证券代码：002929 证券简称：润建股份 公告编号：2024-016 润建股份有限公司 2023 年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和 完整，没有虚假记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会无变更、否决提案的情况，不涉及变更前次股东大会决议； 2、本次股东大会采取现场投票与网络投票相结合的方式召开； 3、本次股东大会所有议案对中小投资者表决单独计票。 一、会议召开情况 1、润建股份有限公司（以下简称"公司"）于 2024 年 4 月 30 日以公告形 式发布了《关于召开 2023 年度股东大会的通知》。 2、会议召开方式：本次股东大会采取现场投票和网络投票相结合方式。 3、会议召开时间： （1）现场会议召开时间：2024 年 5 月 21 日（星期二）下午 14:30 （2）网络投票日期、时间： ①通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具 体时间为：2024 年 5 月 21 日 9:15-9:25,9:30-11:30 和 13:00-15:00； ②通过深圳证券交易所互联网投票系统 http://wltp.cninfo.c ...

致：润建股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见证 贵公司 2023 年度股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以下简称"《股 东大会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律业务 管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法律业 务执业规则》"）等相关法律、行政法规、规章、规范性文件及《润建股份有限公司章程》 （以下简称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出 席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于润建股份有限公司 2023 年度股东大会的 法律意见书 国枫律股字[2024]A0290 号 对本法律意见书的出具， ...

Financial Performance - The company achieved a revenue of 8.826 billion RMB in 2023, representing a year-on-year growth of 8.17% [6] - The net profit for 2023 was 439 million RMB, with a year-on-year increase of 3.38% [6] - Operating cash flow was 193 million RMB, indicating a positive cash flow management [13] Shareholder Returns - The company plans to distribute a cash dividend of 2.50 RMB per share (before tax), totaling approximately 69.49 million RMB, which accounts for 15.85% of the net profit for 2023 [14] - In 2023, the company utilized 105 million RMB for share repurchase [1] Accounts Receivable Management - The company reported that 91.81% of accounts receivable are aged within 2 years, primarily from state-owned enterprises with good financial conditions [2] - The company has maintained positive operating cash flow and continues to improve cash collection, with normal repayment conditions [3] Business Development and Strategy - The company is optimistic about the growth in the AI and computing power sectors, with a target of exceeding 300 EFLOPS in computing power by 2025, where intelligent computing will account for 35% [4] - The company is expanding its business in the energy sector, focusing on renewable energy projects and enhancing its service capabilities [9] - The company has established a strong customer base and is actively pursuing new partnerships to enhance its market position [7] Future Outlook - The company anticipates continued growth in revenue and profit due to a robust order backlog and strategic business expansions [8] - The company is committed to enhancing its research and development efforts, with a 17.68% increase in R&D investment in 2023, totaling 333 million RMB [10]

Investment Rating - The investment rating for the company is "Buy" (maintained) with a target price of 52.27 CNY, based on a current price of 33.90 CNY [6]. Core Insights - The company achieved a revenue of 8.826 billion CNY in 2023, representing a year-on-year growth of 8.17%. The net profit attributable to shareholders was 439 million CNY, up 3.38% year-on-year. However, in Q1 2024, the revenue decreased by 6.75% to 2.139 billion CNY, and the net profit fell by 8.71% to 127 million CNY [3][15]. - The company is focusing on enhancing its computing power services and has secured significant contracts, including a comprehensive maintenance service project with China Mobile for 2023-2026, maintaining a leading market share in 15 out of 21 provinces [4][14]. Financial Performance Summary - In 2023, the company reported a revenue of 8.826 billion CNY, with a growth rate of 8.17%. The EBITDA was 579 million CNY, and the net profit was 439 million CNY, with a growth rate of 3.39% [16]. - The forecast for 2024-2026 indicates revenues of 10.852 billion CNY, 13.153 billion CNY, and 15.457 billion CNY, with respective growth rates of 22.95%, 21.20%, and 17.52%. The net profit is expected to be 587 million CNY, 707 million CNY, and 814 million CNY, with growth rates of 33.84%, 20.48%, and 15.08% [15][16]. - The earnings per share (EPS) are projected to be 2.09 CNY, 2.52 CNY, and 2.90 CNY for 2024, 2025, and 2026, respectively, with a three-year compound annual growth rate (CAGR) of 22.89% [15]. Business Development - The company is actively developing its computing power services, having established partnerships with several supercomputing centers. It is also raising funds through convertible bonds to build a cloud computing center, which will be the largest in Guangxi [14][15]. - The company has made significant progress in its intelligent maintenance services, winning key projects and expanding its market presence in various provinces [4][14].

