SHREG(SZ:000803)2014-04-23 16:00Financial Performance - The company's operating revenue for 2013 was ¥177,034,094.26, representing a 17.18% increase compared to ¥151,082,171.86 in 2012[23] - The net profit attributable to shareholders decreased by 48.39% to ¥4,253,799.58 from ¥8,241,914.69 in the previous year[23] - The net profit after deducting non-recurring gains and losses was ¥2,752,711.68, down 62.15% from ¥7,273,062.06 in 2012[23] - Basic earnings per share decreased by 50% to ¥0.03 from ¥0.06 in the previous year[23] - The company reported a net profit of 425.38 million yuan for 2013, but the cumulative distributable profit remains negative at -2,464.87 million yuan, resulting in no profit distribution for the year[103] - The company has not declared any cash dividends for the past three years, with cash dividend amounts consistently at 0.00 yuan[105] Cash Flow and Investments - The net cash flow from operating activities was -¥92,697,801.42, a 191.28% increase in losses compared to -¥11,167,885.66 in 2012[23] - The company’s cash received from sales of goods and services was CNY 225,075,916.97, an increase of 26.25% compared to CNY 178,279,998.99 in the previous year[36] - Cash paid for goods and services amounted to CNY 269,591,542.99, a significant increase of 47.45% from CNY 182,837,108.96 in the previous year[36] - The company invested ¥18,550,000.00 during the reporting period, a decrease of 15.68% compared to ¥22,000,000.00 in the previous year[63] - The company plans to invest CNY 8 million in Jin Xin Company and provide a guarantee of CNY 25 million for the intermediary company to expand its automotive trade business[33] Assets and Liabilities - Total assets increased by 71.46% to ¥490,820,328.06 from ¥286,265,682.86 at the end of 2012[23] - The net assets attributable to shareholders rose by 12.86% to ¥147,281,749.96 from ¥130,499,743.60 at the end of 2012[23] - Accounts receivable decreased to ¥2,480,684.64, accounting for 0.51% of total assets, down from 2.37% in 2012, primarily due to the recovery of some overdue payments[54] - Inventory surged to ¥315,779,276.8, making up 64.34% of total assets, a substantial increase from 33.6% in 2012, mainly due to increased investment in the "Shengshi Tiancheng" project[54] - Short-term borrowings rose to ¥67,200,000.00, constituting 13.69% of total assets, down from 19.98% in 2012, reflecting a decrease of 6.29%[57] Business Operations and Strategy - The company has not made any changes to its main business since its listing[19] - The company is actively adjusting its business strategy to adapt to market changes and improve its competitive position[33] - The company's revenue for the reporting period primarily comes from real estate development, automobile sales, and silk production, with silk sales volume decreasing by 34.94% year-over-year to 2,526,984.4 units[38] - Real estate sales volume reached 5,034.02 units, driven by the new project "Shengshi Tiancity," while automobile sales volume increased by 33.07% compared to the previous year[40] - The company is developing the "Shengshi Tiancheng" project, which aims to be a high-end urban commercial complex, enhancing its market presence[60] Governance and Compliance - The company has established seven internal control systems to enhance governance and operational efficiency[37] - The company strictly adheres to the requirements of the Company Law, Securities Law, and relevant regulations, ensuring effective corporate governance and internal control[184] - The independent directors attended all board meetings and did not raise any objections to company matters during the reporting period[188] - The audit committee confirmed that the financial statements accurately reflect the company's assets, liabilities, and operating results as of December 31, 2013[192] - The company maintains independence from its controlling shareholder in personnel, assets, finance, organization, and business operations[194] Shareholder Information - The company has a total of 127,730,800 shares, with 29.33% being restricted shares and 70.67% being unrestricted shares[149] - The largest shareholder, Chengdu Jinyu Group Holdings Co., Ltd., holds 23.51% of the shares, amounting to 30,026,000 shares[155] - The second-largest shareholder, Nanchong Finance Bureau, holds 10.81% of the shares, totaling 13,810,000 shares, with 7,423,455 shares being restricted[155] - The company has 9,187 shareholders as of the report date, an increase from 8,714 in the previous period[155] Employee and Management - The company currently employs a total of 357 staff, with 251 in production roles, 55 in administration, and 12 in finance[179] - The company has established a performance-based salary policy that links employee income to performance assessments, enhancing employee motivation and stability[181] - The company has implemented targeted training programs to improve employees' professional skills and overall quality[181] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1.55 million, with actual payments totaling CNY 1.38 million[173] Risks and Challenges - The company recognizes risks from macroeconomic policies affecting real estate sales and potential restrictions on automobile purchases in urban areas[94] - The company faces funding risks due to the capital-intensive nature of the real estate industry and plans to strengthen financing management and improve fund utilization efficiency[97] - The company has not reported any significant changes in the feasibility of projects during the reporting period[79] Social Responsibility - The company has been actively fulfilling its social responsibilities, including wastewater treatment and workplace safety measures, contributing to sustainable development[106] - The company is not classified as a heavy polluting industry by environmental protection authorities, reflecting its commitment to environmental standards[106]