Financial Performance - Operating revenue for the reporting period reached CNY 208,177,270.86, a year-on-year increase of 38.21%[8] - Net profit attributable to shareholders was CNY -465,240.93, a decrease of 59.89% compared to the same period last year[8] - The basic earnings per share for the reporting period was CNY -0.0016, a decrease of 60.98% year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -675,588.63, a decrease of 43.73% year-on-year[8] - The company reported a total of CNY 626,716.76 in non-recurring gains and losses for the year-to-date[9] - The weighted average return on net assets was -0.17%, an increase of 0.24 percentage points compared to the previous year[8] Asset and Liability Changes - Total assets increased by 54.08% to CNY 1,126,836,165.80 compared to the end of the previous year[8] - Cash and cash equivalents decreased by 67.24% to ¥24,226,727.34 due to increased procurement payments[15] - Accounts receivable increased by 141.70% to ¥392,228,009.22 driven by increased operating revenue[15] - Long-term borrowings rose by 264.98% to ¥592,800,000.00 as the company secured new bank loans for operational development[15] - Prepayments surged by 2044.76% to ¥289,183,823.35 reflecting new trade prepayments[15] - Financial expenses increased by 55.19% to ¥26,200,025.63 due to interest expenses from new bank loans[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,827, with 16,340 being A-share shareholders[11] - Wuhan Zhongheng New Technology Industry Group Co., Ltd. held 41.14% of the shares, amounting to 116,489,894 shares, all of which are pledged or frozen[11] Cash Flow and Income - The net cash flow from operating activities was CNY -383,919,788.32, reflecting a significant decline of 860.38%[8] - The company reported a 32.91% decrease in cash received from sales of goods and services, totaling ¥254,875,585.83[15] Strategic Initiatives - The company is actively planning a non-public stock issuance to optimize its industrial structure and improve financial performance[16] - The leasing income from the company's property is expected to remain close to previous normal levels despite new lease agreements having rent-free periods[16] Investment Activities - The company has not held any securities investments during the reporting period[18] - The company has not engaged in any derivative investments during the reporting period[19]

Financial Performance - The company achieved operating revenue of CNY 366,621,826.36, representing a 21.10% increase compared to the same period last year[17]. - Net profit attributable to shareholders decreased by 26.02% to CNY 1,455,936.93[17]. - The net profit after deducting non-recurring gains and losses fell by 63.11% to CNY 1,039,567.88[17]. - The net cash flow from operating activities was negative at CNY -188,587,686.53, a decline of 560.37% compared to the previous year[17]. - Total assets increased by 62.39% to CNY 1,187,640,332.71 compared to the end of the previous year[17]. - The company's operating revenue for the current period is $366.62 million, representing a year-over-year increase of 21.10% compared to $302.73 million in the same period last year[25]. - Operating costs increased by 24.06% to $326.92 million from $263.51 million year-over-year[25]. - The net cash flow from operating activities decreased significantly by 560.37%, resulting in a net outflow of $188.59 million due to reduced sales collections and increased prepaid expenses[25]. - The net cash flow from financing activities surged by 957.95% to $424.89 million, attributed to new bank loans for business development[25]. - The net increase in cash and cash equivalents reached $233.52 million, a dramatic rise of 2,958.31% compared to $7.64 million in the previous year[25]. Segment Performance - The injection molding division reported revenue of CNY 14,551,000, up 28.32% year-on-year[22]. - The polystyrene division achieved revenue of CNY 4,155,000, an increase of 12.07% compared to the previous year[22]. - The video communication division generated revenue of CNY 14,067,000, reflecting a 5.34% year-on-year growth[22]. - The property leasing business recorded revenue of CNY 1,839,000, a 12.30% increase from the same period last year[23]. Shareholder Information - The company reported a total of 24,909 common shareholders at the end of the reporting period[58]. - Wuhan Zhongheng Group holds 41.14% of the company's shares, totaling 116,489,894 shares, with no changes during the reporting period[58]. - The company has not proposed or implemented any share increase plans by