证券代码：000065 证券简称：北方国际 北方国际股份有限公司投资者关系活动记录表 编号：2022-07 | --- | --- | --- | --- | |----------------------|------------------------------|-----------------------------------------------------------------------------|----------------------------| | | | | | | 投资者 关系活 动类别 | √ 特定对象调研 □ 媒体采访 □ | □ 分析师会议 业绩说明会 | | | | □ 新闻发布会 □ | 路演活动 | | | | □ 现场参观 | | | | | □ 其他 | （请文字说明其他活动内容） | | | 参与单 位名称 | | 国盛证券、中信证券、天风证券、长江证券、财通证券、华 | | | 及人员姓名 | 基金、国寿养老等 60 | 泰证券、中信建投、中邮基金、交银基金、华泰资管、中欧 余家券商及机构投资者 | | | 时间 | 2022 年 8 月 30 日 ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 3,799,455,275.60, representing a 13.40% increase year-over-year[6]. - The net profit attributable to shareholders for Q3 2022 was CNY 109,803,115.11, a decrease of 49.62% compared to the same period last year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 215,459,182.05, an increase of 8.98% year-over-year[6]. - The basic earnings per share for Q3 2022 was CNY 0.11, down 59.26% year-over-year[6]. - The weighted average return on equity for Q3 2022 was 4.85%, an increase of 33.61% compared to the same period last year[6]. - The net profit for the third quarter was 622,196,907.29 CNY, an increase from 523,099,395.59 CNY in the previous year, representing a growth of approximately 18.93%[39]. - The total comprehensive income for the period was 581,455,521.40 CNY, compared to 553,389,425.47 CNY in the same quarter last year, indicating an increase of about 5.06%[41]. - The total revenue from sales of goods and services was 10,107,650,944.50 CNY, compared to 7,120,000,151.48 CNY in the same quarter last year, marking an increase of about 42.00%[42]. - The company incurred a total operating profit of 756,490,779.34 CNY, which is an increase from 604,225,568.00 CNY in the previous year, representing a growth of approximately 25.19%[39]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to CNY 22,271,454,501.11, reflecting a 15.13% increase from the end of the previous year[6]. - The equity attributable to shareholders at the end of Q3 2022 was CNY 7,763,803,762.80, up 24.97% from the end of the previous year[6]. - The total assets of the company reached ¥22,271,454,501.11, up from ¥19,343,811,173.90, reflecting a growth of 10%[34]. - The total liabilities increased to ¥13,742,764,621.51 from ¥12,501,904,125.91, which is an increase of 9.9%[30]. - The equity attributable to shareholders rose to ¥7,763,803,762.80 from ¥6,212,420,236.08, showing an increase of 25%[34]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 113,177,915.24, a decrease of 88.45% year-over-year[6]. - Cash flow from operating activities generated a net outflow of -113,177,915.24 CNY, an improvement from -980,283,387.33 CNY in the previous year[45]. - The company’s investment activities resulted in a net cash outflow of -413,594,339.74 CNY, compared to -929,178,224.37 CNY in the previous year, indicating a reduction in cash outflow[45]. - The company’s financing activities generated a net cash inflow of 1,564,019,646.55 CNY, a significant increase from 336,556,168.46 CNY in the previous year[45]. - The company reported cash and cash equivalents at the end of the period amounting to 4,221,821,073.17 CNY, up from 3,166,074,685.68 CNY year-over-year[48]. - The company's cash and cash equivalents increased to ¥4,254,251,479.58 from ¥3,747,063,221.77, representing a growth of 13.5%[24]. Investments and Expenses - The company's long-term equity investments increased by 30.83% to CNY 1,442,385,993.21 due to additional capital contributions to a subsidiary[12]. - The company's short-term borrowings rose by 88.83% to CNY 1,216,981,524.50, primarily due to new working capital loans[12]. - Research and development expenses for the quarter were ¥15,119,652.75, compared to ¥11,644,822.50 in the previous year, indicating a year-over-year increase of 29.5%[35]. - Financial expenses decreased by 716.74% to -¥452,414,602.66, primarily due to increased foreign exchange gains[15]. - The company reported a financial expense of -¥452,414,602.66, a significant change from the previous year's expense of ¥73,356,106.14[35]. - Investment income decreased by 100.64% to -¥177,341.25, mainly due to reduced gains from forward foreign exchange settlements[15]. Other Financial Metrics - Trading financial liabilities increased by 635.45% to ¥2,578,925.37, primarily due to changes in the fair value of forward foreign exchange contracts[15]. - Contract liabilities rose by 103.07% to ¥1,203,117,528.24, mainly due to increased advance payments for projects in Mongolia[15]. - Tax payable increased by 111.94% to ¥176,571,254.54, primarily due to increased income tax provisions for the Croatia wind power project[15]. - Sales revenue from goods and services received cash increased by 41.96% to ¥10,107,650,944.50, mainly due to increased coal trade receipts[15]. - The company reported a 299.40% increase in minority shareholders' profit to ¥123,451,974.44, primarily due to increased profits from non-wholly-owned subsidiaries in Croatia[15]. - The company raised a total of ¥1,167,603,823.51 from a rights issue, with 227,195,934 shares issued at ¥5.16 each[23]. - Total revenue for the third quarter reached ¥9,192,669,081.56, an increase of 18.5% compared to ¥7,751,663,181.47 in the same period last year[35]. - Total operating costs amounted to ¥8,064,173,696.37, up from ¥7,333,745,839.64, reflecting a year-over-year increase of 10%[35]. - Accounts receivable rose to ¥4,252,165,972.01, compared to ¥3,799,013,589.34, indicating an increase of 11.9%[24]. - Inventory levels increased significantly to ¥1,294,204,794.27 from ¥991,326,883.55, marking a growth of 30.6%[27].