Nisco(SH:600282)2015-10-30 16:00Financial Performance - Operating revenue for the first nine months was CNY 17.32 billion, down 15.85% year-on-year[9]. - Net profit attributable to shareholders was a loss of CNY 474.31 million, a decline of 334.34% compared to the same period last year[5]. - The total profit decreased by 412.01% to a loss of CNY 628.90 million, primarily due to a decline in gross profit from product sales[10]. - The company reported a significant decline in investment income, down 111.55% to a loss of CNY 13.62 million[9]. - The weighted average return on net assets decreased by 8.13 percentage points to -5.71%[5]. - The company reported a net loss of CNY 399,044,281.56 for Q3 2015, compared to a net profit of CNY 128,955,552.21 in the same quarter of the previous year, indicating a significant decline in profitability[37]. - The net loss for Q3 2015 was ¥509,093,206.85, compared to a net profit of ¥86,013,597.48 in Q3 2014, indicating a significant decline in profitability[33]. - The company reported a total comprehensive loss of ¥543,262,036.12 for Q3 2015, compared to a comprehensive income of ¥85,914,580.93 in Q3 2014[34]. - The company’s total comprehensive income for Q3 2015 was CNY -399,044,281.56, compared to CNY 128,955,552.21 in the same quarter of the previous year, indicating a substantial decline in overall financial performance[38]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 39.86 billion, an increase of 0.80% compared to the end of the previous year[5]. - Total liabilities increased to ¥31,778,183,192.67 from ¥30,965,500,626.88, reflecting a growth of about 2.62%[25]. - Total current assets increased to ¥13,033,785,116.28 from ¥12,657,318,237.53, representing a growth of approximately 2.95%[23]. - Total equity attributable to shareholders decreased to ¥8,063,115,613.75 from ¥8,558,334,902.06, a decline of about 5.78%[25]. - Long-term borrowings decreased by 67.66% compared to the beginning of the year, as long-term liabilities due within one year were reclassified[13]. - Total liabilities increased to ¥25,189,839,210.10 in Q3 2015 from ¥23,695,529,894.93 in Q3 2014, representing a growth of 6.3%[33]. Cash Flow - Cash flow from operating activities for the first nine months was CNY 308.74 million, a decrease of 92.04% year-on-year[5]. - Net cash flow from operating activities decreased by 92.04% year-on-year, primarily due to a significant increase in operating payables in the previous year and operational losses in the current period[15]. - The net cash flow from investing activities decreased by 6.52 billion yuan, mainly due to stock purchases in the secondary market[15]. - The company’s investment activities generated a net cash outflow of CNY -2,094,846,950.30 for the first nine months of 2015, compared to a net outflow of CNY -1,442,710,454.42 in the previous year, reflecting an increase in cash outflow of approximately 45.4%[41]. - The company’s financing activities resulted in a net cash inflow of CNY 1,834,362,014.07 for the first nine months of 2015, contrasting with a net outflow of CNY -2,217,556,160.72 in the same period last year[42]. Shareholder Information - The number of shareholders at the end of the reporting period was 222,075, with the largest shareholder holding 46.32% of the shares[7]. - The company guarantees equal treatment for minority shareholders to avoid any harm to their interests[19]. Business Strategy and Outlook - The company anticipates a potential net loss for the year due to weakened demand in the downstream steel industry and falling steel prices[20]. - The company plans to focus on cost reduction and operational efficiency to improve future performance amid challenging market conditions[33]. - The company has committed to ensuring that all iron ore products produced by its subsidiaries are used solely for its own operations[20]. - The company has taken measures to avoid competition with its controlling shareholder, Fosun Group, in the iron ore sector[20]. - The actual controller, Guo Guangchang, commits to not engaging in competing businesses during his control of the company[19].