CHINA RAILWAY(00390)2023-08-30 12:24Financial Performance - For the six months ended June 30, 2023, total revenue reached RMB 590,766 million, an increase of 5.4% compared to RMB 560,587 million in the same period of 2022[5]. - Gross profit for the period was RMB 50,906 million, up 9.4% from RMB 46,550 million in the previous year[5]. - Net profit attributable to shareholders was RMB 16,239 million, representing a 7.4% increase from RMB 15,115 million in 2022[5]. - Basic earnings per share increased to RMB 0.605, compared to RMB 0.551 in the same period last year, marking a growth of 9.8%[5]. - The profit before tax was RMB 22.972 billion, reflecting a year-on-year growth of 4.9%[21]. - The net profit for the period was RMB 18.264 billion, up 8.7% compared to the previous year[21]. - The asset-liability ratio stood at 74.7%, effectively managed within the annual budget target[21]. - The effective corporate income tax rate for the first half of 2023 was 17.4%, down from 19.2% in the same period last year, reflecting a decrease of 1.8 percentage points[62]. Revenue Breakdown - The infrastructure construction segment generated RMB 526,649 million in revenue, reflecting a growth of 6.2% from RMB 495,908 million in 2022[5]. - The engineering construction segment saw new contracts of 929.17 billion RMB, a significant increase of 43.3% year-on-year[37]. - Revenue from infrastructure construction contracts for the six months ended June 30, 2023, was RMB 507,323 million, contributing significantly to total revenue of RMB 590,766 million for the same period[160]. - Revenue from real estate development for the six months ended June 30, 2023, was RMB 20,919 million, reflecting the company's ongoing activities in this sector[160]. - The design consulting segment generated revenue of RMB 9.622 billion, a 4.2% increase, but the profit before tax margin decreased to 7.9% from 10.1% due to increased R&D expenses[65]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 1,702,733 million, a 5.6% increase from RMB 1,613,135 million at the end of 2022[6]. - Total liabilities increased to RMB 1,271,955 million, up 6.9% from RMB 1,190,266 million at the end of 2022[6]. - Current assets were reported at RMB 938,560 million, reflecting a 4.5% increase from RMB 898,566 million at the end of 2022[6]. - The company's debt-to-asset ratio was 74.7% as of June 30, 2023, up from 73.8% at the end of 2022, indicating a slight increase in leverage[80]. Shareholder Information - The number of ordinary shareholders as of the end of the reporting period was 513,852[9]. - The largest shareholder, China Railway Engineering Group Co., Ltd., holds 11,623,119,890 shares, representing 46.96% of the total shares[10]. - HKSCC Nominees Limited decreased its holdings by 302,000 shares, now holding 4,009,290,922 shares, which is 16.20% of the total[10]. - The total number of shares held by the top ten unrestricted shareholders is 11,458,725,890 shares[12]. Contracts and New Business - The company achieved new contract value of RMB 1,273.75 billion, representing a year-on-year growth of 5.1%[21]. - Domestic new contract signing amounted to 1,189.39 billion yuan, also reflecting a year-on-year increase of 5.1%[32]. - The overseas new contract signing reached 84.36 billion yuan, with a year-on-year growth of 5.7%[32]. - The company secured contracts worth approximately ¥418.48 million for the Guangdong Water Resource Allocation Project, with a contract duration from March 2023 to August 2030[125]. Operational Efficiency and Governance - The company is focusing on enhancing its governance structure and implementing a new round of state-owned enterprise reforms to improve decision-making efficiency[34]. - The company has established a risk management and internal control system to monitor and warn against major risks, ensuring overall risk control[83]. - The company continues to focus on strategic financial management and operational efficiency to enhance shareholder value[183]. Environmental and Social Responsibility - The company achieved ISO14001 environmental management system certification, enhancing its environmental management capabilities[132]. - The company is committed to promoting green development and low-carbon projects, focusing on energy resource conservation and ecological protection[134]. - The total carbon dioxide emissions in the first half of 2023 were 808.28 million tons, with a density of 0.1429 tons per 10,000 yuan, reflecting a reduction of 3.5% year-on-year[135]. Future Outlook - The company plans to expand its market presence through strategic acquisitions and new product developments in the infrastructure and real estate sectors[154]. - The company is preparing for its A-share listing on the Shanghai Stock Exchange and H-share listing on the Hong Kong Stock Exchange, as part of a restructuring initiative[145].