Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company's revenue and profit are under pressure, but the dividend payout ratio has increased [2] - The company is expected to face challenges due to local government debt management and the downturn in the real estate sector, leading to a downward revision of profit forecasts for 2025-2026 [7] - Despite these challenges, the company is positioned to benefit from market expansion and increased concentration in the industry, particularly in Anhui province [7] Financial Summary - Total revenue for 2023 is projected at 91,244 million, with a year-on-year growth rate of 13.9% [6] - The net profit attributable to the parent company for 2024 is expected to be 1,345 million, a decrease of 13.4% compared to the previous year [7] - The company plans to distribute a cash dividend of 1.9 yuan per 10 shares for 2024, which represents 34.46% of the net profit attributable to the parent company, an increase of 5.73 percentage points from 2023 [7] - The operating cash flow for 2024 is expected to be 12.15 billion, a decrease of 24.56 billion year-on-year [7] - The company's asset-liability ratio is projected to be 86.5% at the end of 2024, an increase of 0.56 percentage points from the end of 2023 [7] Business Performance - The construction business is expected to achieve a revenue of 763.44 billion in 2024, with a year-on-year growth of 6.57% and a gross margin of 10.38% [7] - The real estate development business is projected to generate a revenue of 65.19 billion in 2024, a decrease of 8.85% year-on-year [7] - The company is focusing on quality improvement in its operations amidst the pressures from local government debt and the real estate sector downturn [7]

3月28日，安徽建工（600502）发布2024年年报，公司实现营业收入965.02亿元，同比增长5.76%；归母 净利润13.45亿元，同比下降13.43%；扣非净利润12.58亿元，同比下降11.55%。尽管公司在市场开拓和 转型发展方面取得了一定进展，但净利润的显著下滑暴露了其在成本控制和盈利能力上的问题。 市场开拓与合同增长：表面繁荣下的隐忧 2024年，安徽建工在工程施工业务方面新签合同1550.77亿元，同比增长2.65%。公司实施了全省、全 国、全产业链和全球的战略布局，设立了18个省外分公司，重点开发京津冀、长三角等市场。然而，尽 管合同金额有所增长，但净利润的下降表明公司在项目执行过程中可能面临成本超支或利润率下降的问 题。 此外，公司在高速公路、新能源和智能制造等新兴产业的投资布局也取得了显著进展。2024年新中标10 条高速公路BOT投资项目，建工智能制造六安、芜湖基地(二期)建成投产，建工新能源新增运营合肥长 丰、肥东分布式光伏电站。然而，这些新兴业务的盈利能力尚未充分体现，短期内难以弥补传统业务的 下滑。 成本控制与盈利能力：亟待提升的关键环节 安徽建工在2024年的净利润下滑13. ...

安徽建工集团股份有限公司 证券代码：600502 证 券 简 称 ：安 徽 建 工 编号：2025-016 第九届监事会第四次会议决议公告 本公司监事会及全体监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。 2.公司 2024 年年度报告的内容和格式符合中国证监会和上海证券交易所的各项 规定，所包含的信息能从各个方面真实地反映出公司当年度的经营管理和财务状况等 事项； 3.监事会在提出本意见前，未发现参与公司 2024 年年度报告编制和审议的人员 有违反保密规定的行为。 表决结果：5 票同意，0 票反对，0 票弃权，本项议案获得表决通过。 （二）审议通过了《2024 年度监事会工作报告》。 一、监事会会议召开情况 安徽建工集团股份有限公司第九届监事会第四次会议于 2025 年 3 月 27 日上午， 在合肥市安建国际大厦公司会议室以现场方式召开。会议应出席监事 5 人，实际出席 5 人。会议由公司监事会主席徐文联先生主持。本次会议的召开符合《公司法》和《公 司章程》的规定。 二、监事会会议审议情况 （一）审议通过了《2024 年年度报告》全文及摘 ...

