CPEC(600339)2025-04-14 14:20Financial Performance - The company's operating revenue for 2024 reached ¥85.92 billion, an increase of 6.94% compared to ¥80.34 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥635.46 million, a decrease of 14.80% from ¥745.87 million in 2023[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥334.26 million, down 38.71% from ¥545.37 million in 2023[22]. - The net cash flow from operating activities for 2024 was -¥9.34 billion, a significant decline compared to ¥3.05 billion in 2023[22]. - The total assets at the end of 2024 amounted to ¥108.44 billion, reflecting a slight increase of 0.81% from ¥107.57 billion at the end of 2023[22]. - The net assets attributable to shareholders at the end of 2024 were ¥26.46 billion, up 1.37% from ¥26.11 billion at the end of 2023[22]. - The total operating costs amounted to CNY 78.88 billion, reflecting a year-on-year increase of 7.16%[68]. - The gross profit reached CNY 7.04 billion, with a gross margin of 8.19%, a decrease of 0.19 percentage points compared to the previous year[69]. - The company reported a net cash flow from operating activities of -CNY 9.34 billion, a significant decline from CNY 3.05 billion in the previous year[68]. - The company’s main business revenue reached CNY 85.12 billion, with a year-on-year growth of 6.99%[69]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of ¥0.35 per 10 shares, totaling ¥195.41 million for the year 2024[6]. - The cash dividend accounted for 30.75% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was CNY 635,455,194.54[167]. - The company has a cash dividend policy that prioritizes cash dividends when conditions are met, including profitability and positive distributable profits[161]. - The cumulative cash dividends over the last three fiscal years amounted to ¥642,061,959.17, with an average annual net profit of ¥700,687,797.57, resulting in a cash dividend payout ratio of 91.63%[169]. - The company has implemented a profit distribution policy that ensures at least 30% of the average distributable profit over the last three years is distributed in cash[161]. Risk Management and Compliance - There are no significant risk events reported for the period, and the company has outlined potential risks in its management discussion[8]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies[7]. - The company implemented a comprehensive risk management strategy, including compliance and project risk controls, to ensure stable development[45]. - The company is enhancing its risk management framework to navigate complex international business environments and geopolitical challenges[118]. - The company is committed to maintaining a robust governance structure and effective risk management practices[150]. Research and Development - The company’s R&D investment amounted to 2.686 billion yuan, resulting in 231 research achievements and 173 newly authorized invention patents[43]. - Research and development expenses increased by 21.56% to CNY 1.86 billion, indicating a strong focus on innovation[68]. - The proportion of R&D personnel to total employees is 20.48%, with a total of 7,869 R&D staff[87]. - The company is investing in new product development and technological advancements to drive innovation and meet market demands[136]. Market and Contract Performance - New contract value reached 125.076 billion yuan, a year-on-year increase of 14.39%, with domestic contracts accounting for 70.32% and international contracts 29.68%[36]. - The company signed new contracts in traditional oil and gas engineering totaling 90.727 billion yuan, reflecting a 14.72% increase year-on-year[36]. - New contracts in emerging businesses reached 30.476 billion yuan, a year-on-year increase of 31.44%, accounting for 24.37% of the company's overall market share[38]. - The company executed a total of 11,983 engineering projects during the reporting period, with 4,622 projects completed, showcasing its strong project delivery capabilities[40]. Environmental and Social Responsibility - The company invested ¥25,010,000 in environmental protection during the reporting period, demonstrating its commitment to ESG principles[175]. - The company has implemented measures to reduce carbon emissions and enhance energy efficiency, contributing to its green development goals[178]. - The company has developed a "Carbon Peak Implementation Plan" to outline key tasks and measures for achieving carbon peak goals, participating in national clean energy projects[179]. - The company actively participates in environmental protection activities, including tree planting and community clean-up initiatives, to promote a civilized environment[179]. Governance and Corporate Structure - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring effective checks and balances[120]. - The company held five shareholder meetings during the reporting period, with all submitted proposals approved[133]. - The company has committed to maintaining the independence of its operations, assets, personnel, and finances from its controlling shareholder, China National Petroleum Corporation[125]. - The company has implemented measures to limit competition with its controlling shareholder, ensuring that auxiliary units only engage in internal engineering construction services[128]. Future Outlook and Strategic Initiatives - In 2024, the company aims to solidify its position as a world-class energy engineering service provider, expanding its market share in emerging businesses, particularly in controlled nuclear fusion engineering[49]. - The company is focusing on high-end market transformation, emphasizing technology and management improvements in its business strategy[105]. - The company plans to enhance its green energy initiatives, including the development of green hydrogen, green alcohol, and green ammonia technologies[106]. - The company aims to achieve new contract signings of 130 billion RMB and operating revenue of 86.5 billion RMB by 2025[107].