DIMA(SH:600565)2014-03-11 16:00Financial Performance - The company's net profit for 2013 was CNY 42,027,830.27, with a profit distribution plan proposing a cash dividend of CNY 0.2 per 10 shares, totaling CNY 14,400,000[8]. - Basic earnings per share decreased by 68.75% to CNY 0.05 in 2013, down from CNY 0.16 in 2012[22]. - The weighted average return on equity dropped to 2.67% in 2013, a decrease of 7.12 percentage points compared to 9.79% in 2012[22]. - The company reported a total distributable profit of CNY 258,819,041.49 after accounting for retained earnings and previous distributions[8]. - The net profit attributable to shareholders of the listed company was CNY 33,980,574.00, down 71.15% from CNY 117,795,838.77 in the previous year[26]. - The net cash flow from operating activities was significantly negative at CNY -1,142,857,395.51, a decline of 248.01% compared to CNY 772,140,675.47 in 2012[26]. - The company reported a significant increase in financing cash flow, reaching CNY 1,006,853,663.10, compared to a negative CNY -100,328,481.22 in the previous year, marking a 1,103.56% increase[26]. Business Operations - The company has maintained dual main businesses in specialized vehicle manufacturing and real estate development since 2008[19]. - The company undertook significant asset restructuring to enhance its real estate business strategy during the reporting period[25]. - The company experienced a 37.13% increase in selling expenses, primarily due to increased promotional costs for real estate projects[29]. - The company has a total of 12 ongoing real estate projects, with a total construction area of approximately 2.1 million square meters[36]. - The company is expanding its market presence in the specialized vehicle sector, particularly in the waste collection and transfer vehicle market[56]. Revenue and Sales - In 2013, the company's operating revenue was CNY 3,049,843,309.27, a decrease of 1.01% compared to CNY 3,081,009,154.59 in 2012[26]. - The company's revenue from the manufacturing sector was approximately ¥822.08 million, with a year-over-year decrease of 7.94%[36]. - Real estate revenue reached approximately ¥2.13 billion, showing a slight decrease of 0.19% compared to the previous year[36]. - The company aims for real estate signed sales revenue to reach CNY 5,800 million in 2014[32]. - The company targets a sales revenue of CNY 900 million for specialized vehicles in 2014[35]. Financial Position - The total assets increased by 29.69% to CNY 11,808,539,037.79 at the end of 2013, compared to CNY 9,105,207,752.78 at the end of 2012[26]. - The total inventory value increased by 37.45% to approximately ¥9.1 billion, accounting for 77.05% of total assets[40]. - The long-term borrowings increased by 413.90% to approximately ¥3.36 billion, indicating a significant rise in financial leverage[40]. - The company's total liabilities rose to CNY 9.90 billion from CNY 7.04 billion, an increase of approximately 40.5%[151]. Shareholder Information - The company’s total share capital at the end of 2013 was 720,000,000 shares[8]. - The largest shareholder, Chongqing Dongyin Holding Group Co., Ltd., holds 38.02% of shares, totaling 273,712,692 shares, with no pledged shares[99]. - The total number of shareholders at the end of the reporting period was 69,657, compared to 74,139 before the annual report disclosure[99]. Corporate Governance - The company’s financial statements received a standard unqualified audit opinion from Lixin Certified Public Accountants[7]. - The company emphasizes compliance with corporate governance standards and has revised its fundraising management system[123]. - The audit committee reviewed the financial statements and ensured compliance with auditing standards, emphasizing confidentiality in financial data[129]. - The supervisory board found no risks or violations of laws and regulations during the reporting period[131]. Risk Management - The company faced significant market risks due to an imbalance in supply and demand in the real estate sector, particularly in third and fourth-tier cities, which may limit future price increases[60]. - The company highlighted a funding risk, as fluctuations in housing prices could tighten financing conditions, impacting the cost of capital and debt repayment capabilities[60]. - The company is committed to maintaining a crisis awareness and strengthening risk control to ensure operational stability[55]. Employee Information - The company has a total of 892 employees, with 25 in the parent company and 867 in major subsidiaries[117]. - The employee composition includes 357 production personnel, 159 sales personnel, and 141 technical personnel[117]. - The compensation policy is based on performance evaluation, linking salary increases to performance and capability growth[117]. Acquisitions and Investments - The company completed the acquisition of a 51% stake in He Dong Holdings for CNY 4.08 million, with the necessary registration changes completed during the reporting period[68]. - The company also acquired a 40% stake in Southern Dongyin for CNY 168.19 million, with the payment and registration procedures finalized within the reporting period[68]. - The company is in the process of acquiring 100% of Guozhan Real Estate and 75% of Tongyuan Real Estate through a non-public share issuance, pending approval from the China Securities Regulatory Commission[77]. Future Outlook - The company plans to launch new projects in 2014, including "领天下" and "东原.湖山樾," with a total planned sales area of approximately 674,000 square meters[38]. - The management team has a clear vision for the company's future, emphasizing innovation and technology in real estate development[113]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[112].