ST富润(600070) - 2013 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2013 was CNY 1,072,373,157.47, representing a 1.48% increase compared to CNY 1,056,706,354.62 in 2012[24] - The net profit attributable to shareholders for 2013 was CNY 122,469,826.80, a decrease of 3.72% from CNY 127,201,501.91 in 2012[24] - The net cash flow from operating activities decreased by 47.43% to CNY 70,285,722.39 in 2013 from CNY 133,695,778.00 in 2012[24] - Total profit amounted to CNY 22,905.13 million, reflecting a year-on-year growth of 1.44%[29] - Net profit attributable to the parent company was CNY 12,246.98 million, a decrease of 3.72% compared to the previous year[29] - The basic earnings per share stood at CNY 0.67[29] - The company reported a net profit of ¥244,977,003.27, up from ¥197,521,745.93, marking a growth of about 24.0%[114] - The net profit for the current period was CNY 127,201,501.91, while the previous year's net profit was CNY 183,548,277.61, indicating a decrease of about 30.7%[134] Assets and Liabilities - The total assets at the end of 2013 were CNY 1,769,449,118.33, an increase of 14.24% from CNY 1,548,912,309.36 at the end of 2012[24] - The company's net assets attributable to shareholders increased by 46.56% to CNY 864,216,487.45 at the end of 2013 from CNY 589,669,913.38 at the end of 2012[24] - Total liabilities decreased to ¥627,295,159.10 from ¥727,480,460.37, a reduction of about 13.8%[113] - Shareholders' equity rose to ¥1,142,153,959.23 from ¥821,431,848.99, indicating an increase of approximately 39.1%[114] Cash Flow - The net cash flow from operating activities decreased by 47.43% to CNY 70,285,722.39, primarily due to increased cash payments for goods and services[38] - The net cash flow from investing activities was CNY 299,067,540.03, a significant improvement compared to a negative CNY 17,792,057.47 in the previous year, mainly due to the recovery of CNY 150 million in entrusted loans[38] - The cash flow from operating activities generated ¥70,285,722.39, a decrease from ¥133,695,778.00 in the previous period[125] - The total cash and cash equivalents at the end of the period amounted to 189,952,058.92 RMB, up from 135,253,282.90 RMB at the beginning of the year, showing an overall increase in liquidity[130] Investments and Expenditures - The company made equity investments totaling CNY 52,126,900, a 963.81% increase year-on-year, including investments in Changcheng Creative Park and Shaoxing Bank[47] - The company’s short-term borrowings decreased by 61.74% to CNY 138,200,000.00, reflecting a repayment of bank loans due to sufficient funds[43] - The company has no major capital expenditure plans in the near future, indicating a focus on maintaining current operations and ongoing projects[58] Research and Development - Research and development expenses increased by 16.99% to CNY 6,158,807.74[31] - The total R&D expenditure for the year was CNY 6,158,807.74, accounting for 0.54% of net assets and 0.57% of operating revenue[38] Market and Sales - The company achieved a significant increase in sales for its textile and apparel segment, with revenue reaching 4,353.57 million RMB, a 167.12% increase compared to the previous year[55] - The company’s top five customers contributed CNY 14,898.78 million, accounting for 13.88% of total operating revenue[34] - The company’s textile and dyeing subsidiaries were recognized as high-tech enterprises, highlighting its technological advantages in the industry[45] Corporate Governance - The board of directors consists of 6 members, including 3 independent directors, complying with legal requirements[92] - The company has not experienced any changes in its board of directors, supervisors, or senior management during the reporting period[85] - The independent directors did not raise any objections to the board's proposals or other matters during the reporting period[98] Shareholder Information - The total number of shareholders as of the end of the reporting period is 18,795, an increase from 17,751 on the last trading day before the annual report disclosure[72] - The largest shareholder, Furen Holdings Group Co., Ltd., holds 50,745,623 shares, accounting for 27.75% of the total shares[72] - The total remuneration for executives amounted to 392.25 million yuan, with an average of 34.48 million yuan per executive[79] Compliance and Audit - The financial statements for the year ended December 31, 2013, were audited by Tianjian Accounting Firm, which issued a standard unqualified audit opinion[109] - The company emphasizes transparency in information disclosure, adhering to legal and regulatory requirements[94] - There were no penalties or corrective actions imposed on the company or its executives by the China Securities Regulatory Commission during the reporting period[68] Future Outlook - The company aims to achieve a revenue target of 1.2 billion RMB in 2014, with cost control set at 1.12 billion RMB, indicating a focus on profitability and efficiency[56] - Future guidance indicates a positive outlook for revenue growth driven by new product launches and market strategies[80] - The company plans to continue expanding its market presence and investing in new technologies to drive growth[80]