Investment Rating - The report maintains a "Recommended" rating for the company [1] Core Insights - The company achieved steady growth in 2023, with revenue of 74.193 billion yuan, an increase of 2.62% year-on-year, and a net profit attributable to shareholders of 2.939 billion yuan, up 2.92% year-on-year [1] - The new contract value for energy engineering saw significant growth, with a total of 95.38 billion yuan in new orders, representing a year-on-year increase of 14.11% [1] - The company is optimizing its industrial structure and has made strategic acquisitions to enhance its water infrastructure segment, which has been recognized by the market [1] Financial Performance Summary - Revenue by segment in 2023: - Construction business: 61.36 billion yuan, up 3.11% - Infrastructure operation: 5.972 billion yuan, up 20.85% - Digital information: 317 million yuan, up 2.07% - Design services: 2.565 billion yuan, down 3.85% - Investment business: 2.863 billion yuan, down 22.92% - Mechanical processing and manufacturing: 292 million yuan, down 22.65% - Financing leasing: 432 million yuan, down 6.50% [1] - The gross profit margin for the company in 2023 was 10.28%, a decrease of 2.69 percentage points year-on-year [1] - The company’s operating cash flow was 3.178 billion yuan, a decrease of 21.45% year-on-year, while investment cash flow was -1.738 billion yuan, a decrease of 41.85% year-on-year [1] Future Projections - Expected revenue for 2024-2026: - 2024: 80.226 billion yuan, growth of 8.13% - 2025: 88.041 billion yuan, growth of 9.74% - 2026: 98.001 billion yuan, growth of 11.31% [1] - Projected net profit for the same period: - 2024: 3.181 billion yuan, growth of 8.25% - 2025: 3.462 billion yuan, growth of 8.82% - 2026: 3.787 billion yuan, growth of 9.40% [1]

遂道股份23年报交流240420长江原文 2024年04月20日11:16 发言人100:04 您以及我们的数字化的业务和我们市场股份的遵循看我们以往形成的一些经验和我们的数据要素的积 累。所不断的从作为中国第一家的作为中国软土盾构机的研发、设计、制造、组装、维保等等形成的这 一个上海加上几个区域市场。上海的市场在2023年度依然保持着是一个比较好的势头。另外我们几个区 域市场，像这个长三角的区域市场。第二个就是我们的中原以郑州为核心的区域市场。第三个就是包括 香港、澳门在内的大湾区的区域市场。最后一个就是我们以新加坡为核心的，东南亚的区域市场。这些 是我们在整体的营收当中所体现的，主要就是这几块。 股市调 一手 发言人101:04 从整个的这个行业的特点来看，整体来说实际上是作为我们中国建筑业来说，无论是央企国企或者是一 些民企，整体在传统的施工业务方面，这个毛利率都有所下滑。当然也有几人因素，一个是工程项目出 的比较少，可能是本身在招标的时候的这个利润的给的这个利润率就不是特别高。当然我们今天说这个 话都是大家私下聊啊不要往外面去传，就个作为个人理解就可以了。另外一个，就是在2022年 到2023年，实际 ...

股票代码 [600820] 微信公众号 官方网站 地址：中国·上海市徐汇区宛平南路1099号 邮政编码: 200232 电话: +86-21-58301000 传真: +86-21-58307000 承载城市梦想 建筑美好生活 2023 环境、社会与治理报告 ENVIRONMENTAL，SOCIAL AND GOVERNANCE REPORT 座 隧道股份 x x 7 fri 4 B 争载城市梦想 建筑复始专店 linning 目录 | 关于本报告 | | --- | | 董事长致辞 · | | 走进隧道股份· | | 市场布局 | | 发展历程 | | 年度荣誉 · | | 数说2023 ················11 · | | 战略与文化 · | 治理筑基 筑牢可持续发展根基 | 专题： 行稳致远，夯实ESG治理体系 | | --- | | 驱动红色引擎,凝心聚力发展 ··············23 | | 合规三会治理,提升治理效能 · | | 筑牢风险防线,完善监督管控 ·················28 | | 严守安全底线,全面安全管理 ······················· ...

