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].

Financial Performance - The company's operating revenue for 2020 was CNY 40,124,476,710.76, a decrease of 3.65% compared to CNY 41,646,286,792.57 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 3,819,046,319.02, showing a slight increase of 0.08% from CNY 3,815,874,901.39 in 2019[18]. - The net cash flow from operating activities decreased by 10.80% to CNY 3,007,375,953.08 in 2020 from CNY 3,371,360,784.87 in 2019[18]. - The total assets at the end of 2020 were CNY 105,328,082,320.59, an increase of 8.01% from CNY 97,512,591,304.36 at the end of 2019[18]. - The company's net assets attributable to shareholders increased by 3.51% to CNY 42,563,468,050.40 at the end of 2020 from CNY 41,119,607,362.50 at the end of 2019[18]. - The basic earnings per share for 2020 was CNY 0.34, a decrease of 10.53% compared to CNY 0.38 in 2019[19]. - The total non-recurring gains and losses for 2020 amounted to CNY 240,251,408.24, compared to CNY 314,592,597.06 in 2019[22]. - The company reported a net profit of CNY 1,166,901,109.06 in Q4 2020, contributing to a total annual net profit of CNY 3,819,046,319.02[21]. - The company achieved a total new contract amount of 71.45 billion yuan in 2020, representing a year-on-year growth of 1.20%[60]. - The company reported an operating income of 40.12 billion yuan in 2020, a decrease of 3.65% compared to the previous year[66]. Research and Development - The company is committed to increasing R&D investment and accelerating the implementation of key core technology breakthroughs[9]. - Research and development expenses accounted for 4.32% of operating revenue in 2020, an increase of 0.47 percentage points from 3.85% in 2019[19]. - The company achieved a total R&D investment of approximately ¥1.73 billion, an increase of 8.21% compared to the previous year[44]. - The proportion of R&D investment to operating revenue rose to 4.32%, an increase of 0.47 percentage points year-on-year[44]. - The company has developed a comprehensive rail transit control system that meets high safety, reliability, and sustainability standards, essential for the complex rail network in China[33]. - The company has undertaken 20 national and provincial-level research projects, demonstrating its commitment to innovation and industry leadership[42]. - The company is developing next-generation train operation control systems that are faster, more efficient, and smarter, focusing on automation and intelligent operation maintenance[36]. - The company has made significant advancements in the development of the autonomous driving system, achieving industry-first testing validation[42]. - The company’s R&D efforts focus on key technologies such as the CTCS-3 train control system and urban rail transit systems, ensuring comprehensive application across core railway systems[41]. Market Position and Strategy - The company achieved significant market leadership in the railway sector, winning key projects such as the Lu-Nan High-speed Railway Phase II and the Gan-Shen High-speed Railway Guangdong section[9]. - The urban rail transit control system market share increased significantly, with successful bids for major projects including Shenzhen Metro Line 20 and Wuhan Metro Line 16[9]. - The company is actively promoting mixed ownership and diversified equity reforms to enhance operational efficiency and release new corporate momentum[10]. - The company aims to leverage technological innovation to drive high-quality development and create greater value for society and shareholders in 2021[11]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and competitiveness[18]. - The company is focused on maintaining a competitive edge through innovation and strategic partnerships in the industry[182]. - The company aims to strengthen its global market leadership by focusing on quality and safety, and accelerating technological innovation[92]. - The company plans to enhance its market presence in the smart city and intelligent transportation sectors, aiming for diversified business growth[60]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its technological capabilities[186]. Corporate Governance and Commitments - The company has confirmed that its profit distribution policy aligns with its articles of association, ensuring clear standards and procedures for shareholder returns[95]. - The company reported a total remuneration of RMB 7.4 million for the audit and internal control audit services provided by Ernst & Young Hua Ming LLP for the year 2020[115]. - The company has committed to not using funds raised through the Hong Kong Stock Exchange to finance activities related to sanctioned entities or countries[111]. - The commitment to avoid competition with the parent company was confirmed on July 20, 2015, and remains effective until the parent company ceases to be the controlling shareholder[112]. - The company has outlined measures to address any failure to fulfill commitments, including public disclosure of reasons and offering alternative commitments to protect shareholder interests[108]. - The company will publicly explain any inability to fulfill commitments due to uncontrollable factors such as legal changes or natural disasters[107]. - The company has established a long-term commitment effective from April 15, 2019, with no specified expiration date[107]. Environmental and Social Responsibility - The company has implemented effective pollution control measures, including the installation of various purification systems to ensure compliance with emission standards[144]. - The company has established a monitoring system for pollutant