Financial Performance - Net profit attributable to shareholders increased by 23.80% to CNY 19,407,448.13 compared to the same period last year[9] - Operating revenue rose by 3.21% to CNY 810,769,317.26 compared to the same period last year[9] - Basic and diluted earnings per share increased by 23.80% to CNY 0.047[9] - Net profit for the current period was ¥7,712,562.73, a decrease of 31.5% from ¥11,256,534.05 in the previous period[36] - The net profit attributable to the parent company was ¥19,407,448.13, an increase of 23.8% compared to ¥15,676,948.33 in the previous period[35] Assets and Liabilities - Total assets increased by 14.50% to CNY 8,530,370,410.82 compared to the end of the previous year[9] - The company reported a decrease in net assets attributable to shareholders by 1.16% to CNY 3,179,742,945.16 compared to the end of the previous year[9] - The total liabilities of the company as of March 31, 2014, were CNY 5,022,848,176.43, compared to CNY 3,930,701,502.72 at the beginning of the year, indicating a rise of approximately 27.8%[28] - Total liabilities rose to ¥3,145,967,965.82, an increase of 24.4% from ¥2,528,149,020.69 in the previous period[33] Cash Flow - The net cash flow from operating activities was negative at CNY -105,466,906.31, a significant decrease from CNY 16,301,852.46 in the same period last year[9] - The financing activities resulted in a net cash inflow of ¥905,396,738.74, a turnaround from a cash outflow of ¥-23,934,606.56 in the same period last year, primarily due to the bond issuance[18] - Cash flow from operating activities showed a net outflow of ¥105,466,906.31, compared to a net inflow of ¥16,301,852.46 in the previous period[41] - The cash inflow from financing activities was 1,281,285,925.79 RMB, compared to 344,202,517.08 RMB in the previous period, marking a 272% increase[42] Investments - The company reported a significant increase in long-term receivables to ¥237,883,786.78, up 37.66% from ¥172,809,404.58 in the previous period[14] - The investment activities generated a net cash flow of ¥-147,304,373.01, which is a significant increase in cash outflow compared to ¥-14,733,629.01 in the previous year[18] - The cash flow from investment activities showed a net outflow of -121,549,397.30 RMB, compared to -38,197,577.70 RMB in the previous period, indicating increased investment expenditures[45] Shareholder Information - The total number of shareholders reached 54,155[12] - The largest shareholder, Shanshan Group Co., Ltd., holds 32.50% of the shares[12] Other Financial Metrics - The weighted average return on equity increased by 0.122 percentage points to 0.606%[9] - The company's cash and cash equivalents increased to ¥1,538,032,364.00, representing 18.03% of total assets, up from 11.36% in the previous period, a growth of 81.73%[14] - The company's other comprehensive income decreased by ¥53,110,222.59, primarily due to fluctuations in the market value of available-for-sale financial assets[16] - The company completed a capital increase for its subsidiary, raising the registered capital of Hunan Singshan New Materials Co., Ltd. from ¥66,666,700 to ¥296,666,700[22]

Financial Performance - The net profit of the parent company for 2013 was CNY 60,168,130.17, with a total distributable profit of CNY 546,301,209.74 after accounting for reserves and dividends[7]. - The company reported a significant increase in retained earnings, totaling CNY 516,801,387.41 at the beginning of the year[7]. - In 2013, the company achieved operating revenue of CNY 4,047.92 million, a year-on-year increase of 7.78%[36]. - The net profit attributable to shareholders was CNY 183.79 million, up 15.70% from the previous year[36]. - The net profit after deducting non-recurring gains and losses reached CNY 145.25 million, representing an 80.11% increase year-on-year[36]. - The company's cash flow from operating activities was negative at CNY -126.69 million, compared to a positive CNY 64.57 million in 2012[36]. - The company's basic earnings per share were CNY 0.447, an increase of 15.70% from CNY 0.387 in 2012[36]. - The company reported a weighted average return on equity of 5.16%, a slight decrease of 0.02 percentage points from the previous year[36]. - The company reported a net profit of RMB 183,789,079.40 for the year 2013, with operating cash flow at -RMB 126,687,538.77[117]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, amounting to CNY 24,651,494.82 in total dividends payable[7]. - The cash dividend distribution plan for 2013 is set at RMB 0.6 per 10 shares, subject to shareholder approval[117]. - The company has maintained a cash dividend policy that requires at least 30% of the average distributable profit over the last three years to be distributed in cash during profitable years[116]. - The average distributable profit for the last three years (2011-2013) is calculated to be RMB 53,012,223.60, with cumulative dividends of RMB 49,302,989.64 in 2011 and 2012[116]. Business Operations - The company has maintained its core business operations without