ANKAI(SZ:000868)2014-10-24 16:00Financial Performance - The company's operating revenue for 2013 was ¥3,539,046,825.57, a decrease of 7.87% compared to ¥3,841,363,538.42 in 2012[20] - The net profit attributable to shareholders was a loss of ¥34,727,957.14, representing a decline of 136.5% from a profit of ¥95,155,202.38 in the previous year[20] - The net cash flow from operating activities was negative at ¥145,282,126.54, down 134.36% from ¥422,859,845.66 in 2012[20] - The basic earnings per share were -¥0.05, a decrease of 135.71% from ¥0.14 in 2012[20] - The company reported a significant increase in non-recurring losses, with a net profit excluding non-recurring items at -¥128,611,920.75, a decline of 409.13% from ¥41,603,820.93 in 2012[20] - The weighted average return on net assets was -2.77%, down 10.11% from 7.34% in the previous year[20] - The company reported a net profit of -¥34,727,957.14 in 2013, with no cash dividend distribution plan proposed despite positive retained earnings[74] - The company reported a net loss of CNY 39,281,844.90, compared to a net profit of CNY 99,011,288.14 in the previous year, marking a significant decline[183] - The net profit for the period was -39,281,840.00 CNY, a significant decline compared to the previous year's profit[198] Assets and Liabilities - Total assets at the end of 2013 were ¥4,437,198,253.97, an increase of 6.93% from ¥4,149,703,529.18 in 2012[20] - The total assets at the end of the period were CNY 3,284,074,278.06, an increase from CNY 3,193,562,194.47 at the beginning of the year[180] - The company's total liabilities increased to RMB 3,173,182,668.42 from RMB 2,767,166,166.85, representing a rise of about 14.7%[177] - Current liabilities totaled CNY 2,023,430,220.24, up from CNY 1,672,026,577.49, indicating a rise in short-term financial obligations[180] - The total equity attributable to shareholders decreased to RMB 1,213,093,877.82 from RMB 1,323,012,157.99, reflecting a decline of approximately 8.3%[177] - The total equity decreased to CNY 1,205,485,289.45 from CNY 1,304,291,669.38, indicating a reduction in shareholder value[181] Revenue and Sales - In 2013, the company sold 10,449 buses, a decrease of 13.06% compared to 2012, and achieved a sales revenue of CNY 3.54 billion, down 7.87% year-on-year[27] - The company’s main business revenue decreased by 7.8% to CNY 3.53 billion, while other business revenue fell by 24.32% to CNY 11.59 million[33] - The revenue from operating vehicles was CNY 3.15 billion, reflecting a year-on-year decline of 13.02%[46] Cash Flow - The net cash flow from operating activities decreased by 134.36% to -CNY 145.28 million, compared to CNY 422.86 million in the previous year[43] - The total cash inflow from investment activities decreased by 37% to CNY 30.70 million compared to the previous year[44] - The cash and cash equivalents net decrease was CNY 544.26 million, a decline of 272.01% compared to the previous year[44] - The total cash and cash equivalents at the end of the period were 1,246,210,290.84 CNY, down from 1,790,472,980.42 CNY at the beginning of the period[190] Inventory and Receivables - The company’s inventory increased by 79% to 460 units, primarily due to unshipped production of new energy vehicles[34] - Accounts receivable increased to ¥820,516,576.9, accounting for 18.49% of total assets, up by 4.46% from ¥582,406,259.84 (14.03%) in 2012[49] - Inventory rose to ¥462,007,911.1, making up 10.41% of total assets, an increase of 2.93% from ¥310,276,318.65 (7.48%) in 2012[49] Research and Development - The total R&D expenditure for 2013 was CNY 123.77 million, accounting for 9.8% of the audited net assets and 3.5% of operating revenue[41] - The company developed 62 new products and 12 new technologies, with a total of 154 patent applications filed, including 33 invention patents[29] Market Strategy and Future Plans - The company plans to enhance marketing capabilities and expand into new markets, particularly focusing on public transport and new energy buses[66] - The company aims to sell 13,000 buses and achieve sales revenue exceeding 6 billion RMB in 2014[65] - The expected growth rate for the large and medium-sized bus market in 2014 is projected to be around 3%-5%[64] - The company plans to focus on new product development and market expansion strategies to improve future performance[1] Corporate Governance - The company has established a strict governance structure with effective operation of the board and its committees, ensuring independence from major shareholders[143] - The company has maintained independence from its major shareholders in terms of operations, personnel, assets, and finances[154] - The company has a structured remuneration decision-making process involving a compensation and assessment committee[133] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,280, compared to 58,875 five trading days before the annual report disclosure[115] - Anhui Jianghuai Automobile Group Co., Ltd. holds 20.73% of shares, while Anhui Investment Group Co., Ltd. holds 18.53%[115] Audit and Compliance - The auditing firm Tianzhi International CPA issued a standard unqualified audit report for the company's 2013 financial statements[101] - The company reported no significant accounting errors or omissions during the reporting period, ensuring the quality of annual report disclosures[166] - The audit report issued by Tianzhi International Accounting Firm confirmed that the financial statements fairly represent the company's financial position and results of operations[172]