无锡威孚高科技集团股份有限公司2013年度报告摘要 Stock Code: 000581, 200581 Notice No.: 2014-008 Short Form of the Stock: Weifu High-Tech, Su Weifu-B
WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.
SUMMARY OF ANNUAL REPORT 2013
1. Important Notice
The summary is abstract from full-text of annual report, for more details information, investors should found in the full-text of annual report that published on website of Shenzhen Stock Exchange and other website appointed by CSRC.
Company Profile
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|Short form of the stock|Weifu High-Tech、 Su Weifu-B|Stock code||000581, 200581|
|Stock exchange for listing|Shenzhen Stock Exchange||||
|Person/Way to contact|Secretary of the Board||Rep. of security affairs||
|Name|Zhou Weixing||Yan Guohong||
|Tel.|0510-82719579||0510-82719579||
|Fax.|0510-82751025||0510-82751025||
|E-mail|wfjt@public1.wx.js.cn||wfjt@public1.wx.js.cn||

2. Main financial data and changes of shareholders
(1) Main financial data
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error correction or not
□Yes√No
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|-|-|-|-|-|
||||Changes over last year||
||2013|2012||2011|
||||(%)||
|Operating income (RMB)|5,589,307,689.55|5,015,283,418.71|11.45%|5,898,113,089.49|
|Net profit attributable to shareholders|1,108,221,450.83|889,326,939.46|||
||||24.61%|1,204,617,075.56|
|of the listed company(RMB)|||||
|Net profit attributable to shareholders|||||
|of the listed company after deducting|1,013,085,655.87|852,679,760.32|18.81%|1,166,866,705.09|
|non-recurring gains and losses(RMB)|||||
|Net cash flow arising from operating|803,958,123.13|1,165,759,218.46|||
||||-31.04%|326,269,185.07|
|activities(RMB)|||||
|Basic earnings per share (RMB/Share)|1.09|0.9|21.11%|1.42|
|Diluted earnings per share|1.09|0.9|||
||||21.11%|1.42|
|(RMB/Share)|||||
|Weighted average ROE (%)|12.12%|11.36%|0.76%|26.27%|
||||Changes over end of last||
||End of 2013|End of 2012||End of 2011|
||||year (%)||

无锡威孚高科技集团股份有限公司2013年度报告摘要
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|-|-|-|-|-|
|Total assets (RMB)|13,074,232,730.91|11,055,973,932.34|18.25%|7,929,217,436.19|
|Net assets attributable to shareholder of|9,600,765,223.81|8,655,980,755.24|||
||||10.91%|5,064,060,401.35|
|listed company (RMB)|||||

(2) Statement of shares held by top 10 shareholders
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|-|-|-|-|-|-|-|-|-|-|
|||||Total shareholders ended as the||||||
|Total shareholders in period-end|34,932|||5th trading day before annual|||43,033|||
|||||report disclosed||||||
|Particular about shares held by top ten shareholders||||||||||
||||Proportion|||Amount of||Shares pledge or frozen||
||||||Amount of|||||
|Shareholders||Nature|of shares|||restricted shares||||
||||||shares held|||Status|Amount|
||||held (%)|||held||||
|WUXI INDUSTRY DEVELOPMENTCROUP CO., LTD.||State-ownedlegal person|20%||204,059,398|118,967,998||||
|ROBERT BOSCH GMBH||Foreign legalperson|14%||142,841,400|115,260,600||||
|China Construction Bank－FullogoalTianbo Innovation Theme StockSecurities Investment Fund||Domesticnon-state-ownedlegal person|1.65%||16,800,000|||||
|BBH BOS S/A FIDELITY FD - CHINAFOCUS FD||Foreign legalperson|1.58%||16,111,179|||||
|BOCOM—Fullgoal Tianyi ValueSecurity Investment Fund||Domesticnon-state-ownedlegal person|1.46%||14,944,463|||||
|China Merchants Bank Co.,Ltd.—Fullgoal Tianhe Stable SelectedSecurities Investment Fund||Domesticnon-state-ownedlegal person|1.15%||11,778,994|||||
|CCB—Yinhua Core Value SelectedSecurities Investment Fund||Domesticnon-state-ownedlegal person|1.08%||11,026,311|||||
|NCI—Bonus—Individual Bonus-018L-FH002 Shen||Domesticnon-state-ownedlegal person|0.86%||8,723,489|||||
|National Social Security Fund-108portfolio||Domesticnon-state-ownedlegal person|0.71%||7,249,714|||||
|Zhongrong International Trust – HuixinNo.1 Securities Investment Single FundTrust||Domesticnon-state-ownedlegal person|0.7%||7,153,378|||||
||||Among the top ten shareholders, the Company knew there has no|||||||
||||associated relationship between Wuxi Industry Development Croup|||||||
||||Co., Ltd., the first largest shareholder of the Company, and other|||||||
||||shareholders; and they do not belong to the consistent actionist|||||||
|Explanation on associated relationship among the aforesaid|||regulated by the Management Measure of Information Disclosure on|||||||
|shareholders|||Change of Shareholding for Listed Company. Fullgoal Tianbo|||||||
