2018 年年度报告 公司代码：600284 公司简称：浦东建设 上海浦东路桥建设股份有限公司 2018 年年度报告 1 / 174 2018 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、 公司全体董事出席董事会会议。 三、 立信会计师事务所（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。 四、 公司负责人李树逊、主管会计工作负责人朱音及会计机构负责人（会计主管人员）奚凯燕声 明：保证年度报告中财务报告的真实、准确、完整。 五、 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 公司2018年度利润分配预案为：拟以2018年12月31日总股本97,025.60万股为基数，向全体股 东每10股派发现金红利人民币1.50元（含税），共分配现金红利人民币145,538,400.00元。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实际承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联 ...

Financial Performance - Operating revenue for the first nine months rose by 14.85% to CNY 1,937,081,366.22 year-on-year[6] - Net profit attributable to shareholders decreased by 1.23% to CNY 214,868,022.53 compared to the same period last year[6] - The company reported a net profit margin improvement, with net profit for the year-to-date period reaching CNY 1,937,081,366.22 compared to CNY 1,686,599,717.74, an increase of approximately 14.8%[29] - The net profit for Q3 2018 was CNY 54,137,189.18, down from CNY 75,690,427.62 in Q3 2017, reflecting a decrease of approximately 28.5%[31] - The total profit for Q3 2018 was CNY 66,101,375.86, compared to CNY 92,287,704.30 in the same quarter last year, a decline of about 28.4%[31] - Total revenue for the first nine months of 2018 reached CNY 2,720,713,847.69, compared to CNY 2,893,183,283.93 in the same period last year, indicating a decrease of about 6%[38] Cash Flow - Net cash flow from operating activities showed a significant decline of 187.70%, resulting in a negative CNY 97,778,522.51[6] - The cash flow from operating activities showed a net outflow of CNY 97,778,522.51, contrasting with a net inflow of CNY 111,494,003.64 in the previous year[39] - Operating cash flow for the first nine months of 2018 was ¥88,567,249.22, a significant improvement from a negative cash flow of ¥254,306,308.01 in the same period last year[40] - Total cash outflow from operating activities was ¥90,687,149.76, significantly lower than ¥802,238,100.26 in the previous year[40] Assets and Liabilities - Total assets increased by 1.35% to CNY 11,328,222,517.37 compared to the end of the previous year[6] - Total liabilities rose to CNY 5,497,565,674.50 from CNY 5,398,470,378.19, an increase of about 1.84%[23] - The company's total current assets amounted to RMB 9,035,471,453.70, up from RMB 8,691,536,606.73 at the beginning of the year[21] - The total liabilities increased significantly, with bonds payable rising by 199.99% to RMB 398,599,859.55 due to the issuance of corporate bonds[15] Shareholder Information - The top shareholder, Shanghai Pudong Development (Group) Co., Ltd., holds 25.39% of the shares[12] Research and Development - The company's research and development expenses surged by 89.45% to RMB 28,034,021.74, reflecting increased R&D activities by subsidiaries[15] - Research and development expenses for Q3 2018 amounted to CNY 32,763,070.32, a significant increase from CNY 7,875,873.15 in Q3 2017, marking an increase of approximately 315.5%[34] Government Support - The company received government subsidies amounting to CNY 14,098,286.00 during the reporting period[9] Other Financial Metrics - Basic earnings per share decreased by 1.23% to CNY 0.2215[8] - The weighted average return on equity decreased by 0.22 percentage points to 3.87%[6] - The company reported a basic earnings per share of CNY 0.0542 for Q3 2018, down from CNY 0.0711 in Q3 2017, a decrease of about 23.9%[32] - The total comprehensive income for Q3 2018 was CNY 55,273,495.01, compared to CNY 72,354,487.79 in the same quarter last year, a decrease of approximately 23.6%[32] Investment Activities - Investment activities generated a net cash inflow of CNY 2,383,888,747.73, significantly higher than CNY 525,926,172.67 in the same period last year[39] - The company received CNY 8,852,000,000.00 from investment recoveries, up from CNY 6,850,000,000.00 in the previous year[39] - Cash received from investment income was ¥507,453,415.15, a notable increase from ¥21,783,546.39 in the same period last year[40] Dividends and Interest - The company paid CNY 196,109,190.63 in dividends and interest, compared to CNY 129,607,766.78 in the previous year, reflecting an increase of approximately 51%[39] Meetings and Corporate Actions - The company held its first extraordinary general meeting on September 21, 2018, to elect new board members and approve capital reduction for a subsidiary[17]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,259,646,640.19, representing a 27.34% increase compared to CNY 989,225,648.60 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was CNY 162,234,320.62, which