Financial Performance - The company's operating revenue for Q1 2015 was ¥412,608,781.57, a decrease of 5.73% compared to ¥437,667,848.38 in the same period last year[8] - Net profit attributable to shareholders was ¥10,517,926.04, representing an increase of 3.83% from ¥10,130,206.04 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥9,771,840.89, up 28.26% from ¥7,618,503.23 in the previous year[8] - The net cash flow from operating activities was -¥14,286,359.21, a decline of 11.78% compared to -¥12,780,854.96 in the same period last year[8] - The weighted average return on net assets was 0.87%, slightly up from 0.84% in the previous year[8] - The company expects net profit attributable to shareholders for the first half of 2015 to range from ¥25.68 million to ¥32.69 million, representing a growth of 10.00% to 40.00% compared to the same period last year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,593,630,104.50, down 0.78% from ¥1,606,141,352.32 at the end of the previous year[8] - The net assets attributable to shareholders increased by 1.06% to ¥1,218,218,063.09 from ¥1,205,486,137.05 at the end of the previous year[8] - Cash and cash equivalents decreased by 30.70% to ¥65,482,773.93 due to significant cash payments for goods and repayment of bank loans[17] - Other receivables increased by 65.53% to ¥13,207,425.71, primarily due to an increase in futures margin and personal loans[17] - Inventory rose by 34.20% to ¥356,374,854.67, attributed to an increase in finished goods and semi-finished products[17] - Short-term borrowings decreased by 66.67% to ¥10,000,000.00, mainly due to repayment of bank loans[17] - Prepayments surged by 291.14% to ¥3,749,941.08, reflecting an increase in customer advance payments[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,292[12] - The largest shareholder, Jiangsu Changfa Industrial Group Co., Ltd., held 49.53% of the shares, totaling 109,221,450 shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Expenses - Management expenses increased by 38.01% to ¥13,036,697.15, primarily due to higher R&D expenses compared to the same period last year[18] - Financial expenses rose by 571.74% to ¥274,581.76, mainly due to increased bill discounting and reduced interest expenses[18] Cash Flow - The net cash flow from investing activities improved by 51.08% to -¥4,890,931.38, due to reduced payments for fixed asset purchases[18] Corporate Actions - The company is in the process of a major asset restructuring to acquire 100% of the equity of a target company, with relevant approvals being processed by the regulatory authority[19]

Financial Performance - The company's operating revenue for 2014 was ¥2,164,844,615.63, representing a 16.75% increase compared to ¥1,854,182,467.27 in 2013[21] - The net profit attributable to shareholders for 2014 was ¥33,397,449.82, a 30.89% increase from ¥25,515,179.80 in 2013[21] - The net profit after deducting non-recurring gains and losses was ¥39,887,224.73, which is a 46.67% increase from ¥27,196,026.77 in 2013[21] - The net cash flow from operating activities improved significantly to ¥137,832,817.19, a 425.72% increase from -¥42,316,442.25 in 2013[21] - The basic earnings per share for 2014 was ¥0.15, up 25.00% from ¥0.12 in 2013[21] - The total profit for the year was CNY 47.79 million, up 38.38% from CNY 34.54 million in 2013[32] - The company's main business income was CNY 2,124.74 million, up 19.97% from CNY 1,771.06 million in 2013[32] - The gross profit margin for the general components manufacturing sector was 14.81%, an increase of 2.18% from the previous year[51] Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 137.83 million, a substantial improvement from a negative CNY 42.32 million in 2013, marking a 425.72% increase[32] - The investment activities generated a net cash flow of ¥80,109,622.28, a 157.27% increase year-on-year[49] - The company's investment activities cash inflow increased significantly by 1,487.00% to ¥122,307,912.14 in 2014[48] - The company has provided entrusted loans totaling 11,500,000 RMB, with interest rates of 9.50% and 8.50% for different borrowers[70][71] - The total amount of raised funds for investment projects is 64,838.78 million RMB, with 62,744.35 million RMB utilized by the end of the reporting period[74][75] Research and Development - Research and development investment increased by 39.50% to CNY 33.28 million, compared to CNY 23.86 million in 2013[32] - In 2014, the company's R&D expenses increased by 39.50% year-on-year, amounting to ¥33,284,024.22, representing 1.54% of operating revenue[47] - The company is investing heavily in R&D, with a budget allocation of 100 million RMB for the development of new technologies and products[167] Market and Sales Performance - The company sold 24,177,622 units in 2014, representing a 14.14% increase from 21,182,397 units in 2013[36] - The production volume of aluminum plates (foils) and copper tubes saw significant growth, with sales volume increasing by 45.07% to 49,978,393 kg[37] - The company anticipates a continued increase in the market share of variable frequency air conditioners, driven by consumer trends and government policies[80] - Jiangsu Changfa Refrigeration plans to enter new markets in Southeast Asia, aiming for a market share