Abstract of the 2013 Annual Report of Wuxi Little Swan Company Limited
Stock code: 000418, 200418 Stock abbreviation: XTEA, XTEB Announcement No.: 2014-03
Wuxi Little Swan Company Limited
Abstract of the 2013 Annual Report
1. Important reminders
This abstract is based on the full text of the annual report. For more details, investors are suggested to read the full text disclosed at
the same time with this abstract on the website of Shenzhen Stock Exchange or any other website designated by CSRC.
Company profile:
Stock abbreviation XTEA, XTEB Stock code 000418, 200418
Stock exchange listed with Shenzhen Stock Exchange
For contact Company Secretary Securities Affairs Representative
Name Ms. Zhou Sixiu Ms. Tian Lin
Tel. 0510-81082320 0510-81082377
Fax 0510-83720879 0510-83720879
E-mail IR_littleswan@littleswan.com.cn IR_littleswan@littleswan.com.cn
2. Financial highlights and change of shareholders
（1）Financial highlights
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
Increase or decrease
2013 2012 of this year over last 2011
year (%)
Operating revenue (RMB Yuan) 8,727,956,044.37 6,899,863,926.81 26.49% 10,975,621,704.52
Net profit attributable to shareholders
413,350,079.54 338,387,680.99 22.15% 453,327,963.81
of the Company (RMB Yuan)
Net profit attributable to shareholders
of the Company after extraordinary 310,261,096.43 341,978,755.36 -9.27% 364,358,220.01
gains and losses (RMB Yuan)
Net cash flows from operating
904,882,101.01 344,757,698.15 162.47% 242,531,309.07
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.65 0.54 20.37% 0.72
Diluted EPS (RMB Yuan/share) 0.65 0.54 20.37% 0.72
Abstract of the 2013 Annual Report of Wuxi Little Swan Company Limited
Weighted average ROE (%) 10.88% 9.59% 1.29% 13.99%
Increase or decrease
As at 31 Dec. 2013 As at 31 Dec. 2012 of this year-end than As at 31 Dec. 2011
last year-end (%)
Total assets (RMB Yuan) 9,222,527,380.74 8,403,705,443.29 9.74% 9,145,185,476.94
Net assets attributable to shareholders
3,908,897,654.74 3,686,210,495.87 6.04% 3,441,144,937.45
of the Company (RMB Yuan)
（2） Shareholdings of the top 10 shareholders
Total number of shareholders at
Total number of shareholders at the end of the fifth trading day
28,907 23,744
the end of the reporting period before the disclosure date of the
annual report
Shareholdings of the top 10 shareholders
Shareholding Number of Pledged or frozen shares
Nature of Total shares held
Name of shareholder percentage restricted Status of Number of
shareholder at the period-end
(%) shares held shares shares
Domestic
MIDEA GROUP CO., LTD. non-state-owned 35.2% 222,661,571 0
corporation
Overseas
GAOLING FUND,L.P. 8.56% 54,151,586 0
corporation
TITONI INVESTMENTS Overseas
4.88% 30,851,714 0
DEVELOPMENT LTD. corporation
FINANCE BUREAU OF On behalf of the
3.49% 22,057,657 0
WUXI state
BOCI SECURITIES Overseas
3.35% 21,209,809 0
LIMITED corporation
GUOTAI JUNAN
Overseas
SECURITIES(HONGKONG) 2.27% 14,348,071 0
corporation
LIMITED
NATIONAL SOCIAL Domestic
SECURITY FUND non-state-owned 1.9% 12,000,000 0
PORTFOLIO 102 corporation
CHINA CONSTRUCTION
BANK－BOSHI THEME Domestic
INDUSTRIAL STOCK non-state-owned 1.42% 8,999,108 0
SECURITIES INVESTMENT corporation
FUND
Abstract of the 2013 Annual Report of Wuxi Little Swan Company Limited
ICBC－CHINA
UNIVERSAL Domestic
EQUILIBRIUM GROWTH non-state-owned 1.26% 8,000,791 0
STOCK SECURITIES corporation
INVESTMENT FUND
NATIONAL SOCIAL Domestic
SECURITY FUND non-state-owned 1.14% 7,180,101 0
PORTFOLIO 108 corporation
Explanation on associated relationship or persons MIDEA GROUP CO., LTD. became the new controlling shareholder of the
acting in concert among the above-mentioned Company after GD MIDEA HOLDING CO., LTD. It and TITONI
shareholders INVESTMENTS DEVELOPMENT LTD. are parties acting in concert.
