Financial Performance - Operating revenue for the period reached CNY 558,228,183.37, representing a 29.87% increase year-on-year[5] - Net profit attributable to shareholders was CNY 59,963,942.11, up 13.78% from the same period last year[5] - The company reported a net profit excluding non-recurring gains and losses of CNY 51,133,299.20, a 4.41% increase year-on-year[5] - The company's operating revenue for Q1 2015 was CNY 522,190,062.89, an increase of 24.8% compared to CNY 418,378,516.60 in the same period last year[26] - The net profit for Q1 2015 reached CNY 58,816,243.29, up from CNY 53,446,903.61, reflecting an increase of 6.4% year-over-year[26] - The total profit for Q1 2015 was CNY 70,322,520.52, an increase of 12.5% from CNY 62,669,516.59 in Q1 2014[26] - The basic earnings per share for the quarter was CNY 0.2503, compared to CNY 0.2199 in the previous year, reflecting a growth of 14.5%[24] - The total comprehensive income for Q1 2015 was CNY 58,816,243.29, compared to CNY 53,446,903.61 in the same period last year, marking an increase of 10.4%[27] Cash Flow - The net cash flow from operating activities was negative at CNY -31,470,271.70, a decrease of 167.52% compared to the previous year[5] - The net cash flow from investment activities improved significantly, reaching CNY 14,659,536.42, a turnaround of 111.13% compared to the previous year[5] - The net cash flow from financing activities surged by 1686.71% to CNY 48,272,630.81, resulting from increased bank loans[11] - The cash flow from operating activities was CNY 439,087,430.91, up from CNY 305,528,028.92, indicating a strong increase of 43.7%[29] - The net cash flow from operating activities was -31,470,271.70 RMB, compared to 46,610,868.46 RMB in the previous period, indicating a significant decline[30] - The net cash flow from investing activities was 14,659,536.42 RMB, a recovery from -131,691,482.90 RMB in the previous period[30] - The net cash flow from financing activities was 48,272,630.81 RMB, compared to -3,042,315.80 RMB in the previous period[31] Assets and Liabilities - Total assets increased by 2.03% to CNY 3,224,939,983.74 compared to the end of the previous year[5] - Non-current assets totaled CNY 912,593,219.69, an increase from CNY 864,559,793.97 at the beginning of the year, representing a growth of 5.3%[16] - Total current assets amounted to CNY 2,312,346,764.05, slightly up from CNY 2,296,075,320.94[14] - Current liabilities amounted to CNY 1,107,262,867.36, slightly up from CNY 1,100,874,847.23, indicating a 0.4% increase[16] - Total liabilities reached CNY 1,169,270,165.02, compared to CNY 1,164,346,867.92, showing a marginal increase of 0.4%[16] - Owner's equity rose to CNY 2,055,669,818.72 from CNY 1,996,288,246.99, reflecting a growth of 2.9%[16] Shareholder Information - The number of shareholders at the end of the reporting period was 8,844[7] - The largest shareholder, Zhou Xiaoping, holds 43.34% of the shares, totaling 103,868,620 shares[7] Operational Costs - Operating costs increased by 33.17% to CNY 436,188,522.64, driven by higher sales[11] - Management expenses grew by 30.36% to CNY 41,228,307.81, reflecting business scale growth and increased R&D costs[11] - The company recorded a decrease in sales expenses to CNY 15,343,616.78 from CNY 17,683,485.11, which is a reduction of 13.2%[26] Inventory and Production - The company's inventory increased to CNY 530,963,088.64, up from CNY 497,979,757.94, indicating a rise in stock levels[14] - The construction of a new project for producing 500,000 sets of LED car lights is underway, with an increase in construction in progress by 38.94%[10] - Inventory levels rose to CNY 515,673,075.71 from CNY 483,668,977.38, representing a 6.5% increase[19] Government Subsidies - The company reported a significant increase in government subsidies, with operating income from non-operating activities rising by 806.45% to CNY 3,810,617.77[11]

Financial Performance - The company achieved a net profit of ¥275,947,388.73 for the year 2014, with a statutory surplus reserve of ¥27,594,738.87 deducted from the after-tax profit [3]. - The total distributable profit for shareholders at the end of the year was ¥426,721,812.64, after accounting for cash dividends of ¥174,964,429.00 paid for the previous year [3]. - A cash dividend of ¥7.80 per 10 shares (including tax) is proposed, totaling ¥186,929,262.00, with the remaining undistributed profit carried forward to future years [4]. - The company's operating revenue for 2014 was CNY 2,016,023,652.51, representing a year-on-year increase of 23.51% compared to CNY 1,632,303,141.42 in 2013 [27]. - The net profit attributable to shareholders for 2014 was CNY 272,703,747.13, reflecting a growth of 25.20% from CNY 217,816,443.02 in 2013 [27]. - Basic earnings per share for 2014 were CNY 1.1378, a 25.21% increase from CNY 0.9087 in 2013 [28]. - The company's total assets