Financial Performance - The company reported a net profit of 11,679,665 thousand RMB for the year 2023, with a beginning retained earnings of 39,435,876 thousand RMB, resulting in a total distributable profit of 44,765,270 thousand RMB by year-end[4]. - In 2023, the company's operating revenue reached RMB 1,137,993,486, representing a 3.80% increase compared to RMB 1,096,312,867 in 2022[21]. - The net profit attributable to shareholders of the listed company was RMB 26,096,971, showing a decrease of 2.19% from RMB 26,680,796 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 24,580,442, an increase of 1.88% from RMB 24,127,443 in 2022[21]. - The net cash flow from operating activities decreased significantly by 63.64% to RMB 20,412,048 from RMB 56,134,952 in 2022[21]. - The net assets attributable to shareholders of the listed company increased by 6.69% to RMB 309,837,517 from RMB 290,398,039 in 2022[21]. - Total assets grew by 9.13% to RMB 1,663,019,578 compared to RMB 1,523,913,581 in the previous year[21]. - Basic earnings per share for 2023 decreased to CNY 1.73, down 1.70% from CNY 1.76 in 2022[23]. - The weighted average return on equity for 2023 was 9.80%, a decrease of 1.27 percentage points compared to 11.07% in 2022[23]. - The total profit reached CNY 38.83 billion, up 2.65% year-on-year, while net profit was CNY 32.33 billion, reflecting a 1.68% increase[34]. Dividend Distribution - A cash dividend of 3.50 RMB per 10 shares (including tax) will be distributed, totaling 4,752,840 thousand RMB, which accounts for 20.18% of the profit available for distribution to ordinary shareholders[4]. - The company has retained 40,012,430 thousand RMB in undistributed profits to be carried forward to the next fiscal year[4]. Compliance and Audit - The audit report issued by Deloitte Touche Tohmatsu Certified Public Accountants confirms a standard unqualified opinion on the financial statements[4]. - The financial report for 2023 was prepared in accordance with the Chinese Accounting Standards, ensuring compliance with the relevant listing rules of the Shanghai and Hong Kong stock exchanges[7]. - The company has ensured that all directors can guarantee the authenticity, accuracy, and completeness of the annual report[5]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential operational risks, including international management and project management risks[6]. - The company emphasizes risk prevention and management, aiming to maintain high-quality development while ensuring safety[33]. Research and Development - The company has accumulated 35,832 patents and received 87 national science and technology awards, indicating strong R&D capabilities[16]. - The company achieved a record of 6,831 newly authorized patents in 2023, including 2,008 invention patents, representing a 65% year-on-year increase[40]. - The company led five national key research and development projects and participated in five others, marking the highest number of projects undertaken in its history[40]. - Research and development expenses rose to RMB 26,725,454, marking a 6.88% increase from RMB 25,003,936 in the previous year[78]. Market Expansion and Strategy - The company operates in 143 countries and regions, showcasing its extensive market expansion efforts[16]. - The company aims to enhance its international operations through an "overseas priority" strategy, integrating its business planning with national strategies[33]. - The company aims to enhance its service quality and develop a "trustworthy world-class comprehensive construction industry group"[16]. - The company plans to enhance its planning and design consulting services by expanding into new industries such as smart transportation and green environmental protection[56]. Infrastructure and Investment - In 2023, the national fixed asset investment (excluding rural households) reached CNY 503,036 billion, with a year-on-year growth of 3.0%[48]. - Infrastructure investment grew by 8.24% year-on-year, with significant increases in the production and supply of electricity, heat, gas, and water[48]. - The company is focusing on urban renewal, village reconstruction, and new energy sectors to enhance its investment operations[58]. - The company is actively developing green environmental projects, which are expected to become a significant growth point[63]. Financial Services and Investments - The financial services platform includes various products such as insurance brokerage and supply chain finance, aiming to create a comprehensive financial ecosystem[64]. - The company reported a total of 1,085,636 thousand RMB in investment income for the reporting period[187]. - The company continues to utilize self-owned funds for its investments, ensuring a stable funding source for its financial activities[192]. Real Estate Development - The company achieved a total sales amount of RMB 121.395 billion, with a sales area of 7,490,200 square meters during the reporting period[172]. - The total area pending recognition at the end of the reporting period was 29,158,734 square meters[172]. - The company has a total of 12,839.14 million square meters available for sale across various regions[173]. - The company has focused on acquiring land in first and second-tier cities, with 36 out of 39 plots located in these areas, accounting for 92% of total acquisitions[161]. Subsidiaries and Contributions - China Railway Construction Corporation achieved a net profit of CNY 32.3287 billion in 2023, with a significant contribution from its subsidiary, China Railway Kunlun Investment Group, which reported a net profit of CNY 3.5799 billion[196]. - The total assets of China Railway Construction Financial Co. reached CNY 115.958 billion, with net assets of CNY 13.822 billion[196]. - The company maintains a diversified portfolio with significant subsidiaries in various sectors, including industrial manufacturing and financial services[197]. Future Outlook - The company plans to issue 3.9 trillion yuan in special bonds for local governments this year to support infrastructure construction[199]. - The government will continue to implement proactive fiscal policies and stable monetary policies to stimulate economic recovery in 2024[199]. - The overall trend for economic recovery remains positive despite uncertainties in the external environment[199].
中国铁建(01186) - 2023 - 年度业绩