ANTAI GROUP(SH:600408)2016-10-28 16:00Financial Performance - Operating revenue increased by 18.08% to CNY 1,742,274,371.76 for the first nine months compared to the same period last year[6]. - Net profit attributable to shareholders was a loss of CNY 442,588,405.64 for the first nine months, compared to a loss of CNY 341,895,804.73 in the same period last year[6]. - Total operating revenue for Q3 2016 reached CNY 800,452,903.98, a significant increase from CNY 340,010,554.22 in Q3 2015, representing a growth of approximately 135.5%[23]. - The net loss attributable to the parent company for Q3 2016 was CNY -88,099,770.70, compared to a loss of CNY -105,747,780.70 in Q3 2015, showing an improvement of approximately 16.0%[24]. - The company reported a total comprehensive loss of CNY -92,150,599.78 for Q3 2016, compared to a loss of CNY -146,429,654.32 in Q3 2015, indicating an improvement of approximately 37.0%[24]. - The company reported a total loss of -344,543,281.62 CNY for the first nine months of 2016, compared to -186,237,144.28 CNY in the same period of 2015, reflecting a 85% increase in losses[28]. Assets and Liabilities - Total assets decreased by 0.89% to CNY 6,558,416,960.40 compared to the end of the previous year[6]. - The company’s total liabilities reached 5,415,748,098.07 RMB, up from 5,015,529,963.40 RMB at the start of the year[17]. - Current liabilities totaled 3,744,695,137.83 RMB, an increase from 3,661,186,293.13 RMB at the beginning of the year[17]. - The company's total equity decreased to CNY 1,372,546,847.64 as of September 30, 2016, from CNY 1,717,183,697.17 at the beginning of the year, representing a decline of about 20.1%[21]. - Total liabilities as of September 30, 2016, were CNY 4,282,752,220.59, slightly up from CNY 4,238,016,150.82 at the start of the year, indicating a marginal increase of approximately 1.1%[21]. Cash Flow - Cash flow from operating activities was a negative CNY 116,372,500.72 for the first nine months[6]. - The net cash flow from operating activities for the first nine months of 2016 was -116,372,500.72 RMB, an improvement of 45,927,079.14 RMB compared to -162,299,579.86 RMB in the same period of 2015, due to increased cash receipts from sales[11]. - Cash inflow from financing activities was 198,268,483.33 RMB, a decrease of 92.56% from 2,669,668,921.03 RMB in the same period last year[34]. - The company reported a net decrease in cash and cash equivalents of -97,738,594.30 RMB, compared to -639,105.77 RMB in the same period last year[34]. - Cash and cash equivalents dropped significantly to CNY 4,188,202.51 from CNY 101,918,591.17 at the beginning of the year, a decrease of approximately 95.9%[19]. Inventory and Expenses - The company reported a significant increase in inventory, with a 100.78% rise to CNY 480,735,458.37 due to increased stock of coke and section steel products[10]. - Sales expenses increased by 41.04% to CNY 96,485,657.81 due to higher sales volume of main products[10]. - The company recorded a substantial increase in other operating expenses, with a 276.95% rise to CNY 61,401,966.74 due to the disposal of non-compliant fixed assets[10]. - Total operating costs for Q3 2016 were CNY 889,918,216.04, up from CNY 475,738,405.78 in the same period last year, indicating a rise of about 87.0%[23]. Strategic Initiatives - The company plans to optimize production organization and adjust operational plans to ensure stable business operations despite the termination of the major asset restructuring[12]. - The company aims to seek strategic cooperation and introduce quality assets to enhance profit growth and sustainable development capabilities[12]. - The company’s stock was suspended from trading on April 14, 2016, and resumed on October 27, 2016, following the termination of the major asset restructuring[11].