WFDSJ(SH:601010)2014-04-09 16:00Financial Performance - The company achieved operating revenue of RMB 7.18 billion in 2013, an increase of 11.71% compared to RMB 6.43 billion in 2012[28]. - Net profit attributable to shareholders was RMB 384.64 million, a decrease of 8.03% from RMB 418.24 million in the previous year[20]. - The basic earnings per share decreased by 8.77% to RMB 0.52 from RMB 0.57 in 2012[18]. - The total revenue for the company reached ¥6,974,759,791.57, representing an increase of 11.87% compared to the previous year[39]. - The gross profit margin decreased by 0.31 percentage points to 15.31% due to rising costs in various business segments[39]. - The net profit after deducting non-recurring gains and losses increased by 12.07% to RMB 363.63 million[20]. - The company reported a net profit of approximately 384.64 million RMB for 2013, representing 69.18% of the net profit attributable to shareholders[70]. - The company reported a net profit of CNY 384,642,818.63 for the year, contributing to the overall equity changes[156]. - The net profit for the current period is RMB 424,184,819.10, contributing significantly to the increase in owner's equity[165]. Cash Flow and Investments - The net cash flow from operating activities was RMB 294.80 million, down 33.54% from RMB 443.55 million in 2012[20]. - The cash flow from operating activities generated ¥294,795,934.81, down from ¥443,552,227.75, a decrease of about 33.5% year-over-year[151]. - The total cash inflow from operating activities was CNY 2,179,982,640.53, an increase from CNY 2,032,150,738.90 in the previous year, reflecting a growth of approximately 7.3%[154]. - The cash outflow from investment activities totaled CNY 1,649,832,320.36, significantly higher than CNY 854,411,047.49 in the previous year, indicating increased investment efforts[154]. - The total cash inflow from financing activities was CNY 200,000,000.00, with a net cash flow of CNY -80,801,863.01, compared to CNY -207,776,000.00 in the previous year[154]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 3.60 CNY per 10 shares based on the total share capital as of December 31, 2013[3]. - The company has a profit distribution policy that ensures transparency and protects the rights of minority investors[68]. - The company aims to maintain a profit distribution policy, ensuring that cash dividends do not exceed 30% of the average distributable profit over the last three years[83]. Company Operations and Strategy - The company opened a new shopping center and three electrical appliance stores during the reporting period, contributing to increased sales[24]. - The company plans to expand its market presence with new projects in Jiangsu and Shanghai, including a shopping center in Lianyungang and a new shopping center in Shanghai[24]. - The company plans to expand its e-commerce operations and open new stores in Nantong and Shanghai as part of its growth strategy[36]. - The company aims to transform its physical stores into customer experience centers, O2O pickup points, and community hubs to adapt to changing consumer behaviors[63]. - The company will focus on opening five new shopping centers and enhancing its e-commerce and self-owned brand initiatives[65]. Financial Health and Assets - Total assets increased to CNY 6,963,352,459.88 from CNY 6,453,430,662.66, representing a growth of approximately 7.85%[142]. - Current assets totaled CNY 4,471,882,811.70, slightly up from CNY 4,428,376,725.31, indicating a growth of about 0.98%[142]. - Inventory rose significantly to CNY 2,953,927,208.50 from CNY 2,382,389,530.86, marking an increase of approximately 24.00%[142]. - Short-term borrowings increased to CNY 100,000,000.00 from CNY 3,000,000.00, a substantial rise of 3,233.33%[143]. - Owner's equity rose to CNY 3,768,377,936.33 from CNY 3,631,677,785.92, indicating an increase of approximately 3.77%[143]. Governance and Compliance - The company’s financial report received a standard unqualified audit opinion from Xinyong Zhonghe Accounting Firm[3]. - The company strictly adhered to information disclosure regulations, with no instances of false records or misleading statements reported during the period[121]. - The company has maintained its internal control audit with Xin Yong Zhong He Accounting Firm for the year[85]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2013[135]. Market and Economic Conditions - The company emphasizes the risks associated with macroeconomic downturns and market competition[8]. - The retail industry is expected to face challenges in 2014 due to macroeconomic adjustments and increased pressure from e-commerce, which may lead to a decline in gross margins for department stores[63]. - The company has faced risks from a weakening domestic economy and slow progress in the e-commerce market[67]. Employee and Management Structure - The company has a total of 5,123 employees, with 3,560 in sales, 181 in finance, and 333 in technical roles[113]. - The total remuneration for all directors, supervisors, and senior management was 2.256 million yuan for the reporting period[114]. - The company emphasizes employee benefits, including social insurance and paid leave, as part of its compensation policy[113]. - The company’s management structure includes various experienced professionals, with several holding dual roles in other affiliated companies[110]. Social Responsibility - The company has engaged in social responsibility initiatives, donating over 520,000 RMB to charity and supporting employees in need[71].