CRUN(SZ:002272)2014-04-25 16:00Financial Performance - The company's operating revenue for 2013 was ¥814,631,098.67, representing a 15.10% increase compared to ¥707,746,144.17 in 2012[25] - The net profit attributable to shareholders was a loss of ¥29,237,106.52, a decrease of 306.86% from a profit of ¥14,133,833.77 in the previous year[25] - The net cash flow from operating activities was -¥90,080,453.90, which is a decline of 412.90% compared to -¥17,562,861.63 in 2012[25] - The total assets at the end of 2013 were ¥1,975,378,467.14, an increase of 14.94% from ¥1,718,658,185.66 at the end of 2012[25] - The net assets attributable to shareholders decreased by 2.85% to ¥1,210,343,840.98 from ¥1,245,876,447.50 in 2012[25] - The basic earnings per share for 2013 was -¥0.07, a decrease of 275.00% from ¥0.04 in 2012[25] - The diluted earnings per share also stood at -¥0.07, reflecting the same percentage decrease as the basic earnings per share[25] - The weighted average return on net assets was -2.39%, a decline of 4.18 percentage points from 1.79% in 2012[25] Revenue and Orders - New orders totaled CNY 1.08 billion, reflecting a year-on-year increase of 26.50%[36] - The company achieved operating revenue of CNY 814.63 million in 2013, representing a year-on-year growth of 15.10%[34] - The company’s sales revenue from the wind power hydraulic lubrication cooling equipment project reached CNY 9.75 million in 2013, with a total profit of CNY 330.02 million[80] - The company plans to achieve new orders of 1.5 billion yuan and operating revenue of 1 billion yuan in 2014[88] Costs and Expenses - The company's total operating costs for 2013 amounted to ¥706,364,371.83, representing a year-on-year increase of 25.58% compared to ¥562,463,422.40 in 2012[48] - The cost of boilers and accessories increased by 47.61% year-on-year, driven by higher sales revenue in this product category[48] - The cost of machine tools and accessories surged by 158.51% year-on-year, also attributed to increased sales revenue[48] - Research and development expenses decreased by 23.15% to ¥17,365,871.55 in 2013 from ¥22,598,041.17 in 2012, accounting for 2.13% of operating revenue[54] Risks and Challenges - The company faces risks including macroeconomic adjustment risks, market competition risks, and accounts receivable bad debt risks[14] - The company’s gross profit margin decreased due to increased competition and rising labor costs in the building materials sector[32] - The company’s total assets impairment provision increased due to changes in accounts receivable and inventory[32] Investments and Projects - The company has invested 10,589,248.03 CNY in long-term equity investments, maintaining the same amount as the previous year with a 0% change[70] - The company has a project for the annual production of 500 large hydraulic equipment, with a total investment of 15,000,000 CNY, of which 879,000 CNY has been invested, representing 63.40% of the planned investment[74] - The company plans to slow down the construction progress of the wind power hydraulic lubrication cooling equipment project to reduce investment risks[33] Shareholder and Dividend Information - The company plans not to distribute cash dividends or bonus shares for the year[6] - The total distributable profit for 2013 was 96,515,480.91 yuan, but no cash dividends were proposed due to insufficient cash flow[99] - The company did not distribute any cash dividends for the fiscal year 2013, as the net profit was -29,237,106.52 yuan[100] Share Capital and Structure - The company’s total share capital as of December 31, 2013, was 419,700,000 shares[99] - The company reported a total share count of 419,700,000, with 55.57% being restricted shares and 44.43% being unrestricted shares[114] - The largest shareholder, Luo Lihua, holds 21.01% of the shares, amounting to 88,176,350 shares[120] Management and Governance - The company has a board of directors consisting of 9 members, including 3 independent directors, with the current term running from March 20, 2013, to March 19, 2016[128] - The company has a diverse management team with members holding various educational backgrounds, including MBA and engineering degrees[129] - The independent directors fulfilled their responsibilities and the rights of minority shareholders were adequately protected during the decision-making process[100] Internal Controls and Audits - The company reported no significant internal control deficiencies during the reporting period[184] - The audit report issued by Beijing Xinghua Certified Public Accountants confirmed effective internal controls related to financial statements[186] - The company has established a complete internal control system to ensure the accuracy and completeness of financial reporting[182]