FLDT(SH:600228)2016-10-28 16:00Financial Performance - Operating revenue for the first nine months was CNY 302,419,508.47, down 29.25% year-on-year[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 23,740,003.97, compared to a loss of CNY 14,630,378.29 in the same period last year[6] - The weighted average return on net assets was -50.86%, compared to -19.88% in the previous year[6] - Basic and diluted earnings per share were both -CNY 0.10, compared to -CNY 0.06 in the same period last year[6] - The net loss for Q3 2016 was CNY 10,562,774.47, compared to a net loss of CNY 8,919,508.51 in Q3 2015, indicating a worsening of approximately 18%[28] - The company's net profit for Q3 2016 was -10,562,774.47 RMB, compared to -9,188,412.37 RMB in the same period last year, indicating a decline of approximately 15%[29] - The company's total comprehensive income for Q3 2016 was -10,562,774.47 RMB, compared to -9,188,412.37 RMB in Q3 2015, showing a decline of approximately 15%[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 483,510,989.37, a decrease of 5.74% compared to the end of the previous year[6] - The company's current liabilities totaled CNY 333,029,006.42, slightly down from CNY 335,022,738.08 at the beginning of the year[24] - The total liabilities of the company were CNY 368,423,253.49, compared to CNY 371,016,985.15 at the start of the year, indicating a reduction in overall debt[24] - The company's total equity as of September 30, 2016, was negative CNY 13,976,728.49, compared to negative CNY 771,236.31 at the beginning of the year, indicating a significant decline in equity[26] - Accounts receivable increased by 101.94% to ¥23,648,893.53 due to unsettled payments this period[12] - Inventory decreased by 38.62% to ¥13,238,085.49 due to reduced stock levels[12] - The total equity attributable to shareholders decreased to CNY 36,573,605.84 from CNY 58,544,761.16, a decline of approximately 37.5%[24] Cash Flow - The net cash flow from operating activities was CNY 1,499,426.70, a significant decrease of 97.72% compared to CNY 65,755,348.30 in the previous year[6] - Cash flow from operating activities for the first nine months of 2016 was 1,499,426.70 RMB, significantly lower than 65,755,348.30 RMB in the same period last year, indicating a decline of over 97%[35] - The cash inflow from operating activities totaled 345,049,601.20 RMB for the first nine months of 2016, compared to 458,029,813.95 RMB in the previous year, representing a decrease of approximately 25%[35] - Cash outflow for purchasing goods and services was 1,140,781.42, significantly higher than 179,300.80 in the previous year[37] - The company received government subsidies amounting to CNY 52,596.00 during the reporting period[8] Management and Strategic Decisions - The company terminated the equity transfer agreement for 85.40% of Changjiu Group due to failure to reach consensus with the buyer[13][14] - The company attempted to publicly transfer major assets with a minimum valuation of ¥54.34 million but failed to attract any bidders[16][17] - The board decided to terminate the major asset sale due to lack of interested buyers despite adjusting the sale price[19] - The company held an investor meeting to address concerns regarding the terminated asset sale and engage with stakeholders[19] - The company has committed to avoiding major asset sales until January 19, 2017, as part of its strategic planning[21] - The company reported that it does not anticipate significant changes in net profit compared to the previous year, indicating stability in its financial outlook[21] Expenses - Management expenses increased by 48.27% to ¥25,083,870.00, attributed to higher R&D costs compared to the same period last year[12] - Financial expenses decreased by 48.83% to ¥7,463,096.46 due to reduced bank loan interest payments[12] - Total operating costs for Q3 2016 were CNY 121,083,568.97, down from CNY 130,076,842.47 in the same period last year, reflecting a reduction of approximately 7%[28] - Management expenses increased to 3,882,024.18 RMB for the first nine months of 2016, up from 2,997,667.56 RMB in the previous year, marking a rise of about 30%[31] - Financial expenses for the first nine months of 2016 were 4,198,933.74 RMB, down from 5,078,185.63 RMB in the same period last year, indicating a decrease of approximately 17%[31]