2021 年年度报告 公司代码：688009 公司简称：中国通号 中国铁路通信信号股份有限公司 2021 年年度报告 1 / 288 2021 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司上市时未盈利且尚未实现盈利 □是 √否 三、 重大风险提示 请查阅本报告第四节"管理层讨论与分析"中有关风险的说明。 四、 公司全体董事出席董事会会议。 五、 安永华明会计师事务所(特殊普通合伙)为本公司出具了标准无保留意见的审计报告。 六、 公司负责人周志亮、主管会计工作负责人胡少峰及会计机构负责人（会计主管人员）张世虎 声明：保证年度报告中财务报告的真实、准确、完整。 七、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经公司第四届董事会第2次会议审议，公司拟以2021年12月31日的总股本10,589,819,000股为 基数，向全体股东每10股派发1.7元人民币(含税)的现金红利，合计1,800,269,230元人民币。本 利润分配预案尚需公司2021年度 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-on-year growth of 15%[13] - Operating revenue for the first half of the year reached RMB 17.86 billion, an increase of 22.19% compared to RMB 14.62 billion in the same period last year[22] - Net profit attributable to shareholders was RMB 1.84 billion, reflecting a 3.69% increase from RMB 1.77 billion year-on-year[22] - The net cash flow from operating activities improved to -RMB 425.94 million, a significant reduction from -RMB 972.05 million in the previous year[22] - Total assets increased by 2.34% to RMB 107.79 billion, compared to RMB 105.33 billion at the end of the previous year[22] - The company maintained a basic earnings per share of RMB 0.16, consistent with the same period last year[22] - Operating costs rose by 24.35% to ¥13,740,680,321.90 from ¥11,050,086,661.65 year-on-year[141] - R&D expenses increased by 26.12% to ¥643,409,638.89, up from ¥510,171,461.49 in the previous year[141] User Growth and Market Expansion - User data indicates a rise in active users, with a total of 2 million new users added in the last quarter, marking a 10% increase compared to the previous quarter[13] - The company is expanding its market presence, targeting an increase in international sales by 30% over the next two years[13] - The company aims to enhance its global market presence and brand influence through increased overseas investments[34] - The company is actively adjusting its market resource layout to adapt to the increasing proportion of local government-led railway construction projects[35] Research and Development - The company plans to invest 500 million RMB in research and development for new technologies in the upcoming fiscal year[13] - Research and development expenditure accounted for 4.24% of operating revenue, up from 4.09% in the previous year[22] - The company achieved a total R&D investment of approximately RMB 756.97 million, representing a 26.58% increase compared to the previous year[58] - The company added 394 new authorized patents during the reporting period, bringing the total number of effective authorized patents to 2,955[53] - The company’s R&D efforts led to the completion of 24 national and provincial-level research projects, indicating strong governmental support[53] Technology and Innovation - New product development includes the launch of an advanced Communication Based Train Control System (CBTC), expected to enhance operational efficiency by 25%[11] - The company is focusing on advanced technology research, including big data and artificial intelligence, to enhance its capabilities in rail transit control systems[27] - The company has developed a fully autonomous train control system (TACS) for Shenzhen Metro Line 20, showcasing advancements in technology[53] - The automatic train operation technology has successfully been implemented in various rail sectors, improving punctuality, stopping accuracy, and operational energy efficiency[40] Environmental Responsibility - The company reported a total of 0.62 tons of COD emissions and 0.14 tons of ammonia nitrogen emissions in the first half of 2021, maintaining reasonable levels[190] - The company generated 95.1 tons of hazardous waste during the reporting period, with all hazardous waste handled by qualified professional companies[190] - The company has completed the application for new discharge permits or registration for fixed pollution sources, ensuring compliance with national or local discharge requirements[190] - The company has significantly increased wastewater treatment capacity by upgrading and constructing new treatment facilities, enhancing monitoring of water pollution discharge indicators[192] Strategic Planning and Future Outlook - The company has set a future outlook with a revenue target of 3 billion RMB for the next fiscal year, which would represent a growth of 20%[13] - The management highlighted a focus on risk management strategies to mitigate potential impacts from macroeconomic fluctuations[7] - The company expects significant growth in the railway market in the second half of 2021, with project tenders anticipated to increase compared to the first half[130] - The urban rail transit market is projected to exceed the total volume of 2020, maintaining the tender rhythm seen in the first half[130] Corporate Governance - There are no reported instances of non-operational fund occupation by major shareholders, ensuring financial integrity[7] - The company has no plans for profit distribution or capital increase during this reporting period, focusing instead on reinvestment[6] - 王嘉杰 resigned as an independent non-executive director due to age reasons, and Guo Yonghong was appointed as a non-executive director[178] - The company did not propose any profit distribution or capital reserve transfer plans during the reporting period[184]

