GRG Banking(SZ:002152)2014-03-28 16:00Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2 RMB per 10 shares (including tax) and issue 2 bonus shares for every 10 shares held, based on a total share capital of 747,237,306 shares as of December 31, 2013[5]. - The company distributed a cash dividend of RMB 149,447,461.20, which accounted for 21.20% of the net profit attributable to shareholders[124]. - The cash dividend payout ratio for 2013 was set at 50% of the total distributable profit[124]. - The total number of shares after the 2013 dividend distribution increased to 896,684,767 shares, with a stock dividend of 149,447,461 shares issued[125]. - The company maintained a positive retained earnings balance of RMB 1,787,819,757.95 to be carried forward to the next fiscal year[125]. Financial Performance - The company reported a significant increase in revenue and profitability, with detailed financial metrics to be found in the financial report section[20]. - The company's operating revenue for 2013 was CNY 2,515,897,353.80, representing a 16.03% increase compared to CNY 2,168,409,553.00 in 2012[21]. - Net profit attributable to shareholders for 2013 was CNY 705,076,417.95, a 21.85% increase from CNY 578,631,983.99 in 2012[21]. - The net profit after deducting non-recurring gains and losses was CNY 634,057,715.23, up 13.62% from CNY 558,026,987.53 in 2012[21]. - The total assets at the end of 2013 reached CNY 5,055,167,431.33, a 25.74% increase from CNY 4,020,427,291.24 at the end of 2012[21]. Market Expansion and Sales - The company added 171 new bank clients in 2013, with a record high in domestic ATM sales[31]. - The overseas sales showed a recovery with significant orders from countries like Iran, Vietnam, and Saudi Arabia[31]. - The company shipped approximately 2,000 cash sorting machines in 2013, entering major banks' selection lists[32]. - The remote video teller machine (VTM) gained market traction, securing orders from major banks including ICBC and CCB[33]. - The company achieved operating revenue of CNY 2,515.90 million in 2013, a 16.03% increase from CNY 2,168.41 million in 2012[46]. Research and Development - The R&D expenditure for 2013 was CNY 182.32 million, representing 7.25% of operating revenue, and an increase from CNY 155.22 million in 2012[60]. - The company applied for a total of 385 patents in 2013, including 73 domestic invention patents and 57 PCT international patent applications[61]. - The company focuses on high investment and high output in R&D, continuously improving its core technology in ATM systems[73]. - The company has a sustainable innovation management team, which is crucial for its long-term development[74]. Operational Efficiency and Costs - The company's operating costs for 2013 were CNY 1,141.83 million, an increase of 10.34% compared to CNY 1,034.83 million in 2012, with a gross profit margin improvement of 2.34 percentage points[59]. - The gross profit margin for ATM equipment improved by 3.37 percentage points due to the mass production of self-developed ATM cores and cost control measures[56]. - The sales expenses increased by 31.90% to CNY 439.08 million, driven by higher sales volume and related costs[59]. - The company reported a significant increase in inventory, with the number of currency automatic processing devices in stock rising by 35.43% to 18,248 units[50]. Corporate Governance and Social Responsibility - The company has consistently emphasized the importance of shareholder rights and transparent communication in its corporate governance practices[126]. - The company’s commitment to social responsibility includes creating value for stakeholders and engaging in environmental protection initiatives[126]. - The company has established a helping fund and conducted various social welfare activities, including support for left-behind children in multiple provinces[129]. - The company maintains a commitment to environmental protection, with no significant water pollution and minimal air and noise pollution during production[128]. Future Outlook and Strategic Initiatives - The company anticipates a strong demand for financial service outsourcing, driven by the need for banks to adapt to market pressures and improve service quality[101]. - The company plans to focus on overseas markets, targeting regions such as Turkey, Iran, Thailand, Vietnam, Saudi Arabia, and Germany to promote its N series and other mature products[105]. - The company aims to enhance its market share in the cash recycling machine sector by strengthening its marketing network and expanding its influence in the industry[104]. - The company plans to leverage its core technologies to achieve breakthroughs in traditional business growth and explore new business opportunities[104]. Employee Development and Training - The total number of employees as of December 31, 2013, was 6,805, with 60% (4,083) being service personnel[197]. - The company conducted 660 training sessions totaling 32,000.5 hours, benefiting 16,968 employees[200]. - The training program aims to enhance employees' overall quality and improve the company's competitiveness[200]. - The company provides long-term incentive policies for key employees and outstanding talents[200]. Financial Management and Investments - The total amount of entrusted financial management funds reached 454,010,000, with 379,350,000 being the amount actually utilized, resulting in a total income of 2,810.75 million and a net income of 1,788.60 million[83]. - The company has maintained a consistent return rate across various financial products, with rates ranging from 1.24% to 6.00%[82]. - The financial management strategy appears to focus on low-risk, principal-protected products, as indicated by the numerous保本保 products listed[82]. - The company has not engaged in derivative investments or entrusted loans during the reporting period, indicating a conservative financial strategy[85].