NB CONSTRUCTION(601789)2025-04-21 09:40Financial Performance - The company's operating revenue for 2024 was CNY 21,059,817,744.38, a decrease of 7.11% compared to CNY 22,672,675,539.26 in 2023[22]. - The net profit attributable to shareholders for 2024 was CNY 308,336,981.90, down 6.39% from CNY 329,393,575.63 in 2023[23]. - The net cash flow from operating activities significantly decreased by 96.81%, amounting to CNY 36,993,120.47 compared to CNY 1,158,694,847.68 in 2023[23]. - Basic earnings per share for 2024 decreased by 5.38% to CNY 0.2674 compared to CNY 0.2826 in 2023[24]. - The company's total revenue for 2024 was CNY 210.60 billion, a decrease of 7.11% year-on-year[33]. - Net profit attributable to the parent company for 2024 was CNY 3.08 billion, down 6.39% from the previous year[33]. - The weighted average return on equity for 2024 was 6.60%, a decrease of 0.67 percentage points from 2023[24]. Assets and Liabilities - The total assets increased by 12.34% to CNY 32,035,262,076.88 from CNY 28,515,555,266.52 in 2023[23]. - The net assets attributable to shareholders rose by 3.83% to CNY 4,982,349,733.77 compared to CNY 4,798,695,028.74 in 2023[23]. - The company's total liabilities for Ningbo Construction Engineering Group were reported at 995.99 million RMB, resulting in an asset-liability ratio of 79.37%[89]. - The company's total liabilities for Ningbo Municipal Engineering Construction Group were reported at 773.21 million RMB, resulting in an asset-liability ratio of 82.87%[90]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 108,679,859.00 based on the total share capital of 1,086,798,590 shares[6]. - The cash dividend amount represents 35.25% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was 308,336,981.90 RMB for the most recent fiscal year[155]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) reached 326,039,577 RMB, with an average annual net profit of 328,776,815.55 RMB, resulting in a cash dividend ratio of 99.17%[158]. Business Operations and Market Position - The construction business accounted for 58.37% of total business undertaken, amounting to CNY 136.52 billion[34]. - The company’s business undertaking in the Ningbo metropolitan area reached CNY 145.02 billion, representing 62.00% of total business[34]. - The company completed the Xiangshan Bay Expressway project, marking its entry into the highway market and creating a strong foundation for future expansion[35]. - The company established a new concrete mixing station, increasing its total to 7 stations, enhancing customer responsiveness and market influence[35]. - The company acquired a construction company in Chongqing with multiple high-level qualifications, aiming to strengthen its business growth in the Southwest region[35]. Research and Development - The company received 150 new patents in 2024, including 31 invention patents, and now holds a total of 185 invention patents[36]. - Research and development expenses totaled ¥514.50 million, constituting 2.44% of operating revenue, with no capitalized R&D expenditures[61]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing operational efficiency[127]. Legal and Compliance - The company has ongoing litigation against Anshun City Transportation Construction Investment Co., which owes RMB 140,122,596.46 in project payments and RMB 10,595,879.67 in penalties[176]. - The company has filed a lawsuit against Yuyao Shengjian for a total of 128,003,174.40 CNY in project payments and corresponding interest[177]. - The company has initiated arbitration against Shandong Yuncheng Ruiming Energy Technology for 199,662,304.72 CNY in project payments[177]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying the company's funds and assets, with no incidents reported[118]. Corporate Governance - The company has improved its corporate governance structure, ensuring compliance with legal requirements and enhancing internal control systems[117]. - The sixth board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[118]. - The company has a diverse board with members holding various positions in other organizations, indicating strong industry connections and expertise[126]. Strategic Initiatives - The company aims to enhance its competitive capabilities through technology innovation and by undertaking complex projects to improve profitability[106]. - The company plans to strengthen its total contracting business while expanding specialized contracting services to enhance overall competitiveness[107]. - The company is committed to digital transformation and management innovation to improve operational efficiency and project management[107]. - The company is focusing on expanding its market presence through strategic partnerships and potential acquisitions in the coming year[1]. Environmental and Social Responsibility - The company invested 4.2532 million yuan in environmental protection during the reporting period[165]. - The company reduced carbon emissions by 3,301.33 tons through various carbon reduction measures[167]. - Total donations and public welfare project investments amounted to 2.7119 million yuan, benefiting approximately 1,500 people[168]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 1.32 billion RMB[127]. - Future guidance suggests a revenue growth target of 8% for the next fiscal year, driven by new market entries and product launches[1]. - The company plans to deepen regional operations and improve management efficiency, enhancing economic benefits through project management and cost control[110].