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Public company info - China Machinery Engineering Corporation - H Shares , 01829.HK
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China Machinery Engineering Corporation - H Shares, 01829.HK - Company Profile
Chairman BAI Shaotong
Share Issued (share) 908,000,000
Par Currency Renminbi
Par Value 1.0
Industry Infrastructure
Corporate Profile Business Summary: The Company is a leading international engineering contracting and services provider with a primary focus on EPC projects and particular expertise in the power sector, capable of providing one-stop customized and integrated engineering contracting solutions and services. The Company also conducts the Trading Business and Services Business. Performance for the year: The Company realized revenue of RMB28,295.9 million in 2019, gross profit of RMB4,795.1 million, and profit attributable to shareholders of RMB2,181.2 million. Business Review As the core business of the Company, revenue contribution from the International Engineering Contracting Business accounted for approximately 69.9% of the total revenue of the Company. The Company ranked 9th in the “Top 100 Enterprises in terms of Turnover of China International Contracting Engineering Business in 2019” published by the Ministry of Commerce of the PRC. The Company ranked 9th in the overall ranking and 7th in the overall ranking of power projects in the “2019 Ranking of Major Projects of Large-scale Overseas Building Equipment Projects of Enterprises” issued by China Chamber of Commerce for Import and Export of Machinery and Electrical Products. In addition, it was ranked 1st in terms of contract value of overseas projects of the metallurgical mine equipment industry, 3rd in terms of new energy projects, 4th in terms of power generation projects, 5th in terms of water treatment industry, and 9th in terms of rail transportation industry. In the past year, the Company has made concerted efforts in both traditional markets and emerging markets, and had projects on hand in five continents around the world, as well as continuously cultivating and signing new projects: In the African market, signed Equatorial Guinea Malabo Gas Turbine Power Station Project, Nigeria Proton Combined Cycle Power Station Project and other highway projects in Ivory Coast and Zambia. In the Asian market, the Tajik aluminum plant improvement project was included in the list of achievements of President Xi Jinping’s visit to Tajikistan, and the signing of the Pakistani tripartite agricultural framework cooperation agreement was witnessed by Vice President Wang Qishan. For the Company’s first investmentled EPC project-Pakistan Thar phase I, two power plant units were put into commercial operation, and the coal mine project entered the operation and maintenance stage. Meanwhile, Phase II of the project came into effect and Phase III of the project was going to come into effect. In the European market, the Varna Port Construction Project of Bulgaria was included in the eighth “China-Central and Eastern European Countries Leadership Meeting” results list, and the signing of the business contracts was witnessed by the Premier Li Keqiang. In the South American market, the Argentina Belgrano Cargo Railway Rehabilitation Project, which was signed under the witness of President Xi Jinping, completed 98% of the work volume, and was actively promoting the effectiveness of supplementary projects and the development of new projects. In the Oceania market, CNCEC, a subsidiary of the Company, signed a new villa construction project in Melbourne, Australia. The group is also proud to present the fruitful results in the development of the new energy market achieved by the Company. The biogas power generation project in Dnipro, Ukraine was another major breakthrough for the Company in the field of new energy followed by the wind power, photovoltaic and geothermal power projects. In 2019, the Company continued to facilitate the construction of photovoltaic power stations, signed the Laos Ministry of Defense No. 02 Integrated Agricultural Park photovoltaic power plant project, photovoltaic power plant projects in Lupu Mountain, Ukraine, and the photovoltaic and water plant projects in Colombia. In addition to the power engineering projects where the Company enjoyed advantages traditionally, the Company also actively explored emerging businesses. In the field of coal mine construction, a contract for the construction project of the 3-million-ton coal mine and coal preparation plant in Dubowski, Karaganda, Kazakhstan was signed. In the field of new-type urbanization and infrastructure construction, the contracts for the Bahrain affordable housing, and the Burundi National Police Hospital Project were signed. The Company also continued to put efforts in developing industrialization projects: the foundation of the Boron Carbide project in Bandarma, Turkey was laid and received a congratulatory message from the Turkish President Erdogan. During the Second Belt and Road Forum for International Cooperation, the Company signed the ANH blast furnace ferronickel smelting project in Indonesia. In the past year, the Company continued to make good use of external resources to optimize the EPC project contracting ecosystem, and continued to refine and deepen the industrial alliances with DEC and XD Group, as well as strategic cooperation with international conglomerates such as GE and Siemens. In addition, the Company continued to expand its circle of friends steadily in 2019, and entered into strategic cooperation agreements with Wolseley Group in the U.S., Giga Group in Pakistan, and China YTO and CNCDC. At the same time, in 2019, the Company’s trading services focused on sub-sectors, core businesses and markets, optimized management, improved efficiency and avoided risks, ensuring stable operation. The independent research and development of high-end castings and forgings such as the “Four Wheels and One Track” was steadily advanced. The market development of high-speed rail brake pads and metro brake pads was further deepened. New models such as trading + internet, engineering projects + trade and cross-border e-commerce trade were continuously implemented to generate benefits in developed economies such as the U.S. and Europe. The Company also remained in potential fields in the domestic market, conducting in-depth discussions with local governments on businesses such as healthcare. The design consulting