China Knowledge reported that China State Construction Engineering Corp Ltd, China largest property and construction conglomerate recently won the bids for seven construction projects worth CNY 22.84 billion in total.

The company said in a statement filed with the Shanghai Stock Exchange that the contract value was equivalent to 6.2% of the company audited operating revenue in 2010.

Last year, the Shanghai-listed firm signed almost CNY 851.4 billion worth of construction contracts up by 14.6%YoY.

The company said earlier that it expected its net profit to jump about 40%YoY in 2011. In 2010, the company booked a net profit of CNY 9.24 billion.

(Sourced from China Knowledge)