Rastar(SZ:300043)2014-03-27 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2013, representing a year-on-year increase of 15%[1]. - The average revenue per user (ARPU) for the company's online games reached RMB 150, indicating a 10% growth compared to the previous year[11]. - The company's operating revenue for 2013 was CNY 2,219,177,287, representing a 98.42% increase compared to CNY 1,118,434,208 in 2012[20]. - The company reported a net profit margin of 18% for 2013, up from 15% in the previous year, indicating improved operational efficiency[1]. - Net profit attributable to shareholders was CNY 134,256,009.21, a 25.17% increase from CNY 107,259,998.68 in 2012[20]. - The company achieved a net profit of RMB 108,959,844.14 for the fiscal year 2013, after deducting the statutory surplus reserve of RMB 10,895,984.41[106]. - The company’s total distributable profit for 2013, after accounting for previous distributions, is RMB 285,957,113.06[106]. Market Expansion and Strategy - The company plans to expand its market presence by launching three new mobile games in 2014, targeting a 20% increase in user acquisition[1]. - The company aims to achieve a revenue growth target of 25% for the fiscal year 2014, driven by new product launches and market expansion strategies[1]. - The company is exploring potential partnerships with international gaming firms to enhance its global market reach and product offerings[1]. - The company plans to continue expanding its market presence and product offerings, focusing on new technologies and strategic acquisitions[62]. - The company is actively exploring new business areas, including infant products, raw materials, and gaming, to sustain growth despite potential risks[28]. Research and Development - The company has invested RMB 200 million in research and development for new product lines, focusing on interactive entertainment technologies[1]. - Research and development expenses amounted to RMB 9,627.82 million, an increase of RMB 7,339.90 million compared to the previous year[37]. - R&D investment for 2013 amounted to ¥96,278,229.17, representing 4.34% of total revenue, an increase from 2.05% in 2012[51]. - The company has initiated mass production for several R&D projects, including advanced simulation car models and eco-friendly automated painting technology, which are expected to enhance product quality and production efficiency[49]. Acquisitions and Investments - The company has completed the acquisition of a controlling stake in a mobile game development studio, enhancing its portfolio and development capabilities[1]. - The company completed a major asset restructuring by acquiring Xinghui Tiantuo, facing integration risks post-transaction[24]. - The company has successfully completed the transformation of three production lines to produce HIPS products, increasing product variety[49]. - The company has acquired mobile game developers and obtained game adaptation rights for notable literary works, enhancing its operational and content capabilities[95]. Financial Position and Assets - The total assets of the company reached CNY 1,824,561,646, an 18.54% increase from CNY 1,539,235,314 in 2012[20]. - The company's cash flow from operating activities decreased by 51.96% to CNY 58,529,757.23 in 2013 from CNY 121,846,933.85 in 2012[20]. - The company's inventory levels for car models decreased by 18.72%, while raw materials inventory surged by 341.58%[42][43]. - The company’s accounts receivable increased by 79.78% due to the acquisition of Gu Guo Software and expanded production and sales scale[63]. Risk Management - The company is addressing foreign exchange risks by utilizing hedging tools to mitigate potential losses from currency fluctuations[29]. - The company faces risks from raw material price fluctuations, particularly for SM and plastic materials, which could impact profitability and operational costs[96]. - The company is implementing cost control measures, including production management and real-time monitoring of raw material prices, to mitigate the impact of price volatility[97]. Corporate Governance and Compliance - The company has established and strictly enforced an insider information management system to ensure compliance with regulations[110]. - The company has a profit distribution policy that emphasizes cash dividends, aiming to distribute at least 30% of the average distributable profit over the last three years[101]. - The company has not made any adjustments to its cash dividend policy during the reporting period[104]. - The company’s governance structure complies with the requirements of the "Corporate Governance Guidelines" and "Regulations on the Standardized Operation of Listed Companies"[176]. Shareholder Information - The total number of shares increased to 241,781,794, a 52.64% rise from 158,400,000 shares in 2012[20]. - The proposed profit distribution plan for 2013 includes a cash dividend of RMB 1.00 per 10 shares and a capital reserve increase of 10 shares for every 10 shares held, based on a total share capital of 282,772,364 shares[106]. - The largest shareholder, Chen Yansheng, holds 38.33% of the shares, totaling 92,664,000 shares, with a lock-up commitment[153]. Employee and Management Structure - The total number of employees as of December 31, 2013, is 2,252, with 64.83% having an education level below college[173]. - The company has a core technical team that did not experience any changes during the reporting period[172]. - The total remuneration paid to directors, supervisors, and senior management in 2013 amounted to 1.5178 million yuan[167]. - The company’s management team saw new appointments on August 20, 2013, including a new general manager and deputy general manager[171].