is a 9.23% increase from CNY 148,527,567.31 in the previous year[17]. - The total profit for the period was RMB 195.61 million, up RMB 12.30 million or 6.71% compared to the same period last year[34]. - The company achieved a consolidated operating revenue of RMB 1,259.65 million in the first half of 2018, an increase of RMB 270.42 million or 27.34% year-on-year[41]. - The net profit attributable to the parent company was RMB 162.23 million, reflecting a year-on-year increase of RMB 13.71 million or 9.23%[34]. - The company reported a total comprehensive income of RMB 23,885,808.13 for the current period, a decrease of RMB 3,021,926.25 compared to the previous period[135]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -25,719,807.45, an improvement from CNY -88,232,429.22 in the same period last year[17]. - The company reported a net cash flow from investment activities of -RMB 25.72 million, an improvement of RMB 62.51 million compared to the previous year[42]. - The cash flow from operating activities showed a positive trend, contributing to the overall financial stability[118]. - The company reported cash and cash equivalents at the end of the period amounting to CNY 2,249,329,253.62, an increase from CNY 1,930,464,394.41 at the end of the previous year[123]. - The total cash and cash equivalents at the end of the period reached ¥639,483,183.89, up from ¥436,223,920.53, showing improved liquidity[126]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 11,072,276,076.24, a decrease of 0.94% from CNY 11,177,820,837.66 at the end of the previous year[18]. - The total liabilities decreased to RMB 5.32 billion from RMB 5.40 billion, reflecting a reduction in overall debt levels[111]. - The company's total equity at the end of the reporting period was RMB 5,179,442,099.57, compared to RMB 4,871,773,776.15 at the end of the previous period, reflecting an increase of approximately 6.3%[134]. Investment and Projects - The company has invested over RMB 30 billion in infrastructure projects, focusing on urban road networks and high-grade highways in the Yangtze River Delta region[31]. - The company is actively pursuing new project collaborations, including agreements with local governments for biomass center and digital farmland projects[35]. - The company completed construction projects including the Huangpu River E8E10 unit and the expansion of the Changshu waste incineration power plant, contributing to market share growth[34]. Share Capital and Equity - The total share capital at the end of the reporting period was 970,256,000 shares, a 40.00% increase from 693,040,000 shares at the end of the previous year[18]. - The company has a total of 78,075 common stock shareholders as of the end of the reporting period[78]. - The company’s registered capital increased to RMB 970,256,000.00 after a capital increase of RMB 277,216,000.00 through capital reserves[141]. Research and Development - Research and development expenses increased by 20.06% to RMB 26.61 million, indicating a commitment to enhancing technological capabilities[41]. - The company holds 95 valid patents, including 34 invention patents and 61 utility model patents, showcasing its strong technological capabilities in road construction[31]. Regulatory and Compliance - The company did not report any significant risk events during the reporting period[5]. - There were no significant lawsuits or arbitration matters during the reporting period[63]. - The company confirmed that there were no major related party transactions during the reporting period[63]. Market and Competitive Landscape - The competitive landscape in the construction industry has intensified due to increased market competition and regulatory requirements[28]. - The company is transitioning from a traditional construction business to an infrastructure investment and operation model, aiming for higher value-added services[24]. Financial Management and Governance - The company has committed to not engage in competitive businesses with its subsidiaries and to avoid unnecessary related transactions[61]. - The company will not interfere with the operational autonomy of the listed company and respects its decision-making processes[61]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[81]. Accounting and Financial Reporting - The financial statements are prepared based on the actual transactions and events, in accordance with the accounting standards issued by the Ministry of Finance[144]. - The company includes all subsidiaries under its control in the consolidated financial statements[153]. - The company adheres to the accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status[147].

