On September 1, China Railway Construction (601186. SH) held the 2022 semi annual performance presentation meeting. Wang Jianping, Secretary of the Party committee and chairman of the company, Zhuang Shangbiao, President, executive director and Deputy Secretary of the Party committee, Wang Xiuming, member of the Standing Committee of the Party committee and chief accountant, and Jing Jing, Secretary of the board of directors attended the meeting< IMG ALT = "China Railway Construction visual information map of China" style = "width: 600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/213/830/475.jpg ">
China Railway Construction vision data map < / P > in the first half of the year, China Railway Construction realized an operating income of 540.5 billion yuan, a year-on-year increase of 10.64%; a net profit of 15.9 billion yuan, a year-on-year increase of 12.8%, of which the net profit attributable to shareholders of listed companies was 13.5 billion yuan, a year-on-year increase of 9.48%. Among them, the real estate development business income was 21.183 billion yuan, a year-on-year increase of 79.75%; the gross profit was 3.46 billion yuan, a year-on-year decrease of 1.67 percentage points. < br > < div class =" contheight "> < / div > in the first half of the year, China Railway Construction Corporation signed 1.33 trillion yuan of new contracts, completing 46.29% of the annual plan, a year-on-year increase of 26.24%. Among them, the new contract value of real estate development was 37.994 billion yuan, a year-on-year decrease of 44.67%. The announcement said that the main reason for the year-on-year decrease in the new contract value of real estate development business was that the group slowed down the pace of listing and sales of project products in order to prevent and control risks due to the frequent outbreaks of the epidemic and the downturn of the market. < br > < div Cl Ass = "contheight" > < / div > in terms of cash flow from operating activities, in the first half of this year, China Railway Construction’s net cash flow from operating activities was 19.6 billion yuan, a year-on-year outflow of 36.6 billion yuan. In the second quarter, it realized a net inflow of 21.5 billion yuan, the best level in the same period in recent years; The net cash outflow from investment activities was 38.4 billion yuan, an increase of 9.9 billion yuan over the previous year; The net cash inflow from financing activities was 84.2 billion yuan, an increase of 46.5 billion yuan over the previous year< Br > < div class = "height" > < / div > as of June 30, the company’s total assets were 1.49 trillion yuan, an increase of 141.2 billion yuan over the end of 2021; The net assets attributable to shareholders of listed companies were 280.9 billion yuan, an increase of 12.1 billion yuan over the end of 2021; The asset liability ratio was 75.63%< Br > < div class = "height" > < / div > at the meeting, Zhuang Shangbiao said that the company’s future real estate business will continue to layout real estate projects in the first and second tier cities with better economic development. In the medium and long term, there is still a stable market and demand space for real estate. The market still has structural potential, which has a strong pulling effect on the company’s infrastructure business and can achieve good coordination between real estate and project contracting business< Br > < div class = "contheight" > < / div > the report shows that in the first half of the year, the company accrued a credit loss of 1.074 billion yuan for financial assets such as accounts receivable and contract assets of a real estate industry customer, and accumulated a credit loss of 5.821 billion yuan< Br > < div class = "contheight" > < / div > Zhuang Shang nominally said that the company’s real estate project customer accounts receivable had an impairment of about 1 billion yuan in the first half of the year. The company will comprehensively study and judge the accrual proportion in the second half of the year in combination with the fund recovery situation and the industry development trend< Br > < div class = "height" > < / div > China Railway Construction explained in the report that due to strict national financial supervision becoming the norm and the increasingly complex capital market environment, individual industries, large state-owned enterprises and private enterprises have defaulted on their debts, and the group’s accounts receivable and other financial assets of related customers have become financial assets with credit impairment. These financial assets are formed by the company’s subsidiaries and different customers signing and performing contracts respectively. The group reasonably estimates the recoverable cash flow and recovery time in the future according to the different financial conditions, liquidity conditions, collateral and other information of such customers. The group calculates the expected loss rate according to different economic scenarios, scenario weights and loss rates under different economic scenarios that may occur in the future. After discounting, the Group determines the present value of future cash flows of these financial assets, and then determines credit losses< Br > < div class = "height" > < / div > on the real estate business, Wang Jianping introduced at the performance meeting that in the first half of the year, the company solidly promoted the three-year action of reform and basically completed all main tasks. In accordance with the idea of intensive development and professional operation, the positioning of North China investment and South China company was adjusted, the number of main real estate business units was reduced, and the efficiency of enterprise resource allocation was further improved.