China State Construction International Holdings Limited (CSCI) reported revenue of RMB 43.88 billion for the six months ended 30 June 2026, down 22.5% year on year. Operating profit fell 19.1% to RMB 7.19 billion, while profit attributable to shareholders declined 17.7% to RMB 4.33 billion. Basic earnings per share decreased 19.2% to RMB 0.82.

CSCI’s Board declared an interim dividend of HK 0.33 per share, representing a payout ratio of 35.4%. Cash dividends are scheduled for payment on 9 October 2026 to shareholders on record as of 17 September 2026.

Segment performance diverged. Revenue in Chinese mainland fell 21.3% to RMB 23.10 billion, yet segment profit slipped only 2.5% to RMB 5.89 billion, supported by investment-driven construction projects and modular integrated construction (MiC) contracts. Hong Kong revenue retreated 25.4% to RMB 17.34 billion, with profit down 15.1% to RMB 0.74 billion amid project timing effects. Macau contributed RMB 1.75 billion of revenue (-7.5%) and RMB 0.42 billion of profit (-8.5%). CSC Development Group, the façade and prefabrication arm, recorded revenue of RMB 1.69 billion and profit of RMB 0.15 billion, reflecting a slowdown in façade contracting demand.

Cash generation strengthened: net operating cash inflow hit a record RMB 3.80 billion. Cash on hand reached RMB 37.87 billion, equivalent to 12.9% of total assets, while undrawn bank facilities stood at RMB 148.62 billion. Net gearing improved to 64.5% from 68.4% at end-2025, aided by lower financing costs in mainland China, two RMB3 billion of medium-term notes and commercial papers totaling RMB 5.00 billion, and the USD 500 million redemption of perpetual capital securities.

Total borrowings rose to RMB 91.13 billion, 78.0% denominated in renminbi, with average funding costs continuing to decline. Share of profits from joint ventures fell 63% to RMB 0.30 billion, while associates recorded a RMB 0.02 billion loss due to underperforming residential projects.

CSCI flagged continued focus on high-quality urban-renewal, MiC expansion in tier-one mainland cities, and acceleration of investment-led projects in Hong Kong’s Northern Metropolis. Management reiterated commitment to prudent risk and cash-flow management, supported by a RMB-denominated funding strategy and ongoing cost optimisation.

No share buy-backs occurred during the period. The company issued RMB-denominated super short-term commercial papers and medium-term notes totaling RMB 7.00 billion and completed redemption of USD 500 million perpetual securities.