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 5,393,213,805.96, representing a 22.54% increase compared to CNY 4,401,117,764.72 in the same period last year[21]. - Net profit attributable to shareholders of the listed company reached CNY 388,941,817.73, up 41.83% from CNY 274,228,939.20 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 443,688,953.61, a significant increase of 282.94% compared to CNY 115,863,089.92 in the previous year[21]. - The company's total assets at the end of the reporting period were CNY 21,632,281,099.24, an increase of 11.83% from CNY 19,343,811,173.90 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased by 23.70% to CNY 7,685,072,897.44 from CNY 6,212,420,236.08[21]. - The basic earnings per share rose to CNY 0.46, reflecting a 27.78% increase from CNY 0.36 in the same period last year[21]. - The diluted earnings per share increased by 33.33% to CNY 0.44 from CNY 0.33 year-on-year[21]. - The net cash flow from operating activities improved to -CNY 611,589,771.79, a 33.61% improvement from -CNY 921,167,822.09 in the previous year[21]. - The weighted average return on equity was 5.75%, up from 4.65% in the same period last year[21]. Revenue Sources - The company achieved a revenue of 566 million CNY from various projects in the first half of 2022, with significant contributions from the Mongolia integrated mining project and the South Africa cross-border logistics project[40]. - The company’s subsidiaries generated a total sales revenue of 3.29 billion CNY, representing a year-on-year growth of 11.5%, while the total profit increased by 54.8% to 80.46 million CNY[43]. - The Croatia Sini Wind Power Project generated 34 million euros in sales revenue by producing 180 million kWh of electricity in the first half of 2022, capitalizing on the European energy crisis[40]. - The Lahore Orange Line project in Pakistan recorded a daily passenger flow exceeding 100,000, accumulating a total passenger count of over 40 million[41]. - The international engineering contracting business generated revenue of CNY 781 million, accounting for 14.48% of total revenue[54]. - Revenue from goods trading increased by 51.67% to ¥2,917,105,729.14, compared to ¥1,923,263,553.85 in the previous year[59]. Investment and Assets - The company's total assets included long-term equity investments of CNY 1.45 billion, up 31.65% year-on-year[55]. - The company reported a significant investment of CNY 1,348,144,167.73 during the reporting period, representing an increase of 951.47% compared to CNY 128,215,000.00 in the same period last year[73]. - The company has a total of CNY 1,134,753,529.18 in restricted assets, with major components including cash and fixed assets, which are subject to various collateral arrangements[68]. - The company incurred a loss of CNY 85,592,956.78 from fair value changes in financial assets during the reporting period[67]. - The company’s intangible assets at the end of the period were valued at CNY 25,130,131.89, with a decrease from the original value of CNY 33,715,238.90[68]. Foreign Exchange and Derivatives - The company reported a total derivative position of ¥432,180.78 million, with a significant increase of 47.68% compared to the previous period[85]. - The company has established a financial derivative trading management method to effectively control trading risks[86]. - The company only engages in derivative transactions with large commercial banks to mitigate potential legal risks[87]. - The fair value of derivatives is determined based on market prices, reflecting high market transparency and liquidity[88]. - The company’s overall foreign exchange derivatives strategy resulted in a total loss of 150.55 million CNY for the reporting period[77]. Corporate Governance and Compliance - The company has maintained a cash dividend policy for 13 consecutive years, ensuring shareholder returns[116]. - The company has established a complete quality management system and has obtained ISO9001 certification, ensuring high engineering quality standards[118]. - The company has implemented the ISO14001 environmental management system, passing annual audits to meet international environmental standards[119]. - The company has a robust supplier and customer rights protection policy, adhering to fair competition principles[118]. - The company has a long-term commitment to transparency and accuracy in information disclosure related to its operations and restructuring[124]. Strategic Initiatives - The company is actively pursuing a transformation strategy, shifting from traditional EPC contracting to integrated investment and operation models, particularly in Belt and Road regions[44]. - The company plans to enhance its development dynamics by focusing on the "Belt and Road" initiative, "dual carbon" strategy, and international cooperation in clean energy, aiming to create more landmark projects[101]. - The company is focusing on expanding its international engineering contracting capabilities, particularly in rail transport, power, and mineral facilities construction[29]. Risks and Challenges - The company faced significant overseas operational risks due to geopolitical tensions, particularly from the Russia-Ukraine conflict and intensified US-China strategic competition, impacting market expansion and project execution[99]. - The global economic recovery remains uncertain, with rising costs in raw materials, logistics, and personnel relocation, leading to increased project execution costs and heightened performance risk[99]. Related Party Transactions - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[147]. - The company has not disclosed any significant related party transactions exceeding approved limits[138]. - The company has a maximum daily deposit limit of 200,000 million RMB with related parties, with interest rates ranging from 0.37% to 1.21%[150]. - The company reported a total of 543,263.2 million RMB in deposits with related parties, with a year-end balance of 18,699.33 million RMB[150]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 39,182, with significant shareholders holding over 5% of shares[183]. - China North Industries Group Corporation holds 43.11% of shares, increasing by 99,662,794 shares during the reporting period[183]. - The company has not experienced any changes in its controlling shareholder during the reporting period[190].

