MXEP(SH:600101)2014-03-28 16:00Financial Performance - In 2013, the company achieved a net profit of ¥160,575,007.57, with a distributable profit of ¥144,517,506.81 after statutory reserve allocation[6]. - The total distributable profit available for shareholders reached ¥789,263,223.97, including retained earnings from previous years[6]. - The company's operating revenue for 2013 was CNY 1,080,729,764.70, representing an 18.99% increase compared to CNY 908,260,841.57 in 2012[34]. - Net profit attributable to shareholders for 2013 was CNY 164,723,813.82, a 49.08% increase from CNY 110,493,694.56 in 2012[34]. - Basic earnings per share for 2013 was CNY 0.51, reflecting a 50% increase from CNY 0.34 in 2012[32]. - The weighted average return on equity increased to 9.90% in 2013, up by 2.72 percentage points from 7.18% in 2012[32]. - The company's net profit for the reporting period was 160,517,515.33 CNY, a decrease of 19.21% compared to the previous year[62]. - Operating revenue reached 1,063,783,851.73 CNY, reflecting an 18.94% increase year-on-year[73]. Dividend Distribution - The company plans to distribute a cash dividend of ¥0.55 per 10 shares, totaling ¥17,829,843.74, based on a total share capital of 324,178,977 shares as of December 31, 2013[6]. - In 2013, the company distributed a total of 17,829,843.74 RMB in cash dividends, representing 10.82% of the net profit attributable to the parent company[132]. - The company approved a cash dividend of 0.50 RMB per 10 shares for the 2012 fiscal year, based on a total share capital of 324,178,977 shares[128]. - The cash dividend for 2011 and 2012 was also 0.50 RMB per 10 shares, with respective distributions of 16,208,948.85 RMB and 16,208,948.85 RMB[132]. - The company has not proposed a cash dividend distribution plan for the current reporting period despite having positive undistributed profits[130]. Operational Efficiency and Investments - The company completed 312 major repairs and technical upgrades, enhancing operational efficiency in power generation and supply[41]. - The company plans to continue expanding its service capabilities, having added 27,450 new electricity customers and increased load by 261,600 kVA[42]. - The company will invest CNY 368 million in 2014 for facility upgrades, technical improvements, and project expansions, with CNY 218 million allocated for infrastructure projects[121]. - The company aims to enhance its core electric and water supply industries while optimizing project management and expanding market share[117]. - The company plans to improve operational efficiency through automation and information technology, including the integration of the Guanyudu Power Station into a hierarchical control system[120]. Market Position and Customer Base - The company maintained a 100% market share in the electricity supply market and over 95% in the water supply market within its jurisdiction[66]. - The top five customers accounted for 9.73% of the total annual sales, with total sales amounting to CNY 105.12 million[50]. - The largest customer, China Resources Jinhua Co., Ltd., contributed CNY 58.62 million, representing 5.42% of total annual sales[51]. Related Transactions and Shareholder Information - The company engaged in daily related transactions, purchasing electricity from State Grid Sichuan Electric Power Company, amounting to 391.67 million RMB[154]. - The company reported a related transaction with State Grid Sichuan Electric Power Company for electricity sales totaling 23.42 million RMB[154]. - The company transferred idle land use rights of 7.99 acres to State Grid Sichuan Electric Power Company for a price of 910,000 RMB, with the transaction completed[157]. - The total number of shareholders as of the end of the reporting period is 37,172[189]. - The largest shareholder, State Grid Sichuan Electric Power Company, holds 20.07% of shares, totaling 65,069,997 shares[190]. Future Outlook and Strategic Plans - The company plans to achieve a sales volume of 1.46 billion kWh, an online power generation of 490 million kWh, and a water sales volume of 27 million tons in 2014, targeting a main business revenue of CNY 1.086 billion[118]. - The company anticipates a 10% growth in electricity sales in 2014, supported by stable economic conditions and increased demand[122]. - The company faces risks related to external economic conditions and the need for significant investment in network upgrades, estimated at CNY 300-500 million annually[123]. - The company will continue to strengthen its project planning and management to ensure alignment with local government requirements and market demands[124]. Legal and Compliance Matters - The company has faced litigation related to a loan guarantee, with a total amount involved of 101.6 million RMB[140]. - The court ruled that the company is entitled to recover the loan amount plus interest, with no impact on the current or future profits[141]. - The company has not faced any penalties or administrative actions from the China Securities Regulatory Commission during the year[175]. Asset Management and Financial Health - The total assets at the end of 2013 were CNY 2,565,109,395.92, a slight increase of 0.56% from CNY 2,550,752,313.62 at the end of 2012[34]. - The company’s cash and cash equivalents increased by 50.66% to 285,251,726.71 CNY, primarily due to the proceeds from share transfers[75]. - The company reported that the associated debts did not impact its operating results or financial status[164].