Financial Performance - In 2021, the company achieved a net profit available for distribution to ordinary shareholders of approximately RMB 16.465 billion, with a proposed cash dividend of about RMB 2.04 per 10 shares (including tax) [6]. - The company achieved a revenue of ¥685.64 billion in 2021, representing a 9.25% increase compared to ¥627.59 billion in 2020 [32]. - The net profit attributable to shareholders reached ¥17.99 billion, an increase of 11.03% from ¥16.21 billion in the previous year [32]. - The basic earnings per share increased to ¥1.02 in 2021, up 13.33% from ¥0.90 in 2020 [33]. - The company reported a net cash flow from operating activities of -¥12.64 billion in 2021, compared to ¥13.85 billion in 2020, indicating a significant change in cash flow dynamics [32]. - The company reported a significant increase in investment income, rising by 1,088.43% to 205.73 million RMB [117]. - The total profit amounted to CNY 28.74 billion, reflecting a 12.94% increase from CNY 25.45 billion year-on-year [142]. - The net profit for the year was CNY 23.50 billion, an increase of 21.44% from CNY 19.35 billion in the previous year [143]. Investment and Contracts - The total investment estimate for newly signed infrastructure projects in 2021 was RMB 400.196 billion, with a confirmed contract amount of RMB 218.104 billion, and the company expects to undertake construction contracts worth RMB 187.155 billion [13]. - The company signed new contracts worth 1,267.912 billion RMB in 2021, marking an 18.85% year-on-year increase [44]. - As of December 31, 2021, the total amount of uncompleted contracts was 3,128.254 billion RMB, indicating strong order reserves [46]. - The company has signed significant contracts in key areas, including CNY 423.96 billion for the Chengdu Pengzhou Comprehensive Development Project and CNY 216.86 billion for the Chongqing Highway Expansion Project [93]. - The company has a total of 20,566 authorized patents, reflecting its strong focus on research and development [24]. Strategic Goals and Future Plans - The company aims for a new contract amount growth of no less than 11.8% and a revenue growth of no less than 6% in 2022, while controlling the debt ratio within 75% [14]. - The company aims to enhance its global competitiveness and is committed to high-quality development in the new era [24]. - The company plans to maintain a debt-to-asset ratio below 75% while enhancing cash flow management and improving operational cash flow metrics [51]. - The company is focusing on high-quality development, emphasizing stable growth, optimizing structure, and controlling risks in its operations [52]. - The company is committed to sustainable development and aims to become a world-class enterprise with global competitiveness [182]. Research and Development - The company plans to increase its R&D investment in line with revenue growth, targeting a 0.1 percentage point increase in operating income profit margin and a 2% increase in labor productivity in 2022 [14]. - The company has been awarded 40 National Science and Technology Progress Awards and 5 National Technology Invention Awards, showcasing its commitment to innovation [24]. - In 2021, the company's R&D expenditure was 22.821 billion yuan, accounting for 3.33% of its operating income, an increase of 0.12 percentage points from the previous year [107]. - The company has developed key technologies in complex natural conditions, achieving breakthroughs in large-diameter tunnel boring machine manufacturing, and has reached a competitive level with leading companies in Europe and the U.S. [104]. Market Expansion and Internationalization - The overseas project revenue contribution was 14% in 2021, with new contract contributions at 17%, and the company plans to enhance its overseas market layout in 2022 [14]. - The company is actively participating in major national strategic projects, including the Winter Olympics and the Sichuan-Tibet Railway, to strengthen its role in national infrastructure development [62]. - The company is enhancing its internationalization efforts, aiming to transition from "business internationalization" to "corporate internationalization" to support the Belt and Road Initiative [53]. - The company is prioritizing overseas business development, particularly in the context of the Belt and Road Initiative and other international infrastructure opportunities [187]. Environmental Responsibility - The company emphasizes the importance of environmental responsibility and has initiated various projects to enhance its environmental governance capabilities [14]. - The company is actively involved in environmental governance and new energy projects, with successful implementations of multiple wastewater treatment and offshore wind power projects [75]. - The company is leveraging national ecological civilization construction demands to drive new market opportunities in ecological protection and water resource management [82]. Risk Management - The group faces significant macroeconomic risks, including pressures from economic contraction, supply shocks, and weakened expectations, which may impact its development [188]. - The group emphasizes safety in production, recognizing risks from human behavior, unsafe conditions, and environmental factors that could lead to accidents [196]. - The group is enhancing its risk management framework to address various risks, including network security and compliance in international operations [200].