证券代码：600502 证 券 简 称 ：安 徽 建 工 编号 ：2025-015 安徽建工集团股份有限公司 第九届董事会第六次会议决议公告 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。 一、董事会会议召开情况 安徽建工集团股份有限公司第九届董事会第六次会议于 2025 年 3 月 27 日上午， 在合肥市安建国际大厦公司会议室以现场结合视频方式召开。会议应出席董事 7 人， 实际出席董事 7 人，其中董事长杨善斌先生、独立董事王潇女士以视频方式参加。公 司全体监事和部分高管列席会议。会议由公司副董事长、总经理李有贵先生主持。本 次会议的召开符合《公司法》和《公司章程》的规定。 二、董事会会议审议情况 经与会董事书面表决，会议形成如下决议： （一）审议通过了《2024 年年度报告》全文及摘要，具体内容详见上海证券交 易所网站 http://www.sse.com.cn。 该报告中的相关财务信息已经公司董事会审计委员会事前审议通过。 本议案尚须提交股东大会审议。 表决结果：7 票同意，0 票反对，0 票弃权，本项议案获得表决通 ...

证券代码：600502 证 券 简 称 ：安 徽 建 工 编号 ：2025-017 安徽建工集团股份有限公司 关于 2024 年年度利润分配方案的公告 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： 每股分配比例：每 10 股派发现金红利 1.9 元(含税)，不送红股，资本公积金 不转增股本。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日期将 在权益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发生变动 的，公司拟维持每股分配比例不变，相应调整分配总额，并将在相关公告中披露。 公司于 2025 年 3 月 6 日召开第九届董事会第五次会议审议通过了《关于分红 方案的议案》，并经 2025 年第一次临时股东大会批准，拟向全体股东每 10 股派发现 金红利 0.8 元（含税），该方案实施的利润分配为公司 2024 年度利润分配的一部分。 综合两次利润分配，公司 2024 年度合计将向全体股东每 10 股派发现金红利 2.7 元（含税）。 公司未触及《上海证券交易所股票上市规则（2024 ...

RSM 容诚 内部控制审计报告 容诚审字[2025]230Z1430 号 安徽建工集团股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我 们审计了安徽建工集团股份有限公司（以下简称"安徽建工"）2024 年 12 月 31 日 的财务报告内部控制的有效性。 内部控制审计报告 安徽建工集团股份有限公司 容诚审字[2025]230Z1430 号 容诚会计师事务所 (特殊普通合伙) 中国 · 北京 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mcf.gov.cn）"进行管理 "我 四、财务报告内部控制审计意见 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部 控制评价指引》的规定,建立健全和有效实施内部控制，并评价其有效性是安徽 建工董事会的责任。 二、注册会计师的责任 我们认为，安徽建工于 2024 年 12 月 31 日按照《企业内部控制基本规范》和 相关规定在所有重大方面保持了有效的财务报告内部控制。 （此页无正文，为安徽建工容诚审字[2025]230Z1430 号内部控制审计报告之 签字盖 ...

RSM 容诚 审计报告 安徽建工集团股份有限公司 容诚审字[2025]230Z1429 号 容诚会计师事务所 (特殊普通合伙) 中国 · 北京 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进行查 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进行查 。 | 序号 | 内 容 | 页码 | | --- | --- | --- | | l | 审计报告 | 1-7 | | 2 | 合并资产负债表 | 8 | | 3 | 合并利润表 | 9 | | 4 | 合并现金流量表 | 10 | | 5 | 合并所有者权益变动表 | 11 | | 6 | 母公司资产负债表 | 12 | | 7 | 母公司利润表 | 13 | | 8 | 母公司现金流量表 | 14 | | 9 | 母公司所有者权益变动表 | ાર | | 10 | 财务报表附注 | 16-204 | 审计 报告 容诚审字[2025]230Z1429 号 安徽建工集团股份有限公司全体股东: 一、审计意见 我们审计了安徽建工集团股份有限公司(以下 ...

