News Center
Enterprises are public instruments of society.
News Center
3. Company’s 2010 Annual Financial Settlement and 2011 Annual Financial Budget Report
Document No. 3 for the 2010 Annual General Meeting
Regarding the Company’s 2010 Annual Financial Settlement
Report on the 2011 Fiscal Budget
Dear Shareholders:
We now submit the Company’s 2010 Financial Final Accounts and 2011 Financial Budget to the Shareholders’ Meeting for your review and approval.
I. 2010 Fiscal Year Financial Settlement
Audited by Jingzhong Certified Public Accountants LLP, the company’s asset position and the performance of its key financial and economic indicators for the year 2010 are as follows:
(1) Company Asset Status
At the end of 2010, the company’s total assets amounted to RMB 291,238 million, comprising RMB 133,130 million in current assets and RMB 158,108 million in non-current assets. Among the non-current assets, fixed assets totaled RMB 35,862 million, long-term equity investments amounted to RMB 100,512 million, available-for-sale financial assets stood at RMB 581 million, construction-in-progress was RMB 2,096 million, and intangible assets and other assets totaled RMB 19,057 million.
At the end of 2010, the company’s total liabilities amounted to RMB 109,390 million, comprising RMB 98,333 million in current liabilities and RMB 11,057 million in non-current liabilities.
At the end of 2010, total equity amounted to RMB 181,848 million, with equity attributable to the parent company totaling RMB 172,609 million.
(II) Status of Achievement of the Company’s Key Financial and Economic Indicators
1. In 2010, operating revenue reached RMB 149,553,000, representing 105.32% of the planned target and a year-on-year increase of 7.24%.
2. In 2010, total profit reached RMB 123.56 million, representing 104.27% of the annual target and a year-on-year increase of 28.70%.
3. Net profit attributable to owners of the parent company amounted to RMB 99.81 million, representing a year-on-year increase of 26.93%.
II. 2011 Fiscal Budget
The company’s 2011 operating plan targets are as follows:
1. Sales revenue: RMB 158,100 million, representing a 5.72% increase compared with the RMB 149,553 million in sales revenue achieved in 2010;
2. Total profit: RMB 125 million, representing a 1.17% increase compared with the total profit of RMB 123.56 million achieved in 2010.
The above report is submitted for your review.
May 12, 2011