Financial Performance - The company reported a net profit attributable to shareholders of -¥162,077,577.53 for 2013, a decrease of 329.47% compared to the previous year[5]. - Operating revenue for 2013 was ¥771,759,619.53, down 4.13% from ¥804,986,600.30 in 2012[19]. - The net asset attributable to shareholders decreased by 22.38% to ¥649,440,630.57 at the end of 2013 from ¥836,724,465.85 at the end of 2012[19]. - The total assets of the company decreased by 3.37% to ¥2,326,452,450.18 in 2013 from ¥2,407,669,305.40 in 2012[19]. - The cash flow from operating activities was ¥153,985,045.74, a decrease of 21.18% compared to ¥195,363,207.15 in 2012[19]. - The company reported a basic and diluted earnings per share of -0.32 yuan, a decrease of 328.57% compared to the previous year[20]. - The weighted average return on net assets was -21.45%, a decrease of 30.26 percentage points year-on-year[20]. - Non-operating losses totaled 135.39 million yuan, significantly impacting overall profitability[22]. - The company reported a net cash flow from operating activities of 153.99 million yuan, a decrease of 21.18% year-on-year[27]. - The company reported a decrease in tax expenses by 357.56% due to increased deductible losses and recognition of deferred tax assets[33]. - The company's net profit and basic earnings per share saw a significant decline due to reduced investment income and increased asset impairment losses[36]. - The company reported a significant related party transaction with State Grid Sichuan Electric Power Company, purchasing electricity for RMB 384,717,722.70, accounting for 88.07% of similar transactions[92]. Operational Challenges - The company faced challenges due to the "7.09" mudslide disaster, which severely damaged power generation and supply facilities, leading to reduced electricity demand[25]. - The company incurred a direct loss of CNY 67,171,500 due to the mudslide disaster, impacting overall profitability[35]. - The average utilization hours for hydropower equipment were 3,318 hours, a decrease of 273 hours compared to the previous year[24]. - The company plans to focus on disaster recovery and improving operational stability in response to recent challenges[25]. - The company is experiencing funding risks due to significant investments in recovery and reconstruction post-disaster, leading to cash flow challenges[59]. - The company faces safety risks due to natural disasters affecting production facilities, necessitating enhanced safety management measures[58]. Investment and Financing - The company plans to optimize its asset structure and utilize various financial tools to reduce funding costs, targeting a comprehensive debt financing cost below 7%[57]. - The total investment cash inflow decreased by 29.52% to CNY 69,354,799.77 from CNY 98,404,617.79 in the previous year[34]. - The net cash flow from investment activities was CNY -131,790,754.88, a significant decline from CNY 7,050,180.56 last year[34]. - The cash outflow for investment activities increased significantly by 120.18% to CNY 201,145,554.65 from CNY 91,354,437.23 last year[34]. - The company has recognized a provision for the guarantee liability of RMB 61.32 million and related interest in its 2013 financial statements[83]. Strategic Initiatives - The company is focused on maintaining sustainable development and long-term returns for shareholders[5]. - The company aims to enhance management efficiency through refined management practices, focusing on cash flow management and optimizing performance evaluation systems[52]. - The company intends to leverage opportunities from the national "12th Five-Year Plan" to expand its electricity market and innovate marketing models, aiming for steady growth in electricity production and sales[53]. - The company is positioned to benefit from the increasing energy demand in the western region of China, which is expected to enhance electricity consumption[49]. - The company operates in a region with significant policy advantages for hydropower development, providing a favorable environment for growth[50]. Governance and Compliance - The company has received a standard unqualified audit report from Ruihua Certified Public Accountants[4]. - The company has maintained independence from its controlling shareholder in business operations, financial management, and asset ownership[158]. - The company has not faced any penalties or criticisms from the China Securities Regulatory Commission or stock exchanges during the year[99]. - The company has established a performance evaluation and incentive mechanism for senior management, with the board setting annual performance targets[156]. - The company has maintained compliance with all major aspects of the disclosure requirements set by the China Securities Regulatory Commission[199]. Human Resources and Social Responsibility - The company has committed to enhancing the recruitment, training, and development of technical and management talents to foster a win-win relationship with employees[61]. - The company actively fulfills its social responsibilities, including a donation of 2 million RMB to the Aba Prefecture Education Research Fund and scholarships for impoverished students[65]. - The company has a management team with an average age of 46 years, indicating a relatively young leadership[127]. - The total number of shareholders as of the end of the reporting period is 57,304, an increase from 55,227 prior to the annual report disclosure[115]. - The company has undergone changes in its board and supervisory personnel, with several appointments made during the shareholders' meeting[142].