Financial Performance - The company's operating revenue for 2021 was CNY 15,141,359,771.88, representing a 31.85% increase compared to CNY 11,484,018,588.47 in 2020[18]. - The net profit attributable to shareholders of the listed company was CNY 686,807,088.65, a 6.19% increase from CNY 646,762,777.21 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 634,212,959.61, up 7.42% from CNY 590,406,875.82 in 2020[18]. - The company reported a negative cash flow from operating activities of CNY -242,599,848, a significant decrease compared to CNY 424,151,095 in 2020[18]. - The weighted average return on equity decreased by 1.38 percentage points to 9.56%[28]. - The company reported a net cash flow from operating activities of 352.26 million yuan in the fourth quarter[24]. - The company achieved a revenue of 15.14 billion RMB, representing a year-on-year growth of 31.85%[79]. - The net profit attributable to shareholders was 687 million RMB, an increase of 6.19% compared to the previous year[79]. - The net cash flow from operating activities was -243 million RMB, indicating a significant decline from the previous year's positive cash flow[80]. Dividend and Capital Management - The company plans to distribute a cash dividend of CNY 0.36 per 10 shares, totaling CNY 72,463,476.56, which accounts for 10.55% of the net profit attributable to shareholders[4]. - The company does not plan to increase capital reserves to share capital this year[4]. - The company has established a cash dividend policy, ensuring a minimum distribution of 30% of the average distributable profit over the last three years when conditions allow[191]. - The cash dividend policy is aligned with the company's articles of association and shareholder meeting resolutions, with clear standards and procedures in place[192]. - The company has committed to distributing profits in cash, provided it has positive retained earnings and sufficient cash flow for normal operations and long-term development[191]. Contracts and Business Development - The company signed a total of 441 new contracts with a cumulative contract value of 16.949 billion yuan, representing a year-on-year increase of 13.29%[30]. - New contracts in public building projects, primarily from government clients, amounted to 6.439 billion yuan, a year-on-year increase of 33.57%[34]. - Industrial building contracts signed totaled 7.249 billion yuan, with approximately 80% of orders coming from emerging industries such as 5G and new energy vehicles[34]. - The company signed 43 new EPC contracts, generating revenue of 4.168 billion yuan, accounting for 27.89% of main business income[35]. - The total amount of new contracts signed during the reporting period was 169.49 billion RMB, indicating strong demand in the market[117]. - As of the end of the reporting period, the total amount of orders on hand was 193.04 billion RMB, with 37.13 billion RMB in signed contracts yet to commence[118]. Innovation and Technology - The company established a new technical research and development expert committee, including 5 external experts and 12 internal experts, to enhance innovation capabilities[40]. - The company’s digital transformation year saw the successful signing of 10 projects, covering 5 provinces, marking a breakthrough in software sales[41]. - The company is collaborating with Beijing Guli Technology to develop a domestic BIM platform, enhancing its technological capabilities in the construction industry[75]. - The JID integrated software for industrial building design has improved design cycles by 50% and accuracy by over 40%, marking a significant advancement in the company's digital transformation[74]. - The company has received 35 patents and 2 provincial-level construction methods, reflecting its commitment to continuous innovation[65]. Market and Industry Trends - The construction industry is facing a labor supply shortage, with a decrease of 1.56% in the workforce from the previous year, totaling 52.83 million workers[59]. - The government aims for the steel structure usage to reach approximately 140 million tons by the end of 2025, accounting for over 15% of national crude steel output[60]. - Steel structure buildings are projected to constitute 15% of new building area by 2025, with policies encouraging their adoption in public buildings[60]. - The company anticipates that smaller steel structure enterprises lacking innovation will be gradually eliminated from the market, leading to industry consolidation[133]. Risk Management and Governance - The company has detailed potential risks in its management discussion and analysis section[4]. - The company has established a mechanism to track steel price fluctuations and adjust procurement strategies accordingly[143]. - The company actively engages in risk assessment and management to enhance accounts receivable management[138]. - The company has a governance structure in place that complies with relevant laws and regulations, ensuring effective decision-making and supervision[146]. - The company has maintained a comprehensive risk management system, focusing on financial data analysis and enhancing financial warning capabilities[197]. Employee and Management Structure - The total number of shares held by the chairman and CEO, Fang Chaoyang, remained unchanged at 5,028,124 shares, with a pre-tax remuneration of 1.4415 million yuan[157]. - The total pre-tax remuneration for the executive chairman, Sun Guanfeng, was 1.3503 million yuan, with no change in his shareholding of 396,000 shares[157]. - The company reported a total of 7,115 employees, with 1,032 in the parent company and 6,083 in major subsidiaries[186]. - The company has established a dual career development path for employees, allowing for independent progression in management and professional roles[187]. - The company has implemented a comprehensive training system to strengthen talent development across its business lines[188]. Strategic Investments - The company plans to invest 7.549 billion in the Jiangxi intelligent manufacturing industrial park project, which will add 200,000 tons of steel structure capacity upon completion[126]. - The company has invested 1 billion in the construction of a new manufacturing base for Jiangsu Jinggong Steel Structure Co., Ltd., with a total planned investment of 2 billion[122]. - The company plans to issue 2 billion RMB in convertible bonds to support projects including the Liu'an Technician College and the Yangtze Precision Manufacturing Industrial Park, as well as to supplement working capital[180]. - The company is focusing on the development of prefabricated buildings and promoting the use of steel structures in schools and hospitals[131]. Awards and Recognition - The company received 4 National Quality Engineering Awards, 5 Luban Awards, and 25 China Steel Structure Gold Awards during the reporting period, showcasing its industry leadership[37]. - The company has won multiple industry awards, including 2 Luban Awards and 5 National Quality Engineering Gold Awards, showcasing its strong technical capabilities[65].