Financial Performance - Operating revenue for the period reached CNY 566,116,612.19, representing a growth of 38.12% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 73,244,206.22, an increase of 7.00% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 47,076,815.19, a decrease of 21.49% year-on-year[7] - Basic and diluted earnings per share were both CNY 0.1057, reflecting a 7.00% increase compared to the previous year[7] - Total operating revenue for the current period reached ¥566,116,612.19, a significant increase of 38% compared to ¥409,880,626.33 in the previous period[26] - Net profit for the current period was ¥74,857,974.48, representing a 5% increase from ¥71,454,724.85 in the previous period[28] - The company achieved a gross profit margin of approximately 4.4% for the current period, compared to 3.9% in the previous period[26] Cash Flow - The company reported a net cash flow from operating activities of CNY -88,800,171.05, indicating a significant decline compared to CNY -6,905,859.19 in the same period last year[7] - Cash inflow from operating activities totaled ¥1,282,377,331.36, compared to ¥1,056,727,633.46 in the previous period, marking a growth of 21.3%[33] - The net cash flow from operating activities was -88,800,171.05 RMB, compared to -6,905,859.19 RMB in the previous period, indicating a decline in operational performance[34] - Cash inflow from investment activities totaled 3,132,254,276.81 RMB, up from 2,624,409,985.11 RMB, reflecting an increase of approximately 19.3%[34] - The net cash flow from investment activities was 256,044,478.88 RMB, a significant improvement from -273,046,636.51 RMB in the previous period[34] - Cash inflow from financing activities reached 409,690,000.00 RMB, compared to 254,010,000.00 RMB, marking an increase of approximately 61.3%[34] - The net cash flow from financing activities was 400,237,125.00 RMB, up from 103,133,475.00 RMB, indicating a strong improvement in financing operations[34] - The total cash and cash equivalents at the end of the period increased to 2,375,458,204.93 RMB from 1,553,681,701.24 RMB, representing a growth of approximately 52.9%[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,145,719,341.31, a decrease of 0.29% compared to the end of the previous year[7] - The total liabilities increased significantly, with bonds payable rising by CNY 398,114,084.00, reflecting a 199.75% increase due to the new bond issuance[15] - Current liabilities decreased from CNY 4,212,959,801.23 to CNY 3,839,717,382.16, a reduction of about 8.84%[21] - Long-term liabilities increased from CNY 1,185,510,576.96 to CNY 1,564,462,150.20, an increase of approximately 32%[21] - Total equity attributable to shareholders decreased from CNY 5,523,547,253.13 to CNY 5,472,432,834.35, a decrease of about 0.93%[22] - The total liabilities increased slightly from CNY 5,398,470,378.19 to CNY 5,404,179,532.36, an increase of approximately 0.11%[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 79,462[11] - The largest shareholder, Shanghai Pudong Development (Group) Co., Ltd., held 25.39% of the shares[11] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 6,360,670.00[9] - The company recorded a non-operating income of CNY 26,167,391.03 after accounting for various non-recurring items[10] - Other income surged to CNY 6,241,674.89, a dramatic increase of 3206.33%, mainly due to higher government subsidies received compared to the previous year[15] - The company reported a decrease in tax expenses to ¥16,329,554.84 from ¥13,064,888.07, indicating a rise in profitability[28] Investment Activities - The company reported an investment income of ¥60,315,251.57, slightly up from ¥60,054,176.60 year-over-year[26] - The investment income from joint ventures and associates was ¥24,074,215.34, up from ¥16,581,221.80, showing a growth of 45%[26]

Financial Performance - The company's operating revenue for 2017 was RMB 3,261,833,528.99, representing a 28.54% increase compared to RMB 2,537,631,599.62 in 2016[21] - The net profit attributable to shareholders for 2017 was RMB 371,356,727.21, a 3.41% increase from RMB 359,112,257.83 in 2016[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 313,901,690.49, showing a decrease of 10.59% compared to RMB 351,072,775.13 in 2016[21] - The net cash flow from operating activities for 2017 was RMB 353,223,215.18, a significant improvement from a negative RMB 124,493,617.77 in 2016[21] - The total assets at the end of 2017 were RMB 11,177,820,837.66, a slight increase of 0.83% from RMB 11,085,595,075.72 at the end of 2016[21] - The net assets attributable to shareholders at the end of 2017 were RMB 5,523,547,253.13, reflecting a 4.91% increase from RMB 5,264,990,307.14 at the end of 2016[21] - The basic earnings per share for 2017 were RMB 0.5358, up 3.41% from RMB 0.5182 in 2016[22] - The diluted earnings per share for 2017 were also RMB 0.5358, consistent with the basic earnings per share[22] - The weighted average return on net assets for 2017 was 6.90%, a slight decrease of 0.09 percentage points from 6.99% in 2016[22] Quarterly Performance - In Q1, the company reported revenue of approximately RMB 409.88 million, with net profit attributable to shareholders of RMB 68.45 million[24] - In Q2, revenue