On the evening of March 29, Chengdu Road & Bridge Engineering Co.Ltd(002628) handed over the report card of 2021. Under the triple pressure of shrinking demand, supply shock and weakening expectation in the macro economy, the company focused on the main business, optimized the track, orderly promoted industrial innovation, and continuously promoted the high-quality development of the company in depth.
Closely follow the national and industrial policy guidance, and continuously improve the management efficiency, quality and overall operation level Chengdu Road & Bridge Engineering Co.Ltd(002628) while refining the main business and optimizing the projects, it closely follows the national strategic opportunity layout, actively explores rural revitalization, prefabricated construction and other fields, vigorously expands the markets of Xinjiang and Tibet, and lays a solid foundation for seeking innovative breakthroughs in the new track, accumulating and promoting sustainable development.
deducted non net profit increased significantly year on year
Behind the performance growth, it comes down in a continuous line with Chengdu Road & Bridge Engineering Co.Ltd(002628) continuous intensive cultivation of the main business, continuous project expansion and continuous enhancement of project acquisition and operation ability.
In 2021, Chengdu Road & Bridge Engineering Co.Ltd(002628) period achieved revenue of 1.79 billion yuan. The net profit attributable to the shareholders of the listed company was 79.02 million yuan, a slight decrease of 3.27% compared with the same period of the previous year, while the net profit deducted from the main business of the company was 105 million yuan, a year-on-year increase of 33.49%. At the same time, the net cash flow generated by the company’s operating activities has also significantly improved compared with 2020.
As the main source of Chengdu Road & Bridge Engineering Co.Ltd(002628) revenue, the company’s highway and municipal engineering construction revenue was 1.73 billion yuan, accounting for 96.69% of revenue. From the perspective of gross profit margin index, the gross profit margin of the company’s engineering construction increased by 2.94 percentage points compared with the same period in 2020.
The year-on-year growth of net profit excluding non net profit in 2021 reflects the benign growth of Chengdu Road & Bridge Engineering Co.Ltd(002628) main business, and the increase of gross profit margin is a concrete embodiment of improving quality and efficiency. This growth reflects the improvement of the company’s industrial toughness and the beneficial practice of focusing on the development of main business and promoting the optimization of management efficiency.
So far, Chengdu Road & Bridge Engineering Co.Ltd(002628) has been engaged in highway engineering construction for more than 30 years, accumulated rich experience in highway engineering construction, carried out engineering construction in strict accordance with relevant systems, created a large number of high-quality projects, and won the honors of “national demonstration enterprise of quality and service integrity” selected by China Quality Inspection Association.
For a long time, Chengdu Road & Bridge Engineering Co.Ltd(002628) adheres to the goal of increasing output value and optimizing profits, focuses on key areas, especially the implementation of projects in Sichuan, Henan and other places, realizes the overall communication between stock business and incremental business, and maintains the expansion intensity and cooperation intensity of deep cultivation market.
The substantial increase in the bid winning amount in 2021 is a powerful example. In 2021, Chengdu Road & Bridge Engineering Co.Ltd(002628) won the bid for the project of 2.603 billion yuan, a significant increase of 84.61% year-on-year, providing a continuous endogenous driving force for the long-term sustainable development of the company. Major projects under construction, such as Mianjiu Expressway and Dazhong Xuanhua expressway, have also been promoted in an orderly manner.
While doing a good job in internal skills, the external environment Chengdu Road & Bridge Engineering Co.Ltd(002628) faced by Chengdu Road & Bridge Engineering Co.Ltd(002628) also occupies the favorable time and place.
On December 22, 2021, according to the multi-level rail transit planning of Chengdu Chongqing double City Economic Circle issued by the national development and Reform Commission, the Chengdu Chongqing double city economic circle on track will be preliminarily completed by 2025. At the end of 2021, Sichuan Province and Chongqing proposed to jointly build the Chengdu Chongqing twin city economic circle. In 2022, 46 key tasks in 10 aspects and 160 major projects are planned to be promoted, with a total investment of about 2 trillion yuan.
As a key area of infrastructure construction in the west, Sichuan aims to build a comprehensive transportation hub in the West and a demonstration city of modern comprehensive transportation hub in Chengdu. According to the transportation integration plan of Chengdu Chongqing double city economic circle, Sichuan and Chongqing provinces and cities will build an efficient and interconnected highway transportation network.
Chengdu Road & Bridge Engineering Co.Ltd(002628) ‘s main business is concentrated in the vast western region centered on Sichuan Province. The company has a good reputation in the transportation infrastructure construction market in Chengdu, Sichuan Province and even the western region. With the further promotion of the double city economic circle in Chengdu and Chongqing, the infrastructure demand will provide new development opportunities for companies in the industrial chain.
seeking breakthrough in diversified industries
As a veteran in the field of traditional infrastructure construction, Chengdu Road & Bridge Engineering Co.Ltd(002628) is seeking new breakthroughs in the industrial chain.
Nowadays, Chengdu Road & Bridge Engineering Co.Ltd(002628) is closely following the national strategic opportunity, actively exploring rural revitalization, prefabricated construction and other fields, and promoting the new practice of Industrial Education in Xinjiang, Tibet and other places.
This practice stems from the deep accumulation of Chengdu Road & Bridge Engineering Co.Ltd(002628) in the field of infrastructure construction. Because rural revitalization and prefabricated construction are still in the same line with the field of infrastructure, and the realization of diversified industries can not only improve the multi-channel profitability of the company’s business, but also provide strong support for the effective coordination and benign interaction of the company’s main business.
Earlier, for prefabricated buildings, the State Council proposed in the “several opinions on Further Strengthening the management of urban planning and construction” that we should develop new construction methods and strive to make prefabricated buildings account for 30% of new buildings in about 10 years. Since then, the policies on prefabricated buildings have been issued one after another, which has laid a solid macro foundation for the development of prefabricated buildings in China.
At the end of 2021, Chengdu Road & Bridge Engineering Co.Ltd(002628) signed a strategic cooperation agreement with the alar municipal government of the first division of Xinjiang production and Construction Corps to invest in the construction of Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) projects such as prefabricated buildings and green low-carbon environmental protection building materials in Alar City Chengdu Road & Bridge Engineering Co.Ltd(002628) also aims at the overall planning and construction of alar new area, comprehensively deepening the cooperation in infrastructure fields such as transportation, municipal administration and water conservancy. At the same time, the company actively cooperates with the implementation of the local Rural Revitalization Strategy and the goal of industry carbon peak and carbon neutralization, expands the whole industrial chain and extends upstream and downstream around the original advantageous business, and actively cultivates Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) and new projects.
In fact, based on the main business and stabilizing the basic sector of traditional projects, Chengdu Road & Bridge Engineering Co.Ltd(002628) is making full use of the platform advantages of listed companies and the mechanism advantages of private enterprises to actively explore the development path of combining the advantages of industries and companies such as rural revitalization, prefabricated construction and regional planning and construction.
Resonate with the national strategic opportunity at the same frequency, Chengdu Road & Bridge Engineering Co.Ltd(002628) is driven by internal and external two wheels, and seeks the way to win the evergreen industry. In the future, based on its own advantages and endowments, the company will continue to innovate and change in the new track, and seek continuous value growth and butterfly change. Text / Jin Yifeng
