XD INVESTMENT(SZ:000900)2014-03-28 16:00Financial Performance - The company's operating revenue for 2013 was CNY 1,754,154,760.33, representing a 3.82% increase compared to CNY 1,689,609,937.52 in 2012[27]. - The net profit attributable to shareholders for 2013 was CNY 539,654,232.96, a decrease of 16.75% from CNY 648,216,774.93 in 2012[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 522,207,699.86, down 15.82% from CNY 620,368,906.52 in 2012[27]. - The net cash flow from operating activities for 2013 was CNY 1,069,637,879.51, an increase of 3.31% compared to CNY 1,035,415,749.20 in 2012[27]. - The total assets at the end of 2013 were CNY 16,090,948,790.17, a 37.04% increase from CNY 11,742,136,816.87 at the end of 2012[27]. - The net assets attributable to shareholders at the end of 2013 were CNY 6,079,411,348.30, an increase of 8.28% from CNY 5,614,550,208.34 at the end of 2012[27]. - The basic earnings per share for 2013 were CNY 0.69, down 16.87% from CNY 0.83 in 2012[27]. - The diluted earnings per share for 2013 were also CNY 0.69, reflecting the same decrease of 16.87% from CNY 0.83 in 2012[27]. - The weighted average return on equity for 2013 was 9.21%, a decrease from 9.99% in 2012[27]. Operating Costs and Expenses - Operating costs increased to CNY 680.69 million, a rise of 13.23% compared to the previous year[32]. - Research and development expenses rose by 72.15% to CNY 4.22 million, reflecting increased investment in environmental technology[32]. - The company’s management expenses increased by 45.61% to CNY 205.81 million, attributed to enhanced operational activities[32]. - The company’s financial expenses surged by 92.76% to CNY 105.14 million, primarily due to new interest expenses incurred during the period[32]. Investments and Financing - The company reported a significant increase in financing cash flow, amounting to CNY 3.28 billion, a change of -385.35% due to increased borrowings[33]. - The company’s investment cash flow showed a net outflow of CNY 3.87 billion, a 58.72% increase, mainly due to investments in infrastructure projects[33]. - The company invested 680 million yuan during the reporting period, a decrease of 44.9% compared to the previous year's investment of 1.234 billion yuan[68]. - The company’s long-term borrowings increased significantly to ¥4,823,800,000.00, up from ¥1,000,000.00 in 2012, marking a 29.97% increase in proportion to total assets[58]. Subsidiaries and Joint Ventures - The company’s subsidiary achieved revenue of CNY 177 million and a net profit of CNY 23.53 million in 2013[36]. - Modern Weibaote has become the most promising enterprise in Hunan's municipal solid waste treatment industry, providing a full industry chain service[65]. - A joint venture was formed with the Changning Municipal Government for solid waste disposal, with a registered capital of 58.82 million RMB, where the company holds a 51% stake[138]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1 per 10 shares and to increase capital by 3 shares for every 10 shares held[5]. - The cash dividend for 2013 represents 14.42% of the net profit attributable to shareholders in the consolidated financial statements, which was CNY 539,654,232.96[123]. - The company will distribute a cash dividend of CNY 1.00 per 10 shares (including tax) for the year 2013, totaling CNY 77,837,350.50[121][124]. - The company’s cash dividend policy is compliant with its articles of association and shareholder resolutions, ensuring the protection of minority shareholders' rights[117]. Corporate Governance and Compliance - The company has established a robust internal control system and governance structure in accordance with relevant laws and regulations[179]. - The company actively participated in training programs for directors and senior management to enhance their governance capabilities[182]. - The company strictly adheres to the requirements of the Company Law, Securities Law, and relevant regulations, ensuring effective governance and compliance[184]. - The audit committee ensured the orderly conduct of the 2013 annual report audit, collaborating effectively with external auditors[196]. Future Plans and Strategies - The company plans to expand its market presence by entering three new regions in 2014, targeting a revenue increase of 15% from these expansions[84]. - New product development initiatives are underway, with an investment of 300 million allocated for R&D in innovative technologies[82]. - The company is exploring potential mergers and acquisitions to enhance its service offerings, with a budget of 500 million earmarked for strategic acquisitions in the next fiscal year[84]. - The company aims to achieve a diversified strategy, targeting to have its non-main business revenue exceed its main business revenue for the first time[103]. Employee and Management Information - The company employed 2,498 staff members at the end of 2013, including 359 temporary employees, marking a significant increase from 2012[176]. - The company reported a total compensation of 484.9 million yuan for directors, supervisors, and senior management during the reporting period[172]. - The total remuneration for the chairman and CEO was 67.9 million yuan each, reflecting the company's performance-based compensation structure[172]. Risk Management - The company faces risks from national policy adjustments, which could directly impact its revenue from toll fees[96]. - The company plans to strengthen cost control and budget management to ensure that maintenance and administrative expenses remain within annual targets[104].