MCC(SH:601618)2024-03-28 16:00Financial Performance - The net profit attributable to shareholders for 2023 was RMB 8,670,405 thousand, with undistributed profits of RMB 5,973,377 thousand[3]. - The proposed cash dividend is RMB 0.72 per 10 shares, totaling RMB 1,492,101 thousand, which represents 17.21% of the net profit, an increase of 0.47 percentage points from the previous year[3]. - In 2023, the company achieved a total operating revenue of CNY 633.87 billion and a total profit of CNY 13.765 billion, with a net profit attributable to shareholders of CNY 8.67 billion[12]. - The company's operating revenue for 2023 was CNY 633.87 billion, an increase of CNY 41.20 billion (6.95%) compared to 2022's CNY 592.67 billion[23]. - The net profit attributable to shareholders for 2023 was CNY 8.67 billion, a decrease of CNY 1.61 billion (15.63%) from 2022's CNY 10.28 billion[23]. - The basic earnings per share for 2023 was CNY 0.33, down from CNY 0.45 in 2022, representing a decrease of CNY 0.12[24]. - The comprehensive income for 2023 totaled RMB 11.47 billion, down from RMB 14.43 billion in 2022, reflecting a decrease of 20.66%[28]. - The total assets as of December 31, 2023, were CNY 661.60 billion, an increase of CNY 76.21 billion (13.02%) from CNY 585.39 billion in 2022[25]. - The total liabilities increased to RMB 493.61 billion in 2023, compared to RMB 423.48 billion in 2022, marking a growth of 16.53%[29]. - The net cash flow from operating activities for 2023 was CNY 5.89 billion, a significant decrease of 67.54% from CNY 18.15 billion in 2022[23]. Business Strategy and Development - The company aims to achieve a revenue target of over RMB 1 trillion, with plans to develop two subsidiaries with RMB 100 billion in revenue, three with RMB 70 billion, five with RMB 50 billion, and eight with RMB 30 billion[10]. - The company is focused on advancing core technologies in areas such as green development and intelligent manufacturing as part of its "181 Plan" initiative[10]. - The company has established a regional market layout strategy involving one headquarters province, multiple key provinces, and several nurturing provinces[10]. - The company plans to enhance its project management system through a comprehensive framework known as the "Five Ones" system[10]. - The company aims to continue its transformation and upgrade in 2024, focusing on strategic clarity and operational resilience amid economic challenges[14]. - The company is actively involved in major national strategic areas and the Belt and Road Initiative, winning significant projects in key regions[13]. - The company is committed to a strategy of "fast mining and fast selling" to maintain profitability amid market fluctuations[53]. - The company is adapting to the real estate market by expanding its affordable housing offerings and shifting from a "real estate developer" to a "city operator" model[149]. Innovation and Technology - The company has over 51,000 valid patents and has been recognized with 88 China Patent Awards since 2009, showcasing its commitment to innovation[16]. - The company successfully launched the world's first large-scale 3R low-carbon blast furnace demonstration project and completed the trial operation of a hydrogen-based direct reduction vertical furnace[13]. - The company has made significant advancements in technology, including the development of a fully autonomous direct reduction iron device and the world's only 5,600 mm thick plate rolling mill equipment[47]. - The company is actively pursuing the "181" initiative to accelerate research and development in core processes, green development, and intelligent manufacturing[47]. - Research and development expenses for 2023 were RMB 19.73 billion, up from RMB 18.73 billion in 2022, indicating a focus on innovation[27]. Market Performance and Contracts - The new signed contract amount reached CNY 1,424.779 billion, reflecting strong business performance and growth[12]. - The new contract amount signed in 2023 reached CNY 1,424.78 billion, an increase of CNY 81.21 billion (6.04%) compared to 2022's CNY 1,343.57 billion[25]. - The company secured major projects including the Xinjiang Huoyun Lead-Zinc Smelting Project and the Indonesia MMP Nickel-Iron Smelting EPC Project, enhancing its industry position[13]. - The company successfully signed significant contracts, including a 66.2 billion RMB contract for the Xinjiang Huoyun lead-zinc smelting project and a 67.2 billion RMB contract for the Bangladesh Anwar integrated steel plant project[49]. Corporate Governance and Compliance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[2]. - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[2]. - The company has established specialized committees within its board to ensure effective governance and compliance with regulatory requirements[169]. - The company has adhered to the Corporate Governance Code and has implemented best practices where applicable during the reporting period[170]. - The company has taken measures to ensure compliance with legal regulations and corporate governance codes[178]. Environmental and Social Responsibility - The company has established a strong commitment to ecological civilization and environmental protection, aligning with national strategies for sustainable development[163]. - The company has made significant progress in green construction, adding 2 new green factories and achieving 77 national green construction design and construction evaluations, a 28% increase year-on-year[164]. - The company donated approximately CNY 4.1477 million during the reporting period, including charitable contributions to various regions and disaster relief efforts[160]. - The company emphasizes the importance of environmental, social, and governance (ESG) practices, having received multiple awards for investor relations and governance[171]. Future Outlook - For 2024, the company plans to increase revenue by 4.13% to 660 billion CNY and aims for a new contract amount of 1,500 billion CNY, representing a year-on-year increase of 5.28%[145]. - The company is focused on enhancing its core competitiveness in the metallurgical engineering sector, with an emphasis on domestic and international dual circulation to mitigate market risks[147]. - The company plans to enhance its procurement strategies in response to fluctuations in commodity prices, aiming to reduce production costs through improved management and innovation[152]. - The company aims to create a world-class enterprise with strong core competitiveness and become a trusted general contractor in basic construction[143].