shareholders during the reporting period[61]. - The company has not issued or listed any preferred shares during the reporting period[64]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[66]. - The company has not completed the transfer of shares from Wuhan Zhongheng Group to Huaxin Industrial, which will change the controlling shareholder[54]. Cash Flow and Liquidity - The company's cash and cash equivalents increased to ¥288,085,880.50 from ¥54,251,456.20, representing a growth of approximately 431.5%[72]. - Accounts receivable rose significantly to ¥370,534,892.45 from ¥162,278,705.83, marking an increase of about 128.5%[72]. - Total current assets reached ¥902,754,042.75, up from ¥441,132,413.34, indicating a growth of approximately 104.5%[72]. - The company's total liabilities rose to ¥912,520,746.31 from ¥457,684,850.39, which is an increase of about 99.2%[74]. - Long-term borrowings surged to ¥600,000,000.00 from ¥162,418,800.00, representing a significant increase of approximately 269.5%[74]. - The company's total equity slightly increased to ¥275,119,586.40 from ¥273,663,649.47, showing a marginal growth of about 0.5%[74]. Related Party Transactions - The total amount of related party transactions during the reporting period was approximately 228.32 million yuan[38]. - The company provided guarantees totaling 50 million yuan, with actual guarantees during the reporting period amounting to 12.8 million yuan[45]. - The actual guarantee balance at the end of the reporting period was 10.54 million yuan, which is 38.30% of the company's net assets[45]. - There were no significant related party transactions involving asset acquisitions or joint investments during the reporting period[39][40]. - The company did not have any non-operating related party debts during the reporting period[41]. Strategic Initiatives - The company plans to continue enhancing product quality and optimizing production processes to maintain competitive advantages in the market[22]. - The company plans to sell the "Yutian • Happy Sea" real estate project to maintain long-term interests, as part of a commitment change approved in May 2014[50]. - The company has established a stable long-term cooperation relationship with major production enterprises in Wuhan, enhancing its competitive advantage in the region[28]. Financial Health and Risks - The overall financial health of the company showed signs of strain, with a focus on addressing the accumulated losses moving forward[106]. - The company has no penalties or rectifications during the reporting period[52]. - There is no risk of delisting due to violations during the reporting period[52]. - The company has not engaged in any significant contracts or transactions outside of the mentioned related party transactions[47][48]. Accounting Policies and Practices - The financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance[110]. - The company maintains its accounting policies without any changes reported during the period[104]. - The company recognizes financial assets at fair value upon entering into a financial instrument contract[125]. - The company assesses the net realizable value of inventory, recognizing impairment when costs exceed expected recoverable amounts due to damage or obsolescence[141]. Taxation and Regulatory Compliance - The corporate income tax rate applicable to the company and its subsidiaries is 25%[191]. - The value-added tax (VAT) rate for domestic sales is 17%, with input VAT on raw materials being deductible[192]. - The company applies a 5% business tax rate on leasing income[195]. - The company’s real estate tax is calculated based on 70% of the property’s original value at a rate of 1.2%[197]. - The company’s urban maintenance and construction tax is based on the turnover tax amount at a rate of 7%[196].

Financial Performance - The company's operating revenue for 2013 was ¥626,821,044.64, a decrease of 13.41% compared to ¥723,891,496.54 in 2012[21]. - The net profit attributable to shareholders for 2013 was -¥6,517,401.44, representing a decline of 301.04% from ¥3,241,897.70 in 2012[21]. - The net cash flow from operating activities was -¥69,353,440.38, a significant decrease of 476.53% compared to ¥18,419,090.98 in the previous year[21]. - The basic earnings per share for 2013 was -¥0.023, a decline of 301.75% from ¥0.0114 in 2012[21]. - The weighted average return on equity was -2.35%, a decrease of 3.51 percentage points from 1.16% in 2012[21]. - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY 49,544,183.56, reflecting a 560.92% increase