MQR(SZ:002719)2014-04-22 16:00Financial Performance - The company's operating revenue for 2013 was CNY 387,649,480.79, a decrease of 3.85% compared to CNY 403,191,954.37 in 2012[21]. - The net profit attributable to shareholders for 2013 was CNY 57,752,438.23, down 3.89% from CNY 60,092,920.55 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 51,533,835.58, reflecting a decline of 12.14% from CNY 58,652,952.35 in 2012[21]. - The net cash flow from operating activities decreased significantly by 63.63% to CNY 25,462,578.02 from CNY 70,015,794.55 in 2012[21]. - The basic earnings per share for 2013 was CNY 0.74, a decrease of 3.9% compared to CNY 0.77 in 2012[21]. - The total assets at the end of 2013 were CNY 483,462,737.66, an increase of 13.49% from CNY 425,995,488.39 at the end of 2012[21]. - The net assets attributable to shareholders increased by 21.8% to CNY 322,622,434.86 from CNY 264,869,996.63 in 2012[21]. - The weighted average return on equity for 2013 was 19.52%, down from 25.59% in 2012, indicating a decrease of 6.07%[21]. Revenue and Sales - Revenue from dairy products was 245.56 million yuan, accounting for 63.35% of total revenue[30]. - The sales volume of dairy products decreased by 7.61% to 30,630.94 tons in 2013[30]. - The company experienced a 20.55% decrease in revenue from holiday foods, totaling CNY 71,029,520.00[40]. - The cost of goods sold in 2013 was 235.25 million yuan, a decrease of 4.85% compared to 2012[32]. Expenses and Costs - The company’s total expenses for the period were 86.13 million yuan, an increase of 1.31% from 2012[29]. - The gross profit margin for dairy products was 29.06%, with a slight decrease of 0.02% compared to the previous year[39]. - The total operating costs amounted to CNY 330,311,640.14, down 2.9% from CNY 337,562,947.96 in the prior year[149]. Cash Flow and Financial Position - The total amount of cash and cash equivalents increased by CNY 15,481,421.88, a decrease of 67.71% compared to the previous year[38]. - The cash flow from financing activities showed a net outflow of CNY 2,329,842.43, a decrease of 80.81% compared to the previous year[39]. - The total cash inflow from financing activities decreased to CNY 69,040,000.00 from CNY 72,094,807.12 in the previous period, a decline of about 4.3%[158]. - The company reported a cash balance of ¥146,198,593.29 at the end of the period, an increase from ¥122,590,472.23 at the beginning of the period, reflecting a growth of approximately 19.2%[142]. Strategic Plans and Development - The company plans to optimize its development strategy and budget management to mitigate adverse factors[28]. - The company plans to expand the "Maiquier" brand influence and enhance brand recognition in both existing and new markets[51]. - The company aims to maintain its leading position in the sterilized milk market in Xinjiang and expand its market share[53]. - The company intends to establish a new type of milk source base to ensure high-quality milk supply and improve cost control[54]. - The company will increase the number of chain stores in existing markets to enhance market share and develop new marketing strategies for new markets[54]. - The company plans to focus on expanding its market presence and investing in new product development to drive future growth[154]. Corporate Governance and Compliance - The company has a clear and transparent cash dividend policy, with independent directors fulfilling their responsibilities effectively[60]. - The company has implemented a standardized product design and development process, enhancing its product differentiation capabilities[47]. - The company emphasizes the importance of independent directors in its governance structure to ensure transparency and accountability[95]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and senior management[109]. Shareholder Information and Dividends - The company plans to distribute a cash dividend of CNY 1.19 per 10 shares to shareholders[5]. - The profit distribution policy includes a minimum of 20% of the distributable profits to be allocated as cash dividends annually, ensuring reasonable returns to investors[58]. - The company distributed a cash dividend of 1.19 CNY per 10 shares, totaling 10,900,400 CNY, which represents 18.87% of the net profit attributable to shareholders in 2013[62]. - The company did not distribute any profits for the years 2012 and 2011, maintaining a cash dividend policy that aligns with its articles of association[62]. Risks and Challenges - The company faces risks including fluctuations in macroeconomic conditions and rising costs of raw materials and labor[12]. - The company faced challenges in 2013 due to tight milk supply and rising costs in the baking chain industry[27]. Employee and Management Structure - The company employed a total of 723 employees as of December 31, 2013, an increase from 717 employees in 2012[104]. - The employee structure includes 32.50% production personnel, 25.86% sales personnel, and 14.38% management personnel[105]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.332 million[102]. Internal Control and Audit - The company has developed a robust internal control system in compliance with relevant laws and regulations, including governance and management rules[129]. - The audit report issued by Ruihua Certified Public Accountants provided a standard unqualified opinion on the financial statements, affirming their fair presentation[137]. - No significant internal control deficiencies were reported during the evaluation period, indicating a robust internal control environment[134]. Financial Reporting and Accounting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[179]. - The financial statements reflect the company's financial position as of December 31, 2013, and comply with disclosure requirements[180]. - The primary currency for accounting is RMB, reflecting the economic environment in which the company operates[182].