SG(SH:600734)2014-04-29 16:00Financial Performance - The company reported a net profit of RMB 30,342,040.53 for 2013, with a total distributable profit of -RMB 384,375,484.11, resulting in no profit distribution for the year [4]. - Basic earnings per share increased to RMB 0.0208 from -RMB 0.1123 in 2012, marking a 118.54% improvement [18]. - The weighted average return on net assets rose to 4.6096% from -21.4898% in the previous year, an increase of 26.10 percentage points [18]. - The company’s diluted earnings per share also improved to RMB 0.0208 from -RMB 0.1123 in 2012, reflecting a positive trend [18]. - The company’s net assets return rate, after excluding non-recurring gains and losses, improved to -13.0899% from -39.1814% [18]. - The company reported a revenue of 110.83 million RMB in 2013, a decrease of 18.18% compared to 135.45 million RMB in 2012 [23]. - The net profit attributable to shareholders was 7.32 million RMB in 2013, recovering from a loss of 39.50 million RMB in 2012, marking a significant turnaround [23]. - The net profit excluding non-recurring gains and losses was -20.79 million RMB, an improvement of 71.13% from -72.01 million RMB in the previous year [23]. - The company achieved a net cash flow from operating activities of -38.09 million RMB, showing a 12.57% improvement from -43.56 million RMB in 2012 [23]. - The total assets increased by 12.99% to 1.20 billion RMB at the end of 2013, compared to 1.06 billion RMB at the end of 2012 [23]. Business Operations - The company has expanded its business scope to include real estate and non-ferrous metal trading, in addition to its original IT-related products [15]. - The real estate business signed a total area of 13,068.04 square meters with a contract amount of 152.76 million RMB during the reporting period [24]. - The company’s financing balance for real estate projects was 367 million RMB, with bank loans at 167 million RMB and trust financing at 200 million RMB [27]. - The electronic business generated a revenue of 14.03 million RMB but reported a net loss of 235.46 thousand RMB [28]. - The company’s aluminum trading business achieved a revenue of 71.95 million RMB, falling short of the original target of 300 million RMB [27]. - The company plans to maintain a cautious approach in real estate project development, focusing on existing projects and enhancing marketing efforts [24]. Cost Management - Operating revenue decreased by 18.18% to ¥110,825,757.63 compared to ¥135,446,702.83 in the same period last year [30]. - Operating costs also fell by 18.04% to ¥93,758,800.81 from ¥114,397,235.63 year-on-year [33]. - Sales expenses were reduced significantly by 47.97% to ¥6,359,096.49, down from ¥12,222,316.41 [35]. - Management expenses decreased by 27.63% to ¥35,561,149.80 compared to ¥49,137,363.19 last year [35]. - Financial expenses dropped by 43.83% to ¥19,165,402.39 from ¥34,122,410.31 year-on-year [35]. Shareholder and Governance - The company’s financial report received a standard unqualified audit opinion from its accounting firm, indicating reliability in its financial disclosures [4]. - The board of directors emphasizes the importance of cash dividends and plans to enhance shareholder returns while ensuring sustainable development [60]. - The company has not proposed any cash dividend distribution for 2013, 2012, or 2011, as the distributable profits were negative in those years [66]. - The company’s cash dividend policy requires that at least 30% of the average distributable profit over the last three years be distributed in cash, but this has not been met due to negative profits [62]. - The company has established a comprehensive internal management and control system to protect shareholder rights and ensure compliance with regulations [68]. - The company held four shareholder meetings during the reporting period to ensure equal treatment of all shareholders [68]. Strategic Planning - The company plans to restart major asset restructuring when conditions allow, but the timeline remains uncertain due to regulatory challenges [37]. - The company aims to diversify its business structure and enhance profitability through strategic acquisitions and capital operations [49]. - The company plans to optimize its financing structure and explore various channels for fundraising, including issuing corporate bonds and short-term financing instruments [55]. - The company plans to focus on strategic transformation over the next two to three years, aiming for stable growth and sustainable development [49]. Environmental and Social Responsibility - The company has established an environmental management system and obtained ISO14000 certification since 2005, focusing on waste reduction and recycling [71]. - The company emphasizes employee welfare by organizing various cultural and sports activities to enhance team cohesion [70]. - The company has committed to social responsibility and aims to improve its social responsibility management system in 2014 [72]. - The company has a strict recycling and management policy for raw materials and waste, ensuring compliance with environmental standards [71]. Financial Position - The company reported a net loss of ¥417,066,049.62, representing a decrease of 1.73% compared to the previous period [42]. - The total assets of Fujian Shida Group reached CNY 1,201,490,974.10, an increase from CNY 1,063,345,479.72 in the previous year, reflecting a growth of approximately 13.0% [157]. - The company's total liabilities amounted to CNY 1,018,966,932.17, up from CNY 859,405,839.63, indicating a rise of about 18.6% [158]. - The total equity of the company decreased to CNY 182,524,041.93 from CNY 203,939,640.09, representing a decline of approximately 10.5% [158]. - Cash and cash equivalents increased to CNY 48,533,592.10 from CNY 38,790,852.48, marking a growth of about 25.0% [157]. Internal Control and Compliance - The company has established a robust internal control system to ensure compliance, asset security, and accurate financial reporting [148]. - The company’s financial statements for the year ended December 31, 2013, were audited and received a standard unqualified opinion from the auditors [152]. - The company has maintained its accounting policies in accordance with the relevant accounting standards, ensuring the accuracy of its financial reporting [182]. - The company’s governance practices align with the requirements of the Company Law and the China Securities Regulatory Commission [128].