LJRB(600853)2024-04-19 10:37Financial Performance - The company's operating revenue for 2023 was 17,428.3 million, representing a 2.77% increase compared to 16,959.13 million in 2022[22]. - The net profit attributable to shareholders for 2023 was 334,141 million, a decrease of 4.35% from 349,349.1 million in 2022[22]. - The basic earnings per share for 2023 was 0.33 yuan, down 2.94% from 0.34 yuan in 2022[23]. - The total assets increased by 12.52% to 36,520.1 million in 2023 from 32,455.34 million in 2022[22]. - The weighted average return on equity decreased to 11.97% in 2023 from 14.15% in 2022, a reduction of 2.18 percentage points[23]. - The total profit for the period was CNY 49,972.31 million, with a net profit attributable to shareholders of CNY 33,414.19 million[62]. - The company achieved operating revenue of CNY 1,742,832.68 million and a net profit attributable to shareholders of CNY 334,141.9 million during the reporting period[32]. - The company reported a net profit of CNY 4.11 billion in 2023, slightly below the planned CNY 4.2 billion, achieving 98% of its target[108]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 0.35 CNY per 10 shares, totaling approximately 35.52 million CNY, which represents 10.63% of the net profit attributable to shareholders for the year[5]. - The net cash flow from operating activities for the fourth quarter was 1,558,281,765.67, showing a significant recovery compared to previous quarters[24]. - The net cash flow from operating activities was negative due to uncollected payments from large projects, which are expected to be recovered in 2024[65]. - The company reported a net cash flow from operating activities of -CNY 1,535,033,159.82, reflecting challenges in cash generation during the period[63]. Risk Management - The company has not reported any significant risk events during the reporting period, and potential risks have been detailed in the report[9]. - The company has not faced any violations in decision-making procedures regarding external guarantees[8]. - The company faces risks related to environmental factors, foreign project implementation, and geopolitical uncertainties affecting its business operations[109][110]. - The company is also exposed to financing risks due to increased competition and the need for substantial capital for project execution[111]. Governance and Compliance - The company has established a diverse board of directors consisting of 11 members, with 4 independent directors, ensuring compliance with legal requirements and effective governance[120]. - The supervisory board is composed of 5 professionals from finance, auditing, law, and discipline, with external supervisors holding a majority, enhancing its supervisory role[121]. - The company has implemented strict insider information management protocols, ensuring no violations of insider trading regulations were reported during the year[122]. - The company has committed to avoiding competition with its controlling shareholder, with specific commitments made by related groups to limit their business activities to non-competing areas[123]. Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22]. - The company is actively participating in the Belt and Road Initiative, with projects like the Heihe-Blagoveshchensk Highway Bridge recognized as exemplary cases[47]. - The company is focusing on expanding into emerging sectors such as renewable energy and ecological protection, aligning with national strategic development directions[106]. - The company aims to improve its project execution efficiency, as indicated by the significant amount of ongoing projects and signed contracts[97]. Research and Development - The company initiated 13 new company-level research projects and completed 11 projects, with 5 achieving recognition from the Heilongjiang Provincial Housing and Urban-Rural Development Department[38]. - The company has filed for 148 new intellectual property rights, including 9 invention patents and 127 utility model patents, demonstrating its commitment to innovation[57]. - R&D expenses grew by 13.76%, attributed to increased project research based on construction characteristics in 2023[64]. Environmental and Social Responsibility - The company invested CNY 26.73 million in environmental protection during the reporting period[185]. - The company reduced carbon emissions by 19,522 tons through various carbon reduction measures[191]. - Total donations and public welfare project investments amounted to CNY 3.01 million, benefiting approximately 39,800 people[194]. - The company has committed to promoting green construction and low-carbon measures in its operations[192]. Employee and Management - The company has a workforce of 6,213 employees, with 58.6% holding professional titles, indicating a strong talent pool[61]. - The total remuneration for directors and senior management amounted to 840.47 million yuan[136]. - The company organized 531 training sessions in 2023, training a total of 20,183 participants, enhancing employee skills across various sectors[167]. Future Outlook - For 2024, the company aims to secure new contract orders of CNY 30 billion and projects operating revenue of CNY 18.5 billion, with a net profit target of CNY 4.22 billion[108]. - The company plans to release its ESG report alongside the annual report on April 20, 2024[193]. - The company is focused on enhancing compliance and legal governance through the appointment of Huo Guang as the chief compliance officer[146].