2019-03-29 16:00Financial Performance - In 2018, the company achieved record levels in new contract amounts, operating income, and total profit, marking the best performance in its history [10]. - The company reported a significant increase in profitability and operational efficiency through cost reduction and enhanced employee welfare initiatives [10]. - In 2018, the company's operating revenue reached CNY 737.71 billion, an increase of 6.92% compared to CNY 689.94 billion in 2017 [22]. - The net profit attributable to shareholders was CNY 17.20 billion, reflecting a growth of 7.04% from CNY 16.07 billion in the previous year [22]. - The total profit for the year was CNY 22.71 billion, an increase of 16.2% compared to the previous year [52]. - The net profit reached CNY 17.44 billion, reflecting a year-on-year growth of 22.8% [52]. - The new contract value signed in 2018 was CNY 1,692.16 billion, up 8.7% year-on-year [52]. - The company's total revenue from domestic operations was 697.575 billion RMB, a 7.04% increase, while overseas revenue was 42.861 billion RMB, up 2.83% [65]. - The company achieved a total operating revenue of 740.436 billion yuan, exceeding the initial plan of 670 billion yuan by 110.51% [127]. - The operating cost (including interest expenses) was 664.992 billion yuan, which is 110.10% of the initially estimated cost of 604 billion yuan [127]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.28 per 10 shares, totaling RMB 2,924,070,597.50 based on a total share capital of 22,844,301,543 shares as of December 31, 2018 [4]. - The cash dividend payout ratio for 2018 is lower than 30% due to the competitive nature of the construction industry and the need for substantial working capital [134]. - The company has seen a consistent increase in net profit, with the 2018 distribution amount reflecting a growth in the profit base [134]. - The company's retained earnings available for distribution to shareholders after the 2018 dividend is RMB 46,982,853,932.86 [133]. - The company has a history of maintaining a sustainable dividend policy, with the cash dividend payout ratio increasing from 16% in 2016 to 17% in 2018 [136]. Infrastructure Projects - The company successfully completed significant projects, including the Hong Kong-Zhuhai-Macao Bridge and the Beijing-Zhangjiakou High-Speed Railway tunnel, contributing to national infrastructure development [10]. - The company expanded its global footprint by participating in international projects such as the China-Laos Railway and the Jakarta-Bandung High-Speed Railway in Indonesia [10]. - The company is positioned as a leading player in infrastructure construction, benefiting from national initiatives like the Belt and Road Initiative and urban development projects [29]. - The company completed 7,085 kilometers of railway track laying in 2018, maintaining a market share of 58.4% in the domestic large and medium-sized railway construction market [53]. - The company signed new contracts worth CNY 720.6 billion in countries along the "Belt and Road" initiative, a growth of 33% year-on-year [52]. Technological Innovation - The company established an international tunneling machine innovation research center, producing the world's largest diameter slurry shield machine, "Chunfeng," which has led to the highest sales volume globally [11]. - The company added 1,888 new patents in 2018, marking a year-on-year growth of 56.7% [21]. - The establishment of 6 specialized R&D centers was completed, focusing on various advanced technologies and innovations [21]. - The company is committed to advancing its technological capabilities and innovation in the construction sector, particularly in green and intelligent manufacturing [11]. - The company launched 1,293 new research projects in 2018, focusing on key engineering challenges and advanced construction technologies [72]. Market Position and Share - The company maintains a market share of over 45% in the domestic railway infrastructure market and over 40% in the urban rail transit market [33]. - The company holds a market share of approximately 65% in the high-speed turnout market (above 250 km/h) and over 60% in the urban rail transit turnout market [39]. - The company ranked 16th among the ENR Global 150 largest design firms in 2018, improving by 9 positions from the previous year [36]. - The company has a total of 1,490 various qualifications, including 18 special-grade qualifications for railway engineering construction [90]. Risk Management - The company has outlined potential risks in its annual report, emphasizing the importance of risk management in its future operations [6]. - The company faces various risks, including market, policy, operational, management, financial, investment, and commodity price fluctuation risks [129]. - The company emphasizes the importance of internal control systems to manage and mitigate various risks effectively [130]. Social Responsibility and Environmental Commitment - The company has actively participated in poverty alleviation work, with 19 subsidiaries involved and a total investment of 29.54 million RMB in 2018 [193]. - The company has established a comprehensive environmental protection management system, adhering to relevant laws and regulations [200]. - The company aims to enhance green development in construction, implementing measures to control pollution and promote sustainable practices [200]. - The company contributed 6,923.3 million in donations for social responsibility, an increase from 5,296.1 million in 2017 [198]. Financial Management and Investments - The company has a total of RMB 10,981,935 thousand in bonds payable as of December 31, 2018 [151]. - The company has provided guarantees for real estate mortgage totaling RMB 28,991,583.85 thousand as of December 31, 2018 [159]. - The company has a total of RMB 180,182 thousand in related party transactions, which is less than 1% of similar transaction amounts [148]. - The company has a total of 32,925.00 million RMB in entrusted financial management for the Chengdu Metro project, with actual returns of 1,289.75 million RMB [162].