Financial Performance - Net profit attributable to the parent company in 2021 was RMB 120,219,808.65, with a 10% statutory surplus reserve of RMB 12,021,980.86 deducted[2] - Revenue for 2022 was RMB 5,840,770,305.89, a decrease of 15.66% compared to 2021[8] - Net profit attributable to shareholders in 2022 was RMB 16,511,733.35, a sharp decline of 97.99% compared to 2021[8] - Basic earnings per share in 2022 were RMB 0.01, down 98.04% from RMB 0.51 in 2021[9] - Weighted average return on equity (ROE) in 2022 was 0.27%, a significant drop of 14.15 percentage points from 14.42% in 2021[9] - Total operating revenue for 2022 was 5,806,372,444.15 RMB, a decrease of 15.68% year-over-year, with a gross margin of 12.78%, down by 6.48 percentage points[28] - Real estate development revenue was 818,999,259.31 RMB, a decrease of 44.49% year-over-year, with a gross margin of 39.60%, down by 12.55 percentage points[28] - Net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 285,169,543.84[106] - Operating cash flow for the year was RMB 16,511,733.35[106] - Revenue for the reporting period was RMB 5.84 billion, a decrease of 15.66% year-on-year[118] - Operating cash flow decreased by 61.01% to RMB 285.17 million[118] - Investment cash flow was negative RMB 1.18 billion, compared to positive RMB 174.48 million in the previous year[118] - Financing cash flow increased by 70.66% to RMB 311.36 million[118] - R&D expenses decreased by 20.01% to RMB 198.96 million[118] - Revenue for the reporting period was 5,840,770,305.89 yuan, a decrease of 15.66% year-on-year, primarily due to a significant reduction in real estate sales from the Tengda Center project[124] - Operating profit was 131,920,375.21 yuan, a decrease of 87.07% year-on-year, mainly due to a floating loss of 376 million yuan from securities investment trust plans[124] - Net profit attributable to shareholders was 16,511,733.35 yuan, a decrease of 97.99% year-on-year, driven by the same securities investment losses and reduced real estate sales profits[124] - Gross margin for the construction business was 7.79%, a decrease of 2 percentage points year-on-year, while the real estate development business saw a gross margin increase of 12.55 percentage points to 39.60%[127] - Total R&D investment was 198,958,850.5 yuan, accounting for 3.41% of total revenue[133] - Construction costs decreased by 5.89% year-on-year to 4,531,425,264.53 yuan, reflecting reduced project volumes[128] - Real estate development costs decreased by 29.94% year-on-year to 494,637,346.02 yuan, due to lower sales volumes[128] - Financial expenses increased by 730.96% year-on-year to 18,850,138.36 yuan, driven by increased interest expenses from trust financing[132] - Revenue decreased by 15.65% to 5,840,770,305.89 as most real estate sales from Tengda Center occurred in 2021[142] - Operating costs decreased by 8.96% to 5,081,002,885.13 due to reduced real estate sales costs[142] - Net profit attributable to parent company owners for the current period was 16,511,733.35 RMB[150] - Total operating income for the current period was 5,840,770,305.89 RMB, with a cost of 5,081,002,885.13 RMB[151] - Revenue from contracts with customers was 5,809,507,094.57 RMB, with a cost of 5,067,401,620.12 RMB[151] - The difference between operating income and revenue from contracts with customers was 31,263,211.32 RMB, attributed to rental income[152] - Domestic revenue reached 5,809,507,094.57 RMB, accounting for a significant portion of the total revenue[164] - Construction engineering revenue contributed 4,838,918,350.58 RMB to the total revenue[164] - Real estate sales revenue amounted to 885,097,157.60 RMB[164] - The company's total revenue for the year was 6,888,381,287.18 RMB[164] - The company's land value-added tax expense was 104,747,035.24 RMB[165] - The company's total tax expenses for the year were 128,483,679.00 RMB[165] - The company's urban maintenance and construction tax expense was 7,952,861.43 RMB[165] - The company's education surcharge expense was 3,514,419.09 RMB[165] - The company's property tax expense was 5,812,564.42 RMB[165] - The company's stamp duty expense was 3,281,011.60 RMB[165] - Sales expenses decreased to RMB 10,271,050.51 from RMB 17,921,676.75, a reduction of 42.7%[166] - Marketing and advertising expenses dropped to RMB 4,767,968.64 from RMB 5,586,358.10, a decrease of 14.6%[166] - Employee compensation in sales expenses fell to RMB 3,914,386.27 from RMB 8,040,626.27, a decline of 51.3%[166] - R&D direct input costs decreased to RMB 149,217,992.52 from RMB 198,510,148.08, a reduction of 24.8%[168] - R&D employee compensation dropped to RMB 38,269,516.65 from RMB 48,306,829.31, a decrease of 20.8%[168] - Total financial expenses increased to RMB 18,850,138.36 from a negative RMB 2,987,529.82, primarily due to higher interest expenses[171] - Interest expenses rose to RMB 50,912,524.28 from RMB 30,013,705.20, an increase of 69.6%[171] - Government subsidies related to income surged to RMB 36,496,001.90 from RMB 4,119,954.17, an increase of 786.1%[173] - Total other income increased to RMB 36,696,411.51 from RMB 4,191,370.88, a rise of 775.5%[173] - Depreciation and amortization expenses increased to RMB 9,510,202.73 from RMB 922,582.75, a significant rise of 930.8%[169] - The company incurred a total impairment loss of RMB 36,575,791.18 in 2022, compared to RMB 47,769,008.91 in the previous year, with significant losses in contract asset impairment (RMB 28,312,724.08) and investment property impairment (RMB 1,681,660.30)[185][186] - Non-current asset disposal loss amounted to 6,943.99 RMB, compared to 892,278.71 RMB in the previous period[200] - Non-current asset disposal gains totaled 78,642.18 RMB, all of which were included in non-recurring gains and losses[200] - Compensation income was 22,062.00 RMB, down from 347,975.90 RMB in the previous period[200] - Other non-recurring gains and losses amounted to 438,824.10 RMB, a significant increase from 13,260.02 RMB in the previous period[200] - Total non-recurring gains and losses for the period were 712,600.29 RMB, up from 361,235.92 RMB in the previous period[200] Cash Flow and Dividends - Cash dividends of RMB 0.20 per share (tax included) were distributed in 2021, totaling RMB 31,644,772.18 (tax included)[2] - Net cash flow from operating activities in 2022 was RMB 285.17 million, a decrease of 61.01% compared to RMB 731.47 million in 2021[15] - Net cash flow from operating activities was 285,169,543.84 RMB, a decrease of 61.01% year-over-year, primarily due to reduced cash inflows from real estate sales[33] - Net cash flow from financing activities was 311,361,444.28 RMB, an increase of 70.66% year-over-year, driven by increased priority financing from trust plans[33] - The company's investment in securities and collective trust plans increased, resulting in a net cash outflow of 1,184,669,860.91 RMB from investing activities[33] - Cash dividend policy: At least 30% of the average distributable profit over three years will be distributed in cash if conditions are met[85] Assets and Liabilities - Total assets at the end of 2022 were RMB 11.27 billion, a decrease of 2.49% compared to RMB 11.56 billion at the end of 2021[15] - Restricted assets at the end of the reporting period amounted to 27,323,013.26 RMB, including 15,550,295.08 RMB in restricted funds and 2,000,000 RMB in guarantee deposits[44] - Total assets increased by 13.26% to 1,495,316,967.19 due to new securities market investments[137] - Accounts receivable increased by 26.81% to 2,021,740,784.11 due to increased receivables from construction projects[137] - Inventory decreased by 32.82% to 1,898,392,384.67 due to reduced real estate sales inventory[137] - Long-term receivables decreased by 43.07% to 114,260,659.18 due to repayments from the Taizhou Coastal Expressway project[137] - Prepaid expenses increased by 42.27% to 