increased to approximately RMB 579.35 million, with net profit attributable to shareholders rising to RMB 80.08 million[24] - In Q3, revenue further grew to approximately RMB 697.37 million, while net profit attributable to shareholders decreased to RMB 69.01 million[24] - In Q4, the company achieved revenue of approximately RMB 1.58 billion, with net profit attributable to shareholders reaching RMB 153.82 million[24] - The net cash flow from operating activities showed a significant improvement, moving from a negative RMB 6.91 million in Q1 to a positive RMB 241.73 million in Q4[24] Business Strategy and Operations - The company is transitioning from a traditional construction business to an "investment construction operator," diversifying its profit structure beyond just construction profits[31] - The infrastructure investment projects are primarily concentrated in economically developed regions, ensuring stable revenue sources due to strong local government finances[31] - The company holds multiple construction qualifications, enhancing its ability to undertake various engineering projects[32] - The asphalt production and sales business is supported by a complete industry chain, from R&D to sales, with leading technology in the industry[33] - The company anticipates that the PPP model will remain a primary method for social capital investment in infrastructure projects in the coming years[33] - The company signed new project contracts amounting to RMB 622.56 million, representing a 17.41% increase compared to the previous year[38] - The construction contract for the Songze Elevated West Extension Project amounted to RMB 1.417 billion, marking the highest single project contract in the company's municipal total contracting history[38] Research and Development - The company applied for 2 PCT (international patents), 20 invention patents, and 29 utility model patents, obtaining 15 patents by the end of the reporting period[43] - The company achieved a BIM project coverage rate of 70% in its ongoing projects, enhancing its management capabilities[40] - The total R&D investment was ¥50,161,269.06, representing 1.54% of operating revenue[64] - The company had 187 R&D personnel, accounting for 37.33% of total employees[64] Financial Management - The company successfully raised RMB 400 million in financing during 2017, all through debt financing, including RMB 200 million from bond issuance[83] - The company has a fair value of RMB 12,000,000.00 for its available-for-sale financial assets[87] - The company’s projects are financed through bank loans and bond issuance, ensuring stable funding for operations[83] - The company reported a total of 250 million CNY in structured deposits with a return of 3.30% from the Shanghai Pudong Development Bank[126] - The company achieved a return of 3.85% on 250 million CNY in structured deposits from China Everbright Bank[126] Shareholder Information - The top ten shareholders include Shanghai Pudong Development (Group) Co., Ltd. with 175,960,081 shares, accounting for 25.39% of total shares[143] - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of Shanghai Pudong New Area[146] - The company has no significant changes in controlling shareholders during the reporting period[145] - The number of ordinary shareholders increased from 79,558 to 81,408 during the reporting period[140] Governance and Compliance - The company has maintained a transparent information disclosure process, adhering to relevant laws and regulations[172] - The company has not faced any penalties from securities regulatory authorities in the past three years[163] - The internal control self-assessment report was disclosed on March 8, 2018, with no significant deficiencies reported[176] - The company confirmed that there were no issues regarding independence or operational autonomy from the controlling shareholder[175] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[158] - New product launches are expected to contribute an additional 1 billion RMB in revenue, with a focus on innovative technology solutions[159] - The company plans to enter new geographic markets, aiming for a 10% contribution to overall revenue from these regions by the end of the next fiscal year[158] - The management team emphasized the importance of digital transformation, with a target of 40% of operations being digital by 2025[159]

Financial Performance - Operating revenue increased by 36.98% to CNY 1,686,599,717.74 for the first nine months of the year[4] - Net profit attributable to shareholders decreased by 4.17% to CNY 217,534,988.22 compared to the same period last year[4] - Basic and diluted earnings per share decreased by 4.17% to CNY 0.3139[5] - The weighted average return on net assets decreased by 0.37 percentage points to 4.09%[5] - The net profit after deducting non-recurring gains and losses decreased by 18.54% to CNY 182,518,902.34 compared to the same period last year[4] - Total operating revenue for the first nine months reached CNY 1,686,599,717.74, an increase from CNY 1,231,274,922.68 in the same period last year, representing a growth of approximately 37%[21] - Total operating costs for the first nine months were CNY 1,589,912,746.12, compared to CNY 1,173,963,336.54 in the previous