Shanghai Construction Group reports robust new contracts, increased subsidiary guarantees

Shanghai Construction Group announced total new contract signings of RMB 1,921.22 bn for the first three quarters of 2025. This includes RMB 1,477.99 bn in construction, RMB 104.29 bn in design consultation, RMB 196.36 bn in building materials, RMB 88.01 bn in property development, and RMB 12.70 bn in urban construction investment. Urban construction investment contracts surged by 12,700% year-on-year. The company also secured nine major construction projects valued over RMB 1 bn each, totaling RMB 114.84 bn.

Concurrently, the Group provided RMB 15.58 bn in guarantees for 14 subsidiaries in September 2025, primarily for loans, bank acceptance bills, and performance bonds. The total outstanding external guarantees as of September 30, 2025, reached RMB 645.21 bn, representing 140% of the company's most recent audited net assets. The guarantees are mainly for controlled subsidiaries and their subordinate enterprises, with no overdue amounts.

These guarantees, approved by the board and shareholders in April and June 2025, respectively, are deemed necessary and reasonable for the subsidiaries' daily operations. Investors are advised to note that the total external guarantees exceed 100% of the company's net assets.