TIANMA(SZ:000050)2014-03-04 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[5]. - The company reported a net profit of 143.55 million yuan for 2013, with a profit distribution plan to pay a cash dividend of 1 yuan per 10 shares, totaling 57.42 million yuan[108]. - The cash dividend for 2012 was 0.6 yuan per 10 shares, amounting to 34.45 million yuan, which represented 63.32% of the net profit attributable to shareholders[108]. - The company has implemented a cash dividend policy that ensures at least 20% of profits are distributed as cash dividends during significant capital expenditure periods[109]. Shareholding Structure - The controlling shareholder, AVIC International Holdings, holds a 45.62% stake in the company as of the end of the reporting period[20]. - Major shareholder, AVIC International Holdings, holds 261,976,786 shares, representing a significant portion of the company's equity[176]. - The total number of shareholders at the end of the reporting period was 46,640, an increase from 42,873 prior to the report[175]. - The company’s total share count at the end of the reporting period was 574,237,500 shares[170]. - The top ten unrestricted shareholders include notable entities such as Shenzhen Tongchan Group Co., Ltd. with 48,251,364 shares[176]. Financial Performance - The company achieved operating revenue of CNY 4,519,377,681 in 2013, representing a year-on-year increase of 4.29%[23]. - Net profit attributable to shareholders reached CNY 143,545,226, a significant increase of 163.79% compared to the previous year[23]. - The net cash flow from operating activities was CNY 1,421,687,316, reflecting a 74.02% increase year-on-year[23]. - Basic and diluted earnings per share were both CNY 0.25, up 163.79% from CNY 0.0948 in 2012[23]. - The company's total assets at the end of 2013 were CNY 7,976,761,304, an increase of 2.22% from the previous year[23]. - The net assets attributable to shareholders increased by 8.23% to CNY 1,486,033,795 at the end of 2013[23]. Market and Product Development - The company focused on consumer products and professional display markets, implementing a major customer strategy to enhance long-term partnerships[32]. - In 2013, the company launched multiple products in the client market, achieving significant technological advancements and winning several awards at the China Electronics Fair[35]. - The company plans to focus on consumer (mid-to-high-end smartphones, differentiated tablets) and professional display markets (industrial control, automotive, medical) in 2014[93]. - The company is investing in R&D to develop next-generation display technologies, including LTPS, Oxide, OLED, and flexible display technologies[97]. Research and Development - The company achieved a significant increase in R&D spending, totaling CNY 247,519,369, which is 5.5% of the total revenue of CNY 4,519,377,681[48]. - Research and development expenses increased by 30%, focusing on innovative technologies and product enhancements[161]. - The company plans to invest 200 million RMB in R&D for new technologies, aiming to innovate and improve product offerings significantly[193]. Risks and Challenges - The company has detailed macroeconomic risks, market risks, and technology upgrade risks in its board report[14]. - The company is facing macroeconomic risks due to the slowdown in China's economic growth, which is projected at 7.3% for 2014, the lowest in 20 years[95]. Corporate Governance and Management - The company has a diverse board with members holding various roles in other major companies, enhancing its strategic network[186]. - The current management team includes several vice presidents and a financial director, all of whom have extensive backgrounds in engineering and management[186]. - The tenure of the current board members is set to last until June 2016, providing stability in leadership for the next few years[184]. Legal and Compliance Matters - The company is involved in a significant legal case regarding a debt recovery of 60 million RMB, which remains unresolved as of the report date[120]. - The company did not face any administrative penalties during the reporting period[111]. Related Party Transactions - The total amount of major related party transactions for the reporting period was RMB 87,055 million for sales and RMB 61,548 million for purchases[129]. - The company followed market pricing principles for related party transactions, ensuring fairness and no harm to minority shareholders[129]. Future Outlook - The projected cumulative net profit for the first quarter of 2014 is expected to be between CNY 1,300 and CNY 1,600, indicating a growth of 800% to 1,000% compared to the previous year[88]. - The company has set a future revenue guidance of 1.8 billion RMB for the next fiscal year, projecting a growth rate of 20%[193]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase production capacity by 40% and reduce operational costs by 15%[194].