WSBE(SH:600421)2016-04-27 16:00Financial Performance - The company's net profit attributable to shareholders for 2015 was CNY 186,924.53, a decrease of 91.38% compared to CNY 2,169,673.81 in 2014[3]. - Total revenue for 2015 was CNY 27,852,365.17, down 36.86% from CNY 44,112,971.66 in 2014[19]. - Basic earnings per share for 2015 were CNY 0.001, a decrease of 90% from CNY 0.01 in 2014[20]. - The company reported a net asset value attributable to shareholders of CNY 5,643,725.95 at the end of 2015, an increase of 3.43% from CNY 5,456,801.42 at the end of 2014[19]. - The company reported a financial expense of -2,318.71 yuan, a decrease of 94.47% compared to the previous year[39]. - The company reported a total comprehensive income of ¥1,075,218.72, down from ¥3,676,154.96, reflecting a decrease of approximately 71%[118]. - The company reported a total operating cash inflow of only 1,832.59 RMB, a drastic drop from 15,756,331.48 RMB in the previous period[126]. Cash Flow and Liquidity - The company's operating cash flow for 2015 was negative CNY 3,712,043.41, a decline of 288.75% compared to positive CNY 1,966,645.52 in 2014[19]. - Cash and cash equivalents decreased by 10.58% to CNY 3,055,512.91, accounting for 3.86% of total assets[42]. - The ending balance of cash and cash equivalents decreased to 3,055,512.91 RMB from 13,367,231.53 RMB, reflecting a net decrease of 10,311,718.62 RMB[124]. - The company experienced a total cash flow net decrease of 10,311,718.62 RMB during the period[124]. Operational Efficiency - Operating costs decreased by 38.06% to 18.21 million yuan, reflecting the decline in sales revenue[32]. - Management expenses were reduced by 27.00% to 6.54 million yuan due to personnel streamlining and cost control measures[39]. - The company plans to focus on cost control and efficiency improvements in response to the declining revenue trends[117]. Market Conditions - The decline in orders from downstream enterprises was the primary reason for the drop in sales revenue[33]. - The overall market environment for diesel engine parts manufacturing was negatively impacted by the construction and heavy machinery sectors[27]. - The company maintained a stable operation in the face of a sluggish market by focusing on internal resource optimization[29]. Shareholder Information - The company plans not to distribute profits for 2015, nor to allocate statutory surplus reserves or issue dividends[3]. - The total number of ordinary shareholders at the end of the reporting period was 10,321, an increase from 9,015 at the end of the previous month[60]. - The company has not proposed any cash dividend distribution for the past three years[49]. Governance and Compliance - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[6]. - The company has established a governance structure that complies with the Company Law and Securities Law, enhancing internal control and information disclosure[90]. - The company ensures fair treatment of all shareholders, allowing equal rights for minority and major shareholders[91]. Employee Information - The company has a total of 84 employees, with 9 in the parent company and 75 in major subsidiaries[86]. - The employee composition includes 29 production personnel, 5 sales personnel, 20 technical personnel, 7 financial personnel, and 23 administrative personnel[86]. - The company implements a structured salary system that prioritizes key positions in research, management, and production[87]. Assets and Liabilities - The company's total assets decreased by 14.49% to CNY 79,134,577.68 at the end of 2015, down from CNY 92,546,648.00 at the end of 2014[19]. - Total liabilities decreased from RMB 74,154,207.44 to RMB 59,666,918.40, a decline of around 19.5%[112]. - Owner's equity increased from RMB 18,392,440.56 to RMB 19,467,659.28, an increase of approximately 5.9%[113]. Investment and Capital Structure - The company has not made any significant equity or non-equity investments during the year[43]. - The company did not report any major environmental protection issues as it is not classified as a heavily polluting industry[58]. - The company did not engage in any entrusted loans or other investment management activities[58]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the going concern principle, indicating no significant issues affecting the company's ability to continue operations for at least 12 months[144]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect its financial status and operating results[146]. - The company recognizes investment income from the disposal of subsidiaries or businesses from the beginning of the reporting period to the disposal date[156].