BOOK DIGITAL(SH:600083)2014-03-03 16:00Financial Performance - In 2013, the company achieved a revenue of CNY 82,039,110.53, a significant increase of 588.92% compared to CNY 11,908,402.91 in 2012[27]. - The net profit attributable to shareholders was CNY 7,485,004.18, recovering from a loss of CNY 6,358,544.43 in the previous year[27]. - The company's total assets increased by 99.13% to CNY 88,018,467.40 from CNY 44,201,067.13 in 2012[27]. - The net cash flow from operating activities was CNY 11,555,074.68, representing a 42.72% increase from CNY 8,096,142.12 in 2012[27]. - The company's net assets attributable to shareholders rose by 37.27% to CNY 31,624,333.00 from CNY 23,038,250.13 in 2012[27]. - Basic earnings per share improved to CNY 0.033 from a loss of CNY 0.028 in 2012[27]. - The weighted average return on equity was 27.95%, a recovery from -24.25% in the previous year[27]. - The company achieved operating revenue of ¥82,039,110.53, a significant increase of 588.92% compared to the previous year[30]. - The net profit attributable to the parent company was ¥7,485,004.18, reflecting the successful expansion of the municipal engineering contracting business[30]. - The company reported a positive net profit for the parent company during the reporting period but did not propose a cash dividend distribution plan[55]. Operating Costs and Expenses - Operating costs rose to ¥58,657,126.99, an increase of 397.48% year-on-year, primarily due to the expansion of municipal engineering projects[32]. - The company reported a decrease in financial expenses by 26.94%, amounting to -¥40,552.19[36]. - The company’s management expenses increased by 35.23% to ¥8,076,340.43, driven by the expansion of municipal engineering operations[36]. - The company recorded an asset impairment loss of ¥1,184,681.90, compared to ¥535,102.93 in the previous year, indicating a rise of approximately 121.5%[101]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period amounted to CNY 26,905,418.14, accounting for 30.57% of total assets, up from 15,816,292.26 in the previous period[46]. - The investment activities generated a net cash flow of -¥465,948.80, a 60.06% improvement compared to the previous year[38]. - The total cash inflow from operating activities was 10,342,664.05 RMB, significantly lower than the previous year's 28,857,878.80 RMB, marking a decrease of approximately 64.2%[107]. - The cash flow from financing activities was not detailed, indicating potential areas for future capital raising strategies[107]. Shareholder Information - The total number of shares is 230 million, with 98.25% being unrestricted shares[62]. - The total number of shareholders at the end of the reporting period is 19,908, an increase from 18,492 prior to the annual report disclosure[65]. - The top two shareholders, Yang Zhimiao and Zhu Fenglian, hold 14.09% (32,400,000 shares) and 13.30% (30,600,000 shares) respectively, with Zhu's shares fully pledged[65]. - The company has no other legal entity shareholders holding more than 10% of shares as of the end of the reporting period[70]. Governance and Management - The company has retained Lixin Certified Public Accountants as its auditing firm for the third consecutive year, with an audit fee of RMB 280,000[60]. - The company’s board includes independent directors with diverse backgrounds, including experience in accounting and law[73][74]. - The company’s management team has extensive experience in related industries, with several members previously holding significant positions in Guangdong Jinlong Development Co., Ltd.[73][74]. - The company maintains a strict governance structure, ensuring the independence of the board and compliance with legal regulations[83]. Future Outlook and Strategy - The company plans to continue focusing on municipal engineering contracting and optimizing its asset structure in the future[30]. - The company aims to reduce trade operations and focus on stable operations and risk control in 2014[51]. - The company anticipates potential risks from rising costs of raw materials and labor shortages[52]. - The company plans to focus on improving operational efficiency and exploring new investment opportunities to enhance future cash flows[107]. Accounting Policies and Financial Reporting - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status and operating results[119][120]. - The company uses Renminbi as its accounting currency[122]. - The company has no changes in accounting policies or estimates reported for the period[192]. - The corporate income tax rate applicable to the company is 25%[193]. Accounts Receivable - The total accounts receivable at the end of the period amounted to ¥22,327,820.22, with a bad debt provision of ¥1,116,391.01, representing 5% of the total[198]. - The majority of accounts receivable (96.91%) is owed by Qingyuan Water Supply Co., Ltd., totaling ¥21,638,406.00, which is within one year[199]. - There were no actual write-offs of accounts receivable during the reporting period[198].