Financial Performance - The company's operating revenue for 2013 was CNY 2,776,957,460.28, representing a 47.2% increase compared to CNY 1,886,509,459.79 in 2012[18]. - The net profit attributable to shareholders for 2013 was CNY 480,127,692.12, a 10.86% increase from CNY 433,090,407.62 in 2012[19]. - The total assets at the end of 2013 amounted to CNY 8,076,093,413.78, reflecting a 54.8% increase from CNY 5,217,160,690.20 at the end of 2012[19]. - The basic earnings per share for 2013 were CNY 0.65, up 10.17% from CNY 0.59 in 2012[19]. - The company reported a net cash flow from operating activities of CNY -204,524,340.52, a significant decrease of 134.5% compared to CNY 592,891,844.80 in 2012[19]. - The company achieved a gross profit margin of 39.93% in 2013, reflecting a slight decrease from the previous year[34]. - Real estate sales revenue reached CNY 2,665,747,833.81, an increase of 40.19% compared to the previous year[35]. - The company reported a total cost of sales of CNY 2,256,219,521.74, which is a 45.7% increase from CNY 1,548,313,255.36[178]. - The net profit for the year was reported at CNY 480.12 million, a decrease of 25.96% compared to the previous year[191]. Business Operations - The company’s main business includes real estate development, domestic trade, and asset management[9]. - The company completed sales of 82,000 square meters of real estate projects, generating a contract sales amount of CNY 2.008 billion during the reporting period[22]. - The company successfully acquired a land parcel in Shanghai for CNY 760 million, with a land area of 199,810.80 square meters and a planned construction area of 201,808.90 square meters[23]. - The company added a total of 288,415.80 square meters of land area and 475,656.90 square meters of construction area through various means during the reporting period[23]. - The company completed the construction of several projects in 2013, including "Shanghai Sanxiang Haishang City" with a completion area of approximately 127,500 square meters[24]. - The company is in the design phase for several projects, including "Sanxiang Forest Haishang City" and "Haishang Black Forest"[25]. - The company has established a new subsidiary, Shanghai Xiangding Real Estate Co., Ltd., for the development of a leisure residential community in Chongming County, Shanghai[42]. Risk Management - The company has detailed potential risk factors that may impact future development in the board report[5]. - The company recognizes the risks of policy changes affecting market demand and project development, which could impact profitability[55]. - The company has implemented a complete internal control system to ensure the safety and integrity of its assets[160]. Corporate Governance - The company has a total of 9 directors, with 7 present at the board meeting that approved the annual report[4]. - The company emphasizes the importance of the accuracy and completeness of the financial report, with key personnel responsible for its integrity[4]. - The internal control system was fully implemented in September 2013, enhancing management efficiency[25]. - The company has established a governance structure that complies with the Company Law and the Securities Law, ensuring equal treatment of all shareholders[150]. - The independent directors have actively participated in board meetings, with no objections raised against any proposals during the reporting period[154]. Shareholder Information - The company reported a plan not to distribute cash dividends or issue bonus shares for the year[4]. - As of December 31, 2013, the company reported an unremitted loss of CNY 1,286,897,895.72, preventing cash dividends to shareholders[56]. - The total number of shares outstanding is 738,690,925, with 81.62% being restricted shares[116]. - The largest shareholder, Shanghai Sanxiang Investment Holding Co., Ltd., holds 44.64% of the shares, totaling 329,779,527 shares[119]. - The total number of shareholders at the end of the reporting period is 20,709[119]. Future Plans - The company plans to expand its market presence through new investments and project developments in 2014[41]. - The company aims to maintain a balanced focus on residential development to meet rigid and improved housing demands while also promoting fully decorated housing[49]. - The company plans to enhance its green technology real estate development by integrating advanced European design concepts and technologies, focusing on solar energy and indoor air purification systems[49]. - The company plans to engage in non-public stock issuance to fund the Sanxiang Haishang City and Hongqiao Sanxiang Plaza projects[48]. - The company is exploring potential mergers and acquisitions to enhance its portfolio, with a focus on complementary businesses in the real estate sector[130]. Financial Advisory and Audit - The financial report for 2013 received a standard unqualified audit opinion from Tianzhi International Accounting Firm[4]. - The company paid a total of 105,000 CNY to Tianzhi International Accounting Firm for audit services during the reporting period[107]. - The company engaged Qilu Securities as a financial advisor for the acquisition of a 99% stake in Zhongying Real Estate, with a total advisory fee of 150,000 CNY[109]. Employee Information - The company employed a total of 888 staff members, with 463 in the real estate development system and 425 in the property management system[140]. - The educational background of employees in the real estate development system includes 137 with below college education, 177 with college degrees, 135 with bachelor's degrees, and 14 with master's degrees[141]. - The company has made no significant changes to its core technical team or key technical personnel during the reporting period[139]. Environmental Commitment - The company is focusing on green technology development, aiming to integrate energy-saving and environmentally friendly practices into all project details[54]. - The company has been recognized as one of the top 10 green real estate developers in 2013, highlighting its commitment to sustainable development[58]. - The company has developed a third-generation solar energy integration technology for high-rise buildings, which has received six national patents and significantly improves energy efficiency and aesthetics[61].