Deluxe Family(600503)2014-02-27 16:00Financial Performance - The net profit attributable to the parent company for 2013 was CNY 22,731,466.97, with a cumulative distributable profit of CNY 522,904,418.83[7]. - Basic earnings per share decreased by 35.69% to CNY 0.0200 in 2013 from CNY 0.0311 in 2012[25]. - The diluted earnings per share also decreased by 35.69% to CNY 0.0200 in 2013 compared to CNY 0.0311 in 2012[25]. - The weighted average return on equity dropped to 1.16% in 2013, down from 1.83% in 2012, a decrease of 0.67 percentage points[25]. - The basic earnings per share after deducting non-recurring gains and losses fell by 88.65% to CNY 0.0032 in 2013 from CNY 0.0282 in 2012[25]. - The company reported a revenue of RMB 721.38 million for 2013, a decrease of 34.14% compared to the previous year[37]. - The net profit attributable to shareholders was RMB 22.73 million, down 35.85% from RMB 35.44 million in 2012[29]. - The company’s revenue from real estate business was RMB 715 million, a decline of 32.14% year-on-year due to decreased property sales[37]. - The company reported a gross profit margin of 29.28% in the real estate sector, a decrease of 2.63 percentage points from the previous year[44]. - The company reported a total revenue of 1.2 billion RMB for the year 2013, representing a year-over-year increase of 15%[119]. Cash Flow and Assets - The net cash flow from operating activities increased by 197.93% to RMB 552.18 million compared to RMB 185.34 million in the previous year[29]. - The total assets decreased by 28.50% to RMB 3.08 billion from RMB 4.30 billion in 2012[29]. - The company’s net assets attributable to shareholders at the end of 2013 were RMB 1.97 billion, a slight increase of 0.12% from the previous year[29]. - The company’s total assets include CNY 55,439,834.53 in cash, representing 1.80% of total assets, down 39.89% from the previous period[47]. - The company’s accounts receivable decreased by 77.63% to CNY 6,032,881.80, reflecting improved cash collection from property sales[47]. - Cash and cash equivalents at the end of the period were CNY 55,439,834.53, a decline of 40% from CNY 92,232,502.49 at the beginning of the year[141]. - Total assets decreased to CNY 3,077,497,759.08 from CNY 4,304,042,200.91, reflecting a decline of 28.5%[143]. Dividends and Shareholder Returns - The proposed cash dividend for 2013 is CNY 0.07 per 10 shares, totaling CNY 7,973,532[7]. - In 2013, the company distributed a cash dividend of 0.07 RMB per 10 shares, totaling 7,973,532 RMB, which represents 35.08% of the net profit attributable to shareholders[69]. - The cash dividend for 2012 was 0.1 RMB per 10 shares, totaling 11,390,760 RMB, which accounted for 32.14% of the net profit attributable to shareholders[69]. - The company has not proposed a cash dividend distribution plan for 2013 despite having positive undistributed profits[68]. Business Operations and Strategy - The company’s main business shifted to real estate development and operation after a major asset restructuring completed in May 2008[21]. - The company plans to raise up to RMB 190 million through a non-public stock issuance to fund the "Tai Shang Hu" project and supplement working capital[36]. - The company expects the real estate market in 2014 to show a trend of initial heat followed by stability, with a significant increase in new housing demand in third and fourth-tier cities[55]. - The company has strengthened its financing platform and capital management capabilities to reduce financing costs and ensure smooth cash flow for project operations[50]. - The company plans to continue expanding its market presence and product offerings in the real estate sector[182]. Risks and Challenges - The company is subject to various risks, including policy and financial risks, as detailed in the board report[12]. - The company faces risks related to raw material price fluctuations and will implement measures to manage costs and optimize procurement strategies[64]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not violated decision-making procedures for providing guarantees[9]. Governance and Compliance - The company has maintained a clear separation from its controlling shareholder in terms of business, personnel, assets, and finance[115]. - The company has not faced any penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[81]. - The company has not experienced any incidents of insider trading or information leakage during the reporting period[116]. - The company has established a system for accountability regarding significant errors in annual report disclosures, with no major errors reported during the period[132]. Future Outlook and Projections - The company provided guidance for 2014, projecting a revenue growth of 25% year-over-year, aiming for 1.875 billion[106]. - New product launches are expected to contribute an additional 300 million in revenue in 2014[106]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 200 million allocated for potential mergers and acquisitions[106]. - The company aims to improve operational efficiency, targeting a reduction in costs by 5% in the upcoming fiscal year[121].