Investment Rating - The report maintains a "Buy" rating for the company [7][9]. Core Views - The company achieved a revenue of 8.83 billion yuan in 2023, representing a year-on-year growth of 8.2%, while the net profit attributable to shareholders was 440 million yuan, up 3.4% year-on-year [1]. - In Q1 2024, the company reported a revenue of 2.14 billion yuan, a decline of 6.8% year-on-year, and a net profit of 130 million yuan, down 8.7% year-on-year, primarily due to a high base from the previous year and the impact of the new energy business's construction rhythm [1]. - The company is focusing on high-quality customer demands in its digital business, which saw a revenue decline of 12.6% in 2023, but is expected to recover as it adjusts its strategy [2]. - The cloud services and IDC business generated 310 million yuan in revenue in 2023, marking a significant growth of 36.5% year-on-year, indicating a strong future growth trajectory in the AI era [3]. - The communication maintenance business grew steadily, achieving a revenue of 4.56 billion yuan in 2023, up 4.2% year-on-year, providing a solid foundation for the company [5]. - The new energy business experienced remarkable growth, with a revenue of 1.85 billion yuan in 2023, up 61.7% year-on-year, driven by the commencement of previously signed framework agreements [6]. Financial Summary - The company’s projected revenues for 2024, 2025, and 2026 are 10.46 billion yuan, 11.69 billion yuan, and 12.89 billion yuan, respectively, with net profits expected to be 580 million yuan, 690 million yuan, and 780 million yuan [7]. - The earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 2.07 yuan, 2.46 yuan, and 2.78 yuan, respectively [4]. - The price-to-earnings (P/E) ratio is expected to decrease from 17.0 in 2024 to 12.7 in 2026, indicating potential value appreciation [4].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price reflecting a potential upside of over 20% within the next six months [3][10][29]. Core Insights - The company achieved a revenue of 8.83 billion yuan in 2023, representing a year-on-year growth of 8.17%, and a net profit attributable to the parent company of 439 million yuan, up 3.38% year-on-year [10]. - The communication network business generated 4.56 billion yuan in revenue, growing 4.23% year-on-year, while the information network business saw a decline of 12.60% to 2.11 billion yuan, primarily due to macroeconomic pressures [1]. - The energy network business experienced significant growth, with revenue increasing by 61.71% to 1.85 billion yuan, and the computing power business grew by 36.54% to 308 million yuan, driven by the AIGC wave and expansion into large clients [1][3]. Revenue and Profit Forecast - The forecast for net profit attributable to the parent company is adjusted to 630 million yuan for 2024 and 820 million yuan for 2025, with an expected net profit of 1.04 billion yuan in 2026, corresponding to PE ratios of 16, 12, and 10 times respectively [3][10]. - The company anticipates a recovery in the information network business as the macroeconomic environment improves, which could lead to a gradual rebound in demand [1][3]. Order Backlog and Business Expansion - The company reported a year-on-year increase of over 30% in its order backlog, amounting to 16.97 billion yuan by the end of 2023, indicating strong future revenue potential [13]. - The company is actively collaborating with leading domestic computing power enterprises, enhancing its capabilities in computing power, IDC, communication, digitalization, and new energy sectors [5][31]. Financial Performance Metrics - The company’s gross margin for 2023 was 17.92%, with expectations for a recovery in gross margin in the upcoming quarters [11][13]. - The financial projections indicate a steady increase in operating revenue, with estimates reaching 16.72 billion yuan by 2026, reflecting a compound annual growth rate of approximately 22.38% [34].

