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通达股份(002560) - 2013 Q4 - 年度财报
TongDa CableTongDa Cable(SZ:002560)2014-04-25 16:00

Financial Performance - The company's total revenue for 2013 was CNY 916.71 million, a decrease of 5.74% compared to 2012[25]. - Net profit attributable to shareholders was CNY 59.48 million, reflecting a growth of 5.55% year-over-year[25]. - The net cash flow from operating activities was CNY -8.03 million, a significant decline of 97.98% compared to the previous year[25]. - The company's main business revenue decreased by 19.57% to CNY 735.24 million, while the main business cost fell by 21.16% to CNY 620.79 million[33]. - The gross margin for main products improved by 1.71 percentage points to 15.57%[33]. - The company achieved a basic earnings per share of CNY 0.58, up 5.45% from the previous year[25]. - The total assets at the end of 2013 were CNY 1.45 billion, down 8.59% from the previous year[25]. - The cash dividend amount for 2013 was CNY 27,960,623.40, representing 47.01% of the net profit attributable to shareholders in the consolidated financial statements[94]. - The cash dividend policy for 2013 included a distribution of CNY 2.00 per 10 shares, with a total cash dividend amounting to CNY 27,960,623.40, which accounted for 100% of the total distributable profit[94]. Risks and Challenges - The company faces risks in 2014 due to uncertainties in international economic development, potential slowdown in sales revenue growth, and rising operating costs[14]. - The company operates in the cable manufacturing industry, which is subject to internal competition and fluctuations in raw material prices[14]. - The company has undergone continuous supervision by Minsheng Securities from March 3, 2011, to August 11, 2013, and by Zhongyuan Securities from August 11, 2013, to December 31, 2015[22]. - The company has established a hedging system to mitigate risks from raw material price fluctuations, specifically for aluminum futures[68]. Research and Development - Research and development expenses increased by 2.87% to CNY 16.05 million, indicating a commitment to innovation[33]. - The company obtained two invention patents and three utility model patents in 2013, enhancing its product portfolio[33]. - The company has obtained 23 utility model patents and 5 invention patents related to wire production, enhancing its R&D capabilities in high voltage wire technology[55]. - New products for electrified railways have received certification from the CRCC, allowing participation in relevant bidding activities and expanding market opportunities[57]. - The establishment of the Henan Ultra-high Voltage Wire Engineering Technology Research Center is expected to improve R&D levels and provide strong technical support for sustainable development[55]. Corporate Governance - The company has maintained a stable governance structure with no reported conflicts of interest among major shareholders and management[135][136][137]. - The management team includes experienced professionals with significant industry backgrounds and qualifications[141]. - The company has a commitment to compliance with relevant laws and regulations, ensuring a transparent operational framework[143]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[162]. - The independent directors receive an annual allowance of 30,000 yuan each, with the company covering travel expenses for attending meetings[147]. Shareholder Information - The company reported a total share count of 103,332,800, with 61.77% being restricted shares and 38.23% being unrestricted shares[120]. - The largest shareholder, Shi Wanfu, holds 28.37% of the shares, totaling 29,310,464 shares, with no pledged shares[132]. - The second-largest shareholder, Ma Hongju, holds 23.89% of the shares, totaling 24,682,496 shares, with no pledged shares[132]. - The company has not engaged in any financing or securities lending activities during the reporting period[127]. - The company has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities[135][136][137]. Operational Highlights - The company has completed the construction of the 500kV and above ultra-high voltage transmission line technology renovation project, with expected project returns nearly realized[58]. - The company has become one of the largest manufacturers of ultra and extra-high voltage overhead wires in China, with strong competitive advantages in both domestic and international markets[83]. - In 2013, the company was involved in nearly 300 domestic high and ultra-high voltage transmission line projects, including key national projects, and has exported products to over 40 countries and regions[82]. - The company plans to enhance its marketing system and technical innovation capabilities to maintain its leading position in the domestic wire industry and become a world-class cable manufacturer[83]. Employee and Management Structure - The company had a total of 274 employees as of December 31, 2013, with a professional structure comprising 48.18% production personnel, 15.33% technical personnel, and 9.85% sales personnel[153]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 1.0374 million yuan, with the chairman receiving 164,000 yuan[148]. - The company has established a competitive salary and welfare system to attract and retain talent, aligning with its development goals and performance management[156]. - The company has a training program in place to enhance employee skills and ensure the achievement of operational goals[156]. Financial Management - The company has established a comprehensive financial accounting system and independent decision-making capabilities, ensuring no shared bank accounts with the controlling shareholder[182]. - The company has implemented a responsibility system for major errors in annual report disclosures, ensuring accountability and quality in financial reporting[189]. - The company received a standard unqualified audit opinion from Da Xin Accounting Firm for the financial year ending December 31, 2013[192]. - The company has a robust internal control system that complies with relevant laws and regulations, enhancing operational transparency and investor protection[186].