MY GYM(SZ:002621)2014-04-15 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.40 RMB per 10 shares to all shareholders, with a capital reserve conversion of 5 shares for every 10 shares held[6]. - A cash dividend of RMB 0.5 per share was approved, totaling RMB 7.5 million distributed to shareholders[69]. - The company distributed a cash dividend of RMB 1.50 per 10 shares for the year 2011, resulting in a total cash dividend of RMB 15,000,000, which was 17.03% of the net profit attributable to shareholders[71]. - For the year 2012, the cash dividend was RMB 0.50 per 10 shares, totaling RMB 7,500,000, representing 13.03% of the net profit attributable to shareholders[73]. - In 2013, the proposed cash dividend is RMB 0.40 per 10 shares, amounting to RMB 6,000,000, which is 12.11% of the net profit attributable to shareholders[75]. - The total distributable profit for 2013 was RMB 254,461,207.77, with cash dividends accounting for 100% of the profit distribution[75]. - The company has maintained a cash dividend policy with a minimum distribution ratio of 20% during its growth phase[75]. - The company has not made any adjustments or changes to its cash dividend policy during the reporting period[70]. Financial Performance - The company's total revenue for 2013 was ¥162,904,931.49, a decrease of 11.59% compared to 2012[36]. - Net profit attributable to shareholders was ¥49,546,380.63, down 13.93% year-over-year[36]. - The net profit after deducting non-recurring gains and losses was ¥46,817,308.27, a decline of 7% from the previous year[36]. - The company's cash flow from operating activities was ¥66,295,456.21, representing a decrease of 33.59% compared to 2012[36]. - Basic and diluted earnings per share were both ¥0.33, down 13.16% from the previous year[36]. - Total operating revenue was ¥162.10 million, a decline of 11% compared to the previous year, with a gross margin of 43.77%[50]. - The main business revenue from manufacturing plastic pipe equipment decreased by 11% to ¥162,098,341.74 in 2013[40]. - R&D expenditure increased to ¥13.12 million in 2013, accounting for 8.05% of operating revenue, up from 4.35% in 2012[45]. - The company reported a financial expense reduction, with financial costs decreasing from CNY -19,932,927.93 to CNY -13,606,831.31, reflecting an improvement in financial management[173]. - The total profit for the year was CNY 57,492,929.42, a decrease of 13.5% compared to CNY 66,141,850.01 in the previous year[179]. - The net profit for the year was CNY 49,080,961.91, down 13.0% from CNY 56,373,987.96 in the previous year[179]. Market Position and Competition - The company has become one of the largest suppliers of double-wall corrugated pipe manufacturing equipment in China, indicating a strong market position[13]. - The company faces risks related to macroeconomic policy changes that could impact market demand for its products[13]. - The company's main business has a high gross profit margin, which may attract increased competition in the market[14]. - The company has established a strong competitive edge in technology and cost-effectiveness compared to domestic and foreign competitors[14]. - The company maintains a competitive advantage in the dual-wall corrugated pipe manufacturing equipment market, despite higher pricing compared to domestic competitors[55]. - The company faces intensified competition in the machinery manufacturing industry but maintains strong competitive advantages in technology and cost[65]. Investment and Projects - The company is investing in the "Dalian Sanlei Plastic Machinery Equipment Industrial Park Phase I" and "Dalian Sanlei Technology Center" projects, which may face uncertainties in project benefits and land availability[14]. - The company has committed a total investment of RMB 34,600 million for projects, with a cumulative investment of RMB 8,535.85 million, achieving 27.19% of the planned investment progress[60]. - The acquisition of German company Drossbach involved an investment of RMB 2,299.86 million, which has been completed[62]. - The company plans to establish a wholly-owned subsidiary with an investment of RMB 1.6 billion, but this project is currently on hold due to the downturn in the machinery industry[62]. - The company aims to enhance its overall competitiveness by addressing delays in the construction of its investment projects due to land delivery issues[37]. Research and Development - The company reported a significant focus on research and development to enhance its product offerings and maintain competitive advantages[13]. - The company plans to focus on developing new products and technologies, particularly in the automated production line for double-wall corrugated pipes[37]. - The company has completed the development of a five-axis CNC machine prototype, indicating ongoing R&D efforts[62]. Corporate Governance - The company has established a sound corporate governance structure in accordance with relevant laws and regulations[121]. - The company’s board of directors includes members with diverse backgrounds and extensive experience in their respective fields[108]. - The company’s management team has been stable, with key personnel holding their positions for over a decade[106]. - The company has established a comprehensive performance evaluation and incentive mechanism for senior management, with a focus on transparency and compliance with relevant laws and regulations[123]. - The board of directors held 6 meetings during the reporting period, reviewing a total of 18 proposals, ensuring diligent governance practices[124]. - The supervisory board convened 6 times and reviewed 13 proposals, maintaining oversight of the company's financial and operational compliance[124]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors through designated platforms[124]. - The company maintains complete operational independence from its controlling shareholders, ensuring no interference in decision-making processes[137]. - The company’s independent directors actively engaged in monitoring financial conditions and provided independent opinions on significant matters, ensuring protection of minority shareholders' rights[130]. - The audit committee conducted thorough reviews of the company's financial status and internal controls, ensuring compliance with relevant regulations[134]. Employee and Stakeholder Relations - The company employed a total of 384 staff as of December 31, 2013, with production personnel constituting 67.45% of the workforce[112]. - The proportion of employees with a bachelor's degree or above was 17.45%, while those with a college degree or below accounted for 82.55%[113]. - The company has been actively training high-skilled personnel, with an increasing number of trainees each year[117]. - The company follows a piece-rate wage system for production staff, while management personnel are compensated based on position and performance evaluations[118]. - The company has a continuous relationship with its stakeholders, ensuring compliance and transparency in its operations[78]. Financial Audit and Compliance - The company's financial report is audited by Lixin Certified Public Accountants, ensuring the accuracy and reliability of its financial data[23]. - The financial audit report issued a standard unqualified opinion, affirming that the financial statements fairly represent the company's financial position as of December 31, 2013[151][159]. - The internal control self-assessment report indicated no major deficiencies in internal controls during the reporting period[145]. - The company has not experienced any significant accounting errors or omissions during the reporting period, and the established accountability system for major errors is functioning normally[148].