Shouhang High-Tech(SZ:002665)2014-03-27 16:00Financial Performance - The company's operating revenue for 2013 was ¥975,650,646.27, a decrease of 18.23% compared to ¥1,193,145,887.89 in 2012[39]. - The net profit attributable to shareholders for 2013 was ¥159,549,139.50, down 9.45% from ¥176,202,712.10 in 2012[39]. - The basic earnings per share for the reporting period is CNY 0.60, down from CNY 1.41 in 2012, while the diluted earnings per share was adjusted to CNY 0.70 from CNY 1.41[157]. - The net asset value per share for the reporting period is CNY 6.80, compared to CNY 12.68 in the same period last year, indicating a significant decrease[157]. - The company reported a cash dividend of 1.07 RMB per 10 shares for the year ending December 31, 2013, with no bonus shares issued[5]. - The company reported a cash dividend of RMB 2.97 per 10 shares, alongside a capital reserve conversion of 10 shares for every 10 shares held[155]. Assets and Liabilities - Accounts receivable increased significantly, reaching 1,143.76 million RMB by the end of 2013, accounting for 44.41% of total assets[13]. - The company's total assets increased by 11.95% to ¥2,575,266,880.38 at the end of 2013, compared to ¥2,300,286,497.28 at the end of 2012[39]. - The inventory level rose to CNY 304,531,138.00, representing 11.83% of total assets[58]. - The company’s accounts receivable increased to CNY 1,143,760,499.30, accounting for 44.41% of total assets, up from 30.22% in 2012[58]. Cash Flow - The net cash flow from operating activities improved by 42.81%, reaching -¥108,804,956.51 in 2013 compared to -¥190,262,056.19 in 2012[40]. - Cash inflow from operating activities increased by 75.21% to CNY 814,465,456.63, while cash outflow increased by 40.93% to CNY 923,270,413.14[53]. Business Development and Strategy - The company anticipates stable growth in performance over the next two years based on existing orders and planned delivery schedules[16]. - The company secured new orders totaling ¥1.9 billion in 2013, with a year-end backlog of ¥2.6 billion[38]. - The company plans to integrate solar thermal and desalination technologies to offer lower-cost desalination solutions[42]. - The company aims to expand its business scope and enhance core competitiveness through the establishment of new subsidiaries, which is expected to improve overall performance[83]. - The company is focusing on the solar thermal power sector, with expectations for policy support to drive growth in the industry, aiming to become a leading player in China[89]. - The company plans to explore multiple channels and methods for business development in the seawater desalination market, aiming for breakthroughs in project orders[88]. Research and Development - Research and development expenses decreased by 27.59% to ¥35,733,785.90 in 2013 from ¥49,352,450.27 in 2012[40]. - The company holds 12 national patents as of the end of the reporting period, reflecting its commitment to innovation[59]. - The company has developed key technologies for solar thermal power, including a 1MWt trough demonstration system and 10MWe tower technology, to ensure profitability at lower price levels[89]. - The company’s technology center has been recognized as a municipal enterprise technology center, indicating a robust innovation system[60]. Market Position and Competition - The company has established a strong market position in the power station air cooling market and is expanding into solar thermal power, seawater desalination, and digital design[62]. - The company has achieved a significant market position in the power station air cooling sector, leveraging its technology and innovation to maintain a competitive edge[87]. - The company is committed to providing high-quality, cost-effective products and services in the energy-saving and environmental protection sector[86]. Corporate Governance and Compliance - The company has committed to enhancing corporate governance and management structures to support rapid growth and reduce operational risks[93]. - There were no violations or penalties reported against the company or its major shareholders during the reporting period, indicating compliance with regulations[145]. - The company has not engaged in any bankruptcy reorganization activities[115]. Human Resources and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 2.89 million yuan[189]. - As of the end of 2013, the total number of employees in the company was 996, with 819 in the headquarters and 177 in subsidiaries[194]. - The educational background of employees shows that 30% hold a bachelor's degree or above, indicating a relatively high level of knowledge and management skills[194]. - The company employs a performance-based salary system for management and technical personnel, while production workers are compensated based on piecework or hourly rates[198]. Acquisitions and Investments - The company completed a merger and acquisition, expanding its business into the field of waste heat power generation from gas compressor stations, which is expected to enhance profitability due to lower resource acquisition costs and stable revenue streams[61]. - The company has a 100% stake in Dunhuang Shihang Energy New Energy Co., Ltd., which specializes in solar thermal power generation[64]. - The company plans to fully acquire Xinjiang Xituo Energy Co., which is the first domestic enterprise operating heat recovery power generation using contract energy management, enhancing its core competitiveness and profitability[91]. Social Responsibility - The company has made social contributions, donating RMB 2.22 million during the reporting period[104].