Financial Performance - Operating revenue for the period was RMB 72,724,921, representing a year-on-year increase of 15.24%[5] - Net profit attributable to shareholders of the listed company was RMB 1,892,109, up 7.09% compared to the same period last year[5] - The basic earnings per share remained at RMB 0.09, unchanged from the previous year[5] - Total operating revenue for Q1 2020 was 72,724,921, an increase from 63,106,772 in Q1 2019, representing a growth of approximately 15.5%[25] - The net profit for Q1 2020 was 2,378,509, representing an increase of 10.7% from 2,148,738 in Q1 2019[26] - The net profit attributable to shareholders of the parent company was 1,892,109, up from 1,766,899, marking a growth of 7.1% year-over-year[26] - The total comprehensive income for Q1 2020 was 2,606,641, compared to 2,156,795 in Q1 2019, indicating a rise of 20.9%[26] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 479,384,725, an increase of 4.55% compared to the end of the previous year[5] - The total liabilities reached 358.93 billion as of March 31, 2020, up from 341.60 billion at the end of 2019, indicating an increase of about 5.1%[20] - The company's current assets totaled 366.43 billion as of March 31, 2020, compared to 347.44 billion at the end of 2019, reflecting a growth of approximately 5.7%[18] - The company's total equity decreased to 83,526,172 as of March 31, 2020, from 88,332,329 at the end of 2019, representing a decline of about 5.4%[24] Cash Flow - Net cash flow from operating activities was RMB -8,893,561, an improvement from RMB -13,935,490 in the previous year[5] - The net cash flow from operating activities was -180,307 in Q1 2020, a decrease from 408,409 in Q1 2019[34] - Cash inflow from investment activities totaled 4,919,003 in Q1 2020, up from 1,516,404 in Q1 2019[34] - The net cash flow from financing activities was 4,785,150 in Q1 2020, a recovery from -2,133,197 in Q1 2019[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 406,866[9] - The largest shareholder, China Metallurgical Group Corporation, held 55.10% of the shares[9] - The top ten shareholders hold a total of 1,000,000,000 shares, with the largest shareholder, China Securities Finance Corporation, owning 620,195,642 shares[11] Research and Development - Research and development expenses reached RMB 1,081,732 thousand, marking a 67.18% increase compared to the same period last year, indicating a significant boost in R&D investment[13] Government Subsidies - The company received government subsidies amounting to RMB 61,732 during the reporting period[6] Debt and Financing - As of March 31, 2020, the company reported short-term loans of RMB 58,958,019 thousand, an increase of 45.66% compared to the end of the previous year, attributed to increased short-term financing[13] - The cash flow from financing activities included debt repayment of 14,251,157 in Q1 2020, down from 17,613,222 in Q1 2019[35] Compliance and Governance - The company has guaranteed compliance with relevant regulations and management systems, ensuring equal rights and obligations among shareholders[15] - The company will not distribute profits to ordinary shareholders if it anticipates difficulties in repaying bond principal and interest during the bond's duration[15]

( 於中華人民共和國註冊成立的股份有限公司 ) 股份代號：1618 * 僅供識別 重要提示 一. 本公司董事會、監事會及董事、監事、高級管理人員保證年度報告內容的真實、準確、完整，不存在虛假記 載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二. 本公司於2020年3月31日召開第三屆董事會第十四次會議。公司全體董事出席董事會會議。 三. 德勤華永會計師事務所（特殊普通合夥）為本公司出具了無保留意見的審計報告。 四. 公司董事長、法定代表人國文清，副總裁、總會計師鄒宏英及副總會計師、計劃財務部部長范萬柱聲明：保 證年度報告中財務報告的真實、準確、完整。 五. 經董事會審議的報告期利潤分配預案或公積金轉增股本預案 2019年中國中冶經審計的合併報表歸屬於上市公司股東的淨利潤為6,599,712千元，中國中冶本部未分配利 潤為1,920,906千元。公司擬以總股本2,072,362萬股為基數，按每10股派發現金紅利人民幣0.72元（含稅）， 共計現金分紅人民幣1,492,101千元，剩餘未分配利潤人民幣428,805千元用於公司經營發展及以後年度分 配。該方案擬定的現金分紅規模佔2019年度中國中冶合併報 ...