4,638,834.12 due to new decoration fees[137] - Deferred tax liabilities decreased by 100% to 0 due to unrealized losses on certain investments[137] - Capital surplus (share premium) remained unchanged at 2,250,802,531.17 RMB[147] - Other capital surplus remained unchanged at 1,740,254.23 RMB[147] - Statutory surplus reserve increased by 14,125,029.41 RMB to 205,046,946.02 RMB[149] - Adjusted beginning retained earnings increased to 1,924,454,861.88 RMB from 1,195,913,748.54 RMB[150] Business Operations and Projects - The company's main business models are single construction mode and financing construction mode, with financing construction mode including BT and PPP models[22] - The company has obtained the special-grade qualification for municipal public works construction, enhancing its competitiveness in high-tech projects[19] - The company has been recognized as a high-tech enterprise, qualifying for national tax incentives and reflecting its R&D management capabilities[19] - The company's construction business is significantly influenced by fixed asset investment, particularly in infrastructure and real estate development[20] - The company had 103 projects under construction with a total value of 289.91 billion RMB, including 12.15 billion RMB for projects not yet started and 94.03 billion RMB for ongoing projects[39] - The company signed 18 new projects during the reporting period, with a total value of 343,831.93 million RMB[36] - The company's total order backlog at the end of the reporting period was 289.91 billion RMB, with 68,880.65 million RMB in the housing construction sector[37][39] - The company holds 29 subsidiaries, including 16 wholly-owned subsidiaries, 5 controlled subsidiaries, 3 joint ventures, and 5 equity investments[40] - The company's subsidiary, Huihao Investment, controls the Shaanxi International Trust·Jucai 2 and 3 securities investment trust plans, which are included in the consolidated financial statements[47] - The company's real estate development subsidiary in Yichun, Jiangxi, reported total assets of 38.588 billion yuan and net profit of 8.059 billion yuan[49] - The company's commercial operation subsidiary in Kunming reported a net loss of 1.560 billion yuan[49] - The company's real estate development subsidiary in Taizhou, Zhejiang, reported total assets of 92.736 billion yuan and net profit of 73.205 billion yuan[49] - The company's investment management subsidiary in Shanghai reported total assets of 2.335 billion yuan and net profit of 1.162 billion yuan[49] - The company's investment partnership in Shanghai reported total assets of 1.046 billion yuan and net profit of 812 million yuan[49] - The company's investment partnership in Shanghai reported total assets of 12.663 billion yuan and net profit of 12.663 billion yuan[49] - The company's coastal highway subsidiary in Zhejiang reported total assets of 1.889 trillion yuan and net profit of 562.234 billion yuan[49] - The company's investment subsidiary in Ningbo reported total assets of 885 million yuan and net profit of 885 million yuan[49] - The company's investment subsidiary in Ningbo reported total assets of 72.258 billion yuan and net profit of 7.238 billion yuan[49] - The company's total assets for the "聚财3号证券投资集合资金信托计划" amounted to 69.27764 million, with a net loss of 11.1908 million[52] - 台州银行股份有限公司 reported total assets of 37.18550255 billion, with a net profit of 425.21166 million[52] - The company invested 146,400,000.00 in Taizhou Coastal Expressway Co., Ltd., holding a 1.83% stake[138] - The company invested 25,000,000.00 in Pingtan Fengshi Hengda Investment Management, holding a 99.80% stake[138] - Total order amount at the end of 2022 was approximately RMB 28.991 billion, with RMB 1.215 billion in contracts signed but not yet started, and RMB 9.403 billion in ongoing projects[91] - New contract awards in Q1 2023 increased by 31.67% year-on-year, indicating significant growth in business volume[91] - The company has 22 large-scale ongoing projects, requiring retained earnings for operational liquidity and project progress[91] Corporate Governance and Compliance - The company's stock is listed on the Shanghai Stock Exchange with the ticker symbol 600512[13] - The company's 2022 annual report received a standard unqualified audit opinion from Tianjian Certified Public Accountants[23] - The company held 8 board meetings and 8 supervisory board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[69] - The company strictly enforced the "Insider Information Registration System" and reported no insider trading incidents during the reporting period[70] - The total actual remuneration obtained by all directors, supervisors, and senior management at the end of the reporting period was 16.1677 million yuan[74] - The company held its 2021 annual general meeting on May 20, 2022, and passed resolutions including the 2021 financial report and profit distribution plan[71] - The company held its first interim shareholders' meeting in 2022 on November 28, 2022, and passed resolutions including the election of new directors and supervisors[71] - The company's board of directors held 27 meetings in 2022, passing resolutions on financial reports, profit distribution, and board elections[76][77] - The company's board of directors approved the use of idle raised funds to supplement working capital in June and July 2022[77] - The company's board of directors approved the 2022 semi-annual report and the special report on the storage and use of raised funds on August 26, 2022[77] - The company's board of directors approved the 2022 third-quarter report on October 28, 2022[77] - The company's board of directors approved the election of the 10th board of directors and the adjustment of independent director allowances on November 10, 2022[77] - The company's 10th board of directors held its first meeting on November 28, 2022, and approved the election of the chairman, vice chairman, and other senior management positions[77] - The company's board of directors approved the 2022 annual report and the special report on the storage and use of raised funds on April 27, 2022[76] - Audit Committee held 5 meetings in 2022, focusing on annual reports, internal controls, and financial audits[80] - Nomination Committee held 2 meetings in 2022, reviewing qualifications of board candidates and senior management[81] - Compensation and Evaluation Committee held 2 meetings in 2022, reviewing 2021 executive compensation and 2022 incentive plans[83] - Board of Directors held 8 meetings in 2022, with 5 via teleconference and 3 combining in-person and teleconference[78] - No objections or risks were raised by the Board of Directors or Supervisory Committee during the reporting period[79][84] Executive Compensation - The company's Chairman, Ye Gangjun, received a pre-tax remuneration of 1.5838 million yuan in 2022[64] - The company's Vice Chairman and President, Yang Jiuru, received a pre-tax remuneration of 1.4321 million yuan in 2022[64] - The company's Vice President and Chief Engineer, Sun Jiuchun, received a pre-tax remuneration of 1.1947 million yuan in 2022[64] - The company's Audit Director received a pre-tax remuneration of 432,000 yuan in 2022[64] - Total compensation for departing executives amounted to 181,933,617, with a total of 1,616.77 in related figures[66] Risk Management - The company faces macroeconomic volatility risks due to its cyclical nature in the construction industry, which is closely tied to economic conditions and government infrastructure investment[61] - The company is exposed to industrial policy risks as the construction sector in China

