Youngor(SH:600177)2014-10-30 16:00Financial Performance - Net profit attributable to shareholders increased by 48.66% year-on-year, reaching approximately CNY 1.96 billion[10]. - Operating revenue for the first nine months was approximately CNY 10.57 billion, down 8.67% from the same period last year[8]. - The gross profit from the main apparel business increased by 23.50%, contributing approximately CNY 465.86 million to net profit[10]. - The real estate development segment reported a net profit of approximately CNY 643.16 million, a decrease of 29.36% year-on-year[10]. - The investment segment saw a significant increase in net profit to approximately CNY 900.02 million, up from the previous year due to a change in accounting methods[10]. - The company achieved operating revenue of 1,057,293.85 million RMB, a decrease of 8.67% compared to the same period last year, while net profit increased by 48.66% to 196,152.61 million RMB due to changes in accounting methods and improved profitability in branded apparel[15]. - In the branded apparel segment, operating revenue was 291,456.94 million RMB, remaining stable year-on-year, with net profit increasing by 23.50% to 46,585.77 million RMB[15]. - Net profit for Q3 2014 was ¥135,139,643.86, a decline of 60.3% from ¥340,813,444.31 in Q3 2013[49]. - The net profit for the first nine months of 2014 reached ¥3,681,757,031.22, compared to ¥826,847,175.00 in the previous year, indicating a substantial growth[53]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 48.21 billion, a decrease of 0.29% compared to the end of the previous year[8]. - The total number of shareholders at the end of the reporting period was 159,762[14]. - The total liabilities decreased from ¥34,125,729,945.69 to ¥33,508,366,656.70, a reduction of about 1.8%[41]. - The company's total assets slightly decreased from ¥48,346,126,550.49 to ¥48,206,634,372.63, a decline of approximately 0.3%[41]. - The non-current liabilities increased from ¥2,554,642,822.35 to ¥3,510,457,748.33, an increase of about 37.4%[41]. - Total assets increased to ¥22,193,334,214.82 at the end of Q3 2014, up from ¥21,390,148,927.37 at the beginning of the year, representing a growth of 3.8%[46]. - Total liabilities decreased to ¥12,740,307,176.78 from ¥14,154,898,468.79 at the beginning of the year, a reduction of 10.0%[46]. - Shareholders' equity increased to ¥9,453,027,038.04 at the end of Q3 2014, up from ¥7,235,250,458.58 at the beginning of the year, indicating a growth of 30.5%[46]. Cash Flow - The net cash flow from operating activities decreased by 61.38% year-on-year, amounting to approximately CNY 1.51 billion[9]. - Cash flow from operating activities for the year-to-date period was CNY 1,506,856,367.31, a decrease of 61.4% compared to CNY 3,901,544,471.72 in the same period last year[58]. - Total cash outflow from operating activities was CNY 8,461,284,803.69, down 13.3% from CNY 9,754,664,074.34 year-on-year[58]. - Cash inflow from investment activities totaled CNY 2,650,412,175.88, a slight decrease of 3.7% compared to CNY 2,751,570,057.01 in the previous year[59]. - Net cash flow from investment activities was CNY -123,608,016.50, contrasting with a positive CNY 273,614,346.26 in the same period last year[59]. - Cash inflow from financing activities was CNY 11,823,756,570.73, down 12.5% from CNY 13,501,277,334.30 year-on-year[59]. - The ending balance of cash and cash equivalents was CNY 2,765,705,443.65, a decrease from CNY 2,840,463,727.56 at the end of the same period last year[59]. - Cash inflow from operating activities was CNY 84,116,105.80, significantly higher than CNY 19,501,924.42 in the previous year[63]. Investments - The company plans to invest 500 million RMB in the construction of the Yagor International Clothing City project, expected to start in April 2015 and be operational by June 2016, with an annual production capacity of 5 million shirts and 1 million pants[16]. - The company holds 26.04% of shares in Yagor, totaling 579,896,185 shares, with a commitment to not sell these shares through the stock exchange for ten years starting from May 16, 2009[29]. - The investment business net profit reached 90,002.30 million RMB, an increase of 89,281.64 million RMB compared to the previous year, driven by strategic investments in banks and securities[19]. - Long-term equity investments increased by 212.37% to 582,177.16 million RMB, primarily due to a change in accounting treatment for Ningbo Bank[21]. - The company’s financial assets had a market value of 489,949.59 million RMB, with an unrealized gain of 86,268.71 million RMB, and held 10.93% of Ningbo Bank[20]. Accounting Adjustments - The company has made adjustments to its financial statements in accordance with the new accounting standards, impacting long-term equity investments and available-for-sale financial assets[30]. - The company’s adjustments to long-term equity investments reflect a shift in accounting treatment for investments without control or significant influence[34]. - The company has reclassified certain financial statement items, including deferred income, in accordance with revised accounting standards[35]. - The company’s financial reporting now includes a detailed breakdown of equity items as mandated by the revised accounting standards[34]. - The company reported a total long-term equity investment adjustment of -2,986,134,218.11 CNY and a corresponding adjustment in available-for-sale financial assets of 2,986,134,218.11 CNY as of December 31, 2013[31].