year, indicating a rise of about 35%[21] - Net profit for the first nine months was CNY 164,859,083.43, down from CNY 289,802,531.15 year-over-year, reflecting a decrease of approximately 43%[21] - The total profit for the first nine months of 2017 was CNY 32,083,956.09, compared to CNY 511,664,343.32 for the same period in the previous year, showing a decrease of about 93.7%[27] Assets and Liabilities - Total assets decreased by 3.09% to CNY 10,743,433,980.12 compared to the end of the previous year[4] - The total assets as of September 30, 2017, amounted to approximately RMB 10.74 billion, a decrease from RMB 11.09 billion at the beginning of the year[16] - The total liabilities decreased to approximately RMB 8.60 billion from RMB 8.79 billion, indicating a reduction of about 2.2%[16] - Total liabilities were CNY 1,484,477,509.80, down from CNY 1,977,820,317.32 at the beginning of the year, showing a reduction of about 25%[19] - The company's equity attributable to shareholders increased to CNY 4,788,425,851.72 from CNY 4,871,773,776.15, reflecting a slight decrease of around 1.7%[19] Cash Flow - Net cash flow from operating activities improved significantly to CNY 111,494,003.64, compared to a negative cash flow of CNY 435,601,226.41 in the previous year[4] - The cash flow from operating activities for the first nine months of 2017 was CNY 2,240,299,319.57, compared to CNY 1,453,470,402.88 in the same period last year, indicating an increase[29] - The net cash flow from operating activities for Q3 2017 was ¥111,494,003.64, a significant improvement compared to a net outflow of ¥435,601,226.41 in the same period last year[30] - Total cash inflow from investment activities reached ¥9,819,845,279.74, up from ¥6,719,892,034.11 year-over-year[30] - The net cash flow from investment activities was ¥525,926,172.67, a decrease from ¥3,964,788,678.43 in the previous year[30] - Cash inflow from financing activities totaled ¥413,524,500.00, compared to ¥1,649,400,000.00 in the same quarter last year[31] - The net cash flow from financing activities was -¥369,583,266.78, a decline from -¥1,700,668,061.57 year-over-year[31] Shareholder Information - The total number of shareholders reached 80,450[9] - The largest shareholder, Shanghai Pudong Development (Group) Co., Ltd., holds 25.39% of the shares[9] Government Support - The company received government subsidies amounting to CNY 13,971,495.05 during the reporting period[6] Operational Changes - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[20] - The company reported a significant decrease in short-term borrowings, which fell by 33.33% to RMB 100 million from RMB 150 million[16] - The company's employee compensation payable decreased significantly by 79.85%, amounting to approximately RMB 23.63 million[12] Other Financial Metrics - The investment income decreased by 43.11% to approximately RMB -124.94 million, primarily due to early repurchases of certain projects[12] - The company's cash and cash equivalents increased to approximately RMB 1.99 billion from RMB 1.73 billion at the beginning of the year, reflecting a growth of about 15.5%[14] - Accounts receivable rose to approximately RMB 444.54 million, up from RMB 435.94 million, indicating a slight increase of 1.4%[14] - The company's prepayments increased by 48.59% to approximately RMB 51.74 million, compared to RMB 34.82 million at the beginning of the year[11] - The company reported a financial expense of CNY -2,155,581.03 for the first nine months, compared to CNY 30,715,323.38 in the previous year, indicating a significant improvement[21]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 989,225,648.60, representing a 6.34% increase compared to CNY 930,239,449.88 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 148,527,567.31, which is a 2.70% increase from CNY 144,628,407.95 year-on-year[18]. - The basic earnings per share for the first half of 2017 was CNY 0.2143, reflecting a 2.70% increase compared to CNY 0.2087 in the previous year[19]. - The total profit for the period was RMB 18.33 million, a decrease of RMB 5.27 million or 22.34% year-on-year[37]. - The net profit attributable to the parent company was RMB 14.85 million, up by RMB 0.39 million or 2.70% from the previous year[37]. - The company achieved a consolidated revenue of RMB 989.23 million in the first half of 2017, an increase of RMB 5.90 million or 6.34% compared to the same period last year[41]. - The net profit for the first half of 2017 reached CNY 367.52 million, compared to CNY 26.91 million in the previous year, indicating significant growth[110]. - The company reported a total comprehensive income of CNY 368.84 million for the first half of 2017, compared to CNY 23.89 million in the previous year[110]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 10,977,799,658.40, showing a decrease of 0.97% from CNY 11,085,595,075.72 at the end of the previous year[18]. - The total assets as of the end of the reporting period were CNY 6,582,535,451.94, down from CNY 6,849,594,093.47, a decrease of 3.9%[105]. - Total liabilities amounted to CNY 1,794,990,107.66, a decrease from CNY 1,977,820,317.32, reflecting a reduction of 9.2%[105]. - The total equity of the company was CNY 4,787,545,344.28, down from