ycec(SH:600248)2021-05-28 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥127.72 billion, representing a year-over-year increase of 22.18% compared to ¥104.54 billion in 2019[26]. - Net profit attributable to shareholders for 2020 was approximately ¥2.83 billion, an increase of 83.95% from ¥1.54 billion in 2019[26]. - Basic earnings per share for 2020 was ¥0.8988, up 83.95% from ¥0.4886 in 2019[27]. - The total assets of the company reached approximately ¥181.97 billion by the end of 2020, reflecting a 25.29% increase from ¥145.24 billion in 2019[26]. - The weighted average return on equity for 2020 was 26.42%, an increase of 6.67 percentage points from 19.75% in 2019[27]. - The company reported a net cash flow from operating activities of approximately -¥2.67 billion for 2020, slightly improved from -¥2.66 billion in 2019[26]. - The company reported a total of ¥7.58 million in government subsidies recognized in 2020, compared to ¥3.20 million in 2019[31]. - The total revenue for the company reached ¥127.20 billion, representing a year-over-year increase of 7.65%[71]. - The construction engineering segment generated ¥118.20 billion in revenue, with a year-over-year growth of 24.13%[71]. - The gross profit margin improved to 7.65%, an increase of 0.74 percentage points compared to the previous year[74]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.62 per 10 shares, totaling RMB 232,579,986.08, based on a total share capital of 3,751,290,098 shares[8]. - The company proposed a cash dividend of RMB 0.62 per 10 shares for the year 2020, totaling RMB 232,579,986.08, which represents 8.22% of the net profit attributable to ordinary shareholders[146]. - For the year 2019, the cash dividend was RMB 0.2 per 10 shares, amounting to RMB 18,359,053.44, which accounted for 6.21% of the net profit attributable to ordinary shareholders[146]. - The cash dividend for 2018 was RMB 1.0 per 10 shares, totaling RMB 91,795,267.20, which was 32.62% of the net profit attributable to ordinary shareholders[146]. - The company has established a complete decision-making and supervision mechanism for its dividend distribution[146]. - The company’s cash dividend distribution plan for 2020 is pending approval from the shareholders' meeting[146]. - The company has made amendments to its dividend policy to align with its strategic goals and shareholder returns[145]. Audit and Compliance - The company received a standard unqualified audit report from Tianzhi International Accounting Firm[7]. - The board of directors and senior management confirm the accuracy and completeness of the financial report[6]. - There are no significant risk events reported during the reporting period, and potential risks are detailed in the report[10]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[10]. - The company has no violations of decision-making procedures for external guarantees[10]. - The company has established priority purchase rights for potential competitive assets and business opportunities that may arise in the future[169]. - The company guarantees that it will not engage in any business activities that compete with the main business of the listed company and its subsidiaries[161]. Market and Industry Trends - The construction industry is expected to experience significant growth due to government policies aimed at infrastructure development and urban renewal[129]. - The company anticipates increased demand in the construction sector driven by new infrastructure projects, including 5G and renewable energy facilities[131]. - The competitive landscape in the construction industry is intensifying, with a trend towards polarization between leading firms and smaller players[134]. - The company is focusing on sustainable development and eco-friendly construction practices to align with national ecological goals[131]. - The company is exploring opportunities in rural revitalization and urban renewal projects, which are highlighted as key areas for growth in the "14th Five-Year Plan"[131]. Strategic Initiatives - The company plans to achieve a contract signing amount of 320 billion RMB and an operating income of 140 billion RMB in 2021[137]. - The company aims to enhance its core competitiveness and brand influence in the construction sector through a main business optimization strategy[136]. - The company will focus on expanding its market share both domestically and internationally, particularly in high-speed rail, subways, airports, and energy chemical sectors[139]. - The company intends to strengthen its investment management and risk control mechanisms to improve investment returns[139]. - The company will accelerate technological innovation and focus on green construction, energy conservation, and smart building technologies[139]. Asset Management and Restructuring - The company completed a significant asset restructuring by absorbing and merging with the original Shaanxi Construction Group, enhancing its competitive advantages in the construction sector[47]. - The company holds a 100% stake in Shaanxi Construction Engineering Co., with total assets of ¥17,231,495.93 million and a net profit of ¥273,750.11 million[127]. - The proposed transaction involves assets that are clear in ownership and free from any pledges, mortgages, or third-party claims, ensuring smooth transfer before registration under the listed company[196]. - The company has committed to compensating any economic losses incurred by the listed company due to pre-existing contingent liabilities related to the assets being sold[199]. Human Resources and Innovation - The company has over 10,000 mid-to-senior technical professionals, including 2,583 with senior titles, ensuring a strong talent pool for project execution[51]. - The company has 2,382 R&D personnel, making up 7.51% of the total workforce[83]. - Research and development expenses totaled ¥589.48 million, accounting for 0.46% of total revenue[80]. - The company has achieved a 267% completion rate for its annual patent application plan, with 24 patents granted during the year[59]. Risk Management - The company is committed to establishing a comprehensive risk management system to mitigate various risks, including financial and safety risks[140]. - The company will deepen strategic cooperation with central enterprises to enhance collaboration and achieve mutual benefits[139]. - The company will ensure that all assets under the listed company’s control are independent and not mixed with those of other controlled enterprises[160].