FUJIAN EXPRESSWAY(SH:600033)2014-04-11 16:00Financial Performance - The company's operating revenue for 2013 was CNY 2,625,118,114.54, representing an increase of 8.23% compared to CNY 2,425,428,245.10 in 2012[25]. - The net profit attributable to shareholders for 2013 was CNY 543,821,436.31, a 32.42% increase from CNY 410,691,634.58 in 2012[25]. - Basic earnings per share for 2013 were CNY 0.1982, up 32.49% from CNY 0.1496 in 2012[25]. - The weighted average return on equity increased to 7.40% in 2013, up from 5.77% in 2012, an increase of 1.63 percentage points[25]. - The net cash flow from operating activities for 2013 was CNY 1,826,377,547.52, an increase of 11.16% from CNY 1,643,046,794.05 in 2012[25]. - The total assets at the end of 2013 were CNY 19,210,876,320.05, a decrease of 2.84% from CNY 19,771,908,422.04 at the end of 2012[25]. - The net assets attributable to shareholders at the end of 2013 were CNY 7,508,951,416.44, an increase of 3.72% from CNY 7,239,294,558.38 at the end of 2012[25]. - The company reported a significant increase of 88.94% in taxes payable, driven by higher profits[47][48]. - The total profit amounted to RMB 1,008,029,207.36, which is a 27.2% increase from RMB 792,721,686.32 in the previous year[175]. - The net profit for the year was RMB 720,855,183.00, compared to RMB 559,271,197.27 in the previous year, representing an increase of about 28.84%[180]. Cash Flow and Investments - The net cash flow from investment activities was -498 million RMB, a 31.69% increase in outflow compared to the previous year[41]. - The net cash flow from financing activities was -1.612 billion RMB, reflecting an 85.00% increase in outflow compared to the previous year[41]. - The company incurred an investment loss of RMB 95,757,715.87, an improvement from a loss of RMB 117,545,960.97 in the previous year[175]. - The company plans to invest 1.1 billion yuan in the completion of expansion projects, with 600 million yuan allocated for the Quanzhou-Xiamen Expressway and 500 million yuan for the Fuzhou-Quanzhou Expressway[70]. Highway Operations and Traffic - The average daily traffic volume for passenger cars on the Fuzhou-Quanzhou highway was 22,308 vehicles, a slight increase of 0.07% year-on-year, while the average daily traffic volume for trucks increased by 18.02% to 15,954 vehicles[33]. - The average daily traffic volume for passenger cars on the Quanzhou-Xiamen highway was 33,684 vehicles, up 7.37% year-on-year, with truck traffic increasing by 23.42% to 21,319 vehicles[33]. - The total cost of highway toll collection was 140 million RMB, accounting for 16.78% of total costs, with a slight increase of 2.05% compared to the previous year[38]. - The company operates a total of 282 kilometers of highways, including the completed expansion projects of Quanzhou-Xiamen and Fuzhou-Quanzhou highways[61]. Shareholder Information and Dividends - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, subject to shareholder approval[8]. - The company implemented a cash dividend of 1 RMB per 10 shares, totaling 274,440,000 RMB distributed to shareholders[76]. - The company's net profit attributable to shareholders for 2013 was 543,821,436.31 RMB, with a cash dividend payout ratio of 50.47%[76]. Strategic Initiatives and Future Outlook - The company is exploring opportunities for market expansion and potential mergers to strengthen its operational capabilities[51]. - The company anticipates a positive development trend due to the ongoing construction of the Southeast Coastal Expressway network and the active cross-strait exchanges[62]. - The company expects 2014 revenue to be approximately 2.649 billion yuan, with costs around 1.857 billion yuan, and a net profit attributable to the parent company of about 491 million yuan[67]. - The company aims to enhance operational efficiency by improving lane passage rates and reducing traffic congestion during peak hours[68]. - The company is committed to enhancing cash flow management and capital operation capabilities to support sustainable development[66]. Governance and Compliance - The company has appointed Deloitte Touche Tohmatsu CPA Ltd. as its auditor, with an audit fee of 750,000 RMB for the year[91]. - The company has established a comprehensive information disclosure management system, ensuring timely and accurate communication with shareholders[134]. - The company actively promotes the cumulative voting system during the election of directors to enhance shareholder participation[132]. - The company has implemented an internal accountability system to enhance governance and improve decision-making and management levels[136]. Financial Position and Assets - The company's total assets at the end of the year were RMB 2,744,400,000.00, consistent with the previous year[180]. - The total equity of the company rose to RMB 9.24 billion, up from RMB 8.94 billion, indicating an increase of about 3.20%[172]. - The company's cash and cash equivalents decreased to RMB 341.28 million from RMB 625.53 million, a decline of approximately 45.60%[170]. - The total liabilities to equity ratio improved to 1.08 from 1.21, indicating a stronger financial position[172]. Employee and Management Information - The total remuneration for directors and senior management during the reporting period amounted to 2.3014 million RMB[108]. - The total number of employees in the parent company is 657, while the total number of employees in major subsidiaries is 973, resulting in a combined total of 1,630 employees[123]. - The company plans to enhance employee training in 2014, focusing on professional education, skills training, and psychological support[125].