Market Position and Performance - In 2020, the company maintained a leading position in the railway sector, winning key projects such as the Lunan High-speed Railway Phase II and the Ganzhou-Shenzhen High-speed Railway Guangdong section[8]. - The market share in urban rail transit control systems significantly increased, with successful bids for major projects including Shenzhen Metro Line 20 and Wuhan Metro Line 16[8]. - The company reported a stable market operation despite the challenges posed by the pandemic, focusing on maintaining production and market stability[8]. - In 2020, the company's operating revenue was CNY 40.12 billion, a decrease of 3.65% compared to 2019[24]. - The net profit attributable to shareholders was CNY 3.82 billion, showing a slight increase of 0.08% from the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 3.58 billion, reflecting a growth of 2.21% year-on-year[24]. - The company signed a total of new contracts amounting to 71.452 billion yuan in 2020, representing a year-on-year growth of 1.20%[112]. - New contracts in the railway sector amounted to 26.256 billion yuan, an increase of 0.72% compared to the previous year[112]. - New contracts in the urban rail transit sector reached 13.059 billion yuan, showing a growth of 13.45% year-on-year[112]. - The company had a total order backlog of 125.284 billion yuan by the end of 2020[112]. Financial Overview - The company achieved a total profit distribution plan of RMB 2,117,963,800, proposing a dividend of RMB 2.0 per 10 shares based on a total share capital of 10,589,819,000 shares as of December 31, 2020[2]. - The profit distribution proposal is subject to approval at the company's annual general meeting for 2020[2]. - The net cash flow from operating activities was CNY 3.01 billion, down by 10.80% compared to 2019[24]. - Basic earnings per share for 2020 was CNY 0.34, a decrease of 10.53% compared to 2019[25]. - The company’s comprehensive gross profit was CNY 8.855 billion, down 7.12% from CNY 9.534 billion in the previous year[138]. - The total operating cost for 2020 was CNY 31.269 billion, a decrease of 2.63% compared to CNY 32.112 billion in the previous year[137]. - The company reported a significant increase of 67.20% in overseas business revenue, reaching CNY 915.25 million[130]. - The cash flow from operating activities decreased by 10.80% to CNY 3.01 billion[126]. - The company is experiencing longer accounts receivable collection periods due to the long construction cycles and large investments in railway and urban rail projects[122]. Research and Development - The company has made significant advancements in technology innovation, establishing the first intelligent control engineering research center for autonomous train operation in the railway industry[9]. - The company has increased R&D investment, accelerating the implementation of key core technology breakthroughs and enhancing collaborative innovation systems[9]. - R&D investment accounted for 4.32% of operating revenue in 2020, an increase of 0.47 percentage points from 2019[25]. - The total R&D investment for the year amounted to RMB 1,734,209,353.71, an increase of 8.21% compared to the previous year[73]. - The company aims to enhance its research and development investment to achieve strategic breakthroughs in product structure adjustment and key core technologies[46]. - The company has focused on key core technologies, completing the development of several industry-leading products, including the high-speed rail CTCS-3 control system and autonomous driving systems[74]. - The company holds 2,571 registered patents in China as of December 2020, protecting its core technologies in the rail transportation control system sector[48]. - The company has a cumulative total of 5,718 patent applications since 2017, with 3,963 granted[71]. - The company has completed the development of a railway freight command management system, with an investment of CNY 607.62 million in the current period[88]. Technological Advancements - All self-developed train control system products have