大商股份(600694) - 2015 Q3 - 季度财报

Important Notice Statement on Report Authenticity The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, assuming corresponding legal responsibilities, and confirm it is unaudited - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal liabilities[5] - This company's third-quarter report is unaudited[5] Company's Key Financial Data and Shareholder Changes Key Financial Data As of Q3 2015, total assets increased by 7.50% from year-end, while revenue decreased by 3.14% and net profit attributable to shareholders significantly dropped by 38.17%, with operating cash flow growing 4.08% Key Financial Data for Q1-Q3 2015 | Indicator | Jan-Sep 2015 (CNY) | Jan-Sep 2014 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 23,671,171,980.32 | 24,438,768,967.81 | -3.14% | | Net Profit Attributable to Shareholders (CNY) | 635,715,537.31 | 1,028,167,977.61 | -38.17% | | Net Cash Flow from Operating Activities (CNY) | 1,317,836,966.87 | 1,266,140,653.66 | 4.08% | | Basic Earnings Per Share (CNY/share) | 2.16 | 3.50 | -38.29% | | Weighted Average Return on Net Assets (%) | 10.10% | 18.24% | Decreased by 8.14 percentage points | | Indicator | Sep 30, 2015 (CNY) | Year-end 2014 (CNY) | Period-end vs. Year-start Change (%) | | Total Assets (CNY) | 15,894,043,839.41 | 14,785,325,287.91 | 7.50% | | Net Assets Attributable to Shareholders (CNY) | 6,362,640,929.10 | 6,097,010,894.57 | 4.36% | Non-recurring Gains and Losses for Q1-Q3 2015 | Item | Amount from Year-start to End of Reporting Period (CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -204,109.44 | | Government Grants Included in Current Profit/Loss | 8,725,542.43 | | Other Non-operating Income and Expenses | 21,122,043.64 | | Income Tax Impact | -6,932,430.43 | | Impact on Minority Interests (After Tax) | -1,546,046.12 | | Total | 21,165,000.08 | Shareholder Holdings As of the reporting period end, the company had 18,038 shareholders, with Dalian Dashang International Co. and Guoshang Asset Management Co. as the top two, holding 8.80% and 8.52% respectively, including various institutional investors among the top ten - As of the end of the reporting period, the company had a total of 18,038 shareholders[9] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage of Total Share Capital (%) | | :--- | :--- | :--- | | Dalian Dashang International Co., Ltd. | 25,859,580 | 8.80 | | Dalian Guoshang Asset Management Co., Ltd. | 25,013,382 | 8.52 | | Shenzhen Maoye Commercial Building Co., Ltd. | 14,685,923 | 5.00 | | Agricultural Bank of China... E Fund Ruihui... | 10,143,412 | 3.45 | | National Social Security Fund 104 Portfolio | 9,389,803 | 3.20 | | Bank of China... Fullgoal Reform Power... | 9,000,000 | 3.06 | | Central Huijin Investment Ltd. | 8,721,300 | 2.97 | | Industrial and Commercial Bank of China... Fullgoal Tianhui... | 6,000,000 | 2.04 | | Dashang Group Co., Ltd. | 5,631,303 | 1.92 | | China Securities Finance Corporation Limited | 5,047,979 | 1.72 | - Shareholder Relationship Explanation: Dalian Dashang International Co., Ltd. is a subsidiary of Dashang Group Co., Ltd., and they are parties acting in concert[11] Preferred Shareholder Information The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders at the end of this reporting period[12] Significant Events Significant Changes and Reasons for Key Financial Statement Items and Indicators During the reporting period, several financial statement items changed, with increases in other receivables, inventory, and construction in progress due to new subsidiaries and project investments, and higher short-term and long-term borrowings also linked to new subsidiaries and loans, while a significant increase in asset impairment losses, particularly goodwill impairment, contributed to the net profit decline Explanation of Changes in Key Accounting Items | Item | Reason for Change | | :--- | :--- | | Other Receivables / Inventory / Short-term Borrowings | Due to newly added subsidiaries in this period | | Construction in Progress | Due to new renovation projects in this period | | Notes Payable | Due to an increase in unaccepted bills in this period | | Long-term Borrowings | Due to an increase in long-term borrowings in this period | | Financial Expenses | Due to an increase in borrowing interest in this period | | Asset Impairment Losses | Due to goodwill impairment provision in this period | | Net Profit Attributable to Shareholders | Due to a decrease in net profit attributable to shareholders in this period | Fulfillment of Commitments To maintain capital market stability, major shareholders