reached CNY 3,160,635,114.91 at the end of 2014, marking an 11.11% increase from CNY 2,844,537,752.33 in 2013 [27]. - The company reported a significant reduction in financial expenses, improving by 42.40% to -4.49 million yuan, primarily due to decreased interest income from working capital [49]. - The company reported a total of 30 million in entrusted financial management for the "Yuefu Y1336 Phase" product with a return of 428,054.80, yielding an annual interest rate of 6.2% [66]. Cash Flow and Investments - The net cash flow from operating activities increased by 73.74% to CNY 385,926,433.59, up from CNY 222,123,385.85 in the previous year [28]. - The company's cash flow from operating activities improved significantly, with a net cash flow of 385.93 million yuan, up 73.74% from the previous year [53]. - The company received CNY 539,000,000.00 from investment recoveries, significantly higher than CNY 150,000,000.00 in the previous year, marking an increase of 259.3% [188]. - Cash inflow from operating activities was ¥1,679,783,820.61, up from ¥1,230,501,262.15, indicating a growth of 36.4% [185]. - The net cash flow from investment activities was -CNY 342,130,729.74, an improvement from -CNY 764,685,569.34 in the previous year [188]. Shareholder Information - The company plans to distribute a cash dividend of 7.80 RMB per 10 shares for the 2014 fiscal year, totaling 186.93 million RMB [88]. - Cumulatively, from 2012 to 2014, the company distributed dividends amounting to 518.89 million RMB, which accounted for 76.39% of the net profit during this period [90]. - The top shareholder, Zhou Xiaoping, holds 103,868,620 shares, representing 43.34% of the total shares [126]. - The total number of shareholders reached 9,980 by the end of the reporting period, an increase from 9,211 prior to the report [124]. - The company has a total of 169,384,500 restricted shares, with 168,635,350 shares released during the year [119]. Operational Highlights - The company successfully launched the "annual production of 500,000 LED car lights and supporting projects," contributing to its strategic expansion [35]. - The company achieved over 20% growth in car light sales revenue, with over 70% of sales coming from joint venture brand vehicle manufacturers [34]. - Research and development expenses increased by 13.12% to CNY 69,463,579.00 in 2014, compared to CNY 61,408,196.36 in 2013 [40]. - The production volume of fog lights increased by 52.48% to 713.72 thousand units, driven by increased supply to major clients such as FAW-Volkswagen and GAC Toyota [42]. - The company is focusing on enhancing R&D capabilities to support product upgrades towards energy-saving, intelligent, and personalized lighting solutions [63]. Risk Management and Compliance - The company has outlined potential risks in its future development strategies, which investors should be aware of [5]. - The company has faced risks including market policy changes and intensified competition in the automotive parts sector [86]. - The company has not faced any penalties or criticisms from the China Securities Regulatory Commission or stock exchanges during the reporting period [109]. - The company has committed to not planning any major asset restructuring within six months from October 8, 2013 [108]. - The company has implemented new accounting standards affecting the presentation of financial statements, changing "foreign currency translation differences" to "other comprehensive income" [110]. Employee and Management Information - The total number of employees in the parent company is 2,736, with a combined total of 2,874 employees across the parent and major subsidiaries [144]. - The company reported a total compensation of 4.54 million yuan for all directors, supervisors, and senior management personnel at the end of the reporting period [143]. - The company has established a comprehensive compensation policy, including annual salary systems for senior management and performance-based pay for other employees [145]. - The management team includes individuals with extensive experience in various roles, contributing to the company's strategic direction [137]. - The company has implemented an incentive plan that allows for the unlocking of restricted shares after 48 months [129]. Future Outlook - The company plans to achieve consolidated revenue of 2.35 billion yuan and a net profit of 320 million yuan in 2015 [84]. - The company is focusing on expanding its product offerings and improving returns for investors [68]. - The company plans to invest in a new project to produce 1 million sets of car lights annually in Jilin Province [155]. - The company aims to enhance management through the implementation of ERP, internal control, and information technology initiatives [84]. - The company is exploring new business opportunities and technologies to ensure sustainable growth and global expansion [83].

