CRCC(601186)2025-03-28 09:10New Contracts and Revenue - The total amount of new contracts signed reached 303.69678 billion yuan, marking a continuous three-year breakthrough of over 1 trillion yuan[3]. - The overseas new contract amount was 31.19779 billion yuan, representing a year-on-year growth of 23.39%, setting a new historical high[3]. - The engineering contracting segment accounted for 76.67% of the new contracts, totaling 232.85510 billion yuan[3]. - The total amount of new contracts signed reached 3,036.9678 billion RMB, with overseas contracts increasing by 23.39% year-on-year, setting a historical high[47]. - The total new contracts signed by the company in 2024 amounted to CNY 30,369.678 billion, achieving 101.20% of the annual plan, but representing a year-on-year decrease of 7.80%[75]. - The company achieved operating revenue of CNY 1,067.171 billion in 2024, a decrease of 6.22% year-on-year[87]. - The company's operating revenue for 2024 was CNY 1,067,171,337, a decrease of 6.22% compared to CNY 1,137,993,486 in 2023[32]. Profit and Financial Performance - The net profit for the year was 13.788371 billion yuan, with a total distributable profit of 51.364222 billion yuan at year-end[11]. - The net profit attributable to shareholders for 2024 was CNY 22,215,074, down 14.87% from CNY 26,096,971 in 2023[32]. - Net profit for the year was CNY 27.0784 billion, down 16.24% compared to the previous year[87]. - The total profit for 2024 was 22,135,506 thousand RMB, a significant decrease of 16.86% from the previous year[95]. - The company reported a total tax expense of 5,396,332 thousand RMB for 2024, down 16.97% compared to 2023[111]. Research and Development - The company established a "1+9+N" technology innovation system, creating multiple open R&D platforms and achieving significant technological advancements[5]. - The company received 2,696 new invention patents, a year-on-year increase of 34%[5]. - The company has accumulated 40,638 patents and received 90 national science and technology awards, indicating strong innovation capabilities[22]. - The company’s R&D investment intensity was 2.41%, an increase of 0.06 percentage points compared to the previous year[48]. - Total R&D expenditure for 2024 was 25,733,643 thousand RMB, accounting for 2.41% of total revenue[115]. - The number of R&D personnel is 29,086, accounting for 11.02% of the total workforce[116]. Assets and Liabilities - The total assets increased by 12.02% to CNY 1,862,842,522 at the end of 2024, up from CNY 1,663,019,578 at the end of 2023[32]. - The company's net assets attributable to shareholders rose by 5.94% to CNY 328,251,080 at the end of 2024, compared to CNY 309,837,517 at the end of 2023[32]. - The company's total financial liabilities reached CNY 1,220.83 billion as of December 31, 2024[130]. - The company's leverage ratio increased from 67% in 2023 to 71% in 2024[146]. - The company's long-term borrowings increased by 42.24% to 281.386 billion RMB, primarily due to funding for PPP and BOT project investments[123]. Strategic Focus and Development - The company is focusing on six transformations: high-end, intelligent, green, refined, digital, and international, while exploring five new tracks: new infrastructure, new equipment, new materials, new energy, and new services[22]. - The company aims to become a world-class modern enterprise, reflecting its strategic vision for future growth[22]. - The company is focusing on high-quality development, emphasizing strategic innovation and reform to enhance core competitiveness[44]. - The company is actively pursuing digital transformation in supply chain finance and promoting green finance to support economic transition[64]. - The company is committed to a systematic approach to risk management, ensuring no major risks occur[45]. Subsidiaries and Market Presence - The major subsidiary, China Railway Eleventh Bureau Group Co., Ltd., achieved an operating income of RMB 95.33 billion and a net profit of RMB 2.039 billion, contributing 7.53% to the group's total net profit of RMB 27.0784 billion[199]. - The total assets of China Railway Construction Group's subsidiaries amounted to RMB 1,141.97 billion, with a combined net profit of RMB 13.98 billion during the reporting period[199]. - The group has a diverse portfolio with subsidiaries engaged in construction, real estate, consulting, logistics, and financial services, enhancing its market presence[200]. - The overall financial health of the group remains robust, supported by strong performance across its various subsidiaries in different sectors[200]. Awards and Recognition - The company has been recognized with multiple awards, including the International Tunneling Association's "Beyond Engineering Award" and the 41st International Bridge Awards[5]. - The company ranked 43rd in the 2024 Fortune Global 500, maintaining its position in the top 500 for 19 consecutive years[21].