DFAC(SH:600006)2015-03-26 16:00Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.212 RMB per 10 shares, totaling 15,200,000 RMB, subject to shareholder approval[2]. - The company has reported a profit distribution of CNY 6,600,000.00 to its shareholders during the reporting period, indicating a commitment to returning value to investors despite financial challenges[188]. - The total number of shareholders increased to 135,043 by the end of the reporting period[107]. - The largest shareholder, Dongfeng Motor Co., Ltd., holds 1.202 billion shares, representing 60.10% of the total[109]. Financial Performance - The company's revenue for 2014 was approximately ¥17.47 billion, a decrease of 9.50% compared to ¥19.31 billion in 2013[24]. - Net profit attributable to shareholders was ¥140.58 million, representing a significant increase of 186.26% from ¥49.11 million in 2013[24]. - Basic earnings per share for 2014 was ¥0.0703, up 186.26% from ¥0.0246 in 2013[25]. - The total operating revenue for 2014 was CNY 17,471,251,823.09, a decrease of 9.5% from CNY 19,305,694,174.24 in the previous year[166]. - Net profit for 2014 was CNY 176,244,343.41, a decline of 42.7% compared to CNY 307,201,182.65 in the previous year[166]. - The net profit attributable to shareholders of the parent company was CNY 140,583,706.18, significantly up from CNY 49,110,585.43 in 2013[166]. Assets and Liabilities - The total assets of Dongfeng Motor Corporation as of December 31, 2014, amounted to CNY 19,439,252,677.74, a decrease from CNY 20,191,845,033.17 in the previous year[160]. - The company's total liabilities were CNY 11,526,773,710.24, down from CNY 12,435,237,473.58 year-over-year[160]. - The total equity attributable to shareholders of the parent company increased to CNY 6,090,907,944.46 from CNY 5,968,785,173.78, reflecting a growth of approximately 2.04%[160]. - Current assets totaled CNY 12,987,446,805.51, a decrease from CNY 13,592,142,612.52 in the previous year[158]. - The company's cash and cash equivalents were CNY 4,012,885,169.27, compared to CNY 4,219,264,815.41 in the prior year, indicating a decline of about 4.9%[158]. Market Performance and Sales - The company sold 239,000 vehicles in 2014, a decline of 12.2% year-on-year, while engine sales increased by 6.5% to 193,000 units[32]. - The company maintained a market share of 9.0% in the light truck segment, ranking fifth in the industry, while achieving a 41.0% market share in the medium and light bus chassis segment[36]. - The company plans to achieve a vehicle sales target of 258,600 units and an engine sales target of 203,388 units for the year 2015[81]. - The company aims for an operating income of 20,691 million RMB in 2015, indicating a focus on revenue growth despite market challenges[81]. Research and Development - Research and development expenses totaled ¥595.04 million, accounting for 3.41% of operating revenue and 7.52% of net assets[49]. - Dongfeng's R&D expenditure increased by 20% in 2014, reaching CNY 2 billion, to support innovation initiatives[118]. - The company plans to invest CNY 5 billion in new product development, focusing on electric and hybrid vehicles over the next three years[120]. Corporate Governance and Management - The company has established an investor relations management system to ensure timely disclosure of information and address investor inquiries[135]. - The company has implemented a performance evaluation system for senior management, which influences salary adjustments and promotions[134]. - The company has maintained its accounting firm, Lixin CPA, for 7 years with an audit fee of RMB 120,000[100]. - The company has established ten specialized committees to enhance decision-making transparency and mitigate risks associated with major investments and personnel changes[147]. Challenges and Future Outlook - The company faced challenges in the commercial vehicle market, with a 6.5% decline in sales due to macroeconomic factors and stricter emission regulations[32]. - The company is facing challenges in the light truck market, with a projected decline of 7% in overall market demand due to strict implementation of National IV emission regulations[79]. - The management highlighted a focus on strategic acquisitions to strengthen its competitive position in the automotive industry[117]. - Future guidance suggests a projected revenue growth of approximately 10% for the next fiscal year[117].