NCFC(SH:600889)2014-03-18 16:00Financial Performance - The net profit for the year 2013 was CNY 76,050,709.79, with a proposed cash dividend of CNY 0.30 per 10 shares[4]. - The company's operating revenue for 2013 was CNY 2,052,231,934.32, representing a 35.09% increase compared to CNY 1,519,210,168.37 in 2012[17]. - Net profit attributable to shareholders was CNY 24,539,720.28, a 73.91% increase from CNY 14,110,677.24 in the previous year[17]. - The company reported a basic earnings per share of CNY 0.08, up from CNY 0.05 in 2012, reflecting a 60% increase[17]. - The weighted average return on equity increased to 2.65%, up from 1.56% in the previous year[17]. - The company achieved a total sales area of 9.44 million square meters in real estate, with a sales revenue of CNY 90,376,000, contributing CNY 12,238,000 to the company's net profit[20][23]. - The company reported a net profit of approximately 24.54 million RMB for 2013, with a profit distribution ratio of 37.54%[51]. - The company reported a net profit of 76,151,645.36 RMB for the year[125]. Revenue and Sales - The total revenue reached 2.052 billion yuan, exceeding the planned target of 1.969 billion yuan by 4.22%[32]. - The export revenue from viscose filament yarn reached USD 32 million, marking a 5.44% increase year-on-year[20]. - The operating income from real estate sales increased significantly by 122.99%, contributing to a net profit of 172.83 million yuan, which is a 139.46% increase compared to the same period last year[30]. - The revenue from viscose short fibers increased by 41.21% year-on-year, with raw material costs accounting for 91.67% of total costs[25]. - The domestic market revenue grew by 3.91%, while international market revenue increased by 8.71%[37]. Cash Flow and Investments - The net cash flow from operating activities reached CNY 396,327,102.70, a significant increase of 550.21% compared to CNY 60,953,802.41 in 2012[17]. - The cash inflow from operating activities increased by 81.70% to 1.955 billion yuan, driven by a significant rise in real estate sales revenue[30]. - The company reported a net cash outflow from investment activities of 25.606 million yuan, reflecting increased external investments[31]. - The company reported a cash flow from investing activities net outflow of CNY 25,606,322.92, worsening from a net outflow of CNY 16,105,796.73 in the previous year[119]. - Cash flow from financing activities resulted in a net outflow of CNY 144,454,511.81, compared to a smaller outflow of CNY 5,733,126.10 in the previous year[120]. Research and Development - Research and development expenses increased by 26.11% to CNY 5,061,431.33, indicating a focus on innovation and product development[21]. - The company recognizes the rapid growth in the viscose fiber industry and plans to increase R&D efforts for high-value-added products[45]. - The company has allocated resources for research and development to innovate new products and improve existing ones[132]. Corporate Governance and Compliance - The company received a standard unqualified audit report from Jiangsu Gongzheng Tianye Accounting Firm[4]. - The company has improved its corporate governance structure and internal control systems, ensuring a sound decision-making mechanism[88]. - The audit committee recommended the reappointment of Jiangsu Gongzheng Tianye Accounting Firm as the external auditor for 2014, with an audit fee not exceeding RMB 450,000[96]. - The company has not reported any shareholding changes or stock options for its executives during the reporting period[74]. Market Strategy and Expansion - The company aims to enhance its core competitiveness by innovating management models and upgrading viscose fiber products[46]. - The company will focus on expanding both domestic and international markets to strengthen its capital base[46]. - The company is exploring potential mergers and acquisitions to further strengthen its market position[132]. - The company plans to continue expanding its market presence and investing in new technologies[127]. Financial Stability and Liabilities - Total liabilities increased, with accounts payable reaching ¥326,501,625.41, representing 9.30% of total assets, a 40.89% increase from the last period[38]. - The company’s total liabilities decreased, indicating improved financial stability[124]. - The company anticipates a new funding requirement of approximately 200 million RMB to support the expansion of its main business and complete ongoing investment projects[47]. Shareholder Information - The total number of shares for dividend distribution is 307,069,284[4]. - The largest shareholder, Nanjing Light Textile Industry (Group) Co., Ltd., holds 40.84% of shares, totaling 125,407,882 shares[67]. - The total number of shareholders at the end of the reporting period is 32,606[67]. Employee and Management Structure - The company employed a total of 3,192 staff, including 292 in the parent company and 2,900 in major subsidiaries[83]. - The company has maintained a stable leadership team with no new appointments or departures during the reporting period[75]. - The company has established a performance evaluation and incentive mechanism that links executive compensation to corporate performance and individual achievements[90]. Risks and Challenges - The company faced challenges in the viscose fiber industry due to trade protectionism and oversupply, impacting pricing and market conditions[19]. - The company faces risks related to raw material supply, particularly due to the rapid expansion of domestic viscose staple fiber capacity and potential increases in procurement costs[47]. - The company will closely monitor the real estate market and adjust its strategies in response to government policies[45].