中国化学工程股份有限公司 审 计 报 告 众环审字（2025）0202648号 目 录 | | 起始页码 | | --- | --- | | 审计报告 | 1-5 | | 财务报表 | | | 合并资产负债表 | 1 | | 合并利润表 | 3 | | 合并现金流量表 | 4 | | 合并股东权益变动表 | 5 | | 资产负债表 | 7 | | 利润表 | 9 | | 现金流量表 | 10 | | 股东权益变动表 | 11 | | 财务报表附注 | 13 | | 财务报表附注补充资料 | 203 | 审 计 报 告 众环审字（2025）0202648 号 中国化学工程股份有限公司全体股东： 一、审计意见 我们审计了中国化学工程股份有限公司（以下简称"中国化学"）财务报表，包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合并及公司现金 流量表、合并及公司股东权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了 中国化学 2024 年 12 月 31 日合并及公司的财务状况以及 2024 年度合并及公司的经 ...

关于中国化学工程股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 目录 1、 专项审计报告 2、 附表 委托单位：中国化学工程股份有限公司 审计单位：中审众环会计师事务所（特殊普通合伙） 联系电话：010-88217171 关于中国化学工程股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情况表 单位：万元 | 非经营性资金占 | 资金占用方 | 占用方与上市 | 上市公司 | 2024 | 年期 | 2024 年度 占用累计发 | 2024 年度 占用资金 | 2024 年度 | 2024 年期 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 公司的关联关 | 核算的会 | 初占用资 | | | | 偿还累计发 | 末占用资金 | 占用形成 | 占用性质 | | 用 | 名称 | | | | | 生金额(不 | 的利息 | | | 原因 | | | | | 系 | 计科目 | | 金余额 | 含利息) | (如有) | 生金额 | 余额 | | | ...

Financial Performance - The company's operating revenue for 2024 reached ¥185.84 billion, an increase of 4.20% compared to ¥178.36 billion in 2023[19]. - The net profit attributable to shareholders for 2024 was ¥5.69 billion, reflecting a growth of 4.82% from ¥5.43 billion in 2023[19]. - The net cash flow from operating activities decreased by 4.51% to ¥8.72 billion in 2024, down from ¥9.13 billion in 2023[19]. - The total assets of the company at the end of 2024 amounted to ¥233.42 billion, a 6.53% increase from ¥219.12 billion at the end of 2023[19]. - The company's net assets attributable to shareholders increased by 8.31% to ¥62.28 billion in 2024, compared to ¥57.50 billion in 2023[19]. - The basic earnings per share for 2024 were ¥0.93, up 4.49% from ¥0.89 in 2023[20]. - The diluted earnings per share also stood at ¥0.93 for 2024, reflecting the same growth rate of 4.49% compared to the previous year[20]. - The weighted average return on equity for 2024 was 9.50%, a decrease of 0.33 percentage points from 9.83% in 2023[20]. - The company reported a profit total of 7.359 billion yuan, an increase of 6.57% year-on-year, indicating strong financial performance[72]. Revenue and Contracts - The company signed new contracts worth RMB 366.94 billion in 2024, representing a 12.30% increase compared to the previous year[34]. - The domestic new contract amount was RMB 253.63 billion, up 12.15% year-on-year, accounting for 69.12% of total new contracts[34]. - In 2024, the company achieved total operating revenue of RMB 186.61 billion, a year-on-year increase of 4.14%[29]. - The company achieved total operating revenue of 186.613 billion yuan in 2024, representing a year-on-year growth of 4.14%[72]. - The company signed a total of 4,979 new projects during the reporting period, with a total value of 366.94 billion RMB[102]. Cash Flow and Investments - The company’s cash flow from operating activities showed a significant improvement, with a net cash inflow of RMB 14.35 billion in Q4 2024[9]. - The net cash flow from investment activities was -3.76 billion yuan, indicating a decrease in cash recovered from investments[90]. - The company’s loans and advances increased by 42.34% to 89.45 billion RMB, attributed to the financial services company’s increased lending activities[94]. Research and Development - The company’s R&D investment totaled 6.65 billion yuan, representing 3.58% of total revenue, with a year-on-year increase of 4.54%[86][89]. - The company has accumulated 5,730 authorized patents and 348 proprietary technologies, demonstrating its strong focus on innovation and R&D[67]. - The company has established a research and development framework focusing on six major industrial chains, with a talent pool of 390 key research personnel and three new recruits under the State-owned Assets Supervision and Administration Commission's "Great Wall Plan" for high-end talent[40]. Market Expansion and Strategy - The company plans to expand its international operations, with over 70% of new contracts from key markets like Egypt and Kazakhstan[37]. - The company aims to build a world-class engineering company with a focus on R&D, investment, construction, and operation, covering various business areas including infrastructure and environmental governance[53]. - The company is focusing on enhancing macroeconomic regulation effectiveness and policy toolbox completeness as part of its future strategy[114]. - The company is actively improving its risk prevention mechanisms, with a focus on internal audits and financial risk management[139]. Environmental Compliance and Sustainability - The company is committed to sustainable development in its industrial sector, focusing on waste treatment and environmental remediation projects[58]. - The company has established protocols for monitoring and reporting emissions to ensure transparency and regulatory compliance[186]. - The company is focused on reducing the environmental impact of its operations through adherence to stringent emission standards[186]. - The company has a wastewater treatment capacity of 6,480 tons per day, operational since December 2014[194]. Governance and Management - The company has held 4 shareholder meetings and 11 board meetings in 2024 to ensure effective decision-making processes[138]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 992.85 million yuan[143]. - The company has implemented measures to ensure the independence of its operations, with no significant changes reported in related party transactions[140]. - The company has a structured training program focusing on management and technical talent development, enhancing employee skills[168]. Future Outlook - The company anticipates a global economic growth rate of 3.3% in 2025, with China's expected growth rate at 4.6%[114]. - The company plans to achieve a new contract signing amount of 370 billion CNY and total revenue of 195 billion CNY by 2025, with a profit target of 7.68 billion CNY[127]. - Overall, the company remains committed to sustainable growth and innovation, with a long-term vision to achieve J% market growth over the next five years[145].

