction of China to Raise Subsidiary's Capital by 245 Million Yuan; Shares Down 3%

Power Construction of China (SHA:601669) plans to raise a subsidiary's capital by 245 million yuan, according to a Wednesday filing on the Shanghai bourse.The capital increase will boost PowerChina Hebei Xiong'an Construction Development's capital.The engineering construction company's shares dropped by less than 3% during the afternoon trade.

SHA:601669
Asia

Power Construction of China's Q1 Profit Slumps 25.5%; Revenue Up 2%

Power Construction of China (SHA:601669) posted a 25.6% slump in first-quarter attributable net profit to 1.95 billion yuan from 2.62 billion yuan in the prior-year period.Earnings per share slid to 0.1112 yuan from 0.1471 yuan, according to a Thursday filing with the Shanghai bourse.Operating revenue at the engineering construction company climbed 1.75% year over year to 145.1 billion yuan from 142.6 billion yuan.

SHA:601669
Asia

Power Construction of China 2025 Profit Down 17%, Revenue Climbs 2%

Power Construction of China (SHA:601669) posted 2025 attributable net profit of 10.0 billion yuan, down 17% from 12.0 billion yuan the previous year.Earnings per share slid to 0.5276 yuan from 0.6347 yuan, according to a Friday filing with the Shanghai bourse.Operating revenue climbed 1.9% year over year to 645.6 billion yuan from 633.7 billion yuan.Shares of the engineering construction company were down 2% in recent trade.

SHA:601669

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