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Tianrun Crankshaft Co., Ltd. Annual Report 2010 Summary
1 Important
1.1 本Board of Directors, Supervisory Board and its directors, supervisors and senior management personnel to ensure that the information contained in this report does not contain any false, misleading statements or material omissions, and the authenticity of the content, accuracy and completeness of individual and joint responsibilities .
year the annual report summary extracted from the full report also contains information on the huge influx of web (www.cninfo.com.cn). For more details, investors should carefully read the annual report.
1.2 Tianjian the company's annual financial report has been audited by Certified Public Accountants issued a standard unqualified audit report.
1.3 companies charge Xingyun Bo, Liu person in charge of accounting and accounting department (accounting officer) Jiang Wei statement: to ensure the annual report financial report is true and complete.
2 Company Profile
2.1 Basic Information
stock short-day run crankshaft
listed on the stock exchange code 002283
Shenzhen Stock Exchange
registered address Wendeng No. 2-13 days
Run Road, registered address office address zip code 264400
Wendeng days
Run Road, No. 2-13 business address postal code 264400
Website of the Company www.tianrun.com
E-mail zhq@tianrun.com
< br> 2.2 the name and contact
securities transactions on behalf of Secretary of the Board names Xucheng Fei Zhou Hongtao
Address Wendeng Run Road, 2-13 days, Shandong WENDENG No. 2-13 days
Run Road, Tel 0631-89823130631-8982313
Fax 0631-89823330631-8982333
E-mail htzhou@tianrun.com
htzhou@tianrun.com
3 Financial and Operating Highlights
3.1 Major accounting data
unit:
2010 Year 2009 In this year than last year (%) 2008
total revenue (yuan) 1,393,393,875.97774,741,663.9779.85% 819,887,771.66
Total profit (million) 274,157,483.65141,250,666.5594.09% 124,661,771.80
attributable to shareholders of listed companies net profit (yuan)
221,658,623.99
113,007,509.42
96.15%
101,289,969.12
< br> attributable to shareholders of listed companies profit excluding non-recurring net profit (yuan)
214,648,293.70
120,396,254.96
78.28%
100,915,317.05
cash flow from operating activities Net (RMB)
387,620,412.34
74,228,442.10
422.20%
207,149,285.27
end of 2010, the end of 2009 than at the end of the year-end change (%
the end of 2008 the total assets (yuan) 2,369,355,088.771,961,667,551.2220.78% 1,397,286,085.70
attributable to equity shareholders of listed companies (per )
1,707,469,318.07
1,502,610,694.08
13.63%
579,358,534.66
equity (shares) 240,000,000.00240,000,000.000.00% 180,000,000.00
3.2 Key Financial Indicators
unit:
2010 年 2009, this year over last year (%) 2008
Basic earnings per share (yuan / share) 0.920.5761.40% 0.56
diluted earnings per share (RMB / share) 0.920.5761.40% 0.56
profit after deducting non-recurring basic earnings per share (RMB / share)
0.89
0.60
48.33%
0.56
weighted average return on net assets (%) 13.81% 12.45% 1.36% 19.21%
after deducting non-recurring gains and losses weighted average return on net assets (%)
13.37%
13.26%
0.11%
19.14%
per share cash flow from operating activities Net (RMB / share)
1.62
0.31
422.58% < br>
1.15
increase or decrease over the previous year of the end of the year
(%)
2010 at the end of the end of 2009 attributable to the end of 2008 listed companies
Net assets per share to shareholders (RMB / share)
7.11
6.26
13.58%
3.22
non-recurring gains and losses Project
√ N
unit:
the amount of non-recurring gains and losses Notes (if applicable)
non-current asset disposal gains and losses -347,912.66
through profit or loss of government subsidies, but closely related to normal operations, in line with national policy, according to certain standards or quantitative quotas continue to enjoy government subsidies except
9,492,240.00
other than the above operating income and expenses -857,mac makeup,959.12
of income tax -1,259,834.32
the amount of minority interests Total 7,010,330.29 -16,203.61
-
3.3 difference inside and outside the accounting standards applicable √ not applicable
4 Share Capital and Shareholders
4.1 Changes in share
< br> Unit: Share
before this change change change this (+,-)
this changes the number of fund
conversion ratio of new shares issued Total number of other small scale
I. Restricted shares 180,000,00075.00% -40,842,000-40,842,000139,158,blackhawks jerseys,00057.98%
1, State-owned shares
2 State-owned legal person shares
3, Other domestic shares 180,000,00075.00% -72,000,000-72,000,000108,000,00045.00%
which: domestic non-state legal person shares
< br> 108,000,000
45.00%
108,000,000
45.00%
Shares held by
72,000,000
30.00 %
-72,000,000
-72,000,000
0
0.00%
4, in which foreign ownership
: Foreign Institutional Ownership
foreign natural persons holding
5, executives share 31,158,00031,158,00031,158,00012.98%
II Shares not 60,000,00025.00% 40,842,00040,842,000100,842,00042.02%
1, RMB ordinary shares 60,000,00025.00% 40,842,00040,842,000100,842,00042.02%
2 Domestically listed foreign shares
3, overseas listed foreign shares
4, other
Total shares 240,000,000100.00% 00240,000,000100.00%
changes in restricted shares Table
Unit: Unit
Restricted shares released this year to increase this year, the number of shares Name of shareholder
early Restricted number of shares at the end of the number of shares subject to lift restrictions on sale date of sale because
Factory Co., Ltd. Shandong Crankshaft
108,000,000
0
0
108,000,000 commitment starting August 21, 2012
Liu Xin
41,544,000
41,544,000
31,158,000
31,158,000
outgoing executives lock May 18, 2011 to unlock the shares held by
50%
Jucheng Li 11,034,00011,034,00000-2010 on August 23
should be flat on August 23 6,966,0006,966,00000-2010
Kwai 5,vibram 5 fingers,400,0005,400,00000-2010 section on August 23
Shigeru 5,400,0005,400,00000-2010 on August 23
Han Lihua 1,656,0001,656,00000-2010 on August 23
Total 180,000,00072,000, 00031,158,000139,158,000 -
4.2 top 10 shareholders, the top 10 tradable shareholders
Table of units: Total number of shareholders 14,698 shares
Top 10 Shareholders
restricted shares held by the number of shares pledged or frozen
Name of shareholder ownership stake nature of the total number of shareholders
Crankshaft Factory Co., Ltd. Shandong, domestic non-state legal
45.00%
108,000,000
108,000,000
0
Liu Xin domestic natural 12.98% 31,158,00031,158,0000
Jucheng Li domestic natural 2.95% 7,081,16100
Bank - China Everbright Pramerica small cap stocks in the domestic securities investment fund non-state legal < br>
1.33%
3,186,399
0
0
leafy domestic natural 1.21% 2,900,00000
Yang suiping within the natural 1.12% 2,693,12700
Yang Pengcheng domestic natural 1.02% 2,440,00000
Bank - Hua Securities Investment Fund of innovation within the non-state legal
1.00% < br>
2,400,000
0
0
natural person shall be flat within 0.88% 2,118,20000
paragraph 0.78% 1,860,00001 Kwai domestic natural , 000,000
Top 10 Shareholders moratorium
Name of shareholder Shares Unlimited number of categories
Jucheng Li 7,081,161 shares of common stock of RMB
Bank - China Everbright Pramerica in the small cap equity securities investment funds
3,186,399 ordinary shares of RMB 2,900,000 yuan
Ye Mao Yang suiping
ordinary shares ordinary shares of RMB 2,693,127
Yang Pengcheng RMB 2,440,000 ordinary shares
Bank - Innovation Hua Securities Investment Fund 2,400,000 ordinary shares of RMB 2,118,200 yuan
ordinary shares to be flat section of Kwai 1,860,000
RMB ordinary shares
China Life Insurance (Group) Company - Traditional - General Insurance Products
1,593,679 ordinary shares of RMB
space Securities Co., Ltd. 1,483,376 ordinary shares of RMB
(1) the controlling shareholder of Shandong Crankshaft Factory Co., Ltd. and other shareholders there is no relationship between the parties acting not.
