EGING PV(SH:600537)2015-04-13 16:00Financial Performance - The company's operating revenue for 2014 was approximately RMB 3.25 billion, representing a year-on-year increase of 20.78% compared to RMB 2.69 billion in 2013[23]. - The net profit attributable to shareholders for 2014 was approximately RMB 119.86 million, a significant increase of 74.02% from RMB 68.88 million in 2013[23]. - The net profit after deducting non-recurring gains and losses was approximately RMB 107.48 million, up 68.73% from RMB 63.70 million in 2013[23]. - The company's total revenue for 2014 was RMB 3,249,278,429.74, representing a 20.78% increase year-on-year[35]. - The net profit attributable to shareholders was RMB 11,985.64 million, reflecting a significant growth of 74.02% compared to the previous year[34]. - The company's total operating revenue for 2014 reached ¥3,249,278,429.74, an increase of 20.8% compared to ¥2,690,140,877.72 in the previous year[173]. - The net profit for the year was ¥115,186,671.32, a significant increase of 71.2% from ¥67,304,770.79 in the previous year[174]. Earnings and Dividends - The basic earnings per share for 2014 were RMB 0.25, reflecting a growth of 78.57% compared to RMB 0.14 in 2013[24]. - The diluted earnings per share for 2014 were also RMB 0.25, consistent with the basic earnings per share[24]. - The company plans to distribute a cash dividend of RMB 0.11 per share based on a total share capital of 588,179,634 shares[2]. - The profit distribution plan for 2014 included a cash dividend totaling CNY 64,699,759.74, representing 53.98% of the net profit attributable to shareholders[88]. Assets and Liabilities - The company's total assets at the end of 2014 were approximately RMB 5.37 billion, an increase of 11.01% from RMB 4.83 billion at the end of 2013[23]. - The company's net assets attributable to shareholders at the end of 2014 were approximately RMB 1.36 billion, an increase of 8.82% from RMB 1.25 billion at the end of 2013[23]. - Total liabilities amounted to RMB 3,993,821,693.15, compared to RMB 3,557,189,895.35 at the beginning of the year, reflecting an increase of about 12.3%[169]. - The company's equity attributable to shareholders increased to RMB 1,358,962,804.99 from RMB 1,248,762,922.79, showing a growth of approximately 8.8%[169]. Cash Flow - The net cash flow from operating activities for 2014 was approximately RMB 202.14 million, a decrease of 71.75% from RMB 715.63 million in 2013[23]. - The company's gross profit margin was impacted by a 21.31% increase in operating costs, which rose to RMB 2,636,131,358.56[35]. - The company's cash flow from operating activities was CNY 202,140,812.72, a decrease from CNY 715,634,734.12 in the previous period, indicating a decline of approximately 71.8%[182]. Research and Development - Research and development expenses increased by 35.21% to RMB 109,254,918.48, indicating a strong commitment to innovation[35]. - The company authorized 52 patents during the reporting period, including 33 invention patents, enhancing its innovation capabilities[31]. - The company has invested over 20 million RMB in establishing research and development platforms since its inception, enhancing its technological innovation capabilities[58]. Market Performance - The company achieved a sales volume of 690MW in the domestic market, a 40% increase compared to the previous year, setting a new historical high[30]. - Domestic revenue reached ¥2,525,367,670.10, an increase of 35.19% year-over-year, while international revenue declined to ¥719,942,310.34, a decrease of 11.99% due to anti-dumping measures in the EU market[51]. - The company plans to expand its market presence by adjusting product sales types to meet foreign non-EU market demands[49]. Operational Challenges - The company’s operating cash flow decreased by 71.75% to RMB 202,140,812.72, indicating potential liquidity challenges[35]. - The company faces risks from changes in photovoltaic industry policies, particularly in Europe, where countries have reduced subsidies since 2011, potentially impacting market demand and prices[77]. - Trade protection policies against Chinese photovoltaic products have been implemented by countries like the EU and the US, which could harm the company's overseas sales and competitive pricing[78]. Corporate Governance - The company has not reported any significant litigation or arbitration issues during the reporting period[91]. - The company has maintained a stable financial condition, indicating the potential for significant cash dividends in the future[103]. - The governance structure complies with the Company Law and relevant regulations, ensuring the protection of shareholder rights[139]. Shareholder Information - The largest shareholder, Xun Jianhua, holds 192,232,411 shares, representing 39.56% of the total shares, with 160,560,000 shares pledged[115]. - The company reported a total of 40,457 shareholders as of the end of the reporting period, a decrease from 43,821 shareholders five trading days prior to the report[113]. - The company has not reported any changes in controlling shareholders or actual controllers in the last five years[117].