Financial Performance - The company's operating revenue for Q1 2022 was CNY 6,941,051,579.25, representing a year-on-year increase of 5.62%[4] - Net profit attributable to shareholders for the same period was CNY 648,016,868.11, reflecting a growth of 10.54% compared to the previous year[4] - The company's basic and diluted earnings per share for the quarter were both CNY 0.06, unchanged from the previous year[4] - Total revenue for the first quarter of 2022 was RMB 694,105.16 million, an increase of 5.62% compared to RMB 657,174.06 million in the same period last year[11] - Operating profit for Q1 2022 was ¥882,442,027.90, up 11.1% from ¥793,829,060.15 in Q1 2021[19] - Net profit for Q1 2022 was ¥738,954,833.47, representing a 11.1% increase from ¥665,058,353.81 in Q1 2021[19] - Earnings per share remained stable at ¥0.06 for both Q1 2022 and Q1 2021[20] - The total comprehensive income for Q1 2022 was approximately ¥47.37 million, a decrease of 64.4% from ¥132.86 million in Q1 2021[28] Cash Flow - The net cash flow from operating activities was negative at CNY -1,014,920,672.61, indicating a significant cash outflow[4] - Cash flow from operating activities for Q1 2022 showed a net outflow of ¥1,014,920,672.61, an improvement from a net outflow of ¥1,276,606,868.03 in Q1 2021[23] - The company's cash and cash equivalents decreased to RMB 21,746,403,908.44 from RMB 22,982,585,272.39 at the end of 2021[13] - The company's cash and cash equivalents decreased to CNY 14,803,431,403.89 by the end of Q1 2022, compared to CNY 16,228,374,979.43 at the end of Q1 2021[23] - Cash flow from financing activities in Q1 2022 resulted in a net outflow of approximately ¥1.66 billion, compared to a net outflow of ¥46.90 million in Q1 2021[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 108,938,964,150.16, showing a slight decrease of 0.00% compared to the end of the previous year[5] - The total assets as of March 31, 2022, were RMB 108,938,964,150.16, slightly down from RMB 108,942,588,838.30 at the end of 2021[14] - The total liabilities as of March 31, 2022, were RMB 62,830,792,875.50, down from RMB 63,571,212,916.84 at the end of 2021[15] - The total liabilities as of March 31, 2022, were CNY 15,772,331,798.35, a decrease from CNY 17,601,397,574.52 as of December 31, 2021[25] - The company's total equity increased slightly to CNY 33,376,485,955.78 as of March 31, 2022, from CNY 33,349,227,055.90 at the end of 2021[26] Research and Development - Research and development expenses totaled CNY 347,755,422.20, accounting for 5.01% of operating revenue, a decrease of 0.26 percentage points year-on-year[4] - Research and development expenses for Q1 2022 were ¥288,255,422.20, a decrease from ¥309,849,764.82 in Q1 2021[18] - Research and development expenses in Q1 2022 were CNY 30,844,169.06, a significant increase from CNY 58,237.89 in Q1 2021[27] Contracts and Business Operations - New contracts signed in the first quarter totaled RMB 10.09 billion, representing a growth of 33.01% year-on-year[11] - The railway sector saw new contracts amounting to RMB 2.392 billion, a decrease of 11.77% compared to the previous year[11] - The overseas business new contracts were RMB 0.03 billion, a significant decrease of 97.12% year-on-year[11] Investment Activities - The company reported a substantial increase in investment income by 657.50% due to higher returns from joint ventures[7] - The net cash flow from investment activities in Q1 2022 was -CNY 1,961,575,678.16, significantly higher than -CNY 837,417,187.91 in Q1 2021[23] - The company reported a net loss from investment activities of CNY 16,058,190.78 in Q1 2022, compared to a gain of CNY 11,199,203.41 in Q1 2021[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 96,240, with the largest shareholder holding 62.37% of the shares[8] - Shareholders' equity attributable to the parent company increased to ¥44,200,510,141.47 from ¥43,554,652,753.64 at the end of 2021[16]

2021 年年度报告 公司代码：688009 公司简称：中国通号 中国铁路通信信号股份有限公司 2021 年年度报告 1 / 288 2021 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司上市时未盈利且尚未实现盈利 □是 √否 三、 重大风险提示 请查阅本报告第四节"管理层讨论与分析"中有关风险的说明。 四、 公司全体董事出席董事会会议。 五、 安永华明会计师事务所(特殊普通合伙)为本公司出具了标准无保留意见的审计报告。 六、 公司负责人周志亮、主管会计工作负责人胡少峰及会计机构负责人（会计主管人员）张世虎 声明：保证年度报告中财务报告的真实、准确、完整。 七、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经公司第四届董事会第2次会议审议，公司拟以2021年12月31日的总股本10,589,819,000股为 基数，向全体股东每10股派发1.7元人民币(含税)的现金红利，合计1,800,269,230元人民币。