On 14 Jul 2016, Sapphire announced that it has clinched RMB873m worth of infrastructure contracts through its engineering, procurement and construction subsidiary, Ranken Infrastructure Limited. There are some noteworthy points in this announcement.
a) RMB 300m Jian Cao Ping flyover & RMB 313m to construct part of the Urumqi Rail Transit are won, due in part to their existing contracts. This is a sound testament to Ranken’s capability and track record;
b) With these significant contract wins, Sapphire’s order book increased from RMB2.0b (according to 1QFY16 press release) to RMB2.75b (as of ...
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