Financial Performance - Operating revenue for the first quarter was CNY 1,557,182,144.62, a decrease of 3.43% year-on-year[10] - Net profit attributable to shareholders was CNY 139,727,504.30, showing a slight increase of 0.06% compared to the same period last year[10] - Investment income for the first quarter was CNY 180,667,400.88, down from CNY 204,312,847.65 year-over-year[32] - The company reported a total operating cost of CNY 1,541,679,345.50, down from CNY 1,623,075,721.35, reflecting a decrease of approximately 5%[28] - Other comprehensive income for the first quarter was negative at CNY -558,303,111.74, compared to a positive CNY 252,867,298.55 in the previous year[29] Assets and Liabilities - Total assets decreased by 7.27% to CNY 10,865,297,977.69 compared to the end of the previous year[10] - Total liabilities decreased from ¥6,606,483,396.21 to ¥6,198,022,496.04, indicating a reduction in overall debt levels[23] - Non-current assets totaled ¥4,909,222,915.14, down from ¥5,526,685,762.72 at the beginning of the year[22] - Cash and cash equivalents decreased by 39.19% to CNY 751,916,107.50 due to increased prepaid payments[14] - Cash and cash equivalents decreased from ¥1,236,600,969.67 to ¥751,916,107.50, reflecting a decline in liquidity[21] Shareholder Information - The number of shareholders at the end of the reporting period was 32,457[11] - The largest shareholder, Zhejiang International Trade Group Co., Ltd., holds 45.16% of the shares, totaling 228,253,122 shares[12] Cash Flow - Cash flow from operating activities was negative at CNY -821,842,408.84, a decline of 155.49% compared to the previous year[10] - Cash received from operating activities decreased by 86.61% to ¥66,741,939.81, mainly due to a reduction in cash received compared to the previous period[16] - The net cash flow from operating activities was -557,365,662.45 RMB, compared to -454,573,610.88 RMB in the previous period, indicating a decline in operational performance[36] - Cash inflow from investment activities totaled 188,137,199.92 RMB, while cash outflow was 135,889,630.03 RMB, resulting in a net cash flow of 52,247,569.89 RMB, down from 269,131,623.55 RMB in the previous period[37] - The total cash outflow for operating activities was 1,133,735,884.00 RMB, compared to 912,941,281.23 RMB in the previous period, highlighting increased operational costs[36] Borrowings and Financing - Long-term borrowings increased by 47.74% to CNY 778,920,174.77, attributed to new borrowings by subsidiaries[14] - The company raised 666,317,139.47 RMB through borrowing, an increase from 525,133,069.06 RMB in the previous period, reflecting a stronger financing position[37] - The net cash flow from financing activities was 264,118,833.93 RMB, a significant improvement from -137,467,033.35 RMB in the previous period, indicating better capital management[37] Performance Ratios - The weighted average return on equity decreased by 0.27 percentage points to 3.37%[10] - Basic and diluted earnings per share remained stable at CNY 0.28 for both the current and previous periods[29] Impairment and Other Charges - Asset impairment losses increased by 146.16% to -¥23,145,456.04, primarily due to the reversal of bad debt provisions[16] - Operating tax and additional charges decreased by 39.81% to ¥3,765,271.97, mainly due to a reduction in sales from the subsidiary's real estate[16]

Financial Performance - The company's operating revenue reached RMB 10.83 billion in 2013, a year-on-year increase of 36.48%[22]. - Net profit attributable to shareholders was RMB 608.33 million, reflecting a 52.14% increase compared to 2012[22]. - The basic earnings per share rose to RMB 1.20, up 51.90% from the previous year[22]. - The total profit for the year was RMB 951 million, representing a 33.63% growth year-on-year[27]. - The company achieved a total sales of RMB 10.31 billion in the commercial circulation sector, with exports contributing RMB 5.24 billion and domestic trade RMB 5.07 billion[27]. - The company's total assets increased to RMB 11.72 billion, a growth of 19.34% from the previous year[22]. - The weighted average return on equity rose to 15.21%, an increase of 3.11 percentage points year-on-year[22]. - The company's gross profit margin decreased as the cost of goods sold rose to ¥9,956,028,467.26, a 41.63% increase compared to the previous year[34]. - The net cash flow from operating activities was negative at RMB 1.04 billion, a decline of 120.12% compared to 2012[22]. - The company reported a