CNY 4,871,773,776.15, indicating a decline of 1.7%[105]. - The company's total equity attributable to shareholders was 5,550,701,889.71 CNY at the end of the reporting period[121]. - The total owner's equity at the end of the reporting period is 5,775,211,329.08 CNY[122]. - The company's total liabilities included a cash inflow from borrowings of 549,000,000.00 CNY, indicating reliance on debt financing[116]. Cash Flow - The net cash flow from operating activities was CNY -88,232,429.22, an improvement from CNY -437,058,962.91 in the same period last year[18]. - Cash inflow from investment activities totaled CNY 6.46 billion, a substantial increase from CNY 2.18 billion in the previous year[112]. - Cash flow from financing activities resulted in a net outflow of CNY 99.63 million, compared to a net outflow of CNY 1.07 billion in the same period last year[113]. - The company reported cash and cash equivalents at the end of the period amounting to CNY 1.93 billion, up from CNY 1.20 billion at the end of the previous year[113]. - The company recorded a net increase in cash and cash equivalents of -194,163,326.85 CNY, reflecting a decline in liquidity[116]. Investments and Projects - The company has invested over RMB 28 billion in infrastructure projects, focusing on urban road networks and public facilities in the Yangtze River Delta region[33]. - The company is transitioning from a traditional construction model to an investment and operation model in infrastructure, diversifying its profit structure[24]. - The company operates in the PPP model, with 13,554 projects recorded nationwide, totaling an investment of RMB 16.3 trillion, with a 34.2% project landing rate[30]. - The company is actively expanding into new PPP projects, including smart city initiatives and water environment management[31]. - The company is actively pursuing new projects, including several municipal and asphalt-related projects, to expand its market presence[38]. Financial Management - The company successfully issued bonds raising RMB 200 million during the reporting period, enhancing its financing capabilities[38]. - The company has established a comprehensive financing system by balancing equity and debt financing, which reduces risks while enhancing its strength and value[38]. - The company received approval from the China Securities Regulatory Commission to publicly issue bonds totaling up to RMB 1.9 billion within 24 months starting from March 23, 2016[70]. - The company completed the first phase of its public bond issuance on March 1, 2017, with a total issuance size of RMB 200 million and an annual coupon rate of 4.46%[70]. - The company has a total bank credit line of RMB 5,105 million, with RMB 50 million utilized and a remaining balance of RMB 5,055 million[95]. Operational Efficiency - The company has a strong technical capability in road construction, being the first in the industry to establish an engineering technology research institute[33]. - The company has established a complete asphalt production chain, achieving a leading position in the industry with first-class qualifications in asphalt mixture production[28]. - The company's construction business remains the main source of revenue, supported by its extensive qualifications and technical expertise[26]. - The company reported a significant increase in sales revenue from asphalt concrete and related products, which rose by 107.62% to RMB 71.37 million[41]. - The operating costs increased by 12.76% to RMB 881.47 million, primarily due to higher project workloads and increased sales of asphalt concrete[43]. Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[5]. - The company committed to not engage in any business that competes with its main operations, ensuring no direct or indirect competition from its controlling shareholders[60]. - The company guarantees the independence of its operations and financial integrity, ensuring that its assets and financials remain distinct from its controlling shareholders[60]. - The company will not participate in any related party transactions that could harm its interests, adhering to fair pricing principles[60]. - The company appointed Lixin Certified Public Accountants for the 2017 annual report audit, with a total fee of RMB 980,000, including RMB 600,000 for the annual report audit and RMB 380,000 for internal control audit[61]. Accounting Policies - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status[138]. - The company applies the accounting treatment for business combinations under common control by measuring the acquired assets and liabilities at their book value on the merger date[142]. - The company recognizes the difference between the consideration paid for minority equity purchases and the share of net assets acquired in capital reserves, adjusting retained earnings if necessary[150]. - The company classifies financial instruments at initial recognition, including those measured at fair value with changes recognized in profit or loss, held-to-maturity investments, receivables, and available-for-sale financial assets[153]. - The company recognizes impairment losses for goodwill only after testing related asset groups for impairment, ensuring a systematic approach to asset valuation[198].

