SD(SH:600626)2015-04-29 16:00Financial Performance - The company's net profit for 2014 was CNY 84,267,770.81, with a proposed dividend distribution of CNY 71,024,281.60, resulting in a remaining undistributed profit of CNY 5,957,741.37[2]. - Total revenue for 2014 reached CNY 7,018,071,120.95, representing a 0.96% increase compared to CNY 6,951,127,793.46 in 2013[26]. - The net profit attributable to shareholders decreased by 23.31% to CNY 147,622,297.61 from CNY 192,481,444.65 in the previous year[26]. - Basic earnings per share (EPS) fell by 23.32% to CNY 0.2078 from CNY 0.2710 in 2013[25]. - The weighted average return on equity (ROE) decreased by 2.48 percentage points to 6.74% from 9.22% in 2013[25]. - The net cash flow from operating activities was negative at CNY -21,798,011.98, a significant decline from CNY 4,487,686.41 in 2013[26]. - The operating profit decreased by 7.61% to CNY 196,451,620.52, down from CNY 212,621,587.64 in the previous year[31]. - The company reported a total revenue of 7,000,689,480.95 RMB for 2014, representing a slight increase of 0.95% compared to the previous year[52]. - The company reported a total of 316,678 units sold, with a decrease of 34,091 units compared to the previous period[130]. Assets and Liabilities - Total assets increased by 4.54% to CNY 3,969,019,470.52 at the end of 2014, compared to CNY 3,796,576,080.63 at the end of 2013[26]. - Total liabilities reached CNY 1,524,173,368.51, compared to CNY 1,476,732,300.67 at the start of the year, indicating an increase of about 3.21%[161]. - The company's total equity was CNY 2,444,846,102.01, up from CNY 2,319,843,779.96, representing a growth of approximately 5.38%[161]. - Cash and cash equivalents decreased to CNY 832,737,111.87 from CNY 1,105,239,519.54, a decline of about 24.66%[159]. - Accounts receivable increased to CNY 388,618,606.64 from CNY 320,042,433.40, marking a rise of approximately 21.4%[160]. - Inventory rose to CNY 288,346,022.58 from CNY 246,538,578.81, reflecting an increase of about 16.9%[160]. Revenue Segmentation - The foreign trade division's main business revenue was CNY 5,068,153,786.15, a slight decrease of 0.24% year-on-year, with total profit down by 9.68% to CNY 92,270,000[32][33]. - The automotive interior division achieved a revenue of CNY 9.32 billion, a 12.84% increase, with total profit rising by 3.76% to CNY 61,240,000[33]. - The textile new materials division reported a revenue of CNY 2.13 billion, down 11.05%, while total profit increased by 11.85% to CNY 28,080,000[34]. - The revenue from the automotive interior business was 1,154,703,569.45 RMB, with a gross margin of 11.48%, showing a decrease of 1.56 percentage points year-over-year[49]. - The revenue from the domestic trade segment was 1,178,834,811.48 RMB, reflecting a year-over-year decrease of 24.13%[49]. Investment and R&D - The company's R&D expenditure was CNY 72,023,432.42, reflecting a 2.74% increase from CNY 70,100,117.74 in 2013[35]. - Research and development expenses totaled 72,023,432.42, accounting for 2.94% of net assets and 1.03% of operating income[46]. - The company plans to continue expanding its investment portfolio, focusing on high-yield opportunities in the market[66]. Dividends and Shareholder Returns - The company has adopted a fixed cash dividend policy of 30% of net profit, with the 2014 cash dividend amounting to 71,024,281.60 RMB, representing 48.11% of the net profit attributable to shareholders[96]. - The company distributed dividends totaling 71,024,281.60 RMB, reflecting a commitment to return value to shareholders despite operational losses[177]. Operational Challenges - The company faced challenges due to rising costs in labor, land, and transportation, impacting export competitiveness[30]. - The company reported a significant increase in raw material costs for pure domestic textile products, amounting to 60,043.34 million[41]. - The company’s cash flow from operating activities was significantly impacted by a cash outflow of 242,649,110.79 RMB, compared to 26,712,121.35 RMB last year, highlighting operational challenges[175]. Corporate Governance and Structure - The company maintained a total of 59,644 shareholders by the end of the reporting period[116]. - The company did not provide any guarantees to shareholders or related parties during the reporting period[102]. - The company has a diversified business model, including asset management, textile manufacturing, and sales[121]. - The company has a strong focus on human resources, with a dedicated team for talent management and development[130]. Future Outlook - The company plans to transform its foreign trade division into a self-operated trade service platform, focusing on enhancing supply chain management capabilities[90]. - The company’s future outlook includes plans for market expansion and the development of new products and technologies[132]. - Future guidance indicates a commitment to maintaining a fixed income yield above 12% in the upcoming fiscal year[65].