股票代码：600512 股票简称：腾达建设 公告编号：临 2023-012 腾达建设集团股份有限公司 关于召开 2022 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： 腾达建设集团股份有限公司（以下简称"公司"）将于 2023 年 4 月 15 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了 解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 04 月 20 日下午 15:00-16:00 举行 2022 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。 会议召开时间：2023 年 04 月 20 日(星期四) 下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 13 日(星期四) 至 04 月 19 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集" 栏目或 ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,264,204,346.52, representing a decrease of 5.22% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY -139,431,316.1, a decline of 173.36% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 88,723,390.61, down 46.92% from the previous year[5]. - Total operating revenue for the first three quarters of 2022 was approximately ¥4.38 billion, a decrease of 7.3% compared to ¥4.72 billion in the same period of 2021[20]. - Net profit for the third quarter of 2022 was approximately -¥106.76 million, a significant decline from a net profit of ¥786.99 million in the same quarter of 2021[21]. - Net profit for the first three quarters of 2022 was ¥29,081,412.02, a decrease of 78.5% from ¥135,089,508.94 in the first three quarters of 2021[31]. - The total profit for the first three quarters of 2022 was ¥24,807,115.51, a significant decrease from ¥145,945,882.75 in the same period of 2021[31]. Cash Flow - The cash flow from operating activities for the year-to-date was CNY 247,541,084.4, a decrease of 25.22%[6]. - The net cash flow from operating activities for Q3 2022 was CNY 247,541,084.43, a decrease of 25.2% compared to CNY 331,035,463.51 in Q3 2021[25]. - Cash inflow from operating activities for the first three quarters of 2022 was approximately ¥4.37 billion, down from ¥4.98 billion in the same period of 2021[24]. - The net cash flow from operating activities was ¥562,726,767.99, up from ¥526,910,425.87 in the same period last year, indicating a 6.5% increase[33]. - The net cash outflow from investing activities was ¥425,984,521.84, compared to a net inflow of ¥48,212,472.64 in the same period of 2021[33]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,777,154,856, down 6.79% from the end of the previous year[6]. - As of September 30, 2022, the company's total assets amounted to approximately RMB 10.78 billion, a decrease from RMB 11.56 billion at the end of 2021, reflecting a decline of about 6.8%[14]. - The company's current assets totaled approximately RMB 7.72 billion, down from RMB 8.45 billion at the end of 2021, indicating a decrease of around 8.6%[14]. - The company's total liabilities were approximately RMB 7.72 billion, with accounts payable at RMB 2.44 billion, down from RMB 2.52 billion, reflecting a decrease of about 3.5%[16]. - Total liabilities as of the end of the third quarter of 2022 amounted to approximately ¥4.96 billion, a decrease from ¥5.64 billion at the end of the previous year[17]. - The total liabilities as of September 30, 2022, were CNY 3,958,707,143.98, compared to CNY 3,882,373,995.96 at the end of 2021[28]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 83,390[12]. - Total equity attributable to shareholders was approximately ¥5.87 billion, down from ¥6.04 billion in the previous year[17]. Operational Metrics - The basic earnings per share for the current period was CNY -0.09, a drop of 175.00% compared to the same period last year[6]. - The basic and diluted earnings per share for the third quarter of 2022 was -¥0.11 for the third quarter of 2022, compared to ¥0.49 in the same quarter of 2021[22]. - The basic earnings per share for the first three quarters of 2022 was ¥0.02, down from ¥0.08 in the same period of 2021[31]. Investment and R&D - The company reported a significant loss in investment income, with a loss of approximately ¥57.19 million in the first three quarters of 2022 compared to a gain of ¥413.86 million in the same period of 2021[20]. - Research and development expenses decreased to ¥133,632,628.55, down 29.1% from ¥188,344,996.57 in the previous year[30]. - The company incurred a credit impairment loss of ¥25,466,977.93, contrasting with a gain of ¥64,836,326.81 in the previous year[30]. Other Financial Metrics - The weighted average return on equity was -2.35%, a decrease of 178.60 basis points year-on-year[6]. - The company reported a significant reduction in contract liabilities, which fell to RMB 550.20 million from RMB 1.34 billion, a decrease of approximately 58.9%[16]. - Long-term equity investments increased to RMB 1.36 billion from RMB 1.29 billion, indicating a growth of about 5.3%[16]. - The company's financial expenses showed a net income of -¥20,742,023.04, compared to -¥17,022,785.14 in the previous year, indicating an increase in financial costs[30].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,111,493,225.44, representing a decrease of 8.10% compared to CNY 3,385,769,183.58 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 35,724,423.7, a decline of 106.00% from a profit of CNY 595,012,013.62 in the previous year[19]. - The net cash flow from operating activities was CNY 40,218,240.27, down 88.81% from CNY 359,548,452.37 in the same period last year[19]. - The basic earnings per share for the first half of 2022 was -CNY 0.02, compared to CNY 0.37 in the same period last year[20]. - The weighted average return on net assets was -0.59%, down from 11.11% in the previous year[20]. - The company reported a decrease of 65.78% in net profit after deducting non-recurring gains and losses, with a figure of CNY 196,479,877.22 compared to CNY 574,239,867.63 last year[19]. - Operating profit fell to CNY 109 million, down CNY 602 million or 84.65% year-on-year, mainly due to reduced profits from real estate sales and losses in the secondary securities market[32]. - The company reported a net profit attributable to shareholders of CNY -36 million, a decrease of CNY 631 million compared to the previous year[32]. - The company reported a net profit margin of 0.06% for its investment management operations, indicating a need for improved efficiency[16]. - The company reported a net loss attributable to shareholders of CNY -35,724,423.7 in the first half of 2022, contrasting with a profit of CNY 595,012,013.62 in the same period of 2021[108]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 10,829,586,962.38, a decrease of 6.34% from CNY 11,562,696,187.26 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 6,028,245,543.65, a slight decrease of 0.20% from CNY 6,040,158,168.86 at the end of the previous year[19]. - Total assets decreased by 26.83% to CNY 2,232,456,094.92 from CNY 3,051,018,586.77[38]. - The company's total liabilities decreased from RMB 5,643,959,462.24 to RMB 4,858,968,715.22, reflecting a reduction of about 13.91%[101]. - Current assets totaled RMB 7,733,226,469.09, down from RMB 8,445,342,483.01, indicating a decrease of approximately 8.42%[99]. - The company's total equity attributable to shareholders was RMB 6,028,245,543.65, slightly down from RMB 6,040,158,168.86, a decrease of about 0.20%[101]. - The non-current liabilities increased from RMB 507,759,679.16 to RMB 900,474,737.98, reflecting an increase of approximately 77.06%[101]. - The company's contract liabilities decreased from RMB 1,337,103,284.71 to RMB 683,442,453.86, a decline of about 48.92%[100]. Business Operations - The company's main business is construction engineering, accounting for 76.35% of total revenue[24]. - The company has not added new land reserves since 2014, focusing on digesting existing inventory in real estate development[24]. - The company holds various construction qualifications, including special-grade for municipal public engineering and first-grade for highway engineering[25]. - The financing construction contract model, including BT and PPP, allows the company to provide both construction and financing services[26]. - The construction industry is heavily influenced by fixed asset investment, particularly in infrastructure and real estate development[26]. - The company