NUG(SH:600051)2014-03-24 16:00Financial Performance - In 2013, the company achieved a net profit of RMB 133,574,840.16, with a distributable profit of RMB 339,136,148.34 after accounting for retained earnings[8]. - The basic earnings per share increased by 81.31% to RMB 0.20 compared to RMB 0.11 in 2012[24]. - The weighted average return on equity rose to 3.28%, an increase of 1.47 percentage points from 1.81% in the previous year[24]. - The company reported a decrease in the basic earnings per share after deducting non-recurring gains and losses, which was RMB -0.13 in 2013 compared to RMB -0.20 in 2012[24]. - Net profit attributable to shareholders increased by 81.31% to RMB 60,027,573.55, primarily due to increased investment income from the disposal of available-for-sale financial assets[31]. - The company’s net profit margin improved significantly, with net profit reaching RMB 44,660,000, an increase of 147.77% year-on-year[31]. - The total profit for the period was 8,777,000 RMB, compared to 5,005,000 RMB in the previous year, reflecting a significant increase[46]. - Main business profit increased by 5.06% to 22,333,000 RMB, while other business profit surged by 71.66% to 5,136,000 RMB[46]. - Total revenue for 2013 was CNY 2,823,462,066.07, a decrease of 6.6% from CNY 3,023,927,135.21 in the previous year[187]. - Net profit for 2013 was CNY 44,661,387.10, an increase of 148.1% compared to CNY 18,025,635.96 in the previous year[187]. Cash Flow and Investments - The net cash flow from operating activities was negative at RMB -724,228,291.28, a significant decline from RMB 1,553,589.83 in the previous year[36]. - The net cash flow from operating activities decreased to -72,423,000 RMB, down from 155,000 RMB in the same period last year, a decline of 72,578,000 RMB[45]. - The net cash flow from investing activities increased to 10,107,000 RMB, compared to -13,934,000 RMB in the previous year, an increase of 24,041,000 RMB[45]. - The net cash flow from financing activities rose to 34,206,000 RMB, up from -4,405,000 RMB last year, an increase of 38,611,000 RMB[45]. - The cash flow from operating activities in 2013 is -34.59 million RMB, indicating a negative cash flow[127]. - Investment income for 2013 was CNY 117,414,099.54, significantly higher than CNY 62,491,064.06 in the previous year, representing an increase of 88.0%[187]. - Net cash flow from investment activities was CNY 101,074,013.38, a recovery from a negative CNY -139,342,818.47 in the previous period[195]. - Financing cash inflow reached CNY 2,211,920,909.62, an increase from CNY 1,433,759,285.83, representing a growth of approximately 54.1%[195]. Assets and Liabilities - The total assets at the end of 2013 were RMB 7,729,911,620.04, reflecting a 19.16% increase from the previous year[26]. - The company's total liabilities reached CNY 5,845,037,600.80, up from CNY 4,493,415,643.79, indicating an increase of about 30.1%[180]. - The total equity attributable to shareholders was CNY 1,778,187,020.18, a decrease from CNY 1,881,976,373.30, representing a decline of approximately 5.5%[180]. - Current assets totaled CNY 6,060,964,732.04, compared to CNY 4,509,932,797.36 at the beginning of the year, marking an increase of around 34.4%[178]. - Inventory levels surged to CNY 5,066,027,942.57, up from CNY 3,265,167,610.04, which is an increase of approximately 55.1%[178]. - Short-term borrowings rose significantly to CNY 1,270,912,734.52 from CNY 888,488,768.45, reflecting an increase of about 43.0%[179]. Business Operations - The company’s main business includes infrastructure, real estate, and foreign trade, with a focus on thermal power and high-tech development[20]. - The company completed a total power generation of 22,978 million kWh, an increase of 10.71% year-on-year, and steam sales of 1.14 million tons, up 3.64%[31]. - The real estate division completed construction of 824,600 square meters, generating RMB 1.218 billion in cash recovery[32]. - The company achieved an export volume of USD 24,320 million and an import volume of USD 5,124 million in the wholesale business[33]. - The wholesale business is expected to grow steadily, supported by improving global trade conditions and domestic economic development[79]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.60 per 10 shares, totaling RMB 48,384,000.00[8]. - The company plans to implement a cash dividend of 30.24 million RMB for the reporting period, which is 80.60% of the net profit attributable to shareholders[92]. - The largest shareholder, Zhejiang Rongsheng Holding Group Co., Ltd., holds 29.9% of the shares, totaling 90,417,600 shares, which are pledged[124]. - The total number of shareholders at the end of the reporting period is 35,238, with a decrease from 30,565 in the five trading days prior to the report[124]. Risks and Challenges - The company is facing market risks due to government re-planning of centralized heating in the Qingzhi Industrial Zone, which may adversely affect existing heating operations[85]. - The real estate sector is facing increased competition, with pressure from large external developers affecting project expansion[78]. - The real estate sector is adapting to policy risks from continued purchase and loan restrictions, which may impact buyer sentiment and purchasing plans[86]. - The company is experiencing increased funding needs due to ongoing project developments and daily operations, relying on bank financing with costs above the benchmark interest rate[84]. Management and Governance - The company has a diverse management team with members holding various positions in other subsidiaries, enhancing operational synergy[137]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, linking their compensation to performance assessments[149]. - The company has established a comprehensive internal control system to ensure compliance and operational efficiency[162]. - The supervisory board found no issues with the company's oversight matters during the reporting period[157]. Miscellaneous - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not reported any major related party transactions during the reporting period[96]. - The company has no other significant contracts during the reporting period[102].