(2) former shareholders of moratorium 10 Unknown relationship between the existence of or belonging to Introduction
4.3.1 controlling shareholders and actual controller to change the situation
applicable √ not applicable
4.3.2 controlling shareholders and actual controller briefing
controlling shareholders and actual controller of the specific circumstances described below:
1, corporate controlling shareholder Company Name: Shandong Crankshaft Factory Co., Ltd. Legal representative: Xing Yunbo up capital: 1,529.80 million for a date: predecessor Founded in the 20th century, 50 years
Business: manufacture internal combustion engine accessories, knitwear, department stores, groceries, hardware, electrical, auto parts, tractor parts, engine marketing. Currently, the main assets of the crankshaft plant The company held 45% stake in, day 100% profit share of real estate and some non-production operations of the land and property, the total
factory crankshaft itself is not engaged in production operations.
2, the actual controller of the company name: Xing Yunbo Nationality: Chinese
Whether a right of abode in other countries or regions: No
last 5 years of occupation and duties: Since its inception, served as The chairman and general manager, chairman, 18 November 2010 the second session of the Board of Directors was elected chairman of the company. Meanwhile, Chairman of Shandong Factory crankshaft.
4.3.3 Company and the actual between the control of the relationship between ownership and control block diagram
5 directors, supervisors and senior management
5.1 directors, supervisors and senior management changes in shareholding and remuneration
During the reporting period the total compensation received from the Company (million) (before tax whether shareholders or other related units to receive pay
end of the beginning of the number of shareholders holding the number of name changes because
term of office sex, age term start date end date
Xingyun Bo, chairman of male 632,010 on November 18 November 17, 2013 0030.00 No
Sun Haitao vice chairman, general manager of M
542010 on November 18 November 17, 2013
0
0
25.00 No
Huan heart Ze Director M 582 010 on November 18 November 17, 2013 0018.00
whether male 572,010 in directors for the water on November 18 November 17, 2013 0018.00
Xu Chengfei whether directors, executive
Deputy Secretary of the Board
Male
41
2010 年 11 月 18 日
2013 年 11 月 17 日
0
0
18.00
not
Liu Director, Deputy
Manager, Chief Financial Officer
female
43
2010 年 11 月 18 日
2013 年 11 月 17 日
0
0 < br>
24.00
WEI whether male power of independent directors on 18 November 582010 November 17, 2013 005.00
Liu Hongxia independent directors whether the 482,010 women 11 years 18 November 17, 2013 005.00
Jiang Aili independent directors whether the 472,010 women on November 18 November 17 2013 005.00 No
in the tree next 11 years, Chairman of the Supervisory M 472 010 18 November 17, 2013 000.00
Li Zhao supervisor is male 562,010 on November 18 November 17, 2013 007.00 supervisors whether male 392,010
Wang Jun, on November 18 November 17, 2013 005.00 No
vice president at TNK-male 492,010 in November 18 November 17, 2013 0018.00 Deputy General Manager Liu Hongfu whether
on November 18 Male 462 010 Date November 17, 2013 0018.00 Deputy male has
Zhou Xianzhong on 18 November 412010 November 17, 2013 0018.00 deputy general manager Zhang Yang has
male 292,010 in November 18, November 17, 2013 0024.00 No
Total-00-238.00-
directors, supervisors and senior management personnel were granted options during the excitation
Applicable √ Not applicable
5.2 Directors attend Board meetings by means of communication to participate in
whether the number of meetings to attend two consecutive meetings without attendance of commission
site Attendance
Name of director attendance of absent specific duties should be the number of
Xingyun Bo has
Sun Haitao, chairman of the directors 98,100 98,100 No
Huan heart Ze Director 98100 No
< br> to make the water directors 98,100 98,100 Directors has
Xucheng Fei Liu Xin has
whether the outgoing Director 74300 22000
Director Liu has
independent Liu Hongxia Directors 95400 WEI force has
whether independent directors 95,400 98,100
Jiang Aili has
independent directors did not attend two consecutive meetings of the board during the board meeting that
9
meetings including: on-site meetings 4
communication meetings with the number 1
field communication meetings held 4
6 Report
6.1 Management Discussion and Analysis
1, 2010 the overall operation of the company
2010, the national fixed assets investment to maintain steady growth, highways, high-speed railways, urban large-scale rail transport infrastructure and logistics industry, heavy-duty engine crankshaft driven the rapid development of strong sales, the increase in national income level makes the car such as increased market demand for passenger cars. benefit from the increase in market demand and the vehicle company supporting customers matching ratio continued to increase, the increase in new customer development and other reasons, company product demand.
2010 year, the company further reinforce the straighten out, to overcome the production capacity, raw material prices and other unfavorable factors, development of the industry to grasp opportunities, and actively carry out market development and capacity expansion, to achieve total revenue of 139,339.39 million, representing
2009 annual growth of 79.85%, total profit of 27,415.75 million, representing growth of 94.09 percent in 2009 to achieve the net profit attributable to shareholders 22,165.86
million, representing annual growth in 2009 96.15%.
