证券代码： 600502 证 券 简 称 ： 安 徽 建 工 编 号 ： 2024-019 安徽建工集团股份有限公司 关于项目中标的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并 对其内容的真实性、准确性和完整性承担法律责任。 近日，本公司及本公司所属子公司安徽水利开发有限公司、安徽建工建设投资集团 有限公司、安徽建工路港建设集团有限公司收到项目中标通知书。具体情况公告如下： 一、房山区主要沟道治理工程 中标人：北京城建集团有限责任公司（牵头人）与安徽水利开发有限公司、北京大 禹城源工程建设有限公司联合体 项目概况：该项目位于北京市房山区，项目建设内容包括土方、拆除、河道、跌水、 道路、桥梁、绿化工程等。 中标价：22.16 亿元 工期：502 日历天 二、大石河整治提升工程 中标人：北京城建集团有限责任公司（牵头人）与安徽水利开发有限公司、北京大 禹城源工程建设有限公司联合体 项目概况：该项目位于北京市房山区，项目建设内容包括土方、河道、跌水、建筑 物、市政道路、市政桥梁、绿化、设备及安装、临时工程等。 中标价：17.46 亿元 工期：666 日历天 三、拒马河整治 ...

证券代码：600502 证券简称：安徽建工 编号：2024-018 安徽建工集团股份有限公司 关于 2023 年度业绩暨现金分红说明会召开情况的公告 2024 年 4 月 16 日（星期二）下午 14：00～15：00，公司副董事长、总经理李有 贵先生，独立董事鲁炜先生、盛明泉先生、汪金兰女士，董事会秘书、财务总监徐亮 先生共同出席了 2023 年度业绩暨现金分红说明会，与投资者进行互动交流和沟通， 并就投资者普遍关注的问题进行了回答。 二、投资者提出的主要问题及公司回复情况 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 2024 年 4 月 16 日（星期二）下午 14：00～15：00，安徽建工集团股份有限公司 （以下简称"公司"）通过上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/）召开了 2023 年度业绩暨现金分红说明会，现将活 动情况公告如下： 一、业绩说明会召开情况 公司于 2024 年 4 月 9 日在上海证券交易所网站(www.sse.com.cn)和《中国证券 ...

证券代码：600502 证券简称：安徽建工 公告编号：2024-017 安徽建工集团股份有限公司 安徽建工集团股份有限公司（以下简称"公司"）已于 2024 年 3 月 27 日发布 公司 2023 年年度报告，为便于广大投资者更全面深入地了解公司 2023 年度经营 成果、财务状况和现金分红情况，公司计划于 2024 年 04 月 16 日下午 14:00-15:00 举行 2023 年度业绩暨现金分红说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩暨现金分红说明会以网络互动形式召开，公司将针对 2023 年度的经 营成果、财务指标及现金分红的具体情况与投资者进行互动交流和沟通，在信息 披露允许的范围内就投资者普遍关注的问题进行回答。 关于召开 2023 年度业绩暨现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2024 年 04 月 16 日(星期二) 下午 14:00-15:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roads ...

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Investment Rating - The report maintains a rating of "Buy" for the company, with a target price of 7.50, indicating a potential upside from the current price of 4.95 [8][10]. Core Views - The company is transitioning from a traditional construction model to an integrated business model that combines investment, construction, and operation, aiming to increase the proportion of non-construction business [8][10]. - The company's net profit for 2023 is expected to grow by 13%, with significant improvement in operating cash flow [8][10]. - Revenue for 2023 is projected to reach 912 billion, reflecting a 14% increase year-on-year [8][10]. Summary by Sections Financial Performance - The company reported a net profit of 1,553 million for 2023, a 13% increase compared to the previous year [8][10]. - The gross profit margin improved to 11.67%, an increase of 0.49 percentage points [8][10]. - The company achieved new signed contracts worth 1,511 billion in 2023, marking a 14% increase [8][10]. Future Projections - For 2024, the company aims to achieve revenue of 975 billion, representing a growth rate of 6.9% [8][10]. - The earnings per share (EPS) forecast for 2024 is set at 1.04, with a projected increase to 1.34 by 2026 [8][10]. Market Position - The company is positioned as a leading state-owned enterprise in the construction industry, with a focus on infrastructure and real estate development [8][10]. - The report highlights the company's strong order backlog and its competitive advantage in local markets [8][10].

