Financial Performance - The company's operating revenue for 2013 was approximately CNY 222.75 million, representing a 26.37% increase compared to CNY 176.27 million in 2012[20]. - The net profit attributable to shareholders for 2013 was CNY 6.87 million, up 28.66% from CNY 5.34 million in 2012[20]. - Basic earnings per share for 2013 increased by 29.09% to CNY 0.0142 from CNY 0.0110 in 2012[20]. - The total assets of the company at the end of 2013 were approximately CNY 2.29 billion, a 13.93% increase from CNY 2.01 billion at the end of 2012[20]. - The company's net cash flow from operating activities for 2013 was negative CNY 90.88 million, compared to negative CNY 97.77 million in 2012[20]. - The weighted average return on equity for 2013 was 0.41%, an increase from 0.31% in 2012[20]. - The company reported a net asset attributable to shareholders of CNY 1.67 billion at the end of 2013, a slight decrease of 0.49% from CNY 1.67 billion at the end of 2012[20]. - The company experienced a significant reduction in non-recurring losses, with a net profit excluding non-recurring items of negative CNY 31.92 million in 2013, compared to negative CNY 75.91 million in 2012[20]. Revenue Sources - The sugar industry generated operating revenue of RMB 218,833,739.84, while the electronic industry did not report any sales[25]. - The company's top five customers contributed RMB 217,601,266.14, accounting for 97.7% of total annual sales revenue[25]. Operating Costs and Margins - Operating costs increased to RMB 238,972,247.95, a rise of 37.87% from RMB 173,335,286.56 in the previous year[26]. - The gross margin for the sugar industry decreased by 6.58 percentage points to 32.37%[32]. Cash Flow and Investments - The company’s long-term borrowings reached RMB 293,000,000.00, marking a 100% increase as it was previously zero[33]. - The company acquired 2 million shares of Huazi Sugar Reserve for RMB 2,000,000, making it a wholly-owned subsidiary[36]. - Inventory increased by 100.44% to RMB 81,358,837.61 due to higher raw material purchases[33]. - The company has invested an additional 200 million RMB in its wholly-owned subsidiary, Baotou Huazi Sugar Reserve Warehouse Co., Ltd., to enhance sugar storage capacity[43]. Strategic Focus and Development - The company aims to establish a competitive refined sugar production base and enhance its logistics service capabilities in the Hubei, Inner Mongolia, and Ordos regions[45]. - The company plans to expand its storage capacity and increase the range of its reserves as part of its future strategy[46]. Shareholder Information and Dividends - The company proposed a cash dividend of CNY 0.05 per 10 shares, based on the total share capital as of December 31, 2013[3]. - The net profit attributable to shareholders for 2013 was 6,871,550.79 RMB, with a cash dividend payout ratio of 35.29%[51]. - In 2012, the company distributed a cash dividend of 0.10 RMB per 10 shares, totaling 4,849,320 RMB, based on a total share capital of 484,932,000 shares[49]. Corporate Governance and Management - The company has no major litigation, arbitration, or media disputes during the reporting period[52]. - The company has committed to avoiding related party transactions that could harm the interests of shareholders[60]. - The company has maintained stable leadership with no turnover in key management positions[86]. - The company’s board of directors includes a mix of experienced professionals from various sectors, enhancing governance[84]. Internal Controls and Audit - The company received a standard unqualified audit opinion from Zhongzhun Accounting Firm for its financial statements[111]. - The internal control system aims to ensure compliance with laws and regulations, improve operational efficiency, and safeguard shareholder rights[105]. - The company has established a responsibility system for significant errors in annual report disclosures, ensuring accountability and transparency[109]. Financial Position and Assets - Total assets increased to CNY 2,455,110,874.18 from CNY 2,189,260,068.83, representing a growth of approximately 12.2%[119]. - Total liabilities rose to CNY 746,695,515.94 from CNY 474,066,159.51, marking an increase of around 57.5%[120]. - Shareholders' equity decreased slightly to CNY 1,708,415,358.24 from CNY 1,715,193,909.32, a decrease of about 0.4%[120]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring that its financial statements accurately reflect its financial position, operating results, and cash flows[144]. - The company uses the accrual basis for accounting, with initial values based on historical cost[154]. - Financial assets and liabilities are initially measured at fair value, with subsequent changes recognized in the current profit or loss for trading financial assets and liabilities[164]. Employee Management - The company has a total of 1,236 employees, with 1,210 in the parent company and 26 in major subsidiaries[89]. - The company has implemented a training program aimed at enhancing the skills of management and staff, focusing on modern management knowledge and organizational capabilities[91].