TRUCHUM(SZ:002171)2014-10-27 16:00Financial Performance - Operating revenue for the reporting period was CNY 2,197,326,780.37, representing an increase of 11.70% year-on-year[7]. - Net profit attributable to shareholders of the listed company decreased by 44.19% to CNY 14,623,839.75[7]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,557,553.05, down 6.27% year-on-year[7]. - Basic earnings per share were CNY 0.037, a decrease of 46.38% compared to the same period last year[7]. - The weighted average return on net assets was 1.36%, a decrease of 1.57% year-on-year[7]. - Operating profit increased by 452.52% year-on-year to ¥49,469,480.65, mainly due to optimized raw material structure and decreased raw material costs[21]. - Total profit rose by 46.83% year-on-year to ¥63,135,447.48, driven by increased operating profit despite a decrease in government subsidies[21]. - Net profit increased by 23.10% year-on-year to ¥39,387,735.12, with income tax expenses rising by 115.84% due to higher total profit and changes in tax rates for certain subsidiaries[21]. - Basic and diluted earnings per share increased by 34.29% to ¥0.094, reflecting the overall profit growth[21]. - The estimated net profit attributable to shareholders for 2014 is projected to be between 50.17 million and 60.20 million RMB, representing a change of 0.00% to 20.00% compared to the previous year[36]. - The net profit for 2013 was 50.17 million RMB, indicating a steady increase in production and sales scale for the company's products[36]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,221,933,906.40, a decrease of 2.86% compared to the previous year[7]. - Net assets attributable to shareholders of the listed company increased by 16.10% to CNY 1,080,699,465.68[7]. - The company's cash and cash equivalents decreased by 38.57% from the beginning of the year, totaling ¥210,503,448.46[18]. - Accounts receivable increased by 75.61% compared to the beginning of the year, reaching ¥463,720,121.48, primarily due to an increase in unsettled sales[18]. - Short-term borrowings decreased by 31.07% from the beginning of the year, amounting to ¥481,000,000.00[19]. - The company's capital reserve increased by 25.56% to ¥476,430,142.46, attributed to the issuance of shares to raise matching funds[19]. - The company's retained earnings increased by 22.83% to ¥187,576,240.72, mainly due to profit growth during the reporting period[19]. - The asset impairment loss surged by 4824.48% compared to the same period last year, totaling ¥4,362,223.12, due to increased provisions for bad debts and inventory write-downs[20]. - Fair value changes resulted in a profit of ¥7,853,943.33, a 209.23% increase from the previous year, driven by increased floating profits from futures contracts[20]. - The company reported a 145.07% increase in notes payable, reaching ¥252,403,450.00, primarily due to increased use of notes for raw material payments[19]. Cash Flow - The company reported a net cash flow from operating activities of CNY -86,948,227.30, a decline of 170.81%[7]. - Net cash flow from investing activities decreased by 297.05% to -¥121,085,402.24, mainly due to increased land payments by subsidiaries[22]. - Net cash flow from financing activities increased by 139.22% to ¥75,949,034.29, attributed to a non-public offering raising ¥115 million and increased bank financing[23]. Shareholder and Corporate Governance - The total number of ordinary shareholders at the end of the reporting period was 52,536[11]. - The largest shareholder, Anhui Chuangjiang Investment Group Co., Ltd., held 52.72% of the shares[11]. - The company has committed to a cash dividend distribution of no less than 10% of the distributable profit each year from 2012 to 2014, with a cumulative distribution of at least 30% of the average annual distributable profit over the three years[36]. - The company plans to propose a profit distribution plan at the end of each fiscal year for shareholder approval[36]. - The board of directors will consider the company's annual profit status and future funding needs when proposing dividend plans[36]. - The company has fulfilled its commitments regarding profit distribution as per the established guidelines[36]. Regulatory and Compliance Commitments - The company was recognized as a high-tech enterprise, allowing it to enjoy a reduced corporate income tax rate of 15% for three years starting from January 1, 2014[17]. - The company has received conditional approval from the China Securities Regulatory Commission for its asset purchase and fundraising plan[24]. - 安徽楚江投资集团有限公司 has committed to compensate 精诚铜业 if the actual net profit does not meet the forecasted cumulative net profit during the three accounting years following the completion of the major asset restructuring[29]. - The commitment includes deducting profits from related transactions when calculating the performance commitment completion level during the compensation period[29]. - The company guarantees that it will not engage in any business that competes directly or indirectly with 精诚铜业's main business[30]. - The commitments made by 安徽楚江投资 are legally binding and will remain effective until the major asset restructuring is approved by the China Securities Regulatory Commission[30]. - The company has undertaken to avoid any actions that could harm the interests of 精诚铜业 and its subsidiaries[30]. - The commitments include ensuring that all future related transactions are disclosed in accordance with relevant laws and regulations[31]. - The company has committed to a 36-month lock-up period for newly issued shares following the completion of the issuance[32]. - The controlling shareholder, Chujiang Group, has promised not to engage in any business that competes with the company, ensuring no similar business operations or investments[32]. - The company has established a commitment to respect the financial rights of the company and will not demand any form of illegal guarantees from it[33]. - The company has a policy that limits any shareholder from transferring more than 25% of their shares within a year of listing[33]. - The company will not engage in related transactions in product sales with its controlling shareholder[32]. - The company has a long-term commitment to avoid any conflicts of interest with its controlling shareholder[32]. - The company has received approval from its governing body for all commitments made in the agreements[33]. - The company will be liable for any damages caused by non-compliance with the commitments made in the agreements[33]. Accounting and Reporting Standards - The new accounting standards effective from January 26, 2014, have been adopted without significant impact on the company's financial status and operating results[38]. - The company has not engaged in any securities investments during the reporting period[37].