Shandong Hi-Speed Company Limited(600350) 3 on the evening of March 30, the annual report of 2021 was released. In 2021, the company realized an operating revenue of about 16.204 billion yuan and a net profit attributable to shareholders of listed companies of about 3.052 billion yuan, with a year-on-year increase of 24.61% and 33.83% respectively, and realized an earnings per share of 597 yuan.
In 2021, in the face of the negative impact of the epidemic and the uncertainty of the external environment, Shandong Hi-Speed Company Limited(600350) adhered to the annual tasks and objectives, coordinated the epidemic prevention and control and production and operation, overcome difficulties and stabilized the three sectors. The upstream and downstream investment of the company’s expressway industrial chain gradually made a contribution to the company’s profits. During the reporting period, the company realized highway toll revenue of 9.776 billion yuan, railway transportation revenue of 2.109 billion yuan, commodity sales revenue of 1.944 billion yuan and investment income of 975 million yuan.
road and bridge main business continues to improve and presents a new atmosphere for operation
In 2021, the operation level of the company’s roads and bridges was steadily improved, and the toll revenue (including tax) was 10.032 billion yuan, and the average daily toll revenue (including tax) was 274838 million yuan. Among them, the average daily toll revenue of the company’s core road production Jiqing expressway was 100410 million yuan, and the average daily toll revenue of relevant sections of Beijing Taiwan expressway was 3.2751 million yuan, which is still the main source of the company’s toll revenue.
During the reporting period, the company’s road and bridge operation presented three new phenomena. First, the “road leader system” has been fully launched, and a three-level linkage grid management system has been constructed, which has been recognized by industry experts; Issued and implemented two standards, “96659 hotline” was recognized as a well-known brand in Shandong, showing the hard strength of road and bridge operation. Second, promote the research on the first 27 topics of “all-weather access”, innovate the “access code” system, speed limit instead of road closure and other accurate control measures, and the number and time of traffic control of various units in the province have decreased significantly; Remarkable results have been achieved in the special congestion control of toll stations, and the traffic efficiency has been significantly improved during peak hours. Third, promote the upgrading of maintenance work and carry out the research and demonstration of green and low-carbon maintenance technology. The recovery rate of pavement materials is 100% and the recycling rate is more than 95%; The implementation of artificial intelligence assisted patrol inspection, the popularization rate of maintenance scientific decision-making and application is more than 80%, and the key bridges and tunnels realize all-weather health monitoring; A group logo was promoted and released at the world transportation conference to polish the company’s maintenance and operation brand.
investment and operation achieved a new breakthrough, and the industry’s first “a-controlled H” landing
During the reporting period, the company made new breakthroughs in investment and operation, realizing an investment income of 975 million yuan. Specifically, in terms of main business investment, the company completed the acquisition of 38.93% controlling stake in Qilu expressway, realized the first “a-controlled H” landing in the industry, and the total operating mileage of the company exceeded 2800 kilometers; In terms of industrial expansion, Yikang technology M & A was completed, which increased revenue by 233 million yuan that year, and breakthrough achievements were made in the 14th five year plan strategy; In terms of financial investment, the income was 375 million yuan; In terms of the withdrawal of non main businesses, Jitai mining realized the withdrawal of 40% equity and 30% equity of environmental protection industry; In terms of asset management, 840 mu of land and 4790 square meters of real estate were revitalized through cooperative formats such as commercial office, logistics and warehousing, with an additional income of 4.98 million yuan; Activate 409 advertising media and sign a contract of 52.69 million yuan.
It is worth noting that in 2021, Qilu Expressway achieved a revenue of 1.995 billion yuan, an increase of 18.10% over 1.690 billion yuan in 2020, of which the revenue from expressway business was 1.773 billion yuan, a year-on-year increase of 15.05%; The profit was 853 million yuan, with a year-on-year increase of 37.48%, mainly due to the toll free impact during the prevention and control of covid-19 pneumonia epidemic in 2020. With the effective control of the epidemic, the toll income returned to normal in 2021, which was higher than that in 2020.
project construction has achieved remarkable results, and the quality and efficiency of railway transportation have been steadily improved
In the construction of major projects, Shandong Hi-Speed Company Limited(600350) two core road reconstruction and expansion projects show new speed. The Beijing Taiwan Deqi project was opened to traffic 18 months in advance. It is the first key project opened to traffic during the 14th Five Year Plan period of the province, and won the provincial “worker pioneer” and the national “top ten projects” award for news publicity of major highway projects; The Beijing Taiwan Jitai project resumed two-way traffic six months in advance, completed the left acceptance of the main project, created good economic and social benefits, and was successfully selected into the first batch of “safe century quality project” demonstration projects of the Ministry of communications.
In terms of rail transit, the operating revenue was 4.338 billion yuan and the net profit attributable to the parent company was 332 million yuan, a year-on-year increase of 2.21%. During the reporting period, the rail transit group focused on the main responsibility and main business, and the quality and efficiency of railway transportation improved steadily. The railway freight sector achieved an operating revenue of 2.109 billion yuan and a total profit of 277 million yuan; The completed transportation volume was 71.32 million tons, a year-on-year increase of 3.9%. In addition, the rail transit group has also strengthened the chain and achieved new results in the development of equipment manufacturing sector. Among them, the revenue of railway construction equipment company in 2021 was 703 million yuan; With a total profit of 126 million yuan, it won the bid for 2.06 million sleepers of Guinea Masi railway, setting a new record for overseas sleeper orders in the same industry in China. The first step was taken from the construction of the joint venture project in Guangxi and the joint venture project in South China to the joint export of sleeper products in the same year.
continue to return investors and create new profit growth points
In 2020, the company disclosed the shareholder return plan for Shandong Hi-Speed Company Limited(600350) next five years (20202024). Under the condition of meeting the conditions of cash dividend, the annual profit distributed in cash by the company in the next five years (20202024) shall not be less than 60% of the net profit attributable to the owners of the parent company in the consolidated statements realized in that year. In 2021, the company’s net profit attributable to the parent company was 3.052 billion yuan. The company plans to distribute a cash dividend of 4.00 yuan (including tax) for every 10 shares to all shareholders, an increase of 0.2 yuan (including tax) over the previous year, with a total distribution of 1.924 billion yuan, with a dividend ratio of about 63.05%, maintaining the stability and continuity of dividends and fulfilling the company’s commitments.
Shandong Hi-Speed Company Limited(600350) said that during the “14th five year plan” period, the company will deepen the development of road and bridge operation and improve the road and bridge operation system with the road length system as the core; Relying on the advantages of the group, continue to expand the main business, improve the layout of industrial chain and value chain around the main business, and create new profit growth points; By continuously promoting the construction of key projects and innovating the engineering construction brand with core competitiveness, the company will help the company become a national first-class transportation infrastructure investment, construction and operation service provider, and bring long-term and stable returns to investors.
