Sichuan Road and Bridge

Sichuan Road and Bridge Construction Co., Ltd

synonym

Sichuan Road and bridge generally refers to Sichuan Road and Bridge Construction Co., Ltd

Sichuan Road and Bridge Construction Co., Ltd. was established by Sichuan Road and Bridge Construction Group Co., Ltd. as the sponsor. The current controlling shareholder is Sichuan Railway Industry Investment Group Co., Ltd. and the actual controller is the state owned assets supervision and Administration Commission of Sichuan Provincial People's government. By the end of 2008, Sichuan Road and Bridge Construction Group Co., Ltd. In 2008, the company achieved business income of 2.191 billion yuan, net profit of 30.16 million yuan and total assets of 5.22 billion yuan. In 2008, 19 new projects were awarded with the winning amount of 1.989 billion yuan. The total revenue of road and Bridge toll and power sales was 127 million yuan. In 2008, the total investment of hydropower and road and Bridge toll projects was 538 million yuan.

Company profile

In 2008, the company achieved business income of 2.191 billion yuan, net profit of 30.16 million yuan and total assets of 5.22 billion yuan. In 2008, 19 new projects were awarded with the winning amount of 1.989 billion yuan. The total revenue of road and Bridge toll and power sales was 127 million yuan. In 2008, the total investment of hydropower and road and Bridge toll projects was 538 million yuan.

Headquarters

General manager office, human resources department, asset finance department, capital operation Department, securities department, Party Mass Work Department, audit department, supervision department, etc.

Member enterprises

Sichuan Road and Bridge Engineering Co., Ltd., Sichuan balanghe Hydropower Development Co., Ltd., Sichuan Bahe Hydropower Development Co., Ltd., Sichuan South Sichuan transportation investment and Development Co., Ltd., Sichuan Road and Bridge Construction Co., Ltd., mechanization branch, bridge branch, highway No.1 Branch, highway No.2 Branch, etc.

Management team

Sun Yun, chairman of Sichuan Road and Bridge Construction Co., Ltd.

Gan Hong, director and general manager of Sichuan Road and Bridge Construction Co., Ltd.

Director of Sichuan Road and Bridge Construction Co., Ltd.: Bai Mao.

Cao Chuan, director, deputy general manager and Secretary of the board of directors of Sichuan Road and Bridge Construction Co., Ltd.

Director of Sichuan Road and Bridge Construction Co., Ltd.: Ma Qingyun.

Independent directors of Sichuan Road and Bridge Construction Co., Ltd.: Yang Shengfu, fan Wenli, Zhang Qun and Zhao zesong.

Chairman of the board of supervisors of Sichuan Road and Bridge Construction Co., Ltd.: Liu Gang.

Supervisors of Sichuan Road and Bridge Construction Co., Ltd.: Peng Zhiqiang, Zeng Jigang, Huang Honghua, ran Zhenghai.

Deputy general manager of Sichuan Road and Bridge Construction Co., Ltd.: Liu Zhigang.

Deputy general manager of Sichuan Road and Bridge Construction Co., Ltd.: Feng qianglin.

Deputy general manager of Sichuan Road and Bridge Construction Co., Ltd.: Hu Yuanhua.

Guo Xianghui, deputy general manager of Sichuan Road and Bridge Construction Co., Ltd.

Deputy general manager of Sichuan Road and Bridge Construction Co., Ltd.: Liu Deyong.

Chief financial officer of Sichuan Road and Bridge Construction Co., Ltd.: Li Jidong.

Cao Rui, chief engineer of Sichuan Road and Bridge Construction Co., Ltd.

Operation

In the first half of 2010, the company firmly seized the favorable opportunity for the state to continue to invest a lot in infrastructure construction, and steadily promoted the production and operation objectives for 2010 set at the beginning of the year. During the reporting period, the company achieved operating income of 1.924 billion yuan, a year-on-year increase of 54.1%; net profit attributable to shareholders of listed companies was 7.24 million yuan, a year-on-year increase of 29.85%; earnings per share was 0.0238 yuan, a year-on-year increase of 30.05%.

1. During the report period of road and bridge construction business, the company won 9 new projects, 7 in the province and 2 outside the province, with a total bid amount of 3.763 billion yuan, a year-on-year increase of 59.18%; there were 58 projects under construction, including 12 new projects, with a total remaining contract amount of 7.171 billion yuan. During the report period, the accumulated revenue of road and bridge construction industry was 1.815 billion yuan, a year-on-year increase of 45.78%, and the accumulated planned main revenue at the beginning of the year was completed 38% of the total income.

