STEC(SH:600820)2023-04-21 16:00Financial Performance - The company's operating revenue for 2022 was CNY 65.27 billion, an increase of 4.90% compared to CNY 62.23 billion in 2021[17]. - Net profit attributable to shareholders for 2022 reached CNY 2.81 billion, reflecting a growth of 17.39% from CNY 2.39 billion in 2021[17]. - The net cash flow from operating activities increased by 19.62% to CNY 3.75 billion in 2022, up from CNY 3.13 billion in 2021[17]. - Basic earnings per share for 2022 were CNY 0.89, a rise of 17.11% compared to CNY 0.76 in 2021[18]. - The weighted average return on equity increased to 10.77% in 2022, up from 9.91% in 2021, marking an increase of 0.86 percentage points[18]. - The total assets of the company at the end of 2022 were CNY 146.44 billion, a 12.85% increase from CNY 129.76 billion at the end of 2021[17]. - The net assets attributable to shareholders increased by 9.52% to CNY 27.28 billion at the end of 2022, compared to CNY 24.91 billion at the end of 2021[17]. - The company reported a net profit of CNY 1.45 billion in Q4 2022, which was the highest quarterly profit for the year[20]. - Non-recurring gains and losses for 2022 amounted to CNY 356.99 million, significantly higher than CNY 127.22 million in 2021[22]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.7 RMB per 10 shares, totaling approximately 848.91 million RMB based on a total share capital of 3,144,096,094 shares as of December 31, 2022[3]. - The company is committed to maintaining the total distribution amount unchanged, with adjustments made to the per-share dividend if the total share capital changes before the dividend distribution date[3]. - The company has not indicated any plans for stock issuance or capital reserve transfers in the current profit distribution proposal[3]. - The company proposed a cash dividend of CNY 2.30 per 10 shares, totaling CNY 723,142,101.62, which represents 30.22% of the net profit attributable to shareholders for the year[131]. - The company’s profit distribution policy was revised to ensure a minimum cash dividend ratio, aligning with regulatory requirements[128]. Audit and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of its financial statements[2]. - The board of directors and management have confirmed the authenticity and completeness of the annual report, with all directors present at the meeting[2]. - The company has maintained effective internal control over financial reporting, as confirmed by external audits[98]. - The internal control audit report received a standard unqualified opinion from the auditing firm[139]. - The company has revised its articles of association and established compliance management measures to ensure adherence to legal and regulatory requirements[98]. Risks and Stability - The company reported no significant risks during the reporting period, indicating a stable operational environment[5]. - The company does not face any non-operational fund occupation by controlling shareholders or related parties[4]. - There are no violations of decision-making procedures regarding external guarantees[4]. - The company has not disclosed any major risks in its future development plans, suggesting a positive outlook[5]. - The company has not faced any overdue debts or violations of legal regulations during the reporting period[187]. Strategic Initiatives and Market Position - The company is well-positioned to benefit from the ongoing urbanization and infrastructure investment trends in China, particularly in municipal public infrastructure[28]. - The company is actively expanding its underground engineering emergency maintenance business in key cities like Hangzhou and Zhengzhou[25]. - The company is participating in the establishment of Shanghai Haixian New Energy Co., marking a significant step towards expanding into the new energy sector[25]. - The company aims to enhance its integrated service capabilities in urban infrastructure construction and operation, focusing on design-led investment strategies[49]. - The company is facing increased competition in the construction industry, prompting a focus on expanding its market presence and enhancing technological barriers[92]. Research and Development - The company holds 2 national-level R&D platforms and has obtained a total of 2,203 authorized patents, including 652 invention patents[38]. - The company’s R&D expenses increased by 12.02% to CNY 2.43 billion, indicating a commitment to innovation[41]. - The company successfully launched the "Intelligent Shield" technology, which has been applied in major engineering projects, enhancing operational efficiency[39]. - The company has established a city-level engineering technology center for urban infrastructure updates, focusing on digital transformation and smart operation models[39]. - Research and development investments have increased by 25%, focusing on advanced tunneling technologies and sustainable construction practices[105]. Human Resources and Governance - The total number of employees in the parent company is 82, while the main subsidiaries employ 16,892, resulting in a total of 16,974 employees[124]. - The company has 9,113 technical personnel, which constitutes approximately 53.7% of the total workforce[124]. - The company has implemented a salary policy reform for managerial personnel, focusing on market benchmarking and performance-based incentives[125]. - The company has a board of directors with a mix of independent and non-independent members, ensuring diverse governance[104]. - The average age of the executive team is 55 years, indicating a balance of experience and potential for innovation[104]. Financial Management and Investments - The company has ongoing projects with a total investment of RMB 2.54 billion, with several projects in the construction phase[81]. - The company raised RMB 32.068 billion through bank loans in 2022, primarily for infrastructure investment projects[77]. - The company reported a significant increase in accounts receivable financing, rising by 624.26% to ¥157,563,334.84[62]. - The company has not engaged in any cash asset management or entrusted loans during the reporting period, reflecting a conservative financial strategy[168]. - The company successfully issued bonds totaling ¥25 billion in 2022, with all funds utilized as planned[186]. Environmental and Social Responsibility - The company invested ¥13,423,000 in environmental protection during the reporting period[138]. - The company aims to reduce carbon emissions by 15.6% per unit area of building through the use of recycled concrete technology[146]. - The company is actively advancing green building technologies and promoting the use of new energy and storage industries[146]. - Total investment in poverty alleviation and rural revitalization projects amounted to 8.3868 million yuan, benefiting 6,639 people[149]. - The company has established a dual-carbon technology innovation center to enhance its capabilities in carbon reduction[146].