CNCEC(SH:601117)2014-04-15 16:00Financial Performance - The company's operating revenue for 2013 was CNY 61.73 billion, an increase of 14.04% compared to CNY 54.13 billion in 2012[24] - The net profit attributable to shareholders for 2013 was CNY 3.36 billion, representing an 8.91% increase from CNY 3.08 billion in 2012[24] - The net profit after deducting non-recurring gains and losses was CNY 3.29 billion, up 9.18% from CNY 3.01 billion in the previous year[24] - The total assets at the end of 2013 reached CNY 71.45 billion, a 20.91% increase from CNY 59.09 billion at the end of 2012[24] - The net assets attributable to shareholders increased to CNY 21.06 billion, reflecting a 17.02% growth from CNY 17.99 billion in 2012[24] - The basic earnings per share for 2013 was CNY 0.68, up 7.94% from CNY 0.63 in 2012[25] - The weighted average return on equity for 2013 was 17.15%, down from 18.48% in 2012[25] - The net cash flow from operating activities decreased by 30.95% to CNY 2.07 billion from CNY 2.99 billion in 2012[24] - The total amount of non-recurring gains and losses for 2013 was CNY 72.69 million, slightly down from CNY 74.25 million in 2012[27] Revenue and Contracts - The engineering construction segment generated revenue of 51.71 billion yuan, a 15.6% increase, accounting for 84.1% of total operating revenue[34] - Domestic revenue was 51.95 billion yuan, up 12.1%, while international revenue grew by 27.8% to 9.51 billion yuan, representing 15.5% of total revenue[36][37] - The company signed new contracts totaling 82.04 billion yuan, a decrease of 16% from the previous year, with domestic contracts accounting for 79.6% and international contracts 20.4%[40] - The total new contract value for 2013 was 82 billion RMB, which is 3.5% lower than the planned target of 85 billion RMB, while the actual revenue reached 61.46 billion RMB, exceeding the plan by 5.1%[50] Investment and R&D - The company increased its R&D expenditure to 1.256 billion yuan, a year-on-year growth of 33.5%[66] - The company applied for over 200 national patents in 2013, with significant achievements in technology innovation[67] - The company plans to invest 6.206 billion yuan in the first phase of the Qidong New Materials Industrial Park project[62] Market Expansion and Strategy - The company is actively expanding its international market presence, with operations in over 50 countries and regions[32] - The company plans to participate in multiple large-scale coal-to-natural gas and coal-to-olefins projects in regions like Ningxia and Inner Mongolia in 2014[77] - The company aims to upgrade traditional chemical processes to improve energy efficiency and reduce emissions, addressing high costs and low product value in the industry[77] Financial Management and Dividends - The company plans to distribute a cash dividend of CNY 0.10 per share, totaling CNY 493.3 million, which is 14.69% of the net profit attributable to shareholders[6] - The cash dividend policy emphasizes reasonable returns to investors, with a minimum of 30% of the average distributable profit over three consecutive years to be distributed in cash, barring special circumstances[94] - The company’s cash dividend for 2013 is lower than 30% of the net profit due to anticipated economic challenges and the need for significant capital expenditures in 2014[100] Risk Management - The company has identified five major risks, including safety incidents, macroeconomic and policy risks, core talent loss, overseas political risks, and equipment/material price fluctuations[81] - The company aims to enhance its risk management strategies, with a focus on increasing general risk reserves[197] Corporate Governance and Social Responsibility - The company has implemented democratic management practices to protect employee rights, ensuring timely payment of wages and social insurance contributions[102] - The company has emphasized social responsibility, focusing on quality engineering projects and community development initiatives[102] - The company received the "National Quality Engineering Award" for two projects, including the 60,000 tons/year formaldehyde project and the Hualu Technology Headquarters Building[105] Employee Management - The total number of employees in the parent company is 194, while the total number of employees in major subsidiaries is 45,347, leading to a combined total of 45,541 employees[157] - The company conducted over 40 training sessions throughout the year, focusing on various aspects including internal control and project management[161] Future Outlook - The company plans to achieve new signed orders of 88 billion RMB and main business revenue of 68.71 billion RMB in 2014[88] - Future guidance indicates a projected revenue growth of 5.37% for the upcoming fiscal year[197]