LJRB(SH:600853)2020-04-19 16:00Financial Performance - In 2019, the company's operating revenue reached ¥11.11 billion, an increase of 5.72% compared to ¥10.51 billion in 2018[20]. - The net profit attributable to shareholders was ¥223.21 million, representing a significant increase of 52.58% from ¥146.29 million in the previous year[20]. - The company's total assets grew by 28.44% to ¥19.74 billion at the end of 2019, up from ¥15.37 billion in 2018[20]. - The basic earnings per share increased to ¥0.2665, a rise of 47.65% compared to ¥0.1805 in 2018[20]. - The weighted average return on equity improved to 13.35%, an increase of 2.65 percentage points from 10.70% in 2018[20]. - The net cash flow from operating activities was negative at -¥851.12 million, an improvement from -¥985.68 million in 2018[20]. - The total operating revenue for the period reached CNY 11,106.37 million, representing a year-on-year increase of 5.72%[44]. - The net profit attributable to the parent company was CNY 22,320.84 million, with a total profit of CNY 30,620.00 million[42]. - The company achieved a record high in new contract orders amounting to CNY 21,338.73 million, with continuous growth in revenue and profit for five consecutive years[42]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares, totaling approximately 25.12 million CNY based on a total share capital of 837,417,955 shares as of December 31, 2019[5]. - The company is committed to long-term development while considering shareholder interests in its profit distribution plan[5]. - The company distributed a cash dividend of 0.02 yuan per share for the 2018 fiscal year, totaling approximately 12.88 million yuan[92]. Audit and Compliance - The company has received a standard unqualified audit report from Zhongshen Zhonghuan Accounting Firm, ensuring the accuracy and completeness of the financial report[4]. - The company has maintained a stable governance structure with no reported issues regarding board attendance or decision-making processes[4]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period, indicating stability in leadership[172]. - The company has not identified any violations regarding the use of insider information, maintaining strict management protocols[194]. Risk Management - There are no significant risk events reported during the period, and the company has detailed potential risks and countermeasures in the report[7]. - The company faces risks related to financing, including the ability to raise sufficient funds for project implementation[86]. - The company reported a significant increase in accounts receivable due to the long duration of construction projects, posing a collection risk[87]. Legal Matters - The company is involved in significant litigation, including a claim for ¥42,180,818.65 against Qinglong Company for labor cost losses[106]. - The company is facing ongoing litigation with a claim of ¥4,000,000 for economic losses from Fengyang County[108]. - The company has been involved in legal proceedings since 2016, highlighting a prolonged period of litigation[109]. - The company is currently awaiting a court hearing scheduled for December 5, 2019, which has been delayed due to the COVID-19 pandemic[113]. Construction and Project Management - The company operates under various financing models such as PPP, BT, and BOT for infrastructure projects, indicating a diversified approach to project financing[11]. - The company has a strong presence in the construction sector, focusing on road and bridge projects, which is reflected in its operational strategies[13]. - The company secured 191 new contract projects with a total contract value of 2,133,873 million yuan, further solidifying its "billion-level road and bridge" operational scale[38]. - The company has completed 92.57% of the Erenhot to Qinhuangdao Highway project, with a total investment of 152,599 million RMB[73]. Technological Innovation and R&D - The company received 24 national patents during the reporting period, including 1 invention patent and 22 utility model patents, enhancing its technological capabilities[36]. - R&D expenses increased by 84.74% to CNY 131.51 million, reflecting the company's commitment to enhancing its research capabilities[45]. - The company is in the trial operation phase of the "Longjian Co., Ltd. Think Tank Platform," aimed at enhancing technological capabilities[39]. Governance and Management - The company has a robust governance structure with independent directors providing oversight and strategic guidance[177]. - The company has maintained a strong management team with various experienced individuals in key positions, including Li Zifeng as the Chief Economist and Li Guqing as the Vice President[175]. - The company is focused on expanding its engineering capabilities and project management expertise to capture more market opportunities[176]. Financial Management - The total bank credit granted to the company reached CNY 23 billion, indicating strengthened financial management and creditworthiness[40]. - The company has provided guarantees for various subsidiaries, including RMB 5.8 billion for Heilongjiang Longjian Road and Bridge First Engineering Co., Ltd. and RMB 7.2 billion for Suining Longxing Construction Co., Ltd.[134]. - The company has committed to using the funds raised from the private placement strictly according to the disclosed purposes, ensuring no funds will be used to supplement working capital for other major investments[96].