Financial Performance - The company's operating revenue for 2014 was CNY 1,402,318,942.55, representing an increase of 8.65% compared to CNY 1,290,729,369.91 in 2013[22] - The net profit attributable to shareholders for 2014 was CNY 174,886,336.80, a slight increase of 1.39% from CNY 172,487,083.12 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 8.58% to CNY 145,283,340.36 from CNY 158,925,650.52 in 2013[22] - The net cash flow from operating activities increased significantly by 74.14% to CNY 165,603,650.30 compared to CNY 95,100,494.83 in 2013[22] - The total assets at the end of 2014 were CNY 2,972,142,215.34, reflecting a 1.51% increase from CNY 2,927,824,893.90 at the end of 2013[22] - The net assets attributable to shareholders increased by 6.12% to CNY 2,003,667,650.23 from CNY 1,888,109,825.12 in 2013[22] - The basic and diluted earnings per share remained stable at CNY 0.42 for 2014, unchanged from the previous year[22] - The weighted average return on equity for 2014 was 8.97%, a decrease of 0.44% from 9.41% in 2013[22] Revenue Sources - The company achieved operating revenue of CNY 1,402.32 million, an increase of CNY 111.59 million, representing a year-on-year growth of 8.65%[29] - The sales revenue from wind towers and components was CNY 1,386.88 million, accounting for 98.9% of total revenue, with a year-on-year increase of 14.04%[30] - The company reported a total revenue of 5,000 million in 2014, reflecting a growth of 61.64% compared to the previous year[61] Investment and Development - The company made significant progress in new energy development, preparing for a project capacity of over 2 million kilowatts in the next five years[31] - The company’s investment and financing business is progressing steadily, with good returns from investment projects[31] - Research and development expenditure reached CNY 61,821,000, a 34.04% increase from the previous year, accounting for 4.41% of total revenue[41] - The company invested approximately ¥119.34 million in external investments during the reporting period, representing a 23.19% increase compared to the previous year[55] Market Position and Strategy - The company has established an international marketing network with offices in the US and Belgium, enhancing its global presence[52] - The company has a strong focus on long-term strategic partnerships with clients, including major players like Vestas and GE, to enhance customer service[53] - The company is focusing on increasing its investment in guaranteed income products, with a total of 5,000 million planned for the third quarter of 2014[62] - The company aims to enhance its supply chain operations and provide timely delivery of competitive wind tower components and related products[87] Risk Management - There are no significant risks affecting the company's production, financial status, or ongoing profitability[13] - The company faces risks from international trade barriers, particularly high tariffs on wind tower products exported to the U.S.[90] - The company anticipates potential fluctuations in wind power market demand and profitability due to changes in grid integration and electricity pricing[90] Corporate Governance - The company has established a robust internal control system based on its articles of association, ensuring fair and transparent communication with investors[102] - The company maintains a transparent and fair performance evaluation and incentive mechanism for its directors and management[178] - The internal control evaluation report was fully disclosed on April 22, 2015, confirming the effectiveness of the internal control design and operation[196] Shareholder Information - The largest shareholder, Shanghai Tian Shen Investment Management Co., Ltd., holds 154,320,000 shares, representing 37.50% of the total shares[149] - The company has a total of 19,008 shareholders at the end of the reporting period[149] - The company has maintained a consistent cash dividend policy, distributing a total of 164.6 million yuan over the past three years, exceeding 30% of the average distributable profit during that period[96] Operational Efficiency - The company has implemented strict project cost control, resulting in a surplus of 83.62 million RMB from fundraising projects[73] - The company has a well-established management team with nearly 20 years of experience in the steel structure industry, ensuring effective operational management[52] - The company has a significant number of qualified professionals in welding and non-destructive testing, ensuring product quality[52] Environmental and Social Responsibility - The company emphasizes social responsibility, focusing on economic, social, and environmental benefits while maintaining strong relationships with stakeholders[101] - The company and its subsidiaries are not classified as heavy polluting industries by national environmental protection authorities[103]

证券代码：002531 证券简称：天顺风能 公告编号：2014-073 天顺风能（苏州）股份有限公司 2014 年第三季度报告正文 1 天顺风能（苏州）股份有限公司 2014 年第三季度报告正文 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。 公司负责人严俊旭、主管会计工作负责人刘明生及会计机构负责人(会计主管人员)谢萍声明：保证季 度报告中财务报表的真实、准确、完整。 天顺风能（苏州）股份有限公司 2014 年第三季度报告正文 2 天顺风能（苏州）股份有限公司 2014 年第三季度报告正文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 3,175,313,597.86 | 2,927,82 ...