Financial Performance - In 2021, the company's revenue was CNY 682.599 billion, an increase of CNY 58.104 billion or 9.3% compared to 2020[2]. - The gross profit for 2021 was CNY 84.503 billion, up CNY 4.467 billion or 5.6% from 2020[2]. - The net profit attributable to shareholders was CNY 18.348 billion, an increase of CNY 1.873 billion or 11.4% year-on-year[2]. - The operating revenue for 2021 was CNY 682.60 billion, reaching 99% of the annual target[60]. - The company reported a total comprehensive income of RMB 22.345 billion for the year, compared to RMB 16.874 billion in the previous year, indicating a year-over-year increase of about 32.5%[122]. - The company reported a net profit of RMB 23,858 million for the year ended December 31, 2021, compared to RMB 19,629 million for the year ended December 31, 2020, reflecting a growth of approximately 21.4%[142][143]. Contract and Project Management - The new contract amount signed in 2021 was CNY 1,267.912 billion, representing an 18.9% increase from 2020[2]. - As of December 31, 2021, the amount of uncompleted contracts was CNY 3,128.254 billion, indicating strong order reserves[3]. - The total amount of contracts in execution as of December 31, 2021, was CNY 3,128.25 billion[14]. - The company signed new contracts worth CNY 1,267.91 billion in 2021, representing an 18.9% year-on-year increase[14]. - The company is focusing on major projects and large-scale initiatives to enhance business capabilities and risk management[18]. Strategic Goals and Future Plans - The company plans to achieve a new contract amount growth of no less than 11.8% and revenue growth of no less than 6% in 2022[4]. - The company aims to control the asset-liability ratio within 75% and improve operating income profit margin by at least 0.1 percentage points[4]. - The company is committed to high-quality development and will focus on stabilizing growth, optimizing structure, and controlling risks[5]. - The company aims to strengthen its core technological advantages and address "bottleneck" technology issues to advance towards becoming a world-class "technology-driven" enterprise[12]. Technological Innovation - The company emphasizes technological innovation and is continuously improving its innovation system to enhance independent innovation capabilities[10]. - The company has achieved significant breakthroughs in key technologies, including large-diameter tunnel shield manufacturing, which has reached a competitive level with leading companies in Europe and the United States[11]. - The company launched the domestically developed 16.07-meter diameter slurry balance shield machine, marking a significant advancement in China's shield equipment manufacturing[63]. Market Expansion and International Presence - The company is actively involved in significant projects under the "Belt and Road" initiative, enhancing international cooperation[17]. - The company is focusing on enhancing its market expansion capabilities in urban construction and infrastructure investment[14]. - The company aims to strengthen its international presence and optimize overseas business structures, particularly in the context of the Belt and Road Initiative[62]. Financial Management and Cash Flow - The company emphasizes the importance of cash flow management and aims to enhance operational cash flow metrics[4]. - Net cash used in operating activities decreased by 59.3% to RMB 12,643 million in 2021 from RMB 31,074 million in 2020, primarily due to faster turnover of contract assets and trade receivables[91]. - Net cash generated from financing activities was RMB 42,204 million in 2021, a decrease of 55.0% from RMB 93,687 million in 2020, attributed to optimized investment structures and reduced funding needs[92]. Risk Management - The group is focusing on enhancing research on macroeconomic policies and industry trends to mitigate risks associated with economic fluctuations[104]. - The group faced risks related to raw material procurement, with a focus on centralized purchasing to mitigate price fluctuations of key materials like steel and cement[107]. - The group emphasizes "value investment" and strict control over non-core investments to manage investment risks effectively[106]. Corporate Governance - The company has complied with the corporate governance code, with a separation of roles between the chairman and the CEO as of April 7, 2021[180]. - The company operates under the International Financial Reporting Standards and prepares its financial statements in RMB[133]. - Ernst & Young has been appointed as the international auditor for the company for the year ended December 31, 2021, confirming the consistency of the financial figures[189].