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Construction Contracting
Construction Contracting

We provide services for construction projects of power grids, power sources, industrial and civil buildings and other infrastructure in China and abroad.

  • Overview
  • Scope of Our Businesses
  • Construction Equipment
  • Projects
  • Business Processes
  • Qualifications

  The construction contracting business is one of our core businesses. We mainly provide construction services for power grid projects and large-scale power generation projects in China and abroad. In addition, we engage in other infrastructure construction projects. As of May 31, 2016, the aggregate contract value of the power grid and new energy projects in the backlog of our construction contracting business accounted for 71.05% of the total contract value of the backlog in the same segment. In 2015, the aggregate value of new contracts we entered into in respect of the power grid and new energy projects in our construction contracting business accounted for 82.4% of the total value of the new contracts in the same segment.

  We ranked fourth among comprehensive power solution providers in China in 2015 in terms of revenue. According to the F&S Report, in 2015, in Inner Mongolia, we had a 62.6% market share in the power grid construction market (220kv and above) in terms of contract value, a 18.9% market share in the wind power project construction market in terms of installed capacity, a 23.5% market share in the photovoltaic power project construction market in terms of installed capacity and a 14.2% market share in the fossil-fuel project construction market in terms of installed capacity. See “Industry Overview.”

  We provide construction contracting services, especially our EPC business, through our subsidiaries including IM Transition & Transformation Company, IM No. 1 Power Company, and IM No. 3 Power Company, as well as their respective subsidiaries. Our construction contracting business encompasses all construction processes of an engineering project, including project management, procurement, construction, equipment manufacturing and operational maintenance. Our construction contracting business relies on comprehensive capabilities in quality control, cost control, progress control and health, safety and environment management in the course of project execution. We have a team of professionals experienced in construction contracting, including project managers specifically appointed according to different projects, operation managers, project chief engineers, supply officers and specialized safety officers.

  In 2013, 2014 and 2015 and the five months ended May 31, 2015 and 2016, our segment revenue from the construction contracting business was RMB4,077.5 million, RMB2,974.2 million, RMB4,029.3 million, RMB782.0 million and RMB1,635.5 million, representing 79.7%, 77.3, 61.7%,70.1% and 46.8% of our total revenue for the same periods, respectively. The segment gross profit of our construction contracting business was RMB332.9 million, RMB440.3 million, RMB656.6 million, RMB152.3 million and RMB321.6 million, representing 43.9%, 57.5%, 64.3%, 53.9% and 60.3%, of our gross profit for the same periods, respectively.

  We provide construction contracting services to wind power, solar power, power grid, fossil-fuel power and non-power projects. The average gross profit margin for the track record period of each project type above was 14.8%, 14.3%, 23.6%, 2.4% and 8.4%, respectively.

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