CRE(SH:600217)2014-10-24 16:00Financial Performance - Net profit attributable to shareholders was CNY -188,058,429.85, a decline of 105.53% year-on-year[7] - Operating revenue for the period was CNY 521,312,443.83, down 8.04% from the same period last year[7] - The company reported a basic earnings per share of CNY -0.2846, a decrease of 105.49% year-on-year[7] - Revenue decreased by 8.04% to 52,131.24 million, attributed to lower selling prices of cement and clinker[18] - The company expects to incur an operating loss for the year, mainly due to underutilization of cement production capacity and persistently low market prices in the region[20] - The company reported a net loss of CNY 62,075,261.13 for Q3 2014, compared to a loss of CNY 35,393,659.97 in the same period last year[37] - Net profit for Q3 2014 was a loss of ¥60.59 million, compared to a loss of ¥34.49 million in Q3 2013, representing a year-over-year increase in losses of 75.73%[41] - The company reported a total comprehensive loss of ¥60.59 million for Q3 2014, compared to a loss of ¥34.49 million in Q3 2013[41] Assets and Liabilities - Total assets decreased by 6.64% to CNY 2,083,765,190.57 compared to the end of the previous year[7] - The total assets decreased from 2,232,083,219.87 to 2,083,765,190.57, indicating a reduction in overall asset value[28] - Total assets as of September 30, 2014, were CNY 2,093,201,424.65, down from CNY 2,238,703,009.11 at the beginning of the year[32] - Total liabilities increased to CNY 2,231,362,726.63 from CNY 2,190,853,787.58 at the start of the year[33] - The company's total equity was reported at -CNY 138,161,301.98 as of September 30, 2014, compared to CNY 47,849,221.53 at the beginning of the year[33] Cash Flow - Cash flow from operating activities improved by 125.49% to CNY 10,938,336.94 compared to the previous year[7] - The net cash flow from operating activities was 1,093.83 million, a significant increase of 5,384.33 million compared to the previous period, primarily due to reduced cash payments for goods and services[16] - Cash inflow from investment activities totaled CNY 7,884,672.00, compared to CNY 35,000.00 in the previous year, showing a substantial increase[46] - Cash outflow from investment activities was CNY 25,124,342.55, up from CNY 12,488,839.30 year-over-year, representing an increase of approximately 101.67%[46] - Cash inflow from financing activities was CNY 140,000,000.00, a decrease from CNY 723,000,000.00 in the previous year, reflecting a decline of about 80.66%[46] - Cash outflow from financing activities was CNY 126,678,050.33, down from CNY 639,412,044.50 year-over-year, indicating a decrease of approximately 80.24%[46] Shareholder Information - The number of shareholders reached 47,375, with the largest shareholder holding 28.05% of the shares[11] Borrowings and Receivables - Short-term borrowings increased by 180% to CNY 14,000,000.00 compared to the beginning of the year[14] - Accounts receivable rose by 423.57% to CNY 6,479.60 million, attributed to extended credit terms due to market competition[14] - Short-term borrowings rose significantly from 50,000,000.00 to 140,000,000.00, indicating increased leverage[28] - Accounts receivable rose significantly to CNY 64,519,413.36 from CNY 12,099,234.79, indicating a substantial increase in credit sales[31] Cash and Liquidity - Cash and cash equivalents increased to 49,172,059.21 from 29,462,343.15, showing improved liquidity[27] - Cash and cash equivalents at the end of Q3 2014 totaled ¥39.90 million, down from ¥66.77 million at the end of Q3 2013[44] - The ending cash and cash equivalents balance was CNY 28,555,306.56, a decrease from CNY 66,295,941.41 in the previous year[46] - The net increase in cash and cash equivalents for the period was CNY 5,940,640.88, compared to an increase of CNY 27,769,740.39 in the same period last year[46] Management and Expenses - Management expenses increased by 33.83% to 10,693.53 million, primarily due to higher repair costs and losses from downtime[18] Future Plans - The company plans a major asset restructuring, involving the sale of all existing assets to its controlling shareholder and the issuance of shares to acquire stakes in several companies[16]