Financial Performance - The net profit attributable to shareholders for 2019 was RMB 6,599,712 thousand, with undistributed profits of RMB 1,920,906 thousand[3]. - The proposed cash dividend is RMB 0.72 per 10 shares, totaling RMB 1,492,101 thousand, which accounts for 22.61% of the net profit[3]. - The company achieved operating revenue of 338.638 billion yuan, a year-on-year increase of 16.96%[8]. - The total profit reached 9.782 billion yuan, growing by 2.71% year-on-year, with net profit attributable to shareholders at 6.600 billion yuan, up 3.58%[8]. - The company's operating revenue for 2019 was CNY 338.64 billion, an increase of CNY 49.10 billion (16.96%) compared to 2018[12]. - Net profit attributable to shareholders was CNY 66.00 billion, up CNY 2.28 billion (3.58%) from CNY 63.72 billion in 2018[14]. - The total assets as of December 31, 2019, amounted to CNY 458.51 billion, reflecting an increase of CNY 19.59 billion (4.46%) from the previous year[14]. - The cash flow from operating activities was CNY 17.58 billion, representing a growth of 25.11% from CNY 14.05 billion in 2018[12]. - The basic earnings per share increased to CNY 0.27, up from CNY 0.26 in 2018[13]. - The company's net assets attributable to shareholders reached CNY 979.50 billion, an increase of CNY 16.69% from CNY 839.43 billion in 2018[12]. Business Operations - The company operates in sectors affected by government policies and market demand, including engineering contracting, real estate development, and equipment manufacturing[5]. - The company signed new contracts worth CNY 787.62 billion, an increase of CNY 121.87 billion (18.31%) compared to CNY 665.74 billion in 2018[14]. - New contracts signed amounted to 42.9336 billion yuan, reflecting a year-on-year growth of 16.51%[8]. - The company achieved a new record in new signed engineering contracts amounting to CNY 750.647 billion, representing a year-on-year growth of 19.40%[26]. - The total revenue from the engineering contracting business was CNY 311.837 billion, accounting for 89.44% of total revenue, with a year-on-year increase of 20.71%[27]. - The company signed 346 major domestic engineering contracts exceeding 500 million RMB, totaling 414.525 billion RMB, an increase of 82 contracts and 77.722 billion RMB year-on-year[31]. - The company’s overseas engineering contracts amounted to CNY 40.624 billion[26]. - The company is actively pursuing market expansion opportunities in emerging industries such as sponge cities and soil remediation[25]. Research and Development - Research and development expenses for 2019 were CNY 9.93 billion, compared to CNY 7.18 billion in 2018, indicating a focus on innovation[15]. - The proportion of invention patents exceeded 50%, with over 2,800 new effective patents added, totaling 29,700 effective patents[8]. - The company aims to enhance its core competitiveness in metallurgy construction and accelerate the formation of systematic strengths[8]. - The company launched 25 major R&D projects under the "2020 Plan," focusing on green and intelligent technology innovations[54]. - The company received 3 National Science and Technology Progress Awards, including 1 first-class award for "The Theory, Technology, and Engineering Application of High-rise Steel-Concrete Hybrid Structures"[54]. Risk Management - The company emphasizes that its business performance is influenced by domestic and international macroeconomic conditions, which may lead to fluctuations in operational results[5]. - The company is subject to risks related to industry policy changes and cyclical fluctuations in the steel and real estate sectors[5]. - The company is committed to risk prevention and management, focusing on investment, overseas operation, legal, and financial risks[8]. - The company is actively managing financial risks by optimizing its financing structure and closely monitoring exchange rate fluctuations[129]. - The company is addressing commodity price risks by adjusting procurement and sales strategies while enhancing cost control measures[130]. Environmental Responsibility - The company is committed to maintaining compliance with the GB18918-2002 standards for wastewater treatment[176]. - The company has implemented measures to ensure that COD and ammonia nitrogen levels are maintained at 40 mg/L and 2 mg/L respectively in specific facilities[176]. - The company has implemented a series of environmental management measures, including energy-saving and emission reduction management guidelines[172]. - The company is focusing on improving its wastewater treatment processes to meet environmental standards more effectively[178]. - The company is committed to reducing international operational risks by establishing good relationships with local governments and conducting thorough risk assessments for overseas projects[131]. Shareholder Relations - The company has maintained a continuous increase in cash dividends for six consecutive years, reflecting its stable development and commitment to shareholder returns[140]. - The cash dividend distribution policy stipulates that at least 15% of the distributable profit will be allocated as cash dividends, barring special circumstances[137]. - The company has a structured process for profit distribution, involving the board of directors and communication with shareholders, especially minority shareholders[138]. - The company confirmed a new lease asset amounting to 79.389 million RMB related to ongoing connected transactions[156]. - The company has established a professional team to enhance network security and mitigate risks associated with its international operations[134]. Corporate Governance - The company has received a standard unqualified audit report from Deloitte Huayong[2]. - The board of directors held a meeting on March 31, 2020, to review the annual report[2]. - The company has not reported any significant accounting errors or changes in accounting policies that would impact its financial statements[146]. - The company has not faced any risks of suspension from listing during the reporting period[148]. - The company has established emergency response plans for environmental incidents across all 27 wastewater treatment enterprises[183].

