WTECL(SH:600157)2014-10-29 16:00Financial Performance - Operating revenue decreased by 20.52% to CNY 5.81 billion for the first nine months compared to the same period last year[7]. - Net profit attributable to shareholders decreased by 14.71% to CNY 393.75 million for the first nine months compared to the same period last year[7]. - Basic earnings per share decreased by 14.70% to CNY 0.1114 for the first nine months compared to the same period last year[7]. - The weighted average return on equity decreased by 1.36 percentage points to 3.95% compared to the previous year[7]. - Total operating revenue for Q3 2014 was CNY 1,816,619,277.88, a decrease of 38.0% compared to CNY 2,926,527,636.92 in Q3 2013[33]. - Net profit for Q3 2014 was CNY 41,997,308.98, a decline of 77.9% compared to CNY 189,325,019.31 in Q3 2013[33]. - The total comprehensive income for Q3 2014 was CNY 33,252,746.98, a decrease of 82.5% compared to CNY 190,280,790.06 in Q3 2013[33]. - The company reported a total comprehensive income of CNY -20,372,812.32 for Q3 2014, compared to CNY 51,075,320.23 in Q3 2013[35]. Cash Flow - Net cash flow from operating activities increased by 21.69% to CNY 1.32 billion for the first nine months compared to the same period last year[7]. - Cash flow from operating activities for the first nine months of 2014 was CNY 1,322,341,065.21, an increase of 21.7% from CNY 1,086,634,208.86 in the previous year[38]. - Operating cash inflow for the first nine months of 2014 was CNY 549,237,133.15, a decrease of 11.25% compared to CNY 618,942,512.75 in the same period last year[41]. - Net cash flow from operating activities was CNY 407,423,748.70, down 9.5% from CNY 450,321,204.13 year-on-year[41]. - Cash inflow from investment activities totaled CNY 434,853,185.00, significantly lower than CNY 1,070,504,841.53 in the previous year[41]. - Net cash flow from investment activities was negative at CNY -1,546,275,658.00, compared to a positive CNY 611,395,326.77 last year[41]. - Total cash inflow from financing activities was CNY 21,827,048,106.41, up 49.5% from CNY 14,592,867,866.67 in the same period last year[39]. - Cash inflow from financing activities increased to CNY 8,275,648,000.00, up from CNY 7,073,200,000.00 year-on-year, representing a growth of 17.0%[41]. - Net cash flow from financing activities was CNY 649,300,785.43, a decrease of 7.5% compared to CNY 702,161,428.35 in the same period last year[41]. Assets and Liabilities - Total assets increased by 3.46% to CNY 49.26 billion compared to the end of the previous year[7]. - The company's total liabilities increased by 34.82% to CNY 6,875,067,820.31, primarily due to the reclassification of long-term liabilities[13]. - The company's current assets decreased to CNY 11.43 billion from CNY 14.00 billion at the beginning of the year[28]. - The company's total liabilities increased to CNY 35.61 billion from CNY 34.19 billion at the beginning of the year[29]. - The company's equity attributable to shareholders rose to CNY 10.02 billion from CNY 9.83 billion at the beginning of the year[29]. - The company's long-term borrowings decreased by 55.16% to CNY 1,948,500,000.00, due to repayments and reclassification of long-term borrowings[13]. - The company's long-term investments increased to CNY 15,082,935,539.66 from CNY 13,402,935,539.66 at the beginning of the year, indicating a growth of 12.5%[31]. - The company reported a significant increase in other receivables, which rose to CNY 15,937,335,062.14 from CNY 12,800,359,452.55 at the beginning of the year, marking a growth of 24.5%[31]. Shareholder Information - The total number of shareholders reached 192,480 by the end of the reporting period[11]. - The largest shareholder, Yongtai Holdings Group Co., Ltd., holds 40.88% of the shares, totaling 1,445,309,348 shares[11]. - The controlling shareholder, Yongtai Holding Group, committed to a three-year lock-up period for shares acquired in the non-public offering, with no transfers or trades during the reporting period[22]. - Yongtai Holding Group guaranteed the net profits of Shanxi Kangwei Group for 2012, 2013, and 2014, with actual profits of CNY 265.80 million, CNY 571.97 million, and CNY 671.88 million respectively, and compensated CNY 219.88 million for 2013[22]. Operational Highlights - The company reported a total coal production of 8.3053 million tons and sales of 7.7904 million tons for the first nine months of 2014[21]. - The company achieved an investment income of CNY 99,142,920.86, a 171.22% increase from CNY 36,553,982.03, due to gains from equity investments[15]. - The company reported a non-recurring gain of CNY 14.60 million from the disposal of equity investments during the reporting period[9]. - Government subsidies recognized during the reporting period amounted to CNY 300,000[9]. - The company reported a significant decrease in prepaid expenses by 37.24%, from CNY 1,682,836,716.90 to CNY 1,056,104,750.34, primarily due to the arrival of previously prepaid goods[13]. - The company's operating costs decreased by 31.29% to CNY 3,462,922,206.53 compared to CNY 5,039,947,003.40 in the same period last year, attributed to strict cost control measures[14]. - Financial expenses increased by 87.83% to CNY 1,686,094,188.78, driven by a larger financing scale leading to higher interest expenses[15]. Accounting and Regulatory - The company implemented new accounting standards from July 1, 2014, which did not affect the financial statements for 2013 or the current period[25]. - The company has no warnings regarding potential losses or significant changes in net profit compared to the same period last year[23]. - The company plans to issue non-publicly offered shares, with the application materials submitted to the China Securities Regulatory Commission for review[18]. - The company has issued a total of CNY 31.28 billion in non-public debt financing tools, with the latest issuance of CNY 14.28 billion completed on September 23, 2014[19].