CCHT(SZ:000661)2014-05-21 16:00Financial Performance - The company's operating revenue for 2013 was CNY 2,048,692,281.20, representing a 16.32% increase compared to CNY 1,761,187,218.32 in 2012[21]. - The net profit attributable to shareholders of the listed company decreased by 5.3% to CNY 283,898,219.07 from CNY 299,797,507.39 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 301,900,801.45, an increase of 1.65% from CNY 297,011,503.53 in 2012[21]. - The net cash flow from operating activities increased by 22.22% to CNY 498,580,431.52 from CNY 407,944,688.78 in the previous year[21]. - The total assets at the end of 2013 were CNY 2,804,640,231.32, a 21.18% increase from CNY 2,314,377,949.94 at the end of 2012[21]. - The net assets attributable to shareholders of the listed company increased by 28.35% to CNY 1,192,748,855.35 from CNY 929,259,008.42 in 2012[21]. - The basic earnings per share for 2013 were CNY 2.16, down 5.26% from CNY 2.28 in the previous year[21]. - The weighted average return on equity decreased to 26.5% from 38.47% in 2012, a decline of 11.97%[21]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 4.00 per 10 shares to all shareholders[4]. - The total cash dividend for 2013 is CNY 52,530,628, which is 100% of the distributable profit of CNY 142,226,414.81[81]. - The cash dividend per 10 shares is CNY 4.00 (including tax), with a total share base of 131,326,570 shares[81]. - The net profit attributable to shareholders in 2013 was CNY 283,898,219.07, with a cash dividend payout ratio of 18.5%[81]. - The company did not propose any cash dividend distribution plan for the period despite having positive retained earnings[81]. Research and Development - Research and development expenses for 2013 amounted to CNY 97.72 million, representing 4.78% of operating revenue and a 12.18% increase from CNY 87.11 million in 2012[32][40]. - The company plans to enhance its R&D investment, aiming for a higher proportion of R&D expenses relative to sales, approaching international advanced levels[74]. - The company is focusing on the biopharmaceutical sector, with ongoing new drug development projects already initiated[73]. - The upcoming new drug registration management measures are expected to accelerate the development of innovative products, maintaining the company's technological lead[72]. Operational Efficiency - The company's operating costs rose to CNY 384.55 million in 2013, up 20.96% from CNY 317.90 million in 2012[32]. - The cash flow from operating activities increased by 18.8% to CNY 2,289.18 million, while cash outflows rose by 17.88% to CNY 1,790.60 million[41]. - The company reported a total of CNY 44.88 million in purchases from the top five suppliers, which represented 21.76% of the total annual purchases[38]. - The company’s financial expenses for the reporting period were CNY 4.22 million, with a significant increase in income tax expenses by 30.96% to CNY 97.02 million due to increased profit[39]. Asset Management - The company’s cash and cash equivalents increased to ¥607,634,429.64, representing 21.67% of total assets, up from 19.03% the previous year[45]. - The company’s inventory decreased slightly to ¥443,538,411.27, representing 15.81% of total assets, down from 18.72% the previous year[45]. - The company’s total assets showed a stable financial structure, with a low debt-to-asset ratio supporting ongoing projects[50]. - The company’s total liabilities increased to CNY 1,101,017,511.56 from CNY 1,010,518,549.56, reflecting a rise of about 8.9%[172]. Corporate Governance - The company has established a comprehensive internal control system to protect the interests of shareholders, especially minority shareholders[82]. - The company emphasizes compliance with laws and regulations while fulfilling its social responsibilities and maintaining a good corporate image[82]. - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, ensuring a high level of corporate governance[137]. - The audit committee reviewed the 2013 annual financial report and confirmed that it accurately reflects the company's overall situation, leading to a standard unqualified audit opinion[143]. Market Position and Strategy - The domestic pharmaceutical industry is expected to grow significantly, with the health service industry projected to reach CNY 8 trillion by 2020, compared to CNY 216.82 billion in 2013[71]. - The company aims to adapt to market changes in the real estate sector, facing challenges due to insufficient land reserves and stricter market regulations[77]. - The company will continue to pursue an industry strategy centered on pharmaceuticals while exploring innovative marketing models[75]. - The company has established good relationships with financial institutions to secure funding for ongoing and new projects, aiming to reduce financing costs[76]. Shareholder Information - The total number of shares remained unchanged at 131,326,570, with 100% being unrestricted shares[119]. - The largest shareholder, Changchun Gaoxin Chaoda Investment Co., Ltd., holds 21.67% of the shares, totaling 28,459,851 shares[122]. - The number of shareholders increased from 12,406 to 13,121 during the reporting period[121]. - The company’s major shareholder, Zhang Guorong, holds 2.01% of the shares, totaling 2,641,063 shares[122]. Human Resources - The company employed a total of 3,474 staff members at the end of the reporting period, with only 2 retirees to bear costs[134]. - The company emphasizes a salary growth mechanism linked to corporate performance to enhance employee motivation and stability[135]. - The company has established a multi-dimensional training program to enhance employee skills and overall quality[135]. - The company’s board includes independent directors and a diverse management team with various industry experiences[130].