Jiangsu Zhongshe (SZ:002883)2024-04-22 11:05Financial Performance - The company's operating revenue for 2023 was ¥740,753,069, a decrease of 0.77% compared to ¥746,477,642 in 2022[23]. - Net profit attributable to shareholders was ¥42,778,893, representing a decline of 17.33% from ¥51,699,324 in the previous year[23]. - Basic and diluted earnings per share decreased to ¥0.27, down 18.18% from ¥0.33 in 2022[23]. - Total assets at the end of 2023 reached ¥1,318,822,722, reflecting a growth of 5.36% from ¥1,250,443,070 in 2022[23]. - Net assets attributable to shareholders increased by 5.75% to ¥677,775,025 from ¥640,932,123 in the previous year[23]. - The company's total operating costs were ¥485,329,047.08, down 1.68% from ¥493,644,516.94 in 2022[71]. - The gross profit margin for the service industry was 34.48%, a slight increase of 0.61% from the previous year[69]. - The company reported a significant increase in government subsidies, amounting to ¥2,880,752 in 2023, compared to ¥6,436,758 in 2022[30]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 0.65 RMB per 10 shares to all shareholders, based on a total of 156,157,166 shares[3]. - The net cash flow from operating activities increased significantly to ¥69,623,886, a growth of 3,846.10% compared to ¥1,858,568 in 2022[23]. - The net cash flow from financing activities was negative at -¥36,228,044.23 in 2023, a drastic decline from a positive ¥2,842,437.85 in 2022, representing a change of -1,374.54%[85]. - The cash dividend distribution plan for 2023 proposes a cash dividend of 0.65 CNY per 10 shares, totaling 10,150,215.79 CNY, which represents 23.73% of the net profit attributable to shareholders[158]. - The company maintains a cash dividend policy where the minimum proportion of cash dividends in profit distribution should reach 25%[154]. Business Operations and Strategy - The company has maintained its main business operations without any changes since its listing[21]. - The company focuses on urban and transportation infrastructure construction, providing comprehensive engineering design consulting services across various sectors, including highways, bridges, and environmental engineering[50]. - The company is actively enhancing its exploration of new business areas and technologies, aligning with trends in digital empowerment and carbon neutrality[47]. - The company aims to implement multi-disciplinary collaborative three-dimensional design, significantly improving design quality and engineering efficiency[48]. - The company is positioned to leverage opportunities in the market through mergers and acquisitions, enhancing its competitive edge and expanding its technological capabilities[49]. Research and Development - The company has developed a comprehensive digital management system, including a new financial management system and a BIM collaborative management platform[64]. - The company is focusing on emerging business sectors such as smart transportation, urban renewal, and low-altitude economy, aligning with national strategic initiatives[61]. - The company has completed research on the application of grouting reinforcement technology in road quality engineering, aiming to improve road stability and increase the utilization rate of old roads[76]. - The company is developing a green delivery model to enhance efficiency and reduce emissions in logistics, aligning with digital economy demands[77]. - The company has initiated a cost-reduction strategy, targeting a 15% decrease in operational expenses by optimizing resource allocation[133]. Market Trends and Opportunities - The smart transportation market in China is expected to grow from 165.8 billion yuan in 2020 to over 400 billion yuan by 2026, with a compound annual growth rate of approximately 16%[40]. - The government is promoting urban village renovations as a key initiative for improving living conditions and expanding domestic demand in major cities[41]. - The company sees significant opportunities in urban renewal and rural revitalization, aligning with national strategies to enhance living conditions and promote sustainable development[102]. - The company aims to capitalize on new business opportunities in intelligent transportation planning, project contracting, smart parking, and smart public transport systems as the intelligent transportation market continues to grow[99]. Governance and Compliance - The company has established a robust internal control system and governance structure, complying with relevant laws and regulations to protect investor interests[115][119]. - The company maintains independence from its controlling shareholders in terms of business operations, personnel, and financial management, ensuring no conflicts of interest[120]. - The company has not reported any mixed operations or shared offices with shareholders or related parties[121]. - The company has a clear organizational structure with distinct functional departments, ensuring independence from shareholders[121]. Employee and Management - The total number of employees at the end of the reporting period was 963, with 498 in the parent company and 465 in major subsidiaries[149]. - The professional composition of employees includes 732 technical personnel, 102 production personnel, and 34 sales personnel[149]. - The company conducted a total of 51 training courses throughout the year, with 2,784 participants in various training activities[152]. - The remuneration policy for employees is determined by the annual budget approved by the shareholders' meeting[151]. Social Responsibility - The company actively participated in public welfare projects, including the establishment of a memorial museum in collaboration with local government[172]. - The company has integrated modern technology into rural development while preserving local natural landscapes and cultural heritage, promoting high-quality rural industry development[175]. - The company successfully implemented milestone projects such as the environmental renovation in Diaoqi Town, which enhanced the living quality of local villagers[175].