has improved its net assets and new contract capabilities significantly after two rounds of private placements[27]. - The company has been recognized as a high-tech enterprise, which provides tax benefits and enhances its competitiveness for high-difficulty projects[27]. - The company has received multiple awards for engineering quality, including the "Zhan Tianyou Award" and "Lichun Award"[28]. - The construction industry is currently in a mature stage with intense competition and generally low profit margins[27]. - The company aims to strengthen its core business and promote sustainable development by seizing market opportunities[27]. Research and Development - The company established 19 research projects and obtained 31 patents during the reporting period, indicating a strong focus on innovation and technology development[31]. - Research and development expenses increased by 14.40% to CNY 82.8 million, reflecting the company's commitment to improving construction technology[34]. - Research and development expenses rose to CNY 82,803,377.66, an increase of 14.56% compared to CNY 72,378,156.44 in the first half of 2021[106]. Market Presence - The company is actively expanding its market presence, conducting business activities in provinces such as Fujian, Hubei, Sichuan, Chongqing, Jiangxi, and Anhui during the reporting period[31]. - The company is focusing on expanding its market presence in the real estate sector, with a reported revenue of 94,411.80 million, up from 73,222.24 million, indicating a growth of approximately 28.9%[11]. Risk Management - The company has identified macroeconomic fluctuations as a risk factor, which could impact its construction and infrastructure projects[50]. - The firm is facing competitive pressures in expanding its operations outside its home region, particularly in major cities like Shanghai and Hangzhou[50]. - The company acknowledges potential investment risks influenced by national policies, economic conditions, and market competition[52]. - The company is enhancing its risk warning mechanisms to assess the creditworthiness and repayment ability of project buyers comprehensively[51]. - The company is exposed to credit risks related to accounts receivable and is conducting regular credit assessments of trading clients[52]. Environmental Management - The company has established a complete environmental management system to ensure compliance with environmental standards[60]. - The company has implemented measures to manage environmental impacts at project sites, including real-time monitoring systems[60]. Contracts and Bids - The company has ongoing construction contracts exceeding RMB 50 million, including a project with a total price of RMB 864.18 million for the Shanghai East Passage expansion, which is still in progress due to changes in the construction plan[68]. - The company won a bid for the Hangzhou Metro Line 3 construction project with a contract value of RMB 1,190.35 million, which has a duration of 1,584 calendar days[68]. - The company is involved in a joint bid for the "Zhijiang Road Water Supply Pipeline and Road Improvement Project" with a tentative total contract price of RMB 1,727.05 million, with a construction period of 973 calendar days[69]. - The company has a contract for the Taizhou Eastern New District municipal road infrastructure project with a contract value of RMB 1,405.89 million, which is still under construction due to delays caused by the owner's reasons[68]. - The company won the bid for the "G59 Hunan Province Guanzhuang to Xinhua Expressway Project" with a contract value of 821.890515 million RMB and a construction period of 1095 calendar days[71]. - The company secured the "Hangzhou Qianjiang Road Tunnel Extension Project" with a bid amount of 272.933930 million RMB, which is still under construction due to pandemic impacts[71]. - The company was awarded the "Shanghai Rail Transit Airport Link Project" with a contract value of 480.80 million RMB and a construction period of 922 calendar days[71]. - The company won the "Ningbo Rail Transit Line 8 Phase I Construction Project" with a bid amount of 241.05 million RMB and a construction period of 1826 calendar days[73]. - The company secured the "Hangzhou Metro Line 5 Phase II Project" with a contract value of 724.318793 million RMB and a construction period of 921 calendar days[73]. - The company was awarded the "Zhejiang Province Huhang Expressway Wuxing to Deqing Section Project" with a bid amount of 1212.562020 million RMB and a construction period of 941 calendar days[72]. - The company won the bid for the "Shanghai Rail Transit Line 21 Phase I Project" with a contract value of 478.5999999 million RMB and a construction period of 1554 calendar days[75]. - The company secured the "Fuzhou Changle Airport Comprehensive Transportation Hub Project" with a bid amount of 391.093891 million RMB and a construction period of 730 calendar days[75]. - The company was awarded the "Hangzhou Metro Line 9 Phase I Road Restoration Project" with a contract value of 104.195566 million RMB and a construction period of 82 calendar days[76]. - The company won the bid for the "Taizhou Bay Digital Economy Industrial Park Phase I Project" with a contract value of 61.9764 million RMB and a construction period of no more than 450 calendar days[75]. - The company won the bid for the "Hangzhou to Lin'an Intercity Railway Project" with a contract value of 626.52 million RMB and a construction period of 895 calendar days[80]. - The company secured the "Hangzhou Metro Line 6 Phase I Project" with a contract value of 423.80 million RMB and a construction period of 809 calendar days[80]. - The company was awarded the "Ningbo Comprehensive Pipeline Gallery Project" with a contract value of 284.07 million RMB and a construction period of 21 months[81]. - The company won the bid for the "Hangzhou Metro Line 7 Project" with a contract value of 1.00 billion RMB and a construction period of 1068 calendar days[81]. - The company reported a total contract value of 1.17 billion RMB for the first half of 2022, including 430.98 million RMB for the Hangzhou-Fuyang Line project[83]. - The company won the bid for the "Beijing New Airport to Dezhou Expressway" project with a contract value of 810.69 million RMB and a construction period of 19 months[85]. - The company secured the "Hangzhou City Infrastructure Construction Project" with a contract value of 547.16 million RMB and a construction period of 540 calendar days[85]. Shareholder Information - The company reported a total of 91,804 common shareholders as of the end of the reporting period[90]. - The top shareholder, Ye Linfu, holds 132.05 million shares, accounting for 8.26% of the total shares[92]. - The company has not experienced any changes in its total share capital or share structure during the reporting period[89]. Compliance and Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - There are no significant non-operating fund occupation situations by controlling shareholders or related parties[7]. - The company has no significant litigation or arbitration matters during the reporting period[65]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[64]. - The company has no major guarantees or violations during the reporting period[64]. - The company has no significant related transactions that require disclosure during the reporting period[66]. - The company has no major contracts that have not been performed during the reporting period[66]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation, ensuring compliance with accounting standards[138]. - The company has included 23 subsidiaries in its consolidated financial statements, reflecting a broad operational scope[134]. - The company has not reported any significant accounting policy changes or prior period corrections affecting the financial results[138]. - The company