2, development of the industry trends and corporate development opportunities
(1) 2009 years, the national infrastructure at a higher level, urbanization, highways, high-speed rail, urban rail transit and other major projects coming on line in various places on the higher demand for all types of trucks; national income level, makes the car hot market demand, although the introduction of some areas to curb the purchase of that car consumption, but in the nationwide trend of rising demand for cars is difficult to change in a short time; as In recent years the rapid development of logistics and transport industry, the demand for all types of trucks increased. In sum, with the steady development of China's macro economy, the automobile industry has gradually become the pillar industry of national economy, the company as a leading auto parts industry business, take full advantage of the rapid development of automotive industry market opportunities, the automotive parts industry representative companies.
(2) the national industrial policy to support August 15, 2009, the Ministry of National Development and Reform Commission jointly Commission issued the field of auto parts to gradually form a system development capability, in the general area of automotive components to the formation of advanced product development and manufacturing capacity to meet the needs of domestic and foreign markets, and strive to enter the international auto parts procurement system.
② for a number of independent automobile manufacturers support and international auto parts procurement system, parts manufacturers, countries in technology transfer, technological innovation and financing to priority support.'s current development strategy of response to Industry Development Policy capacity.
3, the company development strategy and planning of the company to spirit, in accordance with the business of the multi-species, multi-family structure changes, broken connecting rod driven expansion of related industries such as the rapid development of auto parts; ② achieve product with independent intellectual property design and development capabilities of the change, which is manufactured from the crankshaft to the crankshaft to create change. Through the br>
4,2011, the company business objectives
2011, the company business objectives: to enhance the quality of products, improve production efficiency, rapid growth of the company in 2010, based on the steady improvement in the business indicators to achieve full year production goal of 1.2 million crankshaft. (these objectives do not represent the company's profit forecast for the year 2011, can be achieved depends on many factors such as market conditions change, uncertainty, investors are requested to note that risk.)
2011 annual operating priorities: forms of development, earnestly carry out automation of equipment and construction investment projects and further improve-day run industry development planning and development strategies to increase the competitiveness of the company; structural adjustment: the adjustment of product structure, increase of heavy truck, light truck and passenger car crankshaft R & D, to speed up marine, engineering machinery crank development, speed up the processing and the expansion of high-grade cast-off rod business; provide efficiency: technical, equipment, personnel, etc. to enhance efficiency, play equipment for maximum efficiency, less slow down idle equipment, lifting equipment
utilization to reduce costs and improve competitiveness of companies; by income: the business benefits on the basis of steady growth, continue to improve the welfare of staff salaries. four changes: ① from the automated and efficient competitive crank to create to the quality of life and production as the hub, to finance the center, management, improved logistics, enhanced technology standards, to achieve leapfrog development Tianrun crankshaft.
5, the main business risks facing the company and Measures
(1) fluctuations in raw material prices at present, the company The main products are forged steel crankshaft, cast iron crankshaft and connecting rods, forged steel crankshaft is the main raw material, steel and pig iron. 2008, 2009 and 2010, forged steel crankshaft proportion of total costs were the main business was 22.08%, 15.36% and 27.00%, steel accounts for the ratio of cost of principal operations was 21.25%,
21.12% and 19.07%. fluctuations in raw material prices, the costs rise if the company unable to maintain sufficient profit margins, the company's profitability will be adversely affected. In this regard, the company effectively extend the industrial chain of the crankshaft, forged steel crankshaft with a strong, ductile iron crankshaft of the self capacity, than the average < br>
crankshaft manufacturing enterprises have higher profit margins and risk-resisting ability, and the company has taken to closely follow the trend of price fluctuations of raw materials, the use of flexible procurement of low price volatility, product sales in the crank to raise prices in the space reserved , and signed a long-term contract suppliers, etc. reduce the impact of fluctuations in raw material prices.
(2) fluctuations in the heavy truck industry, market demand for our products affect the risk of companies specialized in the production and sale of the engine crankshaft. The crankshaft is the core of the engine parts, automobile, engineering machinery industry is the engine needs major downstream industries. In recent years, according to the downstream market demand, product positioning as the leading heavy-duty engine crankshaft, heavy-duty engine crankshaft in the competitive advantage of outstanding field . 2008, 2009 and 2010, the company's sales of heavy-duty engine crankshaft of our total revenue in the proportion of sales revenue was 79.30%, 76.47% and 79.79%.
the operation of the company by the automotive industry in particular is the heavy truck industry, greater market volatility. In this regard, the company planned strategic objectives, even with the product structure in the heavy truck crankshaft and light truck, passenger car to strike a balance between the crankshaft,mac brushes, connecting rods while gradually increasing the scale of production and marketing of new products in order to avoid market fluctuations on a single model of market demand of our products.
(3) exchange rate fluctuations in recent years, the company actively explore overseas markets, foreign orders increasing trend year by year. At present, the company has passed including the Iveco factory in France, Cummins India, including multinational Leland engine certification testing of OEMs to start shipping in volume. With the further increase production capacity and product mix to further improve the company export sales will continue to grow. At present, the implementation of a managed floating RMB exchange rate regime, exchange rate fluctuations will directly affect the pricing of the company sales of export products, thus affecting the company's economic benefits to the company bring some risks. Although the company the proportion of export sales is also small, but with the growth in the size of the export business, the company's foreign currency assets also increased, the RMB exchange rate fluctuations of foreign currencies will likely bring to the company exchange gains and losses. In this regard, the company actively well-known around the globe and supporting the establishment of cooperation between the host company, through the formation of multi-currency foreign exchange earnings, to a certain extent, decentralized single currency exchange rate fluctuations risk. Meanwhile, the company actively working with foreign customers with a relatively stable currency as the currency monetary settlement, to prevent exchange rate fluctuations.