business has increasingly played a supporting role in the Company’s core business, and its expertise in exploring the domestic market has been continuously enhanced. The development, integration and application of engineering technologies such as intelligent factories, sponge cities, informatization across space, sky and ground surfaces and fabricated buildings have enhanced the service capacity and market competitiveness of the whole industrial chain of CMEC, and the market benefits have begun to emerge. In 2019, the Company obtained a total of 93 authorized patents, including 16 invention patents, 68 utility model patents and 9 appearance design patents. A total of 34 software copyrights were registered. Prospects: In 2020, the Company will further reaffirm its position as industry leader, and practically create a leading force in modern equipment manufacturing service industry. The Company will focus on implementing system reform aiming to enhance vitality and core competitiveness, thereby stimulating the exploring capability of micro-entity and business. The Company will also reinforce bottom-line thinking, and promote quality development of the Company. (i) Business development strategy 1. Engineering Contracting Business (1) proper resources allocation between traditional market and emerging market. The Company will advocate deep cultivation in traditional market, carefully manage firsttier businesses, and conduct research on operating strategies and key development areas based on the “One Country, One Policy” principle. In respect of emerging market, the Company will track progress of projects on selective basis, and closely monitor policy changes in order to understand the directions of industry support. (2) Create and develop projects by closely monitoring market demands. The Company will continue to keep its eyes on key new energy projects, new-type urbanization projects and agriculture projects. Through proactive adoption of construction-operation integration and investment-constructionoperation integration, the industry chain and value chain of engineering contracting business will be extended. (3) Continue to deepen the layout in markets along the “Belt and road”. Adhering to established principles, the Company will continue deepen the market expansion for regionalization construction, introduce more resources and technology investment, and strengthen project development in markets along “the Belt and Road”. (4) focus on improving contract signing quality and contract conversion rate. It is essential for the Company to capture influential projects within the region or industry, projects that can generate impressive cash flows and economic benefits, as well as projects with sustainable commercial mode. Moreover, the Company will put more resources in countries with good economy prospects. (5) focus on enhancing professionalism. Based on the direction towards professionalism, the Company will guide and promote the building up of professional job assignment and capability in business division. (6) facilitate the establishment of open regional platform. Based on the actual needs for business development, the Company will proactively facilitate the construction of regional centers and the establishment of new regional centers under united planning and coordination. 2. Trading Business (1) The Company is willing to conduct transformation and upgrade, and actively adapt to overseas business development. The Company will put greater efforts in department construction, as well as enhance its capability in strategy implementation, risk control and management, and the ability to offer guidance, service and support to businesses. (2) The Company will put greater efforts in resources management and reorganization of certain subsidiaries, improve rectification mechanism, explore emerging businesses, and offer precise support for promising entities and teams. (3) The Company will continue to strengthen its unique competitive edges in overseas trading, and further improve key products and feature products. (4) The Company will enhance innovation, seize political signals, strive to seize political opportunities, and actively explore and promote biomass power generation, healthcare and other business opportunities. 3. service Business (1) Enhance support to main businesses. The China Machinery R&D and JiKan Research Institute will maintain the leading positions in their respective leading areas, put greater efforts in making design consultation and technology standards “going out”, and enhance the Company’s capability in integrating and controlling domestic and international standards. (2) Strengthen the interaction between domestic and overseas markets. For domestic market, business expansion shall focus on quality development instead of low-level expansion. It is essential to have accurate connection with major operations, and proactively adapt to the “going out and bringing in” policy for major operations. The Company will focus on increasing market supply, instead of inventory consumption or reallocation of existing businesses. (3) Facilitate the launch of technology development and planning. The Company will implement the strategies decided at the technology conference, facilitate the launch of technology development and planning, as well as prepare for the connection plans for different business segments. (4) Guide the market development for technology. Aiming for gaining market benefits, the Company will further promote the practical cultivation of specific technologies and the conversion of scientific and technological achievements. (ii) Corporate Management strategy In respect of management, the Company will focus on the comprehensive deepening of reforms, so as to enhance management efficiency and improve procedure management. The Company will also focus on enhancing efficiency, and establishing comprehensive, dimensional centralized management system and operating system. The Company will continue to strengthen and improve management mechanism and system with its characteristics; continue to rectify bureaucratic culture in headquarters; enhance cost and expense control; greatly promote internal coordination; further improve risk control system; ensure safety production; enhance the standard and ability in human resources guarantee; focus on long-term development and prepare for the “14th 5-Year Plan”; and properly perform other fundamental management.

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