Core Viewpoint - China Communications Construction Company (CCCC) emphasizes its commitment to high-quality development and social responsibility, showcasing significant achievements in infrastructure projects and technological innovation while aligning with national strategies and global sustainability goals [4][5][7]. Group 1: Company Overview - CCCC is a leading global provider of integrated infrastructure services, primarily engaged in the investment, construction, and operation of transportation infrastructure, urban development, and related services [7]. - The company operates 34 major wholly-owned and holding subsidiaries, with a presence in all provinces, municipalities, and regions of China, as well as in 139 countries and regions worldwide [7]. - In 2024, CCCC ranked 63rd in the Fortune Global 500 and has received consistent high ratings in performance assessments from the State-owned Assets Supervision and Administration Commission (SASAC) [7]. Group 2: Corporate Vision and Mission - The corporate vision is to "make the world more connected, cities more livable, and lives better" [11]. - The mission is to "lay a solid foundation and pursue long-term goals" [8]. Group 3: Achievements in Infrastructure - CCCC has made substantial progress in major national strategic projects, including the successful completion of the Tianshan Victory Tunnel, which is a key component of the Urumqi to Ruoqiang Expressway [17]. - The company has actively participated in the Belt and Road Initiative, with significant advancements in projects like the Colombo Port City and the Mombasa-Nairobi Railway [4][5]. Group 4: Technological Innovation - CCCC has focused on digital transformation and innovation, launching the "Zhongjiao Blue Road" BIM platform, which is the first of its kind in the transportation industry [18]. - The company has developed advanced equipment and technologies, such as the world's largest dual-fuel dredging vessel and intelligent construction machinery, enhancing its competitive edge [28][32]. Group 5: Commitment to Sustainability - CCCC adheres to the "Two Mountains" theory, promoting smart and green construction practices, and has achieved significant improvements in environmental performance, such as the successful operation of the "Taihu Star" ecological dredging platform [6]. - The company has implemented over 140 community benefit projects, contributing to rural revitalization and emergency rescue efforts, reflecting its commitment to social responsibility [7]. Group 6: Governance and ESG Framework - CCCC has established a comprehensive ESG governance structure, with the board of directors overseeing ESG-related strategies and performance [9][10]. - The company has developed a robust ESG management system, integrating social responsibility into its core operations and linking ESG performance to executive compensation [10][13].

Core Viewpoint - China Communications Construction Company (CCCC) has announced a financing guarantee plan for 2025, with a total amount of CNY 62.098 billion, aimed at supporting its subsidiaries and associated companies [1][4]. Summary by Sections Financing Guarantee Plan Overview - The total financing guarantee plan for 2025 is set at CNY 62.098 billion, approved by the board of directors [1][4]. - The company plans to provide approximately CNY 4.5 billion in guarantees for its subsidiaries (including controlling subsidiaries) [1][2]. - Subsidiaries are expected to provide guarantees totaling approximately CNY 55.643 billion for their own subsidiaries [2]. - Guarantees for associated companies are estimated at CNY 1.955 billion [2]. Guarantee Details - The guarantees are based on current business conditions and are designed to enhance the efficiency of guarantee usage while ensuring compliance and risk control [2]. - The company has no overdue financing guarantees [1][4]. - The plan allows for the adjustment of guarantee amounts among subsidiaries based on their asset-liability ratios, with specific provisions for those exceeding 70% [2][3]. Necessity and Reasonableness of Guarantees - The provision of guarantees is essential for meeting the daily operational and business development needs of the company [3][4]. - The company ensures that all guarantees are approved in accordance with legal regulations and internal policies, with a focus on maintaining good credit status among the guaranteed parties [3][4]. Board of Directors' Opinion - The board has approved the financing guarantee plan and will seek authorization from the shareholders' meeting to allow management to handle specific matters within the approved total amount [4]. - As of December 31, 2024, the total financing guarantee balance is CNY 113.139 billion, representing 24.18% of the company's net assets [4].

Profit Distribution Plan - The company plans to distribute a cash dividend of 0.16161 yuan per share (before tax) based on the total share capital registered on the dividend distribution date, amounting to approximately 2.631 billion yuan in total [1][2] - The cash dividend distribution represents 21% of the net profit attributable to shareholders, an increase of 1 percentage point compared to the 2023 cash dividend ratio [1][2] - The company has already distributed approximately 2.280 billion yuan in cash dividends for the first half of 2024 [1] Financial Performance - As of December 31, 2024, the company's audited undistributed profits amounted to 195.149 billion yuan, with a net profit attributable to shareholders of 23.384 billion yuan [1][2] - The total cash dividend for 2024 is approximately 4.911 billion yuan, which is lower than 30% of the net profit attributable to shareholders [3] Industry Context - The company operates in a highly competitive construction industry characterized by high asset-liability ratios and significant accounts receivable and inventory [3] - The company is in a growth phase, focusing on market opportunities and investing heavily in business restructuring and transformation to seek new growth points [3] Retained Earnings Strategy - The company aims to retain a certain proportion of undistributed profits to enhance risk resistance and financial stability, ensuring the smooth progress of ongoing projects [3] - The retained earnings will support traditional industry upgrades and the cultivation of new business areas [3] Decision-Making Process - The profit distribution proposal was unanimously approved by the company's board of directors during the meeting held on March 27, 2025, and will be submitted for shareholder approval [4] - The supervisory board also approved the profit distribution proposal, affirming its alignment with the long-term interests of the company and its shareholders [4]

