2022-03-30 16:00Financial Performance - In 2021, China Railway achieved a historic milestone with operating revenue exceeding 1 trillion RMB for the first time, ranking 35th in the Fortune Global 500[9]. - The company's operating revenue for 2021 was CNY 1,070,417,452, representing a 10.19% increase from CNY 971,404,889 in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 27,617,610, a 9.65% increase compared to CNY 25,187,793 in 2020[23]. - The net profit after deducting non-recurring gains and losses was CNY 26,060,894, which is a 19.35% increase from CNY 21,835,586 in 2020[23]. - The total assets at the end of 2021 reached CNY 1,361,726,183, marking a 13.47% increase from CNY 1,200,122,108 at the end of 2020[23]. - The net assets attributable to shareholders at the end of 2021 were CNY 275,270,856, reflecting a 7.80% increase from CNY 255,344,830 at the end of 2020[23]. - The company's EBITDA reached RMB 60.659 billion, with a year-on-year increase of 9.64%[31]. - The company achieved a total operating revenue of 999.62 billion RMB in foreign contracting projects, a year-on-year decrease of 7.1%[38]. - The company reported a cash flow from operating activities of RMB 62.891 billion in the fourth quarter[26]. - The company maintained an asset-liability ratio of 73.68%, a decrease of 0.22 percentage points from the beginning of the year[31]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1.96 RMB per 10 shares, totaling approximately 4.85 billion RMB, based on a total share capital of 24,741,653,683 shares[3]. - The company aims to maintain a cash dividend distribution of at least 10% of the annual distributable profit, subject to certain conditions[197]. - The company has a policy to distribute cash dividends at least once a year, contingent on profitability and cash flow conditions[197]. - The company's independent directors have reviewed and provided opinions on the proposed profit distribution plan, which requires approval from the annual general meeting[200]. Strategic Initiatives and Projects - The company completed several key projects, including the Lalin Railway and the Beijing Winter Olympics facilities, contributing to national strategic goals[10]. - The company is actively involved in major "Belt and Road" initiatives, with projects like the Indonesia Jakarta-Bandung High-Speed Railway and the Padma Bridge in Bangladesh progressing steadily[10]. - The company has made significant progress in the construction of the Sichuan-Tibet Railway, a major century project[10]. - The company signed new overseas contracts at the highest growth rate among state-owned construction enterprises, with significant progress on key "Belt and Road" projects, including the full operation of the China-Laos Railway[35]. - The company is focusing on high-quality development and strategic leadership, adhering to the "123456" work strategy[9]. Innovation and Technology - The company received 7 national science and technology progress awards and 9 Chinese patent awards in the past year, showcasing its commitment to innovation[12]. - The company has accumulated 24,973 patents, including 5,157 invention patents, reflecting its strong technological capabilities[65]. - The company is actively promoting technological innovation, winning multiple awards, including the China Patent Gold Award for two consecutive years[35]. - The company has established multiple national laboratories and research centers, enhancing its R&D capabilities[88]. Risk Management and Governance - The company aims to enhance its risk management framework to prevent potential systemic risks and ensure stable development[13]. - The company has established a risk management and internal control system to monitor and warn against significant risks, ensuring overall risk control[139]. - The board of directors has improved the governance structure and enhanced the effectiveness of decision-making and risk prevention mechanisms[140]. - The company has implemented risk monitoring and early warning mechanisms to minimize potential financial risks in its operations[61]. Market Position and Competitive Advantage - The company maintained a market share of over 45% in the domestic railway infrastructure market and over 35% in the urban rail transit market[51]. - The company is the largest construction contractor in China and holds over 50% of the national total for railway engineering construction contracts[51]. - The company has established itself as a leading manufacturer of tunnel boring machines (TBM) and has a significant market share in high-speed switches exceeding 50%[55]. - The company is positioned to benefit from the ongoing infrastructure investment driven by national policies and planning documents[133]. Human Resources and Training - The company has a workforce of over 200,000 technical professionals, including more than 3,000 senior titles and 9 national engineering design masters[68]. - The company conducted 58 training sessions, training a total of 7,758 participants, focusing on enhancing employee capabilities and management skills[195]. - The company has implemented a market-oriented salary distribution mechanism to attract and retain core talents, ensuring a fair and orderly growth of salary levels[193]. - The company has established a comprehensive long-term incentive system, including stock ownership and profit-sharing management regulations, to enhance employee motivation[193]. Environmental and Social Responsibility - China Railway has implemented ecological protection measures and participated in disaster relief efforts, demonstrating corporate responsibility[10]. - The company emphasizes risk control and improving capital turnover in its real estate operations[57]. - The company aims to enhance its technological innovation and green development efforts, aligning with national strategies such as "carbon peak" and "carbon neutrality" during the 14th Five-Year Plan[184]. - The company plans to further improve its environmental protection and energy-saving efforts, strengthening the construction of ecological and energy-saving systems[188].