BRIGHT DAIRY(SH:600597)2015-10-30 16:00Financial Performance - Operating revenue for the first nine months reached CNY 20.21 billion, a 31.93% increase year-on-year [7]. - Net profit attributable to shareholders decreased by 47.30% to CNY 214.17 million compared to the same period last year [7]. - Total operating revenue for the third quarter reached ¥7,506,315,495, a 37.8% increase compared to ¥5,443,036,125 in the same period last year [34]. - Net profit for the period was ¥123,950,578, a decrease from ¥176,467,504 in the previous year, representing a decline of 29.7% [36]. - The net profit attributable to the parent company was ¥71,356,633, down from ¥197,029,644, indicating a 63.8% decrease year-on-year [36]. - Earnings per share (basic) for the period was ¥0.0583, compared to ¥0.1609 in the same quarter last year, a decline of 63.8% [37]. - The company reported a total profit of ¥202,678,469, compared to ¥150,560,790 in the previous year, an increase of 34.6% [36]. - The company reported a gross profit margin of approximately 29.5% for the first nine months of 2015, down from 27.5% in the same period last year [39]. Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months was CNY 2.39 billion, a significant recovery from a negative cash flow of CNY 14.23 million in the previous year [7]. - Cash inflow from investment activities totaled ¥271,709,061, up from ¥151,650,646 year-over-year, reflecting a 79% increase [46]. - Cash outflow for investment activities decreased to ¥170,658,598 from ¥332,081,060, indicating a reduction of 48.6% [46]. - Cash inflow from financing activities was ¥1,543,841,088, compared to ¥762,299,662 in the previous year, marking an increase of 102% [47]. - The ending cash and cash equivalents balance increased to ¥1,713,226,558 from ¥1,271,751,071, reflecting a growth of 34.7% [47]. - Cash received from loans rose to ¥1,288,591,239, up from ¥753,772,098, representing a 70.7% increase [47]. - Cash paid for debt repayment surged to ¥1,333,853,986, compared to ¥53,392,591 in the previous year, indicating a significant increase in debt servicing [47]. Assets and Liabilities - Total assets increased by 178.17% to CNY 35.84 billion compared to the end of the previous year [7]. - Current assets rose to ¥12,820,899,888, up from ¥6,418,526,910, driven by a substantial increase in cash and cash equivalents, which reached ¥5,660,526,398 compared to ¥2,001,684,379 at the start of the year [24]. - Non-current assets totaled ¥23,016,168,291, a rise from ¥6,464,618,231, with fixed assets increasing to ¥11,856,107,305 from ¥4,357,378,383 [25]. - Total liabilities amounted to ¥29,235,946,350, up from ¥7,683,569,260, indicating a significant increase in financial obligations [25]. - Total liabilities increased to ¥5,916,143,170 from ¥5,253,285,642, marking a rise of 12.6% [34]. - Shareholders' equity rose to ¥6,601,121,829 from ¥5,199,575,881, reflecting a strong retention of earnings despite the increase in liabilities [26]. Investments and Shareholder Information - Long-term equity investments increased by 45.70% to CNY 23.89 million [10]. - The company is actively pursuing the acquisition of Bright Food Singapore Investment Pte. Ltd., with the board approving the acquisition proposal [17]. - The largest shareholder, Bright Food (Group) Co., Ltd., holds 54.35% of the shares [9]. - The number of shareholders at the end of the reporting period was 51,454 [9]. - The company plans to raise up to ¥9 billion through a non-public issuance of 559,006,208 shares, approved by the Shanghai State-owned Assets Supervision and Administration Commission [18]. Operational Efficiency - The company experienced a significant increase in sales expenses, which reached ¥1,908,716,613, up from ¥1,447,028,847, a rise of 31.9% [34]. - The company has seen a reduction in inventory, primarily in industrial and consumer milk powder products [14]. - Inventory levels increased to ¥2,361,208,963 from ¥2,030,733,693, suggesting a strategic buildup in stock to meet anticipated demand [24]. - The company has made significant investments in long-term assets, with long-term equity investments rising to ¥492,746,705 from ¥16,397,876 [24]. - The overall financial position indicates robust growth potential, with a focus on expanding operational capacity and market presence through strategic investments and asset management [25].