6.2 Major operation in industry and in product
Unit: million
main operations by industry
< br> operating income over last year (%) Operating cost over last year (%) gross margin over last year (%)
Industry or the cost of product sales revenue gross margin ( %)
auto parts manufacturing 136,530.3294,926.3630.47% 80.13% 79.18% 0.37%
main business by product
heavy-duty engine crankshaft 108,936.8372,441.9733. 50% 87.94% 89.92% -0.69%
light engine crankshaft 8,771.647,044.0119.70% 28.01% 15.24% 8.90%
medium of engine crankshaft 7,583.196,902.008.98% 66.12% 67.45% - 0.72%
6.3 Main business by regions
Unit: million
regional operating income over last year (%)
Domestic sales 131,553.9174.83%
foreign sales 4,976.41811.10%
6.4 at fair value measurement
√ not applicable for raising funds
6.5 Use table
√ N
Unit: million total funds raised
80,612.47
42,531.96
year to raise investment Total funds
use changes during the reporting period the total funds raised 0.00
cumulative total funds raised to change use of 0.00
79,063.32
has invested proceeds cumulative total
total funds raised to change the proportion of use of 0.00%
project has been changed (with some changes)
whether significant changes in project feasibility
As of the end of investment progress (%) (3) =
(2) / (1)
commitment to raise funds has invested a total investment amount as at end of period (2) project to achieve its intended use date whether the benefits achieved during the year is expected to benefit
commitment to investment projects and raised funds to invest in ultra-adjusted total investment (1) year commitment to invest the amount of investment projects
light truck crankshaft production line project has
10,379.00
10,379.00
-78.13
10,379.00
100.00% 2010 年 08 月
< br> 663.00 is
heavy truck crankshaft production line has
17,049.00
17,049.00
8,584.25
17,175.56
100.74% in February 2011
0.00 Not applicable No
Weichai heavy truck crankshaft production line has
14,876.00
14,876.00
7,262.30
14,911.94
100.24% 2010 年 11 月
526.00 if
Xichai heavy truck crankshaft production line has
19,084.00 < br>
19,084.00
10,327.62
19,084.00
100.00% 2011 年 02 月
0.00 NA has committed to invest
Subtotal -61,388.0061,388.0026,096.0461,550.501,189.00
super heavy-duty raised funds into the engine crankshaft forging production project has
19,224.47
19,224.47
16,435.92
17,512.82
91.10% 2012 年 01 月
0.00
not apply to any repayment of bank loans (if any) < br>
-
-
-
-
-
supplement working capital (if any)
-
-
-
-
-
raise funds to invest in super Subtotal -19,224.4719,224.4716,435.9217 , 512.820.00
Total -80,612.4780,612.4742,531.9679,063.321,189.00
does not meet the schedule or the expected benefits and the reasons (by project)
not
feasibility for major changes in the information note no
raised funds over the amount, purpose and use of progress
company for raising over funds totaling 192,244,650.00 yuan. In order to improve efficiency in the use of funds raised, in October 2009, the company's first session of the eleventh meeting of the Board considered and approved, the company used funds raised in excess of this 15,000 million invested in the construction of heavy-duty forged crankshaft production line.
To speed up the progress of the project, in October 2010, the company's first session of the Eighteenth Meeting of the Board considered and approved, the company will raise funds over the remaining total of 42,244,650.00 Yuan to continue into the heavy-duty engine crankshaft forging production line project. As of December 31, 2010 raised funds over the progress of project implementation in accordance with.
place to raise funds to implement investment projects do not apply to change
investment project to raise funds adjust the situation does not
raise funds for investment projects and the replacement of pre-investment situation did not raise this issue for
capital investment and replacement investment projects in advance for
case with idle temporarily raise funds add liquidity situation
status in September 2009, the company's first session of the tenth meeting of the Board considered and approved, the company raised capital by 8,000 million idle temporarily add liquidity, the company in 2010 February to return the part of the funds to raise funds account.
2010 年 2 months, the company's first session of the thirteenth meeting of the Board considered and approved, the Company continued to use the idle time being to raise funds to add 8,000 million flows funds, the company in August 2010 to return to this part of the capital account to raise funds.
project appears to raise the amount of fund balances and the reasons do not apply
yet Use of proceeds used and destination purposes: to raise funds unused balance of 1,549.15 million, is scheduled to put into heavy-duty engine crankshaft forging production line. to go: the remaining proceeds deposited in the special account to raise funds.
raised use and disclosure of financial problems or other circumstances at the end of 12 by 2010, the company raised the tender part of the actual total investment exceeds the total investment of 1.625 million yuan pledge, the company was in January 2011
to excess account from its own funds to raise funds to return to the account.
change table of investment projects to raise funds for
√ not applicable
6.6 cases of non-fund-raising project
< br> applicable √ not applicable
6.7 Board of Directors of the company's accounting policies, accounting estimates or material accounting errors in the causes and effects that
√ applicable Not applicable reporting period, the company holding child Wendeng Hengrun Forging Co., Ltd. company to more accurately reflect the depreciation of fixed assets Hengrun forging conditions and expected residual value, and the Secretary with the listed companies
consistent residual value of fixed assets, the Board resolution from 2010 effect on Jan. 1 the net residual value of fixed assets from 10% to 5% change. The changes in accounting estimates applied prospectively, the year of 2010 to reduce the net profit or loss of RMB 290,732.25.
6.8 The Board of Certified Public Accountants Tianjian Certified Public Accountants issued under the standard unqualified audit report (Tianjian trial [2011] 186), the company in 2010 net profit attributable to shareholders was RMB 221,658,623.99, plus retained earnings 219,055,865.46 per year , minus the 2010 net profit by 10% of the parent company statutory surplus reserve 17,753,414.88 million, minus the 2009 profit distribution cash dividends 16,800,000.00 dollars, the 2010 year-end profits available for distribution to shareholders for the
406,161,074.57 element.
Company intends to 2010 the total share capital of 240,000,000 shares of the end as the base to the way of equity shares to all shareholders for every 10 Shares of 7 shares; to undistributed profits to send 3 shares for every 10 shares for every 10 shares cash dividends of RMB 1.00 (tax included).
the plan still need to submit the Annual General Meeting approved the company in 2010.
company cash dividends in the past three years Table
Unit: RMB
dividends attributable to the annual consolidated statements of shareholders of listed companies accounted for consolidated net profit attributable to shareholders of listed companies in the ratio of net annual cash dividend
the amount of dividends Available for sale financial assets Gains (losses) less the amount of
: Available for sale financial assets arising from pre-tax impact of
period recognized in other comprehensive income into net profit
Subtotal
2. Cash flow hedging instrument Gains (or loss) amount
Less: cash flow hedging instruments
generated pre-tax impact of gains recognized in other comprehensive loss into net profit < br>
into the amount of the hedged item adjustments for the initial recognition
Subtotal
4. Internal control self-assessment report is true, objective reflection of the company's internal control system of the construction and operation. Owner of the invested capital
2. Surplus reserves
2. General risk reserve
3. Capital reserves
(or equity)
2. Other
(f) Special reserve
1. Current extraction
2. Owner of the invested capital
2. Surplus reserves
2. General risk reserve
3. Capital reserves
(or equity)
2. Other
(f) Special reserve
1. Current extraction
2.
