LETS(SZ:002398)2014-03-25 16:00Financial Performance - The company's operating revenue for 2013 was ¥1,772,355,254.13, representing a 35.45% increase compared to ¥1,308,448,170.84 in 2012[26]. - The net profit attributable to shareholders for 2013 was ¥226,478,001.05, a 16.58% increase from ¥194,276,139.02 in 2012[26]. - The net cash flow from operating activities reached ¥77,636,364.93, marking a significant increase of 146.87% from ¥31,448,663.41 in 2012[26]. - The total assets at the end of 2013 amounted to ¥2,332,351,512.46, an 18.71% increase from ¥1,964,821,385.34 at the end of 2012[26]. - The net assets attributable to shareholders increased to ¥1,626,063,249.78, reflecting a 14.52% growth from ¥1,419,865,248.73 in 2012[26]. - The basic earnings per share for 2013 was ¥0.86, up 16.22% from ¥0.74 in 2012[26]. - The company achieved total revenue of 1.772 billion yuan, a year-on-year increase of 35.47% from 1.308 billion yuan[38]. - The total profit reached 289 million yuan, up 16.06% from 249 million yuan in the same period last year[38]. - Net profit attributable to shareholders was 227 million yuan, reflecting a 17.01% increase from 194 million yuan year-on-year[38]. - The basic earnings per share were 0.86 yuan, compared to 0.74 yuan in the previous year, marking a growth of 16.22%[38]. Dividend Policy - The company proposed a cash dividend of 1.00 RMB per 10 shares (including tax) based on the total share capital as of December 31, 2013[6]. - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares for the 2013 fiscal year, based on a total share capital of 26,364,000 shares[122]. - The company has established a cash dividend policy that mandates a minimum of 20% of profits to be distributed as cash dividends during periods of significant capital expenditure[125]. - In 2013, the company achieved a net profit of RMB 226.48 million, with a cash dividend distribution of RMB 26.36 million, representing 11.64% of the net profit attributable to shareholders[123]. - As of December 31, 2013, the total distributable profit available for shareholders was CNY 118,318,706.66[126]. - The company retained CNY 91,954,706.66 of undistributed profits to be carried forward to the next year[126]. Market and Industry Conditions - The company faces market prosperity risks, raw material price fluctuations, human resource risks, and industry competition risks[15]. - The government has set a GDP growth target of 7.5% for 2014, which may provide new opportunities for the company's future development[37]. - The real estate market in China showed signs of recovery, with a cumulative price increase of 10.74% in 2013, which may positively impact the company's business[37]. - The company anticipates significant increases in labor costs due to rising living costs and social security expenses, and is working to mitigate these impacts through operational improvements[113]. - The company is addressing raw material price volatility risks by enhancing technological innovation and refining management practices to maintain cost advantages[111]. Innovation and R&D - The company has filed for 25 new patents, including 16 invention patents and 9 utility model patents, demonstrating its commitment to innovation[44]. - The company has a robust technological advantage, having undertaken 128 technology projects and applied for 68 patents, with 42 patents granted[78]. - The company emphasizes the integration of research, production, sales, and services to strengthen its core competitiveness and industry leadership[108]. - The company is committed to technological innovation and has adopted a "knowledge property" strategy to drive its growth[110]. - The company is committed to expanding its green building initiatives in response to national policies promoting sustainable urbanization[105]. Operational Efficiency - The company has established ten industrial bases across eight provinces, enhancing its market presence and operational efficiency[42]. - The company has a comprehensive management system utilizing OA and ERP systems to monitor business activities in real-time[80]. - The company has established a stable sales service network with 25 subsidiaries across 11 provincial-level administrative regions in China[80]. - The company has a production capacity of 1.2 million cubic meters of ready-mixed concrete annually through its subsidiary, Xiamen Tianrun Jinlong Building Materials Co., Ltd.[80]. Financial Management - The total cash inflow from investment activities was ¥388,554,853.84, a 228.02% increase compared to the previous year[61]. - The company’s cash and cash equivalents decreased by ¥100,704,912.63, a decline of 5,944.08% compared to the previous year[61]. - The net cash flow from investing activities significantly decreased due to the purchase of financial products and new investments in Xiamen Siming Shuangrun Microfinance Company, totaling 21.8 million yuan[62]. - The net cash flow from financing activities increased substantially, primarily due to a short-term loan of 20 million yuan obtained by subsidiary Zhejiang Kezhijie and an increase in bank bill margin returns[62]. - The company will finance its future development strategies through loans from financial institutions, capital market financing, and its own funds[114]. Governance and Compliance - The company has established a governance structure to protect the rights of all shareholders and creditors[127]. - There were no significant social safety issues or administrative penalties reported during the reporting period[128]. - The company has conducted multiple investor meetings to discuss its business philosophy and development strategy throughout early 2013[129]. - The company has not reported any significant losses or gains from entrusted management or contracting projects[146]. - The company has fulfilled all commitments made during the reporting period[157]. Shareholder Structure - The company’s total share capital increased from 20,280,000 shares to 26,364,000 shares, representing a 30% increase due to the 2012 profit distribution plan[175]. - The largest shareholder, Cai Yongtai, holds 17.76% of the shares, amounting to 46,810,909 shares, with 6,450,000 shares pledged[185]. - The total number of shares held by directors, supervisors, and senior management increased by 23,545,564 shares during the reporting period, with a total of 96,669,444 shares held at the end of the period[195]. - The company has a strong leadership team with members holding significant experience in various roles within the organization[198]. - The actual controller of the company remains Cai Yongtai, with no changes reported in the control structure over the past five years[189].