classifies joint arrangements into joint operations and joint ventures, recognizing assets and liabilities based on ownership shares[144]. - Cash equivalents are defined as short-term investments that are highly liquid and easily convertible to known amounts of cash, typically maturing within three months from the date of purchase[145]. - Financial assets are classified at initial recognition into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[147]. - Financial liabilities are classified into four categories at initial recognition, including those measured at fair value with changes recognized in profit or loss[147]. - The company uses the effective interest method for subsequent measurement of financial assets measured at amortized cost, with gains or losses recognized in profit or loss upon derecognition or impairment[148]. - For debt instruments measured at fair value with changes recognized in other comprehensive income, interest and impairment losses are recognized in profit or loss, while other gains or losses are recognized in other comprehensive income[148]. - Financial liabilities measured at fair value with changes recognized in profit or loss include trading financial liabilities and derivatives, with changes in fair value recognized in profit or loss[149]. - The company terminates recognition of financial assets when the contractual rights to cash flows have expired or when the asset has been transferred and meets specific criteria[150]. - Financial liabilities are derecognized when the current obligation has been discharged, cancelled, or expired[150]. - The company recognizes the difference between the carrying amount of transferred financial assets and the consideration received as profit or loss for the period when the transfer meets derecognition criteria[151]. - The fair value of financial assets and liabilities is determined using valuation techniques supported by observable market data, categorized into three levels[152]. - Expected credit losses are measured based on the weighted average of credit losses, considering the risk of default[153]. - The company assesses credit risk for financial instruments at each reporting date, determining if there has been a significant increase in credit risk since initial recognition[154]. - The expected credit loss rates for accounts receivable are categorized by aging, with rates ranging from 5% for receivables within one year to 20% for those over three years[156]. - Financial assets and liabilities are presented separately in the balance sheet and are not offset unless specific criteria are met[157]. Inventory and Contract Management - Inventory includes finished goods, work in progress, and materials, with costs recognized based on the percentage of completion method for projects[159]. - The company confirms that if actual costs are lower than budgeted costs, it will review and analyze the actual costs incurred, ensuring compliance with project quality and safety standards[160]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs made when costs exceed net realizable values[161]. - Contract assets are recognized when the company has the right to receive payment for goods or services transferred to customers, contingent on factors other than the passage of time[162]. - The company uses the cost method for long-term equity investments when control is established, adjusting initial investment costs based on the fair value of the acquired assets[167]. - For long-term equity investments, the company applies the equity method for joint ventures and associates, recognizing investment income based on the share of net assets[168]. - Investment properties are initially measured at cost and subsequently measured using the cost model, with depreciation applied similarly to fixed assets[169]. - Fixed assets are recognized when it is probable that future economic benefits will flow to the company and the cost can be reliably measured[170]. - The company will adjust revenue and costs based on contract amendments if actual costs exceed budgeted costs due to external factors[160]. - Provisions for inventory write-downs are calculated based on the estimated selling price minus estimated costs and related taxes[161]. - The company will recognize contract liabilities for obligations to transfer goods for which it has received or is entitled to receive payment[163]. - The company uses the straight-line method for depreciation of general equipment with a depreciation rate of 9.50% to 33.00% over a lifespan of 3 to 10 years[172]. - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets, recognizing other borrowing costs as expenses in the current period[174]. - The company recognizes right-of-use assets for leases, measuring them at cost, which includes initial lease liabilities and direct costs incurred[178]. - The company amortizes intangible assets with a limited useful life over their expected economic benefits, with specific amortization periods such as 20 years for bridge operation rights and 5 years for software[179]. - Internal research and development costs in the research phase are expensed as incurred, while development phase costs can be capitalized if certain criteria are met[180]. - The company assesses long-term assets for impairment if there are indications of impairment, recognizing impairment losses in the current period if recoverable amounts are below carrying values[181]. - Contract liabilities are recognized when the company has received or is entitled to receive consideration from customers for goods or services to be transferred[183]. - Short-term employee benefits are recognized as liabilities and expensed in the period in which the employee provides services[184]. - The company capitalizes borrowing costs during the construction or production of qualifying assets, ceasing capitalization when the asset is ready for use[176]. - The company has a policy for recognizing and measuring employee benefits, including post-employment benefits and termination benefits, based on actuarial assumptions[185]. - The company recognizes revenue from engineering contracts upon completion and acceptance, with revenue confirmed based on the percentage of completion method[193]. - Revenue from real estate sales is recognized when the property is completed, accepted, and control is transferred to the buyer[194]. - The company measures revenue based on the transaction price allocated to each performance obligation, excluding amounts collected on behalf of third parties[197]. - The company confirms revenue from construction material sales when products are delivered and accepted by the customer, with all sales being domestic[198]. - Lease liabilities are initially measured at the present value of future lease payments, including fixed and variable components[190]. - The company assesses and recognizes provisions for obligations such as guarantees and litigation when the amount can be reliably measured[191]. - The company uses the incremental borrowing rate as the discount rate for lease liabilities when the implicit rate cannot be determined[189]. - The company adjusts lease liabilities and corresponding right-of-use assets when there are changes in lease payment amounts or terms[190]. - The company confirms revenue from asset usage rights when it is probable that economic benefits will flow to the company[196]. - The company evaluates contracts to identify performance obligations and determines the timing of revenue recognition based on control transfer[195]. - The company recognizes revenue from the transfer of asset usage rights based on the progress of performance obligations, amortizing the income over the contract period using the straight-line method[199]. - Incremental costs incurred to obtain

