1_0_11_ 中国能建 1_0 投资及其他業務 | --- | --- | --- | --- | --- | --- | |----------------|----------|----------|-------|--------|------------------------------------------------------------| | | | | | 9 | 9 清潔能源及環保水務 | | | | 工業製造 | | | | | | 工程建設 | � | | | | | | � | | | | | | 勘測設計及諮詢 | | | | | | | 9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | | | | | | 二零二零中期報告 | | | | | | ttt TF | 世界能源 中國能建 -路建設主力軍 | | | | | | | 中国能源建设股份有限公司 CHINA ENERGY ENGINEERING CO.,LTD. | | u | F P | | ...

Financial Performance - Total revenue for the first half of 2020 was RMB 105,597.2 million, a decrease of 4.04% compared to RMB 110,044.7 million in the same period of 2019[5]. - The net profit attributable to equity holders for the first half of 2020 was RMB 919.0 million, down 57.41% from RMB 2,157.6 million in the first half of 2019[5]. - The gross profit margin decreased to 11.78% in the first half of 2020 from 12.47% in the same period of 2019[5]. - The company’s basic earnings per share for the first half of 2020 were RMB 2.88, down 60.11% from RMB 7.22 in the same period of 2019[5]. - The profit before tax for the six months ended June 30, 2020, was RMB 3,502.7 million, a decline of 40.74% from RMB 5,911.2 million in 2019[46]. - Net profit for the same period was RMB 2,238.4 million, down 48.28% from RMB 4,327.6 million in 2019[46]. - Gross profit for the six months ended June 30, 2020, was RMB 12,445.0 million, a decrease of 9.21% from RMB 13,707.4 million in 2019, primarily due to revenue declines across various segments[47]. - The company reported a significant increase in contract assets, which rose to RMB 48,451,003 thousand from RMB 41,151,749 thousand, marking an increase of about 17.5%[131]. Revenue Breakdown - The company reported a decrease in revenue from clean energy and environmental water services by 21.18%, from RMB 8,332.6 million in 2019 to RMB 6,568.1 million in 2020[5]. - The engineering construction segment generated RMB 81,022.0 million in revenue, a slight decrease of 0.62% from RMB 81,526.9 million in the previous year[5]. - The operating revenue for the engineering construction segment was RMB 81.02 billion, showing a slight decline of 0.62% year-on-year, but a second-quarter increase of 12.34%[18]. - The clean energy segment generated RMB 599 million, down 7.64% year-on-year, while the environmental business saw a significant decline of 25.09% to RMB 5.190 billion[29]. - The industrial manufacturing segment's operating revenue was RMB 10.02 billion, down 7.23% year-on-year, with a second-quarter growth of 1.91%[22]. - The cement production business generated RMB 3.58 billion in revenue, a decline of 27.43% year-on-year[23]. - The investment and other businesses reported revenue of RMB 7.659 billion, a decrease of 7.19% year-on-year, but Q2 showed a recovery with a growth of 6.37%[33]. Assets and Liabilities - The company's total assets increased by 3.44% to RMB 436,173.7 million as of June 30, 2020, compared to RMB 421,670.3 million at the end of 2019[6]. - Current liabilities rose by 5.47% to RMB 237,284.2 million as of June 30, 2020, compared to RMB 224,982.0 million at the end of 2019[6]. - Non-current assets increased by 6.58% to RMB 167,329.8 million as of June 30, 2020, compared to RMB 156,993.3 million at the end of 2019[6]. - The total equity increased by 2.22% to RMB 115,810.4 million as of June 30, 2020, compared to RMB 113,290.4 million at the end of 2019[6]. - As of June 30, 2020, the company's total liabilities amounted to RMB 320,363.3 million, with a debt-to-asset ratio of 73.45%, an increase of 0.32 percentage points from the end of the previous year[68]. - The company's total debt increased by RMB 13,003.4 million from December 31, 2019, primarily due to operational funding needs and asset acquisitions[76]. Contracts and New Business - In the first half of 2020, the company signed new contracts worth RMB 305.49 billion, representing a year-on-year increase of 10.61%[10]. - The new signed contracts for engineering construction business amounted to RMB 292.85 billion, representing a year-on-year growth of 11.10%, with a second-quarter growth of 19.54%[17]. - The surveying, design, and consulting business segment achieved new contract value of RMB 6.22 billion, a year-on-year increase of 3.48%, with Q2 showing a growth of 12.62%[11]. - The company has secured significant contracts in both domestic and international projects, including a 2x1,000 MW thermal power expansion project in Shaanxi and a 151.54 MW gas turbine power plant project in Myanmar[21]. Market Conditions and Challenges - The company faces external