为便于广大投资者全面深入了解润建股份有限公司（以下简称"公司"）所 处行业状况、发展战略、生产经营、财务状况等相关情况，进一步加强投资者关 系管理，增进公司与投资者的沟通与交流，公司定于2024年5月10日（星期五） 下午15:00-17:00召开2023年度业绩说明会。本次年度业绩说明会将采用网络远程 的方式举行，投资者可登陆全景网"投资者关系互动平台"（https://ir.p5w.net） 参与本次年度业绩说明会。 出席本次年度业绩说明会的人员有：公司副董事长、总经理许文杰先生，公 司董事、董事会秘书罗剑涛先生，财务总监黄宇先生，独立董事黄维干女士。 为充分尊重投资者、提升交流的针对性，投资者可于2024年5月9日（星期四） 17:00前访问https://ir.p5w.net/zj/，进入问题征集专题页面向公司提问。公司将通 过本次2023年度业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进 行回答。欢迎广大投资者踊跃参与。 证券代码：002929 证券简称：润建股份 公告编号：2024-011 润建股份有限公司 关于举行 2023 年年度报告网上业绩说明会的公告 本公司及董事会全体成员保证信 ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥2,138,565,885.69, a decrease of 6.75% compared to ¥2,293,413,116.59 in the same period last year[5] - Net profit attributable to shareholders was ¥127,477,634.30, down 8.71% from ¥139,636,382.34 year-on-year[5] - The net cash flow from operating activities was -¥1,436,317,854.57, representing a decline of 15.33% compared to -¥1,245,376,520.14 in the previous year[10] - The company’s basic earnings per share decreased by 23.33% to ¥0.46 from ¥0.60 in the same period last year[5] - Total comprehensive income amounted to 118,337,402.54, a decrease from 138,126,239.97 in the previous period[36] - The net profit for the first quarter of 2024 was CNY 118,269,490.98, down from CNY 138,184,640.19 in the same period last year, reflecting a decline of approximately 14.5%[56] - The company reported a total revenue of CNY 141,398,807.46 for the quarter, compared to CNY 170,433,014.66 in the previous year, marking a decrease of about 17%[56] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,616,377,306.29, a decrease of 1.60% from ¥14,853,290,162.37 at the end of the previous year[5] - Total assets amounted to CNY 14.62 billion, while total liabilities were CNY 8.49 billion, resulting in total equity of CNY 6.13 billion[33] - The company's cash and cash equivalents decreased by 61.11% to ¥746,469,694.89 from ¥1,919,422,862.55 at the beginning of the period[8] - The cash and cash equivalents at the end of the period were 721,658,025.81, down from 1,187,335,130.07 in the previous period[38] - The company’s total equity attributable to shareholders increased to CNY 6.05 billion from CNY 5.89 billion in the previous year[33] Operational Changes - Accounts receivable increased by 9.61% to ¥5,911,016,658.65, influenced by factors such as the Spring Festival holiday and client budget approvals[8] - The company reported a significant increase in construction in progress, rising 34.77% to ¥588,890,846.39 due to ongoing investments in cloud computing centers[8] - The company’s inventory increased to CNY 1.79 billion, up from CNY 1.74 billion year-on-year, indicating a focus on maintaining stock levels[30] - The company has adjusted its customer and product structure, laying a solid foundation for future business expansion[48] Cash Flow and Financing - Cash flow from operating activities showed a net outflow of -1,436,317,854.57, compared to -1,245,376,520.14 in the previous period[37] - Cash flow from financing activities generated a net inflow of 292,639,147.29, down from 505,324,527.69 in the previous period[38] - The company received cash inflow from investment activities totaling 124,888,727.84, a significant decrease from 744,433,432.04 in the previous period[37] - The company reported a significant reduction in financial expenses, with a decrease of 116.41% to -1,888,327.77 due to the completion of convertible bond conversion[41] Strategic Initiatives - The company plans to continue expanding its artificial intelligence strategy and adjust its business strategies according to the macroeconomic environment[27] - The company is committed to enhancing its new business development efforts to ensure sustainable growth[27] - The company is focusing on the "dual carbon strategy" to promote the implementation of renewable energy and virtual power plant projects, with a positive outlook for future growth[48] - The company aims to provide green computing power services as part of its strategy to align with national environmental goals[48] - The company has launched the "One City, One Calculation" computing power center service strategy, rapidly expanding its computing service business[48] Cost Management - The company’s gross profit margin for Q1 2024 was impacted by a decrease in operating costs, which totaled CNY 1.97 billion compared to CNY 2.10 billion in the previous year[34] - Research and development expenses increased by 2.34% to 71,007,853.04, driven by higher personnel costs to enhance competitive advantage[41] - Sales expenses decreased by 25.93% to 61,356,515.22, attributed to improved operational efficiency and cost control[41] - Research and development expenses for the first quarter were CNY 71,007,853.04, slightly up from CNY 69,381,069.20 in the previous year, indicating continued investment in innovation[56] Future Outlook - The company reported a year-on-year increase of over 30% in backlog orders, indicating strong future demand[27] - The company experienced a temporary fluctuation in its energy network business due to delays in large-scale renewable energy projects, but expects a positive outlook moving forward[48]