安徽建工集团股份有限公司2024年度独立董事述职报告 二、独立董事年度履职情况 （一）出席股东大会、董事会情况 独立董事 盛明泉 2024 年度，本人任安徽建工集团股份有限公司（以下简称"公司"）第八届、 第九届董事会独立董事，并任董事会审计委员会主任委员、薪酬与考核委员会委员。 本人严格按照《公司法》《证券法》《上市公司独立董事管理办法》等法律法规和《公 司章程》的有关规定，履职期间忠实勤勉、恪尽职守，在增强董事会运作规范性和有 效性、提高公司治理水平和透明度、强化财务报告审计监督等方面积极履职，切实维 护公司整体利益和中小股东合法权益。现将 2024 年有关履职情况报告如下： 一、独立董事的基本情况 （一）独立董事简介 盛明泉，男，中国国籍，1963 年生，天津财经大学会计学博士，南开大学工商 管理博士后，享受国务院特殊津贴。曾任安徽财经大学科研处处长、会计学院院长、 中国会计学会理事。现任安徽财经大学学术委员会副主任委员、二级教授、博士生导 师，中国商业会计学会常务理事，安徽安凯汽车股份有限公司独立董事，凯盛科技股 份有限公司独立董事，本公司独立董事。 （二）是否存在影响独立性的情况 经自查，本人不存在 ...

