Zhejiang Provincial Economic Construction Investment Co., Ltd.

Zhejiang Provincial Economic Construction Investment Co., Ltd. (hereinafter referred to as "the Provincial Economic Investment Company") was approved for establishment by the Provincial People's Government in January 1988. It takes it as its mission to implement the development strategies, industrial policies, and construction plans of the Zhejiang Provincial Government, and actively assumes the role of the provincial government's investment entity. Since its incorporation into the Provincial Communications Group in 2016, the Provincial Economic Investment Company has actively fulfilled the duties of the Group's industrial investment platform, accelerating the development of the comprehensive transportation industry sector and capital operations. Its investments cover fields including rail transit, equipment manufacturing, hydropower resources, finance and securities, and strategic emerging industries. Currently, the Provincial Economic Investment Company has a registered capital of 2.9372 billion yuan, with Ma Yajun as the legal representative. Its registered address is No. 166 Tianmushan Road, Hangzhou City, Zhejiang Province, and it has a total of more than 130 employees.
The Company owns two holding companies, namely Zhejiang Zheshang Equipment Engineering Services Co., Ltd. and Zhejiang Communications Investment Intelligent Transportation Technology Co., Ltd., as well as 16 shareholding enterprises including Zhejiang Jingning Shangbiao Hydropower Generation Co., Ltd., Hangzhou CRRC Vehicle Co., Ltd., Hangzhou CRRC Times Electric Equipment Co., Ltd., Wenzhou EMU Depot Project Co., Ltd., Zhejiang China Railway Engineering Equipment Co., Ltd., Cixi Baolin Compressor Co., Ltd., Yong'an Futures Co., Ltd., Shandong Langjin Technology Co., Ltd., and Zhejiang Provincial Shipping Group Co., Ltd. Among them: it holds 4.9688 million tradable shares of Bank of Communications Co., Ltd.; its invested shareholding enterprise Langjin Technology (300594) was listed on the ChiNext Board of the Shenzhen Stock Exchange in June 2019; and its invested shareholding enterprise Yong'an Futures (600927) was listed on the main board of the Shanghai Stock Exchange in December 2021.
In 2021, the Company achieved operating revenue of 164.83 million yuan, total profit of 254.32 million yuan, and net profit of 236.64 million yuan; in 2022, the Company achieved operating revenue of 273.53 million yuan, total profit of 276.67 million yuan, and net profit of 260.44 million yuan, representing year-on-year growth of 65.95%, 8.79%, and 10.06% respectively. As of the end of 2022, the Company's total assets were 5.279 billion yuan, and net assets were 4.549 billion yuan.
During the "14th Five-Year Plan" period, the Provincial Economic Investment Company will, in accordance with the Group's overall industrial development strategy, the "Action Outline for Striving to Be a * Enterprise," and the "Group's Development Strategy Plan for the Next Five Years (2023-2027)," take "building an investment platform for the Group's transportation-related industries and strategic emerging industries" as its fundamental strategic goal, "industrial investment + industrial operation" as its fundamental internal driving force, and the multi-party resources of the provincial-level comprehensive transportation investment and financing platform as its fundamental external advantage. Focusing on extending, supplementing, and strengthening the comprehensive transportation industry chain and on incubating and cultivating strategic emerging industries, it will deepen its efforts and, through multiple models such as cooperation with central state-owned enterprises, PPP project cooperation, and intra-group linkage and collaboration, and through multi-level and all-round investment means such as equity investment, joint venture establishment, merger and acquisition integration, industrial funds, government-enterprise cooperation, and capital operations, build a professional, market-oriented, and international investment institution, and properly fulfill its duties and mission of cultivating the Group's transportation-related industry sector.