FJDB(SH:600693)2014-02-28 16:00Shareholding and Corporate Structure - The total shares held by Fujian Fengqi Investment Co., Ltd. reached 100,227,419, accounting for 29.20% of the total share capital by the end of the reporting period[23]. - The company’s stock code is 600693, and it is listed on the Shanghai Stock Exchange[16]. - The total number of shares outstanding is 343,222,594, with 299,011,927 shares being freely tradable, accounting for 87.12%[96]. - The largest shareholder, Fujian Fengqi Investment Co., Ltd., holds 29.20% of the shares, totaling 100,227,419 shares[100]. - The actual controller of the company is Ms. Zheng Shufang, who is also the chairman of Fujian Fengqi Investment Co., Ltd.[104]. - The company has not reported any changes in the actual controller or significant shareholders during the reporting period[104]. - The company has no changes in restricted shares during the reporting period[95]. - The company has no internal employee shares as of the end of the reporting period[98]. - The total number of shareholders at the end of the reporting period is 20,851[100]. Financial Performance - In 2013, the company's operating revenue was CNY 2,036,736,478.08, a decrease of 1.54% compared to 2012[25]. - The net profit attributable to shareholders was CNY 56,221,971.11, an increase of 46.41% year-on-year[25]. - The net profit after deducting non-recurring gains and losses was CNY 52,316,300.70, up 13.73% from the previous year[25]. - The company's total assets increased by 42.76% to CNY 3,303,659,202.10 at the end of 2013[25]. - The basic earnings per share rose to CNY 0.1638, reflecting a growth of 46.38% compared to 2012[26]. - The weighted average return on equity increased to 5.42%, up 1.73 percentage points from the previous year[26]. - The gross profit margin for department store retail was 14.63%, a decrease of 0.52 percentage points year-on-year[34]. - The company reported a total profit of CNY 78.26 million, a decline of 3.92% from CNY 81.45 million in the previous year, with operating profit down 9.01%[45]. - The company’s total costs for the reporting period were CNY 1,608.21 million, a decrease of 0.85% from the previous year[39]. - The company’s advertising costs decreased by 50.62%, reflecting reduced amortization of advertising space costs[39]. Cash Flow and Financing - The net cash flow from operating activities decreased by 618.25%, resulting in a negative cash flow of CNY -719.46 million, largely due to increased payments related to land bidding deposits[42][43]. - The net cash flow from financing activities increased by 12,646.11%, primarily due to a 620.87% increase in cash received from loans, reflecting a larger borrowing scale[44]. - The company reported a significant increase in prepayments, rising by 17,837.16% to RMB 729,800,460.19, primarily due to land use rights payments[54]. - Short-term borrowings increased by 89.11% to RMB 191 million, reflecting the company's need for additional working capital[55]. - The company raised 905,000,000.00 RMB through borrowings, compared to 125,000,000.00 RMB in the previous year, indicating a substantial increase in financing activities[155]. - The net cash flow from financing activities was 764,722,106.79 RMB, a recovery from a negative cash flow of -6,390,626.73 RMB in the previous year[155]. Business Operations and Strategy - The company has maintained its main business in the department store retail industry since its listing, with no changes reported[19]. - The company is actively pursuing the construction of traditional department store shopping centers and urban complexes, with several projects making positive progress[36]. - In 2014, the company plans to enhance management and operational innovation to mitigate adverse market factors and strengthen its core competitiveness[37]. - The company plans to continue expanding its market presence and enhancing its product offerings, although no major changes in products or services were reported during the period[50]. - The company plans to start the construction of the Fuzhou Dongbai Plaza project in the second half of 2014, in response to municipal planning and subway construction needs[78]. - The company aims to open new department store chain locations in Xiamen and Fuzhou within the year, which will require significant funding[78]. - The company plans to explore the integration of online and offline business models to enhance operational efficiency[74]. Investments and Financial Products - The company invested a total of 50 million RMB in a wealth management product from Citic Bank, with an expected return of 152,054.79 RMB[63]. - The company allocated 30 million RMB to a wealth management product from China Merchants Bank, achieving a return of 207,123 RMB[63]. - The company also invested 30 million RMB in a wealth management product from Bank of Communications, resulting in a return of 355,068.49 RMB[63]. - The company has launched multiple financial products with varying principal amounts, all aimed at ensuring capital preservation[65]. - The company is focusing on expanding its financial product offerings to enhance returns for investors[65]. - The company reported a total of 60,000,000 RMB in principal for its financial products in 2013, with a return of 240,000 RMB[65]. Corporate Governance and Compliance - Fujian Huaxing Certified Public Accountants issued a standard unqualified audit report for the company[5]. - The company has not engaged in any related party transactions for these investments, ensuring transparency and compliance[63]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[88]. - The company has implemented a systematic training mechanism for management personnel to enhance their management capabilities[121]. - The company has strengthened its insider information management system, ensuring compliance with regulations during the reporting period[123]. - The company actively engages with investors through performance briefings and online platforms, ensuring transparent communication[123]. Employee and Management Information - The company employed a total of 926 staff, with 112 in the parent company and 814 in major subsidiaries[117]. - The company has implemented a salary adjustment plan to ensure market competitiveness and align with performance evaluations[118]. - The total remuneration for the board of directors and senior management during the reporting period amounted to RMB 556.01 million[109]. - The company emphasizes performance-based salary adjustments to attract and retain core talent[118]. - The company has appointed new executives, including Liu Yi and Song Kejun as vice presidents and audit director respectively[116]. Risks and Challenges - The company faced significant challenges due to increased competition and external factors, impacting sales performance[34]. - The rapid development of e-commerce poses a transformation risk to traditional department store operations[76]. - The company is facing increased management risks due to rapid business growth, necessitating improvements in group control and risk management[76]. Future Outlook - The company plans to distribute dividends amounting to at least 30% of the average distributable profit over the last three years, contingent on profitability and cash flow[88]. - The company has set a performance guidance for the next fiscal year, aiming for a growth rate of approximately 10% in net profit[165]. - The company aims to achieve a revenue of RMB 2 billion and a cost of RMB 1.6 billion in 2014[74].