Core Points - The company held the 30th meeting of the 5th Supervisory Board, where several key resolutions were passed regarding the 2024 annual performance and financial reports, profit distribution, and other operational matters [1][2][3][4][5][6][7][8][9] Group 1: Annual Performance and Financial Reports - The Supervisory Board approved the 2024 annual performance announcement and annual report, confirming compliance with relevant laws and regulations [1][2] - The audited financial settlement report for 2024 was also approved, which will be submitted for shareholder approval [2] Group 2: Profit Distribution - The profit distribution plan for 2024 was approved, with a total cash dividend of approximately 49.11 billion yuan, representing 21% of the net profit attributable to shareholders [2][3] - The proposed dividend per share is 0.16161 yuan, totaling around 26.31 billion yuan, based on the total share capital as of March 27, 2025 [3] Group 3: Financing and Audit Matters - The company approved a financing guarantee plan for 2025 with a total limit of 620.98 billion yuan [6] - The reappointment of Ernst & Young as the international auditor and domestic auditor for 2025 was also approved, pending shareholder approval [5][6] Group 4: Internal Control and Risk Assessment - The internal control evaluation report for 2024 was approved, along with the risk assessment report for China Communications Finance Co., Ltd. [7][8] - The internal audit work report for 2024 and the work plan for 2025 were also approved [8]

Group 1: Company Overview - China Communications Finance Co., Ltd. (the "Company") is a non-bank financial institution established in July 2013, with a registered capital of 7 billion RMB as of October 2021, primarily funded by China Communications Construction Group Co., Ltd. and China Communications Construction Co., Ltd. [1] - The Company is authorized to conduct various financial services, including accepting deposits, providing loans, and engaging in financial consulting and investment activities [1]. Group 2: Internal Control Structure - The Company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, adhering to principles of effective checks and balances [2]. - Specialized committees under the board include the Audit Committee, Risk Management Committee, Strategic Committee, and Compensation and Assessment Committee, each responsible for specific oversight and management functions [3][4]. Group 3: Operational Management - As of the end of 2024, the Company reported total assets of 97.384 billion RMB, with operating income of 2.144 billion RMB and net profit of 634 million RMB, indicating a strong operational performance [8][9]. - The Company maintains a non-performing loan ratio of 0, reflecting effective risk management and credit practices [8]. Group 4: Regulatory Compliance - The Company has not identified any significant deficiencies in its financial reporting or risk control systems as of December 31, 2024, ensuring compliance with relevant financial regulations [9][10]. - The Company’s operations are under strict supervision by the National Financial Supervision Administration, ensuring adherence to regulatory standards [11]. Group 5: Related Party Transactions - As of December 2024, deposits from related parties amounted to approximately 16.453 billion RMB, representing 19.12% of total deposits, while loans to related parties totaled 3.779 billion RMB [9]. - The Company has effectively managed its liquidity and has not experienced any delays in payments due to cash shortages [9].

Core Viewpoint - The internal control evaluation report of China Communications Construction Company indicates that the company has maintained effective internal controls over financial reporting and has not identified any significant deficiencies in both financial and non-financial internal controls as of the evaluation date [1][2]. Internal Control Evaluation Conclusion - The company has confirmed that there are no significant deficiencies in financial reporting internal controls as of the evaluation date [2][4]. - The company has also reported no significant deficiencies in non-financial internal controls [2][4]. - There have been no factors affecting the evaluation conclusion from the evaluation date to the report issuance date [2][4]. Internal Control Evaluation Work - The evaluation scope included major units, businesses, and high-risk areas based on a risk-oriented principle [2][4]. - The total assets of the evaluated units accounted for 93.35% of the company's consolidated financial statement assets, and the total revenue of the evaluated units accounted for 96.90% of the company's consolidated financial statement revenue [4]. Internal Control Evaluation Standards - The company has established quantitative and qualitative standards for identifying deficiencies in financial reporting internal controls, with specific thresholds for major, important, and general deficiencies [5][6]. - The qualitative standards for major deficiencies include fraud by directors or senior management causing significant losses, and ineffective supervision of financial reporting internal controls [5][6][7]. Internal Control Deficiency Recognition and Rectification - The company has reported no significant deficiencies in financial reporting internal controls during the reporting period [8]. - The company has rectified general deficiencies identified in the internal control system [8].

