Dividend and Profit Distribution - The company plans to distribute a cash dividend of 7 RMB per 10 shares, totaling 1,513,634,304 RMB, based on a total share capital of 2,162,334,720 shares as of the end of 2013[4] - The remaining undistributed profit amounts to 380,467,266.01 RMB, which will be carried forward for future distribution[4] Financial Performance - In 2013, the company achieved a revenue of CNY 20.24 billion, a year-on-year increase of 26.95%[23] - The net profit attributable to shareholders reached CNY 2.89 billion, up 23.10% from the previous year[23] - The total assets at the end of 2013 amounted to CNY 31.14 billion, reflecting a growth of 38.16% compared to the previous year[23] - The weighted average return on equity was 32.62%, an increase of 1.59 percentage points year-on-year[24] - The company’s total net assets reached CNY 9.68 billion, a year-on-year increase of 16.54%[23] - The company’s asset-liability ratio was 62.17%, an increase of 5.84 percentage points from the beginning of the year[31] - The company reported a total profit of RMB 4,425,684,185, which is a 24.2% increase from RMB 3,565,918,631 in the previous year[176] - The net profit for the year 2013 was CNY 2,348,879,482.70, representing a significant increase compared to the previous year[197] Business Operations and Strategy - The company reported a significant change in its business scope, expanding to include the development, production, and sales of polyether and its derivatives, as well as safety production licenses for chemical hazardous materials[17] - The company has been actively involved in the self-operated import and export business within the approved scope, which includes various chemical products[18] - The company has maintained a focus on technology services and personnel training as part of its operational strategy[17] - The company has established a strong foundation for future growth through its diversified business scope and strategic partnerships[17] - The company aims to enhance its operational efficiency and explore potential mergers and acquisitions to strengthen its market position[196] Research and Development - Research and development expenditure increased by 34.00% to approximately ¥768.64 million, reflecting the company's commitment to innovation[46] - The company applied for 69 domestic and international patents, receiving 48 authorizations in 2013, showcasing its commitment to technological innovation[67] - The company has over 800 full-time R&D personnel, including nearly 50 PhDs and over 300 master's degree holders, emphasizing its focus on talent development[68] Investments and Capital Expenditure - The total investment amount during the reporting period was RMB 354.87 million, with an increase of RMB 333.53 million compared to the previous year, reflecting a growth rate of 1,563.28%[73] - The total investment in the Wanhua Yantai Industrial Park project is RMB 28 billion, with 25.57% of the project completed and RMB 7.16 billion invested to date[79] - The company secured a long-term low-interest loan to support large-scale investments in its Yantai industrial park[38] Risk Management - There are no significant risks identified that could adversely affect the company's future development strategy and operational goals[8] - The company is facing financing risks due to a large portion of funding for the Yantai Industrial Park being sourced from debt[85] Corporate Governance - The company has improved its corporate governance structure in compliance with relevant laws and regulations, ensuring the protection of investors' rights[141] - The company has maintained independence from its controlling shareholder in business, personnel, assets, and finance, ensuring autonomous operational capabilities[149] - The company has established a performance evaluation mechanism for senior management, linking assessment results to salary, bonuses, and promotions[149] Shareholder Information - The largest shareholder, Wanhua Industrial Group Co., Ltd., holds 50.50% of the shares, totaling 1,091,880,317 shares, with 390,000,000 shares pledged[115] - The company has a total of 49,892 shareholders as of the end of the reporting period[115] Internal Control and Audit - The internal control audit report issued by the accounting firm was consistent with the board's self-evaluation report, indicating a standard opinion on the internal control effectiveness[154] - The company reported no significant errors in the annual report during the reporting period, demonstrating effective internal control measures[156] Employee Information - The total number of employees in the parent company is 3,994, and in major subsidiaries, it is 2,436, resulting in a total of 6,430 employees[136] - The company has implemented various training programs for new hires and existing employees to enhance their skills and performance[138] Future Outlook - The company aims to achieve a sales revenue of 22 billion RMB in 2014[83] - The global MDI demand is expected to grow at a rate of over 5% annually in the coming years[82] - The company has a strategy of internationalization and related diversification to mitigate risks from a single product and market[86]