Tianrun Crankshaft Co., Ltd. Annual Report 2010 Summary
1 Important
1.1 本Board of Directors, Supervisory Board and its directors, supervisors and senior management personnel to ensure that the information contained in this report does not contain any false, misleading statements or material omissions, and the authenticity of the content, accuracy and completeness of individual and joint responsibilities .
year the annual report summary extracted from the full report also contains information on the huge influx of web (www.cninfo.com.cn). For more details, investors should carefully read the annual report.
1.2 Tianjian the company's annual financial report has been audited by Certified Public Accountants issued a standard unqualified audit report.
1.3 companies charge Xingyun Bo, Liu person in charge of accounting and accounting department (accounting officer) Jiang Wei statement: to ensure the annual report financial report is true and complete.
2 Company Profile
2.1 Basic Information
stock short-day run crankshaft
listed on the stock exchange code 002283
Shenzhen Stock Exchange
registered address Wendeng No. 2-13 days
Run Road, registered address office address zip code 264400
Wendeng days
Run Road, No. 2-13 business address postal code 264400
Website of the Company www.tianrun.com
E-mail zhq@tianrun.com
< br> 2.2 the name and contact
securities transactions on behalf of Secretary of the Board names Xucheng Fei Zhou Hongtao
Address Wendeng Run Road, 2-13 days, Shandong WENDENG No. 2-13 days
Run Road, Tel 0631-89823130631-8982313
Fax 0631-89823330631-8982333
E-mail htzhou@tianrun.com
htzhou@tianrun.com
3 Financial and Operating Highlights
3.1 Major accounting data
unit:
2010 Year 2009 In this year than last year (%) 2008
total revenue (yuan) 1,393,393,875.97774,741,663.9779.85% 819,887,771.66
Total profit (million) 274,157,483.65141,250,666.5594.09% 124,661,771.80
attributable to shareholders of listed companies net profit (yuan)
221,658,623.99
113,007,509.42
96.15%
101,289,969.12
< br> attributable to shareholders of listed companies profit excluding non-recurring net profit (yuan)
214,648,293.70
120,396,254.96
78.28%
100,915,317.05
cash flow from operating activities Net (RMB)
387,620,412.34
74,228,442.10
422.20%
207,149,285.27
end of 2010, the end of 2009 than at the end of the year-end change (%
the end of 2008 the total assets (yuan) 2,369,355,088.771,961,667,551.2220.78% 1,397,286,085.70
attributable to equity shareholders of listed companies (per )
1,707,469,318.07
1,502,610,694.08
13.63%
579,358,534.66
equity (shares) 240,000,000.00240,000,000.000.00% 180,000,000.00
3.2 Key Financial Indicators
unit:
2010 年 2009, this year over last year (%) 2008
Basic earnings per share (yuan / share) 0.920.5761.40% 0.56
diluted earnings per share (RMB / share) 0.920.5761.40% 0.56
profit after deducting non-recurring basic earnings per share (RMB / share)
0.89
0.60
48.33%
0.56
weighted average return on net assets (%) 13.81% 12.45% 1.36% 19.21%
after deducting non-recurring gains and losses weighted average return on net assets (%)
13.37%
13.26%
0.11%
19.14%
per share cash flow from operating activities Net (RMB / share)
1.62
0.31
422.58% < br>
1.15
increase or decrease over the previous year of the end of the year
(%)
2010 at the end of the end of 2009 attributable to the end of 2008 listed companies
Net assets per share to shareholders (RMB / share)
7.11
6.26
13.58%
3.22
non-recurring gains and losses Project
√ N
unit:
the amount of non-recurring gains and losses Notes (if applicable)
non-current asset disposal gains and losses -347,912.66
through profit or loss of government subsidies, but closely related to normal operations, in line with national policy, according to certain standards or quantitative quotas continue to enjoy government subsidies except
9,492,240.00
other than the above operating income and expenses -857,mac makeup,959.12
of income tax -1,259,834.32
the amount of minority interests Total 7,010,330.29 -16,203.61
-
3.3 difference inside and outside the accounting standards applicable √ not applicable
4 Share Capital and Shareholders
4.1 Changes in share
< br> Unit: Share
before this change change change this (+,-)
this changes the number of fund
conversion ratio of new shares issued Total number of other small scale
I. Restricted shares 180,000,00075.00% -40,842,000-40,842,000139,158,blackhawks jerseys,00057.98%
1, State-owned shares
2 State-owned legal person shares
3, Other domestic shares 180,000,00075.00% -72,000,000-72,000,000108,000,00045.00%
which: domestic non-state legal person shares
< br> 108,000,000
45.00%
108,000,000
45.00%
Shares held by
72,000,000
30.00 %
-72,000,000
-72,000,000
0
0.00%
4, in which foreign ownership
: Foreign Institutional Ownership
foreign natural persons holding
5, executives share 31,158,00031,158,00031,158,00012.98%
II Shares not 60,000,00025.00% 40,842,00040,842,000100,842,00042.02%
1, RMB ordinary shares 60,000,00025.00% 40,842,00040,842,000100,842,00042.02%
2 Domestically listed foreign shares
3, overseas listed foreign shares
4, other
Total shares 240,000,000100.00% 00240,000,000100.00%
changes in restricted shares Table
Unit: Unit
Restricted shares released this year to increase this year, the number of shares Name of shareholder
early Restricted number of shares at the end of the number of shares subject to lift restrictions on sale date of sale because
Factory Co., Ltd. Shandong Crankshaft
108,000,000
0
0
108,000,000 commitment starting August 21, 2012
Liu Xin
41,544,000
41,544,000
31,158,000
31,158,000
outgoing executives lock May 18, 2011 to unlock the shares held by
50%
Jucheng Li 11,034,00011,034,00000-2010 on August 23
should be flat on August 23 6,966,0006,966,00000-2010
Kwai 5,vibram 5 fingers,400,0005,400,00000-2010 section on August 23
Shigeru 5,400,0005,400,00000-2010 on August 23
Han Lihua 1,656,0001,656,00000-2010 on August 23
Total 180,000,00072,000, 00031,158,000139,158,000 -
4.2 top 10 shareholders, the top 10 tradable shareholders
Table of units: Total number of shareholders 14,698 shares
Top 10 Shareholders
restricted shares held by the number of shares pledged or frozen
Name of shareholder ownership stake nature of the total number of shareholders
Crankshaft Factory Co., Ltd. Shandong, domestic non-state legal
45.00%
108,000,000
108,000,000
0
Liu Xin domestic natural 12.98% 31,158,00031,158,0000
Jucheng Li domestic natural 2.95% 7,081,16100
Bank - China Everbright Pramerica small cap stocks in the domestic securities investment fund non-state legal < br>
1.33%
3,186,399
0
0
leafy domestic natural 1.21% 2,900,00000
Yang suiping within the natural 1.12% 2,693,12700
Yang Pengcheng domestic natural 1.02% 2,440,00000
Bank - Hua Securities Investment Fund of innovation within the non-state legal
1.00% < br>
2,400,000
0
0
natural person shall be flat within 0.88% 2,118,20000
paragraph 0.78% 1,860,00001 Kwai domestic natural , 000,000
Top 10 Shareholders moratorium
Name of shareholder Shares Unlimited number of categories
Jucheng Li 7,081,161 shares of common stock of RMB
Bank - China Everbright Pramerica in the small cap equity securities investment funds
3,186,399 ordinary shares of RMB 2,900,000 yuan
Ye Mao Yang suiping
ordinary shares ordinary shares of RMB 2,693,127
Yang Pengcheng RMB 2,440,000 ordinary shares
Bank - Innovation Hua Securities Investment Fund 2,400,000 ordinary shares of RMB 2,118,200 yuan
ordinary shares to be flat section of Kwai 1,860,000
RMB ordinary shares
China Life Insurance (Group) Company - Traditional - General Insurance Products
1,593,679 ordinary shares of RMB
space Securities Co., Ltd. 1,483,376 ordinary shares of RMB
(1) the controlling shareholder of Shandong Crankshaft Factory Co., Ltd. and other shareholders there is no relationship between the parties acting not.