本 利润分配预案尚需公司2021年度 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-on-year growth of 15%[13] - Operating revenue for the first half of the year reached RMB 17.86 billion, an increase of 22.19% compared to RMB 14.62 billion in the same period last year[22] - Net profit attributable to shareholders was RMB 1.84 billion, reflecting a 3.69% increase from RMB 1.77 billion year-on-year[22] - The net cash flow from operating activities improved to -RMB 425.94 million, a significant reduction from -RMB 972.05 million in the previous year[22] - Total assets increased by 2.34% to RMB 107.79 billion, compared to RMB 105.33 billion at the end of the previous year[22] - The company maintained a basic earnings per share of RMB 0.16, consistent with the same period last year[22] - Operating costs rose by 24.35% to ¥13,740,680,321.90 from ¥11,050,086,661.65 year-on-year[141] - R&D expenses increased by 26.12% to ¥643,409,638.89, up from ¥510,171,461.49 in the previous year[141] User Growth and Market Expansion - User data indicates a rise in active users, with a total of 2 million new users added in the last quarter, marking a 10% increase compared to the previous quarter[13] - The company is expanding its market presence, targeting an increase in international sales by 30% over the next two years[13] - The company aims to enhance its global market presence and brand influence through increased overseas investments[34] - The company is actively adjusting its market resource layout to adapt to the increasing proportion of local government-led railway construction projects[35] Research and Development - The company plans to invest 500 million RMB in research and development for new technologies in the upcoming fiscal year[13] - Research and development expenditure accounted for 4.24% of operating revenue, up from 4.09% in the previous year[22] - The company achieved a total R&D investment of approximately RMB 756.97 million, representing a 26.58% increase compared to the previous year[58] - The company added 394 new authorized patents during the reporting period, bringing the total number of effective authorized patents to 2,955[53] - The company’s R&D efforts led to the completion of 24 national and provincial-level research projects, indicating strong governmental support[53] Technology and Innovation - New product development includes the launch of an advanced Communication Based Train Control System (CBTC), expected to enhance operational efficiency by 25%[11] - The company is focusing on advanced technology research, including big data and artificial intelligence, to enhance its capabilities in rail transit control systems[27] - The company has developed a fully autonomous train control system (TACS) for Shenzhen Metro Line 20, showcasing advancements in technology[53] - The automatic train operation technology has successfully been implemented in various rail sectors, improving punctuality, stopping accuracy, and operational energy efficiency[40] Environmental Responsibility - The company reported a total of 0.62 tons of COD emissions and 0.14 tons of ammonia nitrogen emissions in the first half of 2021, maintaining reasonable levels[190] - The company generated 95.1 tons of hazardous waste during the reporting period, with all hazardous waste handled by qualified professional companies[190] - The company has completed the application for new discharge permits or registration for fixed pollution sources, ensuring compliance with national or local discharge requirements[190] - The company has significantly increased wastewater treatment capacity by upgrading and constructing new treatment facilities, enhancing monitoring of water pollution discharge indicators[192] Strategic Planning and Future Outlook - The company has set a future outlook with a revenue target of 3 billion RMB for the next fiscal year, which would represent a growth of 20%[13] - The management highlighted a focus on risk management strategies to mitigate potential impacts from macroeconomic fluctuations[7] - The company expects significant growth in the railway market in the second half of 2021, with project tenders anticipated to increase compared to the first half[130] - The urban rail transit market is projected to exceed the total volume of 2020, maintaining the tender rhythm seen in the first half[130] Corporate Governance - There are no reported instances of non-operational fund occupation by major shareholders, ensuring financial integrity[7] - The company has no plans for profit distribution or capital increase during this reporting period, focusing instead on reinvestment[6] - 王嘉杰 resigned as an independent non-executive director due to age reasons, and Guo Yonghong was appointed as a non-executive director[178] - The company did not propose any profit distribution or capital reserve transfer plans during the reporting period[184]