increase of 5% within the next two years[167] Risk Management - The company faces risks related to fluctuations in raw material prices and rising labor costs[12] - The company faces risks from raw material price fluctuations, particularly for copper and aluminum, and plans to mitigate this through price mechanism improvements and inventory management[90] - The company acknowledges the seasonal nature of its business and plans to mitigate risks by diversifying product offerings and exploring new markets[93] Corporate Governance - The company has established a remuneration decision-making process for its directors and senior management, which is approved by the board of directors[170] - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[183] - The company has implemented a system for insider information management, ensuring compliance with regulatory requirements[187] - The audit committee held 5 meetings during the reporting period, reviewing internal audit reports and providing guidance on financial reporting and internal controls[193] Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company has not proposed any cash dividend distribution for the fiscal year 2014, opting to retain undistributed profits for operational needs[102] - The company’s profit distribution policy has been refined to enhance shareholder returns while ensuring sustainable development[98] - The company has established a three-year shareholder return plan (2015-2017) to clarify profit distribution principles and conditions[98] Employee and Labor Relations - As of December 31, 2014, the company had a total of 3,338 employees, with 1,658 formal employees and 1,680 labor dispatch workers[175] - The employee composition showed that 80.86% were production personnel, while only 1.08% were technical personnel[175] - The company emphasizes the importance of training and has established annual training plans to enhance employee skills and overall quality[179] - The company has implemented a labor contract system, ensuring compliance with labor protection and social security regulations[179] Strategic Initiatives - The company is currently in the construction phase of a micro-channel heat exchanger project to enhance product offerings[34] - The company aims to enhance its product structure by accelerating the construction progress of the microchannel heat exchanger project and expanding its market share in commercial air conditioning[87] - The company has completed a strategic acquisition of a local competitor, which is expected to enhance its production capacity by 30%[167] Compliance and Legal Matters - The company reported no significant litigation or arbitration matters during the reporting period[109] - There were no penalties or rectifications during the reporting period[136] - The company has not experienced any significant changes in shareholding structure or stock issuance during the reporting period[142]

Financial Performance - Operating revenue increased by 6.04% to CNY 525,902,923.06 for the current period, and by 17.21% to CNY 1,630,241,627.82 year-to-date[8] - Net profit attributable to shareholders decreased by 20.53% to CNY 10,362,888.97 for the current period, while year-to-date net profit increased by 7.35% to CNY 33,709,851.15[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 19.40% to CNY 10,899,082.78 for the current period, and by 24.90% to CNY 32,890,051.68 year-to-date[8] - Basic earnings per share decreased by 16.67% to CNY 0.05 for the current period, while year-to-date it increased by 7.14% to CNY 0.15[8] - The weighted average return on net assets was 0.86%, a decrease of 0.23% compared to the previous period[8] Assets and Liabilities - Total assets decreased by 8.61% to CNY 1,637,278,430.29 compared to the end of the previous year[8] - The company's cash and cash equivalents decreased by 53.80% to ¥43,301,976.68 due to a reduction in newly issued notes payable compared to last year[16] - The company reported a net cash flow from operating activities of CNY -11,238,543.44, a decrease of 11.37% year-to-date[8] - The company's short-term borrowings decreased by 37.50% to ¥125,000,000.00, reflecting a reduction in bank loan balances[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,772[12] - Jiangsu Changfa Industrial Group Co., Ltd. held 49.53% of the shares, making it the largest shareholder[12] Investments and Projects - The company plans to invest approximately ¥13.2 million in a microchannel heat exchanger project, which is currently under construction[18] - The company reported a net cash inflow from investing activities of ¥89,086,981.06, a significant increase of 162.72% compared to a net outflow of ¥142,034,645.64 in the previous period, mainly from the recovery of entrusted loans[20] Expenses and Taxation - Sales expenses rose by 44.51% to ¥44,198,966.13, mainly due to increased transportation costs[16] - The company reported a 134.27% increase in tax payable to ¥10,795,643.22, attributed to higher sales revenue[16] Future Outlook and Commitments - The net profit attributable to shareholders for 2014 is expected to increase by 20.00% to 70.00%, translating to a range of ¥30,618,200 to ¥43,375,800, driven by increased production and sales of aluminum plates and copper tubes[22] - The company is actively pursuing a major asset restructuring, with stock trading suspended since July 14, 2014, pending further developments[17] - The company has committed to avoiding competition with its major shareholder, Jiangsu Changfa Industrial Group Co., Ltd., as part of its long-term commitments[20]