Shareholders taking part in margin financing and
Inapplicable
securities lending (if any)
（3）Relation between the Company and its actual controller in the form of diagram
He Xiangjian Lu Deyan
94.55% 5.45%
Midea Holding Co., Ltd.
35.49%
Midea Group Co., Ltd.
100%
Midea Electric Investment (BVI) Limited
100% 35.20%
Titoni Investments Development Ltd.
4.88%
Wuxi Little Swan Co., Ltd.
Abstract of the 2013 Annual Report of Wuxi Little Swan Company Limited
3. Discussion and analysis by the management
2013 marked a year of adjustment and change for the household appliance industry of China. Household
appliance makers were affected to varying degrees by factors such as industrial structure upgrading, sale forms
innovation, withdrawal of stimulus policies, implementation of new energy efficiency standards and uncertainties
in the real estate market. 2013 saw recovery of the washing machine industry as a whole, but with differentiation
between the domestic and foreign markets. In the domestic market, consumption of washing machines was
upgrading noticeably, with the proportion of middle and high-end products on the rise; boosted by factors such as
product structure optimization, rapid development of e-commerce and low prices of raw materials, the domestic
market of washing machines showed a trend of growth. As for the foreign market, affected by economic and
political factors, as well as change in the competition structure, export of washing machines of China was weak,
showing a declining trend in general.
In the reporting period, closely adhering to the strategic axis of “leading products, efficiency-driven and global
operation”, the Company focused on changes in the industry, improved products, and kept pushing forward and
deepening operation transformation to ensure maximum earnings under the optimum business scale. In 2013, the
Company’s efforts in transformation produced initial results, with recovery YoY growth of 53.03% in domestic
sales. Overseas sales dropped by 17.70% on the year-on-year basis due to the overall decline of export and the
Company’s move to adjust its product structure, but with increased profitability. For 2013, the Company achieved
sales revenue of RMB 8.728 billion and net profit attributable to the Company (without subsidiaries) of RMB 413
million.
In 2014, after withdrawal of the Consumption Stimulus Policies, the household appliance industry will return to
market-oriented operation. Product upgrading, technological innovation and efficiency increase will become the
main development means of the sustainable development in the washing machine industry. The execution of the
new energy efficiency standards will boost the further acceleration of the optimization and integration of the
whole industry. The intelligent home appliances as well as the application of the mobile internet will gain
increasing attention. The development of the online sales and the urbanization progress will bring new market
opportunities for the industry. Meanwhile, the regulation of the real estate market and the upheaval of the
international political situation will also bring uncertainties to the whole industry.
In 2014, the Company will continue to center on the core business—the washing machine business, make further
transformation, center on the two cores—the enhancing of the product power as well as the enhancing of the
operation efficiency, and regard the consumers as the center to continuously improve the competitiveness of the
products. It will also strengthen its competitiveness in the markets at home and abroad. Meanwhile, it will
intensify the execution of the performance-oriented mechanism and improve the organizational operation
efficiency. It will focus on the following: 1. regard the consumers as the center and make good products; 2.
strengthen the rigid quality, and create the touching quality; 3. insist on the double brands operation and guarantee
the balanced improvement of scale and profits; and 4. enlarge the investment of the e-commerce channels and to
proactively embrace the opportunities and the challenges.
4. Matters related to financial reporting
(1) Explain change of the accounting policy, accounting estimate and measurement methods as compared
with the financial reporting of last year
The accounting policy, accounting estimate and measurement methods remained the same as compared with the financial reporting
of last year.
(2) Explain retrospective restatement due to correction of significant accounting errors in the reporting
period
N/A
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Abstract of the 2013 Annual Report of Wuxi Little Swan Company Limited
(3) Explain change of the consolidation scope as compared with the financial reporting of last year
One entity was deconsolidated for the current year as compared with last year. Subsidiary Wuxi Little Swan Drive
& Control Technology Development Co., Ltd. dissolved and canceled its registration. It has thus been excluded
from the consolidated financial statement scope since 17 Dec. 2013.
(4) Explanation of the Board of Directors and the Supervisory Committee concerning the “non-standard
audit report” issued by the CPAs firm for the reporting period
Inapplicable
Wuxi Little Swan Company Limited
Legal representative: Mr. Fang Hongbo
7 March 2014
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