Financial Performance - The company's operating revenue for Q3 2021 reached RMB 3,959.12 million, representing a 29.93% increase compared to the same period last year[6] - Net profit attributable to shareholders was RMB 229.70 million, a 5.37% increase year-over-year[8] - The net profit after deducting non-recurring gains and losses was RMB 213.83 million, reflecting a 0.47% increase from the previous year[8] - Total operating revenue for the first three quarters of 2021 reached RMB 10,394,955,067.50, a significant increase from RMB 7,760,264,965.19 in the same period of 2020, representing a growth of approximately 33.3%[30] - Total operating revenue increased to ¥9,831,175,876.38 from ¥7,224,312,494.25, representing a growth of approximately 36.4% year-over-year[33] - Net profit rose to ¥557,798,634.41 compared to ¥485,083,736.99 in the previous year, marking an increase of about 14.9%[37] - The company reported a total comprehensive income of ¥659,894,803.96, up from ¥484,005,083.54, indicating a growth of around 36.4%[39] - The total profit amounted to ¥597,994,043.37, up from ¥528,572,204.81, reflecting an increase of about 13.1%[37] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 17,351.31 million, showing a 9% increase compared to the end of the previous year[8] - As of September 30, 2021, total assets amounted to RMB 17,351,308,852.52, compared to RMB 15,843,935,032.64 at the end of 2020, indicating an increase of about 9.5%[30] - Current assets totaled RMB 13,196,090,025.28 as of September 30, 2021, up from RMB 12,407,014,582.89 at the end of 2020, reflecting a growth of approximately 6.4%[25] - Total liabilities reached RMB 9,981,093,336.47, compared to RMB 8,966,793,578.20 at the end of 2020, indicating an increase of approximately 11.3%[30] - The company's equity attributable to shareholders rose to RMB 7,356,517,051.43 from RMB 6,861,093,009.28, reflecting an increase of about 7.2%[30] Cash Flow - The net cash flow from operating activities was negative at RMB -594.86 million, a significant decrease of 424.57% compared to the same period last year[8] - Cash inflow from operating activities reached ¥10,769,627,559.54, compared to ¥7,961,387,576.12, showing a growth of approximately 35.5%[39] - The net cash flow from investing activities was -$266.07 million, worsening from -$74.42 million year-over-year[43] - Cash inflow from financing activities was $1.49 billion, down from $2.55 billion in the previous period[43] - The total cash and cash equivalents at the end of the period were $401.60 million, a decrease from $1.46 billion at the end of the previous period[43] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 127,745[17] - The largest shareholder, Jinggong Holdings Group (Zhejiang) Investment Co., held 300 million shares, accounting for 14.90% of the total shares[17] Mergers and Investments - The company completed a merger with Zhejiang Jinggong International Steel Structure Engineering Co., which required retrospective adjustments to financial statements[11] - The company is in the process of issuing convertible bonds, with the China Securities Regulatory Commission having accepted the application on September 1, 2021[21] - Long-term investments in equity amounted to RMB 884,499,500.84, up from RMB 857,263,216.43, representing a growth of approximately 3.2%[25] Expenses - Research and development expenses increased significantly to ¥376,684,921.93 from ¥283,988,683.04, reflecting a growth of approximately 32.6%[33] - The company’s management expenses rose to ¥310,835,820.78 from ¥262,907,438.54, indicating an increase of about 18.2%[33] - The tax expenses decreased slightly to ¥40,195,408.96 from ¥43,488,467.82, a reduction of approximately 7.4%[37] Other Financial Metrics - The weighted average return on net assets decreased by 0.5 percentage points to 3.11%[8] - The company reported a basic earnings per share of RMB 0.1141, up 3.07% from the previous year[8] - Basic earnings per share improved to ¥0.2782 from ¥0.2596, an increase of about 7.0%[39] - The company's cash and cash equivalents decreased to RMB 2,074,053,827.41 from RMB 3,135,514,679.82, a decline of about 33.8%[25] - Accounts receivable stood at RMB 2,055,999,236.04, slightly down from RMB 2,057,454,427.39 in 2020, showing a decrease of approximately 0.1%[25] - Inventory increased to RMB 1,490,501,956.10 from RMB 1,087,858,199.86, marking a rise of about 37.0%[25] - The company paid $1.62 billion in debt repayments, slightly increasing from $1.58 billion last year[43] - The company reported a total of $227.59 million in taxes paid, up from $177.59 million in the previous period[43] - Cash inflow from investment activities was $489.27 million, a significant increase from $28.77 million last