CHINA STATE CONSTRUCTION ENGRG. CORP.LTD
Company code: China State Construction Engineering Corporation Limited(601668) company abbreviation: China State Construction Engineering Corporation Limited(601668) China State Construction Engineering Corporation Limited(601668)
Annual report for 2021
April 15, 2022
Address
Dear shareholders and investors
On behalf of the board of directors of the company, I would like to present the annual report of China State Construction Engineering Corporation Limited(601668) 2021 to you and express my heartfelt thanks to all stakeholders who have long cared about and supported the reform and development of the company! In 2021, we will calmly respond to the complex and severe external situations and challenges, join hands with owners, customers and participants in the industrial chain, fully, accurately and comprehensively implement the new development concept, focus on the strategic goal of "one innovation and five strengths", solidly promote the "six special actions", constantly explore the road of China's construction in the new era, and forge ahead in the great cause of building a better life for the people.
We unswervingly "build" and create value, and persevere to create excellent returns for the majority of shareholders. The newly signed contract amount of the company in the whole year was 3.53 trillion yuan, a year-on-year increase of 10.3%, refreshing the order record of the global construction industry; The operating revenue reached 1.89 trillion yuan, a year-on-year increase of 17.1%, creating the best record in history; The net profit attributable to shareholders of listed companies was 51.4 billion yuan, a year-on-year increase of 14.4%; The basic earnings per share was 1.25 yuan, a year-on-year increase of 16.8%; The operating cash flow continued to maintain positive inflow, and the asset liability ratio continued to decline; The company's cash dividend exceeded 10 billion yuan for the first time, and the proportion of cash dividend increased for three consecutive years; The return on net assets and the turnover rate of total assets continued to improve, reaching a new high in recent three years. Thanks to its strong value creation ability, the company ranks 13th among the "Fortune Global 500" and continues to maintain the world's highest credit rating in the industry.
We will unswervingly "build" a solid responsibility and fulfill the mission of the times to serve the overall interests of the country. The company continued to carry forward the "fire and thunder spirit", scientifically coordinated the normalization of epidemic prevention and control of tens of thousands of projects under construction at home and abroad, built more than 100 emergency hospitals with high efficiency and quality, and fully supported the anti epidemic work in key areas such as Hong Kong. We have successfully completed major projects such as the construction of the "great journey" performance stage and the construction of the central gift and cultural relics management center, and built 28 Winter Olympic projects with high quality to show our lean construction ability. Deeply integrate into the major national strategies and regional coordinated development strategies, and complete the investment of 384.4 billion yuan and the newly signed contract amount of 3.03 trillion yuan in strategic areas such as Beijing Tianjin Hebei, the Yangtze River Delta and the Great Bay area of Guangdong, Hong Kong and Macao. We must deeply participate one in the construction of one belt, one road and one belt, and continue to promote the implementation of high standard, sustainable and livelihood projects, and continue to maintain steady development of overseas business.
We will unswervingly "build" a strong driving force and accelerate the reform task of promoting institutional and mechanism innovation. We will continue to deepen reform, improve the modern enterprise system with Chinese characteristics, and further improve the efficiency of corporate governance. The tenure system and contractual management of subsidiary enterprises were fully implemented, and 64 subsidiary enterprises implemented the professional manager system, which greatly stimulated the reform and development vitality of subsidiary enterprises at all levels. Explore and implement various forms of medium and long-term incentives to mobilize the enthusiasm of employees and officers to start businesses to a greater extent. The company has obtained A-level business performance assessment of the person in charge of central enterprises for 16 times. It is the only representative of the construction industry among the constituent stocks of SSE 50 and FTSE China A50 Index.
