TCICL(SH:600281)2017-10-29 16:00Financial Performance - Operating revenue for the first nine months was CNY 697,276,523.38, a decline of 32.92% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 38,668,716.99, compared to a loss of CNY 23,943,856.96 in the same period last year[6] - Operating revenue decreased by 32.92% compared to the same period last year, primarily due to a reduction in trade volume[12] - Operating costs decreased by 34.96% year-on-year, mainly due to lower trade costs[12] - Sales expenses increased by 229.49% compared to the previous year, primarily due to increased shipping costs[12] - Other income decreased by 99.86% year-on-year, mainly due to the absence of government subsidies this year[12] - Financial expenses increased by 38.11% compared to the previous year, primarily due to higher interest expenses[12] - The net profit attributable to the parent company for Q3 2017 was a loss of CNY 7,508,829.44, compared to a profit of CNY 71,212,938.59 in Q3 2016[23] - The company reported an operating loss of CNY 3,130,795.33 for Q3 2017, compared to a loss of CNY 7,866,807.10 in Q3 2016[22] - The company incurred a total profit loss of CNY 7,344,677.71 in Q3 2017, contrasting with a profit of CNY 71,375,680.67 in Q3 2016[22] - Net profit for the period was a loss of approximately ¥13.99 million, compared to a profit of ¥72.26 million in the same period last year[25] - Total profit for the period was a loss of approximately ¥13.99 million, compared to a profit of ¥72.26 million in the same period last year[25] Assets and Liabilities - Total assets decreased by 17.71% to CNY 1,743,577,642.82 compared to the end of the previous year[6] - Current assets totaled CNY 898,564,808.96, down from CNY 1,278,257,715.52 at the beginning of the year[16] - Current liabilities totaled CNY 1,012,226,031.31, down from CNY 1,548,692,257.93 at the beginning of the year[17] - The total liabilities as of the end of Q3 2017 amounted to CNY 893,825,533.43, a decrease of 25.6% from CNY 1,202,374,339.05 at the end of the previous year[20] - The total equity attributable to shareholders was CNY 481,922,119.33, down from CNY 524,578,373.06 at the end of the previous year[20] - The company’s total liabilities and equity as of the end of Q3 2017 were CNY 1,375,747,652.76, down from CNY 1,726,952,712.11 at the end of the previous year[20] - Total assets decreased from CNY 2,118,899,989.63 at the beginning of the year to CNY 1,743,577,642.82[17] Cash Flow - Cash flow from operating activities improved to a net outflow of CNY 86,531,574.96, compared to a net outflow of CNY 177,251,728.95 in the previous year[6] - The company’s cash flow from operating activities was not detailed in the provided documents, indicating a need for further analysis on liquidity[22] - Operating cash inflow for the first nine months of 2017 was CNY 548,346,989.08, slightly up from CNY 543,549,275.97 in the same period last year[30] - Net cash flow from operating activities was negative at CNY -72,897,819.41, an improvement from CNY -192,180,238.11 year-over-year[30] - Cash inflow from investment activities totaled CNY 21,497,574.92, down from CNY 100,644,200.00 in the previous year[30] - Net cash flow from investment activities was CNY 3,393,659.92, significantly lower than CNY 80,639,400.00 in the same period last year[30] - Cash inflow from financing activities was CNY 200,000,000.00, an increase from CNY 190,000,000.00 year-over-year[30] - Net cash flow from financing activities was negative at CNY -41,190,607.36, compared to a positive CNY 178,492,990.29 in the previous year[30] - The ending cash and cash equivalents balance was CNY 61,299,643.87, down from CNY 153,465,984.17 at the end of the previous year[30] - Total cash outflow for operating activities was CNY 621,244,808.49, a decrease from CNY 735,729,514.08 year-over-year[30] - Cash paid to employees decreased to CNY 24,069,727.11 from CNY 32,899,752.06 in the previous year[30] - Cash paid for taxes dropped significantly to CNY 2,165,065.28 from CNY 15,022,270.53 year-over-year[30] Changes in Accounts - Prepaid accounts increased by 40.21% due to an increase in trade prepayments[11] - Construction in progress rose by 59.67% as a new subsidiary is currently in the establishment phase[11] - Short-term borrowings decreased by 86.85% due to repayment of bank loans[11] - Accounts payable decreased by 90.87% as a result of the maturity and settlement of bank acceptance bills[11] - Other payables decreased by 42.71% due to repayment of loans to related parties[11] Company Outlook - The company is in a transition period with ongoing uncertainties regarding its ability to continue as a going concern[13]