报告名称：CCCC(01800.HK)Orders & cash inflow accelerating Valuation attractive
报告类型：港股研究
报告日期：2016-04-07
研究机构：招商证券（香港）
股票名称：中国交通建设,中国交建
股票代码：01800,601800
页数：7
简介：4Q15 new contracts grew 21% YoY (1Q-3Q15: 1% YoY). We estimate the momentum to extend to 3Q16E
2015 net operating cashflow reached RMB31.9 bn, up 624% YoY on better financial conditions of local governments, supporting our view on rising new contracts in 2016
Upgrade to BUY with TP of HK$11.21 (from HK$10.98)

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