Jinrui Mineral(SH:600714)2015-02-09 16:00Financial Performance - In 2014, the company achieved a net profit of CNY 9,016,186.69, a decrease of 60.26% compared to CNY 22,688,027.87 in 2013[2] - The company's operating revenue for 2014 was CNY 427,014,306.78, down 25.08% from CNY 569,942,256.88 in 2013[24] - The basic earnings per share for 2014 was CNY 0.033, a decline of 58.75% from CNY 0.08 in 2013[24] - The operating profit was ¥6,465,909.61, reflecting a significant decline of 80.02% compared to the previous year[28] - The company reported a total profit for the year of RMB 18,725,567.42, down 48% from RMB 36,450,190.19 in the previous year[157] - The total operating revenue for 2014 was RMB 427,014,306.78, a decrease of 25% compared to RMB 569,942,256.88 in the previous year[156] - The company experienced a decrease in sales expenses, which fell to RMB 12,372,523.53 from RMB 16,784,476.46, a reduction of approximately 26%[156] Cash Flow - The net cash flow from operating activities was negative CNY 106,327,413.76, compared to negative CNY 1,391,176.21 in 2013[24] - The company’s cash flow from operating activities showed a net outflow of ¥106,327,413.76, a decrease of 7542.99% year-on-year[35] - The company reported a net cash flow from operating activities of -77,061,919.93 RMB, compared to -7,042,825.03 RMB in the previous period[164] - Cash inflow from financing activities was 2,567,500.00 RMB, while cash outflows totaled 161,850,000.00 RMB, resulting in a net cash flow of -11,850,000.00 RMB[164] Assets and Liabilities - The total assets at the end of 2014 were CNY 1,291,247,259.62, an increase of 5.47% from CNY 1,224,229,804.80 at the end of 2013[24] - Total liabilities rose to ¥823,211,259.21 from ¥774,013,554.81, marking an increase of around 6.4%[150] - Current liabilities increased to ¥483,522,163.07 from ¥409,831,712.78, showing a growth of approximately 17.9%[150] - The company's equity attributable to shareholders increased to ¥468,036,000.41 from ¥450,216,249.99, representing a growth of approximately 4%[150] Shareholder Information - The largest shareholder, Qinghai Investment Group Co., Ltd., holds 44.79% of the shares, with 75,610,000 shares pledged[95] - As of the end of the reporting period, the total number of shareholders was 21,863, an increase from 21,794 prior to the report[93] - The company has established a three-year shareholder return plan from 2012 to 2014, focusing on profit distribution and cash dividends[65] Risk Management and Future Plans - The company has outlined potential risks in its future development plans, which investors should be aware of[3] - The company plans to ensure the completion of the 450,000 tons/year project by the end of the year to increase raw coal capacity[57] - The company will actively integrate resources in the Qinghai coal sector and pursue acquisitions to diversify operations and mitigate risks from a sluggish coal market[53] - The company anticipates risks from industry policies, safety production, and rising costs due to increased mining depth and material prices[56] Internal Control and Governance - The company has implemented a robust internal control system, revising key governance documents to enhance risk management and governance standards[121] - The audit committee evaluated the independence and professionalism of the external auditor, Beijing Yongtuo Accounting Firm, and recommended their continued engagement for the 2014 audit[130] - The company has maintained strict compliance with information disclosure regulations, ensuring timely and accurate reporting of significant information[122] Employee and Management Information - The total remuneration for senior management during the reporting period amounted to 328.83 million RMB[104] - The company has a total of 390 production personnel, 8 sales personnel, 147 technical personnel, 10 financial personnel, and 88 administrative personnel[111] - The core technical team remains stable with no changes during the reporting period, which is crucial for maintaining the company's competitive edge[110] Related Party Transactions - The company reported a total related party transaction amount of 291,643,566.13 RMB, accounting for 68.59% of the total sales[70] - The company has established a long-term stable supply relationship with Qingtai Aluminum Electric, with related party sales accounting for 50-70% of total coal sales over the past three years[70] - The company is actively exploring sales channels to reduce reliance on related party sales and increase sales to non-related parties[70]