Financial Performance - In Q1 2025, the company achieved operating revenue of CNY 44.50 billion, a decrease of 0.98% compared to the same period last year[10]. - The net profit attributable to shareholders was CNY 1.44 billion, representing an increase of 18.77% year-on-year[10]. - The net profit after deducting non-recurring gains and losses was CNY 1.41 billion, up 22.63% from the previous year[10]. - The basic earnings per share increased by 20.00% to CNY 0.24 compared to CNY 0.20 in the same period last year[4]. - The company reported a net profit of CNY 1.60 billion for Q1 2025, up from CNY 1.35 billion in Q1 2024, indicating a growth of 18.52%[16]. - The net profit for Q1 2025 was approximately ¥1.60 billion, an increase from ¥1.35 billion in Q1 2024, representing a growth of about 18.2%[17]. - The net profit attributable to shareholders of the parent company was approximately ¥1.44 billion, up from ¥1.22 billion in the same period last year, reflecting a growth of around 18.7%[17]. - The total comprehensive income for Q1 2025 was approximately ¥1.59 billion, compared to ¥1.35 billion in Q1 2024, indicating an increase of about 18.1%[17]. - The basic and diluted earnings per share for Q1 2025 were both ¥0.24, compared to ¥0.20 in Q1 2024, marking a 20% increase[17]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 230.98 billion, a decrease of 1.05% from the end of the previous year[5]. - Total assets as of March 31, 2025, amounted to CNY 230.98 billion, a decrease from CNY 233.42 billion as of December 31, 2024[14]. - Current assets totaled CNY 171.98 billion, down from CNY 175.16 billion in the previous period[12]. - Total liabilities as of March 31, 2025, were CNY 160.38 billion, down from CNY 164.52 billion at the end of 2024[14]. - Long-term borrowings increased to CNY 7.30 billion from CNY 5.31 billion, reflecting a growth of 37.06%[14]. - Shareholders' equity attributable to shareholders increased by 2.48% to CNY 63.82 billion compared to the previous year[5]. - The total equity attributable to shareholders increased to CNY 63.82 billion from CNY 62.28 billion, a rise of 2.47%[14]. Cash Flow - The net cash flow from operating activities was negative at CNY -15.10 billion, compared to CNY -6.77 billion in the same period last year[4]. - Cash flow from operating activities showed a net outflow of approximately ¥15.10 billion in Q1 2025, worsening from a net outflow of ¥6.77 billion in Q1 2024[21]. - Cash flow from investing activities resulted in a net outflow of approximately ¥899.26 million in Q1 2025, compared to a net inflow of ¥603.33 million in Q1 2024[22]. - Cash flow from financing activities generated a net inflow of approximately ¥654.94 million in Q1 2025, contrasting with a net outflow of ¥1.25 billion in Q1 2024[22]. - The total cash and cash equivalents at the end of Q1 2025 were approximately ¥27.28 billion, down from ¥35.59 billion at the end of Q1 2024[22]. - Cash and cash equivalents decreased to CNY 33.33 billion from CNY 50.07 billion, representing a decline of 33.33%[12]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 105,401[8]. Research and Development - Research and development expenses for Q1 2025 were CNY 1.16 billion, an increase of 21% compared to CNY 959.46 million in Q1 2024[16]. Strategic Outlook - The company emphasized its commitment to innovation-driven development and high-quality growth in its strategic outlook[10]. Sales Performance - The company reported a decrease in cash received from sales of goods and services, totaling approximately ¥40.02 billion in Q1 2025, down from ¥47.66 billion in Q1 2024, a decline of about 16.4%[21]. - The company experienced a net increase in customer deposits and interbank deposits of approximately -¥1.57 billion in Q1 2025, compared to -¥1.67 billion in Q1 2024[21].