Financial Performance - Operating revenue for the first nine months increased by 25.87% to CNY 228,084,956,000 compared to the same period last year[6]. - Net profit attributable to shareholders increased by 7.15% to CNY 4,034,802,000 compared to the same period last year[6]. - Basic earnings per share increased by 5.56% to CNY 0.19 compared to the same period last year[6]. - Total operating revenue for Q3 2019 reached CNY 69,067,577, a 25.4% increase from CNY 55,088,834 in Q3 2018[24]. - Net profit for Q3 2019 was CNY 1,150,262, representing a 13.6% increase compared to CNY 1,012,409 in Q3 2018[25]. - The company reported a total profit of CNY 1,606,811 for Q3 2019, which is a 32.0% increase from CNY 1,217,292 in Q3 2018[25]. - The company has not indicated any expected significant changes in net profit compared to the same period last year[14]. Assets and Liabilities - Total assets increased by 4.17% to CNY 457,220,528,000 compared to the end of the previous year[6]. - The total liabilities stood at CNY 352,057,659 thousand, compared to CNY 339,420,571 thousand at the end of 2018, indicating an increase of approximately 3.8%[16]. - Total current liabilities increased to ¥306,873,457 from ¥296,985,847, reflecting a growth of approximately 0.3%[18]. - Total non-current liabilities decreased to ¥36,536,456 from ¥39,260,552, indicating a reduction of about 6.9%[18]. - The company reported a significant increase in contract assets, which rose to CNY 77,222,445 thousand from CNY 66,719,549 thousand, marking an increase of approximately 15.5%[16]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 10,634,670,000, worsening from a net outflow of CNY 7,305,722,000 in the same period last year[6]. - The net cash flow from operating activities was CNY 463,993 thousand, a significant recovery from a loss of CNY 876,157 thousand in the previous year[31]. - Cash received from sales of goods and services in the first three quarters of 2019 was CNY 211,511,953,000, an increase from CNY 180,035,056,000 in the same period of 2018[29]. - Cash outflow for purchasing goods and services in the first three quarters of 2019 was CNY 193,772,253,000, up from CNY 159,034,917,000 in the same period of 2018[29]. - The company reported a financial expense of CNY 189,932,000 in Q3 2019, significantly reduced from CNY 377,147,000 in Q3 2018[27]. Shareholder Information - The total number of shareholders at the end of the reporting period was 420,159[8]. - The largest shareholder, Metallurgical Corporation of China Group, held 55.53% of the shares[8]. - The company's shareholding ratio decreased from 56.18% to 55.53% after subscribing to the central enterprise innovation-driven ETF fund[9]. Research and Development - Research and development expenses rose by 93.37% to RMB 5,958.4 million year-to-date[10]. - Research and development expenses for Q3 2019 amounted to CNY 2,241,632, a significant increase of 37.2% from CNY 1,633,492 in Q3 2018[24]. - Future outlook includes continued investment in R&D to drive innovation and market competitiveness[24]. Government and Financial Support - Government subsidies recognized in the current period amounted to CNY 72,015,000 for the first nine months[7]. - The company reported a total of CNY 4,898,000 in gains from changes in fair value of financial assets for the first nine months[7].

MED 中國冶金科工股份有限公司 METALLURGICAL CORPORATION OF CHINA LTD.* (於中華人民共和國註冊成立的股份有限公司) 股份代號：1618 ２０１９ 中 期 報 告 FECTLER STI * 僅供識別 重要提示 獨立董事 任旭東 因另有公務未能出席 陳嘉強 一. 本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實、準確、完整，不存在虛假 記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二. 本公司於2019年8月30日召開第三屆董事會第六次會議。本次會議應出席董事七名，實際出席董事六名，任 旭東董事因另有其他公務無法出席會議，在審閱議案材料後，以書面形式委託陳嘉強董事代為出席並表決。 未出席董事職務 未出席董事姓名 未出席董事的原因說明 被委託人姓名 三. 本公司2019年半年度財務報表已經德勤華永會計師事務所（特殊普通合夥）審閱，但未經審計。德勤華永會計 師事務所（特殊普通合夥）為本公司出具了無保留意見的審閱報告。 四. 公司董事長、法定代表人國文清，副總裁、總會計師鄒宏英及計劃財務部部長范萬柱聲明：保證半年度報告 中財務報告的真實、準 ...

