Jiangnan Water(SH:601199)2014-03-27 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 100,810,285.67 in 2013, with a 4.76% increase compared to RMB 96,000,000 in 2012[6]. - Total operating revenue for 2013 was RMB 585,557,288.82, reflecting an 11.93% increase from RMB 523,165,333.65 in 2012[24]. - The basic earnings per share for 2013 was RMB 0.62, up 5.08% from RMB 0.59 in 2012[25]. - The company's net profit increased by 4.76% year-on-year, with a significant contribution from the municipal engineering subsidiary, which saw a 73.63% increase in net profit due to a 56.93% rise in installation service revenue[43]. - Net profit for the year was 14,560.81 million yuan, up 4.76% from 13,899.60 million yuan, driven by growth in municipal engineering business profits[31]. - The company's total revenue for 2013 reached 524.614 million, an increase from 493.614 million in 2012, representing a growth of approximately 6.5%[140]. - The company reported a net profit of 31 million for the year, indicating a stable performance compared to previous periods[140]. Assets and Liabilities - The company's total assets reached RMB 3,020,853,332.37 at the end of 2013, marking a 19.11% increase from RMB 2,536,161,773.59 in 2012[24]. - The company's total liabilities increased to RMB 1,180,143,218.81 from RMB 785,706,243.75, reflecting a rise of about 50%[177][178]. - The total equity attributable to shareholders increased to RMB 1,840,710,113.56 from RMB 1,750,455,529.84, reflecting a growth of about 5.1%[178]. - The company's total liabilities as of the end of 2012 were 447,891.51 million RMB, indicating a significant leverage position[135]. - The total amount of unallocated profits at the end of the year was CNY 225,963,657.19, reflecting a decrease from CNY 240,991,657.19 in the previous year[199]. Cash Flow - The net cash flow from operating activities was RMB 458,750,229.74, representing a 9.63% increase from RMB 418,454,929.94 in 2012[24]. - The ending cash and cash equivalents balance decreased to ¥324,049,763.33 from ¥442,667,528.98, a drop of approximately 26.7%[189]. - Cash inflow from financing activities totaled ¥5,750,000.00, down from ¥10,000,000.00, showing a decrease of 42.5%[189]. - The company reported a net cash increase of -¥118,617,765.65, compared to -¥7,882,888.28 in the previous period, reflecting a worsening cash position[189]. Investments and Acquisitions - The company acquired a 30% stake in Everbright Water (Jiangyin) Co., Ltd. for 83.1 million RMB, marking a 1,072.04% increase in equity investment compared to the previous year[60]. - The company plans to acquire assets related to water supply in Jiangyin, including cash purchases of 13.49 million RMB for Gu Shan Water Supply Co., Ltd. and 13.07 million RMB for Jinlan Water Supply Co., Ltd.[104]. - The total cash outlay for the acquisitions amounts to approximately 50.96 million RMB[104]. - The company has invested CNY 235,341,330.51 in the Chengxi Water Plant construction project, which is now 100% complete[75]. Operational Highlights - The company achieved a water supply volume of 24,364.32 million cubic meters, exceeding the annual plan by 5.93% and increasing by 1.83% compared to the previous year[31]. - The company maintained a water fee recovery rate of 99.69% and a water quality compliance rate of 100%[31]. - The company completed the construction of the Chengxi Water Plant, which has a planned capacity of 200,000 m³/d, with an initial phase of 100,000 m³/d operational since July 30, 2013[45]. - The company is adapting to stricter environmental regulations, which are expected to increase operational costs and create more demand for environmental services[76]. Shareholder Information - The company proposed a cash dividend of RMB 0.19 per share, totaling RMB 44,422,000.00 to be distributed to shareholders[6]. - The company has a 30.51% dividend payout ratio based on the net profit attributable to shareholders in 2013[99]. - The total share capital of Jiangnan Water Co., Ltd. remains unchanged at 233,800,000 shares, with 65.59% being restricted shares[120]. Governance and Compliance - The company has established a governance structure that complies with the Company Law and Securities Law, ensuring transparent information disclosure and investor relations management[157]. - The company has a board of directors consisting of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[158]. - The company did not report any retired employees requiring financial support, indicating a stable workforce[150]. - The company has not experienced any changes in its board of directors, supervisors, or senior management during the reporting period[148]. Future Outlook - Future guidance suggests a targeted revenue growth of 10% for the upcoming fiscal year, driven by increased demand for water services[140]. - The company plans to expand its sewage treatment business and explore new environmental protection fields through acquisitions or management contracts[85]. - The company aims to achieve a comprehensive urban-rural water supply integration by 2014, including the renovation of rural pipelines and household water meters[84].