passed the EU interoperability technical specifications certification, facilitating entry into the European market[9]. - The company is focusing on developing next-generation train operation control systems that are faster, more efficient, smarter, and safer, adapting to various transportation standards[47]. - The company has successfully applied its autonomous train operation technology in high-speed rail, intercity rail, and urban rail transit, improving punctuality and energy efficiency[51]. - The company is integrating data platform technology and graphical software to enhance the quality of software integration in rail control systems[57]. - The company’s broadband wireless communication technology based on LTE-M/R improves the efficiency and experience of cluster scheduling command systems[67]. - The company’s comprehensive video monitoring technology is widely applied in high-speed rail and urban rail transit, providing all-weather monitoring solutions[67]. - The company aims to enhance the safety and reliability of railway signal equipment through advanced technology research[88]. Market Expansion and Strategy - The company actively pursued international operations, ensuring the smooth progress of overseas projects such as the Jakarta-Bandung Railway and the Hungary-Serbia Railway[8]. - The domestic market for the company continues to grow while it accelerates its overseas expansion efforts to enhance global brand influence[45]. - The company aims to leverage technological innovation to drive high-quality development and create greater value for society and shareholders[12]. - The company is committed to adapting to new environments and changes, seizing market opportunities to strengthen its global competitive position[46]. - The company aims to expand its market influence in smart cities and intelligent transportation sectors[112]. - The company plans to actively pursue market opportunities in the low-capacity urban rail transit market[115]. - The company is focused on expanding its market presence in both domestic and international railway sectors[106]. Operational Efficiency and Challenges - The company maintains a stable and efficient business model, primarily acquiring orders through public bidding[33]. - The company is experiencing longer accounts receivable collection periods due to the long construction cycles and large investments in railway and urban rail projects[122]. - The ongoing COVID-19 pandemic has negatively impacted project progress and market development, leading to potential delays in new contracts and revenue[121]. - The company is actively pursuing market demand recovery and production resumption, leading to improved monthly operational performance[132]. - Management expenses for the year were RMB 2.06 billion, down 18.60% year-on-year, mainly due to cost-cutting measures in response to the pandemic, including strict control over personnel costs and travel expenses[146]. Corporate Governance and Social Responsibility - The company made charitable donations totaling RMB 1.2 million to local charitable organizations and impoverished county governments during the fiscal year 2020[183]. - No rights granted to directors or supervisors to purchase shares or bonds of the company or its subsidiaries[198]. - No financial, business, or familial relationships among directors, supervisors, and senior management members as of the report date[199]. - The company has purchased valid directors' insurance for its directors as of the report date[200].

2020 年年度报告 公司代码：688009 公司简称：中国通号 中国铁路通信信号股份有限公司 2020 年年度报告 1 / 277 2020 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 请查阅本报告第五节"经营情况讨论与分析"中有关风险的说明。 三、 公司全体董事出席董事会会议。 四、 安永华明会计师事务所(特殊普通合伙)为本公司出具了标准无保留意见的审计报告。 五、 公司负责人周志亮、主管会计工作负责人胡少峰及会计机构负责人（会计主管人员）张世虎 声明：保证年度报告中财务报告的真实、准确、完整。 六、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经公司第三届董事会第 25次会议审议，公司拟以2020 年 12 月 31日的总股本 10,589,819,000 股为基数，向全体股东每 10 股派发 2.00 元人民币(含税)的现金红利，合计 2,117,963,800 元人 民币。 本利润分配预案尚需公司 2020 年度股东大会审议通过。 七、 ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2020, with total revenue reaching RMB 5.2 billion, representing a year-on-year growth of 15%[11]. - The net profit for the same period was RMB 1.1 billion, reflecting a 10% increase compared to the previous year[11]. - The company's operating revenue for the first half of the year was ¥14,620,778,851.32, a decrease of 28.72% compared to ¥20,511,577,842.86 in the same period last year[24]. - Net profit attributable to shareholders was ¥1,774,925,442.85, down 21.74% from ¥2,267,893,086.86 year-on-year[24]. - The net cash flow from operating activities was negative at ¥972,052,222.39, compared to a negative cash flow of ¥130,168,310.24 in the previous