NBZB(SH:600857)2015-03-23 16:00Financial Performance - The net profit attributable to the parent company for 2014 was CNY 41.3793 million, with an ending undistributed profit of CNY 231.8456 million after deducting statutory surplus reserves and dividends [2]. - The company reported a net profit of CNY 43.635 million for the parent company, with an ending undistributed profit of CNY 234.9494 million after similar deductions [2]. - The company achieved operating revenue of CNY 1,180,308,849.01 in 2014, a decrease of 20.02% compared to the previous year [21]. - The net profit attributable to shareholders was CNY 41,379,336.55, representing an increase of 15.92% year-on-year [21]. - The company reported a profit before tax of CNY 50,187,500, an increase of 8.49% compared to the previous year [31]. - The net profit after deducting non-recurring gains and losses was CNY 38,313,274.95, reflecting a 9.66% increase year-on-year [21]. - The company’s total revenue for the year was CNY 1.18 billion, a decrease of 20.02% compared to CNY 1.48 billion in the previous year [34]. - The company reported a total of CNY 1.9916 million in losses from securities investments during the reporting period, with specific losses from investments in King Kong Glass, JD.com, and China Heavy Industry [59]. - The company reported a total comprehensive income for the year of CNY 35,528,700.32, reflecting a positive trend in financial performance [181]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, totaling CNY 13.4592 million for the year 2014 [2]. - The company has implemented a cash dividend policy, distributing CNY 1,345.92 million in cash dividends for the fiscal year 2013, at a rate of CNY 0.60 per 10 shares [75]. - The company plans to distribute at least 10% of the annual distributable profit as cash dividends, with a cumulative distribution of at least 30% of the average annual distributable profit over the last three years [74]. - The company has not proposed a cash dividend distribution plan for the reporting period despite having positive undistributed profits [76]. Shareholder Information - The company’s first major shareholder is Shanghai Zetian Investment Development Co., Ltd., which acquired a 15.69% stake through judicial ruling [15]. - The company completed a share transfer of 18,884,000 shares to an individual, representing 8.42% of the total share capital [18]. - The total number of shareholders at the end of the reporting period was 16,653, an increase from 14,952 five trading days prior to the report [96]. - The company's total share capital remained unchanged at 224,319,919 shares during the reporting period [95]. - The top ten shareholders included Shanghai Zetian Investment Development Co., Ltd. and Zhu Renbao, with significant holdings of 15.69% and 8.42% respectively [98]. - The company does not have a controlling shareholder situation as of the end of the reporting period [100]. Assets and Liabilities - The total assets at the end of 2014 were CNY 758,248,515.71, an increase of 2.40% compared to the end of 2013 [21]. - The company’s net assets attributable to shareholders increased to CNY 579,223,590.49, a growth of 5.21% year-on-year [21]. - The company’s total liabilities amounted to ¥225,971,629.30, up from ¥187,154,678.75, reflecting a growth of approximately 20.7% [163]. - Owner's equity totaled ¥581,658,668.18, an increase from ¥550,714,041.82, indicating a growth of about 5.6% [164]. - The company’s retained earnings grew to ¥234,949,393.93 from ¥209,137,058.47, indicating an increase of about 12.3% [164]. Cash Flow - The net cash flow from operating activities was CNY 25,513,981.23, down 47.35% from the previous year [21]. - The company reported cash and cash equivalents of CNY 258.71 million as of December 31, 2014, compared to CNY 210.83 million at the beginning of the year, indicating a growth of approximately 22.7% [158]. - Cash inflow from investment activities reached CNY 197,443,137.18, up 203.5% from CNY 65,047,187.74 in the previous year [175]. - Cash and cash equivalents increased significantly to ¥254,474,573.87 from ¥174,563,777.04, representing a growth of about 45.7% [161]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies [7]. - The company faces risks from macroeconomic fluctuations, particularly the slowdown in China's economic growth since 2014, which may affect consumer spending [69]. - Increased competition in the retail sector is anticipated due to the rapid growth of online shopping and the emergence of various regional retail formats [70]. Corporate Governance - The company has established a governance structure that ensures all shareholders have equal rights and can fully exercise their rights, with effective communication channels established for shareholder inquiries [127]. - The board of directors consists of independent directors who have undergone training, complying with the guidelines set by the China Securities Regulatory Commission [129]. - The company has committed to maintaining independence from its controlling shareholder, ensuring no interference in decision-making and operations [128]. - The company has strengthened its insider information management system, with no instances of insider trading reported during the review period [130]. Employee Information - The company employed a total of 239 staff members, including 229 in the parent company and 10 in major subsidiaries [120]. - The company has a structured approach to employee remuneration, differentiating between trial and formal employment salaries [121]. - The educational background of employees includes 53 with a bachelor's degree or higher, 58 with a college diploma, 94 with a high school diploma, and 34 with lower education levels [120]. Investment Activities - The company has entrusted CNY 10 million in a trust plan with an expected annual return of 7.5%, and CNY 40 million in another trust plan with an expected annual return of 7% [61]. - The company has also invested CNY 50 million in structured deposit products with an expected annual return of 4.6% [61]. - The company has shown a reduction in financial expenses, which decreased to ¥497,589.66 from ¥1,244,145.99, a decline of 60% [165]. Audit and Compliance - The company’s financial report has been audited by Lixin Accounting Firm, which issued a standard unqualified opinion [3]. - The financial statements have been approved by the board of directors, ensuring compliance and accuracy in reporting [192]. - The company has maintained effective internal controls over financial reporting, with no significant deficiencies identified as of the evaluation date [149].