Financial Performance - The company achieved a net profit of CNY 1,920,890,199.53 for the year 2013, with total distributable profits amounting to CNY 4,253,398,268.25 by year-end[5]. - The company achieved a revenue of RMB 20.34 billion in 2013, marking a 64.25% increase compared to RMB 12.38 billion in 2012[34]. - Net profit attributable to shareholders reached RMB 2.74 billion, a significant increase of 223.56% from RMB 848.15 million in the previous year[34]. - The basic earnings per share rose to RMB 0.69, up 213.64% from RMB 0.22 in 2012[33]. - The company reported a significant increase in fair value gains of RMB 32.10 million, compared to RMB 3.46 million in the previous year[45]. - The company achieved a total profit of 22.08 billion RMB, leading to an income tax expense of 5.05 billion RMB, an increase of 163.09%[58][59]. - The company reported a cash dividend of 44,213.55 thousand RMB for the year 2013, which is 16.11% of the net profit attributable to the parent company[144]. - For 2012, the cash dividend was 11,668.32 thousand RMB, representing 13.76% of the net profit attributable to the parent company[144]. Operational Expansion - The company completed 27 offshore installations and laid over 600 kilometers of subsea pipelines, reflecting a significant operational expansion[47]. - The company signed new orders worth approximately RMB 19.8 billion, the highest in its history, with domestic orders accounting for RMB 18.8 billion and overseas orders around RMB 1 billion[46]. - The company has made significant advancements in deep-water development strategies and international market expansion, exceeding operational targets[65]. - The company has established a modular production scale, securing contracts for several international projects, including the Gorgon LNG project and the Ichthys LNG project[67]. - The underwater engineering business generated revenue exceeding 2.6 billion RMB, indicating a substantial scale in this sector[71]. Research and Development - Research and development expenses increased by 92.74% to RMB 845.41 million, indicating a strong focus on innovation[44]. - Research and development expenses totaled 845.41 million RMB, a 93% increase compared to the previous year, representing 4.16% of total revenue[61]. - The company has invested in underwater engineering support vessels and robots to improve its underwater operational capabilities, reflecting a commitment to technological advancement[114]. Financial Management - The company has a total of CNY 220 million in guaranteed income from various financial products as of December 31, 2013[104]. - The company has engaged in various financial products with guaranteed returns, indicating a strategy focused on capital preservation[103]. - The company’s investment strategy includes both wealth management and equity investments, reflecting a diversified approach to asset management[103]. - The total amount of funds raised in 2013 was CNY 350 million, with CNY 81 million utilized by the end of the year, leaving CNY 268.99 million unutilized[108]. Shareholder Relations - The company actively engages with minority shareholders to gather their opinions on dividend distribution plans[140]. - The board of directors must complete the distribution of dividends within two months after the shareholders' meeting decision[142]. - The company will adjust its dividend policy in case of significant external changes affecting operations, subject to board and shareholder approval[141]. Market Position and Strategy - The company is recognized as one of the largest EPCI contractors in the Asia-Pacific region, specializing in offshore oil and gas engineering[26]. - The company is positioned as the only large-scale marine oil engineering contractor in China, with over 30 years of industry experience and a leading role in domestic marine oil and gas development[124]. - The company plans to enhance its international market development efforts to capture more opportunities as global exploration spending continues to rise[122]. - The company aims to accelerate its transition to deep-water operations, aligning with global trends towards deeper oil and gas field investments[123]. Corporate Governance - The company has maintained a strong supervisory board with members like Feng Jingxin and Zhang Xianghua serving since 2013, enhancing oversight capabilities[200]. - The management team has extensive experience in the oil and gas sector, with many members having over a decade of service in their respective roles[199]. - The company has a clear succession plan with several executives having transitioned through various leadership roles, ensuring operational continuity[199]. Related Party Transactions - The total amount of professional services provided to related parties reached RMB 17.201 billion, accounting for 84.56% of similar transactions[153]. - The company engaged in significant related party transactions, with RMB 16.452 billion provided to China National Offshore Oil Corporation, representing 80.89% of similar transactions[153]. - The company emphasizes the necessity and sustainability of related party transactions due to the rapid development of China's offshore oil industry[156]. Risk Management - The company will implement measures to manage foreign exchange risks as its overseas business expands, including incorporating exchange rate risks into cost control and using financial instruments[134]. - The company is committed to safety management and quality control to mitigate risks associated with natural disasters and adverse weather conditions[133].