Financial Performance - The company's operating revenue for Q1 2022 was ¥2,453,330,921.67, representing a 37.20% increase compared to ¥1,788,130,873.94 in the same period last year[4]. - Net profit attributable to shareholders was ¥104,901,509.11, up 54.73% from ¥67,797,580.01 year-on-year[4]. - Basic earnings per share increased by 55.45% to ¥0.1354 from ¥0.0871 in the same period last year[4]. - Net profit for the current period was ¥127,900,010.75, compared to ¥71,640,678.58 in the previous period, reflecting a 78.7% increase[31]. - Earnings per share (basic) increased to ¥0.1354 from ¥0.0871, representing a 55.0% rise[34]. - The company’s total comprehensive income for the current period was ¥113,563,105.81, compared to ¥32,912,831.67 in the previous period, showing a substantial growth[34]. Cash Flow - The net cash flow from operating activities was -¥881,411,173.44, a decrease of 67.38% compared to -¥526,590,047.17 in the previous year[4]. - Total cash inflow from operating activities was 2,113,143,389.33 CNY, slightly down from 2,118,194,207.45 CNY, a decrease of about 0.2%[38]. - Cash outflow from operating activities increased to 2,994,554,562.77 CNY, up from 2,644,784,254.62 CNY, representing an increase of approximately 13.2%[38]. - Cash flow from investing activities was -393,813,551.54 CNY, worsening from -136,003,562.26 CNY, a decline of about 189.5%[38]. - Cash inflow from financing activities was 752,659,831.36 CNY, compared to 454,429,194.04 CNY in the previous period, an increase of approximately 65.7%[38]. - The net cash flow from financing activities improved to 358,826,404.23 CNY, up from 66,881,433.97 CNY, a significant increase of about 436.5%[38]. - The ending balance of cash and cash equivalents was 2,184,342,802.43 CNY, down from 4,166,926,545.34 CNY, a decrease of approximately 47.5%[40]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,578,816,465.51, an increase of 6.92% from ¥18,310,879,301.08 at the end of the previous year[6]. - Total assets increased to ¥19,578,816,465.51 from ¥19,343,811,173.90, reflecting a growth of 1.2%[26]. - The company's total liabilities amounted to RMB 11,726,372,590.38, slightly down from RMB 11,776,446,053.91 at the beginning of the year[21]. - Total liabilities increased to ¥12,557,349,395.09 from ¥12,501,904,125.91, a growth of 0.4%[26]. - Shareholders' equity attributable to the parent company was ¥6,310,175,355.37, reflecting a 10.62% increase from ¥5,704,258,309.42[6]. - Total equity rose to ¥7,021,467,070.42 from ¥6,841,907,047.99, marking an increase of 2.6%[26]. Investments and Expenses - Long-term equity investments increased by 31.61% due to additional capital contributions to Bangladesh Rural Power-Northern International Power Co., Ltd.[11]. - The company reported a 221.54% increase in financial expenses primarily due to exchange losses[11]. - Investment income rose by 11,371.71% year-on-year, mainly due to gains from forward foreign exchange settlements[11]. - The company reported an investment income of ¥9,018,965.09, a significant recovery from a loss of ¥80,014.14 in the previous period[31]. - Research and development expenses were ¥3,824,774.03, up from ¥3,308,230.74, indicating a 15.6% increase[29]. - The company experienced a 152.2% increase in taxes and surcharges compared to the same period last year, attributed to reduced export tax rebates[11]. Inventory and Receivables - Accounts receivable increased to RMB 4,408,304,477.52 from RMB 3,799,013,589.34, marking an increase of approximately 16%[21]. - The company's inventory rose to RMB 1,070,484,533.05 from RMB 991,326,883.55, reflecting an increase of about 8%[21].

