SEALAND SECURITIES(SZ:000750)2014-03-27 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.6 RMB per 10 shares, totaling 138,621,678.90 RMB, based on a total share capital of 2,310,361,315 shares as of December 31, 2013[2]. - The company reported a remaining undistributed profit of 100,887,515.93 RMB to be carried forward to the next year[2]. - The company’s total profit distribution plan for 2013 was approved at the 26th meeting of the sixth board of directors[2]. - A cash dividend of CNY 0.6 per 10 shares (including tax) was proposed for 2013, totaling CNY 138,621,678.90, which represents 44.90% of the net profit attributable to shareholders[140][141]. - The total distributable profit available for investors as of December 31, 2013, was CNY 239,509,194.83, with no capital reserve conversion to increase share capital planned for the year[140]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a year-over-year growth of 20%[36]. - The company reported a net profit margin of 15%, indicating strong operational efficiency and cost management[36]. - Net profit attributable to shareholders rose by 131.52% to approximately ¥308.75 million in 2013[38]. - Operating revenue for 2013 was approximately ¥1.82 billion, reflecting a 24.60% increase from 2012[38]. - Basic earnings per share increased by 114.29% to ¥0.15 in 2013[39]. - The company's net profit for 2013 was CNY 292,987,287.52, with a distributable profit of CNY 239,509,194.83 by the end of the year[139]. - The company reported a net profit of CNY 308,745,854.57 for 2013, indicating a significant increase in profitability compared to previous years[141]. Risk Management - The company is facing various risks including market risk, credit risk, liquidity risk, operational risk, and legal compliance risk, and has established an internal control and risk management system[11]. - The company emphasizes the importance of reading the board report for detailed risk factors and future outlook[11]. - The company has established a comprehensive risk management system to address market, credit, liquidity, operational, and legal compliance risks, ensuring that business operations remain within manageable risk levels[116]. - The company has implemented measures to enhance internal control and risk management, including a four-tier risk management structure to identify, assess, and monitor various risks[124]. Business Operations and Expansion - The company has maintained its primary business in the capital market services sector since its listing in August 2011[17]. - The company has expanded its securities business with multiple branches in major cities, including Beijing, Shanghai, and Shenzhen[32]. - The company has a total of 1,791,951,572 shares outstanding prior to the rights issue[25]. - The company has 60 branches, including major locations in Shenzhen and Shanghai[28]. - The company expanded its business network to cover 14 provincial regions, with 42 branches in Guangxi and 17 branches outside the region[78]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[36]. Shareholder Information - The largest shareholder, Guangxi Investment Group, holds 606,707,681 shares, representing 26.26% of total shares[200]. - The total number of shareholders at the end of the reporting period was 97,350, with a slight increase from 94,545 prior to the report[199]. - Guangxi Wuzhou Suofute Beauty Health Products Co., Ltd. holds 277,056,890 shares, accounting for 11.99% of total shares[200]. - Guangxi Guidong Electric Power Co., Ltd. owns 257,265,723 shares, which is 11.14% of total shares[200]. Audit and Compliance - The annual financial report has been audited by Da Xin Certified Public Accountants, which issued a standard unqualified audit opinion[3]. - The audit report for the financial statements of the reporting period issued by Da Xin Accounting Firm was a standard unqualified opinion[129]. - The company has established a compliance management structure that meets regulatory requirements and effectively operates, with a focus on risk identification and assessment[128]. Capital and Financing - The company raised a total of RMB 3,255,613,186.04 through a rights issue, with a net amount of RMB 3,191,514,917.52 after deducting issuance costs[175]. - The company completed a rights issue on November 26, 2013, raising a total of 3.5 billion RMB by issuing 518,409,743 new shares, increasing total share capital from 1,791,951,572 to 2,310,361,315 shares[189]. - The company raised capital of 325,561.32 million yuan through a rights issue in November 2013 to enhance its capital base and operational funds, focusing on expanding business scale, particularly in innovative sectors[115]. Innovative Business Development - The company is investing in technology development, allocating 100 million yuan towards enhancing its digital trading platform[36]. - The company is actively positioning itself in the new third board market to capitalize on industry changes and gain a competitive advantage[112]. - The company has successfully made progress in various innovative businesses and has restructured its business control and risk management systems, laying a solid foundation for improving profitability[107]. - The company is exploring new investment tools and profit models in its investment business to enhance profitability[111]. Market Position and Competition - The company’s securities brokerage business maintains a market share of approximately 50% in Guangxi, despite increasing competition[77]. - The company faces significant challenges from the increasing competition in the securities industry, particularly from large brokers with advanced innovative capabilities[109]. - The traditional channel income of the securities industry is expected to be further eroded due to the rapid development of information technology and the entry of new competitors from outside the traditional financial system[100]. Financial Health and Assets - Total assets increased to 5 billion yuan, reflecting a robust financial position and capacity for future growth[36]. - Total assets increased by 28.13% to approximately ¥14.59 billion compared to the end of 2012[38]. - The company's net capital at the end of 2013 was CNY 5,882.01 million, up from CNY 2,163.92 million in 2012[48]. - The company's total equity value has not experienced impairment since the completion of the major asset restructuring[166].