We unswervingly "build" the future and actively lead the transformation of scientific and technological innovation enabling industry. The company went all out to overcome the "neck" technology and continuously enhance the "created in China" ability in the construction field. The annual scientific research fund was 39.9 billion yuan, and the investment intensity exceeded 2% for the first time. Realize the world's first large-scale engineering application of carbon fiber 1000 ton cable anchor system, successfully develop the underlying graphics platform technology of engineering construction software, and release its own software brand. Promote green and low-carbon transformation in the construction field and accelerate the promotion and application of 5g smart construction sites. During the reporting period, the company won 5 national science and technology progress awards, including 2 first prizes; It has won 15 Zhan Tianyou awards and 35 Luban awards, and the number and quality of awards have reached a new record. We will unswervingly "build" a beautiful society and practice the social responsibility of central enterprises with high standards. The company gives full play to the advantages of the whole industrial chain, vigorously participates in the construction of projects in the fields of urban renewal, shantytowns transformation, urban infrastructure and ecological environmental protection, makes every effort to ensure the needs of people's livelihood, and continuously improves the people's sense of gain, security and happiness. Bravely assume the responsibility of "chain leader" of the industrial chain and drive upstream and downstream enterprises to overcome difficulties and develop together. More than 2.4 million social jobs were created, including 32000 new college graduates, making an important contribution to stabilizing employment. We will promote the areas assisted to consolidate and expand the achievements in poverty alleviation, and help revitalize rural industries in an all-round way.
In the coming period, opportunities and challenges will still coexist China State Construction Engineering Corporation Limited(601668) will be committed to high-quality development, deepen reform and innovation, give further play to the strategic advantages of the company on a large scale, adhere to the principle of "making progress while maintaining stability", adhere to "drawing a blueprint to the end", adhere to safe operation, adhere to leading comprehensive innovation with scientific and technological innovation, focus on developing emerging businesses in key areas, and promote the optimization and upgrading of business structure. Throughout the year, strive to achieve a new contract amount of more than 3.85 trillion yuan and an operating income of more than 2.01 trillion yuan, so as to improve stability, continue to maintain a high and stable operation, and live up to the love and support of the majority of shareholders and all sectors of society! Chairman: Zheng xuexuan April 15, 2022
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、 This report was deliberated and adopted at the 15th meeting of the third board of directors of the company, and all directors of the company attended the meeting of the board of directors. 3、 Ernst & Young Huaming Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 4、 Zheng xuexuan, the person in charge of the company (Chairman), Wang Yunlin, the person in charge of accounting (chief financial officer), and Xie song, the person in charge of the accounting organization (chief accounting officer), declare that they guarantee the authenticity, accuracy and integrity of the financial report in the annual report. 5、 The profit distribution plan and the plan for converting capital reserve into share capital in the reporting period reviewed by the board of directors
Based on 41940858844 shares of the company as of the disclosure date, a cash dividend of RMB 2.50 (including tax) is distributed to all ordinary shareholders for every 10 shares. The ratio of the annual cash dividend amount of the company to the net profit attributable to shareholders of the listed company is 20.40%.
If the total share capital of the company changes before the date of equity distribution and equity registration, the company plans to maintain the distribution proportion per share unchanged, adjust the total distribution accordingly, and announce the specific adjustment separately. The above profit distribution plan has been deliberated and approved at the 15th meeting of the third board of directors of the company, and shall be implemented after being deliberated and approved by the 2021 annual general meeting of shareholders of the company. 6、 Risk statement of forward-looking statements
√ applicable □ not applicable
There are some predictive statements based on subjective assumptions and judgments about future policies and economic trends in this report. Affected by many variable factors, the actual results or trends 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 them. 7、 Is there any non operating occupation of funds by the controlling shareholders and their related parties
VIII. Whether there is any external guarantee in violation of the specified decision-making procedures
IX. whether more than half of the directors cannot guarantee the authenticity, accuracy and completeness of the annual report disclosed by the company
X. major risk warning
During the reporting period, the company had no major risk events.
