WEDGE(SZ:000534)2014-04-25 16:00Dividend and Profit Distribution - The company proposed a cash dividend of 1 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[2]. - The company plans to distribute a cash dividend of 1 CNY per 10 shares (including tax) based on a total share capital of 496,552,096 shares[59]. - The cash dividend payout ratio for 2013 was 32.77% of the net profit attributable to shareholders, with a total cash dividend amounting to CNY 49,655,209.60[61]. - The company reported a net profit of 15,150,714.81 CNY for the year 2013, with a cumulative distributable profit of 349,541,329.43 CNY by the end of the year[59]. Business Focus and Strategy - The company reported a significant change in its main business focus from power supply to real estate investment and development since 2006, with a current controlling shareholder holding 56.09% of the shares[15]. - The company plans to expand its business layout to regions including the Yangtze River Delta and Northwest China, focusing on residential project development[23]. - The company is actively pursuing project sales, development, and expansion in various cities as part of its strategic transformation[48]. - The company aims to enhance its core competitiveness by promoting a green and low-carbon development philosophy[44]. - The company is focusing on real estate development while exploring "green energy low-carbon industrial parks" and a "residential + commercial" product strategy[52]. Financial Performance - The company achieved operating revenue of CNY 1,122,349,637.90 in 2013, representing a 76.31% increase compared to 2012[17]. - Net profit attributable to shareholders reached CNY 151,507,148.11, a 15.32% increase from the previous year[17]. - The basic earnings per share (EPS) was CNY 0.31, up 14.81% from CNY 0.27 in 2012[17]. - The net cash flow from operating activities increased by 143.85% to CNY 573,042,532.75[17]. - Total assets at the end of 2013 were CNY 3,198,794,922.67, a 7.47% increase from the previous year[17]. - The company reported a total profit of CNY 2.41 billion for the year, reflecting a 26.13% increase[22]. Risk Management and Compliance - The company emphasizes the importance of risk factors in its operations, which are detailed in the board report section[11]. - The company has established a comprehensive internal control system to protect the interests of shareholders, especially minority shareholders[65]. - The company is committed to accepting supervision and management from securities regulatory authorities[74]. - The company has not recorded any liabilities related to insider trading or improper stock speculation[74]. Shareholder and Governance Structure - The largest shareholder, Wanze Group Co., Ltd., held 56.09% of the shares, amounting to 278,501,429 shares, with 272,500 shares pledged[92]. - The company has maintained a stable management structure with no significant changes in shareholding among key executives[102]. - The company continues to focus on maintaining strong governance with independent directors actively involved[102]. - The independent directors and supervisors have been actively involved in overseeing the company's operations and ensuring compliance with regulations[115]. Asset Management and Investments - The company has undergone multiple changes in its controlling shareholder, with the latest being the transfer of 29% of state-owned shares to Wanze Group, which now holds 278,501,429 shares[15]. - The company’s fixed assets increased to ¥308,270,506.94, primarily due to the addition of fixed assets from the Changzhou Wanze International Hotel project[39]. - The company reported a net profit of -9,492,691.81 for its subsidiary Shenzhen Wanze Real Estate Development Group Co., Ltd., with an operating income of 5,513,941.54[47]. - The company has provided debt guarantees to entities with asset-liability ratios exceeding 70% amounting to 74,500.00 million CNY[73]. Market and Product Development - The company plans to expand its market presence through strategic acquisitions and new product launches in the upcoming fiscal year[190]. - Research and development investments are expected to increase, focusing on innovative technologies to enhance product offerings[190]. - The company aims to launch two new products in the upcoming fiscal year, targeting a 15% increase in market share[196]. - User data indicates a growth in customer base by 12% over the last year, reaching a total of 1.5 million users[193]. Financial Reporting and Audit - The accounting firm responsible for the audit is Lixin Certified Public Accountants, ensuring the accuracy and completeness of the financial report[15]. - The company has committed to ensuring the authenticity and completeness of its annual report, with all board members present during the review[4]. - The company’s financial reporting adheres to national financial policies and accounting standards, ensuring compliance and accuracy[137].