Der(SZ:002631)2014-03-26 16:00Financial Performance - The company's operating revenue for 2013 was CNY 552,293,452.01, representing a 30.31% increase compared to CNY 423,830,318.98 in 2012[25]. - The net profit attributable to shareholders for 2013 was CNY 91,935,174.45, which is a 26.4% increase from CNY 72,730,947.59 in 2012[25]. - The net profit after deducting non-recurring gains and losses was CNY 92,029,879.24, up 33.73% from CNY 68,817,286.22 in 2012[25]. - The net cash flow from operating activities increased by 61.95% to CNY 123,000,083.09 from CNY 75,949,051.09 in 2012[25]. - The basic earnings per share for 2013 was CNY 0.57, a 26.67% increase from CNY 0.45 in 2012[25]. - Total assets at the end of 2013 were CNY 1,575,538,922.03, an 18.31% increase from CNY 1,331,726,102.85 at the end of 2012[25]. - The net assets attributable to shareholders increased by 7.29% to CNY 1,300,717,412.74 from CNY 1,212,302,819.29 at the end of 2012[25]. - The weighted average return on equity for 2013 was 7.34%, up from 6.08% in 2012[25]. - Operating profit reached CNY 110,422,713.64, reflecting a growth of 36.11% compared to the previous year[32]. - The company achieved total operating revenue of CNY 552,293,452.01, a year-on-year increase of 30.31%[32]. Cash Flow and Investments - The net cash flow from operating activities increased by 61.95% to 123,000,083.09 yuan, driven by higher sales volume[49]. - Investment activities resulted in a net cash outflow of -677,181,597.33 yuan, a significant increase of 374.29% compared to the previous year[48]. - The total amount of raised funds is RMB 834.69 million, with RMB 110.63 million invested during the reporting period[74]. - The company has a total of RMB 139.99 million remaining for the flooring and fiberboard projects, which are yet to be utilized[78]. - The company allocated RMB 76.28 million for the production of 120,000 cubic meters of medium-density fiberboard in Liaoning during the reporting period[77]. Research and Development - Research and development investment rose to CNY 17,440,558.14, a 6.66% increase from the previous year[34]. - Research and development expenses rose to 1,744.06 million yuan, a 6.66% increase year-on-year, representing 3.16% of operating revenue[44]. - The company has invested 100 million RMB in research and development for innovative flooring technologies[176]. Market and Sales - The company sold 769.04 thousand square meters of flooring, a 22.58% increase in sales volume compared to 2012[37]. - The company expanded its market presence, particularly in East China, where revenue increased by 40.33% to 125,521,120.97 yuan[51]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[176]. - A strategic acquisition of a local competitor is planned, which is anticipated to enhance production capacity by 30%[176]. Risks and Challenges - The company faces risks including brand management, real estate market regulation, sales channel control, and industry competition[14]. - The wood flooring industry is expected to see a shift towards brand competition, with weaker companies likely to be eliminated from the market[92]. Corporate Governance and Compliance - The company has a robust internal control system and adheres to legal regulations to ensure accurate and timely information disclosure[109]. - The company has implemented various governance documents to ensure compliance with legal and regulatory requirements[193]. - The board of directors is elected in compliance with legal regulations, with independent directors focusing on protecting minority shareholders' rights[194]. Shareholder Information - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares to all shareholders[6]. - The cash dividend for 2013 represents 17.65% of the net profit attributable to shareholders, which was CNY 91,935,174.45[106]. - The largest shareholder, Del Group Co., Ltd., holds 54.99% of the shares, totaling 89,207,760 shares[162]. Employee and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 1,593,500 CNY (159.35 million CNY)[181]. - The company has established a comprehensive salary and performance evaluation system to link employee contributions with remuneration[190]. - The company emphasizes employee training and has developed systematic training plans to enhance staff capabilities[190]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[176]. - The company aims to enhance brand awareness and reputation, consolidating its leading position in the domestic wood flooring industry[93].