The company has described the possible risks in detail in this report. Please refer to the relevant contents of "discussion and Analysis on the future development of the company" in Section III "management discussion and analysis" of this report. 11、 Other
√ applicable □ not applicable
In addition to the audited financial data, the business data used in this report comes from the management caliber of the company.
catalogue
Section 1 interpretation eight
Section II Company Profile and main financial indicators nine
1、 Company information nine
2、 Contact person and contact information nine
3、 Basic information nine
4、 Information disclosure and preparation place nine
5、 Company stock profile nine
6、 Other relevant information nine
7、 Main accounting data and financial indicators in recent three years ten
8、 Differences in accounting data under domestic and foreign accounting standards eleven
9、 Main financial data by quarter in 2021 eleven
10、 Non recurring profit and loss items and amounts twelve
11、 Items measured at fair value thirteen
12、 Others thirteen
Section III Management Discussion and Analysis fourteen
1、 The main business and business model of the company during the reporting period fourteen
2、 Analysis of core competitiveness during the reporting period sixteen
3、 Brand, credit and honor during the reporting period nineteen
4、 Business discussion and Analysis twenty
5、 Main business conditions during the reporting period twenty-five
6、 Discussion and Analysis on the future development of the company 49 VII. The company is not applicable to the provisions of the code or for special reasons such as state secrets and trade secrets,
Reasons for non disclosure and non disclosure in accordance with the standards fifty-four
Section IV corporate governance fifty-five
1、 Description of corporate governance 55 II. The controlling shareholders and actual controllers of the company guarantee the assets, personnel, finance, institutions
Specific measures for independence in business and other aspects, as well as solutions that affect the independence of the company
Work progress and follow-up work plan fifty-seven
3、 Brief introduction to the general meeting of shareholders fifty-seven
4、 Directors, supervisors and senior managers sixty
5、 Relevant information of the board of directors held during the reporting period sixty-eight
6、 Directors' performance of duties sixty-eight
7、 Special committees under the board of Directors seventy
8、 Description of risks found by the board of supervisors seventy-four
9、 Employees of the parent company and major subsidiaries at the end of the reporting period seventy-six
10、 Profit distribution or capital reserve conversion plan seventy-seven
11、 The situation and impact of the company's equity incentive plan, employee stock ownership plan or other employee incentive measures seventy-nine
12、 The evaluation mechanism for senior managers and the establishment and implementation of incentive mechanism during the reporting period eighty-four
13、 Management and control of subsidiaries during the reporting period eighty-four
14、 Description of internal control audit report eighty-four
15、 Self inspection and rectification of problems in the special action for governance of listed companies eighty-five
16、 Others eighty-five
Section V environmental and social responsibility eighty-six
1、 Environmental information eighty-six
2、 Social responsibility work eighty-nine
3、 Consolidate and expand the achievements in poverty alleviation and Rural Revitalization ninety
Section VI important matters ninety-two
1、 Performance of commitments ninety-two
2、 Non operating occupation of funds by controlling shareholders and other related parties during the reporting period ninety-three
3、 Illegal guarantee ninety-three
4、 The company's explanation to the "non-standard opinion audit report" of the accounting firm ninety-three
5、 The company's analysis and explanation of the causes and effects of changes in accounting policies and accounting estimates or correction of major accounting errors ninety-three
6、 Appointment and dismissal of accounting firms ninety-four
7、 Situation facing delisting risk ninety-five
8、 Matters related to bankruptcy reorganization ninety-five
9、 Major litigation and arbitration matters X. listed companies and their directors, supervisors, senior managers, controlling shareholders, actual controllers
Punishment and rectification of the purchaser ninety-six
11、 Description of the integrity of the company, its controlling shareholders and actual controllers during the reporting period ninety-six
12、 Significant related party transactions ninety-six
13、 Major contracts and their performance one hundred and one
14、 Description of other major matters that have a significant impact on investors' value judgment and investment decision-making one hundred and thirteen
15、 Information disclosure index one hundred and thirteen
Section VII changes in shares and shareholders one hundred and eighteen
1、 Changes in share capital one hundred and eighteen
2、 Securities issuance and listing one hundred and twenty
3、 Shareholders and actual controllers