2. Other business in the first half of 2010, the operation of Pingchang Bahe hydropower project was good. In the first half of 2010, it realized 93.4495 million kwh of on grid power and 27.6469 million yuan of power generation income, a year-on-year increase of 14.11%. Balangkou hydropower station of balanghe hydropower project in Ganzi Prefecture was put into operation at the end of 2009. In the first half of 2010, the on grid power was 176262800 kWh and the power generation income was 51.6534 million yuan. The total net profit of the above two projects is about 9.8 million yuan. By the end of the report period, the total investment of balanghe hydropower project is 1.07 billion yuan, accounting for about 82.3% of the total investment of the project. Huashangou hydropower project is under construction and will be put into operation in March 2011.

3. Analysis of main financial data in the reporting period (1) analysis of changes in balance sheet items: the closing balance of accounts receivable increased by 49.48% compared with the opening balance, which was mainly due to the increase in the starting advance payment paid by the owners of new projects and the advance payment for materials paid by the owners of projects under construction.

Other accounts payable at the end of the period increased by 31.58% compared with that at the beginning of the period, mainly due to the increase in the quality deposit of the temporary cooperation team due to the increase in the output value.

Non current liabilities due within one year decreased by 36.05% at the end of the period compared with that at the beginning of the period, with a decrease of RMB 24800000, due to the payment of long-term bank loans due.

② Analysis on the change of items in the income statement: the operating revenue of the current period increased by 54.10% compared with that of the previous period, which was caused by the increase of project tasks and output value of the current period.

Other business income in the current period decreased by 39.34% compared with that in the previous period, which was caused by the decrease of external equipment leasing business due to the increase of engineering tasks of the company.

The operating cost of the current period increased by 55.98% compared with that of the previous period, which was caused by the increase of project tasks, completed output value and corresponding operating cost.

Non operating expenses in the current period decreased by 87.17% compared with that in the previous period, mainly due to no external donation expenses in the current period.

Compared with the previous period, the income tax expense in the current period decreased significantly, mainly due to the increase of deferred income tax assets in the current period offsetting the current income tax expense.

4. Problems and difficulties in operation

(1) The contradiction between the increase of business volume and the relative lack of construction force with the increase of the company's construction projects, plus the company's rescue and disaster relief scattered part of the company's manpower, material resources, financial resources, etc., the company's normal construction project construction period is tight, the construction volume is large, the scope is wide and scattered, which brings certain pressure to the company's management, relevant technical personnel and construction equipment investment.

The company further strengthens the allocation of company resources, increases project inspection efforts, continuously improves the investment in project management, strengthens the safety control in the construction process, constantly sounds the alarm, timely introduces talents in short supply, and increases equipment investment. At the same time, according to the arrangement of the provincial government, the company will actively cooperate with the rescue and disaster relief work to ensure the needs of rescue and disaster relief, and ensure the quality and quantity of the company's various businesses, especially the construction business, to be completed on schedule.

(2) With the fierce competition in the industry and the rising pressure of labor and machinery costs, the construction gross profit margin needs to be further improved.

With the fierce competition in the industry, the profitability of the company's winning projects has not been significantly improved. At the same time, the company's construction cost has been increasing due to the rising labor costs, machinery usage fees and other factors year by year, resulting in a decline in the company's gross profit.

The company should further standardize the cost control system, establish and implement the target responsibility system of project cost management, pay attention to the process control of all aspects of production and operation, fine management, tap potential and reduce consumption, and further improve the construction profit level.

(3) The impact of natural disasters, due to the recent earthquake, debris flow, flood and other natural disasters, has a certain impact on the road, bridge construction and hydropower station construction, which may lead to the delay of project construction period and the company's property losses.

Pay close attention to the release of various possible natural disaster information by relevant departments, do a good job in prevention according to various emergency plans of the company, and strive to minimize the impact of natural disasters on the company. Even so, the torrential rain occurred in Pingchang County of Bazhong in Sichuan Province in the middle of July, which caused the flood disaster. Although the staff of Sichuan Bahe Hydropower Development Co., Ltd., the company's holding subsidiary, made great efforts in rescue and disaster relief, the natural disaster still caused damage to the slope protection, greening, access road, drainage ditch and other ancillary facilities of the company's holding subsidiary's hydropower station, resulting in a certain amount of economic losses Loss. Other engineering construction companies have also caused certain economic losses due to recent floods, debris flows and other geological disasters, and the specific amount has not yet been counted.

Address: Sichuan Road, Hongkou District, Shanghai

Longitude: 121.485754

Latitude: 31.243999

Chinese PinYin : Si Chuan Lu Qiao