risks and challenges due to the ongoing global pandemic, impacting economic recovery in China[9]. - The global GDP is projected to contract by 4.9% in 2020 due to the impact of the COVID-19 pandemic[103]. - Foreign direct investment worldwide is forecasted to drop by 40% in 2020 as per the United Nations report[103]. - The company anticipates increased foreign currency revenues and expenses as it expands overseas, which may expose it to exchange rate fluctuations[90]. Operational Efficiency - Selling expenses decreased by 34.89% to RMB 805.1 million from RMB 1,236.5 million in 2019, mainly due to operational disruptions caused by the pandemic[48]. - Financial expenses decreased by 10.21% to RMB 1,696.2 million from RMB 1,889.1 million in 2019, attributed to lower borrowing rates[50]. - The company plans to maintain a prudent financial policy while improving equity and asset returns through various funding sources, including internal financing and external financing at reasonable market rates[66]. Employee and Management - The company has a total employee count of 116,996, including 35,928 management personnel and 39,013 professional technical personnel[92]. - In the first half of 2020, the company completed training for 211,800 employees, including 154,800 in job training and 7,200 in continuing education[92]. - The company implemented a salary management system that links employee compensation to performance, with a total payment of RMB 51.43 million for 87.16 million restricted stocks returned due to unmet performance conditions[94]. Future Outlook - The company plans to enhance policy environment analysis and optimize international market layout to seize recovery opportunities[103]. - The company aims to maintain stable operations and create new development opportunities in the second half of 2020[104]. - The company is focused on high-quality development of international business in line with the Belt and Road Initiative[103].

P | --- | --- | --- | --- | --- | |----------------|------------|----------|----------------------|------------------------------------------------------------| | | | 工業製造 | 清潔能源及環保水務 9 | 9 | | | | 9 | | | | 勘測設計及諮詢 | 工程建設 � | | | | | 9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 二零一九年度報告 | | | | | ttt | 世界能源 中國能建 路建設主力軍 | | | | | | 中国能源建设股份有限公司 CHINA ENERGY ENGINEERING CO.,LTD. | | F | F UT | | | (在中華人民共和國註冊成立的股份有限公司) 股份代號：3996 | F 1_037 college com 投资及其他業務 公司簡介 本公司成立於2014年12月19日，是由 ...

Revenue and Profit - Total revenue for the first half of 2019 reached RMB 110,044.7 million, an increase of 8.40% compared to RMB 101,520.1 million in the same period of 2018[5] - The total profit for the period was RMB 4,327.6 million, representing a year-on-year increase of 3.54%[5] - The gross profit for the first half of 2019 was RMB 13,707.4 million, reflecting a 9.18% increase from RMB 12,554.4 million in the same period of 2018[31] - The net profit for the six months ended June 30, 2019, was RMB 4,327,571 thousand, compared to RMB 4,179,617 thousand in the previous year, representing an increase of 3.5%[108] - Total comprehensive income for the six months ended June 30, 2019, was RMB 4,490,474 thousand, an increase from RMB 3,219,505 thousand in the same period of 2018, representing a growth of approximately 39.5%[109] Segment Performance - The engineering construction segment generated RMB 81,526.9 million in revenue, reflecting a growth of 6.86% year-on-year[5] - The industrial manufacturing segment saw a significant increase of 17.99%, with revenue reaching RMB 10,795.6 million[5] - The clean energy and environmental water services segment reported a decline of 9.07%, with revenue of RMB 8,332.6 million[5] - The industrial manufacturing segment reported operating revenue of RMB 10.796 billion, a year-on-year increase of 17.99%[23] - The clean energy and environmental water business reported operating revenue of RMB 8.333 billion, a decline of 9.07% year-on-year, while water business revenue surged 186.68% to RMB 0.078 billion[25] Contracts and Backlog - The company signed new contracts worth RMB 12.03 trillion in the first half of 2019, a year-on-year increase of 2.47%[7] - The total value of contracts on hand as of June 30, 2019, was RMB 36.40 trillion, reflecting an 8.53% increase year-on-year[7] - In the first half of 2019, the company's new contract value reached RMB 276.19 billion, representing a year-on-year increase of 7.12%[11] - The company reported a backlog of uncompleted contracts in the surveying and consulting business amounting to RMB 32.15 billion, reflecting a growth of 3.18% compared to the