CC GAS(SH:600333)2014-04-08 16:00Financial Performance - The company's operating revenue for 2013 was CNY 1,749,371,528.38, representing a 1.30% increase compared to CNY 1,726,915,180.31 in 2012[18]. - The net profit attributable to shareholders for 2013 was CNY 38,198,058.43, a significant increase of 268.55% from CNY 10,364,429.01 in 2012[18]. - The basic earnings per share for 2013 was CNY 0.07, up 250.00% from CNY 0.02 in 2012[16]. - The total assets at the end of 2013 were CNY 3,747,839,923.03, reflecting a 27.72% increase from CNY 2,934,513,948.49 at the end of 2012[18]. - The net profit for the year was CNY 36.03 million, up by CNY 32.36 million year-on-year[22]. - The net profit for the year was reported at 38,198,058.43 RMB, with a net profit margin of 41.6%[57]. - The total profit amounted to CNY 43,457,862.70, a significant recovery from a loss of CNY 2,342,278.40 in the previous year[120]. - The net profit for the year was 40,169,883.90 RMB, compared to a net profit of 2,281,580.17 in the previous year[120]. Cash Flow and Financing - The net cash flow from operating activities for 2013 was CNY -17,078,841.00, compared to CNY -5,713,705.01 in 2012[18]. - The cash flow from financing activities was CNY 604.15 million, a significant increase of 250.74% year-on-year[22]. - The company raised CNY 462 million through a private placement to fund natural gas comprehensive utilization projects[19]. - The total cash inflow from financing activities reached 1,065,174,850.00 RMB, significantly higher than 470,000,000.00 RMB in the previous year, reflecting increased financing efforts[127]. - The net cash flow from financing activities was 574,147,968.31 RMB, up from 172,249,208.05 RMB year-over-year, showing improved financial health[127]. Assets and Liabilities - Cash and cash equivalents increased by 159.72% to CNY 383,546,709.67, representing 10.23% of total assets[34]. - Accounts receivable decreased by 42.07% to CNY 19,572,844.00, attributed to a reduction in customers settling payments via notes[35]. - The total current liabilities decreased to CNY 1,276,531,708.84 from CNY 1,498,898,421.48, reflecting a reduction of approximately 14.8%[109]. - The company's long-term investments rose to CNY 182,482,245.22 from CNY 168,163,932.54, indicating an increase of about 8.5%[108]. - The company's total liabilities were CNY 1,290,932,029.12, reflecting its financial obligations[137]. Market and Customer Base - The number of pipeline gas customers exceeded one million, reaching 1.05 million households, with gas sales volume surpassing 300 million cubic meters, marking a historical high[19]. - The gas business revenue increased by CNY 163.27 million, representing a growth of 32.29%[22]. - The company has a market share of over 80% in the urban market, with potential customer resources increasing by over 50,000 households annually[37]. - Revenue from Jilin Province was CNY 1,314,578,952.70, a decrease of 0.21% year-over-year, while revenue from outside Jilin Province was CNY 434,792,575.68, an increase of 6.17%[33]. Investments and Projects - The company completed the replacement of artificial coal gas for 170,000 households as part of the "coal-to-gas" project[19]. - The natural gas replacement project has achieved 68.21% of the planned progress, generating expected returns of CNY 2,638.68 million[43]. - The company plans to replace 100,000 to 150,000 coal gas users with natural gas in 2014, aiming to enhance profitability in the gas sector[51]. - The company has a total funding requirement of approximately CNY 970 million for ongoing projects, including the natural gas replacement project and urban pipeline renovation[52]. Corporate Governance and Management - The board of directors held a total of 8 meetings during the year, with no objections raised by independent directors on any resolutions[103]. - The company has implemented a responsibility system for significant errors in annual report disclosures to ensure the accuracy and completeness of financial information[106]. - The management team includes key figures such as the Chairman Zhang Zhichao and General Manager Liang Yongxiang[86]. - The company has made improvements to its internal control systems and has revised its articles of association to ensure compliance and stability[96]. Employee and Training - The total number of employees in the parent company is 1,835, and the total number of employees in major subsidiaries is 1,031, resulting in a combined total of 2,896 employees[91]. - The company conducted 9,446 hours of training with 42,000 participants in 2013, achieving an average of 60 hours of training per employee[92]. - The company has implemented a dynamic salary system that aligns employee compensation with company performance and industry standards[91]. Legal and Compliance - There were no significant lawsuits, arbitrations, or media disputes reported during the year[59]. - The company has not proposed any cash dividend distribution plans despite having positive undistributed profits[55]. - The independent auditor confirmed the effectiveness of the company's internal control over financial reporting, issuing a standard audit report[106]. Shareholder Structure and Capital - The total number of shares increased from 461,519,808 to 529,619,808 after a non-public issuance of 68.1 million shares, representing a 14.7% increase in total shares[69][70]. - The largest shareholder, Changchun Gas Holdings, holds 52.57% of the shares, totaling 278.4 million shares, with a reduction of 33.6 million shares during the reporting period[79]. - The company has a cash dividend policy that specifies a minimum distribution ratio, which was revised in 2012[54]. - The company’s capital reserve increased by RMB 393,674,850 due to the private placement[76].