NBFB(SH:600768)2014-04-28 16:00Financial Performance - The company reported a consolidated net profit of -38,056,321.51 RMB for 2013, with a parent company net profit of -40,498,747.39 RMB, resulting in an accumulated undistributed profit of -55,167,258.64 RMB at year-end [4]. - Basic earnings per share for 2013 were -0.285 RMB, a decrease of 850% compared to 0.038 RMB in 2012 [22]. - The weighted average return on net assets was -31.79% in 2013, a decrease of 35.44 percentage points from 3.65% in 2012 [22]. - The company reported a total revenue of RMB 895.72 million in 2013, a decrease of 8.36% compared to RMB 977.47 million in 2012 [28]. - The net profit attributable to shareholders was a loss of RMB 38.06 million, a significant decline from a profit of RMB 5.13 million in the previous year, representing a decrease of 841.84% [28]. - The total operating revenue for 2013 was 890,818,264.80 RMB, representing a decrease of 8.20% compared to the previous year [36]. - The total comprehensive income for 2013 was a loss of CNY 39,706,321.51, compared to a gain of CNY 253,763.32 in the previous year [127]. - The company reported a net loss of CNY 55,167,258.64, compared to a loss of CNY 17,110,937.13 in the previous year, representing a deterioration in financial performance [120]. Revenue and Sales - The main business revenue from aluminum sales was RMB 88.81 million, down 8.23% year-on-year [30]. - The company completed a production volume of 34,752 tons, a slight decrease of 0.74% compared to the previous year [28]. - The total revenue from sales of goods and services was 552,567,222.04 RMB, down from 682,429,029.24 RMB, indicating a decrease of 19.0% [135]. Cash Flow and Liquidity - The operating cash flow for the year was negative RMB 7.75 million, an improvement from negative RMB 27.19 million in 2012 [29]. - The net cash flow from operating activities for 2013 was -7,754,031.09 RMB, an increase of 19,435,086.86 RMB compared to 2012 [34]. - The total cash and cash equivalents at the end of the period were 38,218,674.63 RMB, a decrease from 98,603,540.99 RMB, representing a decline of 61.2% [137]. - The cash flow from financing activities showed a net outflow of -23,673,781.37 RMB, an improvement from -34,152,685.89 RMB in the previous year [137]. Assets and Liabilities - The company’s total assets increased by 1.63% to RMB 705.94 million at the end of 2013, compared to RMB 694.60 million at the end of 2012 [28]. - The company’s net assets attributable to shareholders decreased by 28.45% to RMB 99.87 million from RMB 139.57 million in 2012 [28]. - The total liabilities included a 33.78% increase in notes payable to 183,969,371.08 RMB, reflecting a higher use of notes for settling payments [41]. - The company reported a total current assets of CNY 374,324,295.48 as of December 31, 2013, a slight decrease from CNY 378,777,463.25 at the beginning of the year, reflecting a reduction of approximately 1.2% [118]. Operational Efficiency - The gross profit margin for aluminum sales decreased by 1.62 percentage points, with operating revenue of 888,145,876.64 RMB and operating costs of 878,231,704.05 RMB [36]. - Accounts receivable increased by 64.61% to 33,122,518.99 RMB, attributed to slower customer payments [39]. - The company has maintained a stable internal control system, ensuring compliance and asset security, with no significant risks identified during the reporting period [108]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder interests [98]. - The board of directors operated in accordance with the Company Law and the Articles of Association, ensuring compliance and effective governance [99]. - The audit committee reviewed the financial statements and confirmed their accuracy, recommending the reappointment of Tianjian Accounting Firm for the 2014 audit [105]. Future Plans and Strategies - The company plans to enhance its risk resistance capabilities and focus on technical transformation projects, including a new 15,000-ton aluminum plate project [28]. - The company aims to optimize product structure and expand sales channels, focusing on high-value-added products in response to market demand [51]. - The company plans to achieve a production target of 35,000 tons and revenue of 900 million yuan in 2014, aiming for 1 billion yuan [51]. Legal and Compliance Issues - The company faced multiple lawsuits, including a claim for 5,654.51 million RMB related to a loan dispute, which may impact its financial liabilities [64]. - The company is currently appealing a court decision regarding a lawsuit, which may affect its financial standing [64]. - The company is under scrutiny for not disclosing certain information, leading to legal actions from shareholders [64]. Employee and Management Structure - The total number of employees in the parent company is 562, with a combined total of 655 employees including major subsidiaries [92]. - The company has implemented an annual training plan to enhance employee skills and promote healthy development [94]. - The total compensation for the board members and senior management during the reporting period amounted to 199.26 million CNY, with an additional 206.79 million CNY from shareholders [84]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the going concern assumption and comply with the requirements of the accounting standards [151][152]. - The company has undergone changes in accounting policies and has made adjustments for prior period errors [151]. - The company recognizes impairment losses for available-for-sale financial assets when there is a significant or prolonged decline in fair value below cost [164].