Financial Performance - The company reported a net profit of CNY 10,959,398,105.80 for the year 2021, with a beginning retained earnings of CNY 27,864,487,641.94, resulting in a total distributable profit of CNY 32,746,034,404.99 by year-end[5]. - The company's operating revenue for 2021 was CNY 1,020,010,179, representing a 12.05% increase compared to CNY 910,324,763 in 2020[27]. - Net profit attributable to shareholders for 2021 was CNY 24,690,556, a 10.26% increase from CNY 22,392,983 in 2020[27]. - The net profit after deducting non-recurring gains and losses was CNY 22,429,809, reflecting a 9.07% increase from CNY 20,564,157 in 2020[27]. - The company's total assets at the end of 2021 were CNY 1,352,970,006, an 8.87% increase from CNY 1,242,792,799 in 2020[27]. - Basic earnings per share for 2021 were CNY 1.60, up 6.67% from CNY 1.50 in 2020[29]. - The weighted average return on net assets decreased to 11.10% in 2021 from 11.45% in 2020, a decline of 0.35 percentage points[29]. - The net cash flow from operating activities for 2021 was negative CNY 7,303,911, compared to positive CNY 40,109,248 in 2020[27]. - The total profit amounted to CNY 35.1514 billion, reflecting a year-on-year growth of 11.63%[46]. - The net profit was CNY 29.3152 billion, with a year-on-year increase of 14.03%[46]. Dividend Distribution - A cash dividend of CNY 2.46 per 10 shares (including tax) was proposed, totaling CNY 3,340,567,209.00, which accounts for 15.37% of the distributable profit attributable to ordinary shareholders[5]. - After the dividend distribution, the remaining undistributed profit was CNY 28,755,266,132.12, which will be carried forward to the next year[5]. Risk Management - The company has identified significant risks including operational compliance, investment, safety, pandemic control, and debt risks, which investors should be aware of[7]. Compliance and Audit - The financial report for 2021 was prepared in accordance with the Chinese Accounting Standards and has been audited by Deloitte Huayong, receiving a standard unqualified opinion[5][8]. - All board members have confirmed the authenticity, accuracy, and completeness of the annual report[6]. Company Achievements and Recognition - China Railway Construction Corporation Limited ranked 3rd in the 2021 ENR list of the world's largest contractors and 42nd in the Fortune Global 500[19]. - The company has accumulated 24,896 patents and received 87 national science and technology awards[19]. - The company has been recognized with 490 national quality engineering awards and 157 Luban awards[19]. Business Operations and Strategy - The company operates in 138 countries and regions globally, covering all 32 provinces and municipalities in China[19]. - The company aims to provide one-stop comprehensive services and is focused on becoming a world-class integrated construction industry group[19]. - The company has established a leading position in high-altitude railways, high-speed railways, highways, bridges, tunnels, and urban rail transit engineering[19]. - The company emphasizes the integration of new development concepts and aims to meet the needs of national economic and social development[19]. - The company has a strong focus on research and development, with a complete industry chain from planning to operation and maintenance[19]. - The company is committed to quality construction and aims to enhance its reputation as a trusted construction enterprise[19]. Contracting and Revenue Growth - In 2021, China Railway Construction Corporation achieved a new contract signing amount of RMB 2,819.6516 billion, representing a year-on-year growth of 10.39% and completing 103.10% of the annual plan[41]. - The total uncompleted contract amount at the end of 2021 was RMB 4,854.8981 billion, a year-on-year increase of 12.41%[42]. - Domestic business accounted for 90.87% of new contracts signed, amounting to RMB 2,562.3513 billion, while overseas contracts accounted for 9.13%, totaling RMB 257.3003 billion[41]. Research and Development - The company has a workforce that includes 1 academician, 11 national design masters, and 261 experts receiving special government allowances[19]. - The company launched its "14th Five-Year" development strategy, focusing on becoming a world-class comprehensive construction industry group[38]. - In 2021, the company obtained 6,638 new authorized patents, including 723 invention patents[38]. - The total R&D investment accounted for 1.99% of the company's operating revenue in 2021[103]. - The number of R&D personnel reached 28,665, representing 10.71% of the total workforce[104]. Financial Position and Investments - The company's long-term equity investments increased by 39.00% to RMB 98.164 billion in 2021[117]. - The total amount of bonds payable as of December 31, 2021, was RMB 36.3602 billion, compared to RMB 34.4547 billion on December 31, 2020[141]. - The total capital commitments and investment commitments as of December 31, 2021, were RMB 57.3914 billion, up from RMB 41.2375 billion on December 31, 2020[142]. - The total amount of intangible assets pledged decreased from RMB 64.2158 billion on December 31, 2020, to RMB 50.8676 billion on December 31, 2021[146]. Real Estate Development - The company achieved a sales amount of CNY 143.2245 billion in real estate development, with a year-on-year growth of 13.20%[50]. - The company focuses on real estate development in key urban clusters such as the Yangtze River Delta and the Pearl River Delta, with a strategy emphasizing first and second-tier cities while also exploring third and fourth-tier cities[65]. - The total real estate development investment completed by the company during the reporting period was CNY 81.8488 billion, with the Southwest region accounting for CNY 21.4526 billion (26.21%) and the Yangtze River Delta region accounting for CNY 29.4246 billion (35.95%)[166]. Logistics and Supply Chain - The logistics business is expected to grow significantly, with efforts to improve procurement efficiency and reduce costs through a modern logistics system[58]. - The logistics business operates a network of regional operating points across major cities, with 1.33 million square meters of logistics space and a storage capacity of 32,550 cubic meters for finished oil products[67]. Asset Management and Investments - The overall performance in equity investments reflects a strategic focus on maintaining and growing the investment portfolio, with several key holdings showing positive returns[195]. - The company has initiated several asset-backed plans, with the 8th plan having an initial investment of RMB 29,000,000 and a holding ratio of 1.23%[199]. - The total initial investment in various asset-backed plans amounts to RMB 2,626,688,000, with a reported profit of RMB 78,393,000 during the reporting period[199].
中国铁建(01186) - 2021 - 年度财报