emissions, achieving 24-hour monitoring and early warning capabilities[147]. - The company is actively involved in poverty alleviation efforts, contributing to the establishment of seven poverty alleviation industry projects and helping sell agricultural products worth RMB 1.36 million[139]. - The company has supported 82 university students and 100 orphan students through educational assistance programs, alongside training 323 grassroots poverty alleviation cadres[139]. - The company maintained a reasonable level of hazardous waste treatment, with a total of 154.6 tons processed in 2020[143]. Employee and Talent Management - The total number of employees in the parent company is 136, while the main subsidiaries employ 20,500, leading to a total of 20,636 employees[194]. - The company has established a salary system linked to economic performance and labor productivity, focusing on attracting and retaining core talent[196]. - The number of employees with a postgraduate education increased from 2,528 to 3,042, indicating a focus on higher education within the workforce[195]. - The company implemented a training plan that combined online and offline methods to enhance talent development and management capabilities[198]. - The training initiatives included global business navigation training and management training in collaboration with leading companies like Alibaba and Huawei[198]. Shareholder Information - The company plans to distribute a cash dividend of CNY 2.0 per 10 shares, totaling CNY 2,117,963,800, which represents 55.46% of the net profit attributable to shareholders for 2020[96]. - The company maintained a consistent cash dividend of 2.0 RMB per 10 shares over the past three years, with total cash dividends of 2,117,963,800.00 RMB in both 2019 and 2020[97]. - The net profit attributable to ordinary shareholders increased slightly from 3,815,874,901.39 RMB in 2019 to 3,819,046,319.02 RMB in 2020, reflecting a stable performance[97]. - The company has a total of 6,604,426,424 restricted shares remaining at the end of the year due to initial public offering restrictions[156]. - The largest shareholder, China Railway Signal & Communication Group Co., Ltd., holds 6,604,426,424 shares, representing 62.37% of the total shares[162].

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].

Financial Performance - In 2019, the company achieved a new contract signing amount of RMB 70.61 billion, representing a year-on-year growth of 3.4%[14] - The company's operating revenue for 2019 was RMB 41.646 billion, an increase of 4.08% compared to the previous year[14] - Net profit for 2019 reached RMB 4.177 billion, reflecting a year-on-year growth of 12.38%[14] - The company's operating revenue for 2019 was approximately CNY 41.65 billion, an increase of 4.08% compared to CNY 40.01 billion in 2018[28] - Net profit attributable to shareholders for 2019 was approximately CNY 3.82 billion, up 11.95% from CNY 3.41 billion in 2018[28] - The net profit after deducting non-recurring gains and losses was approximately CNY 3.50 billion, reflecting a 6.25% increase from CNY 3.30 billion in 2018[28] - The company's total assets at the end of 2019 were approximately CNY 97.51 billion, a 22.38% increase from CNY 79.68 billion at the end of 2018[28] - The net assets attributable to shareholders at the end of 2019 were approximately CNY 41.12 billion, an increase of 42.24% from CNY 28.91 billion at the end of 2018[28] - Basic earnings per share for 2019 remained at CNY 0.38, unchanged from 2018[29] - The net cash flow from operating activities for 2019 was approximately CNY 3.37 billion, a significant recovery from a negative cash flow of CNY -1.59 billion in 2018[28] - The company's operating revenue for Q2 2019 was approximately CNY 12.63 billion, with a net profit attributable to shareholders of CNY 1.59 billion[33] - In Q4 2019, the operating revenue reached CNY 13.53 billion, while the net profit attributable to shareholders was CNY 1.00 billion[33] - The net cash flow from operating activities in Q4 2019 was CNY 3.03 billion, showing a significant recovery compared to previous quarters[33] - The total amount of non-recurring gains and losses in 2019 was CNY 314.59 million, with government subsidies contributing CNY 67.68 million[34] - The company reported a significant increase in financing cash flow, which rose by 408.62% year-on-year to CNY 8,247,476,594.75[171] - The company's operating costs for 2019 were 32.11 billion RMB, an increase of 3.82% compared to the previous year, which is lower than the revenue growth rate by 0.26 percentage points[189] - The comprehensive gross profit for the company was 9.53 billion RMB, up 4.99% from 9.08 billion RMB in the same period last year[189] Market Position and Growth - The company maintained its market leadership in the railway sector, winning key projects such as the Anjiu, Lun南, and GanShen projects[14] - The company was recognized with several awards, including the "Outstanding Promotion Unit for Comprehensive Quality Management" and the "Meritorious Enterprise" for the 70th anniversary of the founding of the country[16] - The company aims to enhance its global market influence while maintaining continuous growth in the domestic market[51] - The company is a global leader in rail transit control systems, with over 60% coverage of domestic high-speed rail control system integration projects as of the end of 2019[51] - The company has a unique competitive advantage due to its mature business model that provides integrated services for rail transit control systems[50] - The company is actively expanding its overseas market presence in response to national