STEC(SH:600820)2024-01-12 10:15Group 1: Company Overview - Shanghai Tunnel Engineering Co., Ltd. is the first listed infrastructure company in China, celebrating its 30th anniversary this year [3] - The company's business covers various sectors including tunnels, rail transit, roads and bridges, construction and real estate, water conservancy, energy, underground space, major equipment, green materials, digital business, and construction finance [3] - The primary markets are in the Yangtze River Delta, Greater Bay Area, and Central Plains, with operations in Southeast Asia, including Singapore [3] Group 2: Digital Business and Innovations - The company is developing a digital ecosystem for urban construction and operation, focusing on digital consulting, smart infrastructure, smart transportation, and data governance [3] - "Low-speed operation vehicle time-space" is the first data product listed on the Shanghai Data Exchange, providing early warning and guidance for social vehicles [3] - The "Digital Shield" technology integrates big data and AI for autonomous driving of shield tunneling machines, applied in 5 cities and 19 projects, achieving nearly 15 kilometers of autonomous tunneling [3] Group 3: Investment and Financial Performance - The company has invested 1.88 billion in a private placement for XCMG, marking its largest single investment in an industrial fund [4] - The cash dividend ratio has consistently exceeded 30% of the net profit attributable to the parent company in recent years [4] - In addition to annual dividends, the company also conducted semi-annual dividends in 2023 [4] Group 4: REITs and Asset Management - The company issued public REITs for the Qianjiang Tunnel, showcasing its capabilities in lifecycle operation management and smart operation [3] - The investment strategy includes BOT and PPP models for infrastructure projects, as well as fund and equity investments [4]