2014 年第三季度报告 老凤祥股份有限公司 2014 年第三季度报告 1 / 24 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 12 | 2014 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 | 项目 | 本期金额 | 年初至报告期末金 | 说明 | | --- | --- | --- | --- | | | （7－9 月） | 额（1-9 月） | | | 非流动资产处置损益 | 197,996.64 | -429,332.35 | | | 越权审批，或无正式批 | 1,027,202.00 | 7,459,118.65 | | | 准文件，或偶发性的税 | | | | | 收返还、减免 | | | | | 计入当期损益的政府 | 8,404,747.48 | 24,748,518.79 | | | 补助，但与公司正常经 | | | | | 营业务密切相关，符合 | | | | | 国家政策规定、按照一 | | ...

老凤祥股份有限公司 LAO FENG XIANG CO.,LTD. 600612 900905 2014 年半年度报告 二零一四年八月二十六日 老凤祥股份有限公司 2014 年半年度报告 重要提示 (一)本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 (二)公司全体董事出席董事会会议。 (三)公司半年度财务报告未经审计。 (四)公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓雯声明： 保证本半年度报告中财务报告的真实、准确、完整。 (五)是否存在被控股股东及其关联方非经营性占用资金情况？ 否 (六)是否存在违反规定决策程序对外提供担保的情况？ 否 1 | 第一节 | 释义 | | 3 | | --- | --- | --- | --- | | 第二节 | 公司简介 3 | | | | 第三节 | 会计数据和财务指标摘要 4 | | | | 第四节 | 董事会报告 | | 4 | | 第五节 | 重要事项 | | .10 | | 第六节 | 股份变动及股东情况 | | 12 | ...

Financial Performance - The company's operating revenue for 2013 was approximately CNY 32.98 billion, representing a 29.08% increase compared to CNY 25.55 billion in 2012[23]. - The net profit attributable to shareholders for 2013 was approximately CNY 889.85 million, a 45.57% increase from CNY 611.31 million in 2012[23]. - The net cash flow from operating activities reached approximately CNY 1.52 billion, showing a significant increase of 102.82% compared to CNY 750.53 million in 2012[23]. - The total assets at the end of 2013 were approximately CNY 9.34 billion, reflecting a 5.09% increase from CNY 8.89 billion at the end of 2012[23]. - The net assets attributable to shareholders increased to approximately CNY 3.33 billion, a growth of 20.70% from CNY 2.76 billion in 2012[23]. - The basic earnings per share for 2013 were CNY 1.70, up 45.57% from CNY 1.17 in 2012[24]. - The diluted earnings per share for 2013 were also CNY 1.70, consistent with the basic earnings per share[24]. - The company reported a total of CNY 189.48 million in other operating income, including relocation compensation[33]. - The company's main business revenue for 2013 increased by 27.17% year-on-year, primarily due to increased sales in the jewelry business[37]. - The jewelry segment generated CNY 25,843,480,233.88 in revenue, reflecting an 8.77% increase year-over-year[50]. Cash Flow and Investments - The net cash flow from financing activities decreased by 888.54% to -522.07 million RMB, primarily due to cash payments for debt repayment and dividend distributions[43]. - Cash and cash equivalents increased by CNY 909,185,205.47, representing a growth of 48.40%[50]. - The company’s total investment in various listed companies resulted in a year-end book value of CNY 173,223,386.90, indicating a significant increase in shareholder equity[64]. - The total investment income from selling shares during the reporting period was CNY 6,356,749.84, with a total investment of CNY 52,373,949.55[66]. - The company’s investment in Shanghai Meilin resulted in a profit of CNY 4,979,206.89 from a total investment of CNY 4,360,610.01[66]. Market Expansion and Strategy - The company plans to enhance its product offerings and expand market presence, focusing on new technologies and strategic acquisitions[50]. - The company aims to achieve a revenue of no less than 35 billion yuan in 2014, with three expense categories not exceeding 4% of revenue[75]. - The company plans to open at least 120 new stores in 2014, aiming to reach a total of 1000 stores by the end of the "12th Five-Year Plan" period[75]. - The company will establish a new jewelry production base in Dongguan to enhance its product innovation and self-profitability[76]. - The company is focusing on technological and product innovation to enhance its competitive edge in the market[76]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 8.60 per 10 shares to shareholders[4]. - The company plans to distribute a cash dividend of RMB 0.86 per share for 2013, representing 50.56% of the net profit attributable to shareholders[81]. - For the fiscal year 2013, the total cash dividend amount is RMB 449,881,277.04, based on a total share capital of 523,117,764 shares[81]. - The retained earnings after the dividend distribution for 2013 will be RMB 96,070,950.71, which will be carried forward to the next fiscal year[81]. - The company emphasizes a sustainable cash dividend policy, aiming for at least 30% of the net profit attributable to shareholders to be distributed as cash dividends annually[80]. Corporate Governance and Compliance - The independent directors confirmed that the profit distribution plan complies with legal regulations and considers the company's profitability and cash flow[82]. - The company maintained effective internal control systems, with no significant deficiencies identified in financial reporting as of the evaluation report date[135]. - The company’s internal control audit was conducted by Zhonghua Accounting Firm, which issued a standard unqualified opinion on the effectiveness of internal controls for the 2013 financial report[137]. - The company’s governance structure complies with the requirements of the Company Law and relevant regulations from the China Securities Regulatory Commission[127]. - The company’s annual financial report was audited and confirmed by registered accountants from Zhonghua Accounting Firm, ensuring compliance with accounting standards[140]. Employee and Management Information - The company had a total of 2,184 employees, with 632 in production, 923 in sales, 183 in technical roles, 86 in finance, and 360 in administration[123]. - Total remuneration for all directors, supervisors, and senior management amounted to 12.134363 million yuan[120]. - The company employs a performance-based salary system to attract and retain talent, ensuring alignment with overall strategic goals[125]. - The company has no changes in directors, supervisors, or senior management during the reporting period[121]. - The company’s board members and senior management have maintained their shareholdings without any changes during the reporting period[118]. Risks and Challenges - The company faces risks from increasing competition in the jewelry market, with both domestic and international brands entering the market[78]. - The company aims to improve operational efficiency and reduce costs in response to the challenging market conditions[162]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[162]. Financial Position and Assets - The total assets of the company were reported at RMB 3,177,065,915.67, a decrease from RMB 3,177,065,915.67 in the previous year, indicating stability in asset management[159]. - The total liabilities decreased to RMB 5,469,054,586.80 from RMB 5,707,942,557.22, reflecting a reduction of approximately 4.18%[151]. - The company's equity increased to RMB 3,868,404,369.42, compared to RMB 3,177,065,915.67 in 2012, marking a growth of around 21.73%[151]. - The company's inventory stood at RMB 5,020,328,613.06, a decrease from RMB 5,277,262,256.21, which is a decline of about 4.87%[148]. - The total liabilities to equity ratio improved to approximately 1.42 from 1.80 in the previous year, indicating a stronger financial position[151].

