CECL(SH:600675)2014-10-29 16:00Financial Performance - Operating revenue decreased by 57.46% to CNY 1.49 billion for the first nine months compared to the same period last year[10] - Net profit attributable to shareholders decreased by 48.94% to CNY 153.83 million for the first nine months compared to the same period last year[10] - Basic earnings per share decreased by 49.07% to CNY 0.082 compared to the same period last year[11] - The weighted average return on net assets decreased by 2.23 percentage points to 2.67%[11] - Total operating revenue for Q3 2014 was CNY 378,673,692.45, a decrease of 63.2% compared to CNY 1,027,973,946.43 in Q3 2013[37] - Total operating costs for Q3 2014 were CNY 523,540,042.90, down 48.8% from CNY 1,022,964,199.06 in the same period last year[37] - Net profit for Q3 2014 was a loss of CNY 146,628,143.09, compared to a loss of CNY 13,979,294.49 in Q3 2013[39] - Total comprehensive income for Q3 2014 was a loss of CNY 112,729,016.73, compared to a gain of CNY 51,985,869.56 in Q3 2013[39] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -861.61 million, a decrease of 206.98% compared to the previous year[10] - The company’s cash flow from financing activities decreased by 80.54% to RMB 567,915,014.33 from RMB 2,917,740,043.81, indicating a significant reduction in cash received from new borrowings[18] - Total cash outflow from operating activities was CNY 4,724,184,226.43, compared to CNY 4,283,626,649.30 in the previous year, resulting in a net cash flow from operating activities of -CNY 861,605,890.45[45] - Cash inflow from financing activities was CNY 7,182,618,628.01, down from CNY 12,136,502,350.13 in the previous year, with a net cash flow of CNY 567,915,014.33[46] - The ending balance of cash and cash equivalents was CNY 3,645,456,649.73, down from CNY 5,652,885,183.93 in the previous year[47] Assets and Liabilities - Total assets increased by 9.23% to CNY 39.74 billion compared to the end of the previous year[10] - Total current assets increased to CNY 34.22 billion from CNY 30.51 billion, representing a growth of approximately 8.8%[29] - Total liabilities rose to CNY 31.67 billion from CNY 28.41 billion, an increase of approximately 8.0%[31] - Long-term borrowings increased significantly to CNY 14.77 billion from CNY 10.57 billion, representing a growth of about 39.5%[31] - The total non-current assets increased to CNY 8.42 billion from CNY 8.11 billion, showing a growth of about 3.8%[35] Shareholder Information - The total number of shareholders reached 152,528 by the end of the reporting period[13] - The largest shareholder, Shanghai Real Estate (Group) Co., Ltd., holds 36.36% of the shares[13] Investment and Development - Investment income surged by 4453.76% to RMB 848,984,595.91 from RMB 18,643,601.67, driven by the transfer of the Gubei Business District 9-4 property[17] - The company has ongoing projects with a total planned development area of 1,000,000 square meters, with various stages of construction and completion[24] - The company’s investment in long-term equity classified as available-for-sale financial assets was valued at 6,276,078.08 yuan as of September 30, 2014[21] Market and Competition - The company has not disclosed any new product developments or market expansion strategies in this report[7] - The company has committed to avoiding competition with its controlling shareholder, Shanghai Real Estate (Group) Co., Ltd., by restructuring and transferring assets as necessary[20] - The company has completed the acquisition of 100% of Shanghai Real Estate (Group) Co., Ltd.'s stake in Shanghai Real Estate (Group) Co., Ltd., resolving competition issues[20] Rental Income - The company’s rental income for the reporting period (January to September) totaled 31,305.34 million yuan, with a rental rate of 80% for the Gubei International Garden shopping center[26] - The company’s rental properties include a shopping center with a rental rate of 100% and an office building with a rental rate of 92%[26]