Landfar(SZ:000504)2014-07-11 16:00Financial Performance - The company reported a net profit of negative value for both 2011 and 2012, leading to a delisting risk warning from the Shenzhen Stock Exchange starting October 28, 2013[13]. - The company's operating revenue for 2013 was ¥26,280,915.01, a decrease of 65.79% compared to ¥76,816,619.30 in 2012[22]. - The net profit attributable to shareholders for 2013 was ¥13,801,492.10, representing a significant increase of 109.25% from a loss of ¥149,231,237.87 in 2012[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥22,702,302.78, an improvement of 86.4% from -¥166,935,091.30 in the previous year[22]. - The basic and diluted earnings per share for 2013 were both ¥0.04, an increase of 108% from -¥0.48 in 2012[22]. - The company's net loss for the year was CNY 15,331,834, with a significant operating loss of CNY 20,731,847 reported by its subsidiary, Beijing Saidi Jingwei Cultural Communication Co., Ltd.[58]. - The company reported a net loss of 22.70 million RMB after deducting non-recurring gains and losses for the fiscal year 2013[102]. - The company reported a total comprehensive income of CNY 24,373,556.45, compared to a loss of CNY 151,182,868.70 in the previous year[192]. Shareholder Information - The company’s largest shareholder, Hunan Trust, holds 79,701,655 shares, accounting for 25.58% of the total share capital[19]. - Major shareholders include Hunan Trust Co., Ltd. holding 25.58% and China Orient Asset Management Co., Ltd. holding 18.01%[109]. - The total number of shareholders at the end of the reporting period was 22,492, a decrease from 23,002 five trading days prior to the report[109]. Business Operations - The company has undergone significant changes in its main business focus, shifting from real estate to information technology and media industries since 2000[19]. - The company has not engaged in any mergers or acquisitions during the reporting period[20]. - The company established new product lines in cloud computing and data centers to drive revenue growth[34]. - The company has not engaged in any non-operating related party transactions during the reporting period[90]. Risk Management - The company emphasizes the importance of reading the detailed risk factors outlined in the board report for future developments[13]. - The company acknowledges risks related to policy changes, industry competition, and raw material price fluctuations that could impact its operations[69][70][72]. - The company plans to enhance cash flow management and improve collection rates on accounts receivable to address liquidity pressures[65]. - The company has committed to minimizing and regulating related party transactions during the period of Hunan State-owned Investment as the controlling shareholder[98]. Compliance and Governance - The company is committed to legal compliance and social responsibility, aiming for sustainable development[80]. - The company has obtained various operating licenses, which are essential for its media business operations[54]. - The company is actively taking corrective measures as mandated by the Beijing Securities Regulatory Bureau, including enhancing corporate governance and risk awareness[105]. - The governance structure includes a shareholders' meeting as the highest authority, a board of directors for decision-making, and a supervisory board for oversight, ensuring checks and balances[142]. Financial Position - The total assets at the end of 2013 were ¥125,894,719.13, reflecting a growth of 65.52% from ¥76,059,874.47 at the end of 2012[23]. - The total liabilities rose from CNY 96.8628 million to CNY 122.3241 million, an increase of about 26.2%[185]. - The total equity attributable to shareholders improved from a negative CNY 22.9653 million to CNY 1.0552 million, indicating a recovery in shareholder equity[185]. - As of December 31, 2013, current liabilities exceeded current assets by 67.02 million RMB, indicating significant uncertainty regarding the company's ability to continue as a going concern[102]. Cash Flow - The net cash flow from operating activities was -¥11,742,069.44, a decline of 36.91% compared to -¥4,275,759.23 in 2012[22]. - The total cash and cash equivalents at the end of the period increased to 27,915,062.65 CNY from 8,232,801.00 CNY at the beginning of the period, reflecting a significant improvement in liquidity[199]. - Cash inflow from investment activities was 5,118,160.15 CNY, while cash outflow was 23,693,829.06 CNY, leading to a net cash flow of -18,575,668.91 CNY from investment activities[198]. Management and Board Structure - The company has a total of 6 executive positions, all of whom reported no changes in shareholding during the reporting period[119]. - The current board includes 8 members, with 5 being independent directors, ensuring a diverse governance structure[120]. - The company has maintained a stable management team, with no new appointments or departures among key executives during the reporting period[122]. - The company has a structured salary system for its directors, supervisors, and senior management, which is approved by the shareholders' meeting[130]. Legal Matters - The company is currently involved in a civil lawsuit regarding a contract dispute, with a claim amount of 1,388,261 RMB[106]. - The company faced a lawsuit involving a land dispute with a claimed amount of 3.84 million yuan, currently in the appeal stage[86].