year[43] - The company experienced a negative impact of -$2.58 million from foreign exchange fluctuations on cash and cash equivalents[43]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥6,435,826,791.35, representing a 36.55% increase compared to ¥4,713,069,658.64 in the same period last year[23]. - Net profit attributable to shareholders of the listed company was ¥330,212,638.26, up 22.51% from ¥269,529,150.64 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥307,999,511.65, reflecting a 33.06% increase from ¥231,479,431.99 in the same period last year[23]. - Basic earnings per share for the first half of 2021 were ¥0.1641, a 10.21% increase compared to ¥0.1489 in the same period last year[26]. - The company achieved a total business revenue of CNY 6.44 billion, representing a year-on-year growth of 36.55%[69]. - The net profit attributable to the parent company was CNY 330 million, with a year-on-year increase of 22.51%[60]. - The company reported a net profit for the first half of 2021 of ¥328,131,984.70, representing a 22.6% increase compared to ¥267,654,613.30 in the first half of 2020[168]. Cash Flow and Assets - The company's net cash flow from operating activities was -¥488,988,064.09, a significant decrease compared to ¥228,517,312.90 in the previous year, marking a decline of 313.98%[23]. - The company's cash and cash equivalents decreased to ¥2,225,337,677.28 from ¥3,135,514,679.82, representing a decline of approximately 29.0%[152]. - Cash flow from operating activities showed a net outflow of ¥488,988,064.09, down from a net inflow of ¥228,517,312.90 in the first half of 2020[179]. - The ending balance of cash and cash equivalents was ¥669,927,930.78, slightly up from ¥629,749,635.89 at the end of the previous year[181]. - The company's total assets at the end of the reporting period were ¥16,825,093,409.05, which is a 6.19% increase from ¥15,843,935,032.64 at the end of the previous year[23]. - Current assets totaled ¥12,564,331,274.92, slightly up from ¥12,407,014,582.89, indicating a growth of about 1.3%[152]. Investments and R&D - The company has invested over 2 billion yuan in R&D over the past 8 years, establishing a strong technical foundation and receiving multiple national and provincial awards for technological advancements[54]. - The company invested CNY 265 million in R&D expenses, which is a 50.15% increase compared to the previous year[69]. - Research and development expenses for the first half of 2021 were ¥265,280,570.06, a significant increase from ¥176,678,177.95 in the same period of 2020, reflecting a 50.1% rise[164]. Market Position and Strategy - The company is transitioning from a subcontractor in steel structure engineering to an EPC (Engineering, Procurement, and Construction) contractor, enhancing its position in the industry and improving pricing power[37]. - The company aims to maintain a new construction area of prefabricated buildings at over 30% of total new construction by 2025, as outlined in regional government plans[39]. - The EPC model is being promoted as an effective investment control and project management approach, with government policies encouraging its adoption in prefabricated buildings[42]. - The company has developed the Green Building System (GBS), which can reduce construction waste by 90% and save 80% of water during manufacturing and installation[99]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[7]. - The construction industry faces a labor supply shortage, with the number of workers in the sector decreasing by 3.2% compared to 2019, highlighting the need for mechanized solutions like steel structures[52]. - The company closely monitors macroeconomic conditions and adjusts its operational strategies accordingly to mitigate risks associated with economic cycles and government policies[84]. Corporate Governance and Shareholder Information - The company has appointed new executives, including Zhang Lei as Vice President and Li Dong as Co-President, to strengthen its leadership team[91]. - The total number of ordinary shareholders as of the end of the reporting period is 133,520[133]. - The top ten shareholders hold a total of 300,000,000 shares, representing 14.90% of the total shares[134]. - The largest shareholder, Jinggong Holding Group (Zhejiang) Investment Co., Ltd., has pledged 200,000,000 shares[134]. Mergers and Acquisitions - The company completed the merger with Zhejiang Jinggong International Steel Structure Engineering Co., Ltd. in April 2021, leading to retrospective adjustments in financial statements[27]. - The company has purchased 100% equity of Zhejiang Jinggong International Steel Structure Engineering Co., Ltd. for 122.55 million RMB to acquire land necessary for factory expansion[111].

