CONBA(SH:600572)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders rose by 30.19% to CNY 397,226,013.77 for the first nine months of the year[7] - Operating revenue for the first nine months reached CNY 2,571,861,063.68, reflecting a 22.60% increase year-on-year[7] - Basic earnings per share increased by 28.95% to CNY 0.49[8] - The weighted average return on equity improved by 1.99 percentage points to 15.74%[8] - Total operating revenue for Q3 2014 reached CNY 892,433,881.46, a 26.3% increase from CNY 706,656,275.70 in Q3 2013[43] - Operating profit for the period was CNY 200,792,103.82, up 52.7% from CNY 131,430,932.73 in the same period last year[44] - Net profit attributable to shareholders was CNY 109,015,238.63, representing a 10.9% increase compared to CNY 98,686,898.17 in Q3 2013[44] - Total profit for Q3 2014 was CNY 205,107,382.15, a 46.5% increase from CNY 139,994,431.57 in Q3 2013[44] - The company reported a total comprehensive income of CNY 168,865,162.09 for Q3 2014, compared to CNY 108,169,232.00 in the same period last year[44] Asset and Liability Changes - Total assets increased by 32.91% to CNY 5,919,808,291.98 compared to the end of the previous year[7] - The company reported a total current assets of CNY 2,297,919,861.31 as of September 30, 2014, an increase from CNY 2,208,106,936.67 at the beginning of the year, reflecting a growth of approximately 4.1%[37] - Non-current assets totaled CNY 3,621,888,430.67, compared to CNY 2,245,739,247.86, indicating a year-over-year increase of about 61.3%[38] - Total liabilities rose to CNY 2,756,829,864.71 from CNY 1,862,324,696.16, reflecting a growth of approximately 47.9%[38] - Owner's equity increased to CNY 3,162,978,427.27, up from CNY 2,591,521,488.37, marking a growth of around 22%[39] - The total current liabilities increased to CNY 1,444,270,109.96 from CNY 1,073,346,118.18, indicating a growth of around 34.6%[38] Cash Flow Analysis - Cash flow from operating activities increased significantly by 142.75% to CNY 412,529,478.52[7] - The net cash flow from operating activities increased by 142.75% to RMB 412,529,478.52 compared to RMB 169,942,948.31 in the same period last year, primarily due to increased sales revenue and the consolidation of Guizhou Bait Company[21] - The net cash flow from investing activities decreased by 137.44% to -RMB 1,025,835,146.38, mainly due to the acquisition of 51% equity in Guizhou Bait Company, which cost RMB 994.5 million[21] - The net cash flow from financing activities increased by 218.93% to RMB 588,888,372.39, driven by increased bank borrowings and RMB 126 million received from a private placement of shares[22] - Cash inflow from financing activities totaled ¥1,392,178,036.53, significantly higher than ¥360,188,751.93 in Q3 2013[51] - The net cash flow from financing activities improved to ¥588,888,372.39, compared to a negative cash flow of -¥495,143,570.36 in the previous year[51] Shareholder Information - The total number of shareholders reached 33,181 by the end of the reporting period[10] - The largest shareholder, Kang En Bei Group, holds 33.32% of the shares, with 128,850,000 shares pledged[10] - The actual controller, Hu Jiqiang, has increased his shareholding by 1,618,916.1 shares, representing 2% of the total share capital, bringing his total holdings to 48.95%[25] - The company has commitments from major shareholders to avoid engaging in competitive activities, ensuring no conflicts of interest during the reporting period[26] Investment and Acquisitions - The company recognized a gain of CNY 114,178,897.77 from the disposal of non-current assets during the reporting period[9] - The company plans to continue expanding its market presence and investing in new product development[9] - The company's goodwill increased by 445.64% compared to the beginning of the year, mainly due to the acquisition of 51% equity in Guizhou Bait Company, resulting in goodwill of 792 million RMB[17] - The company completed the acquisition of 99% of the equity in Kang En Bei Traditional Chinese Medicine Company, with profit compensation agreements in place for the years 2011-2014[26] - Profit compensation agreements are also established for the acquisition of Yunnan Xitao Company, with projected net profits for 2014 set at RMB 4,800.64 million[27] Changes in Financial Position - Accounts receivable increased by 46.87% compared to the beginning of the year, primarily due to increased sales revenue of the company's main products and a temporary relaxation of credit terms for commercial units[15] - Short-term borrowings increased by 39.79% compared to the beginning of the year, primarily due to increased borrowing needs for cash flow[18] - Other payables increased by 87.27% compared to the beginning of the year, mainly due to the receipt of 126 million RMB in non-public offering stock deposits and increased accrued sales expenses[18] - The company's fixed assets increased by 53.05% compared to the beginning of the year, mainly due to the completion of various projects and the consolidation of Guizhou Bait Company[17] - Other receivables increased by 82.95% compared to the beginning of the year, primarily due to the consolidation of Guizhou Bait Company and increased procurement deposits[15] - The company's operating expenses increased by 126.88% compared to the same period last year, mainly due to increased donation expenditures[20] - The company's financial assets available for sale increased by 289.58% compared to the beginning of the year, primarily due to the investment in 1.1% equity of Beijing Jialin Pharmaceutical Co., Ltd.[16] - Prepayments increased by 99.26% compared to the beginning of the year, mainly due to prepayments for technology development fees and raw material purchases by subsidiaries[15] - Long-term borrowings increased by 915.25% compared to the beginning of the year, primarily due to the need for financing related to the acquisition of Guizhou Bait Company[19] Compliance and Governance - The company has committed to not engage in any competition with Zhejiang Zuoli Pharmaceutical Co., Ltd. regarding products derived from medicinal fungi, ensuring compliance with corporate governance[28] - The company has adopted new accounting standards effective July 1, 2014, which will impact the classification of certain financial assets[30] - The company has not reported any significant changes in net profit or losses compared to the previous year, indicating stable financial performance[29]