CWTC Co., Ltd.(SH:600007)2014-04-08 16:00Financial Performance - In 2013, the company achieved a net profit of CNY 327,943,291, with a proposed cash dividend of CNY 1.70 per 10 shares, totaling CNY 171,238,031[6]. - The company's operating revenue for 2013 was CNY 2,050,149,034, representing a year-on-year increase of 3.55% compared to CNY 1,979,950,431 in 2012[29]. - The net profit attributable to shareholders decreased by 15.00% to CNY 325,196,780 from CNY 382,577,911 in 2012[29]. - The total profit for the year was CNY 430 million, a decrease of CNY 80 million from the previous year, while the profit excluding non-recurring items increased by CNY 70 million to CNY 560 million[39]. - The company achieved operating revenue of 2.05 billion RMB, a 3.6% increase from 1.98 billion RMB in the same period last year, but 3.5% lower than the annual target of 2.12 billion RMB[61]. - The total profit amounted to 430 million RMB, a decrease of 15.1% from 510 million RMB in the previous year, and 22.5% lower than the annual profit target of 560 million RMB[61]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 15% compared to the previous year[181]. Cash Flow - The net cash flow from operating activities increased by 12.01% to CNY 1,097,411,315, up from CNY 979,722,570 in 2012[29]. - The company reported a net cash flow from operating activities of CNY 1.1 billion, an increase of 12.01% year-on-year[41]. - Cash flow from operating activities increased by 12.01% to 1.1 billion RMB from 979.7 million RMB year-on-year[56]. - Cash flow from investing activities showed a significant decline, with a net outflow of 519.9 million RMB, which is a 119.51% increase in outflow compared to 236.9 million RMB last year[56]. - Cash flow from financing activities decreased by 16.96%, with a net outflow of 597.7 million RMB compared to 719.8 million RMB in the previous year[56]. Assets and Liabilities - The total assets of the company at the end of 2013 were CNY 9,320,750,892, a slight decrease of 0.53% from CNY 9,370,785,454 in 2012[29]. - The company’s long-term borrowings decreased to 2.6 billion RMB from 2.83 billion RMB, reflecting an 8% reduction[69]. - The company’s investment properties accounted for 57.90% of total assets, increasing from 56.39% in the previous year[69]. - The company reported a cash outflow of 350 million RMB in 2013, with year-end cash and cash equivalents totaling 710 million RMB[167]. Shareholder Information - The total number of shareholders at the end of the reporting period was 29,606, with the largest shareholder holding 80.65% of the shares[163]. - The company has a significant shareholder structure, with China Life Insurance (Group) Company holding 32.5% of shares[172]. - The company has not issued any securities or experienced changes in its share structure over the past three years[159]. - The company has no other shareholders holding more than 10% of shares as of the end of the reporting period[173]. Dividends - The company has a cash dividend policy to distribute at least 30% of the net profit to shareholders annually, with a focus on cash dividends[105]. - In 2013, the company distributed cash dividends totaling RMB 171,238,031, representing 52.66% of the net profit attributable to shareholders[110]. - The cash dividend per share for 2013 was RMB 1.70, an increase from RMB 1.60 in 2012 and RMB 1.30 in 2011[110]. Operational Highlights - The company implemented flexible leasing strategies to attract and retain quality tenants, enhancing the appeal of its properties[37]. - The hotel segment experienced a decline in revenue of CNY 19.7 million, totaling CNY 375 million, due to reduced demand from corporate travel[43]. - The average rental rate for office space increased to CNY 513 per square meter per month, with an overall occupancy rate of 96.7%[44]. - The company aims to establish a differentiated competitive advantage through innovation, targeting to be the top in China and a world-class entity[72]. Future Outlook - The company expects to achieve operating revenue of 2.23 billion RMB and a total profit of 640 million RMB in 2014[97]. - The company plans to maintain daily operating funds and tax expenditures at approximately 1.12 billion RMB, with total capital expenditures estimated at 60 million RMB[100]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[183]. - New product launches are expected to contribute an additional 300 million RMB in revenue, with a focus on innovative technology solutions[184]. Employee Information - The company employed a total of 2,332 staff, with 993 in the parent company and 1,339 in major subsidiaries[193]. - The company has 160 sales personnel, 850 technical personnel, 84 financial personnel, and 259 administrative personnel[193]. - The company’s employee compensation includes base salary, bonuses, and social insurance contributions[195]. - The company has a training program that combines internal and external training to enhance employee skills[196]. Corporate Governance - The company has maintained its accounting firm, PwC, for 15 years, with an audit fee of CNY 100.35 million[149]. - The company has not reported any significant changes in shareholding for its directors during the reporting period[179]. - The management team remains stable, with all key executives retaining their positions since their initial appointments[179]. Social Responsibility - The company engaged in various social responsibility initiatives, including educational support for impoverished students and collaboration with international organizations for charitable activities[111]. - The company actively participated in disaster relief and environmental protection efforts through various charitable activities[111].