Editor's note: The "Several Opinions of the State Council on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" pointed out that the supervision of cash dividends of listed companies should be strengthened. For companies that have not paid dividends for many years or have a low proportion of dividends, major shareholders are restricted from reducing their holdings and risk warnings are implemented.
According to the public information of Bread Finance, from 2021 to 2023, Beixin Road and Bridge will achieve a cumulative net profit of about 192 million yuan, and the dividend amount will be 0 yuan. Further research found that the company has not paid cash dividends for 7 consecutive years.
Since its listing, Beixin Road & Bridge has completed multiple rounds of equity financing, raising a total of more than 2.5 billion yuan. In comparison, the cumulative dividend amount since the company's listing is less than 70 million yuan.
Beixin Road & Bridge: Undistributed profit exceeded 700 million, with zero dividends in the past 3 years
Beixin Road & Bridge recently announced that the profit distribution plan for 2023 is: it is planned not to distribute profits, nor to convert capital reserve into share capital. Undistributed profits are carried forward to the next year.
According to the public information of Bread Finance, from 2021 to 2023, Beixin Road and Bridge will achieve a cumulative net profit of about 192 million yuan. During the period, Beixin Road and Bridge did not pay cash dividends, and there were zero dividends for 3 years. Beixin Road and Bridge has been listed for 15 years, and the cumulative cash dividend has not exceeded 70 million yuan.
As of the end of 2023, the amount of undistributed profits reported by the parent company of Beixin Road and Bridge reached 789 million yuan.
Since its listing, equity financing has exceeded 2.5 billion
Beixin Road & Bridge was listed on the A-share market in 2009. According to incomplete statistics, since its listing, the total amount of equity financing of Beixin Road and Bridge has exceeded 2.5 billion yuan, including 408 million yuan in the initial offering, as well as multiple private placements and convertible bond financing.
In February 2024, Beixin Road and Bridge updated the fixed increase plan, and the company plans to raise no more than 1.65 billion yuan for the Suzhou-Guzhen Expressway project and replenish working capital. Recently, the company applied to the Shenzhen Stock Exchange for the suspension of the review of the private placement, and the time limit for the application to suspend the application was not more than 3 months.
In 2023, revenue and profit will both decline
Beixin Road & Bridge is one of the largest road and bridge construction enterprises in Xinjiang, mainly engaged in the construction of high-grade road projects, bridge projects and water conservancy projects.
In 2023, Beixin Road & Bridge will achieve revenue of 8.487 billion yuan, down 27.2% from the same period of last year, and net profit attributable to the parent company of 32.2271 million yuan, down 30.42% from the same period of last year. In 2023, the company will achieve engineering revenue of 7.514 billion yuan, a year-on-year decrease of 18.42%, accounting for 88.54% of operating income.
(Article Serial Number: 1783044922165825536)
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