Financial Performance - In 2021, the company achieved a total operating revenue of CNY 6,925,157,053.46, representing a 17.31% increase compared to CNY 5,903,418,678.10 in 2020[20]. - The net profit attributable to shareholders of the listed company for 2021 was CNY 820,390,308.83, a 35.1% increase from CNY 607,248,158.86 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 798,193,805.02, which is a significant increase of 199.93% compared to CNY 266,127,385.52 in 2020[20]. - Basic earnings per share for 2021 were CNY 0.51, representing a 34.21% increase from CNY 0.38 in 2020[22]. - The cash flow from operating activities for 2021 was CNY 731,470,906.30, a significant increase of 60.99% compared to CNY 454,368,577.06 in 2020[21]. - The company achieved a weighted average return on equity of 14.42% in 2021, up by 2.24 percentage points from 12.18% in 2020[22]. - The total assets at the end of 2021 reached CNY 11,562,696,187.26, reflecting a growth of 5.83% from CNY 10,925,433,578.67 in 2020[21]. - The total operating cost amounted to ¥5,580,976,274.94, which is an 8.82% increase year-on-year[47]. - The company reported a significant increase in real estate sales, contributing to the rise in revenue and operating income[47]. Dividend Distribution - The company distributed a cash dividend of CNY 0.20 per share (including tax) to shareholders, totaling CNY 31,649,551.80 based on a total share capital of 1,582,477,590 shares[5]. - The retained earnings after the dividend distribution amounted to CNY 944,624,491.79, which will be carried forward to the next fiscal year[5]. - The company's cash dividend policy remains unchanged, distributing at least 30% of the average distributable profit over three years if conditions are met[110]. Market and Business Strategy - The company expanded its market presence by actively participating in large project tenders and deepening cooperation with government and owners across nearly ten provinces in China[30]. - The company is positioned in a mature construction industry with intense competition and low overall profit levels, but it aims to strengthen its core business[33]. - The company aims to enhance market development and optimize market layout and industrial structure in 2022, focusing on deepening traditional markets and exploring new fields[79]. - The company plans to increase R&D investment in key technology areas such as structural engineering, new materials, and digital construction in 2022[80]. Research and Development - The company achieved 8 invention patents and 60 utility model patents during the reporting period, reflecting its commitment to research and development[31]. - Research and development expenses grew by 15.82% to ¥248,735,943.78, indicating a focus on construction technology and methods[41]. - The company employed 430 R&D personnel, making up 12.62% of the total workforce[49]. Risk Management - The company has detailed the risks it faces in the report, which investors should review carefully[7]. - The company faces macroeconomic fluctuation risks, as its main business is closely tied to the economic cycle and government infrastructure spending[81]. - The company is implementing a risk warning mechanism to assess the creditworthiness and repayment ability of project buyers, considering regional economic conditions and government financial strength[82]. - The company regularly evaluates the credit risk associated with accounts receivable and monitors balances to mitigate significant bad debt risks[83]. Corporate Governance - The audit report issued by Tianjian Accounting Firm was a standard unqualified opinion, ensuring the accuracy and completeness of the financial report[4]. - The company has established a robust internal control system and governance structure in compliance with relevant laws and regulations, holding 2 shareholder meetings and 9 board meetings during the reporting period[85][86]. - The company has implemented a strict insider information management system, ensuring no insider trading incidents occurred during the reporting period[87]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 80,354, down from 89,823 at the end of the previous month[157]. - The total number of shares held by the board members at the beginning and end of the reporting period remained unchanged at 181,933,617 shares[91]. - The company completed a share buyback of 16,425,242 shares, accounting for 1.03% of the total share capital[165]. Financial Position - Total current assets increased to ¥8,445,342,483.01 in 2021, up from ¥8,102,663,049.11 in 2020, representing a growth of 4.23%[183]. - Cash and cash equivalents rose to ¥3,051,018,586.77 in 2021, compared to ¥1,925,555,475.30 in 2020, marking an increase of 58.5%[183]. - Total liabilities decreased to ¥5,643,959,462.24 in 2021 from ¥5,755,282,200.66 in 2020, a reduction of 1.94%[185]. - The total owner's equity reached ¥5,918,736,725.02 in 2021, up from ¥5,170,151,378.01 in 2020, representing an increase of 14.4%[185]. Project and Contract Information - The company has ongoing construction contracts with a total value exceeding RMB 500 million, including projects with values of RMB 864.18 million and RMB 910.32 million[134][135]. - The company won the bid for the "Ningbo Hangzhou Bay New Area Xingci Fourth Road Cross Eleven Tang River Bridge Project" with a contract value of RMB 111.12 million and a construction period of 720 calendar days[137]. - The company secured the "Hangzhou Xiaoshan Tongcheng Avenue Expressway Project" with a bid amount of RMB 580.49 million and a service period of 1095 calendar days[137].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,398,744,623.88, representing a decrease of 31.52% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 172,841,896.94, a decline of 142.98% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 85,991,384.08, down 78.29% from the previous year[5] - Basic and diluted earnings per share were both CNY -0.11, reflecting a decline of 144.00% year-on-year[5] - The weighted average return on equity was -2.90%, a decrease of 10.22 percentage points compared to the previous year[5] - The company reported a significant increase in R&D expenses, totaling CNY 47,590,298.82 in Q1 2022, compared to CNY 15,674,392.52 in Q1 2021, representing a growth of 203.5%[18] - The net profit for Q1 2022 was a loss of CNY 170,707,704.58, compared to a profit of CNY 395,368,076.00 in Q1 2021[19] - The total comprehensive income for Q1 2022 was CNY 31,420,921.80, reflecting a significant drop from CNY 82,477,204.23 in Q1 2021[27] Cash Flow and Assets - The net cash flow from operating activities was CNY 41,821,434.95, a decrease of 90.37% compared to the same period last year[5] - Cash inflow from operating activities for Q1 2022 was CNY 2,229,332,863.53, a decrease of 5.3% compared to CNY 2,353,343,208.48 in Q1 2021[21] - Net cash flow from operating activities for Q1 2022 was CNY 41,821,434.95, a significant decline of 90.4% from CNY 434,270,350.99 in Q1 2021[22] - Total cash outflow from investment activities in Q1 2022 was CNY 2,035,216,794.96, compared to CNY 269,420,560.39 in Q1 2021, indicating a substantial increase in investment expenditures[22] - Net cash flow from investment activities for Q1 2022 was -CNY 1,975,032,799.77, worsening from -CNY 265,975,293.52 in Q1 2021[22] - The company's cash and cash equivalents at the end of Q1 2022 were CNY 1,862,401,177.92, a decrease from CNY 1,895,644,741.87 at the end of Q1 2021[22] - The company's cash and cash equivalents balance was CNY 1,459,337,717.98 at the end of Q1 2022, down from CNY 1,205,057,538.03 at the end of Q1 2021[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,040,772,944.35, down 4.51% from the end of the previous year[6] - Total liabilities as of Q1 2022 amounted to CNY 5,283,850,694.54, a slight decrease from CNY 5,643,959,462.24 in the previous year[17] - The company's total equity attributable to shareholders was CNY 5,876,209,501.28, down from CNY 6,040,158,168.86 in the previous year[17] - The total assets as of March 31, 2022, were CNY 9,025,956,948.17, down from CNY 9,370,388,476.29 at the end of 2021[25] - Total liabilities decreased to CNY 3,503,766,315.87 as of March 31, 2022, from CNY 3,882,373,995.96 at the end of 2021[25] Shareholder Information - The company reported a total of 89,823 common shareholders at the end of the reporting period[11] - The top ten shareholders collectively hold 19.67% of the company's shares, with the largest shareholder owning 8.26%[11] - The company has no significant changes in its shareholder structure or related party transactions during the reporting period[11] Operational Insights - The significant decline in revenue and profit was attributed to a substantial decrease in real estate sales during the reporting period[9] - The company plans to focus on improving operational efficiency and exploring new market opportunities to recover from the current downturn[9]