Financial Performance - Operating revenue for the first nine months was CNY 1,373,626,984.09, representing a growth of 20.98% year-on-year [9]. - Net profit attributable to shareholders for the first nine months was CNY 177,550,494.30, up 30.59% from the same period last year [9]. - Basic earnings per share increased to CNY 0.7408, reflecting a growth of 30.61% year-on-year [11]. - The weighted average return on net assets rose to 8.98%, an increase of 1.45 percentage points compared to the previous year [11]. - Total revenue increased by 32.23% to ¥203,722,274.42, driven by higher income and reduced expenses [17]. - Net profit rose by 30.67% to ¥177,409,241.32, attributed to increased revenue and lower expenses [17]. - The total profit for the first nine months of 2014 was CNY 205,408,006.33, a 32.49% increase from CNY 155,092,760.74 in the same period last year [37]. - The net profit for Q3 2014 reached CNY 65,992,860.69, up 67.06% from CNY 39,537,088.36 in the same period last year [37]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,929,165,892.63, an increase of 2.98% compared to the end of the previous year [9]. - The total assets as of September 30, 2014, amounted to CNY 2,928,182,720.98, compared to CNY 2,842,742,404.76 at the beginning of the year [29]. - The total liabilities increased to CNY 1,025,946,945.39 from CNY 946,867,342.85 at the start of the year, reflecting a rise of approximately 8.4% [29]. - The company’s long-term investments rose to CNY 114,416,285.84 from CNY 64,421,047.84, marking a substantial increase of 77.7% [28]. Cash Flow - The net cash flow from investment activities improved significantly to CNY 24,900,697.29, a 105.26% increase compared to the previous year [9]. - The company reported a net cash flow from operating activities of CNY 188,790,067.37, a decrease of 2.46% compared to the same period last year [9]. - Cash flow from operating activities for the first nine months of 2014 was CNY 188,790,067.37, slightly down from CNY 193,560,479.06 in the previous year [40]. - The company's operating cash flow for the first nine months of 2014 was CNY 1,454,347,811.08, an increase of 27% compared to CNY 1,147,304,936.25 in the same period last year [43]. - The net cash flow from operating activities was CNY 197,581,390.26, up from CNY 153,284,707.74 in the previous year, reflecting a growth of approximately 29% [44]. - Total cash inflow from investment activities was CNY 575,799,940.89, significantly higher than CNY 14,757,275.58 in the previous year [44]. - The net cash flow from investment activities was CNY 12,776,467.95, a recovery from a negative cash flow of CNY -436,096,687.60 in the same period last year [44]. Shareholder Information - The total number of shareholders reached 10,469 by the end of the reporting period [13]. - The top shareholder, Zhou Xiaoping, holds 43.34% of the shares, totaling 103,868,620 shares [14]. Accounts and Receivables - Accounts receivable increased by 40.32% to ¥204,584,875.77 due to an increase in customer payment proportions [16]. - Prepayments rose by 90.46% to ¥56,643,160.76 primarily due to increased advance payments for molds and equipment [16]. - Other receivables surged by 2704.06% to ¥42,475,648.81 mainly due to advances made to a subsidiary [16]. - Construction in progress increased by 154.07% to ¥212,518,685.78 due to investments in a new LED automotive lighting project [16]. Financing Activities - The company incurred a total cash outflow of CNY 376,831,067.10 from financing activities, compared to CNY 162,336,586.94 in the previous year [45]. - The company received CNY 100,000,000.00 from borrowings during the financing activities, down from CNY 200,000,000.00 in the previous year [45]. - The company reported a net cash outflow from financing activities of CNY -276,831,067.10, compared to a net inflow of CNY 37,663,413.06 in the previous year [45].