compared to the previous year[42]. - The company reported a net profit of -6,517,401.44 CNY for 2013, indicating a negative retained earnings situation[60]. - The company reported a net loss of CNY 6,517,401.44, compared to a net profit of CNY 3,241,897.70 in the previous year, indicating a significant decline in profitability[151]. - The total owner's equity at the end of the current period is 280,181,050.91 CNY, a decrease from the previous year's total of 268,289,527.28 CNY[166]. Revenue Breakdown - Injection molding business generated revenue of CNY 244.09 million, an increase of 26% compared to the previous year[31]. - Polystyrene business revenue reached CNY 76.83 million, up 21% year-on-year[31]. - LCD display business revenue fell to CNY 264.17 million, a decrease of approximately 37%[32]. - Property leasing revenue was CNY 33.27 million, down about 14% due to challenges in attracting tenants[32]. - The total revenue from display devices was CNY 264,167,431.84, a decrease of 36.81% year-on-year, with a gross margin of 2.88%[44]. Assets and Liabilities - The total assets at the end of 2013 amounted to ¥731,348,499.86, an increase of 7.29% from ¥681,645,093.97 at the end of 2012[21]. - The total liabilities increased to RMB 457,684,850.39 from RMB 401,464,043.06, representing a rise of about 14.0%[145]. - The company's total equity decreased to CNY 264,828,077.42 from CNY 268,289,527.28, a decline of 1.7%[149]. - Short-term loans increased to CNY 162,140,601.13, representing 22.17% of total assets, an increase of 6.08% from the previous year[48]. Cash Flow - The cash inflow from operating activities was CNY 408,744,234.62, a decrease of 44.4% from CNY 734,514,147.17 in the previous year[156]. - The total cash inflow from financing activities was 488,889,296.63 CNY, while the cash outflow was 457,333,878.70 CNY, resulting in a net cash flow of 31,555,417.93 CNY[158]. - The cash and cash equivalents at the end of the period amounted to 50,704,319.86 CNY, down from 100,248,503.42 CNY at the beginning of the period[158]. Shareholder Information - The company reported a total of 26,022 shareholders at the end of the reporting period, an increase from 25,751 in the previous period[75]. - Wuhan Zhongheng Group holds 41.14% of the company's shares, amounting to 116,489,894 shares, which are currently pledged[75]. - The company has not distributed any cash dividends in the last three years due to negative retained earnings[60]. Corporate Governance - The board of directors consists of 7 members, with 3 independent directors, meeting the requirement of having more than one-third independent representation[106]. - The company has implemented a strict insider information management system to prevent insider trading, with no violations reported during the reporting period[110]. - The annual shareholders' meeting approved all proposed resolutions, including the financial budget for 2013 and the profit distribution plan for 2012[111]. Internal Control and Audit - The company maintained a standard unqualified audit opinion for its financial statements for the year 2013[134]. - No significant internal control deficiencies were found during the reporting period, indicating effective internal controls[129]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2013[130]. Employee Information - The total number of employees at the end of the reporting period was 1,047, with no retired personnel requiring expense coverage[97]. - The educational background of employees shows that 86.15% hold a bachelor's degree, 9.17% have an associate degree, and only 0.19% are master's or graduate students[101]. - Production personnel accounted for 76.98% of the workforce, while sales personnel made up 2.01%[98]. Business Strategy and Future Outlook - The company plans to expand its industrial business orders by maintaining existing partnerships and acquiring new clients, targeting brands like Gree and TCL[55]. - The company will focus on the development and promotion of new products while controlling costs to diversify its product line[55]. - The company is facing risks from the real estate market adjustment and plans to broaden financing channels to mitigate these risks[57].

证券代码：000020、200020 证券简称：深华发Ａ、深华发Ｂ 公告编号：2014-12 深圳中恒华发股份有限公司 2014 年第一季度报告正文 1 深圳中恒华发股份有限公司 2014 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 深圳中恒华发股份有限公司 2014 年第一季度报告正文 公司负责人李中秋、主管会计工作负责人曹丽及会计机构负责人(会计主管 人员)吴爱洁声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 陈志刚 董 事 事务繁忙 李中秋 深圳中恒华发股份有限公司 2014 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | ...

