SCG(SH:600170)2023-04-17 16:00Financial Performance - The company's operating revenue for 2022 was CNY 286,036,614,659.88, an increase of 1.77% compared to CNY 281,055,468,024.64 in 2021[14] - The net profit attributable to shareholders of the listed company decreased by 64.03% to CNY 1,355,684,964.02 from CNY 3,768,771,949.40 in the previous year[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 875,295,317.78, down 68.36% from CNY 2,766,382,474.89 in 2021[14] - Basic earnings per share decreased by 72.22% to CNY 0.10 in 2022 compared to CNY 0.36 in 2021[16] - The weighted average return on equity dropped to 2.86% in 2022 from 11.09% in 2021, reflecting a decline in profitability[16] - The company reported a significant decrease in investment income, which fell by 38.25% to approximately ¥1.03 billion[47] - The company reported a net profit of 2,042.08 million for 2022, reflecting a strong performance in the construction sector[120] Cash Flow and Assets - The net cash flow from operating activities was CNY 8,957,504,142.58, a decrease of 13.61% compared to CNY 10,368,337,420.31 in the previous year[14] - The total assets at the end of 2022 were CNY 366,803,619,093.24, an increase of 3.69% from CNY 353,765,891,761.73 at the end of 2021[14] - The net assets attributable to shareholders of the listed company were CNY 40,455,251,531.61, a decrease of 1.24% from CNY 40,961,565,677.84 at the end of 2021[14] - Accounts receivable decreased by 62.20% to ¥1,791,332,388.08, representing 0.49% of total assets, due to tighter collection policies[65] - Long-term equity investments increased by 43.36% to ¥8,476,140,941.34, accounting for 2.31% of total assets, attributed to increased external investments[65] Market Strategy and Expansion - The company is focusing on expanding its market presence in the Yangtze River Delta and other economically developed regions[5] - The company is committed to its "1+7+X" regional market layout strategy, targeting key cities in developed areas and emerging cities along the Belt and Road Initiative[5] - The company plans to enhance its digital transformation and technological innovation as part of its strategic initiatives moving forward[23] - The company is actively pursuing government policies aimed at boosting economic growth, enhancing its market presence[27] - The company aims to enhance its market position by actively participating in major projects and expanding its service offerings in response to market demands[104] Construction and Contracts - Total new contracts signed in 2022 reached CNY 451.687 billion, with construction business contracts accounting for 81.52% of the total[24] - The construction business accounted for 86.67% of total operating revenue in 2022, with revenue increasing by 3.70% year-on-year[49] - The company secured 55 major construction projects with a contract value exceeding 1 billion yuan in 2022, totaling 1,049.08 million yuan[25] - The company completed 80 emergency projects during the pandemic, providing 100,000 hospital beds, demonstrating its commitment to economic recovery[27] - The company has completed over 600 projects in 138 countries or regions, including significant projects like the Myanmar Zhaoji Power Station and the Thailand BNS Steel Plant[92] Profitability and Costs - Operating costs rose to approximately ¥260.17 billion, reflecting a 2.20% increase from ¥254.56 billion in the previous year[47] - The gross profit from construction operations in 2022 was 185.25 million yuan, accounting for 72.31% of the total gross profit from main operations[28] - The company's construction business gross profit margin decreased to 7.50% in 2022 from 8.21% in 2021, while the real estate development margin fell to 5.60% from 7.27%[29] - The company experienced a decline in gross profit margin due to increased costs in construction materials and labor[50] Research and Development - Research and development expenses increased by 2.95% to approximately ¥10.18 billion, compared to ¥9.89 billion in 2021[47] - The company applied for 1,129 patents and was granted 285 invention patents during the reporting period, indicating a strong focus on innovation[30] - The company has developed advanced technologies in high-performance concrete, including ultra-high pumping concrete and special concrete varieties[36] Sustainability and Social Responsibility - The company has invested CNY 155.64 million in environmental protection during the reporting period[152] - The company has established a carbon neutrality technology research center, emphasizing its commitment to sustainable development[30] - The company is actively engaged in green development initiatives, focusing on soil remediation, wastewater treatment, and sponge city projects to improve urban and rural environments[155] - The company has reduced carbon emissions by 25,400 tons through various carbon reduction measures, including the use of clean energy and advanced production technologies[156] Governance and Internal Control - The company has strengthened internal control construction and engaged professional consulting firms for self-evaluation during the reporting period[114] - The company’s governance structure effectively prevents and mitigates operational and ethical risks[114] - The company has not faced any penalties from securities regulatory agencies in the past three years[129] - The company has established a systematic internal control mechanism to manage and evaluate its subsidiaries effectively[149] Future Outlook - The company aims to achieve an operating revenue of 300 billion CNY and new contract signings of 500 billion CNY in 2023[107] - The company plans to focus on high-quality development and aims for a GDP growth of around 5% in 2023, with an emphasis on stabilizing growth, employment, and prices[100] - Future guidance suggests a projected revenue growth of approximately 10% for the next fiscal year, driven by increased infrastructure spending[122]