2021 年第一季度报告 公司代码：600496 公司简称：精工钢构 长江精工钢结构（集团）股份有限公司 2021 年第一季度报告 1 / 24 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2021 年第一季度报告 单位：元 币种：人民币 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 公司负责人方朝阳、主管会计工作负责人齐三六及会计机构负责人（会计主管人员）潘娜保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-------------------------------------------------|--- ...

Financial Performance - The company's operating revenue for 2020 was CNY 11,484,018,588.4, representing a 12.20% increase compared to CNY 10,235,446,133.0 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 7,648,111,426.73, a significant increase of 60.69% from CNY 5,403,318,634.81 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 591,755,525.34, which is a 61.39% increase from CNY 366,670,335.03 in 2019[23]. - The net cash flow from operating activities was CNY 424,101,478.15, showing a decrease of 22.33% compared to CNY 546,011,756.92 in 2019[23]. - Basic earnings per share (EPS) rose by 54.89% to CNY 0.3451 in 2020 compared to CNY 0.2228 in 2019[25]. - The weighted average return on net assets increased by 3.11 percentage points to 11.03% in 2020[25]. - Operating income for the fourth quarter of 2020 was approximately CNY 3.72 billion, with a net profit attributable to shareholders of CNY 159.57 million[26]. - The company reported a cash flow from operating activities of approximately CNY 252.31 million in 2020[30]. - Non-recurring gains and losses amounted to approximately CNY 56.36 million in 2020, compared to CNY 36.65 million in 2019[32]. - Revenue for the reporting period reached 11.484 billion yuan, an increase of 12.20% year-on-year, while net profit rose to 648 million yuan, reflecting a significant growth of 60.69%[64]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares, totaling CNY 60,386,230.47 for the year 2020[6]. - The company plans to distribute at least 30% of the average distributable profit over the last three years in cash dividends during profitable years[134]. - In 2020, the company distributed cash dividends amounting to 60,386,230.47 RMB, representing 9.32% of the net profit attributable to ordinary shareholders[135]. - The company has committed to maintaining a cash dividend policy that prioritizes cash distributions when conditions allow, ensuring shareholder interests are protected[131]. Business Operations and Strategy - The company’s main business includes steel structure engineering and complete building products, with a focus on integrated design, manufacturing, and installation services[35]. - The company is transitioning from a steel structure subcontractor to an EPC (Engineering, Procurement, and Construction) contractor, enhancing its position in the industry and improving pricing power and cash flow[39]. - The company has developed the Green Building System (GBS) with a maximum assembly rate of 95% for prefabricated buildings[35]. - The product system is categorized into public buildings, industrial products, and residential products, with public buildings further divided into customized and standardized products[38]. - The company aims to enhance its core competitiveness through technology innovation and has established a group expert committee to track industry trends[120]. - The company is initiating a digital transformation, focusing on parameterized design and automated production[123]. - The company is promoting prefabricated buildings and integrating information technology into construction processes to improve efficiency and sustainability[118]. - The company’s strategic plan includes transitioning to a comprehensive service provider in the steel structure construction industry[119]. Market and Industry Trends - In 2020, the total area of newly started prefabricated buildings reached 630 million square meters, a 50% increase from 2019, accounting for approximately 20.5% of new construction area[42]. - The proportion of prefabricated steel structure buildings among newly started prefabricated buildings was 30.2%, totaling 190 million square meters, which represents a 46% increase from 2019[44]. - The government has implemented policies to promote the EPC model, with local regulations established in all 31 provinces and regions in mainland China[41]. - The construction industry is a key player in carbon reduction, with the goal of achieving carbon peak by 2030 and carbon neutrality by 2060, necessitating a shift towards green building practices[45]. - Steel structure market penetration is currently low, with only 7.4% of national steel production used in construction, compared to an average of 30% in developed countries[46]. - The steel structure industry in China is rapidly growing, but competition in the low-end market is expected to intensify, potentially impacting profitability[128]. Research and Development - The company invested over 2 billion yuan in R&D over the past 8 years, the highest in the steel structure industry, and received 6 national science and technology progress awards[55]. - The company has developed a digital green construction technology that was included in the National Green Technology Promotion Catalog (2020)[61]. - The company has established two national-level post-doctoral research stations to enhance high-end research talent recruitment[70]. - The company’s R&D expenses increased by 9.98% to 442.68 million RMB, reflecting its commitment to innovation[76]. - Research and development expenses totaled 