TRE(SZ:300332)2014-04-24 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2013, representing a year-on-year increase of 15%[17] - The net profit attributable to shareholders was 150 million RMB, which is a 10% increase compared to the previous year[17] - The company achieved a gross margin of 35%, maintaining a stable performance in cost management[17] - Operating profit for 2013 was CNY 96.81 million, up 29.94% compared to the previous year[18] - Net profit attributable to shareholders reached CNY 116.04 million, reflecting a growth of 28.22% year-on-year[18] - The company reported a total of ¥288,581,096.70 in revenue from contract energy management, with a gross profit of ¥167,411,204.63, indicating strong performance in this segment[48] - The company reported a net profit of 116,044,966.44 CNY, contributing to the overall equity increase despite other losses[193] - The net profit for the period was CNY 112,628,018.69, up from CNY 90,242,527.20, reflecting a growth of 24.9%[182] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next three years[17] - The company plans to continue expanding into the environmental protection and new energy sectors while maintaining its leading position in the waste heat power generation business[23] - The company is actively entering the environmental protection industry through joint ventures and partnerships, establishing Beijing Tianhao Environmental Technology Co., Ltd. in April 2014[28] - The company aims to become one of the most influential energy-saving service providers in China by 2015, focusing on expanding its market share in various industries including coal chemical, steel, and metallurgy[46] - The company is exploring market expansion opportunities to increase its footprint in the energy-saving technology sector[134] Research and Development - Research and development expenses accounted for 8% of total revenue, reflecting the company's commitment to innovation[17] - The company has invested in research and development, acquiring one invention patent and four utility model patents in 2013, bringing the total to three invention patents and 18 utility model patents[31] - The company is actively pursuing multiple R&D projects, including innovative applications in waste heat utilization and low-concentration gas power generation[39] - The company is focused on energy-saving technologies, with ongoing research and development efforts to enhance product offerings[133] Financial Management - The company's cash flow from operating activities decreased by 26.83% to CNY 28.93 million[18] - The total assets of the company increased by 7.26% to CNY 1.66 billion by the end of 2013[18] - The company’s total liabilities decreased by 1.03% to CNY 376.22 million[18] - The weighted average return on equity was 9.49%, down from 11.12% in the previous year[18] - The company reported a significant increase in inventory from CNY 5,802,388.32 to CNY 38,124,254.26, which is an increase of approximately 558.5%[174] - The total liabilities and owner's equity at the end of the period reached 1,165,284,000.00 CNY, indicating a stable financial position[197] Operational Performance - User data indicated a growth in customer base by 20%, reaching a total of 500,000 users by the end of 2013[17] - The core business of contract energy management accounted for 88.67% of total revenue in 2013[26] - The company experienced stable operations in its waste heat power generation projects despite economic slowdowns and industry fluctuations[27] - The company has a total of 11 operational waste heat power generation projects, with installed capacities ranging from 4.5 MW to 25 MW[29] Shareholder and Governance - In 2013, the company distributed cash dividends of 0.8 yuan per 10 shares, totaling 25,600,000 yuan, which accounted for 22.06% of the net profit attributable to shareholders[76] - The cash dividend policy requires a minimum of 20% of the profit distribution to be allocated to cash dividends during the growth phase of the company[74] - The company has maintained a stable executive team with key positions held for over five years, ensuring continuity in leadership[128][129][130] - The company has established a performance evaluation and incentive mechanism linking management compensation to business performance[156] Acquisitions and Investments - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[17] - The company has terminated the acquisition of Xinjiang Xituo shares, originally planned for 12,800 million, due to high bidding prices[61] - The company has established several new subsidiaries, including Tianhao Yuanhua and Tianhao E'erduosi, with minimal impact on overall production and performance[71] - The company completed the acquisition of 60% equity in Henan Far East New Century Electromechanical Co., Ltd. for 3,800,000 yuan, with the business operating normally[87] Employee Structure and Remuneration - The company had a total of 1,114 employees as of December 31, 2013, with 36.62% being power plant operation personnel[149][150] - The total remuneration for directors, supervisors, and senior management in 2013 was CNY 3.1643 million[146] - The company’s chairman, Chen Zuotao, received a total remuneration of CNY 438,000 in 2013[147] - The total number of R&D personnel was 59, representing 5.30% of the total employee count[149][150] Compliance and Risk Management - The company has not reported any significant changes in accounting policies or prior period adjustments, ensuring consistency in financial reporting[196] - The company has not faced any administrative penalties during the reporting period[104] - The company has no major litigation or arbitration matters during the reporting period[86] - The company has not identified any risks during the supervisory activities of the supervisory board in the reporting period[164]