TJKJ(SH:600846)2025-04-25 16:10Financial Performance - The company's operating revenue for 2024 was CNY 4,173,005,022.93, a decrease of 26.44% compared to CNY 5,672,814,946.73 in 2023[22] - The net profit attributable to shareholders for 2024 was CNY 406,085,033.18, representing an increase of 6.51% from CNY 381,255,571.75 in 2023[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 269,900,141.40, down 20.30% from CNY 338,627,584.96 in 2023[22] - The net cash flow from operating activities for 2024 was CNY 524,112,195.27, a significant recovery from a negative cash flow of CNY -2,276,829,819.65 in 2023[22] - The total assets at the end of 2024 were CNY 12,163,233,742.06, an increase of 31.95% from CNY 9,218,237,237.42 at the end of 2023[22] - The net assets attributable to shareholders at the end of 2024 were CNY 4,076,547,805.03, up 6.48% from CNY 3,828,485,698.76 at the end of 2023[22] - Basic earnings per share for 2024 were CNY 0.65, a 6.56% increase from CNY 0.61 in 2023[23] - The weighted average return on equity for 2024 was 10.25%, slightly up from 10.23% in 2023[24] Investments and Acquisitions - The company completed the acquisition of 100% equity in Lu Run Real Estate through bankruptcy reorganization, gaining development rights for a new project[34] - The company successfully acquired 55% equity in Tongji Testing, extending its consulting service chain[35] - The company invested 120 million RMB in Tongji Environment to enhance its capital structure and support sustainable development[34] - The company acquired 100% equity of Shanghai Lurun Real Estate Co., Ltd. for CNY 1.115 billion, which will be included in the consolidated financial statements[67] - The company invested 16,641.79 million RMB for a 55% stake in Shanghai Tongji Testing Technology Co., with a reported loss of 1,423.50 million RMB[94] Revenue and Cost Management - The company’s main business revenue decreased by 26.46% to 4.171 billion RMB, while the main business cost decreased by 26.94% to 3.727 billion RMB[62] - The company reported a significant decrease in property development costs, down 96.04% year-over-year, amounting to CNY 79,646,437.83[65] - The company’s sales expenses decreased by 42.28% to CNY 1,110.65 million, primarily due to reduced sales commissions[69] Environmental and Social Responsibility - The company has implemented a comprehensive environmental management system, achieving ISO 14001:2015 certification across multiple subsidiaries[186] - The company has established an emergency response plan for environmental incidents, ensuring compliance with national and local regulations[183] - The company has developed a carbon management system, "Carbon 96 - Tianyou Carbon Smart Management System," to provide comprehensive carbon management consulting services[188] - The company invested RMB 10,526.37 million in environmental protection during the reporting period[159] - A total of RMB 60 million was donated to various charitable organizations, including the Tongji University Education Development Fund and the Shanghai Senior Citizens Foundation[190] - The company has implemented green office measures, including energy-efficient equipment and electronic office practices, to minimize environmental impact[188] Governance and Compliance - The company has established a governance structure that ensures compliance with relevant laws and regulations, enhancing internal control and management levels[110] - The company held one annual and one extraordinary shareholders' meeting during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[111] - The company has maintained a cash dividend payout ratio exceeding 30% of net profit attributable to shareholders for 11 consecutive years[113] - The company has established a robust internal control system, continuously improving its internal control measures to enhance risk prevention capabilities[114] - The company has not faced any penalties from securities regulatory authorities in the past three years[131] Market and Industry Trends - The total output value of the national construction industry in 2024 is projected to be CNY 32.65 trillion, with a year-on-year growth of 3.9%[41] - Over 60,000 urban renewal projects are expected to be implemented in 2024, with an investment of approximately CNY 2.9 trillion, indicating a deepening development of urban renewal in China[41] - The construction industry is accelerating its transition towards green and digital transformation, with the widespread application of BIM technology and AI project management tools[42] Research and Development - The company’s research and development expenses increased by 20.02% to 79.58 million RMB, reflecting its commitment to innovation[60] - The company has a total of 384 R&D personnel, representing 11.52% of the total workforce[72] - The company aims to enhance its R&D investment in green technology and smart industries, aligning with the national "dual carbon" development strategy to improve its main business[102] Employee and Talent Management - The company has a total of 3,334 employees, including 62 executives, 2,950 production and technical personnel, and 201 administrative staff[142] - The company is committed to a talent-driven strategy, enhancing its compensation structure to attract and retain talent while ensuring competitive pay for key positions[143] - The company plans to strengthen its talent development efforts in 2024, focusing on skill training, management training, and cultural integration[144] Safety and Quality Control - The company has established a comprehensive safety management system, emphasizing pre-planning, in-process control, and post-supervision[90] - The company has not experienced any significant engineering quality issues during the reporting period[89] - The company has a robust quality control system in place, adhering to multiple national standards for quality and environmental management[88] Shareholder Engagement - The company has actively engaged in investor relations, holding 2 performance briefings to address shareholder concerns regarding strategic planning and operations[113] - The company held a total of 8 board meetings in the year, with 4 conducted via communication methods[134] - The company’s annual general meeting on June 25, 2024, was attended by 68 shareholders representing 44.77% of the voting shares[118]