GETM(SH:600232)2015-07-02 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 25,698,436.61, representing a 122.80% increase compared to RMB 11,534,202.32 in 2013[5]. - Operating revenue for 2014 was RMB 1,175,972,283.07, a decrease of 6.87% from RMB 1,262,715,890.32 in 2013[28]. - The basic earnings per share increased to RMB 0.07, up 133.34% from RMB 0.03 in 2013[29]. - The net profit after deducting non-recurring gains and losses was RMB 23,163,158.14, a significant increase of 336.66% from RMB 5,304,665.07 in 2013[28]. - The company reported a net profit attributable to shareholders of 25,700,000, an increase of 122.81% year-on-year[37]. - The net profit of Jiangsu Silk and Hemp Company for 2014 was approximately 4.83 million RMB, showing a slight increase from the previous year[68]. - The company’s plastic machinery division reported a net profit of approximately 7.74 million RMB in 2014, a decrease of 43.90% compared to 2013[70]. - The overall revenue for Jiangsu Silk and Hemp Company decreased by approximately 5.65% from 2013 to 2014, while the operating profit remained relatively stable[68]. - The company reported a total profit of ¥43,251,455, an increase of 163.5% compared to ¥16,371,336 in the previous period[170]. - Net profit for the year reached CNY 27,220,021.51, an increase of 87.36% compared to CNY 14,520,302.93 in the previous year[166]. Revenue and Costs - The company reduced operating costs by 8.17% to CNY 995,008,815.13, while sales expenses decreased by 23.71%[41]. - Total operating costs amounted to CNY 1,135,082,841.29, down 8.23% from CNY 1,237,180,528.83 in the prior year[166]. - The textile machinery segment generated revenue of CNY 24,599,000, down 2.28% year-on-year, with a gross profit of CNY 7,079,000, up 2.57%[38]. - The textile industry revenue was CNY 65,450,000, a decrease of 5.14%, while the gross profit increased by 15.09% to CNY 7,018,000[38]. - The plastics machinery segment faced significant challenges, with revenue of CNY 17,653,000, down 21.36% year-on-year[38]. - The knitting and apparel segment reported revenue of CNY 8,916,000, an increase of 4.47% year-on-year[39]. Cash Flow and Assets - The cash flow from operating activities was RMB 82,263,900.10, down 29.13% from RMB 116,073,094.04 in 2013[28]. - The company’s total assets showed a significant increase in other current assets by 368.86% to ¥2,806.52 million, primarily due to increased VAT input tax credits[59]. - Cash and cash equivalents at the end of the period were CNY 362,338,139.35, down from CNY 391,989,699.66 at the beginning of the year[159]. - The company had short-term borrowings of CNY 251,300,000.00, reduced from CNY 311,940,592.89 at the beginning of the year, indicating improved liquidity management[161]. - Cash and cash equivalents at the end of the period decreased to ¥257,336,498, down from ¥273,224,978 at the beginning of the period[174]. Dividends and Shareholder Information - The company proposed a cash dividend of RMB 0.8 per 10 shares, based on a total share capital of 364,718,544 shares[5]. - The company plans to distribute a total dividend of 29,177,483 RMB (including tax) to all shareholders despite significant operational pressure in 2014[86]. - The total number of shareholders at the end of the reporting period was 22,458, an increase from 21,885 prior to the annual report disclosure[108]. - The largest shareholder, Zhejiang Jinying Group Co., Ltd., held 170,952,293 shares, representing 46.87% of the total shares, with 161,000,000 shares pledged[110]. Research and Development - Research and development expenses were CNY 23,895,062, a decrease of 3.31% compared to the previous year[41]. - The company focused on product development and technological innovation to enhance core competitive advantages[37]. - The company successfully developed a new six-axis robotic arm, receiving local government support for its commercialization[51]. - The company has developed a new silk spinning technology capable of producing high-quality silk yarns with a strength of over 300N/2[62]. Corporate Governance and Compliance - The company has improved its corporate governance structure and information disclosure practices, ensuring transparency and compliance with relevant laws and regulations[136]. - The company has established internal controls for accounts receivable to mitigate the risk of bad debts[79]. - The company has not reported any significant litigation or arbitration matters that could impact its financial position[92]. - The company has not reported any violations of environmental regulations during the reporting period and has actively engaged in clean production initiatives[89]. Market and Industry Trends - The textile machinery manufacturing industry in China is becoming a pillar industry with comprehensive capabilities and independent R&D innovation[73]. - The overall market for injection molding machines has seen a decline of about 20% in exports, primarily due to reduced demand from Brazil and Turkey[74]. - The company is focusing on developing cost-effective blended products to address challenges in the silk spinning industry due to rising raw material prices and external competition[73]. Future Outlook - In 2015, the company plans to achieve a revenue of 1.3 billion RMB[76]. - The company aims to enhance brand management and international trade competitiveness while optimizing its industrial structure[76]. - The company plans to strengthen its marketing team and expand domestic sales to mitigate market risks from intensified competition[78].