Yangtze River Business Daily News ● Yangtze River Business Daily reporter Shen Yourong
International enterprise China Industrial International (002051. SZ) has placed another order.
On the evening of May 12, China Industrial International disclosed that the company's subsidiary signed an order with an amount of about 108 million yuan.
In recent years, CAMC has continued to improve. For the full year of 2023, the company signed a total of $3.155 billion in new contracts, and in the first quarter of this year, the total value of new contracts was $691 million.
As of the end of the first quarter of this year, the company's contract liabilities were 3.482 billion yuan.
If you have a large contract in hand and successfully convert it, it will be a real business performance. In the past three years, the operating performance of CAMC has continued to grow. From 2021 to 2023, the company's net profit after deducting non-recurring gains and losses (hereinafter referred to as "non-net profit") increased from 116 million yuan to 441 million yuan, with rapid growth for three consecutive years.
In 2023, the company's sales revenue from domestic and foreign countries will account for 42.93% and 57.07% respectively.
A good financial situation is one of the advantages of CAMCI. As of the end of 2023, the company's asset-liability ratio was 49.87%, better than the industry average.
In the past three years, CAMC has paid cash dividends every year, with an annual dividend rate of more than 40%.
Revenue and net profit increased for three years
The business situation of CAMC continues to improve.
In 2023, CAMC will achieve operating income of 12.365 billion yuan, a year-on-year increase of 27.25%; net profit attributable to shareholders of the parent company (hereinafter referred to as "net profit") was 361 million yuan, a year-on-year increase of 7.77%; deducted non-net profit of 441 million yuan, a year-on-year increase of 48.72%.
In terms of operating performance, from 2006 to 2017, the company's operating income and net profit showed a continuous growth trend. In 2017, the company's operating income was 10.909 billion yuan, exceeding 10 billion yuan, and its net profit was 1.484 billion yuan, a new high. In 2017, the operating income and net profit increased by 871.42% and 1586.36% respectively compared with 2006.
In 2018 and 2019, the company's operating performance was adjusted, with net profit of 1.2 billion yuan and 1.054 billion yuan respectively. In 2020, it may be a special case, or it may be affected by abnormal events, when the company's operating income was 7.966 billion yuan, a year-on-year decrease of 25.25%; The net profit was -84 million yuan, the only annual loss since the listing so far.
In 2021 and 2022, the company's operating income will be 8.640 billion yuan and 9.717 billion yuan respectively, a year-on-year increase of 8.46% and 12.47%; net profit was 282 million yuan and 384 million yuan, a year-on-year increase of 436.93% and 18.26%; The net profit after deduction was 116 million yuan and 296 million yuan, a year-on-year increase of 210.09% and 154.20%.
Judging from the operating performance data of the past three years, CAMC is still in the stage of recovery growth.
The same was true in the first quarter of this year. In the first three months, the company's operating income was 2.363 billion yuan, a year-on-year decrease of 15.27%; The net profit and non-net profit were 117 million yuan and 137 million yuan respectively, a year-on-year increase of 0.67% and 29.97%.
In view of the decline in operating income in the first quarter of this year, China Industrial International explained that the main reason is that some key implementation projects have not reached the milestone settlement node.
Not surprisingly, the future business performance of CAMC is trending. In 2023, the company signed a total of US$3.155 billion in new contracts, of which US$2.309 billion was newly signed for international engineering contracting, and US$1.343 billion in effective contracts. In the first quarter of this year, the company signed new contracts totaling $691 million.
As of the end of the first quarter of this year, the company's contract liabilities were 3.482 billion yuan.
On the evening of May 12, the company disclosed that its wholly-owned subsidiary, Beijing Lifting and Transportation Machinery Design and Research Institute Co., Ltd. (hereinafter referred to as "Beiqi Institute"), signed a fine chemical and raw material engineering project - finished product packaging and warehouse automation three-dimensional warehouse complete equipment procurement project, with a contract amount of about 108 million yuan and a project period of 9 months.
"Going out" pioneer
CAMCE is a pioneer of Chinese enterprises "going global" and an active practitioner of the "Belt and Road" initiative. The company's overseas business continues to expand, and its international influence continues to rise.
After years of development, CAMCE has accumulated rich customer and channel resources, and established a huge global marketing network. By the end of 2023, the company has set up more than 70 overseas branches and more than 40 domestic branches, with business in more than 100 countries and regions around the world. According to the company, it can quickly capture market information and has strong market development expertise and competitive advantages.
The proportion of overseas revenue of CAMC is rising. In 2022, the company's domestic and foreign market revenue will be 4.898 billion yuan and 4.819 billion yuan respectively, accounting for 50.41% and 49.59% of the company's operating income, and the domestic and foreign market revenue is basically the same.
In 2023, the company's revenue from domestic and foreign markets will be 5.308 billion yuan and 7.057 billion yuan respectively, accounting for 42.93% and 57.07% of operating income respectively. In that year, the revenue growth rate of overseas markets reached 46.44%, which was the main force of the company's operating income growth that year.
In its 2023 annual report, CAMCE International said that in that year, overseas, the company won a number of projects in key markets such as the Middle East, Central Asia, and Latin America, and key projects such as the central crude oil and natural gas processing facility in Iraq's nine regions made steady progress; In China, the company focuses on the national regional development strategy, deeply cultivates advantageous fields such as medical and health, modern logistics, clean energy, passenger ropeway, and intelligent warehousing, and continues to move towards high-quality development. The company's market layout has been significantly optimized, and the international and domestic markets have achieved balanced development.
It is worth mentioning that in 2023, CAMCE signed a loan agreement for the Olympic City project in Uzbekistan, becoming China's first RMB sovereign commercial loan project in Uzbekistan, contributing to the internationalization of RMB. In China, the company has successively undertaken projects such as the second phase of the National Supercomputer Shenzhen Center, the Hefei Advanced Computing Center, the "Pengcheng Cloud Brain" network intelligence major scientific and technological infrastructure, and the State Grid Beijing Data Center (Phase II), Xi'an Data Center, Hebei Data Center and other projects, focusing on the development of China's emerging industries.
In 2023, CAMC proposes to innovate and transform again. The company reshaped its business organization, built a value-creating functional management organization, and reformed the three systems as the starting point to build a professional, capable and efficient functional management team and production team.
CAMC's commitment to internationalization also has the advantage of financial security. As of the end of 2023, the company's asset-liability ratio was 49.87%, better than the industry average. At the end of the period, the company's monetary funds were nearly 7 billion yuan, and the corresponding debt was only about 900 million yuan.
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