YBTI(SH:600883)2014-04-11 16:00Financial Performance - In 2013, the company achieved a net profit of CNY 6,723,778.28, a decrease of 31.55% compared to the previous year[7]. - The company's operating revenue for 2013 was CNY 34,916,191.37, down 54.09% from CNY 76,052,422.03 in 2012[22]. - The basic earnings per share for 2013 was CNY 0.0280, down 31.71% from CNY 0.0410 in 2012[22]. - The net profit attributable to shareholders was CNY 6.62 million, a decline of 31.55% compared to the previous year, mainly due to reduced cement sales profits and investment income[24]. - The company reported a net cash flow from operating activities of CNY -3,079,447.29, a decline of 608.34% compared to the previous year[22]. - The total cost of operations was CNY 44.78 million, down 45.16% year-on-year, mainly due to a reduction in cement production volume[24]. - The company achieved an operating revenue of CNY 34,856,267.88 in the cement segment, a decrease of 53.98% compared to the previous year, with a gross margin of 2.39%[32]. - The company reported a net profit of 6,618,483.92 RMB for the year[124]. - The net profit for the year was CNY 8,953,942.51, reflecting a significant increase compared to the previous year[138]. Revenue and Sales - In 2013, the company achieved total revenue of CNY 34.92 million, a decrease of 54.09% year-on-year, primarily due to a decline in cement sales volume and prices[24]. - The company's cement production decreased by 45.84% to 112,500 tons, while sales volume fell by 43.25% to 113,500 tons, resulting in a revenue loss of CNY 32.76 million[26]. - The average selling price of cement was CNY 307.12 per ton, down 18.90% year-on-year, contributing to a revenue reduction of CNY 8.12 million[26]. - Cement sales volume was 113,500 tons, down 43.25% year-on-year, with specific sales of 78,400 tons of 32.5R composite silicate cement and 31,500 tons of 42.5 ordinary silicate cement[32]. - The company reported a significant decrease in sales revenue from CNY 40,029,791.96 to CNY 88,270,123.89, reflecting a decline in operational performance[114]. Assets and Liabilities - The total assets at the end of 2013 were CNY 737,466,371.88, a decrease of 0.42% from CNY 740,608,640.48 in 2012[22]. - The company's equity totaled CNY 684,710,759.14, slightly down from CNY 685,825,790.35 at the beginning of the year[102]. - Total liabilities decreased to CNY 52,755,612.74 from CNY 54,782,850.13, a reduction of approximately 3.7%[102]. - Current assets increased to CNY 145,746,306.83 from CNY 132,645,329.92, reflecting a growth of approximately 9.4%[100]. - The company reported a retained earnings of CNY 255,952,983.68, up from CNY 254,728,637.59, indicating a growth of approximately 0.5%[102]. Cash Flow and Investments - Investment activities generated a net cash flow of CNY 7.97 million, a significant increase from CNY 0.14 million in the previous year[29]. - The company recovered cash from investments amounting to CNY 124,700,000, a significant increase of 466.82% compared to CNY 22,000,000 in the previous year[30]. - Cash paid for investments rose to CNY 129,100,000, an increase of 274.20% from CNY 34,500,000 in the previous year, indicating a strategic focus on financial products[30]. - Cash flow from operating activities showed a net outflow of CNY 3,079,447.29, compared to a net inflow of CNY 605,782.90 in 2012[115]. - Total cash inflow from investment activities was 131,448,449.43 RMB, significantly up from 36,355,465.53 RMB in the prior year[120]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.20 per 10 shares, totaling CNY 4,721,760.00[7]. - A cash dividend of CNY 0.20 per 10 shares (including tax) was proposed, amounting to a total distribution of CNY 4,721,760.00, which represents 71.34% of the net profit attributable to shareholders for 2013[54]. - The company completed the distribution of cash dividends totaling CNY 4,721,760.00 on July 3, 2013, with a record date of June 26, 2013[50]. - The company has established a cash dividend policy requiring a minimum cash dividend ratio of 30% of the average distributable profit over the last three years[47]. - The company aims to maintain a sustainable and stable profit distribution while ensuring shareholder rights[46]. Market Conditions and Risks - The company faced intense competition in the cement market, leading to continuous price declines and impacting overall profitability[23]. - The company plans to achieve a revenue target of 24.5 million yuan in 2014, focusing on market research and cost control strategies[41]. - The company faces significant industry risks due to overcapacity in the regional market, which is expected to lead to continued price declines[42]. - The company aims to maintain stable operations while addressing risks related to raw material procurement and production costs[42]. Corporate Governance and Management - The company has established a governance structure that is clear in responsibilities, effective in checks and balances, and compliant with relevant laws and regulations[87]. - The board of directors is responsible for proposing cash dividend plans based on the company's profitability and funding needs[48]. - The company has implemented a performance evaluation mechanism for senior management, linking compensation to performance assessments[92]. - The company has a training system that combines internal and external training for employees[83]. - The company has established an environmental protection plan and received a pollution discharge permit, indicating compliance with environmental regulations[53]. Shareholder Information - The total number of shareholders as of the end of the reporting period is 18,337, an increase from 17,613 in the previous reporting period[69]. - The largest shareholder, Shenzhen Derong Investment Development Co., Ltd., holds 17.15% of the shares, totaling 40,500,000 shares[69]. - The company has maintained a stable shareholding structure with no new issuances or changes in ownership during the reporting period[65]. - The company has committed to not sell its non-tradable shares for a period of 12 months following the implementation of the reform plan[59]. Audit and Compliance - The financial statements for the year ended December 31, 2013, were audited by Ruihua Certified Public Accountants, receiving an unqualified opinion[98]. - The company has not reported any significant errors in its annual report during the reporting period, adhering to its established accountability mechanisms[94]. - There were no significant penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[62].