CITIC Wine(SH:600084)2017-10-27 16:00Financial Performance - Operating revenue increased by 51.24% to CNY 296,577,270.73 for the first nine months compared to the same period last year[6]. - Net profit attributable to shareholders was a loss of CNY 72,936,245.69 for the first nine months, compared to a loss of CNY 69,503,416.46 in the same period last year[6]. - The company’s total comprehensive loss for the first nine months of 2017 was ¥73,160,767.81, compared to ¥70,482,575.63 in the same period last year, showing a slight increase in losses[31]. - The net profit for the third quarter was a loss of ¥18,117,082.80, compared to a loss of ¥15,941,504.15 in the previous year[34]. - The company reported a significant increase in accounts receivable, rising to CNY 68,928,128.78 from CNY 46,768,370.97, which is an increase of about 47.3%[22]. Cash Flow - Net cash flow from operating activities was negative at CNY -147,883,105.25 for the first nine months[6]. - The company reported a net cash outflow from operating activities of RMB -147,883,105.25, which is a 34.60% increase in outflow compared to RMB -109,866,818.24 in the previous year[17]. - The cash flow from operating activities showed a net outflow of ¥147,883,105.25, worsening from a net outflow of ¥109,866,818.24 in the same period last year[37]. - The total cash outflow from operating activities was $318.16 million, down from $544.37 million year-over-year, suggesting improved operational efficiency[41]. Assets and Liabilities - Total assets decreased by 19.64% to CNY 2,905,225,512.40 compared to the end of the previous year[6]. - The total current liabilities decreased significantly to CNY 129,024,959.03 from CNY 781,940,482.62, indicating a reduction of about 83.5%[24]. - The total liabilities decreased to CNY 533,295,139.66 from CNY 1,184,192,697.21, showing a reduction of approximately 55.1%[24]. - The company's cash and cash equivalents decreased to CNY 847,156,097.59 from CNY 856,787,055.08 at the beginning of the year, reflecting a decline of approximately 1.9%[22]. Shareholder Information - The total number of shareholders was 92,000[11]. - The largest shareholder, CITIC Guoan Group, holds 32.72% of the shares[11]. Investment Activities - Investment activities generated a net cash inflow of RMB 756,913,518.62, a significant improvement from a net outflow of RMB -519,806,711.28 in the same period last year, primarily due to the recovery of financial products[17]. - The company reported cash inflow from investment activities of ¥918,155,468.05, compared to ¥586,327,060.79 in the previous year[38]. - The company received cash from the recovery of investments amounting to ¥900,000,000.00, an increase from ¥550,000,000.00 in the previous year[37]. Financial Restructuring - The company is undergoing a major asset restructuring, with stock trading suspended since July 10, 2017, and relevant announcements made every five trading days[17]. - The company has committed to avoiding competition with its parent company, CITIC Guoan Group, as part of its restructuring efforts[19]. - The company has not yet convened a temporary shareholders' meeting to discuss the major asset restructuring due to incomplete audit and evaluation work[18]. Earnings and Expenses - Basic and diluted earnings per share were both CNY -0.0649[7]. - The company’s investment income decreased by 49.89% to RMB 18,100,968.05, mainly due to reduced returns from financial investments[16]. - Sales expenses for Q3 2017 were ¥42,205,265.78, a decrease from ¥46,913,285.19 in Q3 2016, indicating a cost reduction strategy[30]. - The company incurred financial expenses of ¥20,714,631.79 for the first three quarters, down from ¥32,035,974.73 in the previous year[33].