Dashang Group and Guoshang Co. committed not to reduce their shareholdings for six months from July 2015; Dashang Group not only complied but also increased its stake by 1.54%, while Guoshang Co. also fulfilled its non-reduction commitment - Shareholder Dashang Group Co., Ltd. committed not to reduce its holdings for six months from July 8, 2015, and increased its stake by 4,513,250 shares (1.54% of total share capital) during the reporting period[13] - Shareholder Dalian Guoshang Asset Management Co., Ltd. committed not to reduce its holdings for six months from July 10, 2015, and did not reduce company shares during the reporting period[13][14] Performance Forecast Warning The company has not issued any warning regarding a potential cumulative net profit loss or significant change compared to the prior year from the beginning of the year to the end of the next reporting period - The company has not issued a forecast warning for significant changes or losses in cumulative net profit from the beginning of the year to the end of the next reporting period[15] Appendix Financial Statements This section provides the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q3 2015, offering detailed data for analyzing financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2015, total assets were CNY 15.89 billion, up 7.5% from year-start; total liabilities were CNY 9.24 billion, up 9.4%; and equity attributable to parent company owners was CNY 6.36 billion, up 4.36% Key Items from Consolidated Balance Sheet (As of September 30, 2015) | Item | Period-end Balance (CNY) | Year-start Balance (CNY) | | :--- | :--- | :--- | | Assets | | | | Total Current Assets | 8,815,927,612.62 | 8,234,523,832.21 | | Total Non-current Assets | 7,078,116,226.79 | 6,550,801,455.70 | | Total Assets | 15,894,043,839.41 | 14,785,325,287.91 | | Liabilities and Owners' Equity | | | | Total Current Liabilities | 7,824,460,485.68 | 7,376,390,582.92 | | Total Non-current Liabilities | 1,414,286,282.06 | 1,068,476,507.46 | | Total Liabilities | 9,238,746,767.74 | 8,444,867,090.38 | | Total Equity Attributable to Parent Company Owners | 6,362,640,929.10 | 6,097,010,894.57 | | Total Owners' Equity | 6,655,297,071.67 | 6,340,458,197.53 | | Total Liabilities and Owners' Equity | 15,894,043,839.41 | 14,785,325,287.91 | Consolidated Income Statement In Q1-Q3 2015, total operating revenue was CNY 23.67 billion, down 3.14% year-on-year, and total operating costs were CNY 22.76 billion, down 1.26%; operating profit decreased by 34.4% due to factors like a significant increase in asset impairment losses, resulting in net profit attributable to parent company owners of CNY 635.72 million, a 38.17% year-on-year decline Key Items from Consolidated Income Statement (January-September 2015) | Item | Jan-Sep 2015 (CNY) | Jan-Sep 2014 (CNY) | | :--- | :--- | :--- | | I. Total Operating Revenue | 23,671,171,980.32 | 24,438,768,967.81 | | II. Total Operating Costs | 22,764,102,722.59 | 23,055,094,410.96 | | Including: Asset Impairment Losses | 248,471,493.55 | -46,056,310.56 | | III. Operating Profit | 908,096,921.72 | 1,384,653,267.08 | | IV. Total Profit | 937,740,398.35 | 1,417,293,233.58 | | V. Net Profit | 656,257,447.53 | 1,099,296,759.69 | | Net Profit Attributable to Parent Company Owners | 635,715,537.31 | 1,028,167,977.61 | Consolidated Cash Flow Statement In Q1-Q3 2015, net cash flow from operating activities was CNY 1.32 billion, up 4.08%, indicating stable core business cash flow; investing activities resulted in a net outflow of CNY 776.80 million due to asset purchases and subsidiary acquisitions; financing activities had a net outflow of CNY 672.11 million as debt repayments exceeded new borrowings, leading to a CNY 133.47 million decrease in period-end cash and cash equivalents Key Items from Consolidated Cash Flow Statement (January-September 2015) | Item | Jan-Sep 2015 (CNY) | Jan-Sep 2014 (CNY) | | :--- | :--- | :--- | | I. Net Cash Flow from Operating Activities | 1,317,836,966.87 | 1,266,140,653.66 | | II. Net Cash Flow from Investing Activities | -776,797,549.03 | -315,302,070.05 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, etc. | 497,098,249.05 | 313,174,442.89 | | Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | 281,872,159.07 | - | | III. Net Cash Flow from Financing Activities | -672,111,606.52 | -865,161,498.21 | | V. Net Increase in Cash and Cash Equivalents | -133,466,344.05 | 79,544,898.06 | Audit Report This quarterly report has not been audited by a certified public accountant - This quarterly financial report is unaudited[39]