*ST惠天(000692) - 2013 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2013 was CNY 1,558,196,970.51, representing a 3.36% increase compared to CNY 1,507,528,174.87 in 2012[22]. - The net profit attributable to shareholders for 2013 was CNY 20,844,999.09, a decrease of 26.86% from CNY 28,499,119.55 in 2012[22]. - The net profit after deducting non-recurring gains and losses was CNY 2,276,673.60, showing a significant increase of 113.74% compared to a loss of CNY 16,569,096.77 in 2012[22]. - The basic earnings per share for 2013 were CNY 0.08, down 27.27% from CNY 0.11 in 2012[22]. - The weighted average return on equity for 2013 was 1.66%, a decrease of 0.66% from 2.32% in 2012[22]. - The company reported a total profit of CNY 33,927,844.12, down from CNY 41,888,095.62, a decline of 19.5%[173]. - The net profit for the year was CNY 19,891,641.12, a decrease of 32.4% from CNY 29,408,362.11 in the prior year[173]. Cash Flow and Assets - The net cash flow from operating activities decreased by 73.65% to CNY 44,487,801.52 from CNY 168,822,667.55 in the previous year[22]. - Cash and cash equivalents decreased significantly from CNY 492,131,834.31 to CNY 215,836,978.82, a decline of approximately 56.2%[163]. - Total assets at the end of 2013 were CNY 3,678,943,444.13, an increase of 11.15% from CNY 3,309,836,367.84 at the end of 2012[22]. - Total liabilities rose to CNY 2,407,694,977.60 from CNY 2,059,124,677.70, reflecting an increase of about 16.9%[165]. - Short-term borrowings increased significantly from CNY 340,000,000.00 to CNY 816,630,818.29, a rise of approximately 140.5%[165]. - The company’s inventory rose to 494,448,284.12 yuan, accounting for 13.44% of total assets, an increase of 8.18%[49]. Investments and Projects - A total of CNY 190 million was invested in new high-efficiency coal powder boiler systems, enhancing heating efficiency and reducing costs[33]. - The company plans to invest a total of 4,040.54 million yuan in the heat source renovation project, with 3,735.65 million yuan already invested, achieving 100% completion[60]. - The company has achieved a cumulative actual investment of 27,838.01 million yuan in major non-raising fund projects, with a completion rate of 89.32% for the coal powder furnace renovation project[61]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares to shareholders[6]. - The company plans to distribute cash dividends of ¥26,641,648.80, which is 127.81% of the net profit attributable to shareholders in 2013[72]. - There were no cash dividend distribution proposals in the previous three years, with the last distribution occurring in 2013[72]. Operational Efficiency and Cost Management - The company is focusing on reducing operational costs through internal resource integration and enhancing service quality to improve brand reputation[64]. - The cost of fuel decreased by 9.67%, amounting to CNY 634.39 million, while labor costs increased by 53.42% to CNY 68.93 million[40]. - The company’s gross margin for heating services was 10%, reflecting a 1.12% increase year-on-year[47]. Legal and Compliance Matters - The company is involved in a lawsuit with a claim amount of CNY 22.13 million, which is expected to impact liabilities[78]. - The company has maintained compliance with the Company Law and relevant regulations without any regulatory penalties[135]. - There were no significant accounting errors that required retrospective restatement during the reporting period[70]. Management and Governance - The total remuneration for directors, supervisors, and senior management in 2013 amounted to 279.31 million CNY, with an additional 118.28 million CNY received from shareholder units, totaling 397.59 million CNY[126]. - The company has implemented a performance-based reward system for its executives, linking compensation to operational performance[126]. - Independent directors attended all 12 board meetings during the reporting period, with no absences or proxy attendances[140]. Market and Business Strategy - The company aims to expand its market by acquiring local heating enterprises and diversifying its product structure into the industrial sector[64]. - The company plans to focus on market expansion and new product development in the upcoming year[171]. - The company is focusing on expanding its non-current assets, with long-term investments increasing from CNY 292,575,293.20 to CNY 299,453,229.13, a growth of about 2.5%[164].