Financial Performance - The company achieved total operating revenue of CNY 1,104,338,704.76, representing a 23.40% increase compared to the same period last year[20]. - Net profit attributable to shareholders reached CNY 23,346,962.18, an increase of 27.14% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 21,990,968.90, reflecting a 27.81% growth compared to the previous year[20]. - Basic earnings per share increased by 37.50% to CNY 0.11 per share[20]. - The company's main business achieved sales revenue of 1,084.95 million yuan, a year-on-year increase of 29.88% due to significant growth in aluminum foil and copper tube sales[31]. - Total operating revenue for the reporting period was 1,104.34 million yuan, up 23.40% from 894.95 million yuan in the same period last year[33]. - Operating profit for the current period was ¥33,878,009.24, representing a growth of 47.8% from ¥22,929,383.48 in the previous period[118]. - Net profit increased to ¥23,346,962.18, a rise of 27.5% compared to ¥18,363,106.90 in the same period last year[118]. Cash Flow - The company reported a significant decline in net cash flow from operating activities, amounting to CNY -85,305,977.41, a decrease of 538.08% compared to the same period last year[20]. - The net cash flow from operating activities was -85.31 million yuan, a decrease of 538.08% compared to 19.47 million yuan in the previous year, primarily due to increased procurement costs[34]. - The net cash flow from investment activities was 101.19 million yuan, a significant increase of 173.23% from -138.18 million yuan in the previous year, mainly due to the recovery of entrusted loans[34]. - The company generated ¥768,932,676.46 in cash from sales of goods and services, down from ¥871,924,866.45 in the previous period[124]. - Cash outflow from operating activities totaled 1,070,956,655.86 yuan, an increase from 899,593,927.39 yuan, indicating a rise of about 19%[127]. - The net cash flow from investing activities was 101,403,411.92 yuan, a significant recovery from -138,182,540.61 yuan in the previous period[128]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,661,792,803.93, down 7.24% from the end of the previous year[20]. - Total current assets decreased from CNY 1,104,462,302.94 to CNY 1,064,661,931.63, a decline of approximately 3.2%[113]. - Total liabilities decreased from CNY 596,971,037.76 to CNY 467,190,582.95, a decline of about 21.7%[115]. - Non-current assets decreased from CNY 682,319,864.64 to CNY 592,389,652.88, a decline of approximately 13.2%[114]. - The total assets decreased from CNY 1,786,782,167.58 to CNY 1,657,051,584.51, a reduction of about 7.2%[114]. Investments and Projects - The company plans to continue enhancing the production and sales of aluminum foil and copper tube projects, as well as expanding the production of commercial air conditioning components[35]. - The company has committed to an investment of 18,000,000 for an annual production of 30,000 tons of aluminum foil, with a 100% investment progress[54]. - The evaporator and condenser production line expansion project has a committed investment of 15,000,000, with 91.60% of the investment completed[54]. Shareholder Information - The company did not distribute cash dividends or bonus shares during this reporting period[6]. - The company distributed a cash dividend of 22,050,000 based on a total share capital of 220,500,000 shares, at a rate of 1.00 per 10 shares[62]. - The total number of ordinary shareholders at the end of the reporting period was 14,377[98]. - Jiangsu Changfa Industrial Group Co., Ltd. held 49.53% of the shares, amounting to 109,221,450 shares[98]. Compliance and Governance - The financial report for the half-year has been audited by Jiangsu Gongzheng Tianye Accounting Firm, with an audit fee of 400,000 yuan[91]. - The audit report for the semi-annual report was issued with a standard unqualified opinion by Jiangsu Gongzheng Tianye Accounting Firm[108]. - The financial report was approved by the board on August 24, 2014, indicating the company's commitment to transparency and compliance with accounting standards[148]. Quality Management - The company emphasizes quality management and has obtained ISO9001 and ISO14001 certifications, ensuring a robust quality assurance system[44]. Related Party Transactions - The company reported a total of 631.2 million yuan in related party transactions, accounting for 0.78% of similar transactions[77]. - The company had sales of 302.15 million yuan from related party transactions, representing 0.27% of similar transactions[77]. Miscellaneous - The company has not made any external investments or held any financial enterprise equity during the reporting period[45][46]. - The company has no major litigation or arbitration matters during the reporting period[69]. - There were no significant asset acquisitions or disposals during the reporting period[72][73]. - The company has no stock incentive plans or their implementation during the reporting period[76].