Market Position and Performance - In 2020, the company maintained a leading position in the railway sector, winning key projects such as the Lunan High-speed Railway Phase II and the Ganzhou-Shenzhen High-speed Railway Guangdong section[8]. - The market share in urban rail transit control systems significantly increased, with successful bids for major projects including Shenzhen Metro Line 20 and Wuhan Metro Line 16[8]. - The company reported a stable market operation despite the challenges posed by the pandemic, focusing on maintaining production and market stability[8]. - In 2020, the company's operating revenue was CNY 40.12 billion, a decrease of 3.65% compared to 2019[24]. - The net profit attributable to shareholders was CNY 3.82 billion, showing a slight increase of 0.08% from the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 3.58 billion, reflecting a growth of 2.21% year-on-year[24]. - The company signed a total of new contracts amounting to 71.452 billion yuan in 2020, representing a year-on-year growth of 1.20%[112]. - New contracts in the railway sector amounted to 26.256 billion yuan, an increase of 0.72% compared to the previous year[112]. - New contracts in the urban rail transit sector reached 13.059 billion yuan, showing a growth of 13.45% year-on-year[112]. - The company had a total order backlog of 125.284 billion yuan by the end of 2020[112]. Financial Overview - The company achieved a total profit distribution plan of RMB 2,117,963,800, proposing a dividend of RMB 2.0 per 10 shares based on a total share capital of 10,589,819,000 shares as of December 31, 2020[2]. - The profit distribution proposal is subject to approval at the company's annual general meeting for 2020[2]. - The net cash flow from operating activities was CNY 3.01 billion, down by 10.80% compared to 2019[24]. - Basic earnings per share for 2020 was CNY 0.34, a decrease of 10.53% compared to 2019[25]. - The company’s comprehensive gross profit was CNY 8.855 billion, down 7.12% from CNY 9.534 billion in the previous year[138]. - The total operating cost for 2020 was CNY 31.269 billion, a decrease of 2.63% compared to CNY 32.112 billion in the previous year[137]. - The company reported a significant increase of 67.20% in overseas business revenue, reaching CNY 915.25 million[130]. - The cash flow from operating activities decreased by 10.80% to CNY 3.01 billion[126]. - The company is experiencing longer accounts receivable collection periods due to the long construction cycles and large investments in railway and urban rail projects[122]. Research and Development - The company has made significant advancements in technology innovation, establishing the first intelligent control engineering research center for autonomous train operation in the railway industry[9]. - The company has increased R&D investment, accelerating the implementation of key core technology breakthroughs and enhancing collaborative innovation systems[9]. - R&D investment accounted for 4.32% of operating revenue in 2020, an increase of 0.47 percentage points from 2019[25]. - The total R&D investment for the year amounted to RMB 1,734,209,353.71, an increase of 8.21% compared to the previous year[73]. - The company aims to enhance its research and development investment to achieve strategic breakthroughs in product structure adjustment and key core technologies[46]. - The company has focused on key core technologies, completing the development of several industry-leading products, including the high-speed rail CTCS-3 control system and autonomous driving systems[74]. - The company holds 2,571 registered patents in China as of December 2020, protecting its core technologies in the rail transportation control system sector[48]. - The company has a cumulative total of 5,718 patent applications since 2017, with 3,963 granted[71]. - The company has completed the development of a railway freight command management system, with an investment of CNY 607.62 million in the current period[88]. Technological Advancements - All self-developed train control system products have passed the EU interoperability technical specifications certification, facilitating entry into the European market[9]. - The company is focusing on developing next-generation train operation control systems that are faster, more efficient, smarter, and safer, adapting to various transportation standards[47]. - The company has successfully applied its autonomous train operation technology in high-speed rail, intercity rail, and urban rail transit, improving punctuality and energy efficiency[51]. - The company is integrating data platform technology and graphical software to enhance the quality of software integration in rail control systems[57]. - The company’s broadband wireless communication technology based on LTE-M/R improves the efficiency and experience of cluster scheduling command systems[67]. - The company’s comprehensive video monitoring technology is widely applied in high-speed rail and urban rail transit, providing all-weather monitoring solutions[67]. - The company aims to enhance the safety and reliability of railway signal equipment through advanced technology research[88]. Market Expansion and Strategy - The company actively pursued international operations, ensuring the smooth progress of overseas projects such as the Jakarta-Bandung Railway and the Hungary-Serbia Railway[8]. - The domestic market for the company continues to grow while it accelerates its overseas expansion efforts to enhance global brand influence[45]. - The company aims to