TENGDA CONST.(SH:600512)2021-04-15 16:00Financial Performance - In 2020, the company achieved operating revenue of CNY 5,903,418,678.10, representing a 35.15% increase compared to CNY 4,367,956,951.29 in 2019[20] - The net profit attributable to shareholders of the listed company was CNY 607,248,158.86, up 27.62% from CNY 475,822,979.51 in the previous year[20] - The net profit after deducting non-recurring gains and losses reached CNY 266,127,385.52, a significant increase of 126.70% compared to CNY 117,391,316.14 in 2019[21] - Basic earnings per share increased by 26.67% to CNY 0.38 in 2020 compared to CNY 0.30 in 2019[22] - The weighted average return on equity rose to 12.18%, an increase of 1.54 percentage points from 10.64% in 2019[22] - The net profit attributable to shareholders in Q2 2020 was CNY 258.90 million, a significant recovery from a loss of CNY 25.44 million in Q1 2020[23] - The company reported a total revenue of CNY 2.47 billion in Q4 2020, marking a substantial increase from CNY 1.66 billion in Q3 2020[23] - The company achieved operating revenue of ¥5,903,418,679.10, an increase of 35.15% compared to the previous year, primarily due to increased revenue from municipal engineering projects[43] - The net profit attributable to the parent company was ¥607,248,158.86, representing a 27.62% increase year-on-year, driven by higher profits from core businesses (construction and real estate)[43] - The company reported a significant increase in other income, which rose by 404.11% to ¥15,006,081.24, compared to ¥2,976,725.86 in the previous year, mainly due to increased government subsidies[51] - The company’s net profit attributable to shareholders was ¥947,903,430.43, up from ¥728,519,949.28 in the previous year, representing a growth of 30.1%[195] Assets and Liabilities - The total assets of the company at the end of 2020 were CNY 10,925,433,578.67, reflecting a 6.64% increase from CNY 10,244,697,333.01 at the end of 2019[21] - The company's net assets attributable to shareholders increased to CNY 5,295,654,567.20, a 13.02% rise from CNY 4,685,437,170.21 in 2019[21] - The total assets as of December 31, 2020, amounted to ¥8,147,371,977.46, a decrease from ¥8,696,826,829.72 in 2019[195] - The total liabilities were ¥2,696,097,349.34, down from ¥3,546,025,694.11 in 2019, indicating a reduction of 23.9%[194] - The total current liabilities rose to ¥5,157,495,771.53 in 2020 compared to ¥4,847,623,594.20 in 2019, marking an increase of about 6.4%[190] - The company's debt-to-asset ratio improved to 52.68%, down from 55.15% in the previous year, indicating a reduction in debt[167] Cash Flow - The operating cash flow net amount for 2020 was CNY 454,368,577.06, a decrease of 69.54% compared to CNY 1,491,657,229.72 in 2019[21] - The total cash flow from operating activities was CNY 20.37 million in 2020[24] - The company’s cash flow from operating activities decreased by 69.54% to ¥454,368,577.06, indicating challenges in cash generation[45] - Cash and cash equivalents were reported at ¥1,925,555,475.30 in 2020, down from ¥2,030,017,742.00 in 2019, a decrease of about 5.2%[189] Research and Development - Research and development expenses rose by 23.46% to ¥214,763,150.62, reflecting the company's commitment to innovation and technology advancement[44] - The total R&D expenditure amounted to ¥214,763,150.62, accounting for 3.64% of operating revenue, with no capitalized R&D costs[52] - The number of R&D personnel was 307, representing 9.09% of the total workforce[52] - The company completed 4 provincial-level research projects and 5 enterprise-level research projects during the reporting period, showcasing its focus on technological collaboration[43] Market and Business Strategy - The company is actively expanding its market presence beyond Jiangsu, Zhejiang, and Shanghai, participating in bids across several provinces including Jiangxi and Hubei[39] - The company aims to enhance its core brand in highway, bridge, and rail transit construction, focusing on high-quality development and technological innovation[74] - The company will implement a "going out" strategy to expand its market presence while strengthening project management and quality control[75] - The company is exploring market expansion opportunities, particularly in the real estate sector, with ongoing projects in Taizhou and Ningbo[139] Risk Management - The company has a risk statement indicating that future plans and strategies do not constitute a substantive commitment to investors[6] - The company faces risks from macroeconomic fluctuations, which could adversely affect its overall business performance[78] - The construction industry is heavily influenced by national policies, and changes in fiscal and tax policies may impact the company's operations[78] - The company plans to enhance its risk warning mechanisms and evaluate the creditworthiness of project repayment entities comprehensively[79] Corporate Governance - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[4] - The company has established a complete environmental management system to ensure compliance with environmental standards[116] - The company held its annual shareholders' meeting on May 11, 2020, with the resolutions published on the Shanghai Stock Exchange on May 12, 2020[152] - The board of directors and supervisory board conducted their duties in accordance with legal and regulatory requirements, ensuring corporate governance[151] Shareholder Information - The company maintains a cash dividend policy to distribute at least 30% of the average distributable profit over three years, provided the net profit is positive and cash flow is sufficient[83] - The total remuneration for all directors, supervisors, and senior management was 13.941 million yuan[141] - The total number of ordinary shareholders increased from 80,272 to 83,442 during the reporting period[123] - The largest shareholder, Ye Linfu, holds 132,047,177 shares, representing 8.26% of the total shares[125]