FFEC(SH:600203)2015-10-28 16:00Financial Performance - Operating revenue surged by 119.80% to CNY 4,448,509,358.78 year-to-date[7] - Net profit attributable to shareholders decreased by 85.27% to CNY 7,556,405.64 compared to the same period last year[7] - Basic earnings per share decreased by 89.47% to CNY 0.02 compared to the previous year[7] - The company reported a net loss of ¥129,544,014.56 in undistributed profits, a 17.25% increase in losses compared to ¥110,480,768.05 last year[14] - The net profit attributable to the parent company was a loss of ¥16,067,644.18, compared to a profit of ¥45,426,708.26 in the previous year, marking a decline of 135.4%[40] - The company reported a total profit of -¥11,968,713.04 for the quarter, contrasting with a profit of ¥55,090,144.59 in the same quarter last year[39] - The company incurred asset impairment losses of ¥1,384,192.28 in the third quarter, compared to ¥11,844,920.16 in the same period last year[38] - The total comprehensive income for the third quarter was -¥165,109,326.42, compared to ¥24,591,148.00 in the same quarter last year, indicating a decline in overall profitability[42] Cash Flow and Liquidity - Cash flow from operating activities showed an improvement, with a net cash outflow of CNY 52,421,777.43, compared to a larger outflow of CNY 114,973,408.30 in the previous year[7] - Cash inflow from operating activities totaled ¥5,904,962,625.02, a 150.56% increase from ¥2,356,710,512.27 in the previous year[15] - The net cash increase in cash and cash equivalents was a decrease of 398.58% to -¥129,595,442.03, mainly due to reduced cash from the sale of shares in Huaying Technology Group[16] - Cash and cash equivalents at the end of the reporting period totaled ¥170,305,361.80, down from ¥213,287,456.99 at the end of the previous year[45] - The cash flow from investing activities showed a net outflow of -¥73,183,031.31, compared to a net inflow of ¥51,281,064.32 in the same period last year[45] - The financing activities generated a net cash outflow of -¥8,888,704.00, a decrease from a net inflow of ¥106,218,177.62 in the previous year[45] - The ending cash and cash equivalents balance decreased to $18.72 million from $142.03 million year-over-year, highlighting liquidity challenges[47] Assets and Liabilities - Total assets increased by 9.58% to CNY 4,363,503,006.06 compared to the end of the previous year[7] - Current liabilities rose to ¥2,515,641,975.47, compared to ¥2,196,774,252.44, reflecting an increase of about 14.5%[33] - Non-current liabilities totaled ¥198,072,418.91, up from ¥175,330,282.57, indicating an increase of approximately 12.4%[33] - The total liabilities reached ¥2,713,714,394.38, a rise from ¥2,372,104,535.01, marking an increase of around 14.4%[33] - Owner's equity increased to ¥1,649,788,611.68 from ¥1,609,822,563.30, showing a growth of about 2.5%[33] Shareholder Information - The number of shareholders reached 25,927 at the end of the reporting period[11] - The largest shareholder, Fujian Furi Group, holds 24.78% of the shares[11] - The company plans to issue up to 75,550,000 shares at an adjusted price of ¥8.58 per share, raising a total of up to ¥653.51 million[17] Legal Matters - The company is involved in ongoing litigation regarding energy-saving technology service contracts, with a counterclaim for breach of contract amounting to ¥4,410,000[19] - The company is involved in a lawsuit regarding a breach of contract for a waste heat power generation project, claiming a penalty of RMB 13,445,000 due to a delay of over two years in project completion[20] - Zhejiang Wujin Mining filed a lawsuit against the company for a contract dispute, seeking a refund of RMB 14,904,598.80 and a penalty of RMB 2,682,827[20] - The company has ongoing litigation related to loan guarantee contracts, with details disclosed in the 2015 semi-annual report[21] - The company is actively involved in legal proceedings that may impact its financial position and operational strategy[20] - The company has not yet determined the trial date for the ongoing lawsuits, which may affect future financial forecasts[20] - The company continues to monitor and manage its legal risks associated with these disputes[20] Performance Commitments - The company has made performance commitments, including a net profit of no less than RMB 80 million for 2014, RMB 100 million for 2015, and RMB 120 million for 2016, excluding non-recurring gains and losses[24] - The company is currently fulfilling its commitments related to the performance guarantees and share lock-up agreements[24] - The company has a lock-up period of 36 months for shares acquired through a private placement, with restrictions on transfer or management by the shareholders[24] - After the lock-up period, shareholders are limited to reducing their holdings by 50% within 12 months and 75% within 24 months of the total shares acquired[24] - The company has committed to not engaging in any business activities that compete with Fujian Furi Electronics during its control period[28] Investment Activities - Prepayments increased by 34.80% to CNY 551,136,985.39, primarily due to subsidiaries' activities[13] - Investment income decreased by 57.81% to ¥55,834,587.71 from ¥132,331,677.08 year-over-year[14] - The company’s cash flow from investment activities decreased by 61.79% to ¥62,674,793.99 compared to ¥164,030,153.97 in the previous year[15] - Cash paid for the acquisition of fixed assets and other long-term assets increased by 34.65% to ¥139,355,595.95, attributed to increased investments in construction projects by subsidiaries[16] - Cash received from borrowings increased by 139.47% to ¥956,477,450.38, mainly due to new loans from the parent company and subsidiaries[16] - Cash inflow from borrowings was $301.52 million, up from $142.12 million, suggesting increased reliance on debt financing[47]