On the evening of March 25, 2014, the company released its annual report. In 2013, both revenue and net profit saw a decline compared to the previous year. This performance drop was partly linked to the overall state of the diamond industry, which had experienced a slowdown. The first quarter of 2014 also showed a decline, primarily due to the seasonal impact of the Spring Festival holiday, as well as a reduction in non-recurring gains such as government subsidies. Additionally, the gross profit margin for the first quarter decreased slightly, though it is expected to stabilize during the second quarter, which is typically a peak season for infrastructure projects. The company is currently advancing several fundraising initiatives, with most of these projects nearing completion. Production is gradually ramping up, and new high-grade diamond projects, diamond wire, and diamond wheel initiatives are expected to be key drivers of future growth.
In 2013, the company reported total operating income of 524 million yuan, a 4.7% decrease from the previous year, while net profit fell by 23% to 94.26 million yuan. The domestic economic environment was not favorable that year, and the diamond industry as a whole was less vibrant. To adapt, the company focused on optimizing its core business of diamond production, adjusting its product structure, and pursuing strategic transformation. It also expanded its synthetic diamond industry chain, enhancing its overall competitiveness and ensuring long-term stable operations. By the end of 2013, the company’s total assets reached 2.51 billion yuan, an increase of 19.3% year-over-year, while its equity stood at 1.41 billion yuan, up by 4.5%. Many of its projects were progressing smoothly.
Looking ahead, the company plans to leverage the completion of several fundraising projects, which are expected to become major contributors to future earnings. It continues to focus on product innovation and market expansion, particularly in large single crystal diamonds, diamond micro powder, and diamond wire saws. These efforts aim to further refine its product portfolio and build a comprehensive industrial chain covering synthetic diamonds, equipment, large single crystals, micro powders, wires, and grinding wheels. In 2013, the high-grade synthetic diamond project with an annual output of 1.02 billion carats entered trial production, and the electroplated diamond wire project was successfully completed by the end of September. Meanwhile, the new plant of Jiaozuo Huajing Diamond Co., Ltd. was launched, and the resin diamond wire and grinding wheel project in Luoyang also made progress. The company has established four industrial bases in Zhengzhou High-tech Zone, Zhengzhou Export Processing Zone, Luoyang, and Jiaozuo, further optimizing its operational layout and positioning itself for sustained growth.
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