Financial Performance - The company's operating revenue for 2021 was ¥13,050,012,731.64, representing a year-over-year increase of 1.55% from ¥12,850,656,167.57 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥623,707,609.09, a decrease of 16.99% compared to ¥751,378,444.26 in 2020[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥380,102,677.73, down 39.24% from ¥625,602,408.40 in 2020[25]. - The net cash flow from operating activities for 2021 was ¥1,497,433,161.20, a significant improvement from a negative cash flow of ¥1,273,680,346.13 in 2020, marking a 217.57% increase[25]. - The total assets at the end of 2021 were ¥19,343,811,173.90, an increase of 6.98% from ¥18,081,386,015.90 at the end of 2020[25]. - The net assets attributable to shareholders at the end of 2021 were ¥6,212,420,236.08, reflecting a 10.48% increase from ¥5,623,272,841.48 at the end of 2020[25]. - The basic earnings per share for 2021 were ¥0.81, down 17.35% from ¥0.98 in 2020[25]. - The diluted earnings per share for 2021 were ¥0.78, a decrease of 13.33% compared to ¥0.90 in 2020[25]. - The weighted average return on equity for 2021 was 10.54%, down from 14.06% in 2020, indicating a decline of 3.52%[25]. Business Operations - The company has undergone several changes in its main business operations, currently focusing on international engineering contracting, domestic construction projects, heavy equipment export trade, logistics services, and new energy project development[24]. - The company ranked 81st in the ENR list of international contractors in 2021, achieving its highest position ever, and ranked 20th among Chinese companies[45]. - The company has established a strong presence in international engineering contracting, focusing on sectors such as rail transit, power, and municipal projects, with significant projects in Asia, Africa, and Eastern Europe[50]. - The company actively responded to the Belt and Road Initiative, expanding into new markets and steadily advancing integrated investment and operation projects overseas[50]. - The company’s heavy equipment export business has established good relationships in host countries, expanding sales channels primarily in Africa, Latin America, and Southeast Asia[54]. - The company has successfully completed major projects such as the Lahore Orange Line in Pakistan and the Ethiopia-Djibouti Railway, enhancing its brand reputation[44]. - The company’s domestic engineering projects have achieved significant results, linking international and domestic development[53]. Financial Management - The company’s financial statements are subject to audit by a registered accounting firm, ensuring compliance and transparency[12]. - The financing balance at the end of the reporting period included CNY 81,861.4 million in credit loans and CNY 195,867.3 million in guarantee loans[65]. - The company is transitioning from traditional EPC contracting to integrated investment and operation models, enhancing its competitive advantage in international engineering projects[64]. - The company has established a comprehensive quality management system and has not faced any major quality issues during the reporting period[67]. Research and Development - The company obtained 2 invention patents and 7 utility model patents in 2021, enhancing its technological innovation capabilities[91]. - The company completed key research projects in wind power technology and photovoltaic microgrid systems, enhancing its influence in these fields[129]. - The company is currently developing corrosion prevention technology for oil and gas pipelines, aiming to ensure stable operations in the Middle East market[129]. - The number of R&D personnel increased by 7.04% to 213 in 2021 from 199 in 2020, with the proportion of R&D staff remaining stable at 10.44%[131]. Market and Strategic Initiatives - The company is focusing on the "Belt and Road" initiative and aims to leverage its advantages in military trade and the industrial chain to enhance international engineering cooperation[193]. - The company emphasizes a development strategy that includes high-quality development, innovation-driven growth, and a focus on core responsibilities[196]. - The company plans to strengthen its market-driven, investment-led, and integrated development approach to enhance its international competitiveness[196]. - The company is exploring market expansion opportunities through strategic partnerships and joint ventures[114]. Risks and Challenges - The company identifies risks in international operations due to geopolitical tensions and the COVID-19 pandemic, which have increased uncertainty and competition in the international engineering sector[193]. - The ongoing COVID-19 pandemic has adversely impacted overseas project development, management, and operations[197]. - Increased competition in traditional markets such as Asia and Africa is becoming more pronounced[197]. - Financing difficulties are more prominent, complicating the integrated investment and construction model[197].