Financial Performance - The company's operating revenue for 2023 reached ¥91.24 billion, an increase of 13.88% compared to ¥80.12 billion in 2022[24] - Net profit attributable to shareholders was ¥1.55 billion, reflecting a growth of 12.57% from ¥1.38 billion in the previous year[24] - The net profit after deducting non-recurring gains and losses was ¥1.42 billion, up by 7.72% from ¥1.32 billion in 2022[24] - The net cash flow from operating activities was ¥3.67 billion, a significant recovery from a negative cash flow of ¥782.75 million in 2022[24] - Total assets at the end of 2023 amounted to ¥171.08 billion, representing a 14.77% increase from ¥149.06 billion in 2022[25] - The company's net assets attributable to shareholders decreased by 4.5% to ¥12.47 billion from ¥13.06 billion at the end of 2022[24] - The company's basic earnings per share for 2023 increased to 0.91 yuan, a 13.75% rise compared to 0.80 yuan in 2022[51] - The total profit reached 2.630 billion yuan, up 14.19% year-on-year, while net profit was 2.058 billion yuan, reflecting a 12.29% increase[29] Revenue Breakdown - In Q4 2023, the operating revenue was ¥31.31 billion, contributing to a total of ¥91.24 billion for the year[26] - The engineering construction business generated revenue of 71.64 billion RMB, a 15.92% increase from the previous year[135] - The real estate development segment reported revenue of 7.15 billion RMB, down 5.79% year-on-year, with a gross margin of 8.04%[136] - Revenue from the prefabricated building division reached 1.011 billion CNY, with a total profit of 0.101 billion CNY[72] - The company achieved a revenue of 1.56 billion CNY from hydropower operations, with a total profit of 0.54 billion CNY in 2023[78] - The company's revenue from other businesses was ¥2,586,005,121.60, up from ¥1,984,572,365.86 in the previous year[140] Investment and Financing - The company successfully issued 1.9 billion yuan in medium-term notes, 500 million yuan in short-term debt, and 1.58 billion yuan in asset-backed securities, effectively reducing funding costs[32] - The company reported a net cash outflow from investing activities of ¥4,624,667,124.92, compared to ¥2,812,688,230.60 in the previous year[139] - Financing activities generated a cash inflow of ¥2,118,607,465.54, down 66.65% from ¥6,352,483,948.13[139] - The company issued new bonds amounting to CNY 2,000,000,000.00, a 233.33% increase compared to the previous year[162] Research and Development - The company has over 290 invention patents and has received more than 70 provincial and ministerial-level science and technology progress awards[111] - R&D expenses increased to ¥1,839,039,460.44, up 24.73% from ¥1,474,463,938.78[139] - The total R&D expenditure for the period was CNY 1,839,039,460.44, accounting for 2.02% of operating revenue[147] - The company has 2,517 R&D personnel, representing 13.83% of the total workforce[159] Market and Business Development - The company is focusing on expanding its prefabricated construction projects and enhancing its smart manufacturing capabilities[9] - The total new contracts signed for engineering construction business reached 151.07 billion yuan, reflecting a year-on-year growth of 13.81%[59] - The company has established five regional market development and investment centers across North China, Central China, South China, East China, and Southwest China[59] - The company aims for prefabricated buildings to account for 40% of new urban construction by 2030, with specific regional targets set for 2025[65] Environmental and Social Responsibility - The company is actively developing clean energy, with successful operations of its invested hydropower and photovoltaic power stations[84] - The company invested 714.87 million yuan in public welfare projects, benefiting 6,625 people, with 409.58 million yuan allocated for purchasing agricultural products for consumption assistance[175] - The company has established a management system for pollution control, including measures for wastewater, dust, noise, and soil protection[169] - The company is committed to promoting green construction and sustainable development throughout the entire lifecycle of its projects[171] Legal and Compliance Issues - The company is involved in multiple construction contract disputes, with amounts ranging from 3,147.13 million to 16,242.5 million CNY[186] - The largest ongoing dispute involves a claim of 16,242.5 million CNY against two real estate development companies[186] - The company has successfully executed a judgment for 6,028.20 million CNY in a previous case, with the amount fully collected[186] - The company has disclosed its litigation status in multiple announcements on the Shanghai Stock Exchange[186]

