Company code: China Railway Signal & Communication Corporation Limited(688009) company abbreviation: China Railway Signal & Communication Corporation Limited(688009) China Railway Signal & Communication Corporation Limited(688009)
Annual report for 2021
Important tips
1、 The board of directors, board of supervisors, directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and integrity of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 2、 Unprofitable and unprofitable when the company is listed □ yes √ no III. tips on major risks
Please refer to the description of risks in Section IV “management discussion and analysis” of this report. 4、 All directors of the company attended the board meeting. 5、 Ernst & Young Huaming Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6、 Zhou Zhiliang, the person in charge of the company, Hu Shaofeng, the person in charge of accounting, and Zhang Shihu, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in the annual report. 7、 The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
After deliberation at the 2nd meeting of the 4th board of directors, the company plans to distribute cash dividends of RMB 1.7 (including tax) to all shareholders for every 10 shares based on the total share capital of 10589819000 shares on December 31, 2021, totaling RMB 18 Yuan Cheng Cable Co.Ltd(002692) 30. The profit distribution plan needs to be deliberated and approved by the company’s 2021 annual general meeting of shareholders. 8、 Whether there are important matters such as special arrangements for corporate governance □ applicable √ not applicable IX. risk statement of forward-looking statements √ applicable □ not applicable
The judgment and interpretation of the future economic trends and macro policies outside China in this report are partially subjective and some predictive statements made based on specific preconditions. The relevant judgment and interpretation may be affected by constraints, and the final result or trend may be different from these predictive statements.
The future plans, development strategies and other forward-looking descriptions involved in this report do not constitute the company’s substantive commitment to investors. Please pay attention to investment risks. 10、 Is there any non operational occupation of funds by the controlling shareholders and their related parties? No
11、 Whether there is any external guarantee in violation of the specified decision-making procedures? No 12. Whether more than half of the directors cannot guarantee the authenticity, accuracy and integrity of the annual report disclosed by the company? No 13. Others □ applicable √ not applicable
catalogue
Section 1 interpretation Section II speech by the chairman of the board of Directors Section III company profile and main financial indicators 8 section IV Management Discussion and Analysis Section V corporate governance Section VI environment, social responsibility and other corporate governance 71 Section VII important matters Section VIII changes in shares and shareholders Section IX preferred shares Section 10 relevant information of corporate bonds 109 section Xi financial reporting one hundred and fourteen
The list of documents for future reference contains the financial statements signed and sealed by the person in charge of the company, the person in charge of accounting and the person in charge of accounting.
The original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant.
The list of documents for reference, the text of all company documents and the original version of the announcement publicly disclosed on the website designated by the CSRC during the reporting period.
Section I interpretation
1、 Interpretation in this report, unless the context otherwise requires, the following words have the following meanings: Interpretation of common words
China Railway Signal & Communication Corporation Limited(688009) , the company and the company refer to China Railway Signal & Communication Corporation Limited(688009)
CCSC group refers to China Railway Communication and signaling Group Co., Ltd., the controlling shareholder of the company
SASAC refers to the state owned assets supervision and Administration Commission of the State Council
CSRC refers to the China Securities Regulatory Commission
Shanghai stock exchange refers to Shanghai Stock Exchange
Stock exchange of Hong Kong means the stock exchange of Hong Kong Limited
State Railway Group refers to China National Railway Group Co., Ltd
China Urban Rail Transit Association refers to China Urban Rail Transit Association
TACs refers to train autonomous circulation system, which is a signal system for trains to realize autonomous resource management and active interval protection based on operation plan and real-time location.
CTCs refers to the Chinese train control system, a system developed in China to ensure the safety of train operation. According to the operation requirements of different lines and according to the function and equipment configuration, CTCs is divided into level 0 to level 4. The higher the level, the higher the applicable train speed and the higher the technical difficulty.
CIPS refers to computer integrated processing system, freight marshalling yard automation system, which is used to centrally supervise and control the operation of marshalling yard
Unification.
ITCs refers to incremental train control system, enhanced train control system
At present, it is applied to Qinghai Tibet railway.
Matc refers to magnetic automatic train control, medium and low speed maglev control system, an automatic control system of Moving Block Train Based on cross induction loop line, which is suitable for medium and low speed maglev train.
ATO refers to automatic train operation system, which realizes automatic guarantee of train operation and can automatically adjust train speed and operation status.
CBTC refers to communication based train control system, urban rail transit train control system, automatic train control system based on wireless communication, a system that realizes two-way communication between urban rail transit train and ground equipment by wireless communication, so as to realize train operation control.