Financial Performance - Operating revenue for the current period was CNY 409,880,626.33, down 12.67% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY 68,450,392.46, an increase of 14.53% compared to the same period last year[6] - Basic earnings per share increased by 14.53% to CNY 0.0988[6] - Net profit for Q1 2017 was CNY 71,454,724.85, a slight decrease of 4.29% compared to CNY 74,591,488.36 in Q1 2016[28] - The net profit for Q1 2017 was CNY 23,581,563.22, down from CNY 237,454,352.83 in Q1 2016, representing a decline of approximately 90%[32] - The total comprehensive income attributable to the parent company was CNY 66,175,486.46, compared to CNY 61,325,961.80 in the previous year, indicating a growth of about 8%[32] - The total comprehensive income for Q1 2017 was CNY 21,306,657.22, a significant decrease from CNY 239,012,402.83 in Q1 2016[32] Cash Flow - The net cash flow from operating activities was CNY -6,905,859.19, compared to CNY -355,734,700.11 in the same period last year, indicating a significant improvement[6] - Cash inflow from investment activities was CNY 2,624,409,985.11, significantly higher than CNY 319,646,882.53 in the previous year[35] - The cash flow from financing activities resulted in a net inflow of CNY 103,133,475.00, compared to CNY 58,554,465.53 in the same period last year[36] - The net cash flow from operating activities was -$247.12 million, an improvement from -$268.41 million in the previous period[38] - Cash inflow from investment activities totaled $356.94 million, compared to $258.30 million in the prior period, resulting in a net cash flow of $60.81 million from investments[39] - Cash inflow from financing activities was $249.00 million, down from $790.00 million in the previous period, leading to a net cash outflow of -$81.88 million from financing[39] - Total cash outflow from operating activities was $387.23 million, down from $615.82 million in the previous period[38] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,692,417,082.75, a decrease of 3.55% compared to the end of the previous year[6] - The total assets as of March 31, 2017, amounted to CNY 6,451,665,063.71, down from CNY 6,849,594,093.47 at the beginning of the year[24] - Total liabilities as of March 31, 2017, were CNY 1,666,698,870.34, a decrease from CNY 1,977,820,317.32 at the start of the year[24] - The company's cash and cash equivalents decreased to CNY 362,195,380.71 from CNY 630,387,247.38 at the beginning of the year, representing a decline of 42.5%[22] - The ending cash and cash equivalents balance was CNY 1,553,681,701.24, down from CNY 1,150,902,641.03 at the end of the previous year[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 85,632[11] - The largest shareholder, Shanghai Pudong Development (Group) Co., Ltd., held 175,960,081 shares, representing 25.39% of the total shares[11] Other Income and Expenses - The company reported non-operating income from the disposal of non-current assets amounting to CNY 172,762.95[7] - Government subsidies recognized in the current period amounted to CNY 134,667.50[8] - Other comprehensive income decreased by 2,274,906.00 RMB, a 45.14% decline, due to lower comprehensive income from joint ventures[14] - Investment income decreased by 29,604,769.66 RMB, a 33.02% drop, primarily due to early repurchase of certain BT projects[14] Changes in Receivables and Payables - Accounts receivable increased by 2,000,000.00 RMB due to the receipt of customer acceptance bills[13] - Interest receivable rose by 8,914,567.03 RMB, a 30.73% increase, attributed to accrued but unpaid interest from BT projects[13] - Short-term borrowings decreased by 100,000,000.00 RMB, a 66.67% reduction, due to repayment of short-term loans[13] - Employee compensation payable decreased by 69,970,265.03 RMB, a 59.68% decline, as a result of payments made by subsidiary Shanghai Pudong Road and Bridge Construction Co., Ltd.[13] - Tax payable decreased by 55,994,135.15 RMB, a 37.45% reduction, due to the payment of previously accrued taxes[13] - Interest payable increased by 3,794,498.61 RMB, a 71.66% rise, due to accrued but unpaid interest[13] - Dividends payable increased by 108,114,240.00 RMB, reflecting the current period's dividend distribution accrual[13]

Financial Performance - The company's operating revenue for 2016 was RMB 2,537,631,599.62, a decrease of 19.79% compared to RMB 3,163,612,533.59 in 2015[18] - The net profit attributable to shareholders of the listed company was RMB 359,112,257.83, down 5.29% from RMB 379,157,801.95 in the previous year[18] - The total assets at the end of 2016 were RMB 11,085,595,075.72, representing a decrease of 17.05% from RMB 13,364,375,032.74 at the end of 2015[19] - The net assets attributable to shareholders of the listed company increased by 4.74% to RMB 5,264,990,307.14 from RMB 5,026,929,050.17 in 2015[19] - The basic earnings per share for 2016 was RMB 0.5182, a decrease of 5.29% compared to RMB 0.5471 in 2015[20] - The weighted average return on net assets was 6.99%, down from 7.76% in the previous year, a decrease of 0.77 percentage points[20] - The company reported a net cash flow from operating activities of RMB -124,493,617.77, compared to RMB -229,732,385.98 in 2015[19] - The company achieved a total operating revenue of RMB 2,537.63 million in 2016, a decrease of 19.79% compared to the previous year, primarily due to lower work volume on ongoing projects and the implementation of tax reforms[45] - The net profit attributable to shareholders was RMB 359.11 million, down 5.29% from RMB 379.16 million in the previous year, mainly due to reduced government subsidies[45] Revenue Breakdown - In Q1, the company reported operating revenue of ¥469,343,121.49, with net profit attributable to shareholders of ¥59,767,911.80[22] - In Q2, operating revenue decreased slightly to ¥460,896,328.39, while net profit attributable to shareholders increased to ¥84,860,496.15[22] - In Q3, operating revenue further declined to ¥301,035,472.80, with