any changes since its listing[24]. - The company has expanded its business scope to include lithium-ion battery materials manufacturing and processing[23]. - The lithium battery materials business generated CNY 216.39 million in revenue, a growth of 28.92% compared to the previous year[42]. - The gross profit from the company's clothing business decreased, with a revenue of CNY 172.59 million, down 4.25% year-on-year[37]. - The company divested its less profitable lithium-ion battery precursor business, receiving CNY 2.38 million from the first installment of the equity transfer[42]. - The company’s financing leasing subsidiary, Fuyin Financing Leasing, commenced operations, contributing to new revenue streams[59]. - The company has established a comprehensive product system in the lithium battery materials sector, including various types of cathode and anode materials[84]. - The company has implemented a multi-brand and internationalization strategy in its clothing business, enhancing its market position[83]. Research and Development - The company’s research and development expenditure increased by 27.97% to 96.17 million yuan, indicating a focus on enhancing product quality and innovation[54]. - The total R&D expenditure was CNY 96,165,045.86, accounting for 2.73% of net assets and 2.38% of operating revenue[67][68]. - The company has established a research and development team for lithium battery materials, including a postdoctoral workstation, enhancing collaboration with universities and research institutions[87]. - The company plans to strengthen its research and development capabilities and increase investment in cutting-edge material technologies[105]. Market and Competition - The company’s anode material business achieved a revenue of 672.63 million yuan, a year-on-year increase of 13.32%, while net profit attributable to shareholders decreased by 12.37% to 62.11 million yuan due to intensified market competition[44]. - The electrolyte business reported a revenue of 171.23 million yuan, a year-on-year decline of 18.13%, with net profit attributable to shareholders decreasing by 2.96% to 31.49 million yuan[45]. - The company anticipates challenges in the apparel sector due to weak consumer demand and the impact of e-commerce on traditional retail channels[109]. - The company expects to face risks related to raw material price fluctuations and potential underperformance in the electric vehicle market[111]. Corporate Governance - The company has a standard unqualified audit report issued by Lixin Certified Public Accountants[7]. - The company has not received any penalties or public reprimands from the China Securities Regulatory Commission or stock exchanges during the reporting period[143]. - The company’s governance structure includes independent directors who contribute to its strategic oversight, ensuring compliance and accountability[164]. - The company is actively involved in corporate governance, with regular meetings to review and approve key management appointments and strategies[167]. Investments and Financing - The company has invested RMB 682.78 million in Zhejiang Chouzhou Commercial Bank, holding an 8.07% equity stake, with a book value of RMB 872.04 million[92]. - The company issued bonds totaling RMB 7.5 billion with a coupon rate of 5.96%, maturing in 7 years, and began trading on March 26, 2014[71][72][73]. - The company plans to issue up to RMB 800 million in corporate bonds to optimize its debt structure and supplement working capital[150]. - The company has established a financing leasing subsidiary with a registered capital of RMB 100 million, holding a 70% stake[144]. Employee and Talent Management - The total number of employees in the parent company is 48, while the main subsidiaries employ 9,087, resulting in a total of 9,135 employees[172]. - The company has 118 employees with a master's degree or above, 809 with a bachelor's degree, 2,207 with a college diploma, 3,623 with high school or vocational education, and 2,378 with junior high school or below[172]. - The company implements a salary policy combining annual and monthly salary systems, with senior and middle management on an annual salary and grassroots employees on a monthly salary[173]. - The performance evaluation of senior management is based on the completion of annual financial budgets, operational indicators, and management goals[173]. Risk Management - The company emphasizes the establishment and effective implementation of internal controls to ensure compliance and asset security[200]. - The company acknowledges the inherent limitations of internal controls, which may affect their effectiveness over time[200]. - The company faced risks related to investment business expansion and post-investment management due to uncertainties in the domestic securities market and macroeconomic conditions[112]. - The company has experienced increasing pressure in post-investment management due to the growth in financing leasing and factoring business, necessitating effective risk control measures[112].