RBC refers to radio blocking center, which is the ground core equipment of CTCS-3 system. According to the train status provided by train ATP, interlocking path status provided by interlocking device, track occupation status, temporary speed limit command of line provided by TSRs, etc., RBC generates driving permission and line description for the controlled train Temporary speed limit and other control information are transmitted to on-board ATP through GSM-R network to control the train running state.
ATP refers to automatic train protection, the equipment that automatically brakes when the train exceeds the specified speed.
EPC refers to engineering procurement construction. The company is entrusted by the owner to contract the whole process or several stages of the design, procurement, construction and commissioning of the construction project in accordance with the contract.
Note: there may be a tail difference between the sum of individual data and the total amount of relevant data in this report, which is caused by rounding during calculation.
Section II chairman’s speech
Dear shareholders
2021 is a milestone year for China. The Communist Party of China is celebrating its centennial birthday, building a well-off society in an all-round way, realizing the first Centennial goal and comprehensively opening a new journey of the second Centennial struggle. Over the past year, China Railway Signal & Communication Corporation Limited(688009) resolutely implemented the decision-making and deployment of the CPC Central Committee and the State Council, implemented the work requirements of the Party committee of the SASAC, actively responded to the complex situation of the century epidemic situation and profound changes in the industry situation, overcame difficulties, worked hard, adhered to innovation driven, continued to deepen reform, firmly held the bottom line, and achieved a stable and good start to the 14th five year plan.
This year, we made independent innovation and hard core technology led the development of the industry. Adhering to the “four orientations”, focusing on “consolidating industry leadership, ensuring safety and quality, supporting business expansion and promoting international transformation”, the company accelerated the tackling of key core technologies, deepened the reform of scientific and technological system and mechanism, and accelerated the pace of scientific and technological collaborative innovation. The independent C3 train control system completed the matching test of he’an high-speed railway, Qiji TACs system took the lead in realizing China’s commercial use, and a number of major achievements such as etcs-2 train control system, Metro FAO fully automatic operation system and urban rail integrated video monitoring system have been transformed and commercially applied for the first time. Remarkable achievements have been made in the reform of the scientific and technological system, and the intensity of R & D investment has increased steadily. The annual R & D investment was 1.902 billion yuan. We have orderly promoted “taking the lead”, “centralized research”, “achievement incubation” and “risk mortgage”, and explored the implementation of the management of the list of special items of total wages and the separate listing of wage expenditure. Actively apply for state key laboratories, add one national enterprise technology center, five provincial and ministerial innovation platforms, and build three overseas laboratories. Casco and Xi’an industrial group were awarded the national “single champion of manufacturing industry”, and Beixin company was awarded the “pilot demonstration of integrated development of manufacturing industry and Internet” by the Ministry of industry and information technology.
This year, we worked hard against adversity and steadily improved the quality of market operation. In the face of the adverse situation of the decline of new mileage of high-speed railway and fierce market competition, the company responded quickly and adjusted the deployment to fully mobilize the marketing enthusiasm at all levels. The railway market adheres to multi-point development, contracting 8 projects such as Guangzhou Shantou high-speed railway, Huhang high-speed railway and Kunming hub, and its market share ranks first in the industry; It contracted major projects such as the local railway lianle line project, the special railway line EPC of Henan Yuzhong Logistics Port, the Shuohuang railway reconstruction project, and the contract amount in the railway market remained stable. The urban rail transit market has maintained its leading position in the industry. Casco, urban transportation company, Shanghai Engineering Bureau and communication group have continuously improved their product and technical service system, gained half of the market share of the national urban rail transit control system, and further expanded their leading edge in the industry. Breakthroughs have been made in overseas markets to overcome the impact of the spread of the epidemic, and contracted the projects of the old Nuosu section and Nuosu section of the Hungarian Cypriot railway, contributing to China’s high-speed railway entering the first order in Europe; Undertake metro projects in Mexico and open up new regional markets. This year, we bravely took the lead and served the major national development strategy. Focusing on the coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River economic belt, the construction of the Great Bay area of Guangdong, Hong Kong and Macao, the integrated development of the Yangtze River Delta, the twin city economic circle of Chengdu and Chongqing and other major national development strategies, the company took the initiative to meet regional needs, gave full play to its own advantages, participated in the construction of major national projects, and ensured the opening and operation of 1500 km high-speed railway projects such as Lianyungang Xuzhou high-speed railway, Jiangxi Shenzhen high-speed railway, southern Shandong high-speed railway, Hangzhou Shaoxing Taiwan high-speed railway and Chaoling high-speed railway throughout the year; It ensured the smooth delivery of 2309 kilometers of railway trunk lines such as Yumo, Lalin, Jintai and Nansha port; Ensure North
