SMAC(SH:600073)2016-10-17 16:00Financial Performance - Operating income for the first nine months reached CNY 9,729,743,079.76, a growth of 6.46% year-on-year[7] - Net profit attributable to shareholders increased by 138.54% to CNY 258,698,612.97 for the first nine months[7] - Basic earnings per share rose by 136.64% to CNY 0.310[8] - Net profit attributable to the parent company surged by 136.73% to CNY 290,515,040.98, compared to CNY 122,719,467.68 in the previous year[14] - Net profit for the first nine months of 2016 was CNY 537,914,654.67, compared to CNY 247,399,613.69 in the same period last year, representing a significant increase[27] - Net profit for Q3 2016 reached CNY 147,603,507.50, up 38.5% from CNY 53,366,333.91 in Q3 2015[33] - The total profit for Q3 2016 was CNY 163,348,745.74, an increase of 152.1% compared to CNY 64,722,616.65 in Q3 2015[33] - The net profit attributable to shareholders of the parent company was CNY 87,561,632.28 in Q3 2016, up 83.8% from CNY 47,636,979.75 in Q3 2015[33] Cash Flow and Liquidity - Net cash flow from operating activities surged by 193.98% to CNY 679,045,156.29 for the first nine months[7] - Cash and cash equivalents increased by 30.46% to CNY 2,672,856,184.64 compared to CNY 2,048,849,727.73 in the same period last year[14] - Cash inflows from operating activities for the first nine months reached CNY 11,178,134,649.84, an increase from CNY 9,956,905,124.92 in the previous year, representing a growth of approximately 12.2%[39] - The net cash flow from operating activities for the first nine months was CNY 679,045,156.29, significantly up from CNY 230,987,000.73 in the same period last year[40] - Cash and cash equivalents at the end of the period totaled CNY 2,644,351,017.30, compared to CNY 1,940,394,221.72 at the end of the previous year, reflecting an increase of approximately 36.3%[41] - The cash inflow from sales of goods and services for the first nine months was CNY 874,654,160.44, slightly down from CNY 881,551,132.06 in the previous year[43] Assets and Liabilities - Total assets increased by 3.41% to CNY 7,951,661,814.80 compared to the end of the previous year[7] - The company reported a significant decrease in expected liabilities by 97.46%, down to CNY 2,304,541.64 from CNY 90,830,803.64[14] - Total liabilities decreased to CNY 3,947,384,545.00 from CNY 4,105,435,881.28 at the beginning of the year, indicating improved financial stability[27] - The company reported a total equity of CNY 4,004,277,269.80, up from CNY 3,584,321,237.40 at the beginning of the year, showing growth in shareholder value[27] - The company’s total assets saw a significant increase, with a notable rise in cash reserves due to improved operational cash flow[15] Shareholder Information - The total number of shareholders reached 72,870[11] - The largest shareholder, Shanghai Yimin Food Co., Ltd., holds 31.82% of the shares[11] Government Subsidies and Other Income - The company reported a government subsidy of CNY 33,378,762.85 for the first nine months, closely related to its normal business operations[9] - Non-recurring gains and losses totaled CNY 14,268,621.39 for the third quarter[10] Investment and Expansion Plans - The company plans to continue expanding its pig farming operations to sustain revenue growth in the future[16] - The company is actively pursuing the acquisition of a 50% stake in Silver Fern Farms Beef Limited, with the transaction expected to close on January 4, 2017[19] - The company has signed an agreement to transfer 84.55% of its stake in Shanghai Meilin Zhengguang and Chongqing Food Co., Ltd., which is currently inactive[19] Financial Expenses and Management - Financial expenses increased by 33.86% to CNY 41,401,453.70, attributed to higher borrowing costs and reduced interest income[14] - Management expenses for Q3 2016 were CNY 97,552,569.00, up 7.9% from CNY 91,080,584.93 in Q3 2015[33] Legal Matters - The company is involved in a legal dispute with China Merchants Bank, with a court ruling requiring repayment of a total of CNY 55 million[19]