Financial Performance - The company's operating revenue for Q3 2021 was ¥3,350,545,416.75, representing a year-on-year increase of 12.95%[4] - The net profit attributable to shareholders for the same period was ¥217,960,977.14, a decrease of 10.82% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥197,709,099.39, down 15.33% year-on-year[4] - Operating revenue for the period reached CNY 7.75 billion, a 9.7% increase from CNY 7.06 billion in the previous year[31] - Net profit for the period was CNY 523.1 million, compared to CNY 511.3 million, indicating a growth of about 2.3% year-over-year[34] - The total comprehensive income for the period was CNY 553.39 million, compared to CNY 517.20 million, showing an increase of about 7.0% year-over-year[38] Assets and Liabilities - The total assets at the end of the reporting period reached ¥19,990,252,003.54, an increase of 10.56% from the end of the previous year[6] - The total assets of the company as of September 30, 2021, amounted to CNY 19,990,252,003.54, an increase from CNY 18,081,386,015.90 as of December 31, 2020, representing a growth of approximately 10.57%[20] - Total liabilities increased to CNY 13.25 billion, up from CNY 11.85 billion, representing a growth of approximately 11.7% year-over-year[29] - The total equity rose to CNY 6.74 billion, compared to CNY 6.23 billion, marking an increase of about 8.2% year-over-year[29] - The total assets and liabilities combined amount to approximately ¥18.08 billion, reflecting the company's financial position[57] Cash Flow - The cash flow from operating activities showed a net outflow of ¥980,283,387.33, a decline of 23.80% year-on-year[6] - The cash inflow from operating activities totaled CNY 7,875,048,185.42, an increase of 25.05% compared to CNY 6,300,916,546.17 in the previous period[41] - The net cash flow from operating activities was -CNY 980,283,387.33, an improvement from -CNY 1,286,468,657.02 in the same period last year[44] - The cash outflow from investing activities amounted to CNY 1,058,879,546.85, significantly higher than CNY 453,485,576.59 in the previous year[44] - The net cash flow from financing activities was CNY 336,556,168.46, a decrease from CNY 3,184,749,856.42 in the same period last year[44] Shareholder Information - The company's basic earnings per share for the period was ¥0.27, down 15.63% from the same period last year[6] - The company's minority shareholders' profit showed a significant increase of 1275.18% to CNY 30,909,479.25, primarily due to losses from a subsidiary in the previous year[18] - The top shareholder, China North Industries Group Corporation, holds 42.89% of the shares, with a total of 332,209,313 shares[18] Investments and Expenses - The company's long-term equity investments increased by 411.27% due to capital increase in joint ventures[12] - The company's inventory increased by 63.86%, primarily due to coal trading inventory[12] - The financial expenses rose by 271.44%, mainly due to foreign exchange losses on net assets in USD[12] - Operating costs increased to CNY 6.76 billion, up from CNY 6.00 billion, reflecting a rise of approximately 12.7% year-over-year[31] - Research and development expenses remained stable at CNY 11.64 million, compared to CNY 11.92 million in the previous year[34] - Financial expenses surged to CNY 73.36 million, up from CNY 19.75 million, reflecting an increase of approximately 271.5% year-over-year[34] Other Financial Metrics - The weighted average return on equity was 3.63%, a decrease of 0.99% compared to the previous year[6] - The company's cash and cash equivalents decreased to CNY 3,467,389,744.35 from CNY 4,939,986,258.40, a decline of about 29.88%[20] - Accounts receivable increased significantly to CNY 4,414,956,873.67, up from CNY 3,153,480,819.37, reflecting a growth of approximately 40.06%[20] - The company's inventory rose to CNY 968,557,485.75, compared to CNY 666,501,912.20, marking an increase of around 45.38%[22] - The company reported a significant increase in contract liabilities to CNY 1.01 billion, up from CNY 474.78 million, representing a growth of approximately 112.5% year-over-year[29]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 4,401,117,764.72, representing a 7.42% increase compared to CNY 4,097,030,838.28 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 274,228,939.20, a 1.73% increase from CNY 269,561,389.88 year-on-year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 56.02%, amounting to CNY 115,863,089.92 compared to CNY 263,416,881.67 in the previous year[26]. - The net cash flow from operating activities improved by 21.96%, with a net outflow of CNY 921,167,822.09 compared to CNY 1,180,324,783.31 in the same period last year[26]. - The total assets at the end of the reporting period were CNY 19,170,430,421.96, reflecting a 6.02% increase from CNY 18,081,386,015.90 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company increased by 4.93%, reaching CNY 5,900,271,281.14 compared to CNY 5,623,272,841.48 at the end of the previous year[26]. - The basic earnings per share for the reporting period was CNY 0.36, up 2.86% from CNY 0.35 in the same period last year[26]. - The diluted earnings per share decreased by 2.94%, amounting to CNY 0.33 compared to CNY 0.34 in the previous year[26]. - The weighted average return on net assets was 4.65%, down from 5.30% in the same period last year, a decrease of 0.65%[26]. Business Operations - The company signed 111 equipment procurement contracts for the 1320MW supercritical thermal power station project in Bangladesh, marking the commencement of the main project construction[46]. - The company sold 150,000 tons of coking coal in the first half of the year, despite challenges posed by the pandemic and border restrictions[46]. - The company completed the design and signed the power purchase agreement for the wind power project in Croatia, with 30 wind turbines already installed[46]. - The