CNCEC(SH:601117)2020-04-23 16:00Financial Performance - The company's operating revenue for 2019 was approximately CNY 103.62 billion, representing a 27.23% increase compared to CNY 81.45 billion in 2018[23]. - The net profit attributable to shareholders for 2019 was approximately CNY 3.06 billion, an increase of 58.48% from CNY 1.93 billion in 2018[23]. - The basic earnings per share for 2019 was CNY 0.62, up 58.97% from CNY 0.39 in 2018[23]. - The weighted average return on equity for 2019 was 9.88%, an increase of 3.57 percentage points from 6.31% in 2018[23]. - The net cash flow from operating activities for 2019 was approximately CNY 4.72 billion, a decrease of 3.78% from CNY 4.91 billion in 2018[23]. - Total assets at the end of 2019 were approximately CNY 115.87 billion, a 19.42% increase from CNY 97.02 billion at the end of 2018[23]. - The net assets attributable to shareholders at the end of 2019 were approximately CNY 35.14 billion, reflecting a 7.01% increase from CNY 32.84 billion at the end of 2018[23]. - The company achieved total operating revenue of RMB 104.13 billion, an increase of RMB 22.68 billion, or 27.85% year-on-year[56]. - Net profit reached RMB 3.29 billion, up RMB 1.21 billion, or 58.04% year-on-year, with net profit attributable to shareholders of the parent company at RMB 3.06 billion, an increase of RMB 1.13 billion, or 58.48% year-on-year[56]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.87 per 10 shares, totaling approximately CNY 922.47 million, which is 30.13% of the net profit attributable to shareholders[5]. - The company reported a cash dividend of 1.18 RMB per 10 shares for the 2018 fiscal year, totaling 582,094,000 RMB, which represents 30.13% of the net profit attributable to shareholders[128]. - The company reported a net profit attributable to shareholders of 3,061,407,368.97 RMB for the 2019 fiscal year, with a cash dividend payout ratio of 30.13%[129]. Market and Industry Position - The company ranked 27th in the ENR Global 250 Contractors list for 2019, maintaining its leading position in the domestic petrochemical engineering sector[44]. - The company has a strong presence in the coal chemical sector, holding a significant market share domestically and leading internationally[32]. - The company is involved in several large-scale integrated refining and chemical projects, contributing to a new investment landscape in the petrochemical industry[37]. - The company has established 123 overseas institutions in over 60 countries, enhancing its global presence and market expansion[48]. - The company has a significant presence in the environmental sector, with expectations for rapid growth in waste-to-energy projects, projected to maintain a growth rate of around 20%[41]. Contracts and New Business - New contract value signed in 2019 was RMB 227.20 billion, a year-on-year increase of RMB 82.19 billion, or 56.68%[58]. - The overseas new contract value was RMB 136.57 billion, a significant increase of RMB 86.19 billion, or 171.11% year-on-year, accounting for 60.11% of total new contracts[58]. - The company signed engineering general contracting contracts worth RMB 151.02 billion, representing 66.47% of total new contracts, with a year-on-year increase of RMB 73.41 billion, or 94.60%[58]. - The company secured a major contract for the Payakh oil and gas field project worth USD 5 billion, marking a significant milestone in international expansion[62]. Research and Development - The company invested CNY 3.32 billion in R&D, which is a 28.43% increase compared to the previous year[73]. - The number of R&D personnel was 1,867, representing 4.4% of the total workforce[86]. - The company obtained 262 national authorized patents in 2019, including 97 invention patents, showcasing its commitment to innovation[69]. - The company is actively investing in research and development to innovate and stay competitive in the market[194]. Economic and Market Challenges - The company has faced challenges due to global economic slowdowns and domestic structural issues, impacting the overall construction industry[36]. - The company anticipates that the global economic downturn risks will increase due to the COVID-19 pandemic and geopolitical tensions, affecting international trade dynamics[111]. - The company is facing macroeconomic risks due to structural and cyclical issues, which may impact its operations[123]. Social Responsibility and Community Engagement - The company invested a total of RMB 11.8 million in poverty alleviation efforts, contributing to the successful poverty alleviation of Huachi County and the early removal of poverty status in Huan County[159]. - The company provided 1,200 job opportunities through two recruitment fairs for college graduates in poverty-stricken areas, successfully hiring 153 graduates[159]. - The company received recognition from the Gansu provincial government as an "Advanced Collective in Poverty Alleviation" for its efforts[162]. Environmental Compliance - The company reported zero exceedances in wastewater and emissions standards for 2019, adhering to strict environmental regulations[168]. - The wastewater treatment facility has a capacity of 6,480 tons per day and has been operational since December 10, 2014, with no exceedances reported in 2019[169]. - The company has received environmental impact assessment approvals for multiple projects, including a 200,000 tons/year caprolactam project and a 150 tons/year catalyst pilot project[171]. Governance and Management - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 13.0834 million yuan[200]. - The company has a total of 8 senior management members, all of whom are Chinese nationals without overseas residency[199]. - The company has seen a stable leadership team with several members holding positions since 2018, indicating continuity in management[199]. - The company is committed to ensuring the accuracy of financial information and transparency in reporting[194].