Financial Performance - The company achieved operating revenue of RMB 96.50 billion in 2024, a year-on-year increase of 5.76%[21]. - Net profit attributable to shareholders was RMB 1.34 billion, representing a decrease of 13.43% compared to the previous year[21]. - The company reported a significant decline in cash flow from operating activities, totaling RMB 1.21 billion, down 66.91% year-on-year[21]. - The total assets of the company reached RMB 201.98 billion, an increase of 18.06% from the previous year[21]. - The basic earnings per share decreased to RMB 0.78, down 14.29% compared to 2023[22]. - Total operating revenue increased by 5.76% to approximately 96.50 billion RMB, while operating costs rose by 5.81% to approximately 84.54 billion RMB[57]. - The gross margin for construction increased to 10.38%, up 0.64 percentage points year-on-year, with the gross margin for infrastructure and investment rising to 11.20%[53]. - The gross margin for the real estate segment decreased by 0.64 percentage points to 7.40%, with a corresponding decrease in revenue and cost[60]. - The company reported a significant increase in financing cash flow, which rose by 421.65% to approximately 11.052 billion RMB, indicating strong capital raising efforts[57]. Dividend Distribution - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares, totaling 137.32 million CNY, which is part of the 2024 profit distribution plan[6]. - For the 2024 fiscal year, the total cash dividend will be 2.7 CNY per 10 shares, amounting to 463.46 million CNY, representing 34.46% of the net profit attributable to shareholders[6]. - The cumulative cash dividend amount over the last three accounting years is 1,338.90 million RMB, with a cash dividend ratio of 93.88%[157]. - The company has not made any changes to its profit distribution policy during the reporting period[152]. Market Expansion and Contracts - The company signed new contracts worth RMB 155.08 billion in engineering construction, a growth of 2.65% year-on-year[28]. - The company has signed new contracts worth 20.16 billion yuan in the prefabricated construction sector for 2024, representing a year-on-year growth of 64.84%[41]. - The intelligent manufacturing segment has achieved new contract values of 30.87 billion yuan in 2024, marking a significant year-on-year increase of 196.02%[42]. - The company has established 18 new branches outside the province to enhance market coverage[28]. - The company plans to continue expanding its market presence and investing in new projects to drive future growth[57]. Research and Development - The company's R&D expenses for 2024 are expected to increase by 16.62% year-on-year, with a focus on innovation and collaboration with several universities[30]. - Research and development expenses increased by 16.62% to approximately 2.145 billion RMB, indicating a focus on innovation and technology development[57]. - Total R&D expenses amounted to 2,144,623,740.66 yuan, which is 2.22% of the operating revenue[65]. - The company employed 2,469 R&D personnel, making up 13.86% of the total workforce[66]. Safety and Quality Management - The company has implemented a quality control system that has not experienced significant quality issues throughout the year[86]. - The company has created 5 national construction project safety standardization sites, 11 in East China, and 89 provincial-level safety standardization demonstration sites in 2024, with no major safety incidents reported[90]. - The company has established a comprehensive safety management system, including safety production committees and dedicated safety management personnel across all subsidiaries and project departments[89]. - The company is committed to improving safety and quality management systems to mitigate risks associated with construction projects[114]. Legal and Compliance Issues - The company has reported a lawsuit involving a construction contract dispute with a claim amount of 40.98 million yuan, with a judgment requiring payment of 7.92 million yuan plus interest[184]. - The company has faced another lawsuit regarding a construction contract dispute with a claim amount of 43.17 million yuan, which was dismissed in the first instance[184]. - The company has not encountered any significant litigation or arbitration matters during the reporting period[182]. - The company has a structured approach to handling litigation and arbitration, reflecting its commitment to financial recovery and risk management[185]. - The company is actively managing its legal disputes, with multiple cases resulting in favorable outcomes and full recoveries[185]. Environmental and Social Responsibility - The company achieved an annual electricity generation of 730 million kilowatt-hours from its seven hydropower stations, reducing CO2 emissions by approximately 730,000 tons[168]. - The company actively implemented carbon reduction measures, successfully reducing carbon emissions by 739,500 tons through the use of clean energy and low-carbon technologies[169]. - The company has invested a total of 756.79 million yuan in social responsibility projects, benefiting 6,230 individuals through targeted assistance and agricultural product procurement[173]. - A total of 175 million yuan has been invested in poverty alleviation and rural revitalization projects, benefiting 2,129 individuals through various support measures[174]. Future Outlook and Strategic Goals - The company plans to achieve a revenue of 100 billion CNY in 2025, representing a year-on-year growth of 3.62%[107]. - The profit target for 2025 is set at 2.75 billion CNY, with a year-on-year increase of 3.72%[107]. - The company aims to expand its market presence by focusing on provincial and national markets while also exploring overseas opportunities, particularly along the "Belt and Road" initiative[108]. - The company is committed to risk management by enhancing contract management and compliance to mitigate legal disputes and operational risks[111]. Corporate Governance - The company has established a performance evaluation and incentive mechanism for senior management to ensure transparency and compliance in its operations[118]. - The company has revised its information disclosure management system to ensure compliance and effectiveness in information disclosure, fulfilling obligations accurately and timely[119]. - The company has committed to maintaining transparency and communication with stakeholders, ensuring their rights are protected[119]. - The company has a structured process for approving the remuneration of its directors and senior management, which involves multiple levels of review[133].

安徽建工集团 912 ANHUI CONSTRUCTION ENGINEERING GROUP 环境、社会和公司治理 (ESG)报告 ENVIRONMENTAL,SOCIAL AND GOVERNANCE REPORT ACEG E HITT 日 日 A - IN l 报告说明 前言 Preface 报告说明 报告范围 本报告公示了安徽建工集团股份有限公司及所属企业履行环境、社会和公司治理等方面责 任的信息。典型案例均来自公司及所属企业。报告时间跨度为2024年1月1日至12月31日， 适当关注了2024年以前公司履行社会责任的情况。 称谓说明 为便于您的阅读，安徽建工集团股份有限公司在本报告中以"安徽建工""公司""我 们"等方式进行表述。 报告周期 本报告以年度为周期，按年度发布。 数据说明 报告披露的财务数据来自公司财务报告,如与公司年度报告有出入,以年度报告为准,其 他数据来自公司内部统计。 参考标准 本报告根据国家标准GB/T36001-2015《社会责任报告编写指南》，并参照国务院国资委《 关于中央企业履行社会责任的指导意见》《关于国有企业更好履行社会责任的指导意见》、 中国社会科学院《中国企业可 ...