CCJK(SH:600215)2014-04-24 16:00Financial Performance - The company's net profit for 2013 was CNY 29,847,074.05, with a statutory surplus reserve of CNY 2,984,707.41, and a cash dividend distribution of CNY 4,650,328.80 for the previous year[4] - The proposed cash dividend for 2013 is CNY 0.0524 per share, totaling CNY 2,438,594.06, which accounts for 30% of the net profit attributable to shareholders[5] - The company's operating revenue for 2013 was CNY 663,523,668.93, representing a 119.73% increase compared to CNY 301,971,223.26 in 2012[24] - The net profit attributable to shareholders decreased by 18.66% to CNY 8,128,646.88 from CNY 9,993,743.12 in 2012[24] - The basic earnings per share for 2013 was CNY 0.0175, down 18.60% from CNY 0.0215 in 2012[22] - The company reported a significant increase in non-operating income, with government subsidies amounting to CNY 51,000,000.00 in 2013, compared to CNY 1,200,000.00 in 2012[25] - The company reported a significant decrease in investment income, which fell by 78.02% to 25,005,877.96 yuan[41] - The total comprehensive income for the year was CNY 8,135,886.89, down from CNY 9,963,576.26, reflecting a decrease of approximately 18.4%[123] Assets and Liabilities - The total assets of the company increased by 6.19% to CNY 4,730,578,400.05 at the end of 2013, compared to CNY 4,455,002,800.52 at the end of 2012[24] - As of December 31, 2013, total assets amounted to CNY 4.73 billion, an increase of CNY 275.58 million from the previous year[30] - The company's total liabilities rose to CNY 2,320,552,888.43 from CNY 2,048,462,846.99, an increase of approximately 13.23%[118] - Current liabilities increased to ¥2,086,916,898.38 from ¥1,194,266,671.72, showing a significant rise of about 74.78%[118] - Short-term borrowings increased to ¥570,000,000.00 from ¥335,000,000.00, reflecting a growth of approximately 70.15%[118] - Total equity increased slightly to ¥2,410,025,511.62 from ¥2,406,539,953.53, indicating a marginal growth of approximately 0.15%[118] Cash Flow - The net cash flow from operating activities for 2013 was CNY -103,657,457.16, showing a significant improvement from CNY -576,962,460.58 in 2012[24] - The company reported a net cash flow from operating activities of -216,029,134.41 RMB, compared to -214,032,354.16 RMB in the previous year, indicating a slight increase in cash outflow[129] - Total cash inflow from investment activities was 131,876,958.44 RMB, down from 554,815,367.51 RMB in the previous year, reflecting a significant decrease of approximately 76.2%[130] - Cash inflow from financing activities totaled 756,000,000.00 RMB, compared to 1,080,000,000.00 RMB in the previous year, representing a decrease of about 30%[130] Revenue Sources - The real estate business generated revenue of CNY 259.91 million, accounting for 39% of total operating revenue, marking a significant growth in the company's main business[30] - The company received land development settlement payments totaling CNY 181.83 million during the reporting period, contributing to its revenue[32] - The revenue from entrusted land development was 225,978,635.36 yuan, with a gross margin of 28.93%[39] - The company achieved sales revenue of 187,190,055.10 RMB from goods and services, a significant increase from 21,836,014.33 RMB in the previous year, marking an increase of approximately 759%[129] Future Plans and Strategies - In 2014, the company plans to achieve total operating revenue of CNY 759.39 million, a 15% increase from the previous year[55] - The company aims for a net profit growth while maintaining steady revenue growth in the real estate sector[51] - The company will invest CNY 568 million in real estate construction in 2014, with specific projects including the completion of the Liuhe project phase one and the Xinglongshan project[56] - The company plans to enhance project management capabilities and improve profit margins amid increasing market competition[52] Governance and Management - The company has established a governance structure that includes a board of directors, supervisory board, and management team to ensure effective oversight[97] - The board of directors held 14 meetings during the year, with 10 conducted in person and 4 via communication methods[101] - The company has a diverse board with members having extensive experience in various sectors, enhancing its governance[86] - The company has implemented a clear performance evaluation and incentive mechanism for senior management, with annual assessments based on strategic goals[101] Risk Management - The company faces industry risks due to a slowdown in GDP growth, projected at around 7.5% for 2014, which may impact real estate investment and sales[57] - The company emphasizes the importance of cash flow in the capital-intensive real estate sector, highlighting risks associated with delayed sales and financing plans[57] - The company has identified potential risks in project operations due to the lengthy development cycle and various controllable and uncontrollable factors[57] Shareholder Information - The total number of shareholders at the end of the reporting period is 39,967, an increase from 39,023 prior to the annual report disclosure[77] - The largest shareholder, Changchun Economic and Technological Development Zone Venture Capital Holding Co., Ltd., holds 21.88% of shares, totaling 101,736,960 shares, with 50,862,500 shares pledged[77] - The company has not issued any securities or undergone any changes in share structure in the past three years[77] Audit and Compliance - The company received a standard unqualified audit opinion from Ruihua Certified Public Accountants for the financial statements for the year ended December 31, 2013[109] - There were no significant accounting errors or omissions reported during the year, ensuring the quality and transparency of financial disclosures[106] - The company has not faced any penalties or criticisms from the China Securities Regulatory Commission or stock exchanges during the reporting period[71]