Investment Rating - The investment rating for the company is "Buy" and it is maintained [3][4]. Core Viewpoints - The company has shown steady growth in performance, with a significant increase in new orders, which provides a solid foundation for future growth [8][9]. - The traditional core business is growing steadily, while new business integrations are continuously gaining momentum [2][3]. - The company's profitability has slightly improved, and it has demonstrated good cost control capabilities [3][10]. - The company is expected to benefit from the acceleration of urban village renovations, enhancing its overall profitability [8][9]. Financial Performance Summary - In 2023, the company achieved operating revenue of 91.24 billion yuan, a year-on-year increase of 13.88%, and a net profit attributable to the parent company of 1.55 billion yuan, up 12.57% year-on-year [8][11]. - The gross profit margin for 2023 was 12.4%, an increase of 0.77 percentage points year-on-year [10]. - The company’s new signed orders increased by 14% year-on-year, indicating a robust order backlog [8][9]. - The company’s cash dividend for 2023 was 446 million yuan, with a dividend payout ratio of 28.73%, resulting in a dividend yield of 5.25% as of March 26 [8]. Business Segmentation - **Construction Business**: In 2023, the company’s revenue from housing construction and infrastructure was 32 billion yuan and 39.6 billion yuan, respectively, with year-on-year growth of 27.2% and 8.1% [9]. - **Real Estate Development**: The company’s revenue from residential sales was 7.15 billion yuan, a decrease of 5.79% year-on-year, with a total sales area of 625,800 square meters [9]. - **New Business**: Other business segments generated revenue of 9.87 billion yuan, a year-on-year increase of 12.9% [9]. Financial Ratios and Projections - The company’s projected net profit for 2024 and 2025 is 1.81 billion yuan and 2.09 billion yuan, respectively, reflecting year-on-year growth rates of 16.4% and 15.5% [10][11]. - The company’s price-to-earnings (P/E) ratio is currently at 5.24, which is relatively low compared to historical levels [11].

本报告仅供 Choice 东方财富 使用，请勿传阅。 新签订单较快增长，新兴业务未来可期 装配式建筑快速发展，检测业务高速增长。公司大力发展装配 式建筑，拥有合肥、蚌埠、芜湖、铜陵、六安等 7 个装配式生产 基地，产品品类覆盖 PC 构件、轨道交通管片、桥梁钢结构、建筑 钢结构、管桩、模具等，打造集设计、生产、施工一体化的装配 式建筑企业。2023 年公司装配式业务新签合同额 20.78 亿元，同 比增长 23.47%；实现营业收入 16.21 亿元，利润总额 1.43 亿元。 同时，公司加大检测业务整合力度，2023 年完成了系统内 8 户检 测子公司整合，组建了安徽建工检测科技集团有限公司，2023 年 新签合同额 8.3 亿元（含公司内部订单），同比增长 33.8%；实现 营业收入 7.05 亿元，利润总额 1.79 亿元。 股价表现 -23% -13% -3% 7% 17% 安徽建工 沪深300 | --- | --- | |------------------------------------------|------------| | 相关报告 \nQ3 业绩高增订单优化，现金 | 2023-1 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook based on expected performance relative to market indices [22][26]. Core Insights - The company reported a revenue of 91.244 billion yuan for 2023, reflecting a year-on-year growth of 13.88%, and a net profit attributable to shareholders of 1.553 billion yuan, up 12.57% year-on-year [7][8]. - The company plans to distribute a cash dividend of 446 million yuan, corresponding to a dividend payout ratio of 28.73%, which translates to a dividend yield of 5.3% based on the closing price on March 26 [8]. - The company is expected to benefit from the ongoing integration of the Yangtze River Delta region and accelerated water conservancy construction in Anhui, leveraging its extensive experience in the water conservancy sector [6][30]. Financial Performance Summary - For the fiscal year 2023, the company achieved a gross profit margin of 12.44%, which is a slight increase of 0.77 percentage points year-on-year [16]. - The company’s new orders totaled 151.1 billion yuan for the year, marking a year-on-year increase of 13.81%, with infrastructure orders growing by 18.3% [15][25]. - The operating cash flow improved significantly, with a net inflow of 3.671 billion yuan in 2023, compared to a net outflow of 780 million yuan in 2022 [17][27]. Earnings Forecast - The earnings per share (EPS) are projected to be 1.07 yuan for 2024, 1.26 yuan for 2025, and 1.43 yuan for 2026, with corresponding price-to-earnings (PE) ratios of 4.6, 3.9, and 3.5 respectively based on the closing price on March 26 [26][31].