Financial Performance - The company achieved operating revenue of CNY 880.15 million in the first half of 2014, representing a 16.66% increase compared to the same period last year[17]. - Net profit attributable to shareholders reached CNY 111.54 million, up 15.72% year-on-year[17]. - The basic earnings per share increased to CNY 0.4654, reflecting a growth of 15.74% compared to the previous year[17]. - The company reported a total revenue of 1,194,690,000 for the first half of 2014, with a net profit of 16,012,397.91[34]. - The total profit for the first half of 2014 was CNY 128,616,840.86, up 19.69% from CNY 107,406,182.78 in the same period last year[75]. - The company’s net profit for the period was RMB 111,542,886.04, reflecting a decrease compared to the previous period[89]. - The net profit attributable to the parent company was approximately RMB 217,816,443, reflecting a decrease of 66.00% compared to the previous year[92]. Revenue and Cost Management - Operating costs increased by 18.98% to CNY 681,088,040.41, primarily due to the rise in sales revenue[22]. - The company plans to achieve a consolidated operating revenue of CNY 1.9 billion for the year, with cost expenses projected at CNY 1.66 billion[25]. - The company has implemented cost control measures through comprehensive budget management and ERP systems, focusing on procurement and process optimization[20]. - The company incurred total operating costs of CNY 681,088,040.41, which is an increase from CNY 572,424,330.56 in the previous year[75]. Asset Management - The total assets decreased by 3.44% to CNY 2.75 billion compared to the end of the previous year[17]. - The total number of shares decreased from 239,689,600 to 239,677,300 due to the repurchase and cancellation of 12,300 restricted shares[52]. - The total current assets as of June 30, 2014, amounted to CNY 1,796,577,595.14, a decrease from CNY 1,959,651,625.92 at the beginning of the year, reflecting a decline of approximately 8.3%[67]. - The company’s total assets at the end of the reporting period were approximately RMB 1,895,511,897, indicating growth in asset base[93]. Investment and Financing Activities - The company reported a significant increase in investment income by 374.56% to CNY 25,143,923.82, due to reclassification of loan business income[23]. - The company has committed a total of RMB 1,274.40 million in fundraising, with RMB 469.77 million utilized in the current reporting period and RMB 769.72 million cumulatively used[38]. - The company has a total of RMB 532.92 million in unused fundraising, which will be allocated for project investment and financial management[38]. - The company has issued entrusted loans totaling 250,000,000.00, unchanged from the beginning of the year[183]. Market Position and Strategy - The company optimized its customer structure, with over 70% of revenue coming from key clients such as FAW-Volkswagen and Shanghai Volkswagen[19]. - The company anticipates a stable automotive market growth of 8%-10% in 2014, which will further strengthen its market position[20]. - The company is set to release new projects, including the production capacity for FAW Toyota Corolla and GAC Toyota Levin, which will enhance profitability[20]. - The company is focusing on enhancing product quality and management to ensure steady growth in annual sales performance[21]. Shareholder and Equity Information - The total number of shareholders reached 10,748 by the end of the reporting period[54]. - The company reported a total of 103,868,620 shares held by the largest shareholder, Zhou Xiaoping, representing a significant ownership stake[55]. - The proportion of limited sale shares decreased from 70.67% to 0.61% after the cancellation of shares[51]. - The company has committed to not transferring or entrusting the management of its shares for a period of 36 months from the date of listing, which began in 2011[47]. Compliance and Governance - The company has no major litigation, arbitration, or media scrutiny during the reporting period[43]. - The company has maintained compliance with all commitments made by its major shareholders and executives, with no penalties or administrative actions reported[49]. - The company has renewed the appointment of Tianheng Accounting Firm for the 2014 financial report audit and internal control audit[48]. - The company has not reported any significant changes in user data or market expansion strategies during the reporting period[47]. Financial Reporting and Accounting Practices - The financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance[106]. - The company assesses the impairment of financial assets at the end of the reporting period and recognizes impairment losses when objective evidence indicates a decline in value[118]. - The company utilizes fair value measurement for financial assets and recognizes gains or losses in the current period[117]. - The company recognizes government grants related to income as deferred revenue, which is recognized in profit or loss when the related expenses are incurred[148].

