GUANNONG SHARE(SH:600251)2014-10-27 16:00Financial Performance - Operating revenue rose by 47.26% to CNY 798,087,049.89 for the first nine months of the year[8] - Net profit attributable to shareholders decreased by 15.98% to CNY 151,554,177.38 compared to the same period last year[8] - Basic earnings per share fell by 16.29% to CNY 0.4199[9] - The weighted average return on equity decreased by 4.75 percentage points to 9.92%[8] - Total revenue for Q3 2014 reached ¥230,654,932.65, a significant increase of 112.5% compared to ¥108,567,968.17 in Q3 2013[48] - Net profit for the year-to-date period (January to September 2014) was ¥178,724,168.54, slightly down from ¥182,339,024.83 in the previous year[49] - The net profit attributable to the parent company for Q3 2014 was -5,987,759.91 RMB, compared to 23,858,526.40 RMB in the same period last year, indicating a significant decline[50] - The total comprehensive income attributable to the parent company for Q3 2014 was -5,987,759.91 RMB, compared to 23,858,526.40 RMB in the same period last year[50] Assets and Liabilities - Total assets increased by 24.67% to CNY 3,409,728,345.25 compared to the end of the previous year[8] - The company's asset-liability ratio improved by 8.55 percentage points to 40.13%[8] - The company's fixed assets increased to 902.44 million RMB, up 39.22% from the beginning of the year, mainly due to the acquisition of Tianjin Sanhe and the completion of Guannong Building[16] - The company's goodwill rose to 107.91 million RMB, a significant increase of 544% compared to the beginning of the year, attributed to the acquisition of Tianjin Sanhe[16] - The company's long-term borrowings decreased to 9.77 million RMB, a reduction of 94.24%, due to the repayment of bank loans using fundraising and dividend payments[17] - The company's total liabilities decreased to ¥489,896,099.82 from ¥665,212,844.24, a reduction of 26.4%[44] - Shareholders' equity increased to ¥1,859,027,491.24 from ¥1,381,801,046.74, representing a growth of 34.7%[44] Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash outflow of CNY 2,417,956.1 compared to a net inflow of CNY 167,319,563.43 in the previous year[8] - Cash flow from operating activities for the first nine months of 2014 was -2,417,956.10 RMB, a decline from 167,319,563.43 RMB in the same period last year[55] - Cash flow from investing activities generated a net inflow of 214,288,982.18 RMB for the first nine months of 2014, compared to 192,187,787.45 RMB in the previous year[57] - Cash flow from financing activities resulted in a net outflow of -40,930,908.65 RMB for the first nine months of 2014, an improvement from -298,034,203.14 RMB in the same period last year[57] - The net cash flow from financing activities was CNY 124,444,383.82, recovering from a negative cash flow of -CNY 300,711,090.53 in the previous year[59] Shareholder Information - The total number of shareholders reached 31,655 by the end of the reporting period[12] - The company completed a non-public offering of 30,321,004 shares, increasing the total share capital to 392,421,004 shares as of August 15, 2014[18] - The company implements a profit distribution policy, ensuring at least 10% of the distributable profit is allocated as cash dividends annually[30] - The company aims to distribute no less than 30% of the average annual distributable profit over the last three years in cash dividends[30] - The company reported a cash distribution plan for shareholders, aiming for a minimum cash dividend of 10% of the distributable profit each year, with a cumulative cash distribution of at least 30% of the average annual distributable profit from 2012 to 2014[34] Investments and Acquisitions - The company acquired 100% equity of Jiaxing Maoxiong for a total of ¥25,434,774.66, including ¥19,737,880 for equity transfer and ¥5,696,894.66 for debt repayment, completed on July 7, 2014[19] - The company acquired 51.10% of Tianjin Sanhe's equity for a total of ¥210 million, consisting of ¥60.03 million for equity transfer and ¥149.97 million for capital increase, completed on August 7, 2014[20][21] - The company committed to invest ¥49.9 million in Guannong Lvyuan Sugar Industry for production equipment upgrades, with ¥8.903 million already invested[23] Operational Efficiency - The company has indicated a focus on improving operational efficiency and reducing costs in the upcoming quarters[49] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[48] - The company has engaged in entrusted financial management with a total principal of ¥184 million, including ¥120 million from raised funds[28] Miscellaneous - The company has established a commitment to prioritize business opportunities for its subsidiary, avoiding any competitive activities[30] - The company has taken measures to prevent direct or indirect competition with its business operations from its controlling shareholder[29] - The company has initiated the development of a defined benefit plan, which is expected to impact future financial statements[32]