CGE(SZ:002542)2025-04-28 18:25Financial Performance - The company reported a plan not to distribute cash dividends or issue bonus shares for the fiscal year 2024[4]. - The company's operating revenue for 2024 was ¥1,530,103,261.30, a decrease of 39.44% compared to ¥2,526,607,818.89 in 2023[6]. - The net profit attributable to shareholders for 2024 was -¥1,384,242,851.76, representing an 87.21% decline from -¥739,394,030.79 in 2023[6]. - The total assets at the end of 2024 were ¥6,052,419,483.34, down 27.44% from ¥8,340,696,075.88 at the end of 2023[6]. - The net assets attributable to shareholders decreased by 63.43% to ¥817,361,197.72 at the end of 2024, compared to ¥2,235,202,564.89 at the end of 2023[6]. - The company reported a basic earnings per share of -¥0.77 for 2024, a decline of 87.80% from -¥0.41 in 2023[6]. - The weighted average return on equity was -91.03% in 2024, a decrease of 62.57% from -28.46% in 2023[6]. - The company experienced a significant loss in the fourth quarter of 2024, with a net profit attributable to shareholders of -¥1,191,481,634.02[25]. - The total operating revenue for 2024 was ¥1,530,103,261.30, a decrease of 39.44% compared to ¥2,526,607,818.89 in 2023[49]. - The company reported a gross margin of -1.29% for foundation treatment, down from 12.41% year-over-year[52]. Revenue Breakdown - Revenue from foundation treatment was ¥690,073,973.95, accounting for 45.11% of total revenue, down 19.67% from ¥859,035,154.16 in the previous year[49]. - Airport engineering revenue was ¥430,493,404.80, representing 28.13% of total revenue, a decrease of 9.21% from ¥474,141,382.72 in 2023[49]. - Municipal engineering revenue dropped significantly by 66.47% to ¥360,542,659.63, down from ¥1,075,236,695.76 in 2023, accounting for 23.56% of total revenue[49]. - Revenue from East China region decreased by 45.99% to 523,075,105.93, down from 968,446,744.95 in 2023[51]. - The Southwest region saw a significant decline of 71.72% in revenue, dropping to 175,916,606.65 from 622,002,850.89[51]. - The Northwest region experienced a revenue increase of 56.20%, reaching 507,674,801.66 compared to 325,019,236.09 in 2023[51]. - The company reported a significant increase in overseas revenue by 2,218.54%, reaching 47,973,947.18 compared to 2,069,141.67 in 2023[51]. Cash Flow and Financing - The net cash flow from operating activities increased significantly by 607.26% to ¥616,464,151.02 in 2024, compared to ¥87,162,900.76 in 2023[6]. - Total cash inflow from financing activities decreased by 50.04% to ¥950,989,554.00 in 2024, indicating reduced fundraising[73]. - The net cash flow from financing activities turned negative at -¥990,341,292.55 in 2024, a decline of 515.43% compared to the previous year[73]. - The company maintained a reasonable financing structure with a total debt financing amount of ¥263,676.87 million, including short-term loans of ¥58,998.94 million[42]. - The company issued convertible bonds in 2018 amounting to ¥60,366 million, with a total repayment amount of ¥64,873.46 million due by March 15, 2024[43]. Operational Developments - The company is actively expanding into cultural tourism and exploring investment opportunities across multiple sectors[31]. - The company operates the Anji Tianzi Lake General Airport, which has maintained a leading position in flight hours and operations in Zhejiang Province for four consecutive years, with 23 stationed aircraft[36]. - The company successfully hosted the Dalu Music Festival at Anji Tianzi Lake General Airport, attracting 100,000 visitors over three days, showcasing the integration of low-altitude economy and cultural tourism[36]. - The company has obtained or renewed several key operational qualifications, including a first-class foundation engineering qualification valid until December 2028[35]. - The company is enhancing its competitive position in the construction industry by leveraging its core technical advantages and strong financial capabilities to capture new market opportunities[34]. Research and Development - The company holds 109 invention patents, 252 utility model patents, and 15 design patents, enhancing its technological innovation capabilities[46]. - Research and development expenses decreased by 33.36% to ¥64,664,588.88 in 2024 from ¥97,041,846.92 in 2023[67]. - The company is developing a remote monitoring and control system for CGE series impact machines, aimed at enhancing operational efficiency in saline soil areas[68]. - The company aims to enhance its small-diameter shield construction technology through innovative methods and digital modeling, which is expected to improve operational efficiency[71]. - The company has achieved a 40% increase in pile sinking efficiency through the development of multi-frequency coupling vibration technology for large-diameter gravel piles[69]. Corporate Governance - The company has established a comprehensive remuneration and performance evaluation management system for directors, supervisors, and senior management, with salaries consisting of a basic annual salary and performance-based compensation[147]. - The company has a robust internal audit system in place to oversee daily operations and major transactions, enhancing transparency and accountability[107]. - The company has designated specific platforms for information disclosure, ensuring equal access to information for all shareholders[107]. - The company has maintained a stable shareholding structure with no reported changes in the total number of shares held by directors and supervisors[126]. - The company has committed to resolving competition issues with its controlling shareholder, including a plan to reduce overlapping business activities by March 19, 2024[172]. Environmental and Social Responsibility - The company has implemented an ISO14001 environmental management system and has achieved significant results in promoting environmental protection and energy conservation[175]. - The company has adopted various measures to reduce carbon emissions, including the use of solar energy and energy-efficient construction equipment[178]. - The company actively participated in various social welfare activities, contributing to regional high-quality development and promoting corporate social responsibility[181]. - The company has established a comprehensive environmental and safety management system, including 25 regulations and emergency response plans[176]. - The company promotes green office practices and has implemented measures for paperless operations and energy-saving initiatives[177].