WLCSP(SH:603005)2014-03-31 16:00Financial Performance - The company's operating revenue for 2013 was CNY 450,433,205.85, representing a 33.53% increase compared to CNY 337,332,771.27 in 2012[17]. - The net profit attributable to shareholders for 2013 was CNY 153,732,160.74, an increase of 11.47% from CNY 137,911,768.88 in 2012[17]. - The net cash flow from operating activities reached CNY 203,819,606.97, up 38.18% from CNY 147,500,362.37 in the previous year[17]. - The total assets at the end of 2013 were CNY 1,061,318,853.90, a 55.96% increase from CNY 680,518,936.25 in 2012[17]. - The company's net assets attributable to shareholders increased by 19.73% to CNY 750,777,560.89 at the end of 2013, compared to CNY 627,079,932.87 in 2012[17]. - Basic earnings per share for 2013 were CNY 0.81, reflecting a 10.96% increase from CNY 0.73 in 2012[17]. - The weighted average return on equity for 2013 was 20.94%, a decrease of 1.37 percentage points from 22.31% in 2012[17]. - The company reported a significant increase in inventory, rising by 110.24% to CNY 35,824,876.75, attributed to expanded production scale and increased raw material procurement[31]. - The cost of sales increased by 34.06% to CNY 196.95 million, closely following the revenue growth[22]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 34,004,543.25 for the year[4]. - The company distributed a cash dividend of CNY 30 million (including tax) to shareholders based on a total share capital of 18.95 million shares for the year 2012[47]. - For 2013, the proposed profit distribution plan is to distribute CNY 34,004,543.25 (including tax) to shareholders at a rate of CNY 1.5 per 10 shares, pending shareholder approval[48]. Research and Development - Research and development expenses increased by 221.15% to CNY 47.90 million, accounting for 10.63% of total revenue[26][27]. - The company plans to invest CNY 20 million in Huajin Semiconductor Packaging Pilot Technology R&D Center, acquiring a 13.80% stake in the company[52]. - The company aims to complete the development and mass production of 12-inch wafer-level chip size packaging technology, along with advancements in TSV, MEMS, and biometric identification packaging technologies[42]. Market Position and Strategy - The company is positioned as the second-largest provider of mass production services for image sensor chip wafer-level packaging in the world, highlighting its technological and scale advantages[31]. - The domestic integrated circuit market is expected to grow significantly, with projections indicating a sales revenue of CNY 330 billion by the end of the 12th Five-Year Plan, reflecting an annual growth rate of 18%[40]. - The company is focusing on expanding its market applications, particularly in the CMOS market, to meet the growing demand from consumer electronics such as smartphones and tablets[42]. Governance and Shareholding Structure - The company has a governance structure with a board of directors consisting of 9 members, including 3 independent directors, enhancing corporate governance and protecting minority shareholders' interests[141]. - The shareholding structure shows that 35.27% of shares are held by Engineering IP Advanced Technologies Ltd., while 29.05% are held by Suzhou Industrial Park Venture Capital Co., Ltd.[60]. - The company has no controlling shareholder or actual controller due to the balanced distribution of shares among shareholders[67]. - The board of directors consists of 9 members, with no single shareholder having a controlling influence over the board[65]. Employee and Management Compensation - The total compensation for the chairman and general manager, Wang Wei, is 1.2244 million yuan before tax[70]. - The total compensation for the vice general manager, Vage Oganesian, is 1.9418 million yuan before tax[71]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 6.5012 million yuan[78]. - The company has implemented a compensation policy that combines a base salary with performance-based bonuses[82]. Internal Control and Compliance - The company has established a robust internal control system aimed at ensuring legal compliance, asset security, and the accuracy of financial reporting[93]. - The company has effectively maintained internal controls related to financial reporting in all significant aspects, ensuring compliance with operational needs and risk management[94]. - The company conducts annual impairment tests on goodwill arising from business combinations, comparing the carrying amount of related asset groups with their recoverable amounts[149]. Financial Reporting and Audit - The 2013 annual financial report was audited by Huapu Tianjian Accounting Firm, which issued a standard unqualified audit opinion[96]. - The financial statements are prepared based on the going concern principle, in accordance with the accounting standards applicable to enterprises, reflecting the company's financial position as of December 31, 2013[144]. - The management is responsible for the fair presentation of financial statements and maintaining necessary internal controls to prevent material misstatements due to fraud or error[98]. Taxation and Government Grants - The company maintains a corporate income tax rate of 15% due to its high-tech enterprise status, valid until 2013[198]. - The company reported a cumulative impact of -2,807,367.97 RMB on retained earnings due to income tax adjustments from prior periods[195]. - The company reported a significant increase in tax refunds received, totaling CNY 85.12 million compared to CNY 18.91 million in the previous year, representing a growth of approximately 349.5%[119].