leverage technological innovation to drive high-quality development and create greater value for society and shareholders[12]. - The company is committed to adapting to new environments and changes, seizing market opportunities to strengthen its global competitive position[46]. - The company aims to expand its market influence in smart cities and intelligent transportation sectors[112]. - The company plans to actively pursue market opportunities in the low-capacity urban rail transit market[115]. - The company is focused on expanding its market presence in both domestic and international railway sectors[106]. Operational Efficiency and Challenges - The company maintains a stable and efficient business model, primarily acquiring orders through public bidding[33]. - The company is experiencing longer accounts receivable collection periods due to the long construction cycles and large investments in railway and urban rail projects[122]. - The ongoing COVID-19 pandemic has negatively impacted project progress and market development, leading to potential delays in new contracts and revenue[121]. - The company is actively pursuing market demand recovery and production resumption, leading to improved monthly operational performance[132]. - Management expenses for the year were RMB 2.06 billion, down 18.60% year-on-year, mainly due to cost-cutting measures in response to the pandemic, including strict control over personnel costs and travel expenses[146]. Corporate Governance and Social Responsibility - The company made charitable donations totaling RMB 1.2 million to local charitable organizations and impoverished county governments during the fiscal year 2020[183]. - No rights granted to directors or supervisors to purchase shares or bonds of the company or its subsidiaries[198]. - No financial, business, or familial relationships among directors, supervisors, and senior management members as of the report date[199]. - The company has purchased valid directors' insurance for its directors as of the report date[200].

Financial Performance - The company's operating revenue for 2020 was CNY 40,124,476,710.76, a decrease of 3.65% compared to CNY 41,646,286,792.57 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 3,819,046,319.02, showing a slight increase of 0.08% from CNY 3,815,874,901.39 in 2019[18]. - The net cash flow from operating activities decreased by 10.80% to CNY 3,007,375,953.08 in 2020 from CNY 3,371,360,784.87 in 2019[18]. - The total assets at the end of 2020 were CNY 105,328,082,320.59, an increase of 8.01% from CNY 97,512,591,304.36 at the end of 2019[18]. - The company's net assets attributable to shareholders increased by 3.51% to CNY 42,563,468,050.40 at the end of 2020 from CNY 41,119,607,362.50 at the end of 2019[18]. - The basic earnings per share for 2020 was CNY 0.34, a decrease of 10.53% compared to CNY 0.38 in 2019[19]. - The total non-recurring gains and losses for 2020 amounted to CNY 240,251,408.24, compared to CNY 314,592,597.06 in 2019[22]. - The company reported a net profit of CNY 1,166,901,109.06 in Q4 2020, contributing to a total annual net profit of CNY 3,819,046,319.02[21]. - The company achieved a total new contract amount of 71.45 billion yuan in 2020, representing a year-on-year growth of 1.20%[60]. - The company reported an operating income of 40.12 billion yuan in 2020, a decrease of 3.65% compared to the previous year[66]. Research and Development - The company is committed to increasing R&D investment and accelerating the implementation of key core technology breakthroughs[9]. - Research and development expenses accounted for 4.32% of operating revenue in 2020, an increase of 0.47 percentage points from 3.85% in 2019[19]. - The company achieved a total R&D investment of approximately ¥1.73 billion, an increase of 8.21% compared to the previous year[44]. - The proportion of R&D investment to operating revenue rose to 4.32%, an increase of 0.47 percentage points year-on-year[44]. - The company has developed a comprehensive rail transit control system that meets high safety, reliability, and sustainability standards, essential for the complex rail network in China[33]. - The company has undertaken 20 national and provincial-level research projects, demonstrating its commitment to innovation and industry leadership[42]. - The company is developing next-generation train operation control systems that are faster, more efficient, and smarter, focusing on automation and intelligent operation maintenance[36]. - The company has made significant advancements in the development of the autonomous driving system, achieving industry-first testing validation[42]. - The company’s R&D efforts focus on key technologies such as the CTCS-3 train control system and urban rail transit systems, ensuring comprehensive application across core railway systems[41]. Market Position and Strategy - The company achieved significant market leadership in the railway sector, winning