ZCIGC(SZ:002761)2021-04-28 16:00Financial Performance - The company reported a net profit attributable to the parent company of 686.61 million RMB for 2019, with a forecast of 784.21 million RMB for 2020 and 861.26 million RMB for 2021, reflecting a growth of 14.2% and 9.8% respectively[8]. - The company's operating revenue for 2020 was ¥79,549,653,110.03, representing a year-over-year increase of 5.16% from ¥75,649,475,026.19 in 2019[31]. - The net profit attributable to shareholders for 2020 was ¥1,075,069,047.77, which is an increase of 28.73% compared to ¥835,163,172.45 in 2019[31]. - Basic earnings per share for 2020 were ¥0.95, up 11.76% from ¥0.85 in 2019[31]. - The total assets at the end of 2020 were ¥86,780,759,638.82, reflecting a 9.40% increase from ¥79,323,965,003.99 at the end of 2019[31]. - The net assets attributable to shareholders increased by 27.86% to ¥5,817,787,631.44 at the end of 2020, compared to ¥4,550,012,670.60 at the end of 2019[31]. - The company reported a weighted average return on equity of 24.73% for 2020, an increase of 8.48 percentage points from 16.25% in 2019[31]. - The company reported a significant increase in contract assets, reaching approximately ¥15.49 billion at the end of 2020, compared to ¥0.00 at the end of 2019[54]. - The company reported a net profit of ¥1,153,738,458.89 for the year[106]. Dividend Distribution - The company plans to distribute a cash dividend of 2 RMB per 10 shares, based on a total share base of 1,081,340,098 shares[9]. - The cash dividend for 2019 was also RMB 2.00 per 10 shares, with the same total share count, resulting in a cash dividend of RMB 216,268,019.60[165]. - In 2020, the cash dividend represented 21.12% of the net profit attributable to ordinary shareholders, which was RMB 1,023,869,047.77[166]. - The total cash dividend amount for 2020 was 100% of the distributable profit, which was RMB 264,138,291.39[169]. - The company has a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[164]. Acquisitions and Restructuring - The company completed the acquisition of 100% equity of Zhejiang Construction Group on December 26, 2019, marking a significant asset restructuring[4]. - The company has committed to a profit forecast compensation agreement with original shareholders of Zhejiang Construction Group[8]. - Zhejiang Construction Group acquired a 66% stake in Tower Construction 359 for a total investment of ¥187,921,910 on December 29, 2020[83]. - The total identifiable net assets acquired from Tower Construction 359 amounted to ¥153,157,774.36, resulting in goodwill of ¥34,764,135.64[83]. Business Strategy and Market Position - The company’s new business strategy includes market expansion and potential mergers and acquisitions following the asset restructuring[4]. - The company has maintained a strong position in the construction industry, being recognized as one of the top 250 global contractors for 18 consecutive years[45]. - The company plans to focus on new infrastructure investments, including cloud computing and big data, as part of its strategic initiatives[48]. - The company aims to enhance project management capabilities and expand its market presence through integrated project contracting and investment-driven construction[152]. - The company is committed to high-quality development and aims to lead in the national construction sector while enhancing its comprehensive competitiveness[152]. Operational Efficiency and R&D - The company has implemented digital transformation initiatives, aiming to become a data-driven digital enterprise[57]. - Research and development expenses increased by 64.61% to ¥253,886,859.47, reflecting the company's increased investment in R&D[96]. - The number of R&D personnel rose to 3,709, representing 18.05% of the total workforce[102]. - The company's R&D investment accounted for 0.32% of operating revenue, up from 0.20% in the previous year[102]. Risks and Compliance - The company has identified various risks including macroeconomic, market, and technology enhancement risks that may impact future development[9]. - The company will maintain the independence of its management team, ensuring key executives are dedicated solely to the listed company[182]. - The company has committed to a fair pricing mechanism for any unavoidable related party transactions, protecting the interests of minority shareholders[182]. - The company will ensure compliance with any new regulations regarding share reduction issued by regulatory authorities[177]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[190]. - New product launches are expected to contribute an additional 200 million in revenue in the upcoming year[190]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million earmarked for potential deals[190]. - The company aims to reduce operational costs by 8% through efficiency improvements and restructuring efforts[190].