LTH(SZ:000912)2014-04-29 16:00Financial Performance - The company's operating revenue for 2013 was CNY 4,070,809,046.64, a decrease of 2.33% compared to CNY 4,167,930,031.63 in 2012[21]. - The net profit attributable to shareholders for 2013 was a loss of CNY 297,512,362.76, representing a significant decline of 1,977.08% from a profit of CNY 15,849,779.68 in 2012[21]. - The basic earnings per share for 2013 were CNY -0.5086, a decline of 1,976.75% from CNY 0.0271 in 2012[21]. - The weighted average return on equity was -14.13% in 2013, a decrease of 14.82 percentage points from 0.69% in 2012[21]. - The company reported a net loss of CNY 366,516,938.90, compared to a net profit of CNY 79,476,280.70 in the previous year[200]. - The gross profit margin decreased significantly, leading to an operating profit of CNY -401,987,661.33, down from CNY 108,122,737.55 in the previous year[200]. Cash Flow and Assets - The net cash flow from operating activities improved to CNY 245,045,798.13 in 2013, compared to a negative cash flow of CNY -556,460,404.15 in 2012, marking a 144.04% change[21]. - The total assets at the end of 2013 were CNY 13,356,840,579.24, an increase of 1.90% from CNY 13,107,819,317.72 at the end of 2012[21]. - The net increase in cash and cash equivalents was CNY 223,365,964.15, a significant improvement of 388.73% compared to the previous year[41]. - The company's cash and cash equivalents decreased to CNY 1,512,382,199.64 from CNY 1,769,724,511.45, reflecting a decline of approximately 14.5%[191]. - The company's total liabilities amounted to CNY 10,703,803,006.08, up from CNY 10,050,244,559.57 at the start of the year, indicating a growth in financial obligations[193]. Operational Highlights - Operating costs increased to CNY 3,548.08 million, up 3.38% from the previous year, primarily due to rising raw material prices and increased production volume[28]. - The sales volume of fertilizer products increased by 10.78% to 1,438,189.29 tons, while the sales volume of chemical products decreased by 13.19% to 536,470.63 tons[31]. - The company’s major project, the PTMEG project, was successfully completed and put into production during the reporting period[27]. - The total revenue from chemical products reached CNY 608,917,187.75, representing a year-on-year increase of 8.95%[36]. Challenges and Future Outlook - The company anticipates facing challenges in 2014, as outlined in the future development strategy section of the board report[12]. - The company faces challenges such as rising raw material prices, a sluggish product market, and overcapacity in 2014[72]. - The company aims to achieve "turning losses into profits" through strategies focused on "production refinement, service integration, market-oriented operations, and standardized governance" in 2014[71]. Governance and Compliance - The company has committed to improving internal controls and governance structures to ensure compliance with relevant laws and regulations following the reprimand[104]. - The company has established a comprehensive internal control system, with all major units and businesses included in the evaluation, representing 100% of total assets and revenue in the consolidated financial statements[172]. - The company has maintained compliance with the insider information registration system, preventing any insider trading violations during the reporting period[144]. Shareholder and Investment Information - The company did not distribute any cash dividends or bonus shares for the year 2013[5]. - The company has not distributed any cash dividends in the last three years due to financial pressures and previous losses, with the last reported profit distribution being in 2011[86]. - The company has a total share capital of 585,000,000 shares, with 54.33% being restricted shares and 45.67% being unrestricted shares[108].