BRILLIANT(SZ:000628)2014-03-20 16:00Financial Performance - The company's operating revenue for 2013 was CNY 2,078,407,148.79, representing a 47.75% increase compared to CNY 1,406,710,288.47 in 2012[25]. - The net profit attributable to shareholders for 2013 was CNY 13,996,882.08, a 70.35% increase from CNY 8,216,568.01 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3,303,752.39, showing a decrease of 61.79% compared to CNY 8,645,537.82 in 2012[25]. - The basic earnings per share for 2013 was CNY 0.064, up 72.97% from CNY 0.037 in 2012[25]. - The total assets at the end of 2013 were CNY 3,345,331,604.61, an increase of 17.03% from CNY 2,858,554,245.05 at the end of 2012[25]. - The net assets attributable to shareholders at the end of 2013 were CNY 210,638,260.53, a 7.33% increase from CNY 196,252,888.29 at the end of 2012[25]. - The net cash flow from operating activities for 2013 was CNY 134,632,957.26, a slight increase of 2.09% from CNY 131,870,382.78 in 2012[25]. - The weighted average return on equity for 2013 was 6.88%, up from 4.6% in 2012[25]. Business Segments - The company has maintained a diversified business model, including construction, futures brokerage, real estate, and cabinet manufacturing[20]. - The construction business saw significant revenue growth, attributed to increased engineering and infrastructure construction income[37]. - The futures brokerage business faced challenges due to intensified competition, leading to a decrease in operating income and net profit despite an increase in trading volume[38]. - The company maintained a high occupancy rate in its leasing business despite macroeconomic slowdowns[39]. - The kitchen cabinet manufacturing segment focused on cost control and quality management to improve operational performance[40]. Revenue and Costs - The construction industry accounted for 75.14% of total revenue in 2013, up from 68.73% in 2012, while the real estate sector increased its share to 15.60% from 12.53%[42]. - The construction segment's cost was CNY 1,482,110,090.30, representing 83.1% of total operating costs, which increased from 82.43% in 2012[46]. - The real estate sector's cost for sales and rental development was CNY 241,602,939.79, which accounted for 13.54% of total operating costs, up from 9.75% in 2012[46]. - The company reported a total operating cost of CNY 1,783,548,642.93 in 2013, compared to CNY 1,115,539,323.47 in 2012[50]. Cash Flow and Financing - Operating cash inflow decreased by 10.28% to ¥1,660,055,519.49 compared to ¥1,850,176,443.82 in 2012[58]. - Investment cash inflow dropped significantly by 87.50% to ¥15,454,232.21, primarily due to the disposal of subsidiaries in 2012[60]. - Investment cash outflow surged by 692.17% to ¥185,845,674.34, mainly due to an increase in term deposits maturing after three months[60]. - Financing cash inflow decreased by 50.84% to ¥221,180,000.00, attributed to a reduction in bank borrowings[60]. Shareholder and Governance - The largest shareholder, Chengdu High-tech Investment Group Co., Ltd., holds 22.45% of the shares, totaling 49,281,550 shares[161]. - The actual controller of the company is the Chengdu High-tech Industrial Development Zone Management Committee, an agency of the Chengdu Municipal Government[167]. - The company has not implemented cash profit distribution in the past three years, despite having positive undistributed profits[101]. - The company has established investor consultation channels to address concerns regarding governance, development strategy, and sustainable growth[108]. Management and Personnel - The company has a total of 1,355 employees, including 251 production staff, 83 sales personnel, and 102 technical staff[200]. - The company has implemented a compensation policy that combines incentives and constraints, linking employee income to the company's operating performance and individual work performance[200]. - The chairman and director Ping Xing was removed from his position due to criminal allegations on December 30, 2013[198]. - General Manager Wang Peijin resigned for personal reasons on January 16, 2013[198]. Future Outlook and Strategy - The company aims to enhance the systematic and effective management of its construction business to improve market competitiveness[90]. - In 2014, the company plans to focus on existing resource advantages to explore sustainable and healthy development models, aiming for progress in risk control and market expansion[91]. - The company faces risks from external economic uncertainties and internal challenges such as resource dispersion and insufficient business development[94].