Youngor(SH:600177)2014-03-24 16:00Financial Performance - The net profit of the parent company for 2013 was CNY 663,496,832.27, with a year-end distributable profit of CNY 2,850,979,598.72 after accounting for previous dividends[7]. - The basic earnings per share decreased by 14.88% to CNY 0.61 compared to CNY 0.72 in 2012[22]. - The weighted average return on net assets decreased by 2.28 percentage points to 9.69% from 11.97% in the previous year[22]. - The company reported a 41.32% increase in operating income compared to the previous year, driven primarily by the real estate sector[22]. - The diluted earnings per share also fell by 14.88% to CNY 0.61, consistent with the basic earnings per share[22]. - The net profit attributable to shareholders decreased by 14.88% to CNY 1,359,596,966.93, primarily due to non-operating expenses of CNY 48,420 million and asset impairment provisions of CNY 42,718 million[28]. - The net profit after deducting non-recurring gains and losses was CNY 2,466,803,474.18, reflecting a growth of 39.49% compared to the previous year[23]. - The company's total assets decreased by 3.76% to CNY 48,346,126,550.49 at the end of 2013[23]. - The company's total operating revenue was CNY 15,166,875,602.26, representing a year-on-year increase of 41.32%[23]. - The company reported a net profit of 1,359,596,966.93 RMB for the year 2013[84]. Revenue Segments - The real estate segment's revenue reached CNY 986,544.33 million, marking a significant increase of 91.27% year-on-year[22]. - The real estate segment's revenue increased significantly, contributing to a net profit of CNY 163,847.05 million, up 74.32% year-on-year[23]. - The retail environment for the apparel industry remained challenging, with the company's apparel segment achieving revenue of CNY 426,989.08 million, a growth of 4.57%[29]. - The real estate development segment reported revenue of 986,544.33 million RMB, a significant year-on-year growth of 91.27%[46]. - The company achieved a pre-sale revenue of CNY 14,782.71 million, an increase of 84.18% year-on-year[37]. Cash Flow and Investments - The net cash flow from operating activities was CNY 5,801,863,355.87, an increase of 9.66% year-on-year[23]. - The company repaid CNY 300,680.84 million in loans during the year, indicating improved cash flow management[28]. - The company's cash flow from investing activities improved by 145,922.52 million RMB, reaching -42,224.15 million RMB compared to the previous year[45]. - The company's cash flow from financing activities resulted in a net outflow of -¥5,280,666,275.58, compared to -¥623,955,140.77 in the previous period[173]. - The ending cash and cash equivalents balance increased to ¥1,798,171,836.50 from ¥1,507,906,718.28 in the previous period[173]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares to all shareholders, totaling CNY 1,113,305,847.50 for the previous year[7]. - The company distributed cash dividends of 1,113,305,847.50 RMB, accounting for 69.70% of the net profit attributable to shareholders for the year 2013[82]. - The company has cumulatively distributed cash dividends totaling 8.152 billion RMB since its listing in 1998, with 15 distributions to date[82]. - The largest shareholder, Ningbo Yageer Holdings Co., Ltd., holds 31.41% of the shares, totaling 699,272,181 shares, with 415,220,000 shares pledged[106]. Operational Efficiency and Management - The company has no non-operating fund occupation by controlling shareholders or related parties[8]. - The company will not implement a capital reserve transfer to increase share capital for the year[7]. - The implementation of the ERP system has led to a 3.8% reduction in production costs and a 2% increase in product quality, while the average production cycle has been shortened by 7-10 days[56]. - The company has established a salary system that links performance to compensation, with frontline employees on a piece-rate system and management on an annual salary system[124]. - The company conducted internal training focusing on management capabilities, professional skills, and comprehensive applications, addressing safety production and management skills[125]. Market and Strategic Outlook - The company plans to launch 10 new projects in 2014, with an estimated new saleable amount of approximately 1,766.46 million yuan[74]. - The apparel segment anticipates a domestic sales revenue growth of 3%-10% compared to the previous year[71]. - The company aims to explore new business models while enhancing traditional sales channels, focusing on self-operated, mall, franchise, and group purchase strategies[73]. - The investment business will continue to focus on maintaining a stable investment return while adjusting the investment structure[75]. - The company is adapting to the challenges posed by e-commerce and new business models, leveraging its traditional channel advantages[79]. Governance and Compliance - The company has maintained a cash dividend policy, distributing 5 RMB per 10 shares in 2013[84]. - The company has engaged in significant related party transactions, including procurement of fabrics and garments from related companies[89]. - The company established a comprehensive internal control system to ensure compliance and safeguard assets, with improvements made to the internal control manual during the reporting period[146]. - The internal control audit report issued by the auditing firm was unqualified, indicating no significant issues were found[147]. - The company confirmed no issues regarding independence from its controlling shareholder in terms of business and financial operations[143].