Financial Performance - The company's operating revenue for 2013 was ¥626,821,044.64, a decrease of 13.41% compared to ¥723,891,496.54 in 2012[25]. - The net profit attributable to shareholders for 2013 was -¥6,517,401.44, representing a decline of 301.04% from ¥3,241,897.70 in 2012[25]. - The net cash flow from operating activities was -¥69,353,440.38, a significant decrease of 476.53% compared to ¥18,419,090.98 in the previous year[25]. - The basic earnings per share for 2013 was -¥0.023, down 301.75% from ¥0.0114 in 2012[25]. - The total operating profit for the year was -3,809,064.27 CNY, compared to -270,331.07 CNY in the previous year, indicating a significant decline[179]. - The net profit for the year was -3,461,449.86 CNY, a stark contrast to the net profit of 113,766.57 CNY from the previous year[179]. - The total comprehensive income for the year was -3,461,449.86 CNY, reflecting a significant downturn compared to the previous year's comprehensive income of 113,766.57 CNY[179]. Assets and Liabilities - Total assets at the end of 2013 amounted to ¥731,348,499.86, an increase of 7.29% from ¥681,645,093.97 at the end of 2012[25]. - The company's total assets increased to CNY 499,974,927.16 from CNY 469,316,681.75, reflecting a growth of 6.4%[170]. - Total liabilities rose to CNY 235,146,849.74, up from CNY 201,027,154.47, marking an increase of 17%[170]. - The company’s cash and cash equivalents decreased to RMB 54,251,456.20 from RMB 112,834,841.39, representing a decline of approximately 52.1%[161]. - Short-term borrowings increased significantly to RMB 162,140,601.13 from RMB 109,694,640.00, marking an increase of about 47.5%[163]. Revenue Breakdown - The injection molding business achieved a revenue of 244.09 million yuan, an increase of 26% compared to the previous year[35]. - The polystyrene business generated a revenue of 76.83 million yuan, up 21% year-on-year[35]. - The liquid crystal display business saw a revenue drop to 264.17 million yuan, a decrease of approximately 37% compared to the previous year[36]. - The property leasing business reported a revenue of 33.27 million yuan, down about 14% year-on-year due to challenges in attracting tenants[36]. - The total revenue from the display segment was CNY 264,167,431.84, reflecting a 36.81% decrease year-on-year, while the injection molded parts segment saw a 26.14% increase in revenue to CNY 244,090,890.04[50]. Customer and Supplier Concentration - The company’s top five customers accounted for 89.28% of total annual sales, with the largest customer contributing 38.39%[41]. - The top five suppliers accounted for 83.98% of the total annual procurement, with the largest supplier contributing 38.87%[44]. Operational Challenges - The company faced significant risks as detailed in the board report, which should be noted by investors[14]. - The sales volume of displays decreased by 40%, from 840,765 units to 502,233 units[40]. - The sales volume of injection molded parts increased by 35%, from 9,158.28 units to 12,353.58 units[40]. Strategic Initiatives - The company is focusing on product innovation and development in response to market pressures, particularly in the display sector[36]. - The company plans to enhance its industrial business by expanding new customer orders and maintaining existing partnerships with major clients like 冠捷 and 海尔[62]. - The company aims to accelerate the leasing of its properties, particularly 华发大厦, to stabilize tenant relationships and increase rental income[62]. - The company is focusing on urban renewal projects, particularly in 光明新区, with plans to initiate construction within two years[62]. Shareholder and Governance - The company has a major shareholder, Wuhan Zhongheng Group, holding 41.14% of shares, totaling 116,489,894 shares, with no changes during the reporting period[86]. - The company has appointed Xinyong Zhonghe Accounting Firm for 8 consecutive years, with an audit fee of 480,000 RMB for the current period[80]. - The board of directors consists of 7 members, including 3 independent directors, meeting the requirement of having more than one-third independent representation[120]. - The company maintains complete operational independence from its controlling shareholder, Wuhan Zhongheng Group, in business, personnel, assets, and finance[138]. Research and Development - The company is committed to increasing its R&D efforts for new products while controlling costs and expanding its product lines[62]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing product efficiency[107]. Future Outlook - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach approximately 1.32 billion RMB[107]. - New product launches are expected to contribute an additional 200 million RMB in revenue in the upcoming year[107]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[107]. Compliance and Internal Control - The company maintained effective internal control over financial reporting as of December 31, 2013, with no significant internal control deficiencies reported during the evaluation period[146]. - The internal control audit report confirmed that the company maintained effective internal controls in all material respects as of the reporting date[147]. - The company has not experienced any significant accounting errors or omissions during the reporting period, adhering strictly to its established disclosure responsibility system[149].