YTO(SH:600233)2014-03-24 16:00Financial Performance - In 2013, the company achieved a consolidated net profit of CNY 76,559,206.69, while the parent company net profit was CNY 76,993,589.03, representing a decrease of 29.67% compared to the previous year[5]. - The company's operating revenue for 2013 was CNY 808,482,575.36, down 5.57% from CNY 856,128,236.01 in 2012[26]. - The total profit for the year was CNY 106.29 million, down 25.76% year-on-year[35]. - Net profit for 2013 was CNY 76.56 million, reflecting a decline of 27.23% compared to the previous year[35]. - The basic earnings per share for 2013 were CNY 0.3282, down 29.68% from CNY 0.4667 in 2012[27]. - The company reported a 43.63% decrease in net profit after deducting non-recurring gains and losses, amounting to CNY 38,662,592.22[26]. - The weighted average return on net assets decreased to 5.39% from 8.01% in the previous year[27]. - The company's revenue decreased by 5.57% year-on-year due to competitive pricing pressure in Southeast Asia and the integration of the domestic workwear market[43]. - The company achieved a total revenue of approximately RMB 876.99 million in 2013, with a net profit of RMB 78.87 million, reflecting a significant year-on-year growth[75]. - The company reported a net profit increase of CNY 54,153,851.72 during the year, contributing to a total comprehensive income of CNY 76,434,443.89[189]. Cash Flow and Assets - The cash flow from operating activities increased by 66.21% to CNY 87,903,723.84 compared to CNY 52,885,721.70 in 2012[26]. - The total assets at the end of 2013 were CNY 1,354,918,393.00, a slight decrease of 0.81% from CNY 1,365,953,906.42 in 2012[26]. - Cash and cash equivalents decreased from CNY 376,810,636.53 at the beginning of the year to CNY 322,171,840.19 by year-end[167]. - The company's retained earnings rose from CNY 561,785,540.31 to CNY 583,490,033.13, reflecting a positive net income for the year[169]. - The total assets of Dalian Dayang Chuangshi Company as of December 31, 2013, amounted to CNY 1,354,918,393.00, a slight decrease from CNY 1,365,953,906.42 at the beginning of the year[167]. Dividends and Shareholder Information - The company proposed a cash dividend of CNY 1.50 per 10 shares, totaling CNY 24,750,000, which accounts for 35.72% of the distributable profit for the year[5]. - The company distributed dividends totaling CNY 24,750,000.00, an increase from CNY 19,800,000.00 in the previous year, representing a growth of about 25%[186]. - The largest shareholder, Dayang Group Co., Ltd., holds 40.08% of the shares, totaling 66,130,000 shares, with a decrease of 170,000 shares during the reporting period[114]. - The total number of shareholders at the end of the reporting period was 23,775, a slight decrease from 23,468 five trading days prior[114]. Operational Highlights - The company's main business revenue for 2013 was CNY 808.48 million, a decrease of 5.57% compared to the previous year[35]. - The company opened 9 new stores for its high-end brand "Chuangshi," achieving a 15% increase in overall sales despite market challenges[36]. - The U.S. subsidiary "T-BY-TRANDS" saw a 110% increase in sales, with nearly 170 custom cooperation stores established[39]. - The sales volume of suits increased by 13.33% year-on-year, while the sales volume of other clothing decreased by 21.78%[45]. Research and Development - Research and development expenses rose by 24.89% to CNY 14.30 million[42]. - Research and development expenses totaled 14,297,370.35 CNY, accounting for 1.77% of total revenue[52]. Financial Strategy and Investments - The company has engaged in various financial products with different banks, showcasing a diverse investment strategy[68]. - The total amount of entrusted financial products across various banks reflects the company's strategy to optimize returns through diversified financial instruments[68]. - The company plans to continue rolling investments in entrusted financial management with terms generally ranging from 6 to 12 months[70]. - The average return rate on entrusted financial products was reported at 8.3%[70]. Governance and Compliance - The company has maintained a strict governance structure, ensuring compliance with laws and regulations, and has established a sound internal control system[141]. - The company reported a standard unqualified audit opinion for the 2013 financial statements from the auditing firm, indicating compliance with accounting standards[161]. - The audit committee supervised the preparation of the annual report and reviewed financial statements before submission to the board[150]. Challenges and Risks - The company faces significant risks in 2014, including market competition, exchange rate fluctuations, and the impact of e-commerce on traditional sales models[83]. - The company anticipates challenges in the apparel export market due to rising material costs and increased competition from Southeast Asian countries[78].