VEKEN TECHNOLOGY(SH:600152)2018-10-29 16:00Financial Performance - Net profit attributable to shareholders increased by 149.57% year-on-year, reaching CNY 96,540,939.51 for the first nine months[7]. - Basic earnings per share rose by 94.87% to CNY 0.2167[7]. - The company reported a net profit of CNY 94,062,976.83 for the first nine months of 2018, a 201.28% increase compared to CNY 31,221,328.20 in the same period last year[15]. - The total profit increased by 112.31% to CNY 91,747,160.64, driven by gains from land transfers[15]. - The company’s operating profit rose by 119.23% to CNY 91,090,753.33, reflecting increased revenue from land sales[15]. - The company reported a net profit margin decline, with net profit for the first nine months of 2018 showing a downward trend compared to the previous year[41]. - Net profit for Q3 2018 reached CNY 40,103,169.15, a substantial increase from CNY 2,675,809.78 in Q3 2017[43]. - The total profit for Q3 2018 was CNY 35,258,167.51, compared to CNY 8,655,150.04 in the same quarter last year[43]. - The company reported a total comprehensive income of CNY 34,793,329.20 for Q3 2018, compared to a loss of CNY 205,498.72 in Q3 2017[44]. - Basic earnings per share for Q3 2018 were CNY 0.0918, up from CNY 0.0086 in the same quarter last year[44]. Revenue and Operating Income - Operating revenue for the first nine months was CNY 1,122,088,872.72, a slight decrease of 0.53% compared to the same period last year[7]. - Total revenue for Q3 2018 was CNY 397,969,597.91, a decrease of 4.3% compared to CNY 415,933,743.05 in Q3 2017[41]. - Year-to-date revenue for the first nine months of 2018 reached CNY 1,122,088,872.72, slightly down from CNY 1,128,063,781.20 in the same period last year[41]. - The total revenue from operating activities for the first nine months of 2018 was CNY 1,109,095,221.43, an increase from CNY 1,006,387,469.94 in the previous year[49]. Cash Flow and Liquidity - Cash flow from operating activities showed a significant negative change, amounting to CNY -97,246,780.12 for the first nine months[7]. - The cash flow from operating activities showed a net outflow of CNY 97,246,780.12, worsening from a net outflow of CNY 5,184,501.35 in the previous year[16]. - The ending cash and cash equivalents balance was $187.65 million, down from $526.36 million at the end of the previous year, reflecting a significant decline in liquidity[54]. - Cash received from the sale of investments was $1.19 billion, a notable increase compared to $119.43 million last year, highlighting successful divestitures[53]. - Cash paid for investments was $1.45 billion, a substantial rise from $16.60 million in the previous year, indicating aggressive investment strategies[53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,673,766,888.81, a decrease of 1.64% compared to the end of the previous year[7]. - The company’s total liabilities decreased by 31.27% to CNY 517,464,693.75, mainly due to increased payments for materials[14]. - Total liabilities decreased to CNY 1,205,365,109.71 from CNY 1,321,680,946.16, indicating a reduction of approximately 8.8%[35]. - Owner's equity increased to CNY 1,468,401,779.10 from CNY 1,396,620,544.70, representing an increase of about 5.2%[35]. - Accounts receivable decreased by 38.29% to CNY 402,013,644.17, attributed to the maturity of notes and increased collection of receivables[13]. Shareholder Information - The total number of shareholders at the end of the reporting period was 32,276[11]. - The largest shareholder, Weike Holdings Group, held 29.71% of the shares, with 131,011,281 shares pledged[11]. - The controlling shareholder, Vico Holdings Group Co., Ltd., plans to increase its stake in the company by acquiring between 2 million and 10 million shares within 6 months starting from February 1, 2018[25]. - The company repurchased and canceled a total of 14,429,107 shares due to unmet performance commitments from 2017, reducing the total share capital from 455,360,747 shares to 440,931,640 shares[27]. Investment Activities - The company received cash from investment income amounting to ¥16,145,327.92, an increase of 389.69% compared to the previous period[17]. - The net cash flow from investment activities was ¥84,178,515.40, a significant increase of 3,787.80% compared to the previous period[17]. - The company completed the sale of 100% equity of Ningbo Yongda Textile Co., Ltd. for ¥7.9 million, expected to bring approximately ¥1 million in profit to the consolidated financial statements[17]. - The company sold 100% equity of Weike Cotton Textile Co., Ltd. for ¥134.03 million, anticipated to generate about ¥65.5 million in profit[18]. - The company acquired 100% equity of Dongguan Lianzhi Enterprise Management Co., Ltd. for ¥110 million and Dongguan Zhongxin Enterprise Management Co., Ltd. for ¥68 million, totaling ¥178 million[20].