Kingdomway(SZ:002626)2014-03-18 16:00Dividend and Capital Management - The company plans to distribute a cash dividend of 5.00 CNY per 10 shares (including tax) to all shareholders based on the total share capital as of December 31, 2013[4]. - The company will increase its capital reserve by converting 6 shares for every 10 shares held by shareholders[4]. - The company plans to increase its total share capital from 180 million to 288 million shares through a capital reserve transfer of 6 shares for every 10 shares held[101]. - The cash dividend for 2013 is proposed at 90 million RMB, which represents 88.12% of the net profit attributable to shareholders[100]. - The company has maintained a stable cash dividend policy since its listing, with an average cash dividend payout ratio of 37.70% over the past three years[97]. Financial Performance - The company's total revenue for 2013 was ¥670,158,447.13, a decrease of 0.86% compared to the previous year[25]. - Net profit attributable to shareholders was ¥102,130,623.36, reflecting a growth of 0.43% year-over-year[25]. - The operating cash flow increased significantly by 66.61%, reaching ¥201,956,793.07[25]. - The total assets at the end of 2013 were ¥1,409,323,255.53, an increase of 4.40% from the previous year[25]. - The company reported a total of 53,415.10 million RMB in raised funds, with 43,712.37 million RMB already utilized[71]. Revenue and Sales Analysis - Sales volume of coenzyme Q10 products grew by 37.08%, with production costs decreasing by 5.8% and average prices increasing by 4.29%[25]. - Vitamin A sales volume declined by 5.32% and Vitamin D3 sales volume decreased by 30.33%, with average prices dropping by 4.96% and 43.89% respectively[25]. - The revenue from Coenzyme Q10 series increased by 42.95% to ¥366,711,371.38, driven by a 37.08% increase in sales volume and a 4.29% increase in average selling price[34]. - Vitamin D3 series revenue decreased by 60.91% to ¥35,264,026.72, attributed to a 30.33% drop in sales volume and a 43.89% decline in average selling price[34]. - The company's total sales revenue from goods and services received cash of ¥705,817,342.43, up from ¥648,200,222.29, representing an increase of approximately 8.5%[196]. Research and Development - The company invested ¥39,982,500 in R&D, conducting 32 research projects, with several achieving industrial application[29]. - R&D expenditure increased by 16.50% to CNY 39,982,503.28, accounting for 5.97% of operating revenue[47]. - The company is committed to innovation in the nutritional fortifier and biopharmaceutical sectors, focusing on diversification and the development of new products[88]. Risk Management - The company acknowledges risks related to product market development, exchange rate fluctuations, environmental protection, and litigation that may impact profitability[11]. - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements in its reports[4]. - The company faces risks related to exchange rate fluctuations, as over 60% of its products are exported[90]. - The ongoing litigation regarding the Kaneka patent may introduce uncertainties that could affect the company's performance[91]. Environmental and Social Responsibility - The company allocated over ¥2,400,000 for environmental improvement projects, enhancing its environmental quality and corporate image[28]. - The company actively engages in environmental protection and has integrated energy conservation and emission reduction into its key agenda[105]. - The company is not classified as a heavily polluting industry by national environmental protection authorities[106]. - The company has been recognized as a trustworthy enterprise in contract performance for the years 2012-2013 in Xiamen[104]. Corporate Governance and Management - The company has established a comprehensive supplier evaluation mechanism and quality management system to ensure product quality and safety[104]. - The company has maintained compliance with corporate governance regulations and has not received any administrative regulatory measures from supervisory authorities[152]. - The independent directors attended board meetings and shareholder meetings, with no objections raised against company matters during the reporting period[156]. - The company has a management reward scheme based on operational performance and individual performance, approved by the shareholders' meeting[143]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,653, compared to 5,669 five trading days before the annual report disclosure[126]. - The largest shareholder, Xiamen Jindawei Investment Co., Ltd., holds 35.00% of shares, totaling 63,003,304 shares, with 43,000,000 shares pledged[126]. - The second largest shareholder, Zhongmu Industrial Co., Ltd., holds 26.47% of shares, totaling 47,644,120 shares, with no shares pledged[126]. - The company has not proposed or implemented any share increase plans during the reporting period[132]. Employee and Workforce - The total number of employees as of December 31, 2013, is 1,392[147]. - The employee distribution by professional structure includes 1,006 production personnel, 179 technical personnel, and 88 management personnel[147]. - The educational background of employees shows 194 with a bachelor's degree or above, 243 with a college diploma, and 709 with high school or vocational education[149]. Financial Audit and Compliance - The company received a standard unqualified audit opinion from the auditing firm, confirming the accuracy of its financial statements[173]. - The audit committee held five meetings during the reporting period to review quarterly financial statements and internal audit reports, ensuring compliance with regulations and maintaining audit independence[157]. - The company has not experienced any significant accounting errors or changes in accounting policies compared to the previous year[93][94].