2024-03-28 16:00Financial Performance - The company reported a net profit of CNY 11,679,665 thousand for the year 2023, with a beginning retained earnings of CNY 39,435,876 thousand, resulting in a total distributable profit of CNY 44,765,270 thousand by year-end[7]. - The company's operating revenue for 2023 was CNY 1,137,993,486, representing a 3.80% increase from CNY 1,096,312,867 in 2022[26]. - The net profit attributable to shareholders for 2023 was CNY 26,096,971, a decrease of 2.19% compared to CNY 26,680,796 in 2022[26]. - The net cash flow from operating activities for 2023 was CNY 20,412,048, down 63.64% from CNY 56,134,952 in 2022[26]. - The total assets at the end of 2023 were CNY 1,663,019,578, reflecting a 9.13% increase from CNY 1,523,913,581 in 2022[26]. - The net assets attributable to shareholders increased by 6.69% to CNY 309,837,517 at the end of 2023, up from CNY 290,398,039 in 2022[26]. - The basic earnings per share for 2023 were CNY 1.73, a decrease of 1.70% from CNY 1.76 in 2022[27]. - The weighted average return on equity for 2023 was 9.80%, down 1.27 percentage points from 11.07% in 2022[27]. - The company reported a quarterly operating revenue of CNY 331,530,291 for Q4 2023, with a net profit of CNY 6,677,431 attributable to shareholders[30]. - The total profit for the year was CNY 38.8282 billion, reflecting a year-on-year growth of 2.65%[38]. - The net profit amounted to CNY 32.3287 billion, which is a 1.68% increase year-on-year[38]. Dividend Distribution - A cash dividend of CNY 3.50 per 10 shares (including tax) will be distributed, totaling CNY 4,752,840 thousand, which accounts for 20.18% of the total distributable profit attributable to ordinary shareholders[7]. - The company plans to maintain its dividend distribution amount even if there are changes in total share capital before the dividend record date[7]. - The board proposed a cash dividend of 0.350 CNY per share, totaling approximately 4,752,840 thousand CNY based on a total share capital of 13,579,541,500 shares as of December 31, 2023[187]. Market Position and Reach - The company is ranked 43rd in the 2023 Fortune Global 500, marking its 18th consecutive year in the list[16]. - The company operates in 32 provinces and regions in China and 143 countries globally, showcasing its extensive market reach[16]. - The company ranked 43rd in the "Fortune Global 500" and 3rd among the "ENR Top 250 Global Contractors"[35]. Innovation and R&D - The company has accumulated 35,832 patents and received 87 national science and technology awards, indicating strong innovation capabilities[16]. - Research and development investment intensity exceeded expectations, contributing to innovation and competitiveness[35]. - A total of 6,831 new patents were granted, including 2,008 invention patents, representing a 65% year-on-year increase[41]. - The total R&D expenditure for the company was CNY 26,748,953 thousand in 2023, accounting for 2.35% of total revenue[93]. - The company employed 28,832 R&D personnel, representing 10.77% of the total workforce[94]. Strategic Initiatives - The company plans to deepen state-owned enterprise reforms and enhance international operations as part of its strategic initiatives[36]. - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[30]. - The company aims to achieve a "dual zero" safety production goal, enhancing safety management levels[44]. - The company is focusing on the development of strategic emerging industries and future industries, with a clear roadmap for green low-carbon development[43]. - The company aims to optimize its investment structure while ensuring the balance, liquidity, and return on investment in its operations[58]. Risk Management - The company has faced significant risks including international management risks and project management risks, which are detailed in the management discussion section[11]. - The company emphasizes the importance of risk management, identifying major risks such as international operational management risk and project management risk[179]. - The company is implementing a comprehensive risk control system to address cash flow pressures from debt defaults and inventory accumulation[184]. Financial Integrity and Audit - The company has received a standard unqualified audit report from Deloitte Huayong, affirming the accuracy of its financial statements[6]. - The company has no non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[9]. Contract and Project Management - In 2023, the total new contracts signed by the company reached CNY 3,293.870 billion, representing a year-on-year growth of 1.51%[35]. - The total new contracts signed for the year reached 3,293.87 billion yuan, setting a new historical high[39]. - The company's backlog of uncompleted contracts reached CNY 66,898.253 billion, up 5.14% year-on-year, with domestic contracts making up 80.92% of this total[65]. Construction and Real Estate - The company's real estate sector achieved a total sales amount of CNY 1,213.95 billion in 2023, ranking 15th among national real estate enterprises[59]. - The company completed real estate development investments totaling CNY 82,408 million in 2023, with the Yangtze River Delta region receiving CNY 38,122 million, representing 46.25% of the total investment[148]. - The company has ongoing projects in 95 cities, with a total construction area of approximately 13,163,820 square meters[145]. Corporate Governance - The company adheres to corporate governance regulations and has implemented various governance mechanisms to ensure compliance and operational efficiency[198]. - The company has established a modern corporate governance structure, including the development of independent director work systems and decision-making processes[199]. Future Outlook - The company aims to achieve a new contract value of CNY 3,001.1 billion and an operating revenue of CNY 1,104.0 billion for the year 2024[177]. - The total cost and expenses, including taxes, are projected to be CNY 1,052.1 billion for 2024[177]. - The company plans to finance its 2024 operational needs through self-funding, issuing new shares, bank loans, and bonds[178].