RNM(SH:600259)2016-10-30 16:00Financial Performance - Operating revenue for the first nine months was CNY 2,180,231,338.41, a 2.11% increase year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 118,228,895.57, compared to a loss of CNY 95,869,653.82 in the same period last year[8] - The weighted average return on net assets was -25.08%, down from -12.51% in the previous year[8] - Basic and diluted earnings per share were both -CNY 0.45, compared to -CNY 0.37 in the same period last year[8] - The company reported a significant decrease in investment income, down 130.72% to -¥6,607,446.81, primarily due to the sale of financial assets in the previous period[13] - The company reported a net loss of CNY 18,442,460.84 for Q3 2016, compared to a net loss of CNY 63,334,842.69 in the same quarter last year, indicating an improvement of approximately 70.9% year-over-year[37] - The total comprehensive loss for the first nine months of 2016 was CNY -129,154,054.68, compared to CNY -107,580,522.76 for the same period in 2015, representing a decline of about 19.9%[37] - The company's operating profit (loss) for Q3 2016 was CNY -14,209,193.23, compared to CNY -52,548,315.47 in Q3 2015, showing a year-over-year improvement of approximately 73%[40] Assets and Liabilities - Total assets increased by 23.52% to CNY 4,050,156,809.06 compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 22.43% to CNY 411,913,034.75 compared to the end of the previous year[8] - The company's current assets totaled ¥3,059,531,212.05 as of September 30, 2016, compared to ¥2,320,348,374.76 at the beginning of the year, representing a growth of 32%[32] - Total liabilities increased to ¥3,453,467,417.74 from ¥2,552,231,801.12, indicating a rise of 35.3%[32] - Cash and cash equivalents increased by 96.46% to ¥405,547,386.46 due to additional financing during the reporting period[12] - Inventory levels rose to ¥1,924,627,010.55 from ¥1,701,370,284.38, an increase of 13.1%[32] Cash Flow - The company reported a net cash flow from operating activities of -CNY 241,944,739.23 for the first nine months[8] - Net cash flow from operating activities was negative CNY 92,467,468.96, compared to negative CNY 128,092,111.71 in the previous year[46] - Cash inflow from financing activities totaled CNY 2,530,683,281.60, up from CNY 2,001,143,036.44 year-over-year[46] - Net cash flow from financing activities was CNY 114,822,104.08, a decrease from CNY 226,388,077.66 in the previous year[46] - The company reported a net increase in cash and cash equivalents of CNY 38,246,098.36, down from CNY 84,254,352.57 in the previous year[46] Shareholder Information - The total number of shareholders was 32,537 at the end of the reporting period[10] - The largest shareholder, Guangdong Guangsheng Asset Management Co., Ltd., held 44.31% of the shares[10] Future Plans and Commitments - The company plans to raise up to ¥1,356 million through a non-public offering to fund mining projects and repay bank loans[15] - The non-public offering will enhance the company's profitability in the rare earth and tungsten industries, supporting sustainable development[16] - The company plans to use ¥1 billion of the raised funds to repay bank loans, improving its debt structure and financial condition[17] - Guangsheng Company has committed to resolving obstacles related to the injection of equity from its subsidiaries into the listed company within three years[23] - The company plans to propose the acquisition of 60% equity in Zhujiang Mining Company to Guangsheng Nonferrous Metals Co., Ltd. once conditions are favorable[23] Operational Changes - The company will cease all business dealings with the Metallurgical Import and Export Company in rare earth product trading starting from 2017[23] - Guangsheng Company has pledged to ensure that no competition arises between its controlled enterprises and Guangsheng Nonferrous Metals Co., Ltd.[27] - The company has signed management agreements to delegate control of its subsidiaries' operations to Guangsheng Nonferrous Metals Co., Ltd.[23] - The company will take necessary measures to resolve any conflicts of interest arising from competition with its subsidiaries[27] - The company is committed to ensuring compliance with state asset management regulations regarding the approval processes for its commitments[26]