logistics project in Southern Africa expanded its fleet to 300 vehicles, completing 1,216 trips and transporting 49,000 tons of goods in the first half of the year[46]. - The company achieved a total electricity generation of 205 million kWh from the Laos Nam Phak Hydropower Station, reaching 49% of the annual target by June[46]. - The company is focusing on integrated project development and full industry chain integration as part of its transformation strategy[46]. - The company has established a joint venture for coal import and domestic sales in Mongolia to enhance its commodity trading operations[41]. - The company is actively expanding its international engineering contracting business, particularly in rail transit, power, and mineral facility construction[36]. - The company is committed to developing new energy projects, including solar lighting and photovoltaic power stations, to enhance its renewable energy portfolio[40]. Revenue Breakdown - The international engineering contracting business generated revenue of CNY 1.42 billion, accounting for 32.22% of total revenue[54]. - The export business sales revenue increased by 30%[50]. - The logistics automation business revenue grew by 20% year-on-year[48]. - The company exported 1,143 heavy trucks in the first half, achieving 52% of the annual target, with a year-on-year growth of 113%[48]. - Goods trading revenue increased by 41.34% to ¥1,923,263,553.85, representing 43.70% of total revenue[61]. - Freight forwarding revenue surged by 114.85% to ¥323,978,148.66, making up 7.36% of total revenue[61]. Financial Position - The company's cash and cash equivalents decreased by 6.56% to ¥3,978,928,118.85, representing 20.76% of total assets[68]. - Accounts receivable increased by 4.70% to ¥4,243,690,511.98, accounting for 22.14% of total assets[68]. - The company's inventory increased by 47.51% to CNY 983 million, primarily due to coal trade inventory[58]. - The company's long-term equity investments rose by 86.23% to CNY 273 million, mainly due to increased investment in joint ventures[58]. - The company's contract liabilities increased by 76.64% to CNY 839 million, driven by advance payments received for contract execution[58]. Risk Management - The company faces significant risks due to global economic recovery challenges, including rising debt levels and difficulties in key markets like Africa[105]. - The company emphasizes the importance of pandemic prevention measures, which have impacted project execution and market expansion efforts[105]. - The company aims to enhance its financial stability by managing foreign exchange and interest rate risks through derivative trading[99]. Corporate Governance - The company has established a complete quality management system and has passed ISO9001 and GB50430 certifications, ensuring high engineering quality standards[121]. - The company has implemented the ISO14001 environmental management system, facilitating compliance with international environmental standards and enhancing its qualifications for overseas markets[122]. - The company has maintained a good integrity status with no non-compliance issues reported[149]. Social Responsibility - The company contributed 10.5 million yuan to local farmers by purchasing 2,098 boxes of oranges to alleviate sales pressure, demonstrating its commitment to social responsibility[124]. Shareholder Relations - The company plans to raise up to RMB 1.2 billion through a public offering of shares to supplement working capital and repay loans[185]. - The company has maintained a cash dividend policy for 12 consecutive years, emphasizing shareholder returns[116]. - The company did not distribute cash dividends or implement any employee incentive plans during the reporting period[110][111]. Related Party Transactions - The company has disclosed all related party transactions in accordance with market pricing principles[151]. - The total amount of related party transactions for the year is expected to not exceed 6.521 billion CNY, including procurement and service transactions[155].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,788,130,873.94, representing a 10.29% increase compared to ¥1,621,281,497.70 in the same period last year[9]. - The net profit attributable to shareholders was ¥67,797,580.01, up 24.02% from ¥54,666,849.06 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥67,019,527.79, reflecting a 30.74% increase from ¥51,260,909.81 in the previous year[9]. - The basic earnings per share increased to ¥0.0871, a rise of 22.68% compared to ¥0.0710 in the same period last year[9]. - The diluted earnings per share rose to ¥0.0814, marking a 16.29% increase from ¥0.0700 year-on-year[9]. - The total operating revenue for the current period reached ¥1,788,130,873.94, an increase of 10.3% compared to ¥1,621,281,497.70 in the previous period[99]. - Net profit for the current period was ¥71,640,678.58, representing a significant increase of 73.6% from ¥41,279,718.24 in the previous period[102]. - Operating profit for the current period was ¥76,257,525.43, an increase of 26.4% from ¥60,340,904.71 in the previous period[102]. Assets and Liabilities - The total assets at the end of the reporting period were ¥18,310,879,301.08, a 1.27% increase from ¥18,081,386,015.90 at the end of the previous year[9]. - The total assets as of January 1, 2021, were ¥18,089,706,875.88, reflecting an adjustment of ¥8,320,859.98 due to the new leasing standards[129]. - Total liabilities increased to CNY 12,003,281,846.89 from CNY 11,854,096,876.45, reflecting a growth of approximately 1.25% year-over-year[85]. - Total equity rose to CNY 6,307,597,454.19, up from CNY 6,227,289,139.45, indicating an increase of about 1.29%[88]. - The total amount of construction in progress was reported at CNY 3.42 billion[138]. Cash Flow - The net cash flow from operating activities was -¥526,590,047.17, a slight decrease of 0.23% compared to -¥525,386,133.27 