revenue increase of 5.79% from self-operated exports, totaling ¥4.52 billion[39]. - Domestic sales surged by 73.21%, reaching ¥6.28 billion, indicating strong market demand[39]. Dividend Policy - The company plans to distribute a cash dividend of 3.60 RMB per 10 shares, totaling 181,970,443.44 RMB, with retained earnings of 1,327,403,174.20 RMB to be carried over to 2014[7]. - For 2013, the proposed cash dividend is 3.60 CNY per 10 shares, amounting to 181,970,443.44 CNY, representing 30.00% of the net profit attributable to shareholders[64]. - The company emphasizes a cash dividend policy, aiming for a minimum distribution of 30% of the average distributable profit over the last three years[62]. - In 2012, the company distributed a cash dividend of 2.5 CNY per 10 shares, totaling 126,368,363.50 CNY, which accounted for 31.60% of the net profit attributable to shareholders[62]. Business Operations - The main business areas include trade circulation, real estate operations, garment production, and financial investment services[18]. - The company has undergone changes in its main business since its listing, expanding from textiles and garments to include real estate and financial investments[18]. - The company’s controlling shareholder is Zhejiang Provincial International Trade Group Co., Ltd., following a restructuring in 2008[19]. - The company has established a new supply chain for raw materials from Guangdong to Cambodia, significantly reducing transportation costs[31]. - The company has successfully entered the Japanese market through a partnership with UNIQLO, aiming to enhance export business[30]. - The company plans to invest an additional $4.5 million to establish a new knitting company in Cambodia, expanding its production capacity[30]. Risk Management - The company emphasizes the importance of risk factors in its future development strategies[12]. - The company recognizes potential risks from global economic uncertainties and rising costs in domestic resources, which may impact its operations[58]. - The company is committed to risk management and will implement measures to enhance product quality and brand building to maintain competitive advantages[59]. Corporate Governance - The company has established a comprehensive modern enterprise system and continuously improves its corporate governance structure[111]. - The company maintained a strict separation from its controlling shareholder, ensuring no misuse of resources or interference in decision-making[112]. - The independent directors did not raise any objections to board resolutions during the reporting period, indicating strong governance[119]. - The company established a communication mechanism with its controlling shareholder to ensure timely information disclosure[112]. - The audit committee reviewed the internal control self-assessment report for 2012 and found the internal control system to be effectively implemented, contributing to the company's stable financial condition[123]. Investments and Acquisitions - In 2013, the company made external investments totaling CNY 13,007.22 million, a decrease of 61.94% compared to CNY 34,176.39 million in 2012[44]. - The major external investments included CNY 7,000 million in Zhejiang Guomao New Energy Investment Co., Ltd., accounting for 35% of the company's equity[44]. - The company is exploring potential acquisitions to enhance its supply chain efficiency, with a budget of 300 million CNY allocated for this purpose[95]. Employee and Management - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 18.1669 million yuan[102]. - The company employed a total of 7,034 staff, including 80 in the parent company and 6,954 in major subsidiaries[104]. - The company has implemented a series of salary assessment systems covering all levels of employees, including the "Executive Annual Salary System" and "Performance Assessment Trial Measures" for various departments[106]. Financial Reporting and Compliance - The company received a standard unqualified audit report from Tianjian Accounting Firm[7]. - The financial statements for the year ended December 31, 2013, were prepared in accordance with accounting standards and fairly reflect the company's financial position[134]. - The company adheres to the Chinese Accounting Standards, ensuring compliance in financial reporting[172]. - The company has established specific criteria for determining the impairment of financial assets and the recognition of losses, ensuring compliance with accounting standards[182].