CAMCE(SZ:002051)2021-04-07 16:00Financial Performance - The company reported a total revenue of 10.5 billion RMB for the year 2020, representing a year-on-year increase of 15%[20] - The net profit attributable to shareholders was 1.2 billion RMB, an increase of 20% compared to the previous year[20] - The company's operating revenue for 2020 was ¥7,965,990,108.72, a decrease of 25.25% compared to ¥10,656,800,243.72 in 2019[28] - The net profit attributable to shareholders for 2020 was -¥83,826,728.08, representing a decline of 107.96% from ¥1,053,718,358.99 in 2019[28] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥105,750,995.21, down 110.98% from ¥962,923,656.51 in 2019[28] - The basic earnings per share for 2020 was -¥0.07, a decline of 108.24% from ¥0.85 in 2019[28] - The diluted earnings per share for 2020 was also -¥0.07, reflecting the same percentage decline of 108.24% from ¥0.85 in 2019[28] - The company reported a net profit attributable to shareholders of -83,826,728.08 RMB for 2020, resulting in no cash dividends being distributed for the year[167] - In 2019, the company distributed cash dividends totaling 185,611,340.55 RMB, which accounted for 17.61% of the net profit attributable to shareholders[167] - The company plans to retain undistributed profits for future development, with no plans for cash dividends, stock dividends, or capital reserve transfers in 2020[167] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in this region over the next three years[20] - The company is actively participating in the Regional Comprehensive Economic Partnership (RCEP) to leverage trade opportunities in the Asia-Pacific region[20] - The company is focusing on expanding its investment operations in the environmental sector, successfully developing multiple BOT projects[45] - The company is positioned to benefit from the rapid development of the ice and snow sports industry and the growth of the domestic tourism market[50] - The company aims to enhance its international competitiveness and expand its market presence along the "Belt and Road" initiative, which is expected to provide significant development space[150] - The company will actively pursue new market opportunities in key regions such as the Beijing-Tianjin-Hebei area, the Yangtze River Economic Belt, and the Guangdong-Hong Kong-Macau Greater Bay Area[157] Research and Development - The company has invested 500 million RMB in R&D for new technologies, focusing on smart construction solutions[20] - The company's R&D investment amounted to approximately ¥530.42 million in 2020, a decrease of 12.54% from ¥606.46 million in 2019, while the R&D investment as a percentage of operating revenue increased to 6.66% from 5.69%[109] - In 2020, the company received 9 provincial and ministerial-level scientific and technological awards and applied for 124 patents, with 105 patents granted, including 14 invention patents[107] - The company emphasizes the importance of technological innovation and is actively involved in international technology cooperation projects[106] Project Management and Operations - The company has adopted Building Information Modeling (BIM) technology to improve project efficiency and reduce costs[20] - The company has strengthened its project management capabilities by optimizing its EPC project lifecycle management system[66] - The company has developed a comprehensive EPC model for its engineering contracting business, integrating design, equipment, and construction resources[54] - The company has implemented a precise resumption plan to mitigate losses caused by the pandemic while ensuring the health and safety of personnel[70] - The company has a diversified financing strategy and maintains close communication with domestic financial and insurance institutions to facilitate project financing[66] International Contracts and Projects - The company signed new international engineering contracts worth $1.726 billion, including projects in Iraq, Cambodia, Sri Lanka, Ukraine, Uzbekistan, and Belarus[73] - The company has a backlog of international engineering contracts amounting to $8.232 billion as of the end of 2020[75] - The company completed 9 projects during the reporting period, with a total contract value of $338 million[71] - The company is executing 23 foreign aid projects, with several projects officially under construction[77] - The company has 38 ongoing overseas projects with a total project value of 305.40 million USD[92] Financial Management and Risks - The company has a long-term commitment to fulfill its obligations regarding asset transfers and debt responsibilities[171] - The company faces risks including geopolitical risks, EPC business model risks, COVID-19 pandemic risks, and exchange rate risks, particularly with revenue primarily denominated in USD[161] - The company has implemented a forward foreign exchange settlement and sales business to mitigate exchange rate losses and will continue to monitor currency fluctuations[161] - The company is committed to improving its management efficiency and financial performance by benchmarking against world-class enterprises and enhancing cost management practices[158] Corporate Governance and Compliance - The company is committed to maintaining independence from its parent company and ensuring fair pricing in related transactions[171] - The company guarantees that shares held prior to the transaction will not be transferred for 12 months post-transaction completion, including any shares increased due to rights issues or stock dividends[174] - The company will strictly adhere to laws and regulations regarding related party transactions, minimizing such transactions post-transaction completion[180] - The company has pledged to compensate for any losses incurred by the listed company due to violations of commitments made regarding related party transactions[183]