(2) former shareholders of moratorium 10 Unknown relationship between the existence of or belonging to Introduction
4.3.1 controlling shareholders and actual controller to change the situation
applicable √ not applicable
4.3.2 controlling shareholders and actual controller briefing
controlling shareholders and actual controller of the specific circumstances described below:
1, corporate controlling shareholder Company Name: Shandong Crankshaft Factory Co., Ltd. Legal representative: Xing Yunbo up capital: 1,529.80 million for a date: predecessor Founded in the 20th century, 50 years
Business: manufacture internal combustion engine accessories, knitwear, department stores, groceries, hardware, electrical, auto parts, tractor parts, engine marketing. Currently, the main assets of the crankshaft plant The company held 45% stake in, day 100% profit share of real estate and some non-production operations of the land and property, the total
factory crankshaft itself is not engaged in production operations.
2, the actual controller of the company name: Xing Yunbo Nationality: Chinese
Whether a right of abode in other countries or regions: No
last 5 years of occupation and duties: Since its inception, served as The chairman and general manager, chairman, 18 November 2010 the second session of the Board of Directors was elected chairman of the company. Meanwhile, Chairman of Shandong Factory crankshaft.
4.3.3 Company and the actual between the control of the relationship between ownership and control block diagram
5 directors, supervisors and senior management
5.1 directors, supervisors and senior management changes in shareholding and remuneration
During the reporting period the total compensation received from the Company (million) (before tax whether shareholders or other related units to receive pay
end of the beginning of the number of shareholders holding the number of name changes because
term of office sex, age term start date end date
Xingyun Bo, chairman of male 632,010 on November 18 November 17, 2013 0030.00 No
Sun Haitao vice chairman, general manager of M
542010 on November 18 November 17, 2013
0
0
25.00 No
Huan heart Ze Director M 582 010 on November 18 November 17, 2013 0018.00
whether male 572,010 in directors for the water on November 18 November 17, 2013 0018.00
Xu Chengfei whether directors, executive
Deputy Secretary of the Board
Male
41
2010 年 11 月 18 日
2013 年 11 月 17 日
0
0
18.00
not
Liu Director, Deputy
Manager, Chief Financial Officer
female
43
2010 年 11 月 18 日
2013 年 11 月 17 日
0
0 < br>
24.00
WEI whether male power of independent directors on 18 November 582010 November 17, 2013 005.00
Liu Hongxia independent directors whether the 482,010 women 11 years 18 November 17, 2013 005.00
Jiang Aili independent directors whether the 472,010 women on November 18 November 17 2013 005.00 No
in the tree next 11 years, Chairman of the Supervisory M 472 010 18 November 17, 2013 000.00
Li Zhao supervisor is male 562,010 on November 18 November 17, 2013 007.00 supervisors whether male 392,010
Wang Jun, on November 18 November 17, 2013 005.00 No
vice president at TNK-male 492,010 in November 18 November 17, 2013 0018.00 Deputy General Manager Liu Hongfu whether
on November 18 Male 462 010 Date November 17, 2013 0018.00 Deputy male has
Zhou Xianzhong on 18 November 412010 November 17, 2013 0018.00 deputy general manager Zhang Yang has
male 292,010 in November 18, November 17, 2013 0024.00 No
Total-00-238.00-
directors, supervisors and senior management personnel were granted options during the excitation
Applicable √ Not applicable
5.2 Directors attend Board meetings by means of communication to participate in
whether the number of meetings to attend two consecutive meetings without attendance of commission
site Attendance
Name of director attendance of absent specific duties should be the number of
Xingyun Bo has
Sun Haitao, chairman of the directors 98,100 98,100 No
Huan heart Ze Director 98100 No
< br> to make the water directors 98,100 98,100 Directors has
Xucheng Fei Liu Xin has
whether the outgoing Director 74300 22000
Director Liu has
independent Liu Hongxia Directors 95400 WEI force has
whether independent directors 95,400 98,100
Jiang Aili has
independent directors did not attend two consecutive meetings of the board during the board meeting that
9
meetings including: on-site meetings 4
communication meetings with the number 1
field communication meetings held 4
6 Report
6.1 Management Discussion and Analysis
1, 2010 the overall operation of the company
2010, the national fixed assets investment to maintain steady growth, highways, high-speed railways, urban large-scale rail transport infrastructure and logistics industry, heavy-duty engine crankshaft driven the rapid development of strong sales, the increase in national income level makes the car such as increased market demand for passenger cars. benefit from the increase in market demand and the vehicle company supporting customers matching ratio continued to increase, the increase in new customer development and other reasons, company product demand.
2010 year, the company further reinforce the straighten out, to overcome the production capacity, raw material prices and other unfavorable factors, development of the industry to grasp opportunities, and actively carry out market development and capacity expansion, to achieve total revenue of 139,339.39 million, representing
2009 annual growth of 79.85%, total profit of 27,415.75 million, representing growth of 94.09 percent in 2009 to achieve the net profit attributable to shareholders 22,165.86
million, representing annual growth in 2009 96.15%.