initiatives like the Belt and Road Initiative[147] - New contracts in the overseas market surged by 153.3% year-on-year, totaling RMB 2.41 billion[156] - The company achieved a total backlog of orders amounting to RMB 104.94 billion by the end of 2019[156] - The new contract value in the railway sector reached RMB 26.07 billion, growing by 3.9% compared to the previous year[156] Research and Development - The company made significant progress in the research and development of key technologies, including the CTCS-3+ATO and CTCS-3 autonomous RBC systems[14] - The R&D expenditure accounted for 3.85% of operating revenue, an increase of 0.40 percentage points from 3.45% in 2018[29] - The company achieved a total R&D investment of approximately CNY 1.60 billion, representing 3.85% of its operating revenue[95] - The company has a workforce of 4,235 R&D personnel, accounting for 20.99% of the total staff[95] - The company is actively developing core technologies for railway control systems, including CTCS-3 and CTCS-2+ATO systems[76] - The company has authorized a total of 1,901 patents, with 470 new patents granted during the reporting period[75] - As of the end of 2019, the company holds 1,901 registered patents in China to protect its core technologies[55] - The company has completed signal product research, enhancing safety and reliability for railway signal equipment in complex environments[142] - The company has completed 1,302 projects in the foreign application research, demonstrating industry-leading technology levels[123] Operational Efficiency and Technology - The company focuses on advanced rail transit control systems and aims to lead in smart technology development in the industry[36] - The company has established a stable and efficient business model, primarily acquiring orders through public bidding[39] - The company emphasizes centralized procurement to enhance efficiency and ensure compliance with national regulations[42] - The lifecycle of high-speed rail control systems is generally around 10 years, indicating a need for upgrades and replacements in the coming years[48] - The intelligent detection and maintenance technology for rail transit has been successfully implemented in high-speed rail, conventional rail, and urban rail transit, promoting digitalization and intelligence in maintenance operations[62] - The safety computer platform technology has achieved the highest level of functional safety certification as per international standards, ensuring high safety and reliability for train operation control systems[65] - The company has developed a comprehensive quality assurance system for rail transit safety product manufacturing, addressing risks throughout the entire production process[70] - The automatic train control system integration technology has been widely applied in high-speed rail and urban rail transit, enhancing operational safety and efficiency[62] - The company has made significant advancements in the field of railway switch conversion technology, creating an internationally leading system for high-speed switch conversion[67] - The company is committed to increasing R&D investment to achieve strategic breakthroughs in product structure and core technologies[51] Challenges and Risks - The company faced risks related to talent competition in the rapidly developing railway control system industry[158] - The company plans to continue deepening reforms and innovations in 2020 to enhance its competitiveness and sustainability[16] - The company is committed to optimizing its business structure and expanding its market presence in the railway transportation sector[156]

Financial Performance - In 2019, China Railway Signal & Communication Corporation achieved a new high in operating performance with a total new contract amount of RMB 70.61 billion, representing a year-on-year growth of 3.4%[9] - The company reported an operating revenue of RMB 41.646 billion, an increase of 4.08% compared to the previous year, and a net profit of RMB 4.177 billion, which is a year-on-year growth of 12.38%[9] - The company's operating revenue for 2019 was CNY 41.65 billion, an increase of 4.08% compared to 2018[18] - Net profit attributable to shareholders for 2019 was CNY 3.82 billion, reflecting an 11.95% increase year-over-year[18] - The net cash flow from operating activities for 2019 was CNY 3.37 billion, a significant recovery from a negative cash flow in 2018[18] - The company's total assets at the end of 2019 reached CNY 97.51 billion, a 22.38% increase from 2018[18] - The net asset attributable to shareholders increased by 42.24% to CNY 41.12 billion by the end of 2019[18] - The company's cash flow from operating activities showed a strong recovery in Q4 2019, reaching CNY 3.03 billion[21] - The company reported a total of CNY 314.59 million in non-recurring gains and losses for 2019, primarily from the disposal of a subsidiary[22] - The company’s cash flow from operating activities was RMB 3.37 billion, a significant recovery from a negative cash flow of RMB 1.59 billion in the previous year[68] - The company’s backlog of orders at the end of 2019 stood at RMB 104.94 billion[59] - The company’s operating costs rose by 3.82%, which was lower than the revenue growth rate, indicating improved cost management[70] Market Position and Strategy - The company maintained its market leadership in the railway sector, winning key projects such as the "Four Electrifications" integration for Anjiu, Lunan, Lianxu, and others[9] - The company is a global leader in rail transit control system solutions, with a focus on safety and efficiency in national rail