Financial Performance - The company achieved operating revenue of RMB 159.017 billion, a year-on-year increase of 26.09%[14] - Total profit amounted to RMB 4.882 billion, reflecting a year-on-year growth of 4.69%, with net profit attributable to shareholders reaching RMB 3.157 billion, up 8.59%[14] - The company's operating revenue for the first half of 2019 was CNY 159.02 billion, an increase of 26.09% compared to CNY 126.11 billion in the same period of 2018[27] - The net profit attributable to shareholders for the first half of 2019 was CNY 3.16 billion, up 8.59% from CNY 2.91 billion in the same period of 2018[27] - The net cash flow from operating activities for the first half of 2019 was CNY -5.23 billion, showing an improvement from CNY -8.11 billion in the same period of 2018[27] - The total assets as of June 30, 2019, were CNY 453.98 billion, a 3.43% increase from CNY 438.92 billion at the end of the previous year[27] - The net assets attributable to shareholders at the end of the first half of 2019 were CNY 86.09 billion, reflecting a 2.56% increase from CNY 83.94 billion at the end of the previous year[27] - The basic earnings per share for the first half of 2019 were CNY 0.13, an increase of 8.33% compared to CNY 0.12 in the same period of 2018[28] - The weighted average return on net assets for the first half of 2019 was 3.94%, an increase of 0.19 percentage points from 3.75% in the same period of 2018[29] Contract and Project Performance - New contracts signed totaled RMB 381.5 billion, representing a year-on-year increase of 20.49%[14] - The quality of contracts improved, with contracts over RMB 500 million accounting for 56.37% of total new contracts, amounting to RMB 206.611 billion[14] - The company signed new engineering contracts worth CNY 366.5 billion, a year-on-year increase of 22.3%, setting a historical record[44] - The metallurgical engineering contract value reached CNY 64.8 billion, accounting for 17.7% of new contracts, with a growth of 45.5% compared to the same period in 2018[44] - The non-steel engineering contracts amounted to CNY 301.7 billion, representing 82.3% of new contracts, with an 18.3% increase year-on-year[44] - The company signed 186 new major domestic engineering contracts worth over RMB 5 billion, totaling RMB 206.611 billion, an increase of 50 contracts and RMB 29.766 billion compared to last year[52] Innovation and Development - The company applied for 3,072 new patents and received 1,828 new patent authorizations, with a total of over 26,600 valid patents by the end of the reporting period[14] - The company aims to enhance its competitive advantages through a focus on high-quality development and innovation, targeting a leading position in the metallurgical construction sector[15] - The company has been recognized with 5 national science and technology awards that have passed preliminary evaluations and public announcements[14] - Research and development expenses surged by 156.71% to 3,716,817 thousand RMB, indicating a significant increase in investment in innovation[83] Market Strategy and Competitiveness - The company emphasizes a strategy of differentiation, specialization, and branding to become a world-class provider of urban and industrial development solutions[15] - The company aims to enhance its market competitiveness by optimizing resource allocation and strengthening overseas business management[16] - The company is focusing on expanding its overseas market presence, particularly in South Asia, Southeast Asia, and the Middle East[51] - The company aims to enhance its position as a leading metallurgical construction contractor by leveraging its full industry chain advantages[47] Environmental and Social Responsibility - The company is actively involved in ecological civilization construction, focusing on comprehensive water environment governance and has secured contracts for projects like the black and odorous water body remediation in Zhongshan[54] - The company has established a green development philosophy, focusing on energy conservation and environmental protection[164] - The company actively promotes green construction and clean production as part of its long-term goals[164] - The company has implemented various environmental management measures to comply with national energy conservation and environmental protection requirements[164] - The company donated CNY 125.92 million in cash and materials for poverty alleviation projects during the reporting period[162] Financial Management and Risks - The company faced risks from changes in tax policies, currency fluctuations, and raw material price volatility, which could impact financial performance[84] - The company aims to optimize its financing structure and mitigate financial risks by closely monitoring exchange rate fluctuations and improving capital efficiency[133] - The company is facing macroeconomic risks due to global economic downturns and trade tensions, which may impact investment confidence and market demand[128] - The company is implementing localized management and risk assessment mechanisms to mitigate international operational risks and ensure contract compliance[135] Corporate Governance - Deloitte Huayong has been reappointed as the company's auditor for the 2019 fiscal year, with an audit fee of RMB 18.35 million and an internal control audit fee of RMB 2 million[147] - The financial and audit committee has reviewed the interim results for the six months ending June 30, 2019, and confirmed compliance with applicable accounting standards[183] - The company has established a third board of directors and supervisory board, with elections held on March 12, 2019[181] - The company has complied with the Corporate Governance Code, except for two specific provisions related to the chairman's attendance and director rotation[181] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 424,999[187] - The largest shareholder, China Metallurgical Group Corporation, holds 11,643,400,100 shares, representing 56.18% of the total shares[189] - The second largest shareholder, Hong Kong Central Clearing Limited, holds 2,841,549,101 shares, accounting for 13.71%[189] - The company has not reported any changes in its share capital structure during the reporting period[187]

