CRCH(SH:600636)2015-03-19 16:00Financial Performance - The company's operating revenue for 2014 was CNY 3,939,933,113.78, representing a 19.88% increase compared to CNY 3,286,678,584.63 in 2013[19] - The net profit attributable to shareholders for 2014 was CNY 6,466,825.28, a significant decrease of 90.82% from CNY 70,461,928.69 in 2013[19] - The total profit amounted to CNY 88,281,906.03, a decrease of 45.60% compared to the previous year[26] - Net profit attributable to the parent company was CNY 646.68 million, down 90.82% year-on-year[28] - Basic earnings per share for 2014 were CNY 0.017, down 90.76% from CNY 0.184 in 2013[21] - The weighted average return on equity decreased to 0.39% in 2014, down 3.81 percentage points from 4.20% in 2013[21] - The company reported a significant increase in accounts receivable, which rose by 66.97% to ¥461,006,390.97, indicating challenges in cash recovery[51] - The company reported a total revenue of 863.81 million RMB for the year 2014[109] - The company reported a comprehensive income loss of -3,640,000.00 RMB during the year[176] Cash Flow and Financial Position - The net cash flow from operating activities was negative CNY 35,664,225.28, compared to a positive CNY 294,805,516.73 in 2013[20] - The company reported a net cash flow from financing activities of CNY 340,354,675.26, contrasting with a negative cash flow of CNY -178,512,872.66 in the previous year[34] - The company's total liabilities increased to CNY 1,771,763,684.75 from CNY 1,256,856,835.17, indicating a significant rise in financial obligations[154] - The company's cash and cash equivalents at the end of 2014 were CNY 395,918,197.50, up from CNY 388,116,679.79 at the beginning of the year[152] - The company raised 350,000,000.00 RMB through borrowings, compared to 140,000,000.00 RMB in the previous year[172] Research and Development - The company's R&D expenditure decreased by 57.19% to CNY 78,542,001.53[34] - Total R&D expenditure amounted to ¥78,542,001.53, representing 3.72% of net assets and 1.99% of operating revenue[40][41] - The company is increasing its research and development efforts for HCFC alternatives to meet environmental regulations and market demands[70] Market and Competitive Position - The company completed the acquisition of Aotep and Inner Mongolia San Ai Fu, enhancing its market competitiveness[30] - The company is actively collaborating with Solvay to form a joint venture, focusing on safety management and product quality improvement[30] - The company is facing increased competition in the polymer market, with prices for key fluoropolymers like PTFE and FEP declining to low levels[66] - The company plans to implement a "going out" strategy, reducing production in Shanghai and focusing on its Changshu and Inner Mongolia bases[66] Environmental and Social Responsibility - The company allocated 27.17 million yuan for environmental protection facilities and waste treatment in 2014[80] - The company has committed to using clean energy to eliminate air pollution from coal-fired boilers[80] - The company has achieved compliance with national emission standards for major pollutants such as ammonia nitrogen and COD[80] Corporate Governance - The company has established a framework for protecting the rights of shareholders and creditors through improved internal control systems[77] - The company has not changed its accounting firm, maintaining the same auditor for 15 years, with an audit fee of 70,000 RMB[96] - The company’s governance structure aligns with the requirements of the Company Law and the China Securities Regulatory Commission, with no significant discrepancies[132] Employee Management - The company trained 3,384 employees, totaling approximately 28,970 hours of training in 2014[78] - The company emphasizes a talent management strategy that includes talent reserve, recruitment, and multi-channel promotion[124] - The employee compensation policy is based on job value, with a focus on key positions[127] Shareholder Information - The total number of shareholders at the end of the reporting period was 59,625, an increase from 52,399 prior to the annual report disclosure[106] - The largest shareholder, Shanghai Huayi (Group) Company, holds 120,423,561 shares, representing 31.52% of the total shares[108] - The company distributed a cash dividend of CNY 0.60 per 10 shares, totaling CNY 22.917 million, based on a total share capital of 381,950,571 shares[75]