BSU(SH:600010)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 70.91% to CNY 56.24 million for the first nine months[6] - Operating revenue for the first nine months fell by 23.40% to CNY 21.66 billion compared to the same period last year[6] - Basic earnings per share dropped by 82.50% to CNY 0.0035[8] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 73.67% to CNY 51.44 million[6] - Net profit for Q3 2014 was ¥19.27 million, down 70.7% from ¥65.59 million in the same period last year[29] - The net profit attributable to the parent company was ¥19,653,305.13, down from ¥71,702,248.35 in Q3 2013, representing a decline of approximately 72.6%[30] - The operating profit for the first nine months of 2014 was ¥210,091,972.77, down from ¥276,593,275.45 in the same period last year, indicating a decline of about 24%[34] Revenue and Expenses - Operating costs for Q3 2014 were ¥6.97 billion, a decrease of 22.5% compared to ¥8.99 billion in Q3 2013[27] - The total operating expenses for the first nine months were ¥20,704,501,070.66, down from ¥25,774,497,550.49 in the same period last year, indicating a reduction of about 19.5%[34] - Sales expenses for the quarter were ¥108,992,164.23, a decrease of 56% compared to ¥248,679,167.20 in the same period last year[34] - The financial expenses for the first nine months increased to ¥654,468,512.84, up from ¥463,228,154.11 in the previous year, marking a rise of approximately 41.2%[34] Assets and Liabilities - Total assets increased by 12.00% to CNY 98.47 billion compared to the end of the previous year[6] - The total number of shareholders reached 421,232 by the end of the reporting period[9] - The largest shareholder, Baotou Steel Group, holds 50.77% of the shares[9] - The total liabilities increased to approximately CNY 79.48 billion, up from CNY 68.80 billion, indicating a growth of 15.5%[22] - The company's total equity attributable to shareholders decreased slightly to approximately CNY 18.80 billion from CNY 18.92 billion[22] - Total liabilities rose to ¥77.65 billion, an increase of 16.2% from ¥66.86 billion year-over-year[26] Cash Flow - Net cash flow from operating activities decreased by 28.10% to CNY 3.24 billion for the first nine months[6] - The company's cash and cash equivalents increased to approximately CNY 8.13 billion from CNY 4.12 billion at the beginning of the year, reflecting a significant increase of 97.5%[20] - The company reported a decrease in cash flow from financing activities due to increased loan repayments compared to the previous year[20] - Total cash inflow from operating activities for the first nine months of 2014 was ¥26,735,676,038.97, down 19.5% from ¥33,182,319,180.97 in the same period last year[40] - The net cash flow from operating activities for the first nine months was ¥3,242,515,238.06, a decrease of approximately 28.2% from ¥4,509,985,177.68 in the previous year[38] Investments and Financing - The company is in the process of a non-public stock issuance to acquire related assets from Baotou Steel Group, currently under review by the China Securities Regulatory Commission[12] - The company issued CNY 3 billion in new bonds during the reporting period, contributing to an increase in payable bonds to CNY 7 billion from CNY 4 billion[22] - The company issued bonds worth ¥3,000,000,000.00 in Q3 2014, contributing to the financing cash inflow[41] - Cash flow from investing activities in Q3 2014 was negative at -¥2,458,241,395.69, compared to -¥8,959,798,333.22 in Q3 2013, indicating a reduced outflow[41]