JSTI(SZ:300284)2024-04-15 13:41Dividend Distribution - The company plans to distribute a cash dividend of 1.15 RMB per 10 shares to all shareholders, based on a total of 1,262,827,774 shares[3]. - The company has not indicated any stock bonus distribution, maintaining a focus on cash dividends[3]. - The proposed cash dividend for 2023 is 1.15 CNY per 10 shares, amounting to 145,225,194.01 CNY, pending shareholder approval[148]. - The company has a cash dividend policy that mandates a minimum of 15% of distributable profits to be distributed as cash dividends if there are no major investment plans or cash expenditures[143]. - The company plans to distribute cash dividends of no less than 20% of the distributable profits each year from 2023 to 2025, provided there are no major investment plans or cash expenditures[145]. - The company’s cash dividend policy requires a minimum of 40% of profits to be distributed as cash dividends if there are significant capital expenditures during the mature phase of development[146]. - The total distributable profit for the year was reported at 1,020,018,429.20 CNY, with cash dividends constituting 100% of the profit distribution[148]. - For the fiscal year 2022, the company distributed cash dividends of 1.40 CNY per 10 shares, totaling 176,795,888.36 CNY[147]. Financial Performance - The company's operating revenue for 2023 was CNY 5,277,806,166.67, representing a year-on-year increase of 0.98% compared to CNY 5,226,528,618.69 in 2022[23]. - The net profit attributable to shareholders decreased by 44.47% to CNY 329,594,133.28 in 2023 from CNY 593,489,119.46 in 2022[23]. - The cash flow from operating activities increased by 17.17% to CNY 307,135,283.88 in 2023 compared to CNY 262,122,585.35 in 2022[23]. - The total assets at the end of 2023 were CNY 15,917,992,716.77, a 2.64% increase from CNY 15,509,265,228.61 at the end of 2022[23]. - The basic earnings per share decreased by 44.47% to CNY 0.2610 in 2023 from CNY 0.4700 in 2022[23]. - The company reported a total of CNY 57,821,616.15 in non-recurring gains and losses for 2023, down from CNY 67,325,138.42 in 2022[29]. - The total operating revenue for 2023 was approximately ¥5.28 billion, representing a year-on-year increase of 0.98% compared to ¥5.23 billion in 2022[59]. - The net profit attributable to shareholders was CNY 330 million, a year-on-year decrease of 44.5%[49]. - Operating cash flow reached CNY 310 million, representing a year-on-year increase of 17.2%[49]. Strategic Outlook and Development - The report emphasizes the importance of risk awareness regarding future plans and development strategies, highlighting potential risk factors and countermeasures[3]. - The company has outlined its future development outlook and potential risks in detail, which investors are encouraged to review[3]. - The report includes a comprehensive discussion on the company's financial performance and strategic direction for the upcoming year[3]. - The company plans to continue focusing on major infrastructure projects, with a 5.9% year-on-year growth in national infrastructure investment in 2023[33]. - The company is actively involved in the implementation of the "14th Five-Year Plan" with a focus on key areas and weak links in infrastructure development[34]. - The company aims to leverage government policies to stabilize the economy and promote growth through effective investment strategies[34]. - The company is focusing on digital transformation and industrial development to enhance its market competitiveness[97]. - The company aims to enhance decision-making quality and project implementation through its engineering consulting services, covering a wide range of industries[41]. International Expansion - In 2023, the total revenue from overseas contracted projects reached RMB 1,133.88 billion, an increase of 8.8% (equivalent to USD 160.91 billion, up 3.8%) [35]. - New contract value for overseas projects was RMB 1,863.92 billion, growing by 9.5% (equivalent to USD 264.51 billion, up 4.5%) [35]. - The revenue from projects in Belt and Road countries amounted to RMB 930.52 billion, a growth of 9.8% (equivalent to USD 132.05 billion, up 4.8%) [35]. - The new contract value in Belt and Road countries was RMB 1,600.73 billion, increasing by 10.7% (equivalent to USD 227.16 billion, up 5.7%) [35]. - The company expanded its international presence, with foreign revenue reaching approximately ¥713.67 million, a 9.08% increase from the previous year[59]. Digital Transformation and Innovation - The company focuses on digital transformation in transportation, with a push for smart road construction and integration with supply chains[39]. - The company launched the "Green Transportation Cloud," a comprehensive information platform for carbon monitoring and pollution prevention in the transportation sector[51]. - The company’s digital and industrial transformation efforts led to an 80% rapid growth in smart safety digital business in 2023[52]. - The company plans to enhance its digital transformation by integrating data-driven decision-making and risk management into its operations[91]. - The company will leverage cloud, big data, IoT, and AI technologies to enhance digital productivity in infrastructure projects[91]. - The company is actively pursuing opportunities for mergers and acquisitions to enhance its competitive edge in the market[109]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, ensuring accountability[3]. - The company is committed to improving its governance structure in compliance with relevant laws and regulations, ensuring equal treatment of all shareholders[101]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance requirements[102]. - The company has established a robust internal control system to enhance governance and operational efficiency[152]. - The company emphasizes compliance with regulatory requirements and has updated its internal control systems accordingly[153]. - The company has a transparent information disclosure system, with designated personnel responsible for investor relations and information management[105]. Employee Management and Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 15.183 million[126]. - The company has established a performance-based remuneration system for senior management, linking their annual salary to responsibilities and company performance[125]. - The independent directors receive an annual allowance of CNY 120,000 before tax[124]. - The company has a comprehensive performance management system to ensure fair value distribution based on employee performance[139]. - The company has a training program that includes leadership development, project management, and new employee onboarding, supported by an E-learning platform[140]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a comprehensive ESG management framework aligned with the United Nations' 2030 Sustainable Development Goals[159]. - The company is committed to reducing carbon emissions and promoting sustainable business practices[160]. - The company actively participates in social responsibility initiatives, contributing to rural revitalization efforts in various regions[162]. - The company has implemented training programs to enhance compliance awareness among employees and management[153]. - The company has achieved 100% integration of subsidiaries' assets and revenue into its internal control evaluation[155]. Acquisitions and Investments - The company acquired a 70% stake in Tongling Huaxin Engineering Quality Inspection Co., Ltd. for a cost of 9,148,300.00 CNY on January 30, 2023, with a reported profit of 2,007,515.94 CNY from the acquisition[173]. - The company disposed of a 65% stake in Fujian Yanning Shuntong Technology Development Co., Ltd. for 24,615,834.11 CNY on April 2023, resulting in a net asset difference of 11,131,332.61 CNY[173]. - The company is actively engaged in the acquisition of Huizhou Testing, which is expected to enhance its market position and profitability[167]. - The company has committed to a long-term commitment to avoid conflicts of interest and ensure fair transactions with related parties[166]. Risk Management - The company has established a mechanism for monitoring exchange rate fluctuations to manage risks associated with international sales[96]. - The company emphasizes the importance of post-merger integration to ensure that acquired companies maintain their competitive advantages while achieving synergies[96]. - The company is actively exploring PPP, BT, and BOT projects to mitigate policy risks and expand its market reach both domestically and internationally[94].