振华重工:振华重工2024年年度报告(英文版)

Stock Code: 600320 900947 Stock Name: Zhenhua Heavy Zhenhua B-share
Shanghai Zhenhua Heavy Industries Co., Ltd.
Annual Report 2024
$0/5&/54
Section I Definitions......02

Section II Company Profile and Principal Financial Indexes......03

Section III Management Discussion and Analysis......07

Section IV Corporate Governance......22

SectionV Environmental and Social Responsibility......40

SectionVI Important Events......48

SectionVII Changes in Shares and Shareholders' Situation......61

SectionVIII Preference Shares......67
Section IXBonds......68
Section X Financial Report......71
Financial statements affixed with the signature and seal of legal representative, person in
charge of accounting work and person in charge of accounting agency.
List of Reference Original auditors' report stamped by the accounting firm and signed and stamped with the
Documents certified public accountants.
Original copies of the documents and announcements of the Company published on the
newspaper designated by the CSRC during the reporting period.
* This Report has been prepared in Chinese and translated into English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.

Important Notice
Important Notice
I.TheBoardofDirectors,BoardofSupervisors,directors,supervisorsandseniorexecutivesoftheCompanyherebyguaranteethetruthfulness,accuracyandcompletenessofthecontentscarriedinthisannualreport,guaranteenofalserecord,seriousmisleadingstatementorgreatomissioncarriedinthisannualreportandguaranteetoassumethelegalresponsibilitiesjointlyandseparately.
II.AlldirectorsoftheCompanyarepresentattheboardmeeting.
III.Ernst&YoungHuaMingLLPissuedastandardauditreportwithunqualifiedopinionsfortheCompany.
IV.You Ruikai, chairman of the Company, Li Zhen, person in charge of accounting work, andWang Minfei,
personinchargeofaccountingagency(accountantincharge)herebydeclarethatthefinancialstatementsinthisannualreportareauthentic,accurateandcomplete.
V.Proposalforprofitdistributionorcommonreservescapitalizingduringthereportingperiodreviewedbytheboardofdirectors
As audited by Ernst & Young Hua Ming LLP, the Company achieved a net profit attributable to the owners of the parent
company of approximately RMB 534 million in 2024. As at December 31, 2024, the undistributed profit of the parent company
wasapproximatelyRMB2.901billion.BasedontheCompany’sperformancein2024,aprofitdistributionproposalfor2024hasbeenproposed:profitswillbedistributedbasedonthetotalsharecapitalregisteredontherecorddatefortheimplementationoftheequitydistribution,andacashdividendofRMB0.55(taxincluded)per10shareswouldbedistributedtoallshareholders.AsofDecember31,2024,theCompany’stotalsharecapitalconsistedof5,268,353,501shares.Whencalculatedonthisbasis,the
total cash dividend to be distributed will be RMB 289,759,442.56 (tax included). The Company will not convert capital reserve
into share capital, or grant bonus shares for 2024.The profit distribution proposal has yet to be submitted to the 2024 Annual
GeneralMeetingofShareholdersforconsiderationandapproval.
VI.Riskdeclarationofforward-lookingstatements
√Applicable ȌNotapplicable
The forward-looking descriptions of future plans and development strategies covered in this report do not constitute
substantialcommitmentsbytheCompanytoinvestors,andinvestorsshouldbeawareoftheinvestmentrisks.
VII. Does the Company have non-operating funds occupied by the holding shareholder and its related
parties?
No
VIII. Does the Company provide the external guarantees in breach of the stipulated decision- making
procedure?
No
IX.Whethermorethanhalfofthedirectorscannotguaranteetheauthenticity,accuracyandcompletenessoftheannualreportdisclosedbytheCompany?
No
X.MajorRiskWarning
The company has described the related potential risks in this annual report. Investors may pay attention to the same. Please
refer to “Management Discussion and Analysis” and related chapters for the risks the company may be confronted with in the
futuredevelopment.
XI.Others
ȌApplicable √Notapplicable

Section I Definitions
I. Definitions
The terms used in this report shall be defined as follows, unless otherwise specified:
Definition of common terms
Company, the Company, ZPMC Refers to Shanghai Zhenhua Heavy Industries Co., Ltd.
CCCC Refers to China Communications Construction Company Ltd.
CCCG Refers to China Communications Construction Group Co., Ltd.
CCCG HK Refers to CCCG (HK) Holding Limited
Reporting period Refers to