Report
John Hu
EUR 101.80 For Business Accounts Only

CCCC’s Solid Top-Line Outlook in 2017 Intact Amid Strong Overseas Demand; FVE Raised to HKD 11.50

No-moat-rated China Communications Construction Company, or CCCC, held a conference call to discuss its 2016 order book and 2017 growth outlook. It appears CCCC is on track to meet our full-year 9% net income growth expectation in 2016, and the 2017 order book target of CNY 900 billion (23% year-on-year growth) reaffirms our view that CCCC should be able to deliver 8%-9% annual top-line growth over the next 2-3 years. With primary top-line growth drivers being the more profitable public private ...
Underlying
China Communications Construction Co. Ltd. Class H

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
John Hu

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