Financial Performance - The company achieved operating revenue of 8.826 billion yuan in 2023, representing a year-on-year growth of 8.17%[4] - Net profit attributable to shareholders was 439 million yuan, an increase of 3.38% compared to the previous year[4] - The gross profit margin for the maintenance business was 17.92%, while the energy network business saw a significant increase of 61.71% in revenue[14] - The company reported a net cash flow from operating activities of 193 million yuan, reflecting healthy cash generation capabilities[4] - The net cash flow from operating activities decreased by 56.00% to ¥192,880,598.14 in 2023 from ¥438,369,904.25 in 2022[44] - The company reported a total of ¥109,000.00 million raised through the issuance of convertible bonds, with a net amount of ¥108,022.30 million after deducting fees[38] - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users, reaching 5 million users by the end of Q3 2023[91] - Revenue for the fiscal year 2023 was reported at $1.2 billion, representing a 15% increase compared to the previous year[92] - The company reported a total income of 11,288,657.52, 13,761,762.42, and 20,881,786.54 for the respective periods[198] Research and Development - Research and development investment reached 333 million yuan, up 17.68% year-on-year, indicating a strong commitment to innovation[4] - The number of R&D personnel increased to 1,743 in 2023, representing a 14.00% growth compared to 1,529 in 2022[42] - R&D investment amounted to ¥332,760,245.26 in 2023, up 17.10% from ¥284,174,011.43 in 2022, with R&D investment accounting for 3.77% of operating revenue[43] - The R&D personnel ratio increased to 27.85% in 2023 from 25.60% in 2022, indicating a strategic focus on innovation[42] - The company has established 6 global R&D centers and 15 R&D bases, with over 1,500 R&D personnel and approximately 900 million RMB invested in R&D over the past three years, resulting in over 800 intellectual property rights obtained[60] - The company is focusing on developing new products and technologies, particularly in the fields of AI and smart energy solutions[170] - The company has developed a proprietary generative AI industry model development platform named "Qu Chi," enhancing its competitive edge in AI services[179] Business Expansion and Strategy - The communication network business continued to grow steadily, while the energy and computing network sectors experienced rapid growth, becoming key drivers of overall business expansion[4] - The company is expanding its business in the ASEAN region, leveraging the policy advantages of the China (Guangxi) Free Trade Pilot Zone[9] - The company aims to enhance its market share in the telecommunications sector and expand its service offerings to operators, focusing on improving operational efficiency[56] - The company plans to leverage its integrated computing power services to capitalize on opportunities in artificial intelligence and computing network sectors[57] - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[94] - The company completed a strategic acquisition of a tech startup for $100 million, aimed at bolstering its capabilities in artificial intelligence[94] Financial Management and Governance - The company has established a complete internal audit system to strengthen internal supervision and risk control, ensuring compliance with national laws and regulations[80] - The company has a dedicated financial accounting department and internal audit team, ensuring a complete financial management system[86] - The company emphasizes effective communication with investors through various channels, enhancing transparency and trust[80] - The company has a clear strategy for market expansion and product development, focusing on enhancing shareholder value through effective governance and management practices[125] - The company established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring efficient operation and clear responsibilities[98] - The company has a dedicated human resources department, ensuring independent management of labor, personnel, and compensation systems[104] Risks and Challenges - The company faces risks related to reliance on major customers and management challenges due to rapid