2025-03-28 11:45Financial Performance - The company's operating revenue for 2024 was CNY 1,157,439,041, a decrease of 8.20% compared to CNY 1,260,841,083 in 2023[36]. - The net profit attributable to shareholders for 2024 was CNY 27,886,745, reflecting a decline of 16.71% from CNY 33,482,775 in 2023[36]. - The net cash flow from operating activities decreased by 26.88% to CNY 28,051,091 in 2024 from CNY 38,363,495 in 2023[36]. - The total assets increased by 23.34% to CNY 2,256,413,630 at the end of 2024, compared to CNY 1,829,439,189 at the end of 2023[36]. - The basic earnings per share for 2024 was CNY 1.085, down 16.15% from CNY 1.294 in 2023[37]. - The weighted average return on equity decreased to 9.09% in 2024 from 11.81% in 2023, a reduction of 2.72 percentage points[37]. - The company reported a net profit of CNY 7,481,215 in Q1 2024, with a significant cash outflow of CNY -68,065,449 from operating activities[41]. - The net profit attributable to shareholders for Q4 2024 was CNY 7,317,035, showing a recovery from previous quarters[41]. - The total equity attributable to shareholders increased by 6.67% to CNY 354,714,424 at the end of 2024 compared to CNY 332,533,508 at the end of 2023[39]. - The company achieved a new contract amount of 2,715.18 billion RMB in 2024, a year-on-year decrease of 12.4%[47]. - Total operating revenue for the company was 1,160.31 billion RMB, down 8.17% year-on-year[47]. - Net profit for the company was 30.758 billion RMB, representing a year-on-year decline of 18.28%[47]. - The EBITDA for the company was 72.29 billion RMB[47]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.78 per 10 shares, totaling approximately RMB 4.40 billion (including tax) based on a total share capital of 24,741,008,919 shares[4]. Technological Advancements and Innovation - The company has achieved significant technological advancements, including the delivery of the world's first large-diameter tunnel boring machine capable of climbing steep slopes and a 2,000-ton self-elevating offshore wind power installation platform[25]. - The company has focused on innovation, achieving the highest number of national science and technology awards among state-owned construction enterprises[26]. - The company has been recognized for its technological innovations, winning multiple national awards for key engineering projects and technological breakthroughs[91]. - The company has 35 key national R&D projects progressing smoothly, focusing on intelligent construction and green low-carbon technologies[50]. - The company has been awarded 132 national science and technology progress and invention awards, holding a total of 44,967 patents[94]. Market Position and Recognition - The company ranked 35th in the Fortune Global 500 and 9th in the Fortune China 500[47]. - The company has been recognized as an A-level listed company by the Shanghai Stock Exchange for 16 consecutive years[47]. - The company ranked 112th in the "2024 Global Most Valuable Brands 500" list, highlighting its brand strength and market position[91]. - The company has been recognized as the second largest engineering contractor globally in the ENR "Top 250 Global Contractors" list for 2024[98]. Social Responsibility and Environmental Initiatives - The company has engaged in various social responsibility initiatives, including energy conservation and environmental restoration projects, winning awards for green construction technology[27]. - The company is actively pursuing green transformation and has integrated green concepts into all aspects of its development, with several projects recognized for their green construction standards[96]. - The company is committed to increasing clean energy supply, with a target of 3.73 million kilowatts of new renewable energy capacity added in 2024, a 23% increase year-on-year[62]. Business Segments and Performance - The engineering construction segment, the company's core business, recorded a new contract value of 18,710.1 billion RMB, down 16.9% year-on-year[72]. - The design consulting segment's new contract value was 258.2 billion RMB, reflecting a decline of 7.0% year-on-year[75]. - The emerging business segment grew by 11.3% year-on-year, with a new contract value of 4,257.4 billion RMB[67]. - The company's equipment manufacturing business signed new contracts worth 57.1 billion yuan, a year-on-year decrease of 17%[77]. - The water conservancy and hydropower business signed new contracts worth 1,042.4 billion yuan, a significant increase of 50% year-on-year[88]. - The clean energy business secured new contracts totaling 1,200.3 billion yuan, marking a year-on-year growth of 22.6%[88]. - The ecological and environmental protection business reported new contracts of 616.7 billion yuan, showing a year-on-year decline of 36.6%[88]. Future Plans and Strategic Initiatives - The company aims to enhance efficiency and value creation in 2025, focusing on technological innovation and the development of a modern industrial system[28]. - The company plans to focus on digital transformation and green supply chain construction in response to industry trends[62]. - The company plans to achieve a total operating revenue of approximately 1,132 billion yuan in 2025, with operating costs (including interest expenses) around 1,021.1 billion yuan, and four expenses estimated at 62.5 billion yuan[182]. - The expected new contract amount for the company is approximately 2,800 billion yuan[182]. - The company is focusing on high-quality development and aims to transform from debt-driven growth to innovation-driven growth during the 14th Five-Year Plan[179]. - The company is implementing eleven key initiatives, including strategic leadership and technological innovation, to enhance its core competitiveness[180]. Risk Management - The company faces risks including real estate investment risk, international operation risk, infrastructure investment risk, and cash flow risk[183]. - The company has established a risk management and internal control system to assess, monitor, and warn against significant risks[184]. Corporate Governance and Investor Relations - The board of directors has been recognized for best practices in corporate governance for two consecutive years by the China Association for Public Companies[187]. - The company aims to enhance its governance structure by completing the board's re-election and promoting diversity and compliance within the board[188]. - The company has issued 306 announcements and circulars in both Chinese and English throughout the year, maintaining compliance with information disclosure requirements[189]. - The company has actively engaged with investors, holding 8 performance briefings and 77 investor visits during the year[191]. - The company received multiple awards for its annual report and investor relations, including recognition as the "Best IR Hong Kong Company (A+H Shares)" for six consecutive years[191].