operations[25] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company is actively expanding its overseas market presence, leveraging the "Belt and Road" initiative to increase its global influence[54] - The urban rail transit sector in China is experiencing rapid growth, with over 3,000 km of new operational mileage expected by 2020[31] - The company maintains a strong position in the urban rail transit market, having covered nearly 90 operational lines in China[33] - The company plans to adapt its fundraising strategy to enhance financial resource deployment efficiency, pending shareholder approval[97] Research and Development - The company made significant progress in technology-driven innovation, including the trial use of CTCS-3+ATO and CTCS-3 level autonomous RBC systems[9] - Research and development expenses accounted for 3.85% of operating revenue in 2019, up from 3.45% in 2018[19] - The company is actively engaged in R&D for advanced and intelligent technologies, aiming for breakthroughs in areas such as smart urban transportation and specialized rail transit chips[25] - The company has developed a comprehensive service model that includes design integration, equipment manufacturing, and system delivery, enhancing its ability to meet diverse customer needs[32] - The company has achieved significant strategic breakthroughs in core technologies, particularly in the internationalization of China's high-speed rail standards and industrial output[34] - The company has completed the development of the core train control equipment for the ETCS system, with a total investment of 4,455 million CNY, including 519 million CNY in the current period and a cumulative investment of 2,902 million CNY[49] - The company has undertaken 39 national and provincial research projects supported by government and industry authorities[42] - The company has completed the C3+ATO and C3 level autonomous RBC trial in Beijing-Shenyang, and established the first overseas high-speed rail core technology laboratory in Europe[42] Corporate Governance and Compliance - The company appointed Ernst & Young Huaming as the domestic auditor for 2019, with an audit fee of CNY 6,600,000[118] - The company did not experience any major litigation or arbitration matters during the reporting period[120] - The company has not engaged in any major related party transactions that require disclosure under the relevant regulations[125] - The company has a long-term commitment to fulfill public commitments made in the prospectus[111] - The company will publicly disclose reasons for any failure to fulfill commitments in designated media[112] - The company has received commitments from major shareholders regarding the lock-up of their shares for 12 months from the listing date[114] Environmental and Social Responsibility - The company is committed to environmental protection and adheres to national ecological and environmental laws and regulations[145] - The company has implemented targeted poverty alleviation measures, focusing on the overall goal of poverty alleviation in Sheqi County, with a total investment in poverty alleviation projects[142] - The company has helped sell agricultural products worth 347,300 RMB in impoverished areas, promoting local industry development[142] - The company has constructed a multifunctional teaching building and assisted 65 university students from poor families[142] - The company has provided health assistance by constructing a hospital building and helping 2,762 impoverished individuals[142] - The company has improved rural infrastructure by repairing roads and installing solar street lights in impoverished villages[142] Shareholder Information - The company plans to distribute a cash dividend of RMB 2 per 10 shares to all shareholders based on a total share capital of 10,589,819,000 shares as of December 31, 2019[5] - The company distributed a cash dividend of CNY 2.0 per 10 shares, totaling CNY 2,117,963,800.00, which accounted for 55.50% of the net profit attributable to ordinary shareholders[104] - The company has a profit distribution policy to distribute profits to shareholders, strictly adhering to the review procedures of the profit distribution plan[109] - The company has seen an increase in restricted shares from various investment funds, totaling 75,629,400 shares[160] - The company has a total of 10 major shareholders, with the top three being state-owned entities, indicating a strong state influence in ownership[164] Human Resources - The company has a total of 4,235 R&D personnel, accounting for 20.99% of the total workforce[46] - The company conducted 4,599 training sessions, training a total of 62,646 individuals, including 11,848 management personnel[199] - The company has established a salary system linked to economic performance and labor productivity, focusing on attracting and retaining core talent[197] - The total pre-tax remuneration for executives and key technical personnel in 2019 amounted to CNY 1,666.75 million[182] - The company has implemented a training plan to enhance the capabilities of its workforce, including international talent development initiatives[199]

CRSC 中国通号 China Railway Signal & Communication Corporation Limited* 中 國 鐵 路 通 信 信 號 股 份 有 限 公 司 ( 在中華人民共和國註冊成立的股份有限公司 ) 股份代號：3969 2019 中期報告 * 僅供識別 重要提示 一、本公司董事會、監事會及董事、監事、高級管理人員保證中期報告內容的真實、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、公司全體董事出席董事會會議。 三、本中期報告未經審計。 四、公司負責人周志亮、主管會計工作負責人胡少峰及會計機構負責人（會計主管人員）邱巍聲 明：保證中期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 無。 六、前瞻性陳述的風險聲明 本報告存在一些基於對未來政策和經濟走勢的主觀假設和判斷而做出的預見性陳述，受諸多可變因素影 響，實際結果或趨勢可能會與這些預見性陳述出現差異。 本報告所涉及的未來計劃、發展戰略等前瞻性描述不構成公司對投資者的實質承諾，敬請投資者注意投 資風險。 七、是否存在被控股股東及其關聯方非 ...