CAMCE(SZ:002051)2020-04-21 16:00Financial Performance - The company's operating revenue for 2019 was ¥10,656,800,243.72, a decrease of 21.15% compared to ¥13,515,013,433.73 in 2018[23] - The net profit attributable to shareholders for 2019 was ¥1,053,718,358.99, down 22.02% from ¥1,351,245,401.02 in the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥962,923,656.51, a decrease of 20.45% compared to ¥1,210,425,658.48 in 2018[23] - Basic and diluted earnings per share were both 0.85 CNY, down 22.02% from 1.08 CNY in the previous year[26] - The weighted average return on equity was 10.14%, a decline of 3.47% from 13.85% in the previous year[26] - Total assets amounted to 21,999,483,304.15 CNY, representing a decrease of 1.48% from the previous year's total[26] - The net assets attributable to shareholders of the listed company increased by 7.71% to 10,737,665,099.51 CNY compared to the previous year[26] - The net cash flow from operating activities was -315,643,224.36 CNY, a decrease of 109.80% compared to the previous year[26] Dividend Distribution - The company plans to distribute a cash dividend of ¥1.5 per 10 shares based on a total share capital of 1,237,408,937 shares as of December 31, 2019[6] - The company implemented a cash dividend policy for the 2019 fiscal year, distributing RMB 1.5 per 10 shares, totaling RMB 185,611,340.55, which represents 17.61% of the net profit attributable to shareholders[162] - The cash dividend for the 2018 fiscal year was RMB 3.0 per 10 shares, totaling RMB 370,782,475.80, which accounted for 27.44% of the net profit attributable to shareholders[163] - The company has not proposed any cash dividend distribution plan for the current reporting period despite having positive distributable profits[166] Business Operations - The company has not changed its main business since its listing[21] - The company is under the control of China National Machinery Industry Corporation since 2009, following a transfer of shares from the previous controlling shareholder[21] - The company completed a restructuring, expanding its core business into three major segments: international engineering, consulting design, and domestic engineering[39] - The international engineering segment has established over 50 overseas offices, completing numerous large-scale projects across various regions[39] - The consulting design segment focuses on healthcare, energy conservation, and modern logistics, leveraging the strengths of its subsidiaries[40] - The company holds multiple professional qualifications, including a Class A comprehensive engineering design qualification, enhancing its competitive advantage in the engineering design industry[40] Market Performance - In 2019, the company achieved a new contract amount of $2,602.5 million, representing a year-on-year growth of 7.6%[41] - The company's completed operating revenue reached $1,729 million in 2019, with a year-on-year increase of 2.3%[41] - The company ranked 22nd in new contract amounts and 43rd in completed operating revenue among domestic companies in 2019[41] - The company actively expanded into new markets, achieving contract breakthroughs in Kazakhstan, North Macedonia, Ghana, and Côte d'Ivoire[67] Project Execution - The company executed over 800 consulting and design projects, with significant progress in major projects like the Beijing Daxing International Airport and the Tianjin University seismic simulation facility[68] - The company executed 39 engineering contracting projects, with 4 projects completed, totaling a contract amount of $390 million[65] - The effective contract amount for international engineering contracting reached $991 million, with major projects including the expansion of the Tuz Lake underground gas storage in Turkey and the BELES-1 sugar factory in Ethiopia[67] - The company has successfully implemented localized project execution, improving its technical capabilities and adaptability to foreign standards[44] Financial Management - The company has a strong financing capability, maintaining close communication with domestic financial and insurance institutions to facilitate project financing[57] - The company’s financing structure is reasonable, supporting business development effectively[46] - The company reported a 43.21% decrease in financial expenses, amounting to -¥223,637,202.82, primarily due to foreign exchange gains from USD fluctuations[99] - The company raised a total of ¥20,000,000 through a private placement, with all funds utilized by the end of the reporting period[128] Research and Development - The company reported a 88.49% increase in R&D expenses, totaling ¥316,147,771.11 in 2019, due to an increase in R&D personnel[99] - The number of R&D personnel increased to 2,505 in 2019, up 17.33% from 2,135 in 2018[102] - R&D investment amounted to ¥606,462,866.88 in 2019, a 3.60% increase from ¥585,406,237.52 in 2018, representing 5.69% of operating revenue[102] - The company obtained 8 invention patents, 80 utility model patents, and 18 software copyright certificates in 2019, focusing on high-tech fields supported by the state[100] Strategic Initiatives - The company developed a strategic plan for 2020-2022 to enhance operational management and investment evaluation processes[72] - The company aims to enhance its market presence through strategic partnerships and project management consulting services[82] - The company plans to establish overseas regional centers and optimize its organizational structure to enhance efficiency and decision-making in international projects[149] - The company is committed to mixed-ownership reform and improving internal management to boost operational efficiency and corporate governance[154] Risk Management - The company anticipates risks from global economic slowdown and geopolitical tensions, which may impact project execution and financial returns[155] - The company will strengthen compliance management and risk control for overseas projects to ensure profitability and project success[154] - The company closely monitors foreign exchange risks due to its significant overseas operations, primarily generating revenue in USD[158] Corporate Governance - The company will maintain an independent status post-major asset restructuring, ensuring no interdependence with China National Machinery Industry Corporation in assets, personnel, finance, and operations[170] - The company has committed to strict adherence to all promises made regarding share transfer limitations and performance guarantees[171] - The company will ensure compliance with legal obligations regarding information disclosure in case of any changes in control or main business adjustments[179] Subsidiaries and Acquisitions - The company completed the acquisition of 100% equity of China Zhongyuan, which has been included in the consolidated financial statements[197] - A wholly-owned subsidiary, China International Nigeria Co., Ltd., was established and included in the consolidated financial statements[197] - The company established Guoji Financial Co., Ltd. to enhance internal fund management and improve fund utilization efficiency[185] - The company has not engaged in any significant non-equity investments during the reporting period[121]