2021 年第三季度报告 证券代码：600512 证券简称：腾达建设 腾达建设集团股份有限公司 2021 年第三季度报告 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个别及连带责任。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 1,333,811,517.14 | -19.62 | 4,719,580,700.72 | ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥3,385,769,183.58, representing a 91.24% increase compared to ¥1,770,431,149.48 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was ¥595,012,013.62, a significant increase of 154.86% from ¥233,462,241.44 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥574,239,867.63, which is a 263.98% increase compared to ¥157,766,944.61 in the same period last year[17]. - The net cash flow from operating activities for the first half of 2021 was ¥359,548,452.37, up 25.08% from ¥287,444,916.02 in the previous year[17]. - The basic earnings per share for the first half of 2021 were ¥0.37, which is a 146.67% increase from ¥0.15 in the same period last year[18]. - The diluted earnings per share also stood at ¥0.37, marking a 146.67% increase compared to the previous year[18]. - The weighted average return on equity increased to 11.11%, up 6.23 percentage points from 4.88% in the previous year[18]. - The company reported a significant increase in the weighted average return on equity after deducting non-recurring gains and losses, reaching 10.49%, up 7.19 percentage points from 3.30% in the previous year[18]. Assets and Liabilities - The total assets at the end of the reporting period were ¥10,770,550,837.44, a decrease of 1.42% from ¥10,925,433,578.67 at the end of the previous year[17]. - The net assets attributable to shareholders increased to ¥5,834,115,967.92, reflecting a growth of 10.17% from ¥5,295,654,567.20 at the end of the previous year[17]. - The company’s total assets at the end of the reporting period were ¥10,770,550,837.44, down from ¥10,925,433,578.67, a decrease of about 1.4%[100]. - Total liabilities decreased to ¥5,061,198,607.55 from ¥5,755,282,200.66, a reduction of approximately 12.1%[100]. - The company reported a decrease in accounts receivable to ¥290,254,530.17 from ¥314,596,649.95, a decline of approximately 7.7%[98]. - Inventory decreased to ¥3,232,978,483.34 from ¥3,473,273,407.77, a decline of about 6.9%[98]. - Contract liabilities decreased by 14.62% to ¥1,667,677,394.27 from ¥1,953,337,918.62[37]. Revenue Sources - The company's main business is construction engineering, accounting for 66.07% of total revenue, with a significant increase in real estate sales revenue compared to the same period last year[22]. - Operating profit reached ¥711,585,500.48, up 161.99% year-on-year, while net profit attributable to shareholders was ¥595,012,013.62, reflecting a 154.86% increase, mainly driven by contributions from the real estate business[32]. - The company reported a significant change in profit sources, with real estate sales contributing 70% to net profit this period, compared to a loss in the same period last year[35]. Market Position and Strategy - The company primarily operates in the East China region, with no current overseas business, focusing on local market expansion[22]. - The financing construction contract model, which includes BT and PPP models, is a key driver of the company's revenue, allowing for upfront project financing[24]. - The company is actively pursuing a "going out" strategy, successfully winning bids for projects in regions such as Hubei and Ningbo during the reporting period[31]. - The company has a strong focus on municipal engineering and has been recognized with multiple awards for project quality, including national and provincial honors[27]. Risk Management - The company faces risks related to macroeconomic fluctuations, which could adversely affect its overall performance due to its reliance on government infrastructure projects[51]. - The company is focusing on enhancing its risk management mechanisms to mitigate credit risks associated with accounts receivable[52]. - The company is exploring multi-channel financing models to reduce financing costs and improve cash flow[52]. - The company acknowledges potential investment risks due to market fluctuations and changes in national policies[53]. Environmental and Compliance - The company has established a comprehensive environmental management system to ensure compliance with environmental standards[60]. - The company is not classified as a key pollutant discharge unit but has implemented measures to manage potential environmental impacts at project sites[60]. - The company has committed to not engaging in competitive activities that could harm its interests as stated in its commitments[63]. Management and Governance - There were changes in management, with Jiang Donghu resigning as Deputy General Manager and Zhao Feng appointed as Audit Deputy Director[57]. - The company has maintained a stable management team with experienced project managers, which is crucial for undertaking complex construction projects[30]. - The company held its annual general meeting on May 7, 2021, where the 2020 financial statements and profit distribution plan were approved[56]. Investment and Development - The company has made progress in research and development, particularly in improving construction technology and addressing challenges in ongoing projects[31]. - The company has a total of 27 enterprises under its control, including 15 wholly-owned subsidiaries[40]. - The company is expanding its investment in structured entities, including the Xiamen Trust - Ju Cai No. 1 Securities Investment Trust Plan, which has a controlled investment of 142,060.79 million[48]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 76,057[88]. - The largest shareholder, Ye Linfu, held 132,047,177 shares, accounting for 8.26% of the total shares[90]. - The second-largest shareholder, Xu Shuang, held 95,692,673 shares, representing 5.98% of the total shares[90]. - The company reported no changes in its total share capital or share structure during the reporting period[87]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations in the next 12 months[133]. - The company adheres to the accounting standards, ensuring that its financial reports accurately reflect its financial position and operating results[135]. - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition based on its operational characteristics[134]. Contracts and Projects - The company has ongoing construction contracts exceeding RMB 50 million, including a contract with Shanghai Pudong Engineering Management Co., totaling RMB 864.18 million, which is still in progress due to changes in the construction plan[66]. - The company won a bid for the Shanghai Metro Line 13 Phase II project with a contract value of RMB 275.18 million, which is delayed due to demolition issues[67]. - The company secured a contract for the Taizhou Tengda Center project valued at RMB 1.191 billion, which is partially completed as of the reporting period[68].

