VEKEN TECHNOLOGY(SH:600152)2016-10-27 16:00Financial Performance - Net profit attributable to shareholders was CNY -67,981,938.24, a decline of 453.70% year-on-year[6] - Operating revenue for the first nine months was CNY 385,980,217.95, down 31.21% from CNY 561,125,050.03 in the same period last year[6] - The company reported a net profit of -¥82.14 million for the first nine months of 2016, a decline of 736.65% compared to a net profit of ¥12.90 million in the same period of 2015[14] - The company's net profit attributable to shareholders was -¥23,267,582.20 for Q3 2016, compared to -¥50,462.06 in the same period last year, indicating a significant decline[33] - The total comprehensive income for the first nine months was ¥9,886,768.49, a decrease from ¥30,572,640.20 year-on-year[38] Assets and Liabilities - Total assets decreased by 18.34% to CNY 1,133,777,720.16 compared to the end of the previous year[6] - Total assets as of September 30, 2016, amounted to CNY 1,430,958,291.99, a decrease from CNY 1,584,628,971.33 at the beginning of the year[29] - Total liabilities as of September 30, 2016, were CNY 459,266,358.59, down from CNY 637,639,794.13 at the beginning of the year[29] - The company's equity attributable to shareholders was CNY 971,691,933.40, an increase from CNY 946,989,177.20 at the beginning of the year[29] Cash Flow - The net cash flow from operating activities was CNY 13,255,402.24, a significant improvement from CNY -9,398,274.44 in the previous year[6] - Operating cash flow for the first nine months of 2016 was RMB 13,255,402.24, a significant improvement from a negative cash flow of RMB -9,398,274.44 in the same period last year[40] - The total cash inflow from operating activities for the third quarter was RMB 291,498,929.32, down 19.7% from RMB 363,079,515.69 year-on-year[44] Shareholder Information - The total number of shareholders was 33,651 at the end of the reporting period[11] - The largest shareholder, Weike Holdings Group, held 22.27% of shares, with 60,000,000 shares pledged[11] Investment Activities - The company established a new subsidiary, Ningbo Weike Tequo Home Textile Co., Ltd., with a registered capital of ¥20 million, in which it holds an 85% stake[15] - The company acquired 5% equity in Ningbo Weike Cotton Textile Co., Ltd. for 3.5 million RMB, increasing its stake to 75% by February 2016[16] - The company invested 145 million RMB in its subsidiary Huai'an Anxin Home Textile Co., Ltd., which is fully owned by the company[16] - The company subscribed to a private equity fund with an investment of 10 million RMB, focusing on small and medium-sized enterprises[18] Revenue and Costs - Total operating revenue for Q3 2016 was CNY 125,581,424.28, a decrease of 36.5% compared to CNY 197,947,053.35 in Q3 2015[31] - Total operating costs for Q3 2016 were CNY 153,679,427.02, down 28.4% from CNY 214,820,925.51 in Q3 2015[32] - The operating profit for Q3 2016 was -¥993,136.81, a substantial decrease from -¥23,616,496.11 in the same period last year[36] Financial Expenses - Financial expenses decreased by 43.95% to ¥12.48 million from ¥22.26 million, mainly due to reduced interest expenses from repaying bank loans[13] - The company incurred financial expenses of ¥2,184,785.78 in Q3 2016, down from ¥7,464,253.09 in the same period last year[36] Other Financial Metrics - Basic and diluted earnings per share were both CNY -0.2316, reflecting a decrease of 453.59%[7] - The weighted average return on equity decreased by 15.34 percentage points to -12.08%[7] - The company reported non-operating income and expenses totaling CNY -1,653,115.19 for the period[10]