Bohai Ferry (SH:603167)2014-03-18 16:00Financial Performance - In 2013, the company achieved a net profit attributable to shareholders of RMB 233,536,107.53, representing a 10.22% increase compared to RMB 211,890,954.85 in 2012[6]. - The company's operating revenue for 2013 was RMB 1,165,682,709.49, which is a 10.43% increase from RMB 1,055,616,980.50 in 2012[24]. - The basic earnings per share for 2013 was RMB 0.49, a decrease of 3.92% from RMB 0.51 in 2012[22]. - The net profit after deducting non-recurring gains and losses was RMB 173,861,987.67, which is a 28.97% increase from RMB 134,807,152.25 in 2012[24]. - The company reported a significant reduction in financial expenses by 75.51%, decreasing to CNY 10,527,288.19 from CNY 42,988,819.24[31]. - The company reported a net profit of CNY 951.51 million in 2013, compared to CNY 253.74 million in 2012, indicating a significant increase[103]. - The company reported a total comprehensive income of ¥233,387,802.25, compared to ¥211,890,954.85 in the previous year, an increase of 10.1%[149]. Assets and Liabilities - The total assets of the company at the end of 2013 were RMB 2,864,381,511.81, reflecting a 4.50% increase from RMB 2,740,904,459.01 at the end of 2012[24]. - The company's total liabilities decreased to CNY 274,547,454.62 from CNY 303,620,204.07, indicating improved financial stability[142]. - The company's total equity rose to CNY 2,589,834,057.19 from CNY 2,437,284,254.94, representing an increase of about 6.25%[142]. - The company's long-term investments increased to CNY 42,489,501.75 from CNY 32,814,163.82, indicating a growth of about 29.5%[141]. Cash Flow - The net cash flow from operating activities for 2013 was RMB 348,764,006.56, showing a slight increase of 0.08% compared to RMB 348,491,588.05 in 2012[24]. - The cash flow from investment activities improved by 54.99%, moving from a net outflow of CNY -557,597,326.45 to CNY -250,965,887.82[32]. - Cash inflow from financing activities was CNY 16,000,000.00, significantly lower than CNY 1,464,129,200.00 in the previous year, marking a decline of about 98.9%[158]. Market Position and Strategy - The company has achieved a market share of over 50% in vehicle transportation, attributed to the strategic location of its docking facilities and the efficiency of its operations[39]. - The company operates 9 roll-on/roll-off vessels in the Yantai-Liaoning route, maintaining the largest fleet and capacity in the Bohai Bay market, which is expected to sustain its competitive advantage for a long time[38]. - The company plans to launch a new international roll-on/roll-off route from Yantai to Pyeongtaek, South Korea, to facilitate trade and logistics between China and South Korea[52]. - The company aims to establish a diversified development strategy within five years, focusing on domestic roll-on/roll-off transport while expanding into related logistics and international cruise industries[50]. Shareholder Information - The total share capital increased to 48,140,000 shares, with 38,040,000 shares under lock-up and 10,100,000 shares freely tradable[75]. - The company has a commitment from Liao Yu Group to keep 168,730,178 shares locked for 36 months post-listing, which is not included in the lifted shares[75]. - The largest shareholder, Liaoyu Group, holds 36.7% of shares, totaling 176,665,079 shares, with an increase of 7,934,901 shares during the reporting period[89]. Employee and Management - The company has trained over a thousand employees across various levels, promoting employee engagement and ensuring their rights are protected[62]. - The total remuneration for directors, supervisors, and senior management in 2013 amounted to 9.5151 million yuan[108]. - The company has established a training program to enhance the overall safety awareness and emergency skills of crew members[111]. Governance and Compliance - The company has strengthened its corporate governance structure and internal control systems in compliance with relevant laws and regulations[115]. - The company has established a comprehensive internal control system that covers all operational aspects, ensuring compliance with relevant laws and regulations[128]. - The board of directors is responsible for the establishment and implementation of internal controls, with the supervisory board overseeing this process[128]. Future Outlook - Future guidance indicates a targeted revenue growth of approximately 10% for the upcoming fiscal year, driven by increased passenger and freight volumes[104]. - The company plans to invest in fleet modernization, with an estimated budget of CNY 500 million allocated for new vessels and upgrades[104]. - The company is focused on developing new technologies and products to improve operational efficiency and market competitiveness[92].