Financial Performance - Net profit attributable to shareholders increased significantly to CNY 402,132,020.65, compared to a loss of CNY 25,439,143.81 in the same period last year[5] - Operating revenue surged by 195.95% to CNY 2,042,508,056.41 from CNY 690,145,946.96 year-on-year[5] - The company's profit margin improved, with net profit attributable to the main business increasing due to higher sales from the Tengda Center real estate project[12] - The company's net profit for Q1 2021 reached CNY 395,368,076.00, compared to a net loss of CNY 29,285,245.47 in Q1 2020, indicating a turnaround in profitability[27] - The total profit for Q1 2021 was CNY 495,654,497.67, compared to a total loss of CNY 20,221,970.87 in Q1 2020[27] Cash Flow - Net cash flow from operating activities reached CNY 434,270,350.99, a substantial increase of 2,031.47% compared to CNY 20,374,248.31 in the previous year[5] - Cash flow from operating activities increased to CNY 2,200,220,043.74 in Q1 2021, compared to CNY 1,584,596,031.95 in Q1 2020, representing a growth of 38.8%[31] - Total cash inflow from operating activities was CNY 1,791,945,997.02, reflecting a 31.3% increase from CNY 1,364,938,179.40 in the previous year[34] - The cash flow from investment activities improved by 42.68%, with a net cash outflow of RMB 265,975,293.52 compared to RMB 464,038,010.88 in the previous year[12] - The net cash flow from investing activities improved to CNY 2,548,455.52 in Q1 2021, compared to a negative CNY 194,778,689.08 in Q1 2020[35] Assets and Liabilities - Total assets decreased by 2.92% to CNY 10,606,850,175.66 compared to the end of the previous year[5] - Current liabilities totaled ¥4,418,517,192.39 as of March 31, 2021, down from ¥5,157,495,771.53 at the end of 2020, a decrease of approximately 14.3%[18] - Total liabilities reached CNY 5,755,282,200.66, with current liabilities at CNY 5,157,495,771.53 and non-current liabilities at CNY 597,786,429.13[39] - Total assets amounted to approximately $8.15 billion, with non-current assets totaling around $2.14 billion[43] - The total liabilities amounted to approximately $2.71 billion, reflecting the company's financial obligations[43] Shareholder Information - The number of shareholders reached 80,272, with the top ten shareholders holding a combined 20.72% of shares[9] - The company's equity attributable to shareholders increased to ¥5,703,225,724.65 from ¥5,295,654,567.20, representing a growth of about 7.7%[19] - Owner's equity stood at approximately $5.45 billion, reflecting a stable financial position[44] Expenses - Research and development expenses decreased by 52.70% to RMB 15,674,392.52, down from RMB 33,134,955.47 in the previous year[12] - The company reported a significant reduction in financial expenses, down 71.63% to RMB 4,176,062.10, due to decreased bank borrowings[12] - The financial expenses for Q1 2021 were CNY 4,176,062.10, down from CNY 14,718,094.28 in Q1 2020, showing a decrease of 71.7%[27] Capital and Investments - The company completed a capital increase of RMB 120 million for its wholly-owned subsidiary, Shanghai Tengda Investment Co., Ltd.[13] - The company has authorized a budget of up to RMB 1.4 billion for land bidding and acquisition over the next 12 months[13] - The company reported investment income of CNY 59,244,334.36 in Q1 2021, an increase from CNY 56,938,489.04 in Q1 2020[27] Other Financial Metrics - The weighted average return on equity improved to 7.32% from -0.55% year-on-year[5] - The company's income tax expenses surged by 1,006.51% to RMB 100,286,421.67, driven by increased profitability from real estate sales[12] - The implementation of the new leasing standard did not have a significant impact on the company's financial position and operating results[40]

Financial Performance - In 2020, the company achieved operating revenue of CNY 5,903,418,678.10, representing a 35.15% increase compared to CNY 4,367,956,951.29 in 2019[20] - The net profit attributable to shareholders of the listed company was CNY 607,248,158.86, up 27.62% from CNY 475,822,979.51 in the previous year[20] - The net profit after deducting non-recurring gains and losses reached CNY 266,127,385.52, a significant increase of 126.70% compared to CNY 117,391,316.14 in 2019[21] - Basic earnings per share increased by 26.67% to CNY 0.38 in 2020 compared to CNY 0.30 in 2019[22] - The weighted average return on equity rose to 12.18%, an increase of 1.54 percentage points from 10.64% in 2019[22] - The net profit attributable to shareholders in Q2 2020 was CNY 258.90 million, a significant recovery from a loss of CNY 25.44 million in Q1 2020[23] - The company reported a total revenue of CNY 2.47 billion in Q4 2020, marking a substantial increase from CNY 1.66 billion in Q3 2020[23] - The company achieved operating revenue of ¥5,903,418,679.10, an increase of 35.15% compared to the previous year, primarily due to increased revenue from municipal engineering projects[43] - The net profit attributable to the parent company was ¥607,248,158.86, representing a 27.62% increase year-on-year, driven by higher profits from core businesses (construction and real estate)[43] - The company reported a significant increase in other income, which rose by 404.11% to ¥15,006,081.24, compared to ¥2,976,725.86 in the previous year, mainly due to increased government subsidies[51] - The company’s net profit attributable to shareholders was ¥947,903,430.43, up from ¥728,519,949.28 in the previous year, representing a growth of 30.1%[195] Assets and Liabilities - The total assets of the company at the end of 2020 were CNY 10,925,433,578.67, reflecting a 6.64% increase from CNY 10,244,697,333.01 at the end of 2019[21] - The company's net assets attributable to shareholders increased to CNY 5,295,654,567.20, a 13.02% rise from CNY 4,685,437,170.21 in 2019[21] - The total assets as of December 31, 2020, amounted to ¥8,147,371,977.46, a decrease from ¥8,696,826,829.72 in 2019[195] - The total liabilities were ¥2,696,097,349.34, down from ¥3,546,025,694.11 in 2019, indicating a reduction of 23.9%[194] - The total current liabilities rose to ¥5,157,495,771.53 in 2020 compared to ¥4,847,623,594.20 in 2019, marking an increase of about 6.4%[190] - The company's debt-to-asset ratio improved to 52.68%, down from 55.15% in the previous year, indicating a reduction in debt[167] Cash Flow - The operating cash flow net amount for 2020 was CNY 454,368,577.06, a decrease of 69.54% compared to CNY 1,491,657,229.72 in 2019[21] - The total cash flow from operating activities was CNY 20.37 million in 2020[24] - The company’s cash flow from operating activities decreased by 69.54% to ¥454,368,577.06, indicating challenges in cash generation[45] - Cash and cash equivalents were reported at ¥1,925,555,475.30 in 2020, down from ¥2,030,017,742.00 in 2019, a decrease of about 5.2%[189] Research and Development - Research and development expenses rose by 23.46% to ¥214,763,150.62, reflecting the company's commitment to innovation and technology advancement[44] - The total R&D expenditure amounted to ¥214,763,150.62, accounting for 3.64% of operating revenue, with no capitalized R&D costs[52] - The number of R&D personnel was 307, representing 9.09% of the total workforce[52] - The company completed 4 provincial-level research projects and 5 enterprise-level research projects during the reporting period, showcasing its focus on technological collaboration[43] Market and Business Strategy - The company is actively expanding its market presence beyond Jiangsu, Zhejiang, and Shanghai, participating in bids across several provinces including Jiangxi and Hubei[39] - The company aims to enhance its core brand in highway, bridge, and rail transit construction, focusing on high-quality development and technological innovation[74] - The company will implement a "going out" strategy to expand its market presence while strengthening project management and quality control[75] - The company is exploring market expansion opportunities, particularly in the real estate sector, with ongoing projects in Taizhou and Ningbo[139] Risk Management - The company has a risk statement indicating that future plans and strategies do not constitute a substantive commitment to investors[6] - The company faces risks from macroeconomic fluctuations, which could adversely affect its overall business performance[78] - The construction industry is heavily influenced by national policies, and changes in fiscal and tax policies may impact the company's operations[78] - The company plans to enhance its risk warning mechanisms and evaluate the creditworthiness of project repayment entities comprehensively[79] Corporate Governance - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[4] - The company has established a complete environmental management system to ensure compliance with environmental standards[116] - The company held its annual shareholders' meeting on May 11, 2020, with the resolutions published on the Shanghai Stock Exchange on May 12, 2020[152] - The board of directors and supervisory board conducted their duties in accordance with legal and regulatory requirements, ensuring corporate governance[151] Shareholder Information - The company maintains a cash dividend policy to distribute at least 30% of the average distributable profit over three years, provided the net profit is positive and cash flow is sufficient[83] - The total remuneration for all directors, supervisors, and senior management was 13.941 million yuan[141] - The total number of ordinary shareholders increased from 80,272 to 83,442 during the reporting period[123] - The largest shareholder, Ye Linfu, holds 132,047,177 shares, representing 8.26% of the total shares[125]