ACEG(SH:600502)2024-06-14 07:39Financial Performance - In Q1 2024, the company achieved revenue of 13.538 billion CNY, with a net profit of 310 million CNY, reflecting a year-on-year decline in both revenue and net profit due to adverse weather conditions and project delays [2][3] - The operating cash flow at the end of 2023 was a net inflow of 3.671 billion CNY, a significant improvement attributed to increased cash inflow from construction activities and reduced cash outflow from PPP projects [2][3] Revenue and Profit Goals - The company aims to achieve a revenue of 97.5 billion CNY in 2024, representing a year-on-year growth of approximately 6.86%, and a total profit of 2.8 billion CNY, with a growth of about 6.47% [3][4] - New contract amounts for engineering business in Q1 2024 reached 38.979 billion CNY, showing a year-on-year increase of 1.37% despite market pressures [3][4] Market and Investment Strategy - The company plans to enhance its market share in the domestic market while actively expanding into national markets, leveraging its regional centers across various provinces [3][4] - The company is focusing on strengthening its investment business, particularly in stable revenue-generating projects like highways, to mitigate investment risks and improve quality [3][4] Business Development and Diversification - The company has established a comprehensive business structure covering the entire construction industry chain, including construction, investment, design, and new energy sectors [4][5] - In the green energy sector, the company operates seven hydropower stations with a total installed capacity of 246.1 MW, aiming to expand its renewable energy projects [4][5] Shareholder Returns - Over the past three years, the company distributed a total of 1.2037 billion CNY in cash dividends, accounting for 36.57% of the cumulative distributable profits [6][7] - For 2023, the proposed cash dividend is 2.6 CNY per 10 shares, totaling 446.3 million CNY, indicating a steady increase in shareholder returns [6][7] Corporate Governance and Value Management - The company emphasizes investor relations and aims to enhance its market value through effective governance and transparent communication [8] - Plans for 2024 include establishing a long-term mechanism to improve investment value and ensure alignment between intrinsic and market value [8]