上海隧道工程股份有限公司第十届董事会第二十五次会议文件之九 公司代码：600820 公司简称：隧道股份 上海隧道工程股份有限公司 2023 年度内部控制评价报告 上海隧道工程股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性， ...

| 证券代码：600820 | 股票简称：隧道股份 编号：临2024-019 | | --- | --- | | 债券代码：185752 | 债券简称：22隧道01 | 上海隧道工程股份有限公司 关于预计2024年度日常关联交易的公告 一、日常关联交易基本情况 为保证2024年度生产经营的正常开展，本着专业协作、优势互补 的合作原则并与相关关联方实现资源共享，2024年度公司预计发生关 联交易总额为人民币774,621.78万元。 （一）日常关联交易履行的审议程序 1、独立董事专门会议审议情况 2024 年 4 月 18 日上午，公司召开第十届董事会独立董事专门会 议第一次会议，审议通过了《公司关于预计 2024 年度日常关联交易 的议案》，独立董事认为：公司 2023 年度发生的日常关联交易金额在 预计的合理范围之内；对 2024 年度日常关联交易金额的预计和定价 是按照诚实信用原则和遵循公开、公正、公平的原则进行的，是公司 正常的生产经营需要，有利于保证公司 2024 年生产经营计划的顺利 实施，不会损害公司及中小股东和非关联股东的利益。同意将该议案 提交公司第十届董事会第二十五次会议审议。 1 本次关联 ...

Fundraising and Utilization - The total amount raised from the issuance of the first phase of corporate bonds was 1.5 billion RMB, all of which was used to repay maturing debts[3]. - The actual amount used from the first phase of corporate bonds for repaying interest-bearing debts was 1.5 billion RMB[5]. - The total amount raised from the issuance of the second phase of corporate bonds was 1 billion RMB, with 655 million RMB used to repay interest-bearing debts and 341 million RMB for working capital[10][12]. - The company confirmed that there were no changes in the use of raised funds for both phases of corporate bonds[4][11]. - The balance of raised funds at the end of the reporting period for both phases was 0 RMB, indicating full utilization[3][10]. - The company has established special accounts for the management of raised funds, ensuring proper operation and compliance[3][10]. - There were no violations in the use of raised funds during the reporting period[9]. - The company did not engage in temporary liquidity support using raised funds[8]. - The funds raised were not used for fixed asset investments or equity investments[6][10]. - The company has maintained compliance with local government debt management regulations regarding the use of raised funds[9]. - There were no instances of non-compliance in the use of raised funds during the reporting period[16]. - There were no significant changes in project operations or adverse events affecting the use of raised funds during the reporting period[4]. Debt Management - The company's interest-bearing debt increased from 52.61 billion RMB at the beginning of the reporting period to 66.88 billion RMB at the end, representing a year-on-year change of 27.12%[19]. - The total interest-bearing debt for the consolidated entity rose from 346.10 billion RMB to 355.97 billion RMB, reflecting a year-on-year increase of 2.85%[22]. - The balance of corporate bonds at the end of the reporting period was 50.64 billion RMB, with no corporate bonds maturing or redeemable between May and December 2024[20]. - The company reported no overdue interest-bearing debts exceeding 10 million RMB at the end of the reporting period[23]. Innovation and Performance - The company has established five innovation centers focusing on urban renewal, digital tunneling, smart operations, new materials, and dual carbon initiatives to drive technological innovation[25]. - The company has implemented a performance evaluation mechanism aimed at matching technological innovations with market demands, enhancing core capabilities and industrial transformation[25]. - The proportion of non-operating receivables and loans to net assets was 0%, indicating no significant financial risk in this area[18].

