PJRC(SH:600395)2015-10-29 16:00Financial Performance - Net profit attributable to shareholders dropped by 96.09% to CNY 14,551,415.74 year-on-year[6] - Operating revenue fell by 26.71% to CNY 2,801,137,613.61 for the first nine months[6] - Cash flow from operating activities decreased by 30.22% to CNY 635,069,447.96 year-on-year[6] - Basic and diluted earnings per share fell by 96.00% to CNY 0.009[6] - Total profit for the first nine months was CNY 20,593,866.48, a decrease of 95.3% from CNY 437,340,819.95 in the same period last year[31] - Investment income decreased by 233.51% to -¥81,657,164.46 primarily due to a significant drop in net profits from investments in Songhe Company[10] - Total operating revenue for Q3 2015 was CNY 814,869,723.67, a decrease of 29.05% compared to CNY 1,148,200,170.41 in Q3 2014[27] - Net profit for Q3 2015 was a loss of CNY 6,679,832.42, compared to a profit of CNY 105,285,244.42 in Q3 2014[28] - Total comprehensive income for Q3 2015 was CNY -6,679,832.42, compared to CNY 105,285,244.42 in Q3 2014[30] Assets and Liabilities - Total assets decreased by 4.23% to CNY 10,472,816,781.17 compared to the end of the previous year[6] - Current assets totaled CNY 3,577,539,377.24, down from CNY 4,052,529,085.50, indicating a decrease of about 11.69%[21] - Total liabilities decreased to CNY 4,320,736,443.24 from CNY 4,573,285,578.84, a decline of about 5.53%[22] - The company's equity attributable to shareholders decreased to CNY 5,839,638,372.24 from CNY 6,049,871,593.00, reflecting a decrease of approximately 3.48%[22] - The company’s total assets as of Q3 2015 were CNY 9,704,597,867.67, down from CNY 10,153,624,258.89 in the previous year[28] Shareholder Information - The total number of shareholders was 65,128 at the end of the reporting period[7] - The largest shareholder, Guizhou Panjiang Investment Holding Group Co., Ltd., held 58.07% of the shares[8] Cash Flow - Cash inflow from operating activities totaled CNY 3,304,811,178.87, down 16.1% from CNY 3,936,152,375.20 in the previous year[35] - Cash outflow from operating activities was CNY 2,669,741,730.91, a decrease of 11.8% compared to CNY 3,026,060,570.02 in the previous year[35] - The net cash flow from operating activities for the first nine months of 2015 was CNY 645,830,316.89, a decrease of 38.2% compared to CNY 1,043,530,865.78 in the same period last year[38] - The ending balance of cash and cash equivalents was CNY 673,846,254.24, down from CNY 933,262,062.41 at the end of the same period last year[39] Operational Challenges - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to domestic coal overcapacity, insufficient demand, and continuous decline in coal prices[17] - The company is facing challenges due to adverse market conditions affecting the coal industry, which may impact future performance[17] Corporate Governance - The company has committed to avoiding any direct or indirect competition with its parent company, Panjiang Holdings, and will cease any competing operations if necessary[14] - Panjiang Holdings has pledged to ensure that transactions with the company will be conducted at fair market prices[14] - The company is committed to maintaining financial independence, including establishing an independent financial accounting department and not sharing bank accounts with Panjiang Holdings[15] - The company has established a complete governance structure to ensure operational independence from Panjiang Holdings[15] - The company is focused on minimizing related party transactions and ensuring compliance with legal and regulatory requirements[14]