YXMC(SH:600213)2014-04-15 16:00Financial Performance - The company achieved a net profit of CNY 5,628,967.32, with a net profit attributable to shareholders of CNY 5,243,770.76, representing a decrease of 11.29% compared to the previous year[5]. - Operating revenue for the year was CNY 1,208,216,304.58, an increase of 21.32% from CNY 995,916,313.45 in 2012[20]. - The basic earnings per share decreased by 33.33% to CNY 0.02 from CNY 0.03 in 2012[18]. - The company reported a net cash flow from operating activities of -CNY 35,247,310.03, an improvement from -CNY 91,998,612.56 in the previous year[20]. - The company faced challenges with a net loss attributable to shareholders after deducting non-recurring gains and losses, amounting to -CNY 44,347,849.66[20]. - The net profit attributable to shareholders was CNY 5,240,000, a decrease of 11.34% compared to the previous year[22]. - The company reported a significant increase in government subsidies recognized in the current period, amounting to CNY 39,088,721.18 compared to CNY 5,748,000.00 in 2012[19]. - The company reported a total comprehensive income of ¥4.7 million for 2013, compared to ¥5.9 million in the previous year, reflecting a decline of 20.4%[137]. Assets and Liabilities - Total assets increased by 54.09% to CNY 1,821,523,230.41 from CNY 1,182,096,249.00 in 2012[20]. - The company’s net assets attributable to shareholders increased by 2.88% to CNY 190,415,115.05 from CNY 185,091,283.10 in 2012[20]. - The total liabilities increased to CNY 1,476,923,458.65 from CNY 997,004,965.90, marking a rise of approximately 48.4%[133]. - The company's total equity at the end of 2013 was CNY 189,531,456.67, slightly up from CNY 185,091,283.10, showing a growth of about 2.6%[133]. Sales and Market Performance - In 2013, the company sold 3,934 buses, a year-on-year decrease of 1.40%, while its subsidiary Fengtai Automobile sold 262 buses, an increase of 73.51%[22]. - The total sales revenue reached CNY 1,208,216,304.58, representing a year-on-year growth of 21.32%[24]. - Sales revenue from new energy buses reached CNY 9,372,800, a year-on-year increase of 93.71%[25]. - The overseas market sales saw a significant increase of 233.05% year-on-year, while domestic sales grew by 1.40%[35]. Research and Development - The company's R&D expenditure totaled CNY 67,427,497.61, an increase of 89.64% year-on-year, accounting for 5.58% of total revenue[31]. - The company is actively engaged in the development and production of new energy buses and clean energy buses to contribute to an energy-saving and environmentally friendly society[56]. - The company is investing 100 million yuan in R&D for advanced vehicle technologies over the next two years[93]. Corporate Governance and Management - The company has established a comprehensive quality management system to ensure product quality and safety in production[56]. - The company has implemented a performance evaluation mechanism for senior management based on sales revenue, profit, and cash flow, enhancing accountability and management effectiveness[116]. - The company strictly adheres to legal requirements for corporate governance, ensuring equal rights for all shareholders, especially minority shareholders[107]. - The management team includes individuals with extensive backgrounds in both operational and strategic roles within the automotive industry[88]. Investments and Acquisitions - The company made an investment of CNY 83,279,000 to acquire a 51.53% stake in Xiamen Fengtai International New Energy Automobile Co., Ltd.[43]. - The company acquired 51.53% equity of Xiamen Fengtai International New Energy Vehicle Co., Ltd. for RMB 83.2759 million through equity change and capital increase[64]. - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 25%[93]. Employee and Shareholder Information - The total number of shares remained unchanged at 22 million shares during the reporting period[76]. - The company has 15,918 shareholders as of the end of the reporting period, an increase from 15,329 five trading days prior[81]. - The total remuneration for the board members and senior management during the reporting period amounted to 2,828,000 RMB (28.28 million RMB) before tax[87]. - The total number of employees in the parent company is 1,538, while the total number of employees in major subsidiaries is 294, resulting in a combined total of 1,832 employees[101]. Financial Controls and Audit - The company received a standard unqualified audit opinion from Shandong Hexin Accounting Firm, confirming the fairness of its financial statements[122][126]. - The internal control system is designed to ensure compliance, asset security, and accurate financial reporting, with the board of directors responsible for its establishment and implementation[118]. - The company has not experienced any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[110]. Future Outlook - The company aims to achieve sales revenue of over CNY 1.6 billion in 2014, ensuring profitability[52]. - The company has set a future outlook with a revenue target of 2 billion yuan for the next fiscal year, reflecting a 33% growth expectation[93]. - The company plans to secure approximately CNY 400 million in funding to maintain current operations and complete ongoing investment projects[52].