上海隧道工程股份有限公司 非经营性资金占用及其他关联 资金往来情况的专项报告 二〇二三年度 信会师报字[2024]第 ZA11393 号 上海隧道工程股份有限公司全体股东: 我们审计了上海隧道工程股份有限公司(以下简称"隧道股份公 司")2023年度的财务报表,包括2023年12月31日的合并及母公司 资产负债表、2023 年度合并及母公司利润表、合并及母公司现金流 量表、合并及母公司所有者权益变动表和相关财务报表附注,并于 2024 年 04 月 18 日出具了报告号为信会师报字[2024]第 ZA11398 号 的无保留意见审计报告。 隧道股份公司管理层根据中国证券监督管理委员会《上市公司监 管指引第 8 号 -- 上市公司资金往来、对外担保的监管要求》(证监 会公告〔2022〕26 号)和《上海证券交易所上市公司自律监管指南 第 2 号 -- 业务办理》的相关规定编制了后附的 2023 年度非经营性 资金占用及其他关联资金往来情况汇总表(以下简称"汇总表")。 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）"进行查验 您可使用手机"扫一扫"或进入" ...

上海隧道工程股份有限公司 2023 年度独立董事述职报告 作为上海隧道工程股份有限公司(简称"公司")独立董事,2023年度,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》的规定要求,勤勉、忠实的履行独立董事职责,及时了解公司 生产经营信息,全面关注公司的发展状况,积极出席相关会议,认真审议各项议 案,对公司重大事项发表客观、审慎、公正的事前认可或独立意见,维护了公司 整体利益和中小股东的合法权益。现将2023年度主要工作报告如下: 一、独立董事的基本情况 褚君浩,男,1945年3月出生,博士,中科院院士。现任上海技术物理研究 所研究员、复旦大学光电研究院院长、华东师大学术委员会名誉主任,兼任江苏 亨通光电股份有限公司独立董事、上海隧道工程股份有限公司第十届董事会独立 董事。 作为公司独立董事,任职期间,本人未在公司担任除独立董事以外的其他职 务,与公司、公司的控股股东不存在可能妨碍本人进行独立客观判断的关系,本 人也没有从公司、公司控股股东及其关联方取得额外的、未予披露的其他利益。 因此,不存在影响独立性的情况。 | | | 童事会 本年应 | 亲自 | 以通讯 ...

