CCYD(SH:600148)2015-10-26 16:00Financial Performance - Operating revenue for the first nine months decreased by 26.67% to CNY 360,160,682.58 compared to the same period last year[7]. - Net profit attributable to shareholders decreased by 87.06% to CNY 3,590,008.82 for the first nine months[7]. - Operating income decreased by CNY 1,021,077.54, a decline of 42.02%, primarily due to reduced government subsidies this period[12]. - Total operating revenue for the first nine months of 2015 was CNY 360,160,682.58, a decrease of 26.7% from CNY 491,150,925.29 in the same period of 2014[23]. - Total operating revenue for Q3 2015 was CNY 98,724,370.20, a decrease of 30.5% compared to CNY 142,012,329.98 in Q3 2014[23]. - Net profit for Q3 2015 was a loss of CNY 3,312,201.21, compared to a profit of CNY 11,973,987.84 in Q3 2014[24]. - The company reported a total profit of CNY -2,757,618.98 for Q3 2015, compared to CNY 13,714,207.58 in Q3 2014[24]. - The company’s total comprehensive income for Q3 2015 was CNY -3,312,201.21, compared to CNY 11,973,987.84 in Q3 2014[25]. - Operating profit for the first nine months was ¥9,105,270.95, down 54.5% from ¥20,021,895.75 in the same period last year[27]. - Net profit for Q3 was -¥1,166,064.98, compared to a net profit of ¥5,108,749.24 in the same period last year, representing a significant decline[29]. Cash Flow and Liquidity - Cash flow from operating activities increased by 12.84% to CNY 49,946,417.95 compared to the same period last year[7]. - The company’s cash and cash equivalents at the end of the period were CNY 121,433,017.36, up from CNY 95,264,644.47 at the beginning of the year[16]. - Cash inflow from financing activities remained stable at $20 million, unchanged from the previous year[36]. - Cash outflow from financing activities decreased to $33.76 million from $72.22 million year-over-year, indicating improved cash management[36]. - The net increase in cash and cash equivalents was -$7.21 million, an improvement from -$13.99 million in the same period last year[36]. - The ending balance of cash and cash equivalents was $47.67 million, up from $39.67 million year-over-year[36]. Assets and Liabilities - Total assets decreased by 5.69% to CNY 832,440,769.76 compared to the end of the previous year[7]. - Total current assets as of September 30, 2015, amounted to CNY 633,715,095.70, down from CNY 677,552,685.88 at the beginning of the year[16]. - Total assets as of September 30, 2015, were CNY 832,440,769.76, compared to CNY 882,662,113.79 at the beginning of the year[18]. - Total liabilities decreased from CNY 452,060,543.91 to CNY 413,222,831.15 during the reporting period[18]. - Total liabilities as of the end of Q3 2015 were CNY 276,850,295.03, a decrease from CNY 323,199,134.06 at the end of Q3 2014[21]. - The company’s total assets were CNY 588,856,083.09 at the end of Q3 2015, down from CNY 636,499,525.57 in Q3 2014[21]. Expenses and Impairments - Financial expenses decreased by 37.27% to CNY 1,129,214.17 due to reduced loan interest expenses[11]. - Asset impairment losses decreased by 81.34% to CNY 15,926,079.50 as fewer assets required impairment provisions this period[11]. - Non-operating expenses increased by CNY 509,985.64, a growth of 291.01%, mainly due to the payment of water conservancy construction fund this reporting period[12]. - Income tax expenses decreased by CNY 2,785,565.81, a reduction of 50.42%, attributed to a year-on-year decrease in company profits[12]. - Management expenses for the first nine months were ¥36,707,295.46, an increase of 4.5% compared to ¥35,123,342.28 in the same period last year[27]. Expectations and Future Outlook - The company expects net profit to decline by over 50% compared to the same period last year due to a significant drop in heavy truck clutch revenue[13].