YICAI | China's Jangho Wins USD40 Million Curtain Wall Project in Saudi Arabia
(Yicai) April 22 -- Chinese curtain wall contractor Jangho Group has secured a SAR150 million (USD40 million) deal to work on an opera house in Saudi Arabia.
Jangho's subsidiary Jangho Curtain Wall Arab Engineering recently won the bid for a curtain wall project for the Royal Diriyah Opera House in Riyadh, the Beijing-based parent company announced yesterday.
The deal amount is equal to around 1.3 percent of Jangho's operating revenue last year, the firm noted.
In the first quarter, Jangho saw its building decoration business expand 4.6 percent to CNY5.5 billion (USD799 million) from a year earlier, according to its latest data. Of that, the curtain wall and photovoltaic building business grew 14 percent to CNY3.6 billion, while the interior decoration and design business shrank 9.6 percent to CNY1.8 billion.
Founded in 1999, Jangho has two major business segments: building decoration and medical health. It operates in more than 20 countries and regions, ranking among the top in fields such as building curtain walls, interior decoration and design, PV buildings, and ophthalmic medical care.
Jangho's shares [SHA: 601886] were trading down 0.3percent at CNY9.97 (USD1.46) apiece as of lunch break in Shanghai today.