TUDI(SH:600773)2014-02-24 16:00Financial Performance - The company's operating revenue for 2013 was ¥676,755,703.15, a decrease of 9.45% compared to ¥747,363,387.52 in 2012[22] - The net profit attributable to shareholders for 2013 was ¥71,653,933.65, down 29.03% from ¥100,966,249.19 in 2012[22] - Basic earnings per share for 2013 were ¥0.12, a decrease of 33.33% from ¥0.18 in 2012[23] - The weighted average return on equity for 2013 was 5.95%, down 2.93 percentage points from 8.88% in 2012[23] - The company reported a total profit for 2013 of CNY 103,230,606.43, a decrease of 26.3% compared to CNY 140,056,169.13 in the previous year[158] - The total comprehensive income for 2013 was CNY 71,878,935.20, compared to CNY 101,032,084.88 in the previous year, indicating a decrease of 29.0%[159] Cash Flow and Financial Position - The net cash flow from operating activities improved significantly to -¥57,227,341.38 in 2013, a 87.84% increase compared to -¥470,588,849.37 in 2012[22] - The company's cash and cash equivalents decreased by 70.42% to CNY 262,672,655.01[37] - The total current assets as of December 31, 2013, amounted to CNY 8,269,819,959.07, an increase from CNY 8,189,921,996.99 at the beginning of the year, reflecting a growth of approximately 1.0%[149] - The cash and cash equivalents at the end of 2013 were CNY 262,672,655.01, down from CNY 888,089,837.95 at the beginning of the year, indicating a significant decrease of about 70.4%[149] - The company reported a net increase in cash and cash equivalents of 80,426,302.42 RMB, compared to 14,101,686.99 RMB in the previous year[169] Assets and Liabilities - The total assets at the end of 2013 were ¥8,874,199,742.27, reflecting a 2.77% increase from ¥8,634,652,806.72 in 2012[22] - Total liabilities were CNY 7,622,361,031.88, an increase of 2.2% from CNY 7,456,997,308.55[151] - Owner's equity totaled CNY 1,251,838,710.39, up from CNY 1,177,655,498.17, indicating a growth of 6.3%[151] Investments and Acquisitions - The company acquired a 45% stake in Quanzhou Shangshi Real Estate Co., Ltd., contributing to an increase in long-term equity investments by 52.50%[37] - The company made an equity investment of ¥239,690,495.52, a year-on-year increase of 8777.43% compared to the previous year, primarily due to the acquisition of 45% equity in Quanzhou Shangshi Real Estate Co., Ltd. for ¥212,805,249.52[43] - The company plans to issue up to 188.2845 million A-shares to acquire a 40.01% stake in Quanzhou Shangshi Real Estate Co., Ltd. from Shanghai Beifang Enterprise (Group) Co., Ltd.[73] Strategic Focus and Business Transformation - The company has undergone a significant business transformation since 2009, shifting its focus to real estate development and investment in mining, finance, and industry[19] - The company is focusing on diversifying its operations, particularly in mining investments in Tibet[28] - The company plans to continue focusing on real estate development while exploring diversified operations, particularly in the mining sector in Tibet[50] Governance and Compliance - The company received a standard unqualified audit report from its accounting firm, indicating the financial statements are accurate and complete[6] - The company has committed to maintaining compliance with legal and regulatory requirements in its operations and decision-making processes[131] - The company has established a strategic committee, audit committee, nomination committee, and compensation committee to strengthen governance[132] Shareholder Relations and Dividends - The company plans to distribute a cash dividend of CNY 0.20 per 10 shares, totaling CNY 11.51 million for the year 2013[60] - The company has a cash dividend policy that aims to protect shareholders' rights and increase transparency in profit distribution[59] - The company emphasizes equal treatment of all shareholders, ensuring that minority shareholders can fully exercise their rights[130] Employee and Management Structure - The company has improved its employee compensation structure to ensure fair sharing of business growth[62] - The company has established a detailed annual training plan aimed at enhancing the professional skills and business levels of employees[127] - The company has a diverse board with members having extensive experience in various sectors, including finance and management[115] Legal Matters - The company is currently involved in a legal dispute regarding a contract with natural persons over equity and mining rights[67] - The company is involved in a lawsuit where it is required to compensate a total of RMB 33.975 million for rental losses from a property dispute[66] Related Party Transactions - The company has committed to reducing and standardizing related party transactions with its controlling enterprises[91] - The company confirmed that related party debts do not significantly impact its operational results and financial condition[83] - The company has waived its right of first refusal on the transfer of shares in related transactions, which constitutes a related party transaction[73]