net profit attributable to shareholders at ¥82,370,245.02[22] - For Q4, the company achieved a total operating revenue of ¥1,306,356,676.94, with net profit attributable to shareholders reaching ¥132,113,604.86[22] - The revenue from construction projects was 2,441,857,876.29 yuan, accounting for 96.23% of total revenue, indicating a stable revenue stream from core operations[68] Business Strategy and Operations - The company has shifted its business model from traditional construction to infrastructure investment and operation, diversifying its profit structure[29] - The infrastructure investment projects are primarily concentrated in economically developed regions, ensuring stable revenue sources[31] - The construction engineering segment remains the main contributor to operating revenue, supported by various professional qualifications[32] - The company has established a complete asphalt production and sales chain, enhancing its competitive edge in the market[33] - The environmental business focuses on waste transportation, contributing to the company's sustainability efforts[34] - The company faces challenges from a slowing infrastructure investment growth rate but sees opportunities in urban renewal and PPP model promotion[35] Investment and Financing - The company has developed a multi-channel financing system, successfully raising funds through various instruments including corporate bonds and asset-backed notes[38] - The company’s investment scale exceeded RMB 28 billion, focusing on urban road networks and high-grade highway construction[37] - The company raised a total of RMB 1.65 billion through debt financing in 2016, including RMB 300 million from short-term financing notes and RMB 1.35 billion from bank loans[77] - The company plans to apply for loans not exceeding RMB 1.5 billion from financial institutions to ensure smooth project advancement in 2017[92] - The company will explore multi-channel financing models to reduce financing costs and improve the comprehensive return on investment projects[95] Cost and Profitability - The total operating costs decreased by 23.67% year-on-year, amounting to 2,154,462,108.77 CNY[51] - The gross profit margin for construction engineering projects was 7.55%, down from 9.94% in the previous year, reflecting a slight decline due to tax reform impacts[50] - The gross profit margin for asphalt concrete and related product sales was 11.27%, a decrease of 4.65 percentage points compared to the previous year[50] - The environmental business segment reported a gross profit margin of 26.79%, down 11.55 percentage points year-on-year, primarily due to tax reform[50] Shareholder and Governance - The company distributed a cash dividend of RMB 1.65 per 10 shares, totaling RMB 114,351,600 based on a total share capital of 69,304 million shares as of December 31, 2015[98] - The company has committed to not engaging in any business that competes with its core operations, ensuring no conflicts with its main business activities[102] - The company guarantees the independence of its financial and operational activities, ensuring that its assets remain independent and complete[101] - The company has a governance structure that complies with the Company Law and Securities Law, ensuring equal treatment of all shareholders[176] - The company held one annual general meeting during the reporting period, adhering to legal and regulatory requirements[176] Risk Management - The company faces risks related to BT project buyback, PPP project revenue, project financing, industry competition, accounts receivable, raw material price fluctuations, and engineering safety[93][94][95][96] - The company has established a strategy for risk management and resource integration through its acquisition activities, enhancing its market position[114] Human Resources and Training - The company employed a total of 2,459 staff, with 2,405 in major subsidiaries and 54 in the parent company[168] - The company organized 63 training sessions in 2016, with a total of 1,686 participants, focusing on professional qualifications and key position training[170] - The company has established a performance-based compensation system to align employee remuneration with company performance[169] Accounting and Audit - The company implemented a significant accounting policy change by executing the "Value-Added Tax Accounting Treatment Regulations," which affected the classification of tax-related items in the financial statements[104] - The company appointed Lixin Accounting Firm for the 2016 annual audit, with a total fee of RMB 980,000, including RMB 600,000 for the annual report audit and RMB 380,000 for internal control audit[107] Cash Management - The company has engaged in cash asset management, with a total of 100 million RMB in structured deposits with China Everbright Bank, yielding a total return of 257,500 RMB[120] - The company has also invested 110 million RMB in structured deposits with Shanghai Pudong Development Bank, generating a return of 275,305.56 RMB[122] - The actual recovery of principal amounts for all structured deposits is 100%[120] Corporate Bonds and Financing Activities - The company successfully issued the first phase of corporate bonds amounting to CNY 200,000,000 with a coupon rate of 4.46%[130] - The company raised CNY 30,000,000 through the issuance of ultra-short-term financing bonds at a coupon rate of 3.45%[130] - The company has a total of CNY 3,822,000,000 in overdue principal and interest that has not been recovered[128]

2016 年第三季度报告 公司代码：600284 公司简称：浦东建设 上海浦东路桥建设股份有限公司 2016 年第三季度报告 | 一、 | 重要提示 | 1 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 1 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 10 | 2016 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人郭亚兵、主管会计工作负责人罗芳艳及会计机构负责人（会计主管人员）朱音保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 1 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 11,853,723,937.70 13,364,375,032.74 -11.30 归属于上市公司 股东的净资产 5,134,00 ...