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博深股份(002282) - 2013 Q4 - 年度财报
BOSUNBOSUN(SZ:002282)2014-04-15 16:00

Financial Performance - The company's operating revenue for 2013 was CNY 566,047,540.35, representing a 4.59% increase compared to CNY 541,229,946.14 in 2012[24]. - The net profit attributable to shareholders for 2013 was CNY 16,135,262.96, a significant increase of 110.25% from CNY 7,674,387.93 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -12,704,072.64, indicating a decrease of 552.82% compared to CNY 2,805,546.45 in 2012[24]. - The net cash flow from operating activities improved to CNY 34,114,883.24, a 285.47% increase from CNY -18,393,260.02 in 2012[24]. - The basic earnings per share for 2013 was CNY 0.07, up 133.33% from CNY 0.03 in 2012[24]. - The total assets at the end of 2013 were CNY 1,079,858,181.43, a decrease of 10.05% from CNY 1,200,551,105.99 at the end of 2012[24]. - The net assets attributable to shareholders at the end of 2013 were CNY 779,873,520.55, a slight decrease of 0.48% from CNY 783,612,350.37 in 2012[24]. - The weighted average return on equity for 2013 was 2.07%, an increase from 0.97% in 2012[24]. Revenue Breakdown - The company achieved a total operating revenue of 565.05 million yuan in 2013, representing a year-on-year increase of 4.59%[40]. - The main business revenue reached 565.39 million yuan, with a year-on-year growth of 6.14%[40]. - Net profit attributable to shareholders of the parent company was 16.14 million yuan, showing a significant year-on-year increase of 110.25%[40]. - The electric tools segment generated sales revenue of 89.41 million yuan, reflecting a 23% increase compared to the previous year[39]. - The company established partnerships with 24 tile manufacturers, resulting in sales revenue of 50.98 million yuan from the tile tools project[39]. - The Thai subsidiary achieved a revenue of 45.14 million yuan and turned profitable with a net profit of 450,000 yuan[40]. Cost Management - The company focused on cost control, with total expenses accounting for 25.46% of revenue, despite a decrease in sales expenses[38]. - The company emphasized improving inventory turnover and reducing production costs as part of its operational strategy[38]. - Sales expenses decreased by 17.76% to 5,704.65 million yuan, while management expenses increased by 9.60% to 6,455.76 million yuan[52]. - Financial expenses surged by 208.03% to 2,251.73 million yuan due to increased interest expenses and foreign exchange losses[52]. - The company reduced its inventory by 32.51%, resulting in a lower inventory level of 837,171 units[46]. Research and Development - The company holds 109 valid national patents, including 11 invention patents, and received 12 authorized patents in 2013, of which 3 are invention patents[54]. - Key R&D projects include the development of diamond tools for various applications, with several products rated as domestically leading[55]. - The company is developing specialized diamond grinding heads for epoxy resin flooring, aiming for a lifespan of over 400 square meters per unit[56]. - A new diamond circular saw blade for glass mosaic processing is being developed, targeting a cutting speed of 0.5 m/min and a lifespan of 100 m²[56]. - The R&D focus includes advanced diamond grinding tools and saw blades designed to enhance efficiency and durability in various applications[55]. Market Strategy - The company plans to enhance product development and optimize product structure to improve profitability in 2014[43]. - The overall strategy emphasizes market expansion through new product development and technological advancements in diamond tool manufacturing[55]. - The company has identified opportunities in the high-end electric tools market, which is currently dominated by foreign brands, but local brands are gaining market share[107]. - The company aims to enhance brand recognition and reputation while restructuring its industry image and position[111]. - The focus will be on customer-centric strategies to drive steady sales growth through market demand exploration and product positioning[111]. Financial Strategy - The company has established a cash dividend policy that mandates a minimum of 80% of profits to be distributed as cash dividends during mature development stages[139]. - The company aims to optimize its asset structure and reduce operational risks through the divestment of non-core assets[170]. - The company has not raised any funds during the reporting period, and there are no previous funds used in this period[95]. - The company’s overall financial strategy appears conservative, with no significant risks taken in investments or fundraising activities[95]. Challenges and Risks - The company faced challenges in the domestic market, with a decline in sales due to economic slowdown and product demand issues[37]. - The company faces anti-dumping risks from the U.S., with varying tax rates from 0% to 9.55% based on administrative reviews[118][120]. - The company faces risks from fluctuations in raw material prices, which account for over 60% of total product costs, particularly in metal powders[123]. - The hard alloy tool industry faces challenges with low precision and durability in domestic products, indicating a need for technological advancements[108]. Shareholder Information - The total number of shareholders at the end of the reporting period was 19,161, a decrease from 19,821 five trading days prior[195]. - The largest shareholder, Chen Huairong, holds 15.1% of the shares, totaling 34,031,760, with a decrease of 4,000,000 shares during the reporting period[195]. - The second-largest shareholder, Lü Guiqin, holds 13.4% of the shares, totaling 30,207,060, with no change in holdings[195]. - The company has not issued any new securities in the past three years[191]. Corporate Governance - The company has maintained compliance with commitments made by major shareholders to avoid competition with the company[173]. - The company has not faced any penalties or corrective actions during the reporting period[176]. - The company engaged Zhongqin Wanxin Accounting Firm for 9 consecutive years, with an audit fee of 550,000 CNY for the current period[175].