Delian Group(SZ:002666)2014-04-24 16:00Financial Performance - The company achieved operating revenue of CNY 1,630.29 million, a year-on-year increase of 22.16%[31]. - The net profit attributable to shareholders reached CNY 159.85 million, growing by 11.27% compared to the previous year[31]. - Total assets as of December 31, 2013, amounted to CNY 1,779.21 million, reflecting a 14.26% increase from the end of 2012[31]. - The net assets attributable to shareholders were CNY 1,501.23 million, an increase of 8.16% from the previous year[31]. - The basic earnings per share were CNY 0.50, reflecting a 4.17% increase from the previous year[31]. - The company reported a negative net cash flow from operating activities of CNY -45.38 million, a decline of 142.49% year-on-year[32]. - Operating cash inflow for 2013 was CNY 1,592,526,948.05, reflecting a year-on-year increase of 5.78%[46]. - The company reported a significant increase in asset impairment losses, totaling CNY 9,695,406.68, up 317.99% year-on-year[43]. - The company’s inventory of brake fluid increased by 74.87% year-on-year, indicating potential overproduction or reduced sales[37]. Dividend Distribution - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[6]. - The cash dividend distribution plan for 2013 is set at RMB 1.50 per 10 shares, totaling RMB 48,000,000, which represents 30.028% of the net profit attributable to shareholders[99]. - The cash dividend payout ratio for 2013 is 100% of the total profit distribution[99]. - The cumulative undistributed profits of the parent company as of December 31, 2013, amounted to RMB 65,476,692.48[96]. - The cash dividend for 2012 was RMB 76,800,000, which was 53.4% of the net profit for that year[99]. Business Operations - The company’s main business remains in automotive fine chemicals, and any decline in automobile sales due to government restrictions could negatively impact OEM and OES sales[13]. - The company operates subsidiaries in various cities, including Changchun, Shanghai, and Chengdu, focusing on automotive products[10]. - The company expanded its customer base, securing new projects with major clients such as FAW-Volkswagen and BYD, contributing to new profit growth points[35]. - The automotive industry in China showed robust growth, with over 20 million vehicles produced and sold in 2013, providing opportunities for the company[32]. - The company maintained a leading position in the industry by leveraging its inherent advantages in production scale and customer relationships[33]. Research and Development - The company increased its R&D investment to enhance the development of new technologies and products[33]. - The company invested in a 2,500 square meter R&D center in Changchun to enhance its technological capabilities and innovation[36]. - The company’s total R&D expenditure was CNY 21,097,500, which is 1.32% of total revenue and 0.14% of the latest audited net assets[44]. - The company is committed to continuous research and development of new products and technologies to enhance its market position[63]. Market Risks and Challenges - The company reported a significant concentration of sales customers, primarily among domestic "European and American" and "domestic" brand automakers, which poses a risk if demand decreases[13]. - The company faces potential cost increases if oil prices continue to rise in 2014, as its main raw materials are closely related to petroleum[13]. - The company has identified risks related to industry policies, particularly restrictions on vehicle purchases, which may impact low-margin business segments[88]. - The company has a significant exposure to raw material price fluctuations, particularly petroleum derivatives, and plans to utilize centralized purchasing and forward currency transactions to mitigate these risks[91]. Investment and Expansion - The company plans to invest in the new project to support the production system for its strategic partner, FAW-Volkswagen, which is establishing a factory with an annual output of 300,000 vehicles in Foshan[77]. - The company has engaged in various financial investments, including a total of ¥1,000,000 in entrusted financial products with a reported return of 10.85%[65]. - The company has also invested ¥5,000,000 in another financial product with a return of 114.68% during the reporting period[66]. - The company is focusing on expanding production lines and adjusting product series to improve sales scale and efficiency in 2014[73]. Corporate Governance - The company has established a strong management team with high loyalty and professionalism, contributing to its stable development[63]. - The company has engaged Guangdong Zhengzhong Zhujiang Accounting Firm for auditing services during the reporting period[20]. - The company has maintained a continuous relationship with its accounting firm for 5 years, with an audit fee of 1.2 million yuan[119]. - The company has implemented a performance evaluation and incentive system for senior management to align their interests with the long-term goals of the company[200]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the code 002666[15]. - The number of shareholders increased significantly, with a total of 21,291 shareholders reported at the end of the period[136]. - The major shareholders, Xu Tuanhua, Xu Qingfang, and Xu Xianda, collectively hold 64.19% of the company's shares[138]. - The company has not undergone any changes in its controlling shareholders during the reporting period[140]. Compliance and Legal Matters - The company has strictly adhered to its commitments made during the stock reform process[117]. - There were no significant legal disputes or media controversies reported during the period[105][106]. - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[180]. - The company has established an internal audit department to enhance risk control and ensure compliance with internal management systems[173].