2024 年，作为中国化学工程股份有限公司（以下简称"公 司"）独立董事，本人严格遵守《公司法》、上市公司监管规 则、公司《章程》及各项管理规定，积极参加董事会会议及 调研活动，勤勉、公正、独立地履行职责。现将履职情况报 告如下： 一、勤勉尽责，积极参加董事会会议和考察调研活动 （一）参加董事会、董事会专门委员会、股东大会会议 情况。年内我出席公司董事会 11 次，审议及听取汇报事项 60 项，其中，审议董事会会议议案 52 项，均投赞成票，听 取汇报事项 8 项；出席董事会专门委员会 5 次，审议及听取 汇报事项 5 项；出席外部董事沟通会 1 次，听取汇报事项 22 项；出席股东大会 4 次，审议及听取汇报事项 17 项。本人 根据中国证监会、上海证券交易所关于独立董事的履职要求， 勤勉履行职责，切实维护出资人权益，对会议讨论的重大经 营决策事项和其他重大事项进行了认真审议。在审议过程中， 本人始终坚持以公司整体利益和全体股东利益为出发点，审 慎行使表决权，确保了决策的科学性、合法性、合理性。 2024 年度个人述职报告 独立董事 陈壁 2024 年，本人在董事会及其专门委员会审议决策时，坚 持实事求是、 ...

二、年度履职重点关注事项的情况 独立董事 杨有红 2024 年，作为中国化学工程股份有限公司（以下简称"公 司"）独立董事，本人严格按照《公司法》《证券法》等有关 规定和证券监管部门的相关要求，忠实勤勉履行职责，独立 负责地行使职权。现将履职情况报告如下： 一、履职情况 （一）出席公司各类会议，勤勉尽责履行董事职责。年 内我出席公司董事会 11 次，审议及听取汇报事项 60 项，其 中，审议董事会会议议案 52 项，均投赞成票，听取汇报事 项 8 项；出席董事会专门委员会 6 次，审议及听取汇报事项 33 项；出席外部董事沟通会 1 次，听取汇报事项 22 项；出 席股东大会 4 次，审议及听取汇报事项 17 项。对于公司董 事会及其专门委员会审议决策的重大事项的议案资料，作为 独立董事均要求公司严格按照公司《章程》规定时间提供， 对全部议案进行了客观审慎的思考和研究，根据实际情况及 时向公司相关部门和人员问询。在出席公司股东大会、董事 会及其专门委员会相关会议时，积极参与对议案的讨论、审 议，依法独立客观地发表意见、审慎表决，并向公司提出合 理化建议。关注决议执行情况和效果，督促公司严格按照会 议决议的相关 ...

