FAWER(000030)2014-04-29 16:00Financial Performance - In 2013, the company's operating revenue reached ¥5,227,802,390.42, an increase of 8.27% compared to ¥4,828,316,433.70 in 2012[21]. - The net profit attributable to shareholders was ¥543,006,376.99, reflecting a growth of 16.19% from ¥467,339,714.75 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥536,934,184.58, which is a 25.82% increase from ¥426,733,050.56 in 2012[21]. - The company's total assets at the end of 2013 amounted to ¥7,110,347,411.96, representing a 13.4% increase from ¥6,269,921,759.76 in 2012[21]. - The net assets attributable to shareholders increased by 16.47% to ¥3,795,062,235.46 from ¥3,258,456,010.65 in 2012[21]. - The total operating cost was 5,051,676,313.43 yuan, up 7.0% from 4,721,142,416.87 yuan year-on-year[30]. - The company achieved a net profit of 543 million yuan, representing a growth of 16.19% compared to the same period last year[29]. - The gross profit margin for the company's main business increased by 0.72% year-on-year to 16.83%[44]. - The total revenue for the year was 4,959,511,493.02 yuan, representing a year-on-year increase of 16.83%[44]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥74,906,133.27, a decline of 120.04% compared to ¥373,699,129.69 in 2012[21]. - The total cash inflow from investment activities decreased by 64.96% compared to the previous year, mainly due to the recovery of land reserve payments in the prior year[41]. - The net cash flow from investment activities decreased by 103.66% year-on-year, attributed to the recovery of land reserve payments last year and cash payments for investments this year[41]. - The net cash flow from financing activities decreased by 76.77% year-on-year, primarily due to compensation payments made in the previous year[41]. - The net increase in cash and cash equivalents decreased by 284.79% year-on-year, mainly due to the use of notes for collections and negative cash flow from operating activities[41]. - The company's cash and cash equivalents at the end of 2013 were 308,926,920.88 yuan, accounting for 4.34% of total assets, a decrease of 4.87% from the previous year[46]. - The total liabilities increased to CNY 2,862,417,622.96 from CNY 2,514,792,124.11, representing a rise of about 13.8%[178]. - The total equity attributable to shareholders rose to CNY 3,795,062,235.46, up from CNY 3,258,456,010.65, indicating an increase of approximately 16.5%[178]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on the total share capital as of December 31, 2013, after deducting 5,443,632 shares to be repurchased[4]. - The cash dividend for 2013 is set at CNY 1.00 per 10 shares, totaling CNY 129.325 million, which represents 23.8% of the net profit attributable to shareholders[71]. - The proposed dividend distribution plan includes a cash dividend of ¥1.00 per 10 shares, totaling ¥129,325,150.8, leaving an undistributed profit of ¥1,582,481,675.12 to be carried forward[73]. Corporate Governance and Management - The board of directors confirmed that all members attended the meeting to review the annual report, ensuring the accuracy and completeness of the financial statements[3]. - The company’s governance structure includes a board of directors and supervisory board, ensuring compliance and oversight in its operations[6]. - The company has established strong strategic partnerships with major domestic and international automotive manufacturers, including FAW-Volkswagen and Cummins, enhancing its market competitiveness[51]. - The company emphasizes the importance of improving product R&D capabilities and internal controls to enhance competitiveness[64]. - The company has established a performance assessment system for senior management, with remuneration based on both base salary and performance salary, which is paid according to the previous year's performance results[133]. - The company has a diverse board with members holding various positions in other companies, including Jin Yi as Vice General Manager of FAW Group and Zhang Zhixin as Executive Director of Yadong Investment[120][121]. Risk Management and Compliance - The company emphasizes the importance of risk management and warns investors about potential investment risks related to forward-looking statements in the annual report[12]. - The company has no major litigation or arbitration matters during the reporting period, ensuring a stable operational environment[80]. - The company has ensured compliance with legal regulations and improved transparency, with no false records or misleading statements reported during the period[144]. - The company implemented a system for accountability regarding significant errors in annual report disclosures, which was executed effectively during the reporting period[167]. Future Outlook and Strategic Plans - The company’s future plans include potential market expansion and the development of new products and technologies to meet industry demands[12]. - The company plans to enhance its core competitiveness by focusing on quality improvement and cost reduction[61]. - The company aims to transition towards a technology-driven approach, becoming an innovative enterprise[61]. - The automotive market in China is expected to grow at a rate of 8%-10% in 2014, with passenger vehicles being the main growth driver[59]. - The company anticipates total revenue of CNY 533.206 million and a net profit of CNY 56.05 million for 2014[61]. Employee Development and Welfare - The company is committed to employee development and welfare, ensuring a motivated workforce[76]. - The company emphasizes a people-oriented management philosophy, focusing on talent development aligned with corporate strategy[140]. - The company actively promoted employee benefits, including corporate annuities and supplementary medical insurance, to safeguard employee rights[139]. - As of December 31, 2013, the total number of employees within the consolidated reporting scope was 6,371, with 1,975 in engineering and technical positions and 2,570 in basic production roles[137].