ETERN(SH:600105)2014-04-21 16:00Financial Performance - In 2013, the company achieved a net profit of RMB 243,100,247.61, with a consolidated net profit attributable to shareholders of RMB 179,414,431.64, marking a significant increase of 1,481.97% compared to the previous year[3]. - The company's operating revenue for 2013 was RMB 1,138,593,385.40, representing a decrease of 16.92% from RMB 1,370,540,277.31 in 2012[18]. - The basic earnings per share for 2013 was RMB 0.47, a substantial increase from RMB 0.03 in 2012, reflecting a growth of 1,466.67%[18]. - The total assets of the company decreased by 28.4% to RMB 2,730,474,250.45 in 2013, down from RMB 3,813,416,607.10 in 2012[18]. - The cash flow from operating activities for 2013 was RMB 63,232,340.71, a decline of 30.23% compared to RMB 90,624,062.58 in 2012[18]. - The company's net assets attributable to shareholders increased by 10% to RMB 1,555,787,923.79 at the end of 2013, compared to RMB 1,414,410,654.85 at the end of 2012[18]. - The weighted average return on equity for 2013 was 12.08%, an increase of 11.27 percentage points from 0.81% in 2012[18]. - The company's main business revenue for 2013 was CNY 1,075,335,296.82, a decrease of 17.61% compared to the previous year[27]. - The overseas engineering segment generated revenue of CNY 124,703,593.91, down 42.47% year-on-year, primarily due to the completion of previous projects[27]. - The real estate segment reported revenue of CNY 45,159,169.58, a decline of 35.75% year-on-year, as projects reached completion and new projects did not meet revenue recognition criteria[27]. Investment and R&D - The company’s R&D expenditure for the year was CNY 76,212,511.68, reflecting a 5.81% increase compared to the previous year[27]. - The company developed 15 new products during the year, with nine already launched in the market[38]. - The company has a robust research and development team, with partnerships for advanced technology projects, enhancing its innovation capabilities[45]. - The company has made significant progress in R&D, particularly in the development of new high-temperature superconducting materials, with all necessary production and testing equipment in place[72]. - The company has been awarded a task under the National High Technology Research and Development Program (863 Program) for 2014, indicating ongoing commitment to innovation[72]. Market Strategy and Expansion - The company plans to expand its international market presence, particularly in Africa, with expectations of breakthroughs in 2014[25]. - The company is focusing on developing four key segments: optical communication, special cables (copper cables), EPC overseas power engineering, and superconducting new materials[58]. - The company intends to reduce reliance on the three major telecom operators by actively exploring non-operator and overseas markets[63]. - Jiangsu Yongding Co., Ltd. has initiated a new overseas market department to strengthen its presence in Southeast Asia, Central Asia, and Russia[47]. Financial Management and Shareholder Relations - The company plans to distribute a cash dividend of RMB 2 per 10 shares, totaling RMB 76,190,929.2, leaving a retained earnings balance of RMB 526,014,482.46 for the next fiscal year[4]. - The company reported a net profit of 179,414,431.64 RMB for 2013, with a cash dividend payout ratio of 42.47%[68]. - The company has revised its profit distribution policy to prioritize cash dividends, enhancing transparency and protecting shareholder rights[67]. - The company emphasizes corporate social responsibility, engaging in charitable activities and ensuring employee welfare[70]. - The company has implemented a strict insider information management system, ensuring compliance and preventing insider trading incidents[122]. Corporate Governance - The company held a total of 10 board meetings during the reporting period, with 5 conducted in person and 4 via communication methods[128]. - The audit committee reviewed the financial statements and confirmed that the 2012 annual financial report accurately reflects the company's overall situation, recommending its submission to the board[130]. - The company has established a performance evaluation mechanism for senior management, linking their compensation to the completion of annual work goals and operational plans[134]. - The company received a standard unqualified audit opinion from Ruihua Accounting Firm for its 2013 financial statements[141]. Asset and Liability Management - The company's total liabilities decreased from CNY 2,177,703,390.41 to CNY 1,095,314,115.38, indicating a reduction of about 49.7%[144]. - The total equity attributable to shareholders increased from CNY 1,414,410,654.85 to CNY 1,555,787,923.79, reflecting an increase of approximately 10%[144]. - The company's short-term borrowings decreased from CNY 1,037,200,000.00 to CNY 370,000,000.00, a decline of approximately 64.3%[144]. - The total current assets decreased from CNY 2,681,930,386.16 to CNY 1,611,538,485.25, a decrease of about 40%[143]. Compliance and Risk Management - The company has not engaged in any entrusted financial management or loans during the year[47]. - There were no violations of decision-making procedures regarding external guarantees during the reporting period[4]. - The company has not reported any significant changes in shareholding among its directors and senior management during the reporting period[100]. - The company has not experienced any changes in share capital during the reporting period[91].