HXSS(SH:600477)2014-04-18 16:00Financial Performance - The company's operating revenue for 2013 was CNY 3,973,767,350.30, representing a 30.59% increase compared to CNY 3,042,843,013.78 in 2012[20] - The net profit attributable to shareholders for 2013 was CNY 44,573,085.16, a significant turnaround from a loss of CNY 115,480,372.67 in 2012, marking a 138.60% improvement[20] - The net profit after deducting non-recurring gains and losses was CNY 36,068,961.07, compared to a loss of CNY 110,589,247.71 in the previous year, reflecting a 132.62% increase[20] - Cash flow from operating activities improved to CNY 89,056,468.23, a 195.26% increase from a negative cash flow of CNY 93,485,477.36 in 2012[20] - Total assets at the end of 2013 reached CNY 6,200,858,542.00, an 8.47% increase from CNY 5,716,911,120.90 in 2012[20] - The net assets attributable to shareholders increased by 5.98% to CNY 788,647,229.86 from CNY 744,114,618.04 in 2012[20] - Basic earnings per share for 2013 were CNY 0.096, a recovery from a loss of CNY 0.249 in 2012, representing a 138.60% increase[21] - The weighted average return on equity improved to 5.82% in 2013, up by 20.09 percentage points from -14.28% in 2012[21] Revenue and Contracts - New contracts signed in 2013 amounted to CNY 4.189 billion, a decrease of 11.70% year-on-year[26] - The company’s main business revenue reached CNY 3.974 billion, with significant contributions from property sales and multi-story steel structure projects[30] - The company reported a significant increase in revenue from the North China region, which surged by 376.37%[43] - The company reported a revenue of 1.2 billion yuan for the year 2013, reflecting a year-on-year increase of 15%[75] - The company has signed contracts for construction projects worth 1.5 billion yuan, indicating a strong pipeline for future revenue[75] Research and Development - The company’s R&D expenditure for the year was CNY 135.28 million, a slight increase of 2.14% from the previous year[30] - The company established four technical research institutes to enhance its R&D capabilities and product innovation[27] - The company acquired 44 new patents during the reporting period, including advancements in prefabricated construction technologies[37] - The company has allocated 200 million yuan for research and development in new technologies for steel production[75] - The company is actively pursuing new technology and product development to enhance its market position[77] Costs and Expenses - Total operating costs for 2013 were RMB 3,903,678,558.75, up from RMB 3,181,553,766.10, reflecting a year-over-year increase of 22.7%[149] - The production cost for multi-story steel structures was CNY 1,417,445,268.53, which is 42.04% of total costs, showing a 110.49% increase from the previous year[34] - Sales expenses increased by 2.13% to CNY 69,427,154.82, while management expenses rose by 21.30% to CNY 205,116,470.01[35] - The cost of raw materials, primarily steel, accounts for over 60% of total costs, making price fluctuations a significant risk for the company[68] Cash Flow and Financial Management - The company reported a significant reduction in expected liabilities by 75.33%, down to ¥14,569,084.96, due to the resolution of litigation cases[44] - The cash flow from tax refunds increased by 53.11% to CNY 17,552,956.18, primarily due to higher export sales[39] - The company is committed to improving financial management and increasing the recovery of receivables to ensure smooth cash flow[65] - The company has implemented strict cost control measures across all operational stages, including bidding, design, and production[64] Shareholder and Governance - The company has established a shareholder dividend return plan for 2013-2015 to ensure transparent profit distribution[70] - The total number of shareholders at the end of the reporting period is 48,849, an increase from 46,601 prior to the report[91] - The largest shareholder, Dan Yinmu, holds 173,418,198 shares, representing 37.42% of the total shares[93] - The company has maintained its auditor, Da Hua Accounting Firm, for 11 years, with an annual audit fee of 750,000 RMB[86] - The company has no significant contracts or guarantees related to daily operations[83] Legal and Compliance - The company is currently involved in several legal disputes, including construction contract disputes, with ongoing litigation processes[73] - The company has not reported any significant errors in its annual report disclosures during the reporting period[131] - The company has maintained independence from its controlling shareholder in business, personnel, assets, and financial matters[127] Employee and Management Structure - The total number of employees in the parent company is 2,119, while the total number of employees in major subsidiaries is 3,523, resulting in a combined total of 5,642 employees[109] - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 4.20 million yuan[108] - The company has appointed new independent directors as part of the board restructuring, including Zhu Su'e and Zhang Yaohua[108] - The company has a robust internal training system with nearly 100 internal trainers to meet diverse training needs across departments[111] Strategic Initiatives - The company plans to continue expanding its business in high-rise steel structures, light steel structures, and real estate development, which began to reflect in revenue in 2013[15] - The company plans to enhance its overseas market marketing efforts and innovate its franchise agency marketing model[64] - The company is exploring potential mergers and acquisitions to strengthen its supply chain and operational efficiency[75] - The company aims to achieve a main business revenue of 4.5 billion RMB in 2014, excluding real estate income[64]