中国中铁（CHINA RAILWAY ENGINEERING GROUP）2025年年度报告（英文版）（343页）.pdf

1、CHINA RAILWAY GROUP LIMITED 2025 ANNUAL REPORT(a joint stock limited company incorporated in the Peoples Republic of China with limited liability)Stock Code:3902025ANNUALREPORThttp:/Block A,China Railway Square,No.69,Fuxing Road,Haidian District,Beijing,ChinaPostal Code:100039CHINA RAILWAY Huadian C

2、oal Industry+Buliangou Coal Mine Distributed Photovoltaic Power StationCover Legend1.The super-large diameter shield machine Patih Galang developed by the Company2.Dujiangyan North Water Plant Project3.Luming Mining Industry Mining Site4.Niulan River-Dianchi Lake Water Replenishment Project5.Chongqi

3、ng-Qianjiang Section of Chongqing-Xiamen High-Speed Railway12345 Typical Rural Township Project of Shuidong Avenue of the“High-Quality Development Projects for Ten Thousand Villages of a Thousand Towns of a Hundred of Counties(百千萬工程)”in Maoming CONTENTSCompany Profile3Financial Summary4Chairmans Rep

4、ort6Changes in Share Capital and Information on Shareholders10Business Overview22Management Discussion and Analysis44Biography of Directors and Senior Management56Report of the Directors65Report on Corporate Governance Practices82Independent Auditors Report113Financial Statements119Significant Event

5、s290Definition and Glossary of the Technical Terms337Company Information339 Changtan River Loushui Grand Bridge of Luhongshan-Cili Expressway010020030040050060070080005010015020025030035040005010015020025030035040000.30.60.91.21.500.050.100.150.200.250102030405060708005,00010,00015,00020,00025,00030

6、,00035,00003,0006,0009,00012,00015,0000246810Year-on-year decrease21.8%0.848Year-on-year decrease5.6%78.11.2941.08574.977.4Basic earningsper shareRMB/share%202520242023202520242023Dividend per share(tax inclusive)Gearing ratio0.1680.2100.178202520242023RMB00 million27,509.031,006.027,151.8New contra