WSBE(SH:600421)2018-10-26 16:00Financial Performance - Net profit attributable to shareholders was CNY -4,715,421.49, compared to CNY -2,300,625.12 in the same period last year[6]. - Basic earnings per share decreased to CNY -0.024 from CNY -0.012 year-on-year[6]. - The company reported a net loss of CNY 423,739,193.28 as of September 30, 2018, compared to a loss of CNY 419,023,771.79 at the beginning of the year[17]. - The net loss for the third quarter was ¥1,649,775.53, compared to a net loss of ¥1,541,720.32 in the same quarter last year[26]. - The company reported a total profit loss of ¥5,850,732.11 for the first nine months, compared to a loss of ¥2,731,173.99 in the same period last year[26]. - The company reported a net profit loss of CNY 331,705.39 thousand for Q3 2018, compared to a loss of CNY 216,816.06 thousand in the same period last year, indicating a year-over-year increase in losses of approximately 53%[30]. Asset and Equity Changes - Total assets decreased by 10.21% to CNY 48,437,676.71 compared to the end of the previous year[6]. - Net assets attributable to shareholders decreased by 78.68% to CNY 1,277,556.06 compared to the end of the previous year[6]. - Current assets decreased from CNY 10,369,945.47 to CNY 6,372,545.69, a decline of about 38.4%[15]. - The company's equity attributable to shareholders decreased significantly from CNY 5,992,977.55 to CNY 1,277,556.06, a drop of about 78.7%[17]. - The total equity decreased to ¥1,473,289.84 from ¥2,782,779.45 year-over-year[21]. - The company’s total assets were reported at ¥39,071,572.49, slightly down from ¥39,164,269.64 year-over-year[21]. Cash Flow and Operating Activities - Net cash flow from operating activities was negative at CNY -1,909,349.91, a decrease of 195.72% compared to the same period last year[6]. - Operating cash flow for the first nine months of 2018 was negative at CNY -1,909,349.91, a significant decline from a positive cash flow of CNY 1,994,659.23 in the previous year[33]. - Total cash inflow from operating activities was CNY 6,477,760.96, down 80% from CNY 33,260,784.12 in the same period last year[32]. - The cash and cash equivalents at the end of the reporting period stood at CNY 478,527.48, a decrease from CNY 2,289,090.12 at the end of the previous year[33]. - The net increase in cash and cash equivalents for the period was -$94,724.18 thousand, compared to an increase of $33,165.70 thousand in the previous period[36]. - The ending balance of cash and cash equivalents was $33,220.43 thousand, down from $127,944.61 thousand at the beginning of the period[36]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,466[9]. - The largest shareholder, Zhejiang Hengshun Investment Co., Ltd., held 19.50% of shares[9]. Regulatory and Operational Issues - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[10]. - If found guilty of significant violations, the company may face delisting risks as per the Shanghai Stock Exchange regulations[10]. - The company is under investigation by the China Securities Regulatory Commission for suspected false information disclosure, with administrative penalties pending[11]. - The company has reported a significant decline in net profit due to the suspension of operations at its only operating subsidiary, Shanghai Aobai Internal Combustion Engine Co., Ltd[12]. - The company has not disclosed any new product developments or market expansion strategies in the current report[12]. Cost Management - The company incurred operating expenses of CNY 8,387,110.87, which is a decrease from CNY 31,266,124.89 in the previous year, reflecting a cost-cutting effort[33]. - Management expenses for the first nine months increased to ¥5,839,742.69 from ¥4,385,008.43 year-over-year[25]. - The company is focusing on improving operational efficiency and reducing costs to navigate the current financial difficulties[30].