key projects such as the Lu-Nan High-speed Railway Phase II and the Gan-Shen High-speed Railway Guangdong section[9]. - The urban rail transit control system market share increased significantly, with successful bids for major projects including Shenzhen Metro Line 20 and Wuhan Metro Line 16[9]. - The company is actively promoting mixed ownership and diversified equity reforms to enhance operational efficiency and release new corporate momentum[10]. - The company aims to leverage technological innovation to drive high-quality development and create greater value for society and shareholders in 2021[11]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and competitiveness[18]. - The company is focused on maintaining a competitive edge through innovation and strategic partnerships in the industry[182]. - The company aims to strengthen its global market leadership by focusing on quality and safety, and accelerating technological innovation[92]. - The company plans to enhance its market presence in the smart city and intelligent transportation sectors, aiming for diversified business growth[60]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its technological capabilities[186]. Corporate Governance and Commitments - The company has confirmed that its profit distribution policy aligns with its articles of association, ensuring clear standards and procedures for shareholder returns[95]. - The company reported a total remuneration of RMB 7.4 million for the audit and internal control audit services provided by Ernst & Young Hua Ming LLP for the year 2020[115]. - The company has committed to not using funds raised through the Hong Kong Stock Exchange to finance activities related to sanctioned entities or countries[111]. - The commitment to avoid competition with the parent company was confirmed on July 20, 2015, and remains effective until the parent company ceases to be the controlling shareholder[112]. - The company has outlined measures to address any failure to fulfill commitments, including public disclosure of reasons and offering alternative commitments to protect shareholder interests[108]. - The company will publicly explain any inability to fulfill commitments due to uncontrollable factors such as legal changes or natural disasters[107]. - The company has established a long-term commitment effective from April 15, 2019, with no specified expiration date[107]. Environmental and Social Responsibility - The company has implemented effective pollution control measures, including the installation of various purification systems to ensure compliance with emission standards[144]. - The company has established a monitoring system for pollutant emissions, achieving 24-hour monitoring and early warning capabilities[147]. - The company is actively involved in poverty alleviation efforts, contributing to the establishment of seven poverty alleviation industry projects and helping sell agricultural products worth RMB 1.36 million[139]. - The company has supported 82 university students and 100 orphan students through educational assistance programs, alongside training 323 grassroots poverty alleviation cadres[139]. - The company maintained a reasonable level of hazardous waste treatment, with a total of 154.6 tons processed in 2020[143]. Employee and Talent Management - The total number of employees in the parent company is 136, while the main subsidiaries employ 20,500, leading to a total of 20,636 employees[194]. - The company has established a salary system linked to economic performance and labor productivity, focusing on attracting and retaining core talent[196]. - The number of employees with a postgraduate education increased from 2,528 to 3,042, indicating a focus on higher education within the workforce[195]. - The company implemented a training plan that combined online and offline methods to enhance talent development and management capabilities[198]. - The training initiatives included global business navigation training and management training in collaboration with leading companies like Alibaba and Huawei[198]. Shareholder Information - The company plans to distribute a cash dividend of CNY 2.0 per 10 shares, totaling CNY 2,117,963,800, which represents 55.46% of the net profit attributable to shareholders for 2020[96]. - The company maintained a consistent cash dividend of 2.0 RMB per 10 shares over the past three years, with total cash dividends of 2,117,963,800.00 RMB in both 2019 and 2020[97]. - The net profit attributable to ordinary shareholders increased slightly from 3,815,874,901.39 RMB in 2019 to 3,819,046,319.02 RMB in 2020, reflecting a stable performance[97]. - The company has a total of 6,604,426,424 restricted shares remaining at the end of the year due to initial public offering restrictions[156]. - The largest shareholder, China Railway Signal & Communication Group Co., Ltd., holds 6,604,426,424 shares, representing 62.37% of the total shares[162].