Financial Analysis - Shanghai Construction Co., Ltd. undertakes a variety of construction projects.

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19.03.2013

Company Analysis - Overview Ticker:

Shanghai Construction Co Ltd

600170 CH

Sector: Industrials

Industry: Construction & Engineering

-

Date Date Date

80'743 24'324 -7.4% -12.2% 34.9% -6.9%

-

Outlook Outlook Outlook

Business Segments in CNY Public Facilities Construction Civil Building Construction Government Building Construction General Contract Project Sales of Concrete Material Industrial Building Construction Design Services

Sales (M) 22847 22686 8889 8166 4028 3675 2278

Geographic Segments in CNY China Other Countries Other Operating Income Sales Tax & Surcharges Russia Eastern China Maucao

Sales (M) 80009 2583 265 -2113

2% 3%0%

5% 3%0%

-

6% 32% 11%

Valuation Ratios 12/08 21.5x 2.4x 0.8x 0.2x 1.7x 1.4%

12/09 21.8x 0.3x 1.6x 0.8%

12/10 15.5x 3.1x 1.7x 0.2x 1.6x 1.0%

12/11 7.6x 1.0x 0.5x 0.1x 1.0x 1.1%

12/12E 10.5x -

12/13E 9.4x -

12/14E -

12/08 Gross Margin 2.6 EBITDA Margin 1.9 Operating Margin 0.6 Profit Margin 1.0 Return on Assets 1.7 Return on Equity 8.2 Leverage and Coverage Ratios 12/08 Current Ratio 1.1 Quick Ratio 0.8 EBIT/Interest Tot Debt/Capital 0.2 Tot Debt/Equity 0.2 Eff Tax Rate % 20.8

12/09 4.0 3.1 1.5 1.4 2.5 13.9

12/10 4.4 2.5 1.4 1.5 2.3 13.5

12/11 4.7 2.9 1.7 1.7 2.2 13.8

12/12E 14.3

12/13E 14.2

12/14E -

12/09 1.1 0.7 7.1 0.3 0.4 23.7

12/10 1.1 0.6 6.3 0.4 0.6 21.9

12/11 1.1 0.6 3.3 0.5 0.9 20.1

P/E EV/EBIT EV/EBITDA P/S P/B Div Yield Profitability Ratios %

Shanghai Construction Co., Ltd. undertakes a variety of construction projects. The Company constructs residential buildings, industrial buildings, municipal buildings, and public infrastructure facilities, as well as provides engineering and renovation services.

Year:

Telephone 86-21-68872178 Revenue (M) Website www.shconstruction.cn No of Employees Address 33 Fushan Road Pudong, Shanghai, 200120 China Share Price Performance in CNY Price 7.27 1M Return 52 Week High 9.59 6M Return 52 Week Low 5.18 52 Wk Return 52 Wk Beta 1.17 YTD Return Credit Ratings Bloomberg S&P Moody's Fitch

Benchmark: SHANGHAI SE A SHARE INDX (SHASHR)

Shanghai: 600170, Currency: CNY

Currency:

12%

95%

31% Public Facilities Construction Civil Building Construction

China

Government Building Construction General Contract Project

Other Countries

Sales of Concrete Material Industrial Building Construction Design Services

Current Capitalization in CNY Common Shares Outstanding (M) Market Capitalization (M) Cash and ST Investments (M) Total Debt (M) Preferred Equity (M) LT Investments in Affiliate Companies (M) Investments (M) Enterprise Value (M)

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

Other Operating Income Sales Tax & Surcharges

2312.7 16813.5 20145.5 14645.2 0.0 0.0 1129.7 12442.9


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