Financial Performance - Net profit attributable to shareholders increased by 19.61% to CNY 52,701,412.96 for the first quarter[13] - Operating revenue for the first quarter rose by 16.08% to CNY 429,852,056.90 compared to the same period last year[13] - The company reported a net profit excluding non-recurring gains and losses of CNY 48,975,197.82, an increase of 11.77% year-on-year[13] - Basic earnings per share rose by 19.64% to CNY 0.2199 per share[13] - Total operating revenue for the first quarter of 2014 reached ¥429,852,056.90, an increase of 16.0% compared to ¥370,290,849.72 in the same period last year[29] - Net profit attributable to the parent company was ¥52,701,412.96, up 19.0% from ¥44,061,350.61 year-on-year[30] - The company reported an operating profit of ¥61,714,223.24, up 19.5% from ¥51,493,837.46 in the same quarter last year[29] - Total comprehensive income increased to ¥53,446,903.61 from ¥44,479,623.55, representing a growth of approximately 20% year-over-year[32] Asset and Liability Changes - Total assets increased by 2.35% to CNY 2,911,345,864.07 compared to the end of the previous year[13] - The company's total assets amounted to ¥2,910,594,999.90, compared to ¥2,842,742,404.76 at the beginning of the year, reflecting an increase of 2.4%[26] - Total liabilities increased to ¥960,475,124.83, up from ¥946,867,342.85, representing a rise of 1.1%[26] - The company's equity attributable to shareholders reached ¥1,950,119,875.07, an increase of 2.8% from ¥1,895,875,061.91[26] - Current liabilities totaled CNY 1,066,000,000.00, with accounts payable decreasing to CNY 308,990,411.64 from CNY 344,002,791.80, a reduction of about 10.2%[21] Cash Flow Analysis - The net cash flow from operating activities increased by 18.89% to CNY 46,610,868.46 year-on-year[13] - Cash inflow from operating activities reached ¥307,041,159.44, up from ¥161,316,769.06, indicating an increase of about 90%[33] - Net cash flow from operating activities was ¥46,610,868.46, an increase from ¥39,203,564.07, showing a growth of about 19%[34] - Cash inflow from sales of goods and services was ¥291,622,157.86, compared to ¥135,039,619.90, marking an increase of about 116%[38] - Cash outflow for purchasing goods and services was ¥151,548,796.46, compared to ¥43,636,821.18, reflecting a rise of approximately 247%[34] - Total cash outflow for operating activities was ¥247,124,726.75, up from ¥122,689,096.69, reflecting an increase of approximately 102%[38] - Net cash flow from investing activities decreased significantly by 877.20% to -¥131,691,482.90 due to increased investments in production capacity[15] - Cash inflow from investment activities totaled ¥437,761,439.24, significantly higher than ¥1,056,282.51 from the previous period[35] Shareholder Information - The total number of shareholders as of the report date was 8,833[12] - The largest shareholder, Zhou Xiaoping, holds 43.33% of the shares, totaling 103,868,620 shares[12] Operational Costs and Expenses - The total operating costs for the first quarter were ¥383,459,784.11, which is an increase of 20.3% from ¥318,797,012.26 year-on-year[29] - Sales expenses rose by 34.60% to ¥18,753,654.36 in line with increased sales and transportation costs[15] - Financial expenses surged by 119.22% to ¥2,218,970.88 due to interest income from bank wealth management products being reclassified[15] - Sales tax and surcharges increased by 65.82% to ¥2,682,797.53 due to higher sales this quarter[15] Inventory and Receivables - Accounts receivable increased by 99.17% to ¥290,394,292.64 primarily from the increase in customer bank acceptance bills[15] - Inventory levels rose to CNY 376,832,432.78 from CNY 370,750,746.60, indicating an increase of approximately 1.6%[20] - The inventory level increased slightly to ¥370,563,182.60 from ¥364,342,394.74, reflecting a growth of 1.2%[25] Company Commitments - The company has committed to not engaging in any major asset restructuring or significant financial activities for six months following the announcement on October 8, 2013[17] - The company has maintained its commitment to not occupy company funds, ensuring financial integrity and stability[17] - The company has pledged to continue its contributions to employee social insurance and housing funds, ensuring compliance with regulatory requirements[17]