Financial Performance - Operating revenue for the period was RMB 63,106,772 thousand, representing a year-on-year increase of 14.33%[5] - Net profit attributable to shareholders of the listed company was RMB 1,766,899 thousand, up 6.38% from the previous year[5] - Basic earnings per share increased by 12.50% to RMB 0.09 compared to RMB 0.08 in the previous year[5] - The weighted average return on net assets rose by 0.03 percentage points to 2.57%[5] - Total operating revenue for Q1 2019 was $63,106,772, an increase from $55,197,434 in Q1 2018, representing a growth of approximately 14.5%[25] - Net profit for Q1 2019 reached $2,148,738, up from $1,959,480 in Q1 2018, indicating a growth of approximately 9.6%[26] - The net profit attributable to shareholders of the parent company was $1,766,899, compared to $1,660,907 in the same period last year, showing an increase of about 6.4%[26] - The company achieved a total comprehensive income of $2,156,795 in Q1 2019, compared to $1,978,856 in Q1 2018, reflecting an increase of about 9.0%[26] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 450,462,286 thousand, an increase of 2.63% compared to the end of the previous year[5] - The company's current assets totaled CNY 350,419,111,000 as of March 31, 2019, compared to CNY 339,420,571,000 at the end of 2018, indicating an increase of about 3.0%[17] - The total liabilities as of March 31, 2019, were CNY 301,359,709,000, up from CNY 297,064,935,000 at the end of 2018, reflecting a rise of approximately 1.0%[19] - Total current liabilities increased to 47,474,827 from 46,579,374 year-over-year[22] - Total non-current liabilities rose to 8,057,592 from 7,985,380 year-over-year[22] - Total liabilities amounted to 336,246,399, showing a minor increase of 169,124[38] - Total equity reached 104,662,409, up from 102,669,444 compared to the previous year[20] Cash Flow - The net cash flow from operating activities was negative at RMB -13,935,490 thousand, compared to RMB -12,871,484 thousand in the same period last year[5] - Cash inflow from operating activities for Q1 2019 was 1,083,430, compared to 405,805 in Q1 2018, representing a significant increase of 167.5%[34] - Net cash flow from operating activities was 408,409 in Q1 2019, a turnaround from a negative cash flow of -597,527 in Q1 2018[34] - Cash inflow from investment activities totaled 1,516,404 in Q1 2019, down from 3,213,702 in Q1 2018, indicating a decrease of 52.8%[34] - Net cash flow from investment activities was 612,474 in Q1 2019, compared to a negative cash flow of -5,039,898 in Q1 2018, showing a significant improvement[34] - Cash inflow from financing activities was 22,993,872 in Q1 2019, compared to 25,247,377 in Q1 2018, reflecting a decrease of 8.9%[34] - Net cash flow from financing activities was -2,133,197 in Q1 2019, a decline from a positive cash flow of 2,156,337 in Q1 2018[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 431,643[7] - The top shareholder, China Metallurgical Group Corporation, holds 11,643,400,100 shares, accounting for 56.18% of the total shares[11] - Hong Kong Central Clearing (Agent) Limited holds 2,841,466,901 shares, representing 13.71% of the total shares[11] - The company has no preferred shareholders with voting rights as of the report date[12] - The total number of shareholders holding preferred shares is not applicable as per the report[12] Government and Regulatory Compliance - Government subsidies recognized in the current period amounted to RMB 69,922 thousand, closely related to the company's normal business operations[6] - The company has committed to avoiding any business that may compete with its main operations[14] - The report indicates that there are no significant changes in major accounting items or financial indicators during the reporting period[13] - The company has not disclosed any related party transactions or concerted actions among the top shareholders[11] - The company has not reported any violations related to land hoarding or price manipulation in its real estate business[14] - The company has committed to using the proceeds from its bonds strictly for production and operational activities, ensuring compliance with national laws and regulations[16] Research and Development - Research and development expenses for Q1 2019 amounted to $647,052, up from $500,153 in Q1 2018, reflecting a growth of approximately 29.4%[25]

Financial Performance - The net profit attributable to shareholders for 2018 was RMB 6,371,580 thousand, with undistributed profits of RMB 2,071,070 thousand[3]. - The proposed cash dividend is RMB 0.70 per 10 shares, totaling RMB 1,450,653 thousand, which accounts for 22.77% of the net profit attributable to shareholders[3]. - Operating revenue amounted to CNY 289.535 billion, reflecting an 18.66% year-on-year growth[14]. - Total profit reached CNY 9.524 billion, with a year-on-year increase of 6.13%[14]. - Net profit attributable to shareholders was CNY 6.372 billion, up 5.12% year-on-year[14]. - The company's operating revenue for 2018 was RMB 289.53 billion, an increase of RMB 45.54 billion (18.66%) compared to RMB 244.00 billion in 2017[23]. - The net profit attributable to shareholders for 2018 was RMB 6.37 billion, up RMB 0.31 billion (5.12%) from RMB 6.06 billion in 2017[26]. - The total comprehensive income