time goes by, we have gone through an extraordinary, unusual and difficult 2022. In the past year, with the trust and support of shareholders, the board of directors actively played the role of setting strategy, making decisions and preventing risks, and the management and all employees worked hard to overcome difficulties and pressure. On behalf of the Board of Directors, I would like to present and report the Company's major annual results to all shareholders for review, and express my sincere gratitude to all parties concerned for their long-term concern and support for the development of the Company!
In 2022, in the face of the turbulent international environment and the arduous task of domestic reform, development and stability, the Chinese government intensified macro-policy adjustment to effectively respond to the "triple pressures" of demand contraction, supply shocks, expected weakening and the impact of unexpected factors, with GDP of RMB 121.02 trillion yuan, an increase of 3.0% over the same period of last year. The economy has been running smoothly and the quality of development has been steadily improved.
We focused on production and operation, built a solid foundation for efficiency with the tenacity of forging ahead, and the operating results were in line with expectations. The basic building materials business consolidated the foundation for efficiency, the operating results of the new materials business reached a new high, and the engineering and technical services business continued to consolidate and improve.
We focused on the internal strength of management, tapped the potential and consolidated the quality of development with rational improvement. Focusing on the special analysis and research of investment management, we improved the investment logic and models of different types, such as maintenance, strategic and expansion, and tapped the potential of cost reduction and efficiency enhancement, resulting in a significant decrease in the three expenses year on year.
We promoted the transformation and upgrading of the industry in an all-round way. The second phase of business integration of the basic building materials segment has been steadily promoted, the step-by-step layout of the new materials segment has been gradually improved, and the engineering and technical services segment has successfully completed the integration of operation and maintenance business and promoted the integration of equipment business. We will
focus on innovation and transformation, constantly break through scientific and technological innovation, enhance our leading edge, complete a number of scientific and technological research tasks, and break through a number of key core technologies. We will continue to make progress in green and low-carbon transformation, and accelerate the layout of a number of green and low-carbon demonstration projects and green energy projects; Digital transformation is accelerating, top-level design is strengthened, and the construction of digital transformation system is promoted. We
focused on the reform to stimulate the vitality and efficiency, the three-year action of state-owned enterprise reform was successfully completed, and the reform of operating mechanism developed in depth; we focused on the leadership of Party building, continued to strengthen the root and cast the soul, in-depth study, publicity and implementation of the spirit of the 20th National Congress of the Communist Party of China, and led the high-quality development with high-quality Party building.
Looking back, we continued to develop in the course of overcoming difficulties and insisted on making steady progress and improving quality. In 2022, the consolidated operating revenue of the Group was RMB230,168 million, representing a year-on-year decrease of 16.5%; Profit attributable to equity holders was RMB7,962 million, representing a year-on-year decrease of 51.2%.
Looking forward to the journey, the future can be expected. 2023 is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China, and also the key year to implement the "14th Five-Year Plan". Opportunities and challenges coexist. From the international point of view, 100 years of accelerated evolution, political, economic, social and other fields of contradiction overlap, uncertainty will become the norm. From the domestic point of view, the foundation of economic recovery is not yet solid, demand contraction, supply shocks, expected to weaken the triple pressure is still greater, but China's economy has strong resilience and great potential, and the long-term fundamentals have not changed. With the continuous release of policy effects and the gradual improvement of market confidence, the foundation of economic recovery will be further consolidated, and the annual GDP growth target will be around 5%; From the perspective of the industry, the slowdown in demand, overcapacity, high cost and other characteristics are obvious, and the task of optimizing ecology, reducing production capacity and reducing cost is arduous. However, with the overlapping efforts of stock policy and incremental policy, it is expected that the demand side is expected to rebound as a whole, the structural reform of the supply side will be further promoted, and the development prospects of the industry are promising. In
2023, we will combine the new situation and new tasks, take building a world-class material enterprise as the goal, take improving core competitiveness and enhancing core function positioning as the two core of high-quality development, and make steady progress. "Steady growth" , to consolidate high-quality development with steady progress, seize the opportunity of overall improvement of the domestic economy, closely follow the changes in the situation, to benefit from market development, to benefit from three-fine management, and to benefit from coordinated benchmarking. "Grasp innovation" , drive high-quality development with scientific and technological innovation, forge national strategic scientific and technological forces, further promote the industrialization of scientific and technological achievements, and accelerate the release of new digital momentum. "Excellent industry" promotes high-quality development through industrial upgrading, highlights consolidation, optimization and upgrading of basic building materials, highlights excellence, strength and expansion of new materials, highlights upgrading and iterative expansion of engineering and technical services, consolidates the three major industries and speeds up the construction of a modern industrial system, solidly promotes the work of "double carbon" and steadily promotes internationalization. Actively help build a new development pattern. "Promoting reform" aims to deepen reform and enable high-quality development, continuously deepen the reform of governance mechanism, strengthen professional integration, speed up the optimization and adjustment of the distribution of state-owned capital, and deepen the reform of market-oriented operation mechanism. "Risk prevention" , escorting high-quality development with risk provention and control, focusing on key links in key areas, improving wind control mechanism, optimizing internal control process, and deepening compliance management. "Strengthen Party building" to strengthen Party building to lead high-quality development, comprehensively study, grasp and implement the spirit of the 20th National Congress of the Party, and lead high-quality development with high-quality Party building.
We are in the period of adapting to the uncertainty of normalization, accelerating the transformation of adjustment and transformation, leaping from high-speed growth to high-quality development, and accelerating the growth of world-class material enterprises. We will take continuous innovation as the driving force, care about the "big country", build the "big country" and promote high-quality development in an all-round way. It is committed to value creation and shareholder returns.
Zhou Yuxian
Chairman
Beijing
, China March 24
, 2023
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