Financial Performance - The company achieved a net profit of CNY 217,703,593.70 for the year 2013, representing a 15.38% increase compared to the previous year[7]. - Operating revenue for 2013 was CNY 1,632,303,141.42, an increase of 23.83% from CNY 1,318,161,828.34 in 2012[22]. - The basic earnings per share for 2013 was CNY 0.9087, reflecting a 15.32% increase from CNY 0.7880 in 2012[21]. - The company's total assets grew by 22.16% to CNY 2,844,537,752.33 at the end of 2013, compared to CNY 2,328,450,731.28 at the end of 2012[22]. - The weighted average return on equity increased to 11.90% in 2013, up from 10.65% in 2012, marking an increase of 1.25 percentage points[21]. - The company's net profit margin for the year was approximately 12.43%, calculated from the net profit of ¥203 million against total revenue of ¥1.632 billion[43]. - The company reported a total revenue of 51,000,000 in 2013, with a net profit of 223,841.10[58]. - The company achieved a total asset of 2.844 billion yuan and a revenue of 1.632 billion yuan, representing a year-on-year growth of 23.83%[83]. - The net profit for 2013 was 217 million yuan, an increase of 15.38% compared to the previous year[83]. Cash Flow and Investments - The net cash flow from operating activities increased by 692.50%, reaching CNY 222,123,385.85, primarily due to increased cash collections from sales and reduced cash payments to suppliers[21]. - The company reported a net cash outflow from investment activities of ¥761,770,461.74, a 114.02% increase compared to the previous year, mainly due to increased purchases of financial products and entrusted loans[41]. - The company’s cash and cash equivalents decreased by 41.07% to ¥544,941,363.69, primarily due to the purchase of bank wealth management products and increased cash payments for fixed assets[49]. - The company reported cash inflow from investment activities was CNY 202,398,621.01, a substantial increase from CNY 15,754,501.98 in the previous period[161]. - The ending cash and cash equivalents balance was CNY 366,498,931.67, down from CNY 873,250,847.20 in the previous period[162]. Research and Development - The company completed 64 new projects and transitioned 68 projects to mass production in 2013, showcasing its R&D capabilities[25]. - R&D expenditure for the year was RMB 61,408,196.36, accounting for 3.76% of total revenue[38]. - The company has developed a comprehensive R&D system over 20 years, focusing on both foundational and cutting-edge technologies in headlight design[55]. Market and Product Development - The company continues to focus on the development of LED automotive lighting systems, with no significant changes in its main business since its listing[19]. - The company plans to complete the "annual production of 500,000 sets of LED car lights" project by June 2014, enhancing its production capacity[29]. - The company is expanding its product offerings from A-class to B-class vehicles, indicating a strategic shift in market focus[51]. - The company is focusing on expanding its customer base while enhancing the proportion of new technology products, such as LED lights, in its sales[76]. Financial Management and Governance - The company has committed to using its own funds for entrusted financial management, with a projected return of CNY 7.5 million from a loan of CNY 100 million at a 7.5% interest rate[63]. - The company has disclosed its fundraising usage and management in compliance with regulatory requirements, with detailed reports available on the Shanghai Stock Exchange[64]. - The company has maintained a strict adherence to its commitments during the reporting period[93]. - The company has implemented a stock incentive plan, with 761,950 restricted stocks granted, indicating a focus on employee motivation and retention[92]. Shareholder Structure and Equity - The total number of shares was 239,689,600, with 70.67% being restricted shares and 29.33% being unrestricted shares[97]. - The largest shareholder, Zhou Xiaoping, holds 43.33% of the shares, totaling 103,868,620 shares, with no change during the reporting period[104]. - The company’s shareholder structure indicates a significant concentration of ownership among a few key individuals and entities, which may impact governance and strategic decisions[104]. - The company’s total share capital decreased by 67,400 shares due to the cancellation of restricted shares[98]. Social Responsibility and Compliance - The company actively participated in social responsibility initiatives while achieving economic benefits, paying 113 million yuan in taxes in 2013[83]. - The company has maintained a strong commitment to environmental management, with no pollution incidents or administrative penalties reported during the year[85]. - The company has engaged in various employee cultural activities, which have been positively received and recognized by local organizations[88]. Employee Management - The total number of employees in the parent company is 2,419, with a combined total of 2,478 employees including major subsidiaries[120]. - The company has established a comprehensive compensation policy, including annual salary systems for senior management and piece-rate systems for frontline production staff[121]. - The total remuneration for the reporting period for the directors and senior management amounted to 314.7 million yuan before tax[111]. Audit and Internal Control - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2013[140]. - The company emphasized the importance of internal control systems to ensure compliance, asset security, and the accuracy of financial reporting[138]. - The company has appointed Tianheng Accounting Firm for auditing services with a fee of 50,000 RMB for the year[95].