Financial Performance - Net profit attributable to shareholders rose by 11.34% to CNY 237,047,507.38 year-on-year[6] - Operating revenue grew by 11.22% to CNY 10,110,151,436.44 compared to the same period last year[6] - Basic earnings per share rose by 11.33% to CNY 0.4531[6] - Net profit for Q1 2014 was ¥310,748,076.25, representing a 12.5% increase from ¥276,264,776.50 in Q1 2013[27] - The net profit attributable to shareholders of the parent company was ¥237,047,507.38, up from ¥212,913,587.55 in the previous year[27] - Basic and diluted earnings per share for Q1 2014 were both ¥0.4531, compared to ¥0.4070 in Q1 2013[27] Assets and Liabilities - Total assets increased by 16.09% to CNY 10,839,913,595.84 compared to the end of the previous year[6] - Total assets as of March 31, 2014, amounted to CNY 10,839,913,595.84, up from CNY 9,337,458,956.22 at the beginning of the year[21] - Total liabilities as of March 31, 2014, were CNY 6,677,272,620.05, compared to CNY 5,469,054,586.80 at the beginning of the year[22] - Total operating costs for Q1 2014 were ¥9,717,686,442.23, up 11.3% from ¥8,737,780,141.90 in Q1 2013[27] - Total equity attributable to shareholders was ¥2,119,114,896.04, down from ¥2,128,583,899.67 at the start of the year[24] Cash Flow - Cash flow from operating activities turned positive with a net amount of CNY 195,279,902.35, compared to a negative cash flow of CNY -98,669,022.05 in the previous year[6] - Net cash flow from operating activities in Q1 2014 was CNY 195,279,902.35, a significant increase from a negative CNY 98,669,022.05 in the same period last year[14] - Cash inflow from operating activities was ¥11,662,389,627.58, an increase from ¥10,825,334,615.18 in the same period last year[30] - The total cash outflow from operating activities amounted to ¥11,467,109,725.23, an increase from ¥10,924,003,637.23 year-over-year[31] - The company reported a net increase in cash and cash equivalents of ¥689,037,924.12 for the quarter, compared to an increase of ¥369,682,410.43 in the same period last year[31] Shareholder Information - The number of shareholders reached 36,367, with the top ten unrestricted shareholders holding a total of 42.09% of shares[8] Expenses and Income - Sales expenses in Q1 2014 increased by 45.41% year-on-year, primarily due to increased wages and advertising costs at subsidiary Shanghai Laofengxiang Co., Ltd.[13] - Operating income in Q1 2014 increased by 179.62% year-on-year, primarily due to an increase in government subsidy income.[13] - Operating expenses in Q1 2014 increased by 132.22% year-on-year, mainly due to increased compensation expenses at subsidiary Shanghai Great Wall Pen Co., Ltd.[13] - The company received government subsidies amounting to CNY 16,883,744.77, which are closely related to its normal business operations[7] Investment and Fair Value - Fair value changes in Q1 2014 decreased by 63.39% year-on-year, mainly due to a decrease in the market value of held trading financial assets.[13] - Investment income in Q1 2014 decreased by 100.00% year-on-year, as there were no gains from trading financial assets during the period.[13]