2, development of the industry trends and corporate development opportunities
(1) 2009 years, the national infrastructure at a higher level, urbanization, highways, high-speed rail, urban rail transit and other major projects coming on line in various places on the higher demand for all types of trucks; national income level, makes the car hot market demand, although the introduction of some areas to curb the purchase of that car consumption, but in the nationwide trend of rising demand for cars is difficult to change in a short time; as In recent years the rapid development of logistics and transport industry, the demand for all types of trucks increased. In sum, with the steady development of China's macro economy, the automobile industry has gradually become the pillar industry of national economy, the company as a leading auto parts industry business, take full advantage of the rapid development of automotive industry market opportunities, the automotive parts industry representative companies.
(2) the national industrial policy to support August 15, 2009, the Ministry of National Development and Reform Commission jointly Commission issued the field of auto parts to gradually form a system development capability, in the general area of automotive components to the formation of advanced product development and manufacturing capacity to meet the needs of domestic and foreign markets, and strive to enter the international auto parts procurement system.
② for a number of independent automobile manufacturers support and international auto parts procurement system, parts manufacturers, countries in technology transfer, technological innovation and financing to priority support.'s current development strategy of response to Industry Development Policy capacity.
3, the company development strategy and planning of the company to spirit, in accordance with the business of the multi-species, multi-family structure changes, broken connecting rod driven expansion of related industries such as the rapid development of auto parts; ② achieve product with independent intellectual property design and development capabilities of the change, which is manufactured from the crankshaft to the crankshaft to create change. Through the br>
4,2011, the company business objectives
2011, the company business objectives: to enhance the quality of products, improve production efficiency, rapid growth of the company in 2010, based on the steady improvement in the business indicators to achieve full year production goal of 1.2 million crankshaft. (these objectives do not represent the company's profit forecast for the year 2011, can be achieved depends on many factors such as market conditions change, uncertainty, investors are requested to note that risk.)
2011 annual operating priorities: forms of development, earnestly carry out automation of equipment and construction investment projects and further improve-day run industry development planning and development strategies to increase the competitiveness of the company; structural adjustment: the adjustment of product structure, increase of heavy truck, light truck and passenger car crankshaft R & D, to speed up marine, engineering machinery crank development, speed up the processing and the expansion of high-grade cast-off rod business; provide efficiency: technical, equipment, personnel, etc. to enhance efficiency, play equipment for maximum efficiency, less slow down idle equipment, lifting equipment
utilization to reduce costs and improve competitiveness of companies; by income: the business benefits on the basis of steady growth, continue to improve the welfare of staff salaries. four changes: ① from the automated and efficient competitive crank to create to the quality of life and production as the hub, to finance the center, management, improved logistics, enhanced technology standards, to achieve leapfrog development Tianrun crankshaft.
5, the main business risks facing the company and Measures
(1) fluctuations in raw material prices at present, the company The main products are forged steel crankshaft, cast iron crankshaft and connecting rods, forged steel crankshaft is the main raw material, steel and pig iron. 2008, 2009 and 2010, forged steel crankshaft proportion of total costs were the main business was 22.08%, 15.36% and 27.00%, steel accounts for the ratio of cost of principal operations was 21.25%,
21.12% and 19.07%. fluctuations in raw material prices, the costs rise if the company unable to maintain sufficient profit margins, the company's profitability will be adversely affected. In this regard, the company effectively extend the industrial chain of the crankshaft, forged steel crankshaft with a strong, ductile iron crankshaft of the self capacity, than the average < br>
crankshaft manufacturing enterprises have higher profit margins and risk-resisting ability, and the company has taken to closely follow the trend of price fluctuations of raw materials, the use of flexible procurement of low price volatility, product sales in the crank to raise prices in the space reserved , and signed a long-term contract suppliers, etc. reduce the impact of fluctuations in raw material prices.
(2) fluctuations in the heavy truck industry, market demand for our products affect the risk of companies specialized in the production and sale of the engine crankshaft. The crankshaft is the core of the engine parts, automobile, engineering machinery industry is the engine needs major downstream industries. In recent years, according to the downstream market demand, product positioning as the leading heavy-duty engine crankshaft, heavy-duty engine crankshaft in the competitive advantage of outstanding field . 2008, 2009 and 2010, the company's sales of heavy-duty engine crankshaft of our total revenue in the proportion of sales revenue was 79.30%, 76.47% and 79.79%.
the operation of the company by the automotive industry in particular is the heavy truck industry, greater market volatility. In this regard, the company planned strategic objectives, even with the product structure in the heavy truck crankshaft and light truck, passenger car to strike a balance between the crankshaft,mac brushes, connecting rods while gradually increasing the scale of production and marketing of new products in order to avoid market fluctuations on a single model of market demand of our products.
(3) exchange rate fluctuations in recent years, the company actively explore overseas markets, foreign orders increasing trend year by year. At present, the company has passed including the Iveco factory in France, Cummins India, including multinational Leland engine certification testing of OEMs to start shipping in volume. With the further increase production capacity and product mix to further improve the company export sales will continue to grow. At present, the implementation of a managed floating RMB exchange rate regime, exchange rate fluctuations will directly affect the pricing of the company sales of export products, thus affecting the company's economic benefits to the company bring some risks. Although the company the proportion of export sales is also small, but with the growth in the size of the export business, the company's foreign currency assets also increased, the RMB exchange rate fluctuations of foreign currencies will likely bring to the company exchange gains and losses. In this regard, the company actively well-known around the globe and supporting the establishment of cooperation between the host company, through the formation of multi-currency foreign exchange earnings, to a certain extent, decentralized single currency exchange rate fluctuations risk. Meanwhile, the company actively working with foreign customers with a relatively stable currency as the currency monetary settlement, to prevent exchange rate fluctuations.
