CXPC(SH:600078)2014-03-21 16:00Financial Performance - The company's operating revenue for 2013 was approximately ¥2.46 billion, a decrease of 7.56% compared to ¥2.66 billion in 2012[23]. - The net profit attributable to shareholders for 2013 was approximately ¥23.62 million, down 14.26% from ¥27.55 million in 2012[23]. - The net cash flow from operating activities decreased by 34.52% to approximately ¥409.91 million in 2013 from ¥626.06 million in 2012[23]. - The total assets of the company at the end of 2013 were approximately ¥4.88 billion, a decrease of 15.88% from ¥5.80 billion at the end of 2012[23]. - The basic earnings per share for 2013 were ¥0.036, down 14.29% from ¥0.042 in 2012[24]. - The diluted earnings per share decreased by 26.53% to ¥0.036 in 2013 from ¥0.049 in 2012[24]. - The weighted average return on equity for 2013 was 1.35%, a decrease of 0.24 percentage points from 1.59% in 2012[24]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, resulting in a net loss of approximately ¥10.70 million in 2013[23]. - Operating profit for 2013 was CNY 18,046,200, a decline of 55.24% year-on-year, while net profit was CNY 48,566,500, down 1.95% from the previous year[29]. - The company reported a significant increase in other income, totaling CNY 404,905,980.89 in 2013, compared to CNY 24,436,288.52 in the previous year[165]. Revenue Breakdown - The company's revenue from phosphoric acid reached ¥1,554,022,911.86, with a gross margin of 12.28%, showing a year-on-year decrease of 2.38 percentage points[43]. - Revenue from phosphate sales was ¥426,632,039.44, with a gross margin of 12.21%, reflecting a year-on-year decline of 3.24 percentage points[43]. - The revenue from yellow phosphorus was ¥402,356,857.73, with a gross margin of 13.99%, indicating a slight increase of 0.10 percentage points year-on-year[43]. - Domestic sales revenue was ¥1,507,579,353.19, down 1.74% compared to the previous year, while export sales revenue was ¥875,432,455.84, down 11.64%[44]. Cash Flow and Assets - Cash and cash equivalents decreased by 46.22% to ¥713,504,254.10, accounting for 14.61% of total assets[45]. - Accounts receivable decreased by 77.65% to ¥57,580,036.26, representing 1.18% of total assets[45]. - The company increased its long-term borrowings by 172.73% to ¥150,000,000.00, now accounting for 3.07% of total assets[45]. - The construction in progress increased by 437.31% to ¥299,503,533.98, reflecting ongoing investments in new projects[45]. - The company reported a total current assets of CNY 2,177,551,862.13 as of December 31, 2013, down from CNY 3,355,023,124.98 at the beginning of the year, indicating a decrease of approximately 35%[158]. Investments and Projects - The company is actively pursuing new projects, including a 300,000-ton specialty phosphate project in Qinzhou, which is nearing completion[30]. - The company has ongoing investments in several projects, including approximately 50 million RMB for the Yunnan Mile Phosphorus Electric Tail Gas Utilization Project and 120 million RMB for the Guangxi Qinzhou Technology Phosphorus Chemical Technology Reform Project[68]. - The company is focusing on the integration of mining and electricity in the phosphorus industry to enhance cost advantages and technological capabilities[65]. Shareholder Information - The total number of shares remains unchanged at 662,572,861, with no changes in the shareholder structure during the reporting period[86][89]. - The total number of shareholders at the end of the reporting period is 79,676, an increase from 77,741 at the end of the fifth trading day prior to the report[91]. - Jiangyin Chengxing Industrial Group Co., Ltd. holds 25.78% of shares, totaling 170,826,693 shares, all of which are pledged[91]. - Jiangyin Hanying Investment Co., Ltd. holds 16.01% of shares, totaling 106,107,921 shares, all of which are also pledged[91]. Corporate Governance - The company has a strong commitment to corporate governance, with a well-structured board of directors and supervisory committee[102]. - The independent directors bring diverse backgrounds and expertise, contributing to the company's governance and strategic direction[103]. - The company maintained effective communication with investors through various channels, ensuring transparency and equal access to information[128]. - The governance structure of the company is compliant with relevant laws and regulations, ensuring effective decision-making and operational independence from the controlling shareholder[121]. Employee Information - The company employed a total of 2,765 staff, including 2,116 production personnel and 330 technical personnel[112]. - The number of employees with a college degree or above reached 856, representing approximately 31% of the total workforce[113]. - The company has established a training plan that includes new employee orientation and ongoing skills development for existing staff[115]. Financial Stability and Risks - The company is facing risks related to macroeconomic policies and industry fluctuations, particularly in the phosphorus chemical sector, which is experiencing structural overcapacity[69]. - The company aims to enhance its resource utilization and self-sufficiency in raw materials by increasing the integration of phosphorus and coal resources[69]. - The company is committed to increasing its environmental protection investments to meet stricter national requirements for energy conservation and emissions reduction[70].