for the current period was RMB 7,506,319 thousand, compared to RMB 6,538,093 thousand, indicating an increase of 14.8%[30]. - The company achieved operating revenue of 289,534,523 thousand RMB, representing a year-on-year growth of 18.66%[94]. - The total profit for the period was 9,524,444 thousand RMB, an increase of 6.13% compared to the previous year[94]. Business Segments - All four main business segments achieved profitability for the first time, with profits of CNY 5.038 billion from engineering contracting, CNY 4.151 billion from real estate development, CNY 0.096 billion from resource development, and CNY 0.337 billion from equipment manufacturing[14]. - The engineering contracting business generated revenue of RMB 258.33 billion, an increase of RMB 49.72 billion (23.83%) from RMB 208.61 billion in 2017[28]. - The real estate development business reported revenue of RMB 22.87 billion, a decrease of RMB 2.04 billion (8.20%) from RMB 24.91 billion in 2017[28]. - The equipment manufacturing segment reported a revenue of RMB 6,988,417 thousand in 2018, representing a year-on-year increase of 11.73% from RMB 6,254,959 thousand in 2017, with a gross margin of 12.02%[63]. - The resource development segment generated revenue of RMB 5,282,909 thousand in 2018, a decrease of 6.74% compared to RMB 5,664,790 thousand in 2017, while the gross margin improved to 33.17%, up by 4.58 percentage points[69]. Investments and Contracts - The total new contracts signed reached CNY 665.744 billion, a year-on-year increase of 10.06%[14]. - New contracts valued at over CNY 500 million totaled CNY 368.485 billion, a 15.81% increase year-on-year[14]. - The company signed new engineering contracts worth RMB 628.689 billion, a year-on-year increase of 13.11%, setting a new historical high[38]. - The company signed 65 new PPP projects with a total investment of RMB 106.293 billion, and won 47 new bids for PPP projects with a total investment of RMB 106.685 billion[46]. - The company has secured overseas projects including a 45.2 billion CNY contract for the Egypt-Manqai Textile Industrial Park and a 21.5 billion CNY contract for housing projects in Saudi Arabia[50]. Research and Development - Research and development expenses increased to RMB 7,182,666 thousand, compared to RMB 5,336,045 thousand in the previous period, marking a rise of 34.5%[29]. - The company holds over 25,340 effective patents, including 6,811 invention patents, and has been recognized as a national intellectual property demonstration enterprise[80]. - The company achieved a significant milestone by leading the acquisition of the National Science and Technology Progress Award (First Class) for the first time in its history, marking a historic breakthrough[76]. - The company actively promoted international standardization, establishing six professional technical standard research institutes and publishing ten national standards, enhancing its influence in national and international markets[81]. Risk Management and Compliance - The company emphasizes the importance of monitoring investment risks related to future plans and macroeconomic trends[3]. - There are no violations of decision-making procedures regarding external guarantees[3]. - The company has maintained compliance with relevant laws and regulations, with no significant legal liabilities reported during the period[91]. - The company has not faced any non-standard audit opinions from its accounting firm during the reporting period[180]. - The company has not encountered any unfulfilled commitments that would affect goodwill impairment testing during the reporting period[180]. Future Outlook and Strategy - The company aims to enhance its core competitiveness through upgrades in management, technology, and service, targeting a transformation into a world-class urban operator and engineering project lifecycle service provider[15]. - The company plans to focus on emerging industries such as energy conservation, environmental protection, and smart cities to increase its market share and brand effect[15]. - The company anticipates further opportunities for international cooperation in infrastructure construction and metallurgical engineering under the Belt and Road Initiative[37]. - The company is actively expanding into new markets and sectors, including PPP projects and urban infrastructure development, contributing to its sustainable growth[173]. - The company is committed to continuous R&D investment to improve innovation capabilities in key areas of metallurgical engineering[153]. Shareholder Returns - The cash dividend distribution policy aims for a minimum of 15% of the distributable profit to be allocated as cash dividends, barring special circumstances[169]. - The company has achieved continuous growth in cash dividends for five consecutive years, reflecting its stable development and commitment to shareholder returns[173]. - The independent directors support the dividend proposal, emphasizing its alignment with legal regulations and the long-term interests of shareholders[175]. - The company’s profit distribution policy prioritizes cash dividends while considering industry characteristics and major capital expenditure needs[168]. Related Party Transactions - The company has ongoing related transactions under the "Comprehensive Raw Materials, Products, and Services Supply Agreement" with China Minmetals Group, which is subject to regulatory oversight[188]. - The company’s independent non-executive directors confirmed that related party transactions were conducted under normal commercial terms and were fair and reasonable[193]. - The company reported a total of 11,775,496 in transactions during the reporting period, with no significant discrepancies noted by the auditors regarding pricing policies[194].