442,676,227.23, representing 3.85% of operating income, with a 9.98% increase compared to the previous period[89][91]. Client and Market Presence - The company has a strong client base, including major clients like Apple, Alibaba, and Huawei, with high customer retention rates[57]. - The company achieved a total of 439 new business contracts with a business value of 18.368 billion yuan, representing a year-on-year growth of 31%[64]. - The company secured new orders worth 5.636 billion yuan in EPC and prefabricated construction, marking a year-on-year increase of 103%[65]. - The proportion of EPC and prefabricated orders in total orders increased from 20% in 2019 to 31% in the reporting period[65]. - The company has expanded its market presence into new regions, including Lishui City in Zhejiang Province and Zhangye City in Gansu Province[65]. Financial Position and Assets - The net assets attributable to shareholders of the listed company increased by 29.66% year-on-year, reaching approximately CNY 6.83 billion at the end of 2020[25]. - Total assets grew by 14.84% year-on-year, amounting to approximately CNY 15.81 billion at the end of 2020[25]. - The company’s cash and cash equivalents increased by 54.04% to 3,135,465,062.85, primarily due to a directed stock issuance[93]. - The company’s contract assets reached 4,768,723,939.56, accounting for 30.16% of total assets[93]. - The company’s total liabilities decreased by 12.60% compared to the previous period[82]. Corporate Governance and Compliance - The company has maintained a standard unqualified audit report from its accounting firm, Zhonghua Certified Public Accountants[5]. - The company has no major litigation or arbitration matters during the reporting period[147]. - The company has no significant accounting errors or corrections during the reporting period[145]. - The company has not faced any risks of suspension or termination of listing[145][147]. - The company has implemented new revenue recognition standards starting January 1, 2020, affecting financial reporting and contract asset/liability presentation[141]. Shareholder Information - The company issued 202,429,149 new shares in August 2020, increasing the total shares to 2,012,874,349[170]. - The top ten shareholders held a total of 300 million shares, representing 14.90% of the company, with significant pledges on their shares[181]. - The company reported a decrease in the number of shareholders, indicating potential consolidation among investors[180]. - The company’s equity structure remains stable with no new priority shareholders reported[180]. - The largest shareholder, Seiko Holdings Group Co., Ltd., holds 237,069,604 shares of common stock[183]. Social Responsibility - The company donated CNY 515,000 for poverty alleviation through scholarships and donations[160]. - The company plans to continue supporting poverty alleviation initiatives in the future[162].

2020 年第三季度报告 公司代码：600496 公司简称：精工钢构 长江精工钢结构（集团）股份有限公司 2020 年第三季度报告 1/28 2020 年第三季度报告 一、 重要提示 二、 公司基本情况. 三、 重要事项 四、 附录 目录 2/28 2020 年第三季度报告 单位：元币种：人民币 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 公司负责人方朝阳、主管会计工作负责人齐三六及会计机构负责人（会计主管人员）潘娜保 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、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|------------------------------|------------------------------------|-- ...

Financial Performance - The company's operating revenue for the first half of 2020 was approximately RMB 4.71 billion, a 0.94% increase compared to RMB 4.67 billion in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached approximately RMB 270.20 million, representing a 48.42% increase from RMB 182.05 million year-on-year[21]. - The net cash flow from operating activities was approximately RMB 228.52 million, a significant increase of 1,392.82% compared to RMB 15.31 million in the previous year[21]. - The total assets of the company at the end of the reporting period were approximately RMB 14.45 billion, up 4.98% from RMB 13.77 billion at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased to approximately RMB 5.52 billion, a 4.80% rise from RMB 5.26 billion at the end of the previous year[21]. - The basic earnings per share for the first half of 2020 were RMB 0.1492, an increase of 48.31% compared to RMB 0.1006 in the same period last year[21]. - The diluted earnings per share also stood at RMB 0.1492, reflecting the same growth rate of 48.31% year-on-year[21]. - The weighted average return on net assets increased to 5.02%, up by 1.36 percentage points from 3.66% in the previous year[24]. - The company reported a significant increase in the net profit after deducting non-recurring gains and losses, reaching approximately RMB 232.15 million, a 42.79% increase from RMB 162.58 million year-on-year[21]. - The company’s gross margin improved to 17.1%, an increase of 1.4 percentage points year-on-year, while the net profit margin reached 5.7%, up 1.8 percentage points[35]. Market Position and Strategy - The company is transitioning from a steel structure subcontractor to an EPC (Engineering, Procurement, and Construction) contractor, enhancing its position in the industry and improving pricing power and cash flow[27]. - The market penetration rate of steel structures in the construction industry remains low, with only 7.4% of steel production being used for steel structures compared to an average of 30% in developed countries[30]. - The government aims