||||Innovation Theme Stock Securities Investment Fund, Fullgoal Tianyi|||||||
||||Value Security Investment Fund and Fullgoal Tianhe Stable Selected|||||||
||||Securities Investment Fund shares same fund manager –Fullgoal Fund|||||||
||||Management Co., Ltd.|||||||

无锡威孚高科技集团股份有限公司2013年度报告摘要 (3) Property right and controlling relationships between the actual controllers of the Company and the Company is as follows:
State-owned Assets Supervision& Administration Commission of Wuxi Municipality of
Jiangsu Province
100%
Wuxi Industry Development Croup Co., Ltd.
20%
Weifu High-Technology Group Co., Ltd.
3. Discussion and analysis by the Management Team
(I)General introduction
production and marketing on national auto market during 2013 achieved 22.1168 million and 21.9841 million respectively, announced by China Association of Automobile Manufactures, respectively increased by14.76% and13.87% year-on-year, including 18.0852 million and 17.9289 million respectively for production and marketing of passenger cars, respectively securing16.50% and15.71% year-on-year growth rate, and 4.0316 million and 4.0552 million of commercial vehicles with growth rate of7.56% and6.40% year-on-yera respectively.
Thanks to the development of automobile industry and increase in commercial vehicles production and sales, heavy truck in particular, during the reporting period, the Company secured development direction, focusing on the target, centralized by benefits, and seize the market opportunity under the precondition of improving quality, efficiency and strictly contolling the risks and costs. Producs from three major business units of the Company stability increse in production and sales, shares in major markets improved substantially, product mix gains a further optimized and operation performance of the Company growth steadily.
Operation revenue of RMB 5.589 billion for the reporting period, up11.45% on a year-on-year basis; net profit attributable to parent company of RMB 1.108 billion, an increase of24.61% from the year-ago period; total assets of RMB 13.074 billion, a18.25% up year-on-year and equity attributable to owners of parent company of RMB 9,600 million, up10.91% on a year-on-year basis.
(II)Major works
1. System and process optimization, implementation pre-control of risk management
Organize and judge the responsibility, system and process of vary functional departments, established an integrative process management model and risk management mechanism, prevent and control financial risks through process managment;
2. Promote lean accounting idea and improve economic operation quality
Carry out lean accounting management and standard cost management, implement value strean analysis and cost
无锡威孚高科技集团股份有限公司2013年度报告摘要 variance analysis, strengthen project cost control and improve the financial management assures the maximization of revenue for the Group;
3. Deepening quality managment, further enhance the ability in quality control
By mode of cross check, completed the annual examination plan of internal quality management system in three aspect of customer oriented process, support process and management process. Exercise on-site assessment for the service condition of quality tools, assessment coverage up to100%. By vary means of value strean analysis and KPI Tree decomposition, promoting the preparation of SMED standard documents in vary divisions, made the bottleneck process management implemented efficency in every divisions.
4. Orderly speed up theR&D platform and ability construction
Engineering Institute Technology Center: came to one of the provincial engineering center in first 26 enterprises conferred by NDRC of Jiangsu Province in 2013. Increase a series of high-end test capacity as SCR pump nozzle test, 3D vibration integration and test with condition variation, enhanced in the technique development test ability greatly.R&D Center of Exhaust After Treatment System: with the goal of building the first-classR&D Center, further to perfected test capacity and established and improved testing process and standards. Complete research cooperation platform and promote construction for the key laboratory. SupervhargerR&D Center: carrying out works by focusing on test capacity construction,R&D project management, capacity establishment of core technology and newR&D, completing initially the building of turbine dynamometer position, debug and accepte the axis orbit test system and test system of impeller natrual frequency.
