NUG(SH:600051)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders increased by 2,473.83% to CNY 95,780,582.35 for the year-to-date period[9] - Operating revenue rose by 67.79% to CNY 3,055,560,546.15 for the year-to-date period[9] - Basic and diluted earnings per share increased by 2,443.09% to CNY 0.3128[10] - The cumulative net profit attributable to shareholders for the year is expected to increase by 80% to 130% compared to the previous year's net profit of 60.03 million RMB, primarily due to increased sales revenue from the Tianhe Garden Phase I residential project developed by subsidiary Wenzhou Union Investment Property Co., Ltd.[29] - The company reported a significant increase in income tax expenses, rising by 218.51% to CNY 113,630,135.01 from CNY 35,675,708.89, due to higher taxable income[22] Assets and Liabilities - Total assets decreased by 5.14% to CNY 7,332,373,162.15 compared to the end of the previous year[9] - The total liabilities decreased from 5.85 billion RMB at the beginning of the year to 5.24 billion RMB at the end of the period, a decline of approximately 10.43%[37] - The company's total equity increased from 1.88 billion RMB at the beginning of the year to 2.09 billion RMB at the end of the period, an increase of about 10.93%[37] - Long-term borrowings rose by 53.91% to CNY 540,159,330.00 from CNY 350,950,000.00, mainly due to increased bank loans by a subsidiary[19] - The company's total liabilities decreased, with accounts payable down by 47.42% to CNY 366,580,118.25 from CNY 697,229,268.81[20] Cash Flow - Net cash flow from operating activities improved, with a reduction in outflow from CNY -373,855,407.93 to CNY -150,370,367.43[9] - The net cash flow from operating activities for the first nine months of 2014 was -18,813,568.80 RMB, an improvement from -305,704,252.91 RMB in the same period last year[57] - Total cash inflow from operating activities reached 761,380,936.12 RMB, compared to 414,602,823.41 RMB in the previous year, indicating a year-over-year increase of approximately 83.5%[57] - Cash outflow from operating activities was 780,194,504.92 RMB, up from 720,307,076.32 RMB, reflecting a 8.5% increase year-over-year[57] - The company reported a total of 27,390,774.43 RMB in cash received from sales of goods and services, a decrease from 58,000,639.93 RMB in the same period last year[57] Shareholder Information - The total number of shareholders reached 36,486 by the end of the reporting period[12] - The largest shareholder, Zhejiang Rongsheng Holdings Group Co., Ltd., holds 29.08% of the shares[13] - There were no significant changes in the number of preferred shareholders or their holdings[14] Operating Costs and Expenses - The company reported a 44.21% increase in operating costs, totaling CNY 2,297,354,348.83, driven by higher costs associated with increased sales[20] - The company experienced a 569.27% increase in operating taxes and surcharges, amounting to CNY 231,341,219.18, linked to increased sales revenue[21] - The company incurred operating costs of 2,964,608.91 yuan in Q3 2014, which is an increase from 2,646,102.79 yuan in Q3 2013[49] - Operating costs for the third quarter were CNY 880,545,751.94, up from CNY 615,037,738.41, representing a 43% increase[45] Inventory and Receivables - Accounts receivable decreased by 70.38% to CNY 49,651,965.70 from CNY 167,617,059.44, primarily due to a reduction in foreign receivables by a subsidiary[17] - The company's inventory decreased from 5.07 billion RMB at the beginning of the year to 4.76 billion RMB at the end of the period, a decrease of approximately 6.09%[35] - Prepayments increased significantly by 186.08% to CNY 113,835,427.56, attributed to increased domestic procurement prepayments by a subsidiary[18] Financial Position - The company's cash and cash equivalents decreased from 565.90 million RMB at the beginning of the year to 487.83 million RMB at the end of the period, reflecting a decline of approximately 13.78%[35] - The company's short-term borrowings decreased from 1.27 billion RMB at the beginning of the year to 1.11 billion RMB at the end of the period, a reduction of about 12.43%[36] - The company’s long-term borrowings increased from 350.95 million RMB at the beginning of the year to 540.16 million RMB at the end of the period, an increase of about 53.93%[36] Other Financial Activities - The company received government subsidies amounting to CNY 16,456,166.50 during the reporting period[11] - The company completed a share transfer agreement for a subsidiary, resulting in the removal of the subsidiary from the consolidated financial statements[24] - The company reported investment income of 3,933,104.87 yuan for Q3 2014, down from 20,987,946.37 yuan in Q3 2013[50] - The total cash inflow from financing activities was 1,702,541,729.51 yuan, while cash outflow was 1,650,023,725.17 yuan, resulting in a net cash inflow of 52,518,004.34 yuan[54]