for prefabricated buildings to account for 30% of new construction area within ten years, with a target of 15% by 2020, indicating significant growth potential in the prefabricated building market[30]. - The company is focusing on high-end brand positioning and high-end clients, which has strengthened its brand recognition and reputation in the steel structure industry[30]. - The company is actively involved in the development of smart construction technologies, including the integration of BIM and IoT in its projects[30]. - The company has a diversified subsidiary structure, including 29 subsidiaries across various regions, enhancing its market presence[159]. - The company is engaged in the production and sale of lightweight and high-rise steel structure products, indicating a focus on innovative construction solutions[158]. - The company is involved in international bidding projects, which may contribute to future revenue growth[158]. - The company has a long-term operational license for overseas steel structure projects, indicating a commitment to international expansion[158]. Project and Contract Achievements - The company has undertaken 108 projects in the super high-rise building sector, including the world's tallest building, the Jeddah Tower, and significant projects in the sports center and airport sectors[30]. - The company has completed major projects for tech giants like Tencent and Alibaba, showcasing its capabilities in modern logistics and data center construction[30]. - The company achieved a total contract amount of 9.97 billion yuan, a year-on-year increase of 11.4%, with 6.02 billion yuan in Q2 alone, representing a quarter-on-quarter growth of 52.41% and a year-on-year growth of 53.35%[35]. - The company secured 39.2 billion yuan in prefabricated integrated business contracts, an increase of 11.43 billion yuan or 41.17% compared to the total for 2019[38]. Financial Management and Investments - The company plans to invest 50 million yuan to establish a wholly-owned subsidiary, aiming to transform its information technology system from a cost center to a profit center[38]. - The company has invested CNY 3,000,000 in Shaanxi Construction High-tech Investment Co., holding a 15% equity stake[47]. - The total bank credit limit as of June 30, 2020, is CNY 4.1985 billion, with CNY 3.257 billion utilized and CNY 0.9415 billion remaining[90]. - The company issued bonds raising CNY 600 million, with CNY 395 million allocated for repaying bank loans and the remainder for working capital[84]. - The company completed the payment of the "15 Jinggong Bond" on July 29, 2020, and the bond was delisted[82]. Operational Efficiency and Cost Management - The company has seen improvements in profitability and cash flow as it shifts to a comprehensive service provider in the construction industry[27]. - Steel costs accounted for approximately 50% of operating costs during the reporting period, highlighting the company's exposure to raw material price volatility[51]. - The company is transitioning to prefabricated construction and EPC service models, reducing steel cost sensitivity to 5-10% of total costs, enhancing profitability[54]. - The company’s R&D expenses decreased by 3.23% year-on-year, reflecting improved operational efficiency[39]. Shareholder and Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[6]. - The company has not encountered any major litigation or arbitration matters during the reporting period[60]. - The company has renewed the appointment of Zhonghua Accounting Firm for the 2020 annual audit[60]. - The company has no significant related party transactions that were not disclosed in temporary announcements[63]. - As of the end of the reporting period, the total number of common shareholders was 114,324[74]. - The largest shareholder, Jinggong Holding Group (Zhejiang) Investment Co., Ltd., holds 300,000,000 shares, accounting for 16.57% of total shares[74]. - The second-largest shareholder, Jinggong Holding Group Co., Ltd., holds 237,069,604 shares, representing 13.09% of total shares[76]. Accounting Policies and Financial Reporting - The company implemented a new revenue recognition policy effective from January 1, 2020, in accordance with the Ministry of Finance's requirements, which will not significantly impact financial status or cash flow[71]. - The company reported no significant accounting errors that required retrospective restatement during the reporting period[71]. - The company has not experienced any significant changes in accounting policies or estimates compared to the previous accounting period[71]. - The financial statements are prepared based on the principle of going concern, reflecting the company's financial position and operating results accurately[165]. - The accounting period for the company runs from January 1 to December 31 each year[166]. - The company's functional currency is Renminbi, while overseas subsidiaries use their local currencies for accounting purposes[170]. Risk Management - The company emphasizes the importance of macroeconomic monitoring and innovation to mitigate risks associated with economic cycles and material price fluctuations[51]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income[193]. - The company assesses credit risk at each reporting date to determine if it has significantly increased since initial recognition, leading to different loss provisioning stages[193].