growth[89] - The company faces risks including market competition, reliance on major customers, management risks from rapid growth, technology and product update risks, and goodwill impairment risks[148] Shareholder Engagement - The company held 3 shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders, especially minority shareholders[75] - The first extraordinary general meeting of 2023 had an investor participation rate of 69.07% on February 3, 2023[120] - The annual general meeting for 2022 had an investor participation rate of 63.49% on May 29, 2023[120] - The company reported no rejected proposals during the shareholder meetings, indicating strong support for management decisions[120] - The company continues to prioritize transparency and shareholder engagement through regular meetings and disclosures[120] Asset Management - The company has not sold any significant assets during the reporting period, maintaining its asset base[54] - The company has not utilized ¥25,959.07 million of the raised funds as of December 31, 2023, with ¥15,000 million allocated for working capital[38] - Total assets as of the end of 2023 reached ¥14,853,290,162.37, representing a 16.69% increase compared to the end of 2022[159] - Net assets attributable to shareholders of the listed company amounted to ¥5,894,134,365.72, reflecting a 35.83% increase from the end of 2022[159] Operational Efficiency - The company is implementing a standardized and digitalized management approach to enhance operational efficiency and reduce management risks[65] - Operational efficiency initiatives have led to a 5% reduction in costs, contributing to improved profit margins[91] - The company is focusing on green computing services, integrating computing power with green electricity, in response to rising energy consumption in computing[180] Compliance and Regulation - The company strictly adhered to information disclosure regulations, ensuring timely and accurate communication with investors, maintaining confidentiality of unpublished information[101] - The company has implemented a robust internal control system to ensure compliance with laws and regulations[102]

Group 1: Company Overview - Runjian Co., Ltd. is a leading provider of digital intelligent operation and maintenance (AIops) services and a top software enterprise in China, aiming to become a leader in AI industry models and computing power services [1] - The company focuses on computing power services and data services, utilizing its self-developed "Quchi" generative AI industry model development platform to create competitive industry models, products, and solutions [1] Group 2: Business Development - The company has established multiple computing power center projects, including the National Supercomputing Center in Shenzhen and the China-ASEAN AI Computing Center, gaining recognition from top industry clients [2] - The computing power scheduling platform allows for dynamic monitoring of resource usage, optimizing resource utilization rates, and managing heterogeneous computing resources [2] - The company has implemented computing clusters with configurations such as 64 machines (512 cards) and 128 machines (1,024 cards), supporting high-speed inter-machine communication [2] Group 3: Green Computing Initiatives - Runjian is advancing its computing centers towards a "green era," developing energy management and green energy products to reduce operational energy consumption and emissions [2] - The company has successfully applied its products in various industries, including telecommunications, military, and healthcare, promoting green computing development [2] Group 4: Strategic Partnerships - The company has formed strategic partnerships with major players like Alibaba Cloud and NVIDIA to enhance its computing power services and AI model development [3] - Recent collaborations include the establishment of the China-ASEAN Computing Server Cluster and the AI Innovation Empowerment Center [3] Group 5: AI and Digital Twin Technologies - The "Quchi" AI open platform, developed by the company, supports multi-modal capabilities and is designed for various intelligent algorithms in visual, voice, and text domains [4] - The company is leveraging digital twin technology to provide simulation and predictive capabilities across various industries, enhancing decision-making processes [5] Group 6: Virtual Power Plant and Overseas Expansion - The RunDoBidder virtual power plant utilizes AI and monetization trading technology to optimize distributed energy resources and maximize revenue [6] - The company is successfully expanding its overseas business, focusing on digitalization, computing power services, and green energy in ASEAN markets [6]