LJRB(SH:600853)2016-04-11 16:00Financial Performance - In 2015, the company achieved a net profit attributable to shareholders of CNY 19,914,699.08, representing a 10.56% increase compared to CNY 18,013,318.12 in 2014[2]. - The company's operating revenue for 2015 was CNY 6,716,344,654.67, which is a 20.59% increase from CNY 5,569,583,665.07 in 2014[19]. - The total profit for the period was 3,521,000 CNY, reflecting a growth of 27.97% year-over-year[44]. - The net profit reached 2,004,000 CNY, which is a 6.44% increase from the previous year[44]. - Basic earnings per share increased by 10.42% to CNY 0.0371 compared to the same period last year[20]. - The company's total revenue for Q4 2015 was CNY 2.73 billion, with a net profit attributable to shareholders of CNY 8.97 million[21]. - The company reported a net profit of CNY 272,984.71 from non-recurring gains in 2015, compared to CNY 744,701.88 in 2014[23]. - The weighted average return on equity increased by 0.2132 percentage points to 2.5003% compared to the previous year[20]. - The company reported a significant increase in cash inflows due to rising project funding and returned deposits, indicating improved operational efficiency[20]. - The overall operating revenue for the year was ¥6,716,344,654.67, reflecting a stable performance compared to the previous year[52]. - Total revenue for the year reached 6,196,916,791.2 CNY, a significant increase compared to the previous year's 5,124,188,510 CNY, marking a growth of approximately 20.93%[53]. Assets and Liabilities - The total assets of the company at the end of 2015 were CNY 7,688,485,739.33, reflecting a 12.36% increase from CNY 6,842,468,033.07 in 2014[19]. - The company's net assets attributable to shareholders at the end of 2015 were CNY 802,899,553.45, a slight increase of 1.62% from CNY 790,104,866.20 in 2014[19]. - The company's cash and cash equivalents rose to 1,034,437,222.01 CNY, accounting for 13.45% of total assets, reflecting a 35.75% increase from the previous year[59]. - Accounts receivable increased to 1,697,644,553.18 CNY, representing 22.08% of total assets, which is a 29.02% increase compared to the prior year[59]. - Inventory reached 2,987.00 million RMB, representing 38.85% of total assets, up 17.37% year-over-year, driven by an increase of 481.50 million RMB in completed but unsettled projects, which rose by 22.11%[62]. - Total liabilities rose to ¥6,877,156,659.68 from ¥6,042,457,942.47, marking an increase of approximately 13.8%[194]. - Current liabilities amounted to ¥6,238,584,075.50, up from ¥5,210,264,191.65, indicating a growth of around 19.7%[194]. - Long-term borrowings decreased to ¥446,019,067.46 from ¥594,449,313.87, a reduction of about 25%[194]. Cash Flow - The net cash flow from operating activities for 2015 was CNY 571,707,799.23, a significant recovery from a negative cash flow of CNY -405,393,023.62 in 2014[19]. - Operating cash flow net amount was 57,171,000 CNY, driven by increased cash inflows from project funding and returned deposits, indicating a strong operational performance[57]. - The company reported a significant increase in income tax expenses to 1,518,000 CNY, up 74.68% year-on-year, due to higher profits and accounts receivable[55]. Project and Market Development - The company secured 92 new projects and 137 contract segments, with a total new contract order amounting to nearly 12.4 billion CNY, marking a historical high and a 113% increase year-over-year[38]. - The total investment amount for PPP projects announced by the National Development and Reform Commission reached CNY 1.97 trillion, presenting new opportunities for the company[28]. - The company is positioned to benefit from the "13th Five-Year Plan," which aims to construct approximately 30,000 kilometers of new and upgraded highways[29]. - The company is adapting to a market trend where public-private partnership (PPP) projects are becoming increasingly important in infrastructure development[79]. - The company plans to enhance its market presence by increasing its bidding efforts in out-of-province projects, which contributed to revenue growth[49]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 0.12 per 10 shares, totaling CNY 6,441,691.90, based on a total share capital of 536,807,658 shares[2]. - The company approved a shareholder return plan for 2015-2017, which includes cash dividends, with a payout ratio of 32.35% for 2015, 29.80% for 2014, and 31.18% for 2013[87]. - The company has committed to avoiding any unfair competition with its controlling group and will take necessary measures to prevent conflicts of interest[91]. - The company has established a performance evaluation system for debt collection to ensure accountability in recovering outstanding debts[83]. - The company has maintained a governance structure that ensures equal rights for all shareholders, particularly minority shareholders, during the reporting period[162]. Risks and Challenges - The company has identified risks related to macroeconomic fluctuations, funding, and financing, which could impact project demand and cash flow[82]. - The company faces accounts receivable risks due to the long project durations and large contract amounts typical in the construction industry, leading to slower turnover and potential recovery issues[83]. - To mitigate accounts receivable risks, the company will enhance project risk assessments and customer credit management, and establish a responsibility system for debt collection[83]. Human Resources and Training - The total number of employees in the company and its main subsidiaries is 4,669, with 105 in the parent company and 4,564 in subsidiaries[155]. - The company organized 74 training sessions out of a planned 92, achieving a training rate of 80.4% with a total of 2,720 participants[158]. - The company has implemented a salary distribution method to enhance employee motivation and improve work efficiency, including piece-rate and commission-based pay for specific roles[157]. Audit and Compliance - The audit report confirmed that the financial statements fairly represent the company's financial position as of December 31, 2015[191]. - The internal control self-evaluation report was disclosed on April 12, 2016, indicating compliance with regulatory requirements[183]. - The supervisory board confirmed that all operations complied with legal regulations, with no risks identified during the reporting period[175].