STEC(SH:600820)2024-04-19 10:55Financial Performance - The company's operating revenue for 2023 reached CNY 74.19 billion, representing a 2.62% increase compared to CNY 72.30 billion in 2022[17]. - Net profit attributable to shareholders was CNY 2.94 billion, up 2.92% from CNY 2.86 billion in the previous year[17]. - The net profit after deducting non-recurring gains and losses increased by 10.35% to CNY 2.71 billion from CNY 2.46 billion in 2022[17]. - Basic earnings per share for 2023 was CNY 0.93, a 2.20% increase from CNY 0.91 in 2022[18]. - The weighted average return on equity decreased by 0.51 percentage points to 10.31% in 2023 from 10.82% in 2022[18]. - The total assets at the end of 2023 were CNY 161.92 billion, reflecting a 5.91% increase from CNY 152.88 billion at the end of 2022[17]. - The net assets attributable to shareholders increased by 5.05% to CNY 28.94 billion from CNY 27.55 billion in 2022[17]. - The company reported a net profit of CNY 1.44 billion in Q4 2023, with a significant increase in operating revenue to CNY 27.29 billion[20]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.30 RMB per 10 shares, totaling approximately 723.14 million RMB based on a total share capital of 3,144,096,094 shares as of December 31, 2023[3]. - The company has no plans for capital reserve transfers or stock dividends in the current profit distribution proposal[3]. - The company reported a remaining undistributed profit of approximately 16.22 billion RMB to be carried forward to future years[3]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[2]. - The board of directors and management have confirmed the accuracy and completeness of the financial report, ensuring accountability[2]. - The company maintains a commitment to transparency and has disclosed all necessary documents in compliance with regulatory requirements[7]. - There are no non-operational fund occupations by controlling shareholders or related parties reported[4]. - The company has not violated decision-making procedures in providing guarantees[4]. Operational Highlights - The company signed a total of 95.38 billion yuan in new construction, design, and operation orders during the reporting period, representing a year-on-year increase of 14.11%[26]. - The energy engineering segment within the construction business saw a significant year-on-year growth of approximately 106%[27]. - Major projects won include the Singapore Changi Airport T2 terminal connection facility project (approximately 3.345 billion yuan) and the Qidong Wujiang high-end manufacturing industrial park investment and development project (1.969 billion yuan)[27]. - The company completed the issuance of asset-backed securities with an initial issuance amount of 1.87 billion yuan, providing strong financial support for its main business development[27]. Research and Development - The company has established two national-level R&D platforms and increased its high-tech enterprises to 20, with 10 Shanghai Science and Technology Awards received in 2023[39]. - The company has a total of 2,490 authorized patents, including 767 invention patents, with 287 new authorizations in 2023[39]. - The company has successfully implemented a digital shield tunneling technology that improved tunnel quality by 30%, production efficiency by 15%, and reduced resource consumption by 10%[40]. - The company is committed to enhancing its research and development efforts to maintain a competitive edge in the infrastructure sector[94]. Environmental and Social Responsibility - The company invested approximately 192.73 million yuan in environmental protection during the reporting period[146]. - The company conducted 2,520 person-times of environmental protection training during the reporting period[149]. - The company has established an environmental management system and revised its environmental protection management regulations to reduce resource consumption and pollution emissions[149]. - The company has actively promoted biodiversity protection initiatives, including establishing a biodiversity training center in Singapore[150]. Strategic Initiatives - The company is focusing on digital transformation and smart operations to optimize its service offerings and improve project execution[93]. - The company is actively pursuing mergers and acquisitions to expand its market footprint and enhance operational capabilities[90]. - The company aims for a revenue growth of 5-10% and a net profit increase of 5-10% in 2024 compared to 2023[92]. - The company plans to enhance its core advantages through supply chain integration and innovation in technology and finance[93]. Financial Management - The total amount of long-term receivables and other non-current assets related to infrastructure investment is ¥22.740 billion and ¥20.976 billion, respectively[78]. - The total debt financing amount as of the end of 2023 is ¥35.597 billion, with long-term loans accounting for 60.24% of the total[78]. - The company raised ¥30.533 billion in bank loans during 2023, primarily for infrastructure investment projects[78]. - The company has not experienced any overdue repayment of buyback funds for infrastructure projects, indicating effective risk management[78]. Corporate Governance - The company has made commitments to avoid competition with its controlling shareholder, ensuring compliance with operational independence[101]. - The company has approved several resolutions in its shareholder meetings, including financial budget reports and profit distribution plans for 2023[103]. - The total remuneration for all directors, supervisors, and senior management was 30.0469 million yuan[113]. - The company held a total of 9 board meetings in 2023, with 2 conducted in person and 7 via communication methods[120].