Financial Performance - The company's operating revenue for Q1 2014 was CNY 420,221,711.40, a decrease of 47.8% compared to CNY 804,992,609.03 in the same period last year[8] - The net profit attributable to shareholders was CNY 51,908,025.95, down 57.26% from CNY 121,458,672.13 year-on-year[8] - Operating revenue decreased by 47.80% to ¥420,221,711.40 compared to the previous period[20] - Operating costs decreased by 45.26% to ¥301,960,203.01 compared to the previous period[20] - Sales expenses decreased by 63.01% to ¥5,497,524.97 due to reduced income recognition from the subsidiary[20] - Income tax expenses decreased by 52.88% to ¥19,187,439.46 due to reduced income and profit recognition from the subsidiary[21] Cash Flow - The net cash flow from operating activities increased significantly by 1,027.62%, reaching CNY 185,352,845.65, compared to a negative cash flow of CNY 19,981,545.97 in the previous year[8] - Net cash flow from operating activities increased by 1027.62% to ¥185,352,845.65 due to an increase in advance payments for housing[21] - Net cash flow from financing activities increased by 41.86% to -¥11,997,416.64 due to reduced payments for financing leases[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,712,531,798.99, reflecting a 3.42% increase from CNY 3,589,601,223.16 at the end of the previous year[8] - The net assets attributable to shareholders increased by 2.56% to CNY 2,108,131,800.60 from CNY 2,055,577,799.65 at the end of the previous year[8] - The company’s accounts receivable increased by 486.54% compared to the beginning of the year, primarily due to increased credit limits for reliable customers[17] - Other current liabilities decreased by 100% to ¥0, indicating a significant reduction in liabilities[20] Expenses and Impairments - Operating costs decreased by 45.26% compared to the previous year, attributed to reduced costs corresponding to the lower revenue recognized by the subsidiary[17] - The company reported a 70.56% decrease in business taxes and additional charges, linked to the reduced revenue recognized by the subsidiary[17] - Financial expenses increased by 104.54% to ¥219,468.88 primarily due to decreased interest income[21] - Asset impairment losses increased by 104.25% to ¥157,087.31 due to an increase in receivables and corresponding bad debt provisions[21] Shareholder and Investor Communications - The total number of shareholders at the end of the reporting period was 43,942[10] - The company discussed its profit distribution plan during investor communications on January 8, 2014[33] - The company provided updates on the Shudu Center's status in communications on January 20, 2014[33] - The company reported on its spandex production situation during discussions on January 23 and February 24, 2014[33] - Overall business performance was addressed in a call on February 11, 2014[33] - The company reviewed its annual report during the call on March 3, 2014[33] - Shareholder meeting details were shared in a communication on March 18, 2014[33] Return on Assets - The weighted average return on net assets was 2.49%, down 4.57% from 7.06% in the previous year[8] - Fair value changes in financial assets increased by 40% to ¥157,780.98 due to changes in the fair value of trading financial assets[21]

Dividend and Capital Management - The company plans to distribute a cash dividend of 8.00 RMB per 10 shares to all shareholders, based on the total share capital as of December 31, 2013[4]. - The company will increase its capital reserve by converting 5 shares for every 10 shares held by shareholders[4]. - The company declared a cash dividend of CNY 327,106,314.40 for the fiscal year 2013, which represents 100% of the total profit distribution[100]. - The cash dividend per 10 shares is CNY 8.00 (including tax), with a total of 408,882,893 shares as the base for distribution[100]. - The company reported a net profit attributable to shareholders of CNY 396,316,954.72 for 2013, resulting in a dividend payout ratio of 82.54%[100]. - The company is in a mature development stage and aims to maintain a minimum cash dividend ratio of 40% during profit distributions[100]. Business Focus and Development - The company reported a significant change in its main business focus, now emphasizing the sale of new textile and packaging materials, real estate development, and property management[18]. - The company is involved in the development of the "Shudu Center" urban complex project through its subsidiary, Chengdu Shudu Yintai Real Estate Co., Ltd[8]. - The company has undergone a change in its controlling shareholder, with Jiangsu Shuangliang Technology Co., Ltd becoming the major shareholder[18]. - The company plans to continue leveraging market opportunities and enhancing corporate governance to improve operational performance[31]. - The company aims to strengthen its core technology in amine fiber production and enhance product differentiation to improve profitability and market competitiveness[85]. - The strategic focus includes expanding real estate development to create new profit growth points while managing risks effectively[85]. Financial Performance - The company achieved operating revenue of CNY 2,765,797,531.32 in 2013, representing a 78.04% increase compared to 2012[21]. - The net profit attributable to shareholders reached CNY 396,316,954.72, a significant increase of 790.83% year-on-year[21]. - The net cash flow from operating activities was CNY 305,047,395.81, reflecting a 526.03% increase from the previous year[21]. - The company achieved total revenue of CNY 276,579.75 million, representing a year-on-year increase of 78.04%[36]. - Real estate business revenue reached CNY 147,888.06 million, a significant increase of 214.37% compared to the previous year[38]. - Net profit for the period was CNY 35,845.84 million, reflecting a year-on-year growth of 301.01%[39]. Production and Sales - The company produced 30,497.30 tons of spandex and covered yarn in 2013, marking a 17.99% growth compared to the previous year[32]. - The spandex business generated revenue of CNY 118,276.63 million, up 23.50% year-on-year, with a net profit of CNY 8,617.06 million, an increase of 276.11%[33]. - The company sold 29,636.05 tons of chemical fiber, an increase of 15.07% from the previous year[37]. - The inventory of spandex and covered yarn products rose to 2,160.04 tons, up 46.07% year-on-year[37]. Risk Management and Compliance - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future plans and strategies[11]. - The company has committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming the integrity of the annual report[4]. - The company’s financial report is subject to review by Tianheng Accounting Firm, ensuring compliance with regulatory standards[4]. - The company has completed all six corrective actions required by the Sichuan Regulatory Bureau following an administrative penalty for non-compliance[104]. - The company received a regulatory notice from the Sichuan Securities Regulatory Bureau regarding several compliance issues, requiring corrective actions by August 30, 2013[137]. Corporate Governance - The company has a governance structure that complies with the requirements of the China Securities Regulatory Commission[180]. - The company strictly follows regulations for shareholder meetings and ensures equal treatment of all shareholders[181]. - The board of directors includes members with various roles, such as chairman, vice chairman, and directors, with some receiving remuneration[169]. - The company has established a compensation and assessment committee to propose remuneration policies for senior management[170]. - The audit committee played a crucial role in internal control and financial risk management, reviewing related transactions and ensuring compliance in major projects[195]. Future Outlook and Strategy - The company forecasts a substantial decrease in net profit for Q1 2014, estimating a drop of 65.42% compared to the previous year, primarily due to reduced sales from the "Shudu Center" project[81]. - The company plans to invest CNY 210,500,000 in the "Shudu Center" project, with 85.91% of the project completed and cumulative revenue recognized at CNY 194,577,010[80]. - The company anticipates risks from a sluggish market, which may impact the demand for spandex products and slow the recovery of sales prices[89]. - The management team emphasized the importance of sustainability in their future strategies, aiming for a 50% reduction in carbon emissions by 2025[162]. - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[162].