CHIXIA DEVELOPMENT(SH:600533)2014-04-01 16:00Financial Performance - In 2013, the company achieved a net profit of CNY 354,018,375.84, with a distribution of cash dividends totaling CNY 105,000,000.00, resulting in a year-end distributable profit of CNY 785,989,603.68[5]. - The company's operating revenue for 2013 was CNY 2,157,277,405.29, representing a decrease of 18.58% compared to CNY 2,649,556,073.62 in 2012[22]. - The net profit attributable to shareholders decreased by 45.49% to CNY 172,415,062.59 in 2013 from CNY 316,281,277.12 in 2012[22]. - The total profit amounted to CNY 284.56 million, reflecting a 50.37% decline compared to the previous year[45]. - The gross profit margin for 2013 was 26.47%, a decrease of 15.87% from the previous year, primarily due to lower margins from specific projects[40]. - The company reported a total revenue of 300 million in 2012, indicating a significant growth compared to previous years[97]. - The net profit for the year was CNY 258,139,987.16, contributing to the overall increase in retained earnings[197]. Assets and Liabilities - The company's total assets increased by 15.44% to CNY 14,029,035,768.13 at the end of 2013, compared to CNY 12,152,665,646.96 at the end of 2012[22]. - Total liabilities rose to CNY 10,159,365,431.55, compared to CNY 8,219,663,574.00, indicating an increase of 23.6%[171]. - The company's equity attributable to shareholders was CNY 3,704,815,530.98, compared to CNY 3,573,928,141.97, marking an increase of 3.7%[171]. - The total current assets as of December 31, 2013, amounted to CNY 12,466,816,084.43, an increase from CNY 10,668,541,046.78 at the beginning of the year, reflecting a growth of approximately 16.8%[169]. - The total amount of unallocated profits at the end of 2013 was CNY 785,989,603.68, indicating a healthy retained earnings position[195]. Cash Flow - The net cash flow from operating activities significantly improved to CNY 806,611,661.78 in 2013, up 159.96% from CNY 310,280,523.88 in 2012[22]. - The cash flow from operating activities for 2013 was CNY 806,611,661.78, significantly higher than CNY 310,280,523.88 in the previous year, marking a growth of 159.8%[184]. - The total cash inflow from operating activities reached ¥2,641,951,900.40, up from ¥1,740,084,412.16 in the previous year, indicating a growth of approximately 52%[187]. - The net cash flow from financing activities decreased by 154.97% to -RMB 719,372,225.01, primarily due to increased loan repayments[53]. Investments and Projects - The company achieved a total contract sales amount of 3.263 billion RMB, with residential sales amounting to 2.837 billion RMB and a sales area of 235,300 square meters[34]. - The company participated in the construction of a total building area of 411,700 square meters for the second phase of the Dingjiazhuang affordable housing project, acting as the construction agent without bearing project financing costs[34]. - The company invested 36.78 million RMB in Shanghai Zhongcheng Alliance Investment Management Co., Ltd., acquiring 30 million shares, as part of its strategy to expand profit channels[36]. - The company plans to establish a fund management company with a registered capital of 10 million RMB, aiming to manage real estate investment funds and enhance profitability[36]. Shareholder and Dividend Information - The company distributed a cash dividend of 0.1 RMB per share, totaling 105 million RMB for the year 2013, which represents 60.90% of the net profit attributable to shareholders[86]. - The company has maintained a consistent cash dividend distribution of 105 million RMB for the past three years, with net profit attributable to shareholders of 316.28 million RMB in 2012 and 273.85 million RMB in 2011, reflecting a payout ratio of 33.20% and 38.34% respectively[86]. - The company has not proposed any cash dividend distribution plan for the current year despite having positive undistributed profits, which is not applicable for disclosure[86]. Management and Governance - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 7.5648 million yuan[131]. - The company has established a sound corporate governance structure, with no reported instances of insider trading affecting stock prices[144]. - The board of directors held 14 meetings during the reporting period, ensuring compliance with legal and regulatory requirements[141]. - The company has a stable management team with low employee turnover, contributing to strong cohesion and commitment to the company's vision[133]. Market and Economic Environment - The national real estate development investment increased by 19.8% year-on-year, with residential sales area growing by 17.5% and sales revenue by 26.6%[31]. - The average land purchase price nationwide rose by 23% year-on-year, indicating a robust market environment[31]. - The company recognizes the need to adapt its product structure and operational strategies in response to the evolving market landscape influenced by mobile internet and big data[33].