SCC(SH:600740)2014-03-31 16:00Financial Performance - In 2013, the company achieved a net profit of ¥19,803,947.78, with a net profit attributable to the parent company of ¥17,348,901.83[3] - As of the end of the reporting period, the distributable profit available to shareholders was -¥440,601,534.01, leading to no profit distribution for the year[3] - The net profit attributable to shareholders was CNY 17,348,901.83, a decrease of 41.55% from CNY 29,681,363.46 in the previous year[18] - The net cash flow from operating activities was negative CNY 1,011,261,277.41, a decline of 278.35% compared to CNY 567,003,158.27 in 2012[18] - The total assets at the end of 2013 were CNY 8,583,292,782.13, a decrease of 3.81% from CNY 8,922,958,277.51 at the end of 2012[18] - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the year, representing a growth of 15% compared to the previous year[88] - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[88] - The company reported a net profit for the year of CNY 16,268,400.63, reflecting a significant increase compared to the previous year[144] Shareholder Information - The company’s major shareholder, Shanxi Coking Group Co., Ltd., holds 14.22% of the total shares after a non-public offering of 200 million shares[16] - Shanxi Coking Group remains the controlling shareholder, with no changes in the company's main business since its listing[14] - The total number of shareholders at the end of the reporting period reached 89,237, an increase from 87,612 prior to the annual report disclosure[68] - The largest shareholder, Shanxi Coking Coal Group Co., Ltd., holds 14.22% of shares, totaling 108,867,242 shares[68] - The company has significant shareholders with over 10% ownership, including Shanxi Xishan Coal Electricity Co., Ltd.[77] Corporate Governance - The company received a standard unqualified audit report from its accounting firm, Zhihong Accounting Firm[3] - The company’s legal representative is Guo Wencang, and the board secretary is Li Feng[8][9] - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board[152] - The board of directors held 12 meetings during the year, with all members attending in person[101] - The company has a robust incentive mechanism for senior management, linking performance bonuses to the achievement of operational targets[102] Operational Highlights - The company sold 331.91 million tons of coke, an increase of 59.59 million tons compared to 272.32 million tons in the previous year[25] - The average selling price of coke decreased to CNY 1,110.20 per ton, down CNY 281.10 from CNY 1,391.30 per ton in 2012[25] - The company produced 3.15 million tons of coke, achieving 105.08% of the annual plan, and 23.30 million tons of methanol, achieving 101.29% of the annual plan[28] - The company achieved a sales revenue of CNY 210,858.36 million from chemical products, an increase of CNY 24,263.01 million compared to CNY 186,595.35 million in 2012[26] Risk Management - The company has disclosed potential risks in its future development in the board report section[6] - The company has identified market risks due to competition from both private and large steel enterprise-affiliated coke producers, which may impact pricing and sales[41] - The company is committed to environmental goals, aiming to prevent major pollution incidents and control pollutant emissions within government-set limits[39] Financial Structure and Investments - The company completed a private placement of 200 million shares, raising CNY 1.56 billion, which improved its financial structure and reduced the debt-to-asset ratio[24] - The total amount of raised funds was 1,502.88 million RMB, with 910.74 million RMB already utilized for projects[31] - The company reported a capital increase of CNY 200,000,000.00 during the current period, contributing to the growth in equity[138] - The company has made provisions for general risk reserves amounting to CNY 910,945.29, enhancing its financial resilience[139] Employee and Management Information - The number of employees in the parent company was 7,005, with a total of 7,209 employees including major subsidiaries[94] - The total remuneration for the board members during the reporting period amounts to 299.7 million yuan before tax[80] - The company aims to enhance employee skills through various training programs, including safety training and practical skills training for team leaders[95] Compliance and Legal Matters - The company has not engaged in any major litigation, arbitration, or media controversies during the reporting period[50] - The company has maintained its independence and has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[59] - The company has established a system for accountability regarding significant errors in annual report disclosures, which was approved by the board[106] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[88] - The company plans to explore a transportation model that combines railway and road transport to alleviate capacity constraints[43] - The company aims to enhance its competitive edge by optimizing production processes and improving product quality to meet the increasing demand for high-grade coke[41]