HXSS(600477)2024-03-29 16:00Financial Performance - The company achieved an operating income of CNY 10.82 billion in 2023, representing an 8.90% increase compared to CNY 9.94 billion in 2022[25]. - The net profit attributable to shareholders was CNY 293.62 million, a 9.62% increase from CNY 267.86 million in the previous year[25]. - The basic earnings per share for 2023 was CNY 0.125, slightly up by 0.81% from CNY 0.124 in 2022[26]. - The company reported a net cash flow from operating activities of CNY -561.19 million, an improvement of 32.81% compared to CNY -835.23 million in 2022[25]. - The weighted average return on equity increased to 5.74% in 2023, up from 5.35% in 2022[26]. - The company had a total of CNY 5.18 billion in net assets attributable to shareholders at the end of 2023, a 2.14% increase from CNY 5.07 billion at the end of 2022[25]. - The company’s net profit after deducting non-recurring gains and losses was CNY 249.92 million, compared to CNY 190.19 million in 2022[25]. - The company achieved operating revenue of CNY 10.82 billion, an increase of 8.90% compared to the previous year[68]. - The net profit attributable to shareholders was CNY 294 million[68]. - The gross profit margin improved by 2.25 percentage points to 15.40%[72]. Dividends and Share Capital - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares, totaling approximately 117.96 million RMB (including tax) based on a distribution base of 2,359,113,438 shares[6]. - The company has a total share capital of 2,369,111,152 shares, with 9,997,714 shares repurchased[6]. - The company distributed a cash dividend of 0.35 RMB per 10 shares, totaling 82,568,970.33 RMB, based on a distribution base of 2,359,113,438 shares[153]. Contracts and Projects - The company signed new contracts worth CNY 17.18 billion, with a year-on-year growth of 22.55% in the steel structure business[37]. - The company signed multiple projects during the reporting period, including the Meituan Shanghai Technology Center and the Longji Photovoltaic Component Industrial Park, showcasing its strong presence in the steel structure sector[38]. - The company completed a total of 187 projects during the reporting period, with a total value of RMB 677,320.30 million[89]. - The company has 353 ongoing projects, with a total value of RMB 2,143,277.17 million, including 335 domestic projects valued at RMB 2,017,875.94 million[91]. - The company signed 363 new projects during the reporting period, amounting to RMB 1,718,066.43 million[92]. - The total amount of orders on hand at the end of the reporting period was RMB 1,223,358.15 million, with RMB 84,139.03 million for signed contracts not yet started and RMB 1,139,219.12 million for ongoing projects[93]. Risk Management - The company has outlined potential risks in its annual report, which investors should be aware of[10]. - The company faces risks related to the concentration of its main business in the steel structure sector, which is sensitive to macroeconomic conditions and government policies[113]. - Fluctuations in raw material prices, particularly steel, could impact profit levels, but the company aims to mitigate this risk through timely procurement and strategic supplier relationships[115]. Governance and Compliance - The company has established a robust governance structure, holding four shareholder meetings in the reporting period to ensure compliance with legal and regulatory requirements[120]. - The company held 19 board meetings during the reporting period, ensuring compliance with the Articles of Association and making decisions prudently[121]. - The company emphasizes independent operations from its controlling shareholder, maintaining separation in personnel, assets, finance, and business[122]. - The company has implemented a comprehensive investor relations management system, including various communication channels to engage with investors[123]. - The company disclosed its 2022 annual report and financial statements, which were approved during the annual general meeting held on April 25, 2023[124]. - The company received regulatory warnings from the Shanghai Stock Exchange and the China Securities Regulatory Commission in August 2022 and September 2023, respectively, indicating compliance issues[135]. Environmental Responsibility - The company has installed three sets of air pollution control facilities in its painting areas, achieving waste gas treatment efficiencies of 89% and 90.9%[165]. - The company’s total emissions of volatile organic compounds (VOCs) were reported at 1.6413 tons per year, with no exceedance of the emission standards[164]. - The company has a total of 300 working days per year, with daily operations based on an 8-hour workday[165]. - The company has established emergency response plans for environmental incidents, with updates completed in 2023 for its facilities in Jiangxi and Bozhou[168]. - The company has completed environmental monitoring by third parties to ensure compliance with pollution discharge standards[169]. - The company has established a dedicated environmental protection department to manage and supervise daily environmental operations[172]. Research and Development - Research and development expenses increased by 14.81% to CNY 560 million[69]. - The company has a strong focus on steel structure housing technology research and development, with its third-generation steel structure housing construction technology applied in significant projects[53]. - The company is focusing on the intelligent transformation of the steel structure industry, with significant R&D investments in welding technology[105]. - The number of R&D personnel reached 1,321, representing 15.81% of the total workforce[81]. - The company plans to continue its strategic initiatives, including potential mergers and acquisitions, to drive growth[129]. Market Expansion and Strategy - The company aims to leverage the "Belt and Road" initiative to expand its international business, focusing on markets in Central Asia and Southeast Asia[46]. - The company is actively participating in the "going out" strategy, providing design, construction, and EPC services in overseas markets[47]. - The company anticipates that the growth rate of foreign contracted engineering business will exceed that of domestic business in 2024[104]. - The company plans to significantly increase new contracts and sales revenue while expanding into countries along the Belt and Road Initiative[111]. Employee Management - The total number of employees in the parent company and major subsidiaries is 8,292, with 5,394 in production, 395 in sales, and 931 in technical roles[148]. - The company conducted 2,306 training sessions with a total participation of 43,364 person-times, achieving a 100% training coverage rate[151]. - The company has implemented a comprehensive salary policy based on position, ability, and performance contributions[149]. - The company has established a performance management system for senior management, linking their performance bonuses to their job roles and work achievements[160]. Legal Matters - The company is actively involved in bankruptcy proceedings related to Xinjiang Tian Sheng, with a focus on recovering debts[191]. - The company has reported a total of 24.88 million yuan in debts owed by Xinjiang Tian Sheng Industrial Co., which has entered bankruptcy reorganization[191]. - The company is pursuing a lawsuit for 15.51 million yuan in project payments and 703.06 thousand yuan in interest from Sichuan Province[194]. - The company has a pending claim of 7.21 million yuan for the Changsha International Conference Center project, with a ruling in its favor[194].