LPSK(SZ:002333)2014-04-25 16:00Financial Performance - The company's operating revenue for 2013 was CNY 1,064,445,174.71, a decrease of 6.52% compared to CNY 1,138,647,851.30 in 2012[21] - The net profit attributable to shareholders for 2013 was CNY 86,661,040.15, representing a 2.65% increase from CNY 84,426,880.94 in 2012[21] - The total profit for the period was CNY 102.44 million, an increase of 2.54% compared to the previous year, while the net profit attributable to shareholders was CNY 86.66 million, up 2.65% year-on-year[28] - Basic earnings per share for 2013 were CNY 0.34, a 3.03% increase compared to CNY 0.33 in 2012[21] - The weighted average return on equity for 2013 was 6.61%, slightly up from 6.59% in 2012[21] Cash Flow and Investments - The net cash flow from operating activities was CNY 118,849,932.68, down 12.68% from CNY 136,115,956.94 in the previous year[21] - The company's cash flow from operating activities decreased by 12.68% year-on-year, primarily due to an increase in inventory and accounts receivable[29] - Total operating cash inflow for 2013 was CNY 1,264,548,454.78, down 6.28% from 2012, while cash outflow was CNY 1,145,698,522.10, a decrease of 5.56%[42] - Investment cash inflow surged by 917.92% to CNY 35,521,351.82, primarily due to the maturity of wealth management products[43] - The company reported a 48.33% increase in cash outflow from financing activities, totaling CNY 57,151,552.00, mainly due to dividend distribution and the cancellation of an equity incentive plan[42] Assets and Liabilities - The total assets at the end of 2013 amounted to CNY 1,491,315,639.05, reflecting a 2.76% increase from CNY 1,451,302,589.04 at the end of 2012[21] - The total liabilities remained stable at CNY 155,645,186.57 compared to CNY 144,887,524.71 at the beginning of the year, showing a slight increase of about 7.73%[158] - The total equity attributable to shareholders rose to CNY 1,335,670,452.48 from CNY 1,306,415,064.33, marking an increase of approximately 2.24%[158] - The company's total current assets decreased to CNY 575,675,487.58 from CNY 719,152,298.32, representing a decline of about 20%[156] - The total non-current assets increased to CNY 915,640,151.47 from CNY 732,150,290.72, indicating a growth of approximately 25.06%[157] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares to all shareholders[5] - The cash dividend for 2013 is proposed at RMB 2.00 per 10 shares, totaling RMB 50,260,360, which represents 58% of the net profit attributable to shareholders in the consolidated financial statements[74] - The total distributable profit for 2013 is RMB 326,754,198.34, with cash dividends accounting for 100% of the profit distribution[75] - The cash dividends for the past three years were RMB 50,260,360 in 2012 and 2013, and RMB 37,854,900 in 2011, with respective payout ratios of 59.53% and 43.51%[74] Research and Development - The company’s research and development investment was CNY 48.01 million, a decrease of 9.20% compared to the previous year[30] - R&D expenditure for 2013 was CNY 48,013,860.74, a decrease of 9.20% compared to 2012, representing 4.51% of operating revenue[40] Market and Competition - The company faces risks from intense competition in the aluminum profile industry and potential impacts from fluctuations in raw material prices[67] - The company is focusing on high-quality aluminum industrial profiles and plans to enhance its competitiveness by extending its industrial chain[67] - The company aims for a 20% increase in aluminum profile sales in 2014, with an overall operating profit target exceeding RMB 95 million[65] Corporate Governance and Management - The company has maintained its current management structure since 2007, with key personnel holding their positions for over 5 years[110] - The independent directors actively performed their duties, providing independent opinions on various matters including information disclosure and internal control evaluations[131] - The audit committee held 4 meetings during the reporting period to review the company's periodic reports and internal audit status[132] - The company has established a performance management system for senior management, ensuring accountability and the implementation of an internal accountability mechanism[139] Subsidiaries and Operations - The subsidiary Suzhou Mingde Aluminum Co., Ltd. achieved an operating income of RMB 203.82 million with a net profit of RMB 12.70 million, contributing positively to the overall performance[60] - The subsidiary Suzhou Roposkin Door and Window Co., Ltd. reported a loss of RMB 1.54 million due to a decrease in project contracts during the reporting period[61] - The company established a wholly-owned subsidiary, Tianjin Luopusi Jinmen Window Co., Ltd., with a registered capital of RMB 45 million in 2013, which is now included in the consolidated financial statements[69] Internal Controls and Audits - The internal control system is well-established, with no significant deficiencies reported during the evaluation period[145] - The internal control audit report confirmed that the company maintained effective internal controls related to financial reporting as of December 31, 2013[148] - The audit opinion issued by Ernst & Young Huaming was a standard unqualified opinion, affirming the fairness of the financial statements[151]