6.2 Major operation in industry and in product
Unit: million
main operations by industry
< br> operating income over last year (%) Operating cost over last year (%) gross margin over last year (%)
Industry or the cost of product sales revenue gross margin ( %)
auto parts manufacturing 136,530.3294,926.3630.47% 80.13% 79.18% 0.37%
main business by product
heavy-duty engine crankshaft 108,936.8372,441.9733. 50% 87.94% 89.92% -0.69%
light engine crankshaft 8,771.647,044.0119.70% 28.01% 15.24% 8.90%
medium of engine crankshaft 7,583.196,902.008.98% 66.12% 67.45% - 0.72%
6.3 Main business by regions
Unit: million
regional operating income over last year (%)
Domestic sales 131,553.9174.83%
foreign sales 4,976.41811.10%
6.4 at fair value measurement
√ not applicable for raising funds
6.5 Use table
√ N
Unit: million total funds raised
80,612.47
42,531.96
year to raise investment Total funds
use changes during the reporting period the total funds raised 0.00
cumulative total funds raised to change use of 0.00
79,063.32
has invested proceeds cumulative total
total funds raised to change the proportion of use of 0.00%
project has been changed (with some changes)
whether significant changes in project feasibility
As of the end of investment progress (%) (3) =
(2) / (1)
commitment to raise funds has invested a total investment amount as at end of period (2) project to achieve its intended use date whether the benefits achieved during the year is expected to benefit
commitment to investment projects and raised funds to invest in ultra-adjusted total investment (1) year commitment to invest the amount of investment projects
light truck crankshaft production line project has
10,379.00
10,379.00
-78.13
10,379.00
100.00% 2010 年 08 月
< br> 663.00 is
heavy truck crankshaft production line has
17,049.00
17,049.00
8,584.25
17,175.56
100.74% in February 2011
0.00 Not applicable No
Weichai heavy truck crankshaft production line has
14,876.00
14,876.00
7,262.30
14,911.94
100.24% 2010 年 11 月
526.00 if
Xichai heavy truck crankshaft production line has
19,084.00 < br>
19,084.00
10,327.62
19,084.00
100.00% 2011 年 02 月
0.00 NA has committed to invest
Subtotal -61,388.0061,388.0026,096.0461,550.501,189.00
super heavy-duty raised funds into the engine crankshaft forging production project has
19,224.47
19,224.47
16,435.92
17,512.82
91.10% 2012 年 01 月
0.00
not apply to any repayment of bank loans (if any) < br>
-
-
-
-
-
supplement working capital (if any)
-
-
-
-
-
raise funds to invest in super Subtotal -19,224.4719,224.4716,435.9217 , 512.820.00
Total -80,612.4780,612.4742,531.9679,063.321,189.00
does not meet the schedule or the expected benefits and the reasons (by project)
not
feasibility for major changes in the information note no
raised funds over the amount, purpose and use of progress
company for raising over funds totaling 192,244,650.00 yuan. In order to improve efficiency in the use of funds raised, in October 2009, the company's first session of the eleventh meeting of the Board considered and approved, the company used funds raised in excess of this 15,000 million invested in the construction of heavy-duty forged crankshaft production line.
To speed up the progress of the project, in October 2010, the company's first session of the Eighteenth Meeting of the Board considered and approved, the company will raise funds over the remaining total of 42,244,650.00 Yuan to continue into the heavy-duty engine crankshaft forging production line project. As of December 31, 2010 raised funds over the progress of project implementation in accordance with.
place to raise funds to implement investment projects do not apply to change
investment project to raise funds adjust the situation does not
raise funds for investment projects and the replacement of pre-investment situation did not raise this issue for
capital investment and replacement investment projects in advance for
case with idle temporarily raise funds add liquidity situation
status in September 2009, the company's first session of the tenth meeting of the Board considered and approved, the company raised capital by 8,000 million idle temporarily add liquidity, the company in 2010 February to return the part of the funds to raise funds account.
2010 年 2 months, the company's first session of the thirteenth meeting of the Board considered and approved, the Company continued to use the idle time being to raise funds to add 8,000 million flows funds, the company in August 2010 to return to this part of the capital account to raise funds.
project appears to raise the amount of fund balances and the reasons do not apply
yet Use of proceeds used and destination purposes: to raise funds unused balance of 1,549.15 million, is scheduled to put into heavy-duty engine crankshaft forging production line. to go: the remaining proceeds deposited in the special account to raise funds.
raised use and disclosure of financial problems or other circumstances at the end of 12 by 2010, the company raised the tender part of the actual total investment exceeds the total investment of 1.625 million yuan pledge, the company was in January 2011
to excess account from its own funds to raise funds to return to the account.
change table of investment projects to raise funds for
√ not applicable
6.6 cases of non-fund-raising project
< br> applicable √ not applicable
6.7 Board of Directors of the company's accounting policies, accounting estimates or material accounting errors in the causes and effects that
√ applicable Not applicable reporting period, the company holding child Wendeng Hengrun Forging Co., Ltd. company to more accurately reflect the depreciation of fixed assets Hengrun forging conditions and expected residual value, and the Secretary with the listed companies
consistent residual value of fixed assets, the Board resolution from 2010 effect on Jan. 1 the net residual value of fixed assets from 10% to 5% change. The changes in accounting estimates applied prospectively, the year of 2010 to reduce the net profit or loss of RMB 290,732.25.
6.8 The Board of Certified Public Accountants Tianjian Certified Public Accountants issued under the standard unqualified audit report (Tianjian trial [2011] 186), the company in 2010 net profit attributable to shareholders was RMB 221,658,623.99, plus retained earnings 219,055,865.46 per year , minus the 2010 net profit by 10% of the parent company statutory surplus reserve 17,753,414.88 million, minus the 2009 profit distribution cash dividends 16,800,000.00 dollars, the 2010 year-end profits available for distribution to shareholders for the
406,161,074.57 element.
Company intends to 2010 the total share capital of 240,000,000 shares of the end as the base to the way of equity shares to all shareholders for every 10 Shares of 7 shares; to undistributed profits to send 3 shares for every 10 shares for every 10 shares cash dividends of RMB 1.00 (tax included).
the plan still need to submit the Annual General Meeting approved the company in 2010.
company cash dividends in the past three years Table
Unit: RMB
dividends attributable to the annual consolidated statements of shareholders of listed companies accounted for consolidated net profit attributable to shareholders of listed companies in the ratio of net annual cash dividend
the amount of dividends Available for sale financial assets Gains (losses) less the amount of
: Available for sale financial assets arising from pre-tax impact of
period recognized in other comprehensive income into net profit
Subtotal
2. Cash flow hedging instrument Gains (or loss) amount
Less: cash flow hedging instruments
generated pre-tax impact of gains recognized in other comprehensive loss into net profit < br>
into the amount of the hedged item adjustments for the initial recognition
Subtotal
4. Internal control self-assessment report is true, objective reflection of the company's internal control system of the construction and operation. Owner of the invested capital
2. Surplus reserves
2. General risk reserve
3. Capital reserves
(or equity)
2. Other
(f) Special reserve
1. Current extraction
2. Owner of the invested capital
2. Surplus reserves
2. General risk reserve
3. Capital reserves
(or equity)
2. Other
(f) Special reserve
1. Current extraction
2.
