BRIGHT DAIRY(SH:600597)2018-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 25.53% year-on-year to CNY 393,806,587 for the first nine months[7] - Operating revenue for the first nine months was CNY 15,564,423,056, down 5.71% from the same period last year[7] - Basic earnings per share fell by 25.54% to CNY 0.3216[7] - The company reported a loss of CNY 21,084,788 from the disposal of non-current assets during the reporting period[7] - The company reported a decrease in investment income due to reduced profits from associated companies[16] - The company reported a total comprehensive income of CNY -31,076,685 for Q3 2023, compared to CNY 111,680,395 in Q3 2022[34] - Earnings per share for Q3 2023 were CNY 0.0481, down from CNY 0.1327 in Q3 2022[34] - Net profit for the first nine months of 2023 was CNY 521,767,066, down 16.8% from CNY 620,552,036 in the same period last year[34] Cash Flow - The net cash flow from operating activities was CNY 725,560,372, representing a significant decline of 44.82% compared to the previous year[7] - Cash flow from operating activities for the first nine months of 2023 was CNY 18,503,101,978, a decrease from CNY 19,236,830,863 in the same period last year[39] - The company experienced a significant increase in financial expenses, with interest expenses rising to CNY 127,173,236 for the first nine months of 2023, compared to CNY 121,276,212 in the previous year[33] - The net cash flow from financing activities was ¥68,156,645, a significant increase compared to the previous period[19] - Cash received from other financing activities increased by ¥9,148,191, representing an increase of 84.96% to ¥19,916,254[17] - Cash paid for debt repayment increased significantly by ¥2,234,503,375, a rise of 246.44% to ¥3,141,216,465[17] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 16,569,021,069, a slight increase of 0.18% compared to the end of the previous year[7] - Total current assets decreased to CNY 7,445,012,907 from CNY 7,848,417,596, a decline of approximately 5.1%[26] - Total liabilities decreased slightly from CNY 9,856,806,230 to CNY 9,802,808,252, a decrease of approximately 0.5%[27] - Short-term borrowings increased to CNY 3,450,875,849 from CNY 3,096,664,367, an increase of about 11.4%[27] - Total non-current assets increased to CNY 9,124,008,162 from CNY 8,690,839,781, an increase of approximately 5.0%[26] - The company's retained earnings increased to CNY 2,200,373,261 from CNY 2,002,484,675, an increase of about 9.9%[27] - The total equity attributable to shareholders increased to CNY 5,418,646,499 from CNY 5,358,279,670, an increase of approximately 1.1%[27] Operational Highlights - The company experienced a significant increase in construction in progress, which rose by 211.59% to CNY 1,014,697,157[14] - Research and development expenses increased to CNY 43,336,072 for the first nine months of 2023, up 30% from CNY 33,354,665 in the previous year[33] - The total operating cost for the first nine months of 2023 was CNY 14,877,723,335, a decrease of 5.3% from CNY 15,705,845,216 in the same period last year[33] - The company aims to enhance market expansion and product development strategies in response to the declining revenue trends observed in recent quarters[33] Shareholder Information - The total number of shareholders reached 50,581, with the largest shareholder holding 51.62% of the shares[11] Investment Activities - The company approved the construction of a new protein production line and a liquid dairy product production line in New Zealand, with investments of NZ$17.94 million and NZ$125 million respectively[22] - The company acquired a 66.27% stake in Shanghai Milk Shed Food Co., Ltd. for ¥29,821,500[23]