CRCHI(688425)2024-03-28 16:00Financial Performance - The company's operating revenue for 2023 was CNY 1,002,746.69 million, a decrease of 0.73% compared to CNY 1,010,154.78 million in 2022[17]. - Net profit attributable to shareholders for 2023 was CNY 159,348.76 million, down 13.59% from CNY 184,414.78 million in 2022[17]. - The net cash flow from operating activities was CNY 70,353.27 million, a decline of 34.29% from CNY 107,072.24 million in 2022[17]. - Basic earnings per share for 2023 were CNY 0.30, a decrease of 14.29% from CNY 0.35 in 2022[18]. - The total operating revenue for 2023 was 10.027 billion RMB, remaining stable compared to the previous year[24]. - The company's main business revenue for the reporting period was 9.975 billion RMB, a decrease of 0.82% compared to the same period last year[61]. - The main business cost was 6.876 billion RMB, an increase of 3.48% year-on-year[61]. - The gross profit margin for the main business was 31.06%, a decrease of 2.87 percentage points compared to the previous year[63]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.90 yuan per 10 shares, totaling approximately 480 million yuan, which accounts for 30.12% of the net profit attributable to shareholders for 2023[5]. - The cash dividend for the year 2022 was 1.04 RMB per 10 shares, totaling 554,683,688 RMB, which was 30.08% of the net profit attributable to shareholders[131]. - In mature stages without major capital expenditure plans, cash dividends should account for at least 80% of the profit distribution; if there are major expenditures, this proportion should be at least 40%[172]. Research and Development - The R&D expenditure as a percentage of operating revenue was 8.79% in 2023, down from 9.19% in 2022[18]. - Research and development expenses for 2023 amounted to 0.881 billion RMB, with 1,006 patent applications filed[27]. - The company applied for a total of 1,134 patents this year, with 699 granted, compared to 5,112 applications and 2,972 grants last year, indicating a significant increase in patent activity[42]. - R&D expenditures totaled ¥88,109.3 million this year, a decrease of 5.10% from ¥92,842.05 million last year, with R&D spending as a percentage of revenue dropping from 9.19% to 8.79%[43]. - The company has developed the world's first large-slope spiral tunnel boring machine, "Beishan No. 1," which won the 2023 China Innovation "Good Design" Gold Award[51]. Market Expansion and International Business - The company achieved new contract signing amounting to 16.182 billion RMB in 2023, a year-on-year increase of 1.48%[24]. - The company's overseas business saw a significant growth of 52.64%, with new contracts totaling 2.060 billion RMB[26]. - The company exports products to over 40 countries, including the USA, Italy, and Turkey, contributing to global infrastructure development[95]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[110]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The board of directors has confirmed that all members attended the board meeting, ensuring the authenticity and completeness of the annual report[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for external guarantees[7]. - The company has established a transparent complaint and rights protection mechanism for consumers to address dissatisfaction with products or services[155]. Innovation and Technology - The company has developed a complete set of intelligent tunneling equipment, achieving automation and precision control in complex tunneling environments[36]. - The company has successfully launched over 10 new products that fill domestic and global gaps, including a series of key technologies in tunnel boring machines, achieving international leading levels[36]. - The company has established the first national-level enterprise technology center in the industry, enhancing its innovation capabilities[50]. - The company is committed to developing innovative products and technologies, ensuring that major products possess complete independent intellectual property rights[30]. Risk Management - The company has described potential significant risks in the report, which investors should be aware of[3]. - The company is facing risks related to macroeconomic conditions and international supply chain disruptions, which may impact new contracts and revenue[57]. - The company emphasizes risk management by establishing a robust risk control system across financial, quality, and safety aspects[95]. Employee and Workforce Management - The total number of employees in the company is 4,910, with 4,023 in the parent company and 887 in major subsidiaries[126]. - The employee composition includes 1,437 production personnel, 395 sales personnel, 2,057 technical personnel, 73 financial personnel, 658 administrative personnel, and 290 others[126]. - The company has a performance-based salary system that links salary growth to company performance, with a focus on a "1+N" model for employee compensation[128]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 9.9869 million RMB[115]. Environmental and Social Responsibility - The company invested approximately 24.67 million RMB in environmental protection during the reporting period[137]. - The carbon dioxide emissions per ten thousand RMB of output decreased by 30.91% compared to the end of the 13th Five-Year Plan, reaching 0.0076 tons[139]. - The company has been recognized as a "National Green Factory" and "Intelligent Manufacturing Demonstration Factory" by the Ministry of Industry and Information Technology[146]. - The company provided approximately 1.34 million RMB in support for poverty alleviation and rural revitalization projects, benefiting local communities[149]. Strategic Initiatives - The company is implementing a digital transformation strategy, focusing on five key areas: digital R&D design, robotic products, intelligent manufacturing, smart services, and intelligent management[51]. - The company aims to enhance its competitive edge by accelerating digital transformation and technological upgrades in response to industry trends[93]. - The company plans to adjust its operational strategies based on industry and market conditions to achieve its revenue goals[96].