STEC(SH:600820)2023-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥23,382,863,861.94, representing a 15.99% increase compared to ¥20,158,696,078.15 in the same period last year[18]. - Net profit attributable to shareholders of the listed company was ¥773,869,669.02, a 45.12% increase from ¥533,277,986.65 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥722,540,774.44, reflecting a 46.33% increase from ¥493,776,761.55 in the same period last year[18]. - Basic earnings per share increased by 47.06% to CNY 0.25 compared to the same period last year[19]. - Diluted earnings per share also rose by 47.06% to CNY 0.25 year-on-year[19]. - The total profit for the first half of 2023 was approximately ¥1.25 billion, compared to ¥863.86 million in the same period of 2022, indicating a growth of 45.0%[92]. - The company reported a net profit of CNY 407,306,873.91 for the first half of 2023, with total assets amounting to CNY 40,888,858,417.10[50]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥519,202,328.38, a 64.43% improvement from -¥1,459,632,661.73 in the previous year[18]. - Total assets at the end of the reporting period amounted to ¥149.56 billion, with cash and cash equivalents accounting for 12.17% of total assets[40]. - The company's long-term equity investments increased by 25.14% to ¥6.80 billion, reflecting additional investments and increased investment income recognized under the equity method[40]. - The company's cash and cash equivalents at the end of the period were CNY 17,957,434,491.40, compared to CNY 17,108,385,392.45 at the end of the first half of 2022[97]. Revenue Breakdown - Revenue from the construction industry reached CNY 19.48 billion, a year-on-year increase of 21.09%[20]. - Revenue from design services decreased by 39.90% to CNY 688.40 million compared to the previous year[20]. - Revenue from infrastructure increased by 20.64% to CNY 1.26 billion, while gross margin decreased by 13.02%[20]. - Revenue from investment business was CNY 1.12 billion, with a slight increase of 0.68% year-on-year[20]. - Revenue from Singapore increased by 61.02% to CNY 1.10 billion, indicating strong market performance[21]. Research and Development - Research and development expenses surged by 142.39% to ¥924.30 million, up from ¥381.33 million year-on-year, indicating a significant investment in new projects[38]. - The company has obtained a total of 705 invention patents, with 53 new patents added during the reporting period[34]. - The company established five major innovation centers, including digital shield tunneling and smart operation, to enhance its research and development capabilities[35]. Project and Operational Highlights - The company has completed 32 large-diameter tunnel projects with a diameter of over 14 meters, including significant projects like the Shanghai Yangtze River Tunnel and the Hangzhou Qianjiang Tunnel[25]. - The company has constructed approximately 999 kilometers of urban rail transit lines across various cities, including Nanjing, Hangzhou, and Wuhan[26]. - The company is involved in 64 large and medium-sized projects under various investment models, including PPP, BT, and BOT[27]. Risk Management and Compliance - There are no significant risks reported during the reporting period, indicating a stable operational environment[6]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[5]. - The board of directors has confirmed the authenticity and completeness of the financial report, ensuring accountability for the information provided[2]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥1.00 per 10 shares, totaling ¥314,409,609.40, which accounts for 40.63% of the net profit attributable to shareholders[4]. - As of the end of the reporting period, the total number of ordinary shareholders is 117,169[74]. - Shanghai Urban Construction Group holds 30.49% of the company's shares, totaling 958,716,588 shares[74]. Environmental and Social Responsibility - The company faced administrative penalties for environmental issues, with fines of 10,000 yuan each on June 12 and June 13, 2023, for failing to implement effective dust control measures[58]. - The company is actively involved in various environmental protection projects, including a 200,000-ton water pipeline project aimed at improving local water supply in the Lingang area[59]. - The company has implemented measures to reduce carbon emissions, including the development of green construction technologies and the promotion of renewable energy projects[60]. Financial Position and Liabilities - The company's debt-to-asset ratio increased to 77.33% from 76.89% year-over-year, indicating a slight rise in leverage[81]. - The total liabilities as of June 30, 2023, were ¥115.42 billion, compared to ¥112.64 billion at the end of 2022, marking an increase of 2.48%[85]. - The company's current ratio slightly decreased to 0.884 from 0.893, indicating a minor decline in short-term liquidity[81]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern, ensuring the company's ability to continue operations[111]. - The accounting policies comply with the requirements of enterprise accounting standards, reflecting the company's financial status accurately[112]. - The company adopts a unified accounting policy to prepare consolidated financial statements, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[115].