Financial Performance - The net profit attributable to shareholders for 2018 was RMB 6,371,580 thousand, with undistributed profits of RMB 2,071,070 thousand[3]. - The proposed cash dividend is RMB 0.70 per 10 shares, totaling RMB 1,450,653 thousand, which accounts for 22.77% of the net profit[3]. - Operating revenue was CNY 289.535 billion, reflecting a year-on-year growth of 18.66%[11]. - Total profit amounted to CNY 9.524 billion, with a year-on-year increase of 6.13%[11]. - Net profit attributable to shareholders was CNY 6.372 billion, up 5.12% year-on-year[11]. - The company's operating revenue for 2018 was CNY 289.53 billion, an increase of CNY 45.54 billion (18.66%) compared to 2017[18]. - The total assets as of December 31, 2018, reached CNY 438.92 billion, reflecting a growth of CNY 24.35 billion (5.87%) year-over-year[22]. - The total liabilities increased to CNY 336,246,399 in 2018 from CNY 317,244,693 in 2017, reflecting a growth of 6.0%[26]. - The company's cash flow from operating activities was CNY 14.05 billion, a decrease of 23.72% compared to the previous year[18]. - The total comprehensive income for 2018 was CNY 7,506,319, compared to CNY 6,538,093 in the previous year, indicating a growth of 14.8%[26]. Business Segments and Operations - All four main business segments achieved profitability, with profits of CNY 5.038 billion from engineering contracting, CNY 4.151 billion from real estate development, CNY 0.096 billion from equipment manufacturing, and CNY 0.337 billion from resource development[11]. - The engineering contracting business generated revenue of CNY 258.33 billion, a rise of CNY 49.72 billion (23.83%) from 2017[23]. - The company aims to enhance its core business in metallurgical construction and accelerate internationalization efforts[11]. - The company is focusing on upgrading its capabilities through model, management, technology, and service enhancements in the basic construction sector[40]. - The company is actively pursuing risk control measures in its PPP business, enhancing project quality and scale while managing quantity[40]. Research and Development - The company obtained 4,187 new patents, bringing the total number of valid patents to over 25,000[11]. - Research and development expenses increased to CNY 7.18 billion, up by CNY 1.85 billion (34.69%) compared to the previous year[24]. - The company achieved a significant milestone by winning the National Science and Technology Progress Award for the first time, marking a historic breakthrough[62]. - The company has established 24 national-level technology innovation platforms, further enhancing its technological innovation capabilities[62]. - The company is focusing on new emerging industries, including smart cities and environmental technologies, to enhance economic development quality[130]. Market and Strategic Initiatives - The company aims to leverage the "Belt and Road" initiative to expand its overseas market opportunities in metallurgical engineering projects[34]. - The company is committed to high-quality development, emphasizing technological innovation and quality management to create exemplary projects[131]. - The company is integrating resources to enhance its market influence in infrastructure construction, particularly in steel structure projects[130]. - The company is actively establishing technology research institutes to lead in key technology research and standard development in emerging industries[131]. - The company is committed to environmental protection and sustainable practices, implementing measures to comply with increasing regulatory demands[141]. Corporate Governance and Compliance - Deloitte Huayong issued a standard unqualified audit report for the company[2]. - The independent directors have confirmed that the profit distribution plan aligns with legal regulations and the company's articles of association, ensuring reasonable returns for investors[149]. - The company has maintained compliance with legal regulations, with no significant legal liabilities reported during the reporting period[74]. - The company has not reported any non-compliance with court judgments or significant debt defaults during the reporting period, maintaining a good credit standing[157]. - The company has established a comprehensive confidentiality system to prevent data fraud and theft, ensuring the protection of sensitive information[142]. Environmental and Social Responsibility - The company is committed to maintaining environmental protection standards across its subsidiaries[184]. - The company achieved all pollution reduction targets during the reporting period, with no exceedances in emissions[184]. - The company plans to expand its wastewater treatment capacity to meet increasing demand in the region[188]. - A total of 210.95 million RMB was directly invested in poverty alleviation efforts, with 34 projects implemented, benefiting 941 registered poor individuals[180]. - The company conducted vocational training for 248 individuals and helped 12 registered poor households achieve employment[181].