江苏常发制冷股份有限公司 2014 年第一季度报告正文 证券代码：002413 证券简称：常发股份 公告编号：2014-012 江苏常发制冷股份有限公司 2014 年第一季度报告正文 公司负责人黄小平、主管会计工作负责人黄善平及会计机构负责人(会计主 管人员)江俊杰声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏常发制冷股份有限公司 2014 年第一季度报告正文 2014 年 4 月 1 江苏常发制冷股份有限公司 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。 所有董事均已出席了审议本次季报的董事会会议。 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 | | --- | --- | --- | --- | | | | | （%） | | 营业收入（元） | 437,667,848.38 | ...

Financial Performance - The company's operating revenue for 2013 was CNY 1,854,182,467.27, representing a 35.76% increase compared to CNY 1,365,798,009.88 in 2012[25] - The net profit attributable to shareholders for 2013 was CNY 25,515,179.80, a decrease of 47.34% from CNY 48,448,389.17 in 2012[25] - The basic earnings per share for 2013 was CNY 0.12, down 45.45% from CNY 0.22 in 2012[25] - Operating profit was 42.73 million yuan, a decrease of 31.62% year-on-year, while net profit fell to 25.52 million yuan, down 47.34% from the previous year[34] - The company reported a significant increase in investment cash inflow, reaching ¥7,706,864.52, up 669.94% from ¥1,000,967.22 in 2012[53] - The cash dividend for 2013 represents 86.42% of the net profit attributable to shareholders, which was RMB 25,515,179.80[111] - The total distributable profit for 2013 was RMB 343,670,140.60, with cash dividends constituting 100% of the profit distribution[112] Cash Flow - The net cash flow from operating activities was negative CNY 42,316,442.25, a decline of 203.43% compared to a positive CNY 40,913,756.44 in 2012[25] - The company’s operating cash flow turned negative, with a net cash flow from operating activities of -42.32 million yuan[35] - Operating cash inflow totaled ¥2,047,084,272.48 in 2013, a 16.34% increase from ¥1,759,574,941.69 in 2012, while cash outflow increased by 21.57%[53] Assets and Liabilities - Total assets at the end of 2013 amounted to CNY 1,791,567,481.18, reflecting a 21.45% increase from CNY 1,475,094,846.77 at the end of 2012[25] - The net assets attributable to shareholders at the end of 2013 were CNY 1,195,559,449.73, a slight increase of 0.3% from CNY 1,191,968,157.43 at the end of 2012[25] - Short-term borrowings increased to ¥200,000,000.00, representing 11.16% of total assets, primarily due to new bank loans[61] Market and Sales Performance - Sales volume of aluminum foil reached 30,556,374 units, a significant increase of 110.5% compared to the previous year[39] - The sales volume of copper pipes rose by 124.43% to 3,895,095 units, reflecting strong production growth[39] - Domestic revenue increased by 6.47% to ¥1,479,506,824.43, while international revenue decreased by 21.81% to ¥291,554,313.31[57] Research and Development - The company’s research and development investment increased by 22.89% to 23.86 million yuan[35] - Research and development expenses rose to ¥23,859,831.07 in 2013, accounting for 1.29% of operating revenue, down from 1.42% in 2012[50] Risk Management - There are no significant risks affecting the company's production, financial status, or ongoing profitability[14] - The company faces risks from raw material price fluctuations, particularly for electrolytic copper and aluminum ingots, and plans to implement hedging strategies to mitigate these risks[102] Corporate Governance - The company has maintained its major shareholder structure without changes[21] - The company has not reported any overdue or litigation issues related to entrusted loans totaling CNY 11.5 million[81] - The company has not engaged in any derivative investments during the reporting period[77] Dividend Policy - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares to all shareholders[6] - The company has revised its cash dividend policy to enhance transparency and protect minority shareholders' rights, ensuring compliance with regulatory requirements[106] Strategic Initiatives - The company plans to continue enhancing quality management and new product development to improve operational efficiency[37] - The company is focusing on technological innovation and product upgrades to align with national policies on energy conservation and environmental protection[99] - The company aims to improve production efficiency and profitability by increasing capacity utilization and enhancing product quality in 2014[101] Employee and Management Information - The company reported a total of 3,203 employees as of December 31, 2013, with 1,653 formal employees and 1,690 labor dispatch workers[200] - The total remuneration for directors, supervisors, and senior management during the reporting period was 379.56 million yuan[197] - The company has not granted any stock incentives to directors, supervisors, or senior management during the reporting period[197] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,674, an increase from 14,909 at the end of the previous reporting period[163] - Jiangsu Changfa Industrial Group Co., Ltd. holds 49.53% of the shares, amounting to 109,221,450 shares[165]