FOUNTAIN(SZ:000005)2014-04-25 16:00Financial Performance - The company's total revenue for 2013 was CNY 52.06 million, a decrease of 47.64% compared to CNY 99.42 million in 2012[21]. - The net profit attributable to shareholders was CNY -42.34 million, representing a decline of 292.29% from CNY 22.02 million in the previous year[21]. - The net cash flow from operating activities was CNY -111.72 million, a decrease of 162.25% compared to CNY 179.47 million in 2012[21]. - The basic earnings per share were CNY -0.0463, down 292.12% from CNY 0.0241 in 2012[21]. - The company reported total operating revenue of 52.06 million yuan, a decrease of 47.64% year-on-year, with main business revenue at 51.42 million yuan, down 2.86%[35]. - The company reported a net loss of CNY 4,031,443 from its subsidiary Shenzhen Century Star Property Development, with total assets of CNY 380,716,311 and a revenue of CNY 5,352,680.7[60]. - The company reported a net loss of RMB 42,344,755.22 for the year 2013, with no cash dividends distributed[79]. - The company’s unallocated profits were negative, amounting to RMB -1,000,069,420.11, leading to no profit distribution or capital increase proposals[80]. - The total comprehensive loss for the period was ¥57,867,871.14, contrasting with a comprehensive income of ¥22,162,765.66 in the previous period[180]. - The net profit for the period was -42,344,755.22 yuan, indicating a loss compared to the previous period's profit[196]. Assets and Liabilities - Total assets at the end of 2013 were CNY 1.19 billion, a decrease of 9.93% from CNY 1.32 billion at the end of 2012[21]. - The net assets attributable to shareholders were CNY 624.24 million, down 8.48% from CNY 682.10 million in 2012[21]. - The total amount of cash and cash equivalents decreased by 191.83%, resulting in a net decrease of CNY 2,655,288.12[48]. - The total liabilities and shareholders' equity amounted to ¥745,915,095.23, a decrease from ¥812,734,118.97 in the previous period[180]. - The company's equity attributable to shareholders decreased from CNY 682,099,361.53 to CNY 624,244,271.48, a decline of approximately 8.5%[170]. - The total current liabilities decreased from CNY 637,250,814.04 to CNY 564,079,909.49, a reduction of approximately 11.5%[170]. Business Operations and Strategy - The company plans to focus on developing new core business models related to distributed energy systems and new energy transportation infrastructure services[28]. - The company is expanding its low-carbon technology integration and environmental treatment business, having signed a strategic cooperation agreement to develop a system utilizing industrial waste heat for community energy supply[35]. - The company is adjusting its real estate management business strategy, aiming for a 30% increase in new revenue from a new business model, which has been postponed to the next fiscal year[35]. - The company plans to focus on urban renewal projects in first and second-tier cities, particularly in Shenzhen, with expectations to achieve over 20,000 square meters of land development rights in the upcoming year[63]. - The company anticipates a growth of over 30% in its real estate management business under a new commercial model in the next reporting period[64]. - The company has signed a cooperation agreement for the Nanshan Creative Star City project, which is planned to be a large green urban complex of up to 300,000 square meters[32]. Cash Flow and Investments - The net cash flow from operating activities decreased by 73.03% to CNY 96,464,709.07, primarily due to the absence of a CNY 200 million relocation compensation received in the previous year[48]. - Investment activity cash inflow surged by 54,210.58% to CNY 123,719,452.34, mainly from the recovery of CNY 128 million from a project transfer[48]. - The company reported a significant reduction in financial expenses by 69.21%, attributed to the repayment of a loan from SILVER TOP CHINA LIMITED[46]. - The company reported a significant decrease in sales revenue from 33,807,807.00 yuan to 11,584,893.00 yuan, reflecting a decline of approximately 65.7%[193]. - The total cash outflow for operating activities was 21,939,687.21 yuan, compared to 101,469,020.34 yuan in the previous period, indicating a reduction of 78.4%[193]. Shareholder and Governance - The company has a total of 914,333,607 shares, with 99.94% being unrestricted shares and 0.06% being restricted shares[102]. - The largest shareholder, China Investment Corporation, holds 20.15% of the shares, amounting to 184,240,445 shares, which are currently pledged[108]. - The total number of shareholders at the end of the reporting period was 110,257, an increase from 107,700 prior to the report[108]. - The company has not reported any changes in the shareholding of directors and senior management, reflecting stability in leadership[114]. - The company has maintained a consistent board of directors with no changes in the reporting period, ensuring continuity in governance[114]. Risks and Challenges - The company has highlighted various risks in its annual report, urging investors to be cautious[10]. - The company is facing delays in the Nanshan urban complex project due to changes in government approvals, impacting its financial status for the current year[33]. - The company is facing significant financial uncertainties due to the ongoing arbitration and its impact on expected compensation and preferred stock income[72]. - The arbitration case with Yourui Trading regarding the urban renewal project has introduced uncertainties in expected compensation and development period returns[97]. Audit and Compliance - The company received an unqualified audit report with an emphasis of matter from its accounting firm[95]. - The audit opinion for the financial statements was unqualified, indicating fair representation in accordance with accounting standards[160]. - The company has not reported any major accounting errors that require restatement during the reporting period[75]. - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring effective financial management and information disclosure[132].