JSSS(SH:600220)2015-04-10 16:00Financial Performance - In 2014, Jiangsu Sunshine achieved a net profit attributable to shareholders of RMB 78,920,295.20, a decrease of 26.18% compared to RMB 106,905,914.30 in 2013[4]. - The company's operating revenue for 2014 was RMB 2,265,201,877.00, reflecting a decline of 3.28% from RMB 2,342,008,104.40 in the previous year[24]. - The net cash flow from operating activities decreased by 46.56% to RMB 219,729,601.88 from RMB 411,174,979.87 in 2013[24]. - Basic earnings per share for 2014 were RMB 0.0443, down 26.04% from RMB 0.0599 in 2013[25]. - The company reported a net profit of RMB 71,283,965.38 after deducting non-recurring gains and losses, a decrease of 20.91% from RMB 90,134,689.96 in 2013[24]. - Operating profit was CNY 10,340,770, down 25.36% compared to the previous year[30]. - The company achieved a net profit contribution of 8,935,932.26 RMB from Huangtang Thermal Power, accounting for 11.32% of the listed company's net profit[57]. - The company reported a net loss reduction, with retained earnings improving from -¥325,244,134.31 to -¥246,323,839.11, a decrease in loss of approximately 24.29%[144]. Assets and Liabilities - The total assets of Jiangsu Sunshine at the end of 2014 were RMB 3,877,317,814.46, a slight increase of 0.75% from RMB 3,848,350,916.79 in 2013[24]. - The company's net assets attributable to shareholders increased by 3.78% to RMB 1,689,708,124.60 compared to RMB 1,628,183,018.61 at the end of 2013[24]. - Total liabilities decreased slightly to ¥1,956,841,989.67 from ¥1,926,502,928.77, a reduction of approximately 1.48%[143]. - Total equity rose to CNY 1,690,679,424.01, up from CNY 1,613,443,235.58, indicating an increase of 4.8%[148]. Revenue by Sector - The textile industry generated revenue of CNY 1,627,965,325.70, a slight decrease of 0.55% from the previous year[34]. - The thermal power sector reported revenue of CNY 598,301,412.10, down 10.99% year-on-year[34]. Research and Development - Research and development expenses were CNY 16,448,307.41, a decrease of 6.70% compared to the previous year[33]. - In 2014, the company applied for 84 patents and was granted 52, marking significant progress in technological innovation[54]. - The company will continue to focus on technological innovation and increase its technical innovation capabilities[61]. Corporate Governance - The company has established a performance evaluation mechanism for senior management based on annual operational goals[130]. - The company has implemented a strict information disclosure policy, ensuring timely and accurate communication with shareholders[116]. - The company respects and maintains the legitimate rights of shareholders, actively engaging with investors to gather feedback on operations and strategic development[116]. - The board of directors held a total of 8 meetings during the reporting period, all of which were in-person meetings[123]. Shareholder Information - The largest shareholder, Jiangsu Sunshine Group Co., Ltd., holds 150,663,362 shares, accounting for 8.448% of the total shares[94]. - The total number of shareholders increased to 176,273 by the end of the reporting period, up from 167,581 prior to the report[92]. - The company has no other corporate shareholders holding more than 10% of shares as of the end of the reporting period[99]. Risks and Challenges - The company has acknowledged the presence of risks in its future plans and strategies, advising investors to be cautious[5]. - The company faces risks from wool price fluctuations, which could impact product profitability, and is addressing labor cost challenges through improved employee benefits and automation[63]. - The company has established a raw material early warning mechanism to manage risks associated with raw material price volatility[64]. Cash Flow - The company reported a net cash outflow from investing activities of ¥179,305,628.18, worsening from a net outflow of ¥125,081,144.43 in the previous period[159]. - The net cash flow from financing activities is ¥85,499,381.76, an improvement from a net outflow of ¥559,795,914.60 in the previous period[159]. - The total cash and cash equivalents at the end of the period increased to ¥247,023,802.98 from ¥102,809,712.06, marking a substantial rise of 140.0%[162]. Employee Information - The total number of employees in the parent company is 4,368, while the main subsidiaries employ 1,609, resulting in a total of 5,977 employees[108]. - The company has a diverse educational background among its employees, with 8 holding master's degrees, 224 with bachelor's degrees, and 4,466 with high school education or below[108]. - The total payable remuneration for directors, supervisors, and senior management is 1.857 million yuan[105]. Future Plans - The company plans to enhance brand building and product competitiveness to maintain strong pricing power amid rising costs[61]. - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[146].