SUNSEA(SZ:002313)2014-04-15 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.20 RMB per 10 shares to all shareholders, based on the total share capital as of April 14, 2014[5]. - The company plans to distribute a cash dividend of RMB 0.20 per share, totaling RMB 6.24 million, based on a total share capital of 312 million shares[104]. - The cash dividend for 2012 was RMB 73.58 million, representing 42.92% of the net profit attributable to shareholders[104]. - The company has cumulatively distributed cash dividends of RMB 133.58 million over the last three years, which is 95.95% of the average annual net profit attributable to shareholders during that period[100]. - The company emphasizes a minimum cash dividend ratio of 20% during profit distribution, considering its growth stage and significant capital expenditure plans[106]. Financial Performance - The company reported a stable financial position with no changes in its main business since its listing[19]. - The company's operating revenue for 2013 was ¥2,079,223,758.25, representing an increase of 8.01% compared to ¥1,925,097,203.29 in 2012[31]. - The net profit attributable to shareholders decreased significantly by 69.65% to ¥52,027,351.82 from ¥171,428,769.31 in the previous year[31]. - The net cash flow from operating activities was negative at -¥385,820,808.48, worsening by 161.57% compared to -¥147,501,024.45 in 2012[31]. - The total assets at the end of 2013 were ¥3,956,506,539.34, a growth of 22.97% from ¥3,217,368,731.83 in 2012[31]. - The company reported a total sales volume of 130,488.5 million yuan in 2013, a decrease of 12.65% compared to 149,383.96 million yuan in 2012, while production volume increased by 8.52%[39]. - The company's accounts receivable increased by 3.81% to ¥1,295,853,372.11, reflecting revenue growth and extended settlement periods[59]. - The net cash flow from financing activities decreased by 83.92% to ¥151,254,351.43, due to a prior non-public stock issuance that raised significant funds[51]. Business Expansion and Market Strategy - The company is actively expanding into international markets, which may be affected by global economic conditions and political changes in target markets[12]. - The company is actively expanding into emerging markets such as Indonesia and India, achieving significant sales growth in these regions[30]. - The company aims to leverage its domestic FTTH experience to achieve significant growth in overseas sales through localized market expansion strategies[89]. - The company aims to expand its market presence and product offerings through strategic acquisitions and new product developments[80]. - The company expects a moderate increase in overall revenue and profit year-on-year in 2014, driven by the development of wireless infrastructure and engineering services[87]. Research and Development - Research and development investment increased by 39.73% to ¥106,129,422.90 from ¥75,954,041.27 in 2012[31]. - R&D expenditure rose by 39.73% to ¥106,129,422.90, accounting for 5.10% of operating revenue, up from 3.95% in the previous year[49]. - The company applied for 95 patents and obtained 88 patent authorizations in 2013, ranking among the top in its industry segment[64]. Operational Challenges - The company faces risks associated with new business expansions, including market environment changes and technological challenges[12]. - The company anticipates risks from fluctuations in operator investments, which could significantly impact sales performance and delivery pressure[91]. - The company faced a significant decline in sales from wired business due to a slowdown in domestic telecom operators' fiber broadband investments[30]. - The company's inventory increased by 82.83% to 63,299.98 million yuan, reflecting challenges in aligning production and sales[39]. Corporate Governance and Management - The company has engaged Ruihua Certified Public Accountants for auditing services, ensuring the accuracy of financial reports[20]. - The company has implemented measures to protect the rights of minority shareholders, ensuring their voices are heard in decision-making processes[107]. - The company has a diverse board with members holding multiple positions across various subsidiaries and related companies, enhancing strategic oversight[181]. - The current management team includes experienced professionals with over 10 years in the telecommunications industry, ensuring strong leadership[188]. - The total remuneration for the company's board members and senior management during the reporting period amounted to CNY 341.4 million, with the chairman and general manager receiving CNY 58.19 million[195]. Acquisitions and Subsidiaries - The company acquired Shenzhen Ruiyan and Chongqing Pinghu to enhance its industry chain and expand its engineering business, contributing profits during the reporting period[80]. - The company added 8 new consolidated subsidiaries compared to the previous year due to the establishment of new subsidiaries and mergers under non-same control[96]. - The company acquired 51% of Shenzhen Ruiyan for RMB 50 million, effective from January 1, 2013, and included its wholly-owned subsidiaries in the consolidation[96]. - The company acquired 51% of Chongqing Pinghu for RMB 22.44 million, effective from February 28, 2013, and subsequently held 100% ownership[97]. - The company acquired 51% of Yunnan Hekun for RMB 13.77 million, effective from March 31, 2013, and subsequently held 100% ownership[98]. Legal and Compliance - The company has maintained its registered address and contact information, ensuring transparency and accessibility for stakeholders[15][16]. - The company has not been involved in any major litigation or arbitration matters during the reporting period[116]. - There were no media inquiries or widespread doubts regarding the company during the reporting period[117]. - The company has not disclosed any related party transactions or agreements among major shareholders[169]. Stock and Shareholder Information - The total number of shares increased from 240 million to 318.23 million due to stock incentives and capital reserve transfers[153]. - The company distributed a cash dividend of RMB 3 per 10 shares and increased the share capital by 30% through capital reserve conversion[154]. - As of the end of the reporting period, the total number of shareholders was 37,393, with the largest shareholder holding 24.2% of the shares[169]. - The largest shareholder, Shenzhen Hairo Technology Co., Ltd., held 77,025,000 shares, with a decrease of 17,775,000 shares during the reporting period[169]. - The company has not implemented any share repurchase agreements during the reporting period[176].