Financial Performance - The company's operating revenue for 2023 reached CNY 74.19 billion, representing a 2.62% increase compared to CNY 72.30 billion in 2022[17]. - Net profit attributable to shareholders was CNY 2.94 billion, up 2.92% from CNY 2.86 billion in the previous year[17]. - The net profit after deducting non-recurring gains and losses increased by 10.35% to CNY 2.71 billion from CNY 2.46 billion in 2022[17]. - Basic earnings per share for 2023 was CNY 0.93, a 2.20% increase from CNY 0.91 in 2022[18]. - The weighted average return on equity decreased by 0.51 percentage points to 10.31% in 2023 from 10.82% in 2022[18]. - The total assets at the end of 2023 were CNY 161.92 billion, reflecting a 5.91% increase from CNY 152.88 billion at the end of 2022[17]. - The net assets attributable to shareholders increased by 5.05% to CNY 28.94 billion from CNY 27.55 billion in 2022[17]. - The company reported a net profit of CNY 1.44 billion in Q4 2023, with a significant increase in operating revenue to CNY 27.29 billion[20]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.30 RMB per 10 shares, totaling approximately 723.14 million RMB based on a total share capital of 3,144,096,094 shares as of December 31, 2023[3]. - The company has no plans for capital reserve transfers or stock dividends in the current profit distribution proposal[3]. - The company reported a remaining undistributed profit of approximately 16.22 billion RMB to be carried forward to future years[3]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[2]. - The board of directors and management have confirmed the accuracy and completeness of the financial report, ensuring accountability[2]. - The company maintains a commitment to transparency and has disclosed all necessary documents in compliance with regulatory requirements[7]. - There are no non-operational fund occupations by controlling shareholders or related parties reported[4]. - The company has not violated decision-making procedures in providing guarantees[4]. Operational Highlights - The company signed a total of 95.38 billion yuan in new construction, design, and operation orders during the reporting period, representing a year-on-year increase of 14.11%[26]. - The energy engineering segment within the construction business saw a significant year-on-year growth of approximately 106%[27]. - Major projects won include the Singapore Changi Airport T2 terminal connection facility project (approximately 3.345 billion yuan) and the Qidong Wujiang high-end manufacturing industrial park investment and development project (1.969 billion yuan)[27]. - The company completed the issuance of asset-backed securities with an initial issuance amount of 1.87 billion yuan, providing strong financial support for its main business development[27]. Research and Development - The company has established two national-level R&D platforms and increased its high-tech enterprises to 20, with 10 Shanghai Science and Technology Awards received in 2023[39]. - The company has a total of 2,490 authorized patents, including 767 invention patents, with 287 new authorizations in 2023[39]. - The company has successfully implemented a digital shield tunneling technology that improved tunnel quality by 30%, production efficiency by 15%, and reduced resource consumption by 10%[40]. - The company is committed to enhancing its research and development efforts to maintain a competitive edge in the infrastructure sector[94]. Environmental and Social Responsibility - The company invested approximately 192.73 million yuan in environmental protection during the reporting period[146]. - The company conducted 2,520 person-times of environmental protection training during the reporting period[149]. - The company has established an environmental management system and revised its environmental protection management regulations to reduce resource consumption and pollution emissions[149]. - The company has actively promoted biodiversity protection initiatives, including establishing a biodiversity training center in Singapore[150]. Strategic Initiatives - The company is focusing on digital transformation and smart operations to optimize its service offerings and improve project execution[93]. - The company is actively pursuing mergers and acquisitions to expand its market footprint and enhance operational capabilities[90]. - The company aims for a revenue growth of 5-10% and a net profit increase of 5-10% in 2024 compared to 2023[92]. - The company plans to enhance its core advantages through supply chain integration and innovation in technology and finance[93]. Financial Management - The total amount of long-term receivables and other non-current assets related to infrastructure investment is ¥22.740 billion and ¥20.976 billion, respectively[78]. - The total debt financing amount as of the end of 2023 is ¥35.597 billion, with long-term loans accounting for 60.24% of the total[78]. - The company raised ¥30.533 billion in bank loans during 2023, primarily for infrastructure investment projects[78]. - The company has not experienced any overdue repayment of buyback funds for infrastructure projects, indicating effective risk management[78]. Corporate Governance - The company has made commitments to avoid competition with its controlling shareholder, ensuring compliance with operational independence[101]. - The company has approved several resolutions in its shareholder meetings, including financial budget reports and profit distribution plans for 2023[103]. - The total remuneration for all directors, supervisors, and senior management was 30.0469 million yuan[113]. - The company held a total of 9 board meetings in 2023, with 2 conducted in person and 7 via communication methods[120].

●本次监事会全体监事出席。 一、监事会召集、召开情况 上海隧道工程股份有限公司第十届监事会第十二次会议，于2024 年 4 月 8 日以电子邮件方式发出会议通知，并进行了电话确认，于 2024 年 4 月 18 日上午在上海市宛平南路 1099 号会议室召开，应到 监事 3 名，实到 3 名，会议由监事会主席田赛男女士主持。本次会议 的召集、召开符合法律、法规和《公司章程》的规定。 | 证券代码：600820 | 股票简称：隧道股份 编号：临 2024-015 | | --- | --- | | 债券代码：185752 | 隧道 债券简称：22 01 | 上海隧道工程股份有限公司 第十届监事会第十二次会议决议公告 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个别及连带责任。 重要内容提示： 监事会认为，公司已在《公司章程》中明确了利润分配政策并能 够严格执行，在 2023 年年度报告中对现金分红政策及其执行情况的 披露真实、准确、完整。董事会在制订 2023 年年度末期利润分配预 案时作出了每 10 股派发现金红利 2.30 元（含税 ...