year[24]. - Revenue for the first half of 2020 was RMB 14.621 billion, down 28.72% compared to RMB 20.512 billion in the same period last year[139]. - Net profit for the first half of 2020 was RMB 1.960 billion, a decline of 19.59% year-on-year, and a decrease of 7.91% when excluding the impact of divested real estate business from the previous year[131]. - The company’s operating costs decreased by 29.76% year-on-year, primarily due to reduced sales volume caused by the pandemic[139]. User and Market Data - User data showed an increase in active users, with the total number of users growing by 20% to 1.5 million[11]. - The company plans to expand its market presence by entering three new provinces in China by the end of 2020[11]. - The company had a backlog of orders amounting to RMB 120.016 billion as of June 30, 2020[131]. - The company’s overseas contract value increased by 25.2% year-on-year, reaching RMB 5.35 billion[131]. Research and Development - The company has allocated RMB 500 million for research and development in the next fiscal year, focusing on innovative technologies[11]. - Research and development expenses accounted for 4.09% of operating revenue, an increase of 1.24 percentage points compared to 2.85% in the previous year[24]. - The company achieved a total R&D investment of approximately ¥598 million, accounting for 4.09% of its operating revenue[57]. - The company has developed several core systems, including the Chinese high-speed rail control system and urban rail transit control systems, which are crucial for the safety and efficiency of rail operations[30]. - The company aims to leverage cutting-edge technology and increase R&D investment to achieve strategic breakthroughs in product structure and core technologies[39]. - The company has completed 361 new authorized patents, bringing the total number of effective authorized patents to 2,262[56]. - The company has registered 2,262 patents in China to protect its core technologies as of June 2020, ensuring confidentiality through specialized agreements with relevant personnel[43]. Risk Factors and Challenges - Risk factors include potential regulatory changes that could impact operations, as outlined in the risk section of the report[11]. - The company faced risks related to talent retention and technological advancement in the rapidly developing rail transit control systems industry[132]. - The overall economic environment and government investment trends in rail transit projects may impact the company's future business development[135]. Financial Position and Investments - The company maintains a strong cash position with cash reserves of RMB 2 billion, ensuring liquidity for future investments[11]. - Cash and cash equivalents decreased by 7.06% to CNY 22.31 billion from CNY 24.00 billion year-over-year[150]. - Accounts receivable increased by 4.87% to CNY 17.57 billion, attributed to delayed settlements on certain projects[150]. - Short-term borrowings surged by 203.97% to CNY 723.65 million, due to the acquisition of low-interest policy loans[150]. - Long-term borrowings increased by 10.74% to CNY 2.15 billion, facilitated by financing through pledging PPP project income rights[150]. Strategic Direction - The company adheres to a development strategy of "one main business, related diversification," expanding into areas such as engineering contracting and smart cities[30]. - The company is committed to becoming a world-class multinational group characterized by rail transit control technology[39]. - The company is positioned as the largest urban rail transit control system solution provider in China, covering nearly 110 operational and completed control system tendered urban rail lines[39]. Commitments and Compliance - The company has committed to a profit distribution policy that adheres to relevant laws and regulations, ensuring compliance with the profit distribution plan for the years 2019-2021[178]. - The company will strictly fulfill the public commitments made in the prospectus related to this issuance and actively accept social supervision[183]. - The company has confirmed strict adherence to its commitments regarding share lock-up and profit distribution policies[176]. Operational Efficiency - New product development includes the launch of an advanced signaling system, expected to enhance operational efficiency by 30%[11]. - The automatic train driving technology has been successfully implemented in various rail systems, improving punctuality, accuracy of stops, and operational energy efficiency[44]. - The comprehensive automation technology for freight railways enhances efficiency and safety, addressing significant technical challenges in freight operations[46].