Gelonghui, May 11 | According to the Guolian Securities Research Report, China Construction (601668.SH)'s net profit for the first quarter was 14.9 billion yuan, yoy +1%. The Q1 engineering business continued to grow, and real estate development continued to be under sufficient pressure to support the company's revenue growth with sufficient on-hand orders. By business, revenue from housing construction/infrastructure/real estate development/survey and design was 3,658/1,277/465/2.6 billion yuan, YOY +6%/-9%/+3%, respectively. The bank believes that in the context of changes in the infrastructure and real estate industry, the company's leading position as a major field may continue to be strengthened, and the quality of reports may also continue to improve. Referring to comparable company valuations, the company was given 6 times PE in 2024, with a target price of 8.52 yuan, maintaining a “buy” rating.
研报掘金丨国联证券：维持中国建筑“买入”评级，目标价8.52元
Research Report Nuggets丨League of Nations Securities: Maintaining the “Buy” Rating of Chinese Construction, Target Price: 8.52 Yuan
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