end of 2018[19] - The total uncompleted contract amount for engineering construction as of June 30, 2019, was RMB 1,171.689 billion, an increase of 14.07% compared to the end of 2018[21] Assets and Liabilities - Total assets as of June 30, 2019, amounted to RMB 402,226.3 million, up 3.30% from RMB 389,385.5 million at the end of 2018[6] - Current liabilities decreased by 3.67% to RMB 218,005.1 million compared to RMB 226,312.8 million at the end of 2018[6] - Non-current liabilities increased by 18.47%, reaching RMB 80,452.3 million[6] - The company's total liabilities as of June 30, 2019, amounted to RMB 298,457.4 million, with a debt-to-asset ratio of 74.20%, down from 75.56% at the end of the previous year[51] - The total debt as of June 30, 2019, was RMB 113,496.2 million, compared to RMB 111,988.6 million at the end of 2018[52] Cash Flow and Financial Management - Operating cash flow for the six months ended June 30, 2019, was a net outflow of RMB 7,459.6 million, a decrease of RMB 9,277.6 million or 55.43% compared to the same period in 2018[45] - Investment cash flow for the six months ended June 30, 2019, was a net outflow of RMB 5,599.3 million, a decrease of RMB 2,129.5 million or 27.55% compared to the same period in 2018[47] - Financing cash flow for the six months ended June 30, 2019, was a net inflow of RMB 3,868.1 million, a decrease of RMB 16,359.8 million or 80.88% compared to the same period in 2018[48] - The total cash and cash equivalents at the end of June 30, 2019, was RMB 38,868.8 million, down from RMB 43,638.7 million at the end of June 30, 2018[44] - The company reported a net cash inflow from investment activities of RMB 477,634 thousand, up from RMB 309,879 thousand year-on-year[119] Employee and Training - The company plans to train 230,200 employees in 2019, with actual training completed reaching 240,100, including 164,100 in job training and 18,100 in continuing education[79] - The company has 120,063 employees as of June 30, 2019, including 36,140 management personnel and 39,815 professional technical personnel[79] Strategic Initiatives and Market Position - The company aims to strengthen its market position in traditional power sectors while expanding into new energy and non-electric engineering markets[19] - The company continues to leverage its full industry chain advantages to enhance its international market presence, particularly along the "Belt and Road" initiative[14] - The company plans to invest significantly in three areas: enhancing core business competitiveness, acquiring high-end companies in non-electric sectors, and accelerating overseas investments, particularly in the "Belt and Road" initiative[82] - The company aims to enhance its market presence in non-electric construction sectors, including urban infrastructure and smart city projects, which have significant market potential[87] Compliance and Governance - The company has complied with all provisions of the Corporate Governance Code as of June 30, 2019[99] - The audit committee reviewed the interim financial results and reports as of June 30, 2019, on August 30, 2019[101] - The company reappointed KPMG as its international auditor for the fiscal year 2019[102] Financial Reporting and Accounting Changes - The company adopted IFRS 16, which requires all leases to be capitalized, impacting the accounting treatment of leases starting from January 1, 2019[127] - The transition to IFRS 16 did not have a significant impact on the financial statements as a lessor[130] - The cash flow statement will show significant changes in cash flow presentation due to the capitalization of leases, although total cash flow remains unaffected[143] Economic Environment and Market Outlook - The overall economic growth target for China in 2019 is set at 6%-6.5%, reflecting a stable economic environment conducive to the company's operations[83] - Since 2018, international trade and cross-border investment have slowed due to rising trade protectionism, but the global economy is slowly recovering, and the trend of economic globalization remains unchanged[88]

HIDS 能 能 th 略 # 图 中 � 大洋洲 @ 中國 @ 亞洲 @ 非洲 @ 歐洲 � 南美洲 年度報告 世界能源 中國能建 中国能源建设股份有限公司 CHINA ENERGY ENGINEERING CO.,LTD. (在中華人民共和國註冊成立的股份有限公司) 股份代號：3996 中国能建 ENERGY CHINA CCF 7 h 7 n n h ③ 水力發電 ③ 火力發電 HUS 界能 市 in q mill � 核能發電 9 新能源 0 輪變電和變電 能者善為 建則善成 宣示高端精湛丶科學權威的高度自信。 表達創世界品牌丶鑄世紀豐碑的高遠志向。 4 b 4 l II 房地產開發 機場和港航 公路和橋 o 鐵路 能 图 中 ELEASELME aa GABOODD D D N WWOOM ao o o ○ o o 00 � 0 市政工作 裝備制造及维修 建築工程相關服務 在 產業投資和營運 共赢致和 行穩致遠 共赢是成就事業之基，致和是全面發展之魂。 行穩是永葆基業常青之根,致遠是打造百年企業之道。 公司簡介 本公司成立於2014年12月19日，是由中國能源建設集團有限公司（國務院國有資產監督管理 ...