Financial Performance - The company's operating revenue for the first half of 2014 was ¥690,652,786.16, a decrease of 2.37% compared to ¥707,387,911.52 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥102,608,723.35, an increase of 1.96% from ¥100,634,899.26 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥88,728,851.29, down 11.17% from ¥99,887,343.55 in the previous year[19]. - The net cash flow from operating activities was -¥54,722,592.91, a decline of 35.13% compared to -¥40,497,560.71 in the same period last year[19]. - Basic earnings per share increased by 4.17% to ¥0.25 from ¥0.24 in the same period last year[19]. - The diluted earnings per share also rose by 4.17% to ¥0.25 from ¥0.24 year-on-year[19]. - The weighted average return on net assets was 5.29%, a decrease of 0.22% from 5.51% in the previous year[19]. Revenue and Costs - The company achieved total operating revenue of CNY 690.65 million, a decrease of 2.37% year-on-year, primarily due to a reduction in non-core trading activities[28]. - Main business revenue reached CNY 682.47 million, an increase of 4.97% year-on-year, driven by a 6.89% growth in wind tower product sales[28]. - The gross profit margin for the main business was 22.73%, remaining stable compared to the previous year[28]. - Total operating costs increased to CNY 608,724,990.47, up 2.0% from CNY 591,907,226.01 in the previous period[124]. Investments and R&D - Research and development investment increased by 25.23% to CNY 27.04 million, indicating a commitment to innovation[29]. - The company made external investments totaling CNY 114.85 million, a 68.66% increase from the previous year[35]. - The investment progress for the 3 MW and above offshore wind tower construction project is 98.52%[49]. - The investment progress for the 2.5 MW and above wind tower technical renovation project is 92.29%[49]. - The R&D center project has an investment progress of 85.72%[49]. Cash Flow and Financial Management - Cash flow from operating activities showed a negative net amount of CNY -54.72 million, a decline of 35.13% compared to the previous year, attributed to increased production scale and rising inventory[29]. - The company reported a total of 6,300 million in actual financial management with a yield of 79.22%[40]. - The company achieved a financial management yield of 31.76% on 3,000 million in actual financial management[40]. - The company recorded a yield of 46.58% on 4,000 million in actual financial management[40]. - The company reported a yield of 12.49% on 2,000 million in actual financial management[40]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[5]. - The company distributed a cash dividend of 1.5 CNY per 10 shares, totaling 61.725 million CNY, which has been fully executed by the end of the reporting period[61]. - The total number of ordinary shareholders at the end of the reporting period was 26,455[104]. - The largest shareholder, Shanghai Tianshen Investment Management Co., Ltd., holds 37.50% of the shares, amounting to 154,320,000 shares[104]. Subsidiaries and Operations - The company has a subsidiary in Singapore that reported a revenue of 259.02 million CNY, with a gross profit margin of 2.16%[57]. - The company’s subsidiary, TianShun Wind Power Equipment Co., Ltd., has total assets of RMB 268.95 million and net assets of RMB 50.09 million[55]. - The subsidiary generated operating income of RMB 200.32 million and a net profit of RMB 1.71 million[55]. Legal and Compliance - The company held 9 board meetings, 4 supervisory meetings, and 1 shareholders' meeting during the reporting period, ensuring compliance with legal and regulatory requirements[68]. - There were no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[69]. - The company has not faced any media scrutiny or bankruptcy-related issues during the reporting period[70][71]. Future Outlook - The company is actively pursuing international development strategies, enhancing its market share in overseas wind tower markets[30]. - The company anticipates stable operating performance for the first nine months of 2014, with no significant fluctuations expected compared to the previous year[60]. - The company plans to continue expanding its market presence and investing in new technologies[148]. Accounting Policies - The company adheres to the Chinese Accounting Standards for the preparation of its financial statements[152]. - The company conducts annual impairment tests on goodwill arising from business combinations, comparing the carrying amount of related asset groups to their recoverable amounts[158]. - Financial assets are classified into four categories, including those measured at fair value with changes recognized in profit or loss, held-to-maturity investments, receivables, and available-for-sale financial assets[168].

天顺风能（苏州）股份有限公司 2014 年第一季度报告正文 证券代码：002531 证券简称：天顺风能 公告编号：2014-041 天顺风能（苏州）股份有限公司 2014 年第一季度报告正文 1 天顺风能（苏州）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。 公司负责人严俊旭、主管会计工作负责人刘明生及会计机构负责人(会计主 管人员)谢萍声明：保证季度报告中财务报表的真实、准确、完整。 2 天顺风能（苏州）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 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目，以及把《公 3 天顺风能（苏州）股份有限公司 2014 年第一季度报告正文 开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目，应 说 ...