in the same period last year[9]. - Cash inflows from operating activities totaled CNY 2,118,194,207.45, an increase from CNY 1,953,074,082.45 year-over-year[116]. - Cash outflows from operating activities reached CNY 2,644,784,254.62, up from CNY 2,478,460,215.72 in the previous period[118]. - The cash and cash equivalents at the end of the period were CNY 4,166,926,545.34, down from CNY 3,648,173,804.51 in the previous year[122]. - The company reported a significant increase in cash paid to employees, totaling CNY 103,316,642.37, compared to CNY 92,753,456.92 in the prior year[116]. Investments - The company has invested 25,404.00 million in acquiring 76% of the shares of the Croatian energy project company, achieving 100% of the planned investment[60]. - The cumulative investment in the Croatian energy project for the "Seni 156MW Wind Power Project" is 15,383.55 million, representing 47.99% of the adjusted total investment of 32,052.57 million[62]. - The company raised 57,821.00 million through the issuance of convertible bonds, with a net amount of 57,456.57 million after deducting issuance costs[60]. Related Party Transactions - The company has committed to maintaining its independence and gradually reducing related party transactions[43]. - The company guarantees that its senior management will not hold operational positions in related companies, ensuring operational independence[43]. - The company has pledged to avoid and minimize related party transactions with its controlling entities[43]. - The company has established independent financial management and accounting systems to ensure financial independence[43]. - The company has confirmed that it will not accept more favorable conditions from related parties compared to independent third parties in market transactions[43]. Financial Management - The company has established a financial derivatives trading management method to effectively control trading risks[57]. - The company’s financial derivatives are primarily used for managing predictable future foreign exchange transactions, reflecting fair value based on market prices[57]. - The company has implemented risk control measures for financial derivatives trading, including careful selection of trading partners[57]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,210, with the largest shareholder holding 43.17% of the shares[15]. - The company has a total equity attributable to shareholders amounting to ¥5,623,272,841.48, remaining unchanged from the previous period[135].

Financial Performance - Net profit attributable to shareholders increased by 81.48% to CNY 244,416,532.27 for the reporting period[9]. - Operating revenue for the period was CNY 2,966,347,277.48, reflecting a 5.56% increase year-on-year[9]. - Basic earnings per share rose by 77.78% to CNY 0.32 for the reporting period[9]. - The total profit amounted to CNY 315,033,267.17, up from CNY 168,459,366.37, indicating a growth of 87.3%[101]. - The company reported a net profit margin improvement, with net income figures not explicitly stated but implied through revenue growth and cost management[95]. - The net profit for the current period was CNY 250,583,449.73, representing a 84.3% increase from CNY 135,938,634.31 in the same period last year[101]. - The comprehensive income totalled CNY 334,189,976.91, compared to CNY 141,288,639.08, an increase of 136.5%[104]. Assets and Liabilities - Total assets increased by 25.68% to CNY 18,533,246,471.64 compared to the end of the previous year[9]. - The total liabilities increased to CNY 12,505,901,081.51, compared to CNY 9,292,062,384.79 in the previous year, representing a growth of 34.5%[85]. - The non-current liabilities totaled CNY 4,462,902,747.81, significantly higher than CNY 1,352,513,266.73 from the previous year, reflecting a growth of 229.5%[85]. - The total current assets increased to approximately ¥13.37 billion as of September 30, 2020, from ¥10.70 billion at the end of 2019, reflecting a growth of 24.8%[79]. - The company reported a total equity of CNY 5,454,041,830.68, with retained earnings of CNY 2,902,967,516.00[157]. Cash Flow - The net cash flow from operating activities was negative at CNY -106,143,873.71, a decrease of 52.28% compared to the previous year[9]. - Cash inflows from operating activities totaled CNY 6,300,916,546.17, slightly up from CNY 6,288,145,692.85, indicating a marginal increase of 0.20%[134]. - Cash outflows from operating activities increased to CNY 7,587,385,203.19 from CNY 7,360,527,640.82, resulting in a net cash flow from operating activities of CNY -1,286,468,657.02, which is a decline compared to CNY -1,072,381,947.97 in the previous period[134]. - The net cash flow from investing activities was CNY -451,669,599.82, worsening from CNY -309,200,886.98 year-over-year[137]. - The net cash flow from financing activities increased by 3009.14% year-on-year, mainly due to new borrowings[27]. Shareholder Information - The company reported a total of 30,232 common shareholders at the end of the reporting period[16]. - The largest shareholder, China North Industries Group Corporation, holds 43.17% of the shares[18]. Government and Subsidies - The company received government subsidies amounting to CNY 11,017,043.46 during the reporting period[10]. Investment and Projects - The company is currently executing the Bangladesh 2X660MW coal-fired power station project, with confirmed revenue of approximately ¥2.51 billion to date[66]. - The company has several ongoing projects in Iran, including the Ahvaz light rail project valued at $476 million and the Tehran Metro Line 6 project valued at €348 million, which are yet to commence[63]. - The company has shifted its fundraising investment strategy for the Croatian energy project to provide loans instead of equity investment due to difficulties faced by foreign shareholders[59]. Related Party Transactions - The company committed to avoiding and reducing