Financial Performance - Operating revenue for the first nine months reached CNY 181,201,407 thousand, a growth of 20.16% year-on-year[11] - Net profit attributable to shareholders increased by 6.10% to CNY 3,765,524 thousand for the first nine months[11] - Basic earnings per share increased by 12.50% to CNY 0.18 per share[11] - Net profit for the first nine months of 2018 was CNY 4.51 billion, compared to CNY 4.05 billion in the same period last year, reflecting a growth of approximately 11.4%[35] - Operating revenue for Q3 2018 reached CNY 55.09 billion, up from CNY 49.72 billion in Q3 2017, marking an increase of about 10.5%[34] - The basic earnings per share for Q3 2018 was CNY 0.06, compared to CNY 0.05 in Q3 2017, representing a growth of 20%[36] Assets and Liabilities - Total assets increased by 8.54% to CNY 449,977,491 thousand compared to the end of the previous year[11] - The company's total liabilities reached CNY 347,912,512 thousand, compared to CNY 317,244,693 thousand at the start of the year, marking an increase of around 9.7%[26] - The company's current assets totaled CNY 354,115,320 thousand, up from CNY 322,328,945 thousand at the beginning of the year, indicating an increase of about 9.9%[24] - Long-term borrowings rose to CNY 26,686,394 thousand from CNY 23,470,743 thousand, which is an increase of approximately 9.4%[26] - The total equity attributable to shareholders increased to CNY 83,499,493 thousand from CNY 82,499,829 thousand, showing a growth of about 1.2%[26] - The company's total liabilities rose to CNY 54.82 billion, up from CNY 45.02 billion, indicating an increase of around 21.5%[29] Cash Flow - The net cash flow from operating activities improved to -CNY 7,305,722 thousand, compared to -CNY 14,077,850 thousand in the same period last year[11] - Cash flow from operating activities showed a net outflow of -¥7,305,722,000, an improvement from -¥14,077,850,000 in the previous year[44] - Total cash inflow from operating activities was 2,174,948 thousand RMB, slightly up from 2,136,850 thousand RMB year-on-year[47] - Cash outflow from operating activities increased significantly to 3,051,105 thousand RMB, compared to 1,733,191 thousand RMB in the previous year[47] - Cash inflow from investment activities totaled 11,332,676 thousand RMB, up from 8,382,677 thousand RMB year-on-year[47] Investments and Growth - The company plans to continue expanding its market presence and invest in new technologies and products[11] - The company reported government subsidies of CNY 360,606 thousand for the first nine months, contributing positively to the financial results[13] - Long-term equity investments rose by 36.3% to 12,156,757 thousand RMB, reflecting an increase in external equity investments[18] - Research and development expenses for the first nine months of 2018 amounted to CNY 3.08 billion, compared to CNY 2.35 billion in the previous year, showing a significant increase of approximately 30.9%[34] Shareholder Information - The total number of shareholders is 416,110[15] - The top shareholder, China Metallurgical Group Corporation, holds 59.18% of shares, totaling 12,265,108,500 shares[15] - The company has no known related party relationships among the top shareholders[16] - The company has committed to avoiding competition with its controlling shareholder, China Metallurgical Group, in its main business areas[20] Other Financial Metrics - The weighted average return on equity rose by 0.54 percentage points to 5.80%[11] - The company completed a private placement of 1,613,619,170 A shares at a price of 3.86 RMB per share, raising a net amount of 6.173 billion RMB[16] - The company's inventory decreased significantly from CNY 118,292,878 thousand to CNY 62,067,213 thousand, a reduction of approximately 47.5%[24] - The accounts receivable stood at CNY 93,910,459 thousand, slightly down from CNY 94,253,008 thousand, indicating a decrease of about 0.4%[24]