Core Viewpoint - The company intends to reappoint Ernst & Young as its international auditor and Ernst & Young Huaming as its domestic auditor for the fiscal year 2025, ensuring compliance with relevant professional standards and regulations [1][5]. Group 1: Auditor Information - Ernst & Young Huaming was established in September 1992 and transitioned to a special partnership in August 2012, with its headquarters located in Beijing [1]. - As of the end of 2024, Ernst & Young Huaming has over 500 registered accountants who have signed audit reports for securities services [1]. - In 2023, Ernst & Young Huaming reported total audited business revenue of RMB 5.955 billion, with audit service revenue of RMB 5.585 billion and securities service revenue of RMB 2.438 billion [2]. Group 2: Client and Revenue Details - Ernst & Young Huaming audited 137 A-share listed companies in 2023, generating a total fee of RMB 905 million, covering various industries including construction, manufacturing, finance, and real estate [2]. - The firm has established a professional risk fund and purchased professional liability insurance, with a cumulative compensation limit exceeding RMB 200 million [2]. Group 3: Compliance and Quality Control - Over the past three years, Ernst & Young Huaming has not faced any criminal or administrative penalties related to its auditing practices [3]. - The project partners and signing accountants have maintained a clean record, with no criminal penalties and minimal administrative actions that do not affect their auditing quality [4][5]. Group 4: Appointment Process - The audit committee of the board has expressed confidence in Ernst & Young Huaming's qualifications and experience to conduct the 2025 audit, recommending their reappointment [5]. - The board of directors approved the proposal to reappoint Ernst & Young as the international auditor and Ernst & Young Huaming as the domestic auditor during a meeting on March 27, 2025 [5]. - The appointment is subject to approval at the company's 2024 annual general meeting and will take effect upon approval [5].

中国交通建设股份有限公司 二、审计工作监督情况 （一）监督审计计划情况。 董事会审计与内控委员会 2024 年度对会计师事务所 履行监督职责情况的报告 根据《公司法》《证券法》《上市公司治理准则》《国 有企业、上市公司选聘会计师事务所管理办法》以及中国交 通建设股份有限公司（以下简称"中国交建"或"公司"） 《公司章程》《董事会审计与内控委员会议事规则》等有关 规定，公司第五届董事会审计与内控委员会在 2024 年度对 会计师事务所履行监督职责的情况如下： 一、资质审查情况 十一会议审议通过了《关于续聘中国交建国际核数师及国内 审计师的议案》。审计与内控委员会对安永会计师事务所和 安永华明会计师事务所（特殊普通合伙） （以下简称"安永"） 及项目人员的专业资质、业务能力、投资者保护能力、诚信 状况、独立性、上年度审计工作开展情况及其执业质量等进 行了严格核查和评价。审计与内控委员会认为，安永具备从 事证券业务的资质和为上市公司提供审计服务的经验和能 力， 在公司 2023 年度报告的审计中能够遵循相关职业准则， 客观、真实、准确、全面地反映公司财务和内控状况，满足 公司 2024 年度财务报表和内部控制审计工 ...

中国交通建设股份有限公司 证券代码：601800 证券简称：中国交建 公告编号：临 2025-012 关于估值提升计划及市值管理方案的公告 中国交通建设股份有限公司（简称中国交建、本公司或公司）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。 重要提示： ? 估值提升计划触发情形：2024 年 1 月 1 日至 2024 年 12 月 31 日，公司 股票已连续 12 个月内每个交易日收盘价低于最近一个会计年度经审计的每股归 属于公司普通股股东的净资产。 ? 估值提升计划审议程序：经公司第五届董事会第四十五次会议审议通过。 ? 公司计划通过持续聚焦主责主业，提升产业体系现代化水平，持续提高 信息披露质量，提升公司透明度，优化分红政策，稳健提升股东回报等措施推动 估值提升。 ? 风险提示：本估值提升计划仅为公司行动计划，不代表公司对业绩、股 价、重大事件等任何指标或事项的承诺。公司业绩及二级市场表现受到宏观形势、 行业政策、市场情况等诸多因素影响，相关目标的实现情况存在不确定性。 一、估值提升计划的触发情形及审议程序 (一) 触 ...

Core Viewpoint - The internal control audit report for China Communications Construction Company Limited indicates that the company maintained effective internal controls over financial reporting as of December 31, 2024, in accordance with relevant regulations [1]. Group 1: Company Responsibilities - The company's board of directors is responsible for establishing, implementing, and evaluating the effectiveness of internal controls as per the Basic Norms for Enterprise Internal Control and related guidelines [1]. Group 2: Auditor Responsibilities - The auditors are responsible for expressing an opinion on the effectiveness of internal controls over financial reporting based on the audit work performed and disclosing any significant deficiencies noted in non-financial reporting internal controls [1]. Group 3: Limitations of Internal Control - Internal controls have inherent limitations and may not prevent or detect misstatements. Changes in circumstances can lead to inadequacies in internal controls, and predicting future effectiveness based on audit results carries certain risks [1]. Group 4: Audit Opinion - The auditors concluded that China Communications Construction Company Limited maintained effective internal controls over financial reporting in all material respects as of December 31, 2024, in accordance with the Basic Norms for Enterprise Internal Control and related regulations [1].