Financial Performance - Operating revenue for the first quarter reached CNY 2,352,022,262.02, a 6.13% increase year-on-year[12] - Net profit attributable to shareholders increased by 20.45% to CNY 127,012,649.46 compared to the same period last year[12] - The company reported a basic earnings per share of CNY 0.0702, up 20.62% year-on-year[12] - The net profit for the current period is 125,846,411.68 RMB, an increase from 105,145,412.16 RMB in the previous period, representing a growth of approximately 19.5%[43] - The total profit for the current period is 136,543,459.29 RMB, compared to 120,609,818.20 RMB in the previous period, indicating an increase of about 13.2%[43] - The operating profit for the current period is 133,623,136.16 RMB, up from 120,395,791.50 RMB, reflecting a growth of approximately 11.0%[43] - The profit attributable to the parent company's shareholders is 127,012,649.46 RMB, an increase from 105,445,408.42 RMB in the previous period, representing a growth of approximately 20.4%[43] Assets and Liabilities - Total assets increased by 2.50% to CNY 14,109,454,684.60 compared to the end of the previous year[12] - Total assets amounted to ¥14,109,454,684.60, up from ¥13,765,301,183.43, showing growth in the asset base[29] - Current liabilities totaled ¥8,417,200,229.41, compared to ¥8,188,084,887.87 in the previous period, indicating an increase in short-term obligations[31] - The company's total equity increased to ¥5,392,226,999.81 from ¥5,282,907,474.06, reflecting a growth in shareholder value[31] - Total liabilities reached CNY 8,482,393,709.37, a decrease of CNY 8,650,392.78 from the previous period[64] - Shareholders' equity totaled CNY 5,282,907,474.06, reflecting a decrease of CNY 17,026,104.79[64] Cash Flow - Net cash flow from operating activities decreased by 10.29% to CNY 252,312,551.54 compared to the previous year[12] - The cash flow from operating activities was positively impacted by a significant increase in other income and government subsidies[22] - Operating cash inflow totaled CNY 2,809,397,371.13, an increase from CNY 2,764,302,515.71 year-over-year[51] - Operating cash outflow amounted to CNY 2,557,084,819.59, compared to CNY 2,483,041,564.54 in the previous year[51] - Cash inflow from financing activities reached CNY 816,662,371.85, significantly higher than CNY 427,000,000.00 in the prior year[53] - Cash outflow from financing activities was CNY 923,115,213.86, compared to CNY 541,609,623.39 in the previous year[53] Income and Expenses - Tax and additional charges increased by 46.38% to CNY 6,774,321.46 compared to the previous period[19] - The company reported a decrease in tax expenses by 30.83% to ¥10,697,047.61, primarily due to additional deductions for high-tech enterprises[22] - Total operating costs for Q1 2020 were CNY 2,217,461,267.30, up from CNY 2,111,166,837.04 in Q1 2019, reflecting a year-over-year increase of 5.0%[40] Shareholder Information - The number of shareholders reached 115,228 by the end of the reporting period[15] Other Income and Impairments - Other income increased by 420.31% to ¥15,784,295.37, primarily due to government subsidies received during the period[22] - Asset impairment losses decreased by 73.50% to ¥3,213,136.55, mainly due to adjustments in financial statement reporting[22] - The company reported a credit impairment loss of 20,132,154.47 RMB for the current period[43] - The company recorded an asset impairment loss of 3,213,136.55 RMB in the current period, compared to 12,125,642.87 RMB in the previous period, indicating a decrease in losses[43] Inventory and Receivables - Long-term receivables increased by 50.76% to CNY 25,015,820.32 compared to the beginning of the year[19] - Inventory decreased significantly to CNY 156,876,914.64 from CNY 544,719,227.67, indicating a reduction of approximately 71.2%[35]

Financial Performance - The company's operating revenue for 2019 was CNY 10,235,446,133.05, representing an increase of 18.59% compared to CNY 8,630,589,403.54 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 403,318,634.81, a significant increase of 125.50% from CNY 178,852,098.96 in the previous year[21] - The net cash flow from operating activities reached CNY 546,011,756.92, a turnaround from a negative cash flow of CNY -234,208,099.56 in 2018, marking a 333.13% improvement[21] - The company's total assets as of the end of 2019 were CNY 13,765,301,183.43, up 3.42% from CNY 13,309,560,833.34 at the end of 2018[21] - The basic earnings per share for 2019 was CNY 0.2228, reflecting a 106.87% increase from CNY 0.1077 in 2018[25] - The weighted average return on net assets for 2019 was 7.92%, an increase of 3.87 percentage points from 4.05% in 2018[25] - The net profit after deducting non-recurring gains and losses was CNY 366,670,335.03, up 145.03% from CNY 149,641,774.25 in 2018[21] - The company achieved a business undertaking amount of 14.042 billion CNY, representing a year-on-year growth of 14.45%[63] - The company's revenue surpassed 10.235 billion CNY, reflecting an 18.59% increase compared to the previous year[63] - Net profit reached 403 million CNY, showing a significant year-on-year growth of 125.50%[63] - The net cash flow from operating activities was 546 million CNY, an increase of 333.13% year-on-year[78] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.23 per share, totaling CNY 41,640,239.60 for the year[6] - The cash dividend amount for 2019 was 41,640,239.60 RMB, with a per-share dividend of 0.23 RMB[136] - The company has established a cash dividend policy, committing to distribute no