2024 年度个人述职报告 二、重点关注事项情况 （一）勤勉尽职，关注重点事项。2024 年，本人切实从 维护全体股东和出资人权益角度出发，注重推动公司持续迈 向高质量发展与治理水平持续提升，在董事会及其专门委员 会审议决策时坚持原则、担当尽责、诚实守信、建言献策， 就公司预算、决算、年度担保、计提减值准备方案、利润分 配方案及关联交易事项等发表了意见。 一是支持公司高质量发展。鼓励公司加强对建筑行业的 战略研判，准确把握相关政策方向。持续优化经营管理方式， 审议通过公司"提质增效重回报"行动方案的议案，强调提 高投资质量、加强过程审批、保障投资收益、防范投资风险， 同时充分发挥管理创新、技术创新对创效的支撑作用，注重 把创新成果转化为创效能力，加快推动企业转型升级。 二是严格审核重要财务事项。认真审核公司综合授信、 财务预算和决算报告、利润分配方案、募集资金使用存放等 独立董事 兰春杰 2024 年，作为中国化学工程股份有限公司（以下简称"公 司"）独立董事，本人严格遵守《公司法》《证券法》和上市 公司监管规定，勤勉履职，积极参加董事会各类会议及调研 活动，独立、负责地行使职权。现将履职情况报告如下： 一、 ...

丨证券研究报告丨 行业研究丨行业周报丨建筑与工程 报告要点 [Table_Summary] [Table_Summary] 中共中央政治局 4 月 25 日召开会议，分析研究当前经济形势和经济工作：会议指出，统筹 国内经济工作和国际经贸斗争，以高质量发展的确定性应对外部环境急剧变化的不确定性。 会议强调，要加紧实施更加积极有为的宏观政策，同时指出，要持续用力防范化解重点领域 风险，结合来看，政治会议为地产链释放积极的稳定信号。 分析师及联系人 [Table_Author] SAC：S0490520080022 SAC：S0490522060005 SFC：BUT917 [Table_Title] 政治局会议召开，关注稳增长+"一带一路" 会议指出，统筹国内经济工作和国际经贸斗争，以高质量发展的确定性应对外部环境急剧变化 的不确定性。中共中央政治局 4 月 25 日召开会议，分析研究当前经济形势和经济工作。注意 到本次政治局会议将中美贸易摩擦称作"国际贸易斗争"，今年 4 月以来，美国对华关税持续 提升，不久前，美国白宫声明表示，由于中国采取报复性措施，美对华关税加征至 245%，相 比上一次美国上调关税（20 ...

施工业务：国内受益煤化工投资提速，海外保持较高景气。当前海外能源不稳定因素增多，同时国内能 源需求稳定上行，叠加近期中美关税事件冲击，提高国内能源自给率的重要性持续提升，发展新疆煤化 工是保障国家能源安全的重要一环。今年新疆煤化工投资预计步入加速期，我们测算2025-2026 年预计 每年投资完成额为1177/2104 亿元，2025 年开始项目建设显著提速，2026 年有望步入执行高峰。中国化 学作为化学工程行业龙头，占据我国绝大部分煤化工份额，后续有望显著受益新疆煤化工建设提速。假 设每年煤化工投资中70%以EPC 订单形式实现，中国化学占其中至少50%以上份额，预计2025-2026 年 可分别获得订单391/736 亿元，占公司2024 年订单的10.7%/20.1%，预计可对冲国内其他品类化工订单 下滑，带动国内订单保持平稳增长。海外市场看，2024 年公司新签海外订单1133 亿元，占总订单的 30.9%，在去年海外订单大增165%的高基数上继续增长13%，海外业务开拓持续加码。随着近年来公司 签署的大量海外订单在今年陆续进入施工期，海外订单有望持续向收入传导，驱动公司整体营收与利润 加速。 投资 ...

行业研究 证券研究报 告 新疆周报（20250421-20250427） 国家生态环境部受理国能准东20亿方煤制气 推荐（维持） 项目环评 基础化工 2025 年 04 月 28 日 邮箱：chenjunxin@hcyjs.com 执业编号：S0360525040001 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 489 | 0.06 | | 总市值(亿元) | 41,489.30 | 4.27 | | 流通市值(亿元) | 36,738.07 | 4.77 | 相对指数表现 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | -5.7% | -2.4% | 3.9% | | 相对表现 | -2.0% | 1.9% | -3.4% | 华创证券研究所 证券分析师：杨晖 邮箱：yanghui@hcyjs.com 执业编号：S0360522050001 证券分析师：陈俊新 《基础化工行业周报（20250414-20250420）：本 周丙烷、敌草快、石脑油价格涨幅居前》 2025-04-21 证 ...