TLGD(SZ:300029)2014-04-24 16:00Financial Performance - The company's operating revenue for 2013 was CNY 220,574,963.97, representing a 25.3% increase compared to CNY 176,032,036.29 in 2012[20]. - The operating cost decreased by 8.42% to CNY 180,830,639.29 from CNY 197,456,334.75 in the previous year[20]. - The net profit attributable to shareholders was CNY -130,059,071.66, a 74.56% improvement from CNY -511,327,236.17 in 2012[20]. - The company's total revenue for the industrial sector reached ¥161,622,066.96, reflecting a year-on-year increase of 10.69%[51]. - The company reported a total revenue of 61,029.0 million CNY for the year, a decrease of 4,647.7 million CNY compared to the previous year, reflecting a decline of approximately 7.1%[65]. - The actual net profit after tax for the annual production of 1,200 single crystal silicon growth furnaces was -27,327.7 million CNY, significantly below the expected profit of 51,651.0 million CNY due to poor market conditions in the photovoltaic industry[65]. - The projected annual net profit for the production of 150 multi-crystalline silicon ingot furnaces was 43,059.0 million CNY, but the actual profit was -33,114.5 million CNY, indicating a shortfall of approximately 76.9%[65]. - The company reported a net loss of -130,059,071.66 CNY for 2013, continuing a trend of losses from the previous year[78]. - The company reported a significant increase in prepayments from CNY 23,996,494.20 to CNY 56,762,720.32, an increase of about 136.5%[169]. - The net loss for the year was CNY 147,888,141.60, an improvement compared to a net loss of CNY 576,028,555.68 in the previous year, indicating a reduction in losses by approximately 74.3%[178]. Assets and Liabilities - The total assets decreased by 18.08% to CNY 1,080,825,006.71 from CNY 1,319,440,414.96 at the end of 2012[20]. - The total liabilities also decreased by 18.55% to CNY 406,889,793.33 from CNY 499,581,103.11 in the previous year[20]. - The asset-liability ratio was 37.65%, slightly down from 37.86% in the previous year[20]. - The company's total equity decreased from CNY 819,859,311.85 to CNY 673,935,213.38, a decline of approximately 17.8%[171]. - The company's capital reserve increased from CNY 831,451,196.12 to CNY 851,834,055.65, an increase of about 2.9%[171]. - The company's accounts receivable decreased to ¥163,725,956, representing 15.15% of total assets, down by 4.55%[55]. - The company's cash and cash equivalents decreased from CNY 164,926,679.53 to CNY 40,633,406.57, a decline of about 75.4%[169]. Cash Flow - The company's cash flow from operating activities was CNY -137,928,841.10, showing a 21.71% improvement from CNY -176,183,276.48 in 2012[20]. - Operating cash inflow decreased by 53.5% to CNY 118,293,273.48, while operating cash outflow decreased by 40.5% to CNY 256,222,114.58[42]. - The company reported a net cash flow from operating activities of -CNY 137,928,841.10, an improvement of 21.71% compared to the previous year[42]. - The cash and cash equivalents at the end of the period were CNY 35,197,220.28, down from CNY 145,665,429.73 at the beginning of the year[185]. - The total cash inflow from operating activities was significantly impacted by a 55.1% decrease in cash received from sales, which fell to $48,001,273.39 from $106,329,042.94[187]. Inventory and Production - The company sold 15 photovoltaic devices in 2013, a decrease of 46.43% from 28 units in 2012, while the production volume dropped by 31.63% to 134 units[36]. - The sales volume of graphite thermal fields increased by 105.8% to 461 sets in 2013, with production rising by 50.29% to 523 sets[36]. - The company reported a significant increase in inventory levels, with photovoltaic device inventory rising by 53.6% to 341 units and crucible inventory increasing by 172.25% to 942 units[36]. - The company's inventory increased to ¥353,272,139.9, representing 32.69% of total assets, up from 26.06% the previous year[55]. Research and Development - Research and development investment amounted to CNY 28,750,403.18, representing 8.59% of operating revenue, a significant decrease from 35.53% in 2012[40]. - The company launched new products, including the next-generation single crystal furnace models DRF-110 and DRZF-1200, and made significant progress in sapphire technology[32]. - The company has filed for 7 new patents during the reporting period, including 1 invention patent and 6 utility model patents, all developed independently[59]. Management and Governance - The company has a diverse management team with extensive experience in various industries, including mechanical, photovoltaic, and finance, which enhances its operational capabilities[128][129][130]. - The company strictly adheres to corporate governance regulations, continuously improving its governance structure and internal management systems[145]. - The board of directors consists of 10 members, including 4 independent directors, complying with relevant laws and regulations[148]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to CNY 2.139 million[137]. Market Conditions and Risks - The company faced risks including policy changes, market competition, and accounts receivable collection challenges due to industry consolidation[27]. - The photovoltaic industry has experienced a significant decline in market conditions since the second half of 2011, affecting the company's sales and investment strategies[67]. - The company acknowledges risks related to policy changes, market competition, accounts receivable, and inventory management[73]. Shareholder Information - The company reported a total of 200,000,000 shares outstanding, with 87.2% being unrestricted shares and 12.8% being restricted shares[114]. - The number of shareholders at the end of the reporting period was 20,610, a decrease from 22,581 prior to the report[119]. - The largest shareholder, Changzhou Noah Technology Co., Ltd., holds 20.05% of the shares, amounting to 40,092,440 shares, with a decrease of 6,119,240 shares during the reporting period[119]. Compliance and Legal Matters - The company strictly adhered to the "Insider Information and Insider Management System" during the reporting period, with no insider trading incidents reported[85]. - There were no major litigation or arbitration matters during the reporting period[89]. - The company maintained compliance with relevant laws and regulations regarding insider information management, with no leaks reported[85].