related party transactions with North International, ensuring fair pricing comparable to independent third parties[38]. - The company guarantees the independence of North International's management, ensuring that key executives do not hold operational roles in the company or its subsidiaries[40]. - The company will not engage in any business that competes with North International in civil engineering contracting, except under specific conditions[43]. - The company has pledged to maintain the independence of North International's assets, finances, and operations, ensuring no interference from the parent company[42]. Financial Reporting and Accounting - The company has implemented new revenue and leasing standards starting January 1, 2020, affecting the presentation of certain financial items[160]. - The company adjusted its financial reporting to reflect completed construction contracts as contract assets, enhancing transparency[160]. - The company has not undergone an audit for the third quarter report[170]. Research and Development - Research and development expenses increased to CNY 3,478,582.30, compared to CNY 2,452,620.04, reflecting a rise of 41.7%[106]. - Research and development expenses were ¥11,922,221.26, up from ¥11,285,773.60, marking an increase of approximately 5.65%[115].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥4,097,030,838.28, representing a 7.31% increase compared to ¥3,818,092,472.90 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 25.29% to ¥269,561,389.88 from ¥360,791,456.66 year-on-year[21]. - The net cash flow from operating activities was negative at ¥-1,180,324,783.31, a decline of 38.87% compared to ¥-849,936,916.17 in the previous year[21]. - Basic earnings per share fell by 25.53% to ¥0.35 from ¥0.47 in the same period last year[21]. - The company's operating costs increased by 16.78% year-on-year, totaling CNY 3.541 billion[73]. - The company’s R&D investment was CNY 84.44 million, a decrease of 4.41% compared to the previous year[75]. - The company reported a net increase in cash and cash equivalents of ¥238,201,754.07, a 119.14% increase compared to the previous period[79]. - The company’s total liabilities increased significantly, with long-term borrowings rising by 182.48% to ¥2,551,788,940.00[79]. - The company reported a total of RMB 11.404 billion in related party transactions, with sales of goods and services accounting for RMB 10.29 billion[161]. Assets and Investments - Total assets increased by 15.08% to ¥16,969,865,118.67 from ¥14,746,104,215.47 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company rose by 2.69% to ¥5,129,775,707.85 from ¥4,995,597,219.43 at the end of the previous year[21]. - Long-term receivables increased by 29.58% to ¥1,643,110,620.98, primarily due to deferred payment sales[79]. - The total investment during the reporting period was ¥279,402,852.66, a significant increase of 3,221.97% compared to the same period last year[98]. - The company completed capital increases in several subsidiaries, including an investment of ¥204,000,000.00 in Inner Mongolia Mandula Port Trade Co., Ltd., acquiring a 60% stake[100]. Market and Business Operations - The company's core business is international engineering contracting, focusing on sectors such as rail transit, power, and oil and mineral facilities, with significant projects in Asia, Africa, and the Middle East[34]. - The international engineering contracting business generated revenue of CNY 1.969 billion, accounting for 48.08% of total revenue[73]. - The company achieved a remarkable 187.15% increase in construction projects in progress, driven by the development of the Croatia wind power project[45]. - The company is actively expanding its market presence in the renewable energy sector, focusing on solar energy projects and products[43]. - The company has established a significant international logistics service, providing specialized logistics solutions for cross-border projects[39]. Risk Management and Challenges - The company highlighted potential risks in its future development outlook, urging investors to be cautious[5]. - The company has identified 10 major risks, including political risk and compliance risk, and has detailed 41 secondary risks with corresponding preventive measures[130]. - The company is facing significant external challenges, including increased geopolitical tensions and economic uncertainties affecting international trade[130]. - The company emphasizes the importance of risk management and has strengthened its lean management across the entire value chain[130]. Corporate Governance and Compliance - The company has committed to providing accurate and complete information regarding its restructuring efforts, with ongoing compliance[132]. - The company has ensured that its target assets are legally owned and free from any encumbrances or disputes[132]. - The company has pledged to avoid and reduce related party transactions with North International and will ensure fair pricing in such transactions[138]. - The company guarantees that key management personnel of North International will not hold operational positions in the company or its subsidiaries, ensuring independence[140]. Projects and Contracts - The company signed an operation and maintenance contract for the Lahore Orange Line project in Pakistan with a contract value of USD 260 million[59]. - The company has secured a significant contract for the supply of 1,008 carbon steel subway cars in Tehran, valued at 11.217 billion RMB[187]. - The company is involved in multiple ongoing projects, including a 1.5 billion USD irrigation and flood management project in Laos[187]. - The company has a contract for the construction of a coal-fired power plant in Bangladesh, with a total value of 1.574 billion USD[190]. - The company has a contract for the construction of a natural gas polypropylene chemical plant in Iran, valued at 10.13 billion RMB[190].