Financial Performance - The company achieved operating revenue of CNY 1,290,729,369, an increase of 4.80% compared to the previous year[30]. - Net profit attributable to shareholders was CNY 172,487,083, representing a year-on-year increase of 0.85%[30]. - The weighted average return on equity decreased to 9.41% from 10% in the previous year[30]. - The basic earnings per share were CNY 0.42, unchanged from the previous year[30]. - The company's total operating revenue slightly increased compared to the previous year, with domestic trade revenue growing by 44.93% while foreign trade revenue decreased by 7.33%[34]. - Wind tower sales volume reached 146,854 tons, representing a 33.34% increase from 110,135 tons in the previous year, driven by enhanced market expansion efforts[34]. - The company's revenue from wind towers and related products reached ¥1,216,091,139.08, with a year-on-year increase of 2.59%[49]. - The gross margin for wind towers was 22.76%, showing a decrease of 1.96% compared to the previous year[49]. - The company reported a total revenue of 487.96 million CNY, with a net profit of 5.13 million CNY for the year[78]. - The total revenue for the year was reported at 370,240.2 million, representing a 43.73% increase compared to the previous year[111]. Cash Flow and Investments - The net cash flow from operating activities decreased by 66.62% to CNY 95,100,494[30]. - The company’s cash and cash equivalents decreased by 120.17% to -413.33 million yuan, reflecting significant cash outflows in investment and financing activities[45]. - The investment activities cash inflow increased significantly by 34,580.1% to 706.60 million yuan, while cash outflow for investment activities rose by 308.88% to 1.61 billion yuan[45]. - Cash and cash equivalents decreased by 22.08% to ¥498,295,457.71, primarily due to significant investments in short-term bank financial products[51]. - The company reported an investment of 8,000 million in guaranteed income products in August 2013, yielding a return of 28.73%[62]. - Cash flow from operating activities generated a net amount of ¥95,100,494.83, a significant decrease from ¥284,927,422.32 in the prior period[197]. - Cash flow from investing activities showed a net outflow of ¥908,042,925.94, worsening from a net outflow of ¥392,854,987.37 previously[197]. - Cash inflow from financing activities reached $1.11 billion, significantly up from $308.48 million in the previous period[200]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares to all shareholders based on the total share capital as of December 31, 2013[4]. - The cash dividend for 2013 represented 35.79% of the net profit attributable to shareholders, which was 172.487 million yuan[97]. - The company has implemented cash dividends for three consecutive years, with a total cash dividend amount of 164.6 million yuan, exceeding 30% of the distributable profit each year[94]. - Over the past three years, the cash dividend amounts were 41.15 million yuan in 2011, 61.725 million yuan in 2012, and 61.725 million yuan in 2013, with respective payout ratios of 39.14%, 36.09%, and 35.79%[97]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,927,824,893, a growth of 25.51% year-on-year[30]. - The total amount of raised funds is 122,682.86 million CNY, with 39,459.36 million CNY invested during the reporting period[71]. - The balance of raised funds in special accounts as of December 31, 2013, is 29,416.14 million CNY[71]. - Total liabilities rose to CNY 1,039,715,068.78 from CNY 555,599,358.45, an increase of about 87%[184]. - Owner's equity increased to CNY 1,888,109,825.12 from CNY 1,777,231,771.47, showing a growth of approximately 6.2%[184]. Research and Development - The company invested a total of 46.12 million yuan in R&D, a 12.66% increase year-on-year, accounting for 3.57% of total revenue[43]. - The company applied for 5 invention patents and obtained 10 utility model patents during the reporting period[32]. - The company is committed to ongoing research and development of new products and technologies, although specific projects were not mentioned[109]. Market and Competitive Position - The company established offices in Belgium and the USA to enhance its international marketing network[31]. - The offshore wind tower production base was completed and certified, with orders for 6MW and 5MW products expected to be delivered in Q2 2014[32]. - The company deepened strategic cooperation with major clients such as Siemens and GE, enhancing its market expansion efforts[31]. - The global wind power market is expected to grow at an average annual rate of over 11% from 2014 to 2017, with new installed capacity projected to reach 61 GW by 2017[83]. - The company aims to enhance its product offerings in large onshore and offshore wind towers, establishing a world-class brand advantage and becoming a leading provider of wind tower solutions globally[86]. Governance and Compliance - The company has a diverse board with members holding various professional backgrounds, enhancing its governance structure[139]. - The company adheres to legal and regulatory requirements for corporate governance[152]. - The company has established a complete and independent business operation system, including procurement, production, sales, management, and R&D, independent from the controlling shareholder[164]. - The company has a structured internal control system that includes a scientific decision-making mechanism and effective supervision[168]. - The company has not reported any changes in its actual controller or major shareholders during the reporting period[133]. Risks and Challenges - The company faces risks from international trade barriers, policy environment uncertainties, and market competition in the wind power sector[88]. - The company has not encountered any significant changes in the feasibility of the projects[76]. - The company has not reported any significant asset sales during the period, indicating a focus on asset retention[109].