COSL(SH:601808)2014-03-18 16:00Financial Performance - The company achieved a net profit of RMB 6,726,434,167 for the year 2013, with a net profit attributable to shareholders of RMB 6,715,967,063[5]. - The company achieved a revenue of RMB 27,957.9 million in 2013, representing a year-on-year growth of 23.6%[29]. - The net profit attributable to shareholders reached RMB 6,716.0 million, an increase of 47.3% compared to the previous year[29]. - Basic earnings per share were RMB 1.49, up 47.3% from RMB 1.01 in 2012[29]. - The company reported a net profit of approximately 6.72 billion RMB for 2013, with a cash dividend payout ratio of 31%[132]. - The gross profit margin for 2013 increased by 1.9 percentage points to 31.4%, attributed to controlled operating costs despite revenue growth[100]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year, representing a 15% year-over-year growth[200]. Dividends and Retained Earnings - The total distributable retained earnings as of the end of 2013 amounted to RMB 23,007,279,491 after distributing RMB 1,393,549,200 in dividends for the year 2012[5]. - A cash dividend of RMB 0.43 per share (including tax) is proposed, totaling RMB 2,051,784,560 to be distributed[5]. - The company plans to distribute a cash dividend of 4.3 RMB per 10 shares for the year 2013, amounting to a total cash dividend of approximately 2.05 billion RMB, which represents 31% of the net profit attributable to shareholders[132]. - The company reported a 30.1% increase in retained earnings, reaching RMB 23,007.3 million, supported by new equipment production and improved efficiency[105]. Operational Efficiency and Investments - The company completed capital investments of RMB 8.7 billion in 2013, marking the highest completion rate in recent years[37]. - The net cash flow from operating activities was RMB 8,463.2 million, a decrease of 3.0% from RMB 8,726.9 million in 2012[29]. - The total assets at the end of 2013 were RMB 79,262.3 million, reflecting a 6.1% increase from RMB 74,709.5 million at the end of 2012[29]. - The company’s operational efficiency is indicated by the available days usage rate and calendar days usage rate metrics, although specific figures are not provided in the extracted content[10]. - The company completed an H-share placement in January 2014, raising HKD 5.885 billion, which improved total assets and reduced the debt-to-asset ratio[46]. Market Expansion and Revenue Sources - The company is focused on expanding its market presence and enhancing its technological capabilities, although specific new products or technologies were not detailed in the provided content[12]. - International revenue amounted to RMB 8.90 billion, with a growth rate of 29.3%, accounting for 31.8% of total revenue[48]. - Domestic revenue accounted for 68.2% of total revenue, with a growth rate of 21.0%[47]. - The company successfully entered the Thailand Bay drilling market and secured contracts in Qatar, indicating successful international market expansion[59]. - The company plans to enhance capacity through flexible strategies such as buying, renting, and building new equipment to meet market demand[55]. Research and Development - The company obtained 158 patents in 2013, including 45 invention patents, bringing the total effective patents to 621[53]. - The group’s research and development expenditure rose to RMB 721.7 million, a 20.1% increase from RMB 600.8 million in the previous year[83]. - Total R&D expenditure amounted to RMB 721.7 million, which is 2.6% of total revenue, reflecting the company's commitment to enhancing its technological capabilities[95]. - The company is investing $50 million in research and development for new technologies aimed at enhancing operational efficiency[200]. Safety and Environmental Management - The company has maintained a good safety record with no major accidents reported in recent years[39]. - The company emphasizes safety and environmental protection, maintaining a stable safety production situation overall[181]. - The company is focusing on safety, environmental management, and improving operational efficiency and quality as part of its growth strategy[55]. - A focus on sustainability initiatives is expected to reduce carbon emissions by 30% over the next five years[200]. Risk Management - The company faces risks including safety risks during operations, geopolitical influences on international business, and potential environmental lawsuits due to increased environmental protection requirements[123]. - The company has established a robust risk management system that includes pre-, during-, and post-event controls, ensuring continuous risk evaluation and crisis management[124]. Corporate Governance and Compliance - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report, assuming legal responsibility for any misstatements[3]. - The company has committed to maintaining a structured quality management system in compliance with national and international standards[159]. - The company has not experienced any penalties or investigations from regulatory authorities during the reporting period[164]. - The company has implemented a stock appreciation rights plan for 7 senior executives, with a total of 5 million stock options granted at a price of HKD 4.09 per share, effective for ten years[138]. Future Outlook - The expected global exploration and development expenditure for 2014 is nearly USD 723 billion, an increase of 6%[118]. - The company aims for a revenue growth of no less than 10% in 2014, with capital expenditure planned between RMB 7 billion and 8 billion[120]. - The company plans to maintain stable profit margins while increasing operating costs and expenses in 2014[120]. - The company is considering strategic acquisitions to bolster its service offerings, with a budget of $100 million allocated for potential deals[200].