On June 23, Ge Longhui Construction (600512.SH) announced that in order to implement the “investor-based” development concept of listed companies, safeguard the interests of all shareholders, enhance investor confidence, and promote the long-term health and sustainable development of the company, Tengda Construction Group Co., Ltd. (hereinafter referred to as the “Company”) has drawn up a 2024 “Improving Quality and Efficiency and Valuing Returns” action plan based on industry developments, its own development strategy and business conditions, which was reviewed and approved by the 10th meeting of the 10th board of directors of the company on June 21, 2024. The relevant initiatives are as follows:
1. Focus on strengthening the main business and focus on improving quality and efficiency
In order to comprehensively improve the quality of operations, the company began to carry out enterprise mechanism and system reforms in 2020, gradually shifting from extensive management to refined management, and improving enterprise efficiency by stimulating the internal vitality of the enterprise. Over the past three years, the company has thoroughly implemented the reform concept of “model restructuring, rule reengineering, and process re-engineering”. By changing the traditional project management model and self-developed digital management platform, the company has achieved deep integration of management and digitalization, and established a new model of enterprise growth based on fine management and control.
In the future, the company will continue to focus on the main engineering construction business, carry out in-depth quality and efficiency improvement actions with the goal of “digitalization and intelligent construction”, use digital models as carriers and “time+space” as the axis to drive the integration, visual expression and spatio-temporal dynamic evolution of key element information at all stages of engineering construction, establish a collaborative office management and control platform for the whole process of project construction based on digital models, and integrate key means such as intelligent IoT sensing, big data decision analysis, and intelligent equipment to build an efficient technical control system for all aspects of “people, machines, materials, processes, and testing” Energy, upgrade Management efficiency and effectiveness. The company insists that scientific and technological innovation should be problem-oriented, focus on construction and production, systematically solve technical difficulties, steadily promote scientific and technological innovation, and raise the level of standardization, digitalization and intelligence of engineering construction.
2. Pay attention to investor returns and protect shareholders' rights
The company attaches importance to investor returns, formulates dividend policies in strict accordance with the company's articles of association and relevant laws and regulations according to its own development stage, industry characteristics, profitability and major capital use plans, and actively implements dividend plans through cash-based profit distribution methods.
After deliberation and approval at the 2023 Annual General Meeting of Shareholders of the Company held on May 10, 2024, the Company plans to distribute a cash dividend of 0.02 yuan (tax included) per share to all shareholders, for a total cash dividend of 31,978,056.64 yuan, with a cash dividend ratio of 67.93% in 2023. In the future, the company will determine a reasonable profit distribution plan based on the stage of development, combined with the current business situation and future development plans, and determine a reasonable profit distribution plan to maintain the continuity and stability of the company's profit distribution policy. In order to meet the company's capital requirements for normal production and operation, the company will insist on prioritizing the distribution of profits in cash.
3. Improve the quality of information disclosure and strengthen investor communication
The company strictly complies with the provisions of relevant laws, regulations and regulatory documents such as the “Company Law”, “Securities Law”, “Shanghai Stock Exchange Stock Listing Rules”, etc., and fulfills its information disclosure obligations in a true, accurate, complete, timely and fair manner. The company attaches great importance to communication with investors. It has carried out investor relations management and maintenance work from multiple dimensions. Through the investor hotline, the “Shanghai Stock Exchange e-interaction” platform, receiving on-site research, and holding performance briefings, etc., the company maintains unobstructed communication channels with investors, treats all shareholders equally, and continuously enhances the transparency of company information.
In the future, the company will continue to strengthen communication with various investors, continuously broaden the channels for investors to participate in the company's communication, promptly communicate the company's business situation to the market in a timely manner, hold regular performance briefings after regular reports and quarterly reports, actively participate in group activities organized by exchanges, listed company associations, etc., and actively organize company management to have in-depth communication with investors through performance briefings, shareholders' meetings, etc., to respond to investors' concerns, convey corporate value, and enhance investors' understanding and value recognition of the company.
4. Strengthen the responsibilities of the “key minority” and improve corporate governance
The company continues to strengthen the corporate governance system, improve the hierarchical governance structure of the shareholders' meeting, board of directors, board of supervisors and management, improve the effectiveness of internal control, continuously improve the level of corporate governance and standardized operation, and comprehensively protect shareholders' rights and interests.
In 2024, the company will actively implement securities regulation training for a critical minority of senior directors and supervisors to establish a sense of compliance; respond positively to the reform spirit of the independent director system, give full play to the professionalism and independence of independent directors, further expand independent directors' right to know and supervise; continue to strengthen board building to further enhance strategic leadership, scientific decision-making power and risk prevention; continuously optimize the internal control system, strengthen comprehensive risk management, enhance the company's ability to respond to changes in the internal and external environment, and enhance overall core competitiveness.