GWYD(SH:600517)2014-10-28 16:00Financial Performance - Operating revenue for the first nine months reached CNY 2,423,173,122.45, a 37.79% increase year-on-year[7] - Net profit attributable to shareholders rose by 58.82% to CNY 137,708,453.31 for the first nine months[7] - The net profit excluding non-recurring gains and losses increased by 79.00% to CNY 134,169,500.89[7] - The company's operating revenue for the reporting period was CNY 2,423,173,122.45, an increase of 37.79% compared to the same period last year[15] - The company's operating costs amounted to CNY 1,958,781,202.40, reflecting a 37.67% increase year-on-year due to higher sales[15] - Operating profit for Q3 2014 was ¥55,627,668.80, a 81.9% increase from ¥30,598,021.33 in Q3 2013[32] - Year-to-date operating profit for 2014 reached ¥201,281,751.03, up 83.0% from ¥109,951,733.69 in the same period last year[32] - The net profit for Q3 2014 was CNY 42,623,983.00, up from CNY 29,165,050.30 in Q3 2013, representing a growth of 46.1%[36] - The basic earnings per share for Q3 2014 was CNY 0.033, compared to CNY 0.022 in Q3 2013, an increase of 50%[36] Assets and Liabilities - Total assets increased by 14.21% to CNY 5,065,249,469.08 compared to the end of the previous year[7] - The total assets of the company reached CNY 5,065,249,469.08, compared to CNY 4,434,943,972.97 at the beginning of the year[25] - Total liabilities as of September 30, 2014, were ¥498,330,743.81, compared to ¥497,908,612.90 at the beginning of the year[30] - Shareholders' equity totaled ¥1,748,311,747.94 as of September 30, 2014, compared to ¥1,747,825,391.87 at the beginning of the year[30] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -518,780,865.93, compared to CNY -232,396,632.81 in the same period last year[7] - The net cash flow from operating activities decreased by CNY 286,384,233.12 compared to the previous year, attributed to a shortened supplier payment cycle and increased tax payments[16] - The company reported a net cash flow from financing activities of CNY 333,801,463.11, mainly due to increased loans during the period[17] - Operating cash inflow for the first nine months of 2014 was CNY 352,751,157.50, down from CNY 429,673,302.80 in the same period last year, representing a decrease of approximately 18%[41] - Net cash outflow from operating activities for Q3 2014 was CNY -315,751,304.25, compared to CNY -32,304,886.12 in Q3 2013, indicating a significant decline in operational performance[42] - The net cash flow from financing activities improved to CNY 168,273,917.90 in Q3 2014, compared to a net outflow of CNY -45,252,156.64 in Q3 2013[42] Expenses - The company's financial expenses rose to CNY 27,151,790.23, a significant increase of 137.66% year-on-year, primarily due to increased interest expenses from higher borrowings[16] - The company's income tax expense increased by 74.47% to CNY 56,380,415.48, driven by an increase in total profit[16] Inventory and Prepayments - The company's inventory increased to CNY 803,821,287.58, up from CNY 632,698,941.26 at the beginning of the year[24] - Prepaid accounts increased by 320.86% to CNY 145,820,980.48, mainly due to increased material payments by subsidiaries[13] - The company reported a significant increase in prepayments, which rose to ¥44,500,467.62 from ¥9,410,630.86 year-to-date[29] Strategic Initiatives - The company is actively pursuing a major asset restructuring, planning to acquire 100% equity of a subsidiary from its controlling shareholder[19]