China CAMC Engineering Gets Investment Certificate for Uzbekistan Projects; Shares Down 3%

China CAMC Engineering's value of its new international engineering contract reached $428 million in the second quarter, according to a Friday filing with the Shenzhen bourse.

The value of its domestic engineering contracts was at 1.7 billion yuan, the filing said.

New contracts from its equipment manufacturing business reached 256 million yuan.

Meanwhile, the value of new contracts for its engineering investment and operation business was $475 million, the filing said.

China CAMC Engineering secured a 175.4-million-yuan contract to provide whole-process consulting services for the Handan Million-Layer Hen Agricultural Tech Park in China's Hebei province, according to a Tuesday filing with the Shenzhen bourse.

Subsidiaries Jingxing International, China Zhongyuan and Zhongyuan Changchun will lead project management, design and surveys, accounting for 131.1 million yuan, or 75%, of the contract value.

Shares of the engineering company were down 1% in recent trade.

China CAMC Engineering signed a $337.5-million contract with Qazaq Soda for phase two of a soda ash plant in Zhambyl, Kazakhstan.

The project includes engineering, procurement, construction and commissioning of a facility producing 500,000 tons of soda ash annually, according to a Wednesday filing with the Shenzhen bourse.

Project duration is 1,262 days.

Shares of the engineering company were down more than 1% in recent trade.

Chinese shares slumped Tuesday amid economic uncertainty stemming from US President Donald Trump's tariff plans and withdrawal of US condemnation of Russia's invasion of Ukraine.

The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.8% to 3,346.04. The Shenzhen Component Index fell 1.2% to 10,854.50.

On Monday, Trump said tariffs on Canada and Mexico were "on time" and "moving along very rapidly," the Associated Press reported.

Rajeev De Mello, global macro portfolio manager at Gama Asset Management, said the ongoing announcements of new tariffs are adding unwarranted instability to the markets and the US' withdrawal from global leadership increases risks for multinational corporations and global investors, Bloomberg News reported.

Jessica Jones, head of Asia at PGIM Investments, said market uncertainty is making it "so hard" for Asian investors to predict the final outcome, whether it will lead to increased inflation or a slowdown in growth, according to Bloomberg.

In company news, China CAMC Engineering agreed to construct a hospital in Iraq for 107.2 billion Iraqi dinars. Shares of the company closed less than 5% lower Tuesday.

China CAMC Engineering agreed to construct a hospital in Iraq for 107.2 billion Iraqi dinars, according to a Shenzhen Stock Exchange filing on Tuesday.

The 100-bed hospital, with a construction area of ​​about 30,000 square meters, will be located in Hader District, Muthanna Province, southern Iraq.

The contract is valid for 1,095 days, the Chinese engineering company said.

The company's shares closed less than 5% lower.

China CAMC Engineering agreed to construct a hospital in Iraq for 107.2 billion Iraqi dinars, according to a Shenzhen Stock Exchange filing on Tuesday.

The 100-bed hospital, with a construction area of ​​about 30,000 square meters, will be located in Hader District, Muthanna Province, southern Iraq.

The contract is valid for 1,095 days, the Chinese engineering company said.

The company's shares closed less than 5% lower.