5. Implemented Industrial Layout Adjustment, steadily promote infrastucture
Temporary facilities transfer of Weifu Industry Park were completed by highly design-driven and well-through planning; municipal works of industry park finished the pre-buried of road construction and drain pipe for storm sewage, and body structure of Weifu industry park will top off at the end of 2013.
6. Accelerate the information construction, strengthengroup’s core competence
To build up a business platform with priority of―gets through industrial value chain and achieve integration of finance andbusiness‖, focusing on process optimization and system integration, establish SAP template and system management standards for group managment.
(III) Industry Competition Structure and Growing Trend
Commercial vehicles market shows a recovery growth in 2013 after two-year earlier adjustment; affected by national macroeconomic enviornment, policy regulations and the process of industrialization, steady progress of urbanization in particular, market of commercial vehicles remain stable as a whole;
With the promotion and execution of National IV Emission Standard on a step-by-step basis, the technical capability of core components for commercial vehicles will be effectively increased, which is beneficial to the fast development of common rail system and aftertreatment products, the industry will face a differentiation.
(IV) Operation plan for year of 2014
More intense competition and challenge emerged forChina’s automotive industry in year of 2014. In the
无锡威孚高科技集团股份有限公司2013年度报告摘要 presentce of update-schedule and new changes in automotive market, the Company, continues to focus on the goals of creating a leader with core components of the automotive (energetics) concerned in China, decision-making scientifically with precision management to promote the industrial restructuring; accelerate product structure optimization, rapidly manufacruring products and developing market advantage in satge of National IV, and made breakthroughs in strategic restructuring. Making efforts to improve the quality and effectiveness of economic gains, execute stable development of the enterprise and continuously update competitiveness of the Goup.
(1) Seize opportunity to rapid up development of industrial restructuring focus on the market. Strongly encourage the industry of exhaust after treatment, make steady progress for fuel system industry and rapidly promote the industry of supercharger.
(2) Continously improve maangement of quality, increase quality guarantee and ability to control in process continually.
(3) Perfect risk control system, strengthen the financial controlling. Reinforce budget control, respond quickly in changes of the opeation enviornment through well-defined costs structure and break-even point, guarantee a continously improvement in economic benefit for the Group.
(4) Carry out construction of major projects of the Group, adjust industrial layout and improve management standards. Guarantee a smooth implementation of relocation for Weifu Industry Park; trying to complete the framework construction of the main parts of a tactory houses of Weifu Leader Project; guarantee officially production of the Phase I project of ERP System as well as the start of Phase II project.
(5) Implement core talent strategy plans, continous enhance efficiency of the staff and quality. Completes the term program of human resources, perfect core talent construction system of the Gourp.
(V) Risk for year of 2014
The macroeconomic enviornment in and out of China, automotive industry policy and execution of the National IV Emmision Standards will makes a large impact on development of the Company.
4. Relevant items involving financial report
(1)Explanation on changes of accounting policy, accounting estimation and settlement method compared with the lastyear’s financial report
Compared with lastyear’s financial report, accounting policy, accounting estimation and settlement method has no changes.
(2)Major accounting errors within reporting period that needs retrospective restatement
No major accounting errors correction occurred in reporting period.
(3) Compare with lastyear’s financial report; explain changes in consolidationstatement’s scope
One enterprise included in the consolidation scope from a year earlier.
According to the equity transfer agreement singed between the Company and Autocam Corporation, the one
无锡威孚高科技集团股份有限公司2013年度报告摘要 percent equity of Weifu Autocam, hold by Autocam Corporation, was transferred to the Company; capital contributed by the Company accounted for 51 percent of the register capital of Weifu Autocam, thus comes to the controlling subsidiary of the Company. Weifu Autocam included in consolidation financial scope of the Company since being subsidiary of the Company.
(4)Explanation of the Board of Directors and Supervisory Committee on the “Qualified Opinion” of the report made by the CPAs
Not applicable
Board of Director of
WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. 15 April 2014