less than 30% of the average distributable profit over the last three years in cash dividends[135] - The company did not propose a cash profit distribution plan for ordinary shares despite having positive distributable profits[136] Business Model and Strategy - The company is transitioning from a professional subcontracting model to an EPC (Engineering, Procurement, and Construction) model, providing a full industry chain service[35] - The company is actively transitioning from subcontracting to an EPC (Engineering, Procurement, and Construction) model, enhancing its operational efficiency[52] - The company aims for over 30% of new construction area to be prefabricated buildings, with a target of completing over 5 million square meters of steel structure residential buildings[44] - The company aims to become an "industry-recognized leader and internationally competitive steel structure building system integrator" through technology leadership and business model innovation[121] - The company plans to drive growth through dual engines of new and old infrastructure, focusing on traditional sectors like airports and emerging areas such as 5G and renewable energy[122] Market and Industry Insights - The domestic steel structure industry has significant growth potential, with a target to increase steel usage from 50 million tons to over 100 million tons by 2020[39] - The government aims for prefabricated buildings to account for over 15% of new constructions by 2020, with a target of 30% by 2025, indicating strong policy support for the industry[39] - The national policy aims for prefabricated buildings to reach 30% of new construction area by 2025, indicating significant growth potential in the sector[119] Technological Development - The company has developed a green construction integrated system, achieving a high assembly rate of 50-95% across various building types[34] - The company has developed eight major technology systems, including large torsion component technology and large opening roof technology, which are at the world-class level and have been applied in significant projects[46] - The company has developed multiple proprietary innovative technologies, including large-scale bending and torsion component technology and BIM technology, solidifying its competitive edge[55] - The company has established a comprehensive project lifecycle management model, focusing on customer satisfaction and quality competitiveness[60] Awards and Recognition - The company has won one first-class and five second-class National Science Progress Awards, making it the industry leader in scientific achievements[49] - The company has received 12 Zhan Tianyou Engineering Awards and 23 Luban Awards, enhancing its brand reputation in the industry[57] - The company received the National Science and Technology Progress Award, enhancing its brand image and technological leadership in the prefabricated building sector[70] Operational Performance - The company produced 77.26 million tons of steel structures, with a sales volume of 78.01 million tons, reflecting an increase of 11.43% in sales volume[87] - The revenue from the steel structure segment was CNY 9,190,050,417.68, with a year-on-year increase of 12.48%[83] - The revenue from the integrated and EPC segment surged by 177.66%, reaching CNY 768,400,370.83[83] - The gross profit margin improved to 14.73%, up by 1.91 percentage points year-on-year[83] - The gross profit margin for the EPC business increased significantly by 19.50 percentage points to 16.43%[83] Financial Management - The company reported a net cash flow from financing activities of CNY -666,689,094.73, indicating a decrease of 238.88%[82] - The company has a total of ¥99,074,889.95 in other comprehensive income, reflecting a 42.34% increase due to changes in the fair value of equity investments[94] - The total liabilities for the company as of 2019 amounted to CNY 2,050,449,142.43, with a significant portion attributed to borrowings of CNY 1,742,051,298.61[109] Corporate Governance - The actual controller of the company is Fang Chaoyang, who is also the chairman of Jinggong Holding Group and the company itself[181] - The company has a stable management team with extensive experience in the industry, as highlighted in the profiles of key personnel[194] - The company appointed Liu Zhonghua as the Chief Engineer on January 9, 2020, after the resignation of Chen Guodong on January 8, 2020[197] - The company has seen a change in its board members, with Zhang Lei resigning as Vice President on April 7, 2020, and Zhang Quangu and Pan Jiren being appointed as Vice Presidents on the same day[197] Social Responsibility - The company donated a total of RMB 3.3 million for poverty alleviation through scholarships and donations[164] - The company plans to continue its support for targeted poverty alleviation initiatives and charitable causes[166] - The company has established a comprehensive environmental protection system and conducts regular management and supervision of its environmental work[168] - The company has not faced any major litigation or arbitration matters during the reporting period[143]

2019 年第三季度报告 公司代码：600496 公司简称：精工钢构 长江精工钢结构（集团）股份有限公司 2019 年第三季度报告 1 / 27 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2019 年第三季度报告 单位：元 币种：人民币 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 公司负责人方朝阳、主管会计工作负责人齐三六及会计机构负责人（会计主管人员）潘娜保 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、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|------------------------------|--------------------------------- ...