APLUS(SZ:300163)2014-03-28 16:00Financial Performance - The company's operating revenue for 2013 was CNY 221,642,689.42, an increase of 8.95% compared to CNY 203,441,104.31 in 2012[17] - Operating profit decreased by 14.79% to CNY 22,283,241.43 in 2013 from CNY 26,149,744.19 in 2012[17] - The net profit attributable to shareholders was CNY 21,884,596.41, down 16.59% from CNY 26,236,323.86 in the previous year[17] - The total profit for 2013 was CNY 26.31 million, a decrease of 17.03% compared to the previous year[25] - Net profit for the year was CNY 21.88 million, down 16.59% year-on-year, primarily due to foreign trade revenue being impacted by the appreciation of the RMB against the USD[25] - Basic earnings per share decreased by 15.15% to CNY 0.28 in 2013 from CNY 0.33 in 2012[17] - The weighted average return on equity was 3.34% in 2013, down from 4.09% in 2012[17] Assets and Liabilities - The company's total assets increased by 4.66% to CNY 695,722,906.15 at the end of 2013, compared to CNY 664,717,537.36 at the end of 2012[17] - The total liabilities surged by 87.73% to CNY 38,112,469.06 in 2013 from CNY 20,301,696.68 in 2012[17] - The company's asset-liability ratio increased to 5.48% in 2013 from 3.05% in 2012[18] - The company's cash and cash equivalents decreased from CNY 103,092,917.84 to CNY 58,175,651.29, a reduction of 7.15% in total assets[49] Cash Flow - The net cash flow from operating activities increased significantly by 232.49% to CNY 55,433,806.47 in 2013, compared to CNY 16,672,463.75 in 2012[17] - The net cash flow from investment activities rose by 38.48% year-on-year, mainly due to a decrease in project investment amounts this year[42] - Financing cash inflow decreased by 100% year-on-year, as no borrowing occurred this year[42] - The net cash flow from financing activities increased by 66.17% year-on-year, primarily due to a decrease in annual cash dividend distribution[42] Production and Sales - The company’s internal and external sales systems achieved growth in both production and sales volumes, reaching a total revenue scale of CNY 220 million[27] - The production system completed the production of 8.25 million square meters of fabric, effectively meeting sales demand[29] - The sales volume of sunlight fabric increased by 29.58% to 9.93 million square meters, while production volume rose by 23.57% to 10.19 million square meters[36] Research and Development - Research and development expenses amounted to CNY 8.40 million, representing 4.13% of operating revenue, with a focus on product application and design[40] - The company has made continuous improvements in technology innovation and product extension, enhancing its competitive advantages in the market[53] - The company will maintain a high level of R&D investment in the shading field, with expectations for a number of patents to be authorized or newly applied in the external shading product area[83] Market and Customer Engagement - The company expanded its overseas customer base, leading to increased demand for skilled sales personnel familiar with different regional markets[21] - The company participated in international exhibitions in Paris, Beijing, and Shanghai to promote new products and enhance customer engagement[28] - The company aims to provide a full set of solutions for green building shading modules in the domestic market, enhancing customer experience and achieving synchronized economic and social benefits[81] Governance and Compliance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, complying with relevant regulations[139] - The company has implemented a major error accountability system for annual report disclosures, enhancing the quality and transparency of financial reporting[152] - The independent directors confirmed their responsibilities were fulfilled, ensuring the protection of minority shareholders' rights during the profit distribution process[89] Shareholder Information - The total number of shares before the change was 79,000,000, with 52.69% being restricted shares and 47.31% being unrestricted shares[113] - The largest shareholder, Lu Xianfeng, holds 45.87% of the shares, totaling 36,240,088 shares, with 23,000,000 shares pledged[119] - The company has a total of 41,628,838 restricted shares, with no new restricted shares added during the reporting period[116] Profit Distribution - The cash dividend for the fiscal year was set at 1.00 RMB per 10 shares, totaling 7,900,000 RMB, which represents 100% of the total profit distribution[90] - The proposed 2013 profit distribution plan includes a cash dividend of RMB 1 per 10 shares, totaling RMB 7.9 million, and a capital reserve conversion of 79 million shares[92] - The company has maintained a cash dividend policy that prioritizes cash distribution, especially during the growth phase with significant capital expenditures[90] Subsidiaries and Investments - The total assets of the subsidiary Zhejiang Saintai reached CNY 340.025 million, with a net profit of CNY 9.363 million, reflecting a decrease in revenue by 9.42% and a net profit decline of 27.63% year-on-year[76] - The subsidiary Jiaxing Fengtai achieved a net profit increase of 89.84% year-on-year, transitioning from a loss to a break-even point due to expanded capacity[76] - The company acquired 19,299,547 shares of Kresta Holdings Limited at AUD 0.23 per share, totaling AUD 4,452,212.50, to strengthen strategic investments in related industries[73] Future Plans and Challenges - The company plans to address a funding gap for its "3 million square meters integrated energy-saving window" project amid tight domestic credit conditions[21] - The company is facing lower-than-expected benefits from projects due to market influences and cost changes[69] - The shading energy-saving industry is transitioning to intelligent control systems, with expectations for rapid growth in market demand as urbanization and consumption upgrade continue[78]