Shede Spirits (SH:600702)2018-10-25 16:00Financial Performance - The company achieved operating revenue of CNY 1,589,088,694.32, an increase of 27.82% compared to the same period last year[7]. - Net profit attributable to shareholders reached CNY 273,063,584.36, reflecting a significant growth of 186.01% year-on-year[7]. - The core high-end product series saw substantial growth, with net sales revenue from liquor products amounting to CNY 132,361,770, of which CNY 104,570,230 was from Shede liquor[7]. - Excluding the impact of the revised accounting policy, the revenue from liquor products would be CNY 155,390,470, representing a 39.25% increase year-on-year[7]. - Basic earnings per share rose to CNY 0.8126, up 187.04% from CNY 0.2831 in the previous year[8]. - Net profit rose by 209.86% to ¥295,833,980.90 from ¥95,474,198.49, driven by sales growth and gains from the transfer of land use rights[15]. - The company reported a total comprehensive income of CNY 115,791,712.67 for Q3 2018, compared to CNY 33,136,958.71 in Q3 2017, marking a growth of 249.5%[30]. Cash Flow and Investments - The net cash flow from operating activities was CNY 255,540,315.03, down 20.55% compared to the same period last year[8]. - Cash inflow from operating activities amounted to CNY 2,110,173,775.95, up from CNY 1,469,815,551.74 year-on-year, representing an increase of approximately 43.6%[34]. - Cash outflow from investing activities totaled CNY 304,732,341.87, compared to CNY 88,106,742.51 in the previous year, showing a substantial increase of approximately 245.5%[34]. - Net cash flow from investing activities was negative at CNY -264,603,468.16, compared to a positive CNY 50,050,763.22 last year[34]. - Cash inflow from financing activities was CNY 485,000,000.00, down from CNY 652,953,399.82, indicating a decrease of about 25.7%[34]. - Net cash flow from financing activities was CNY -516,053,007.59, compared to CNY -37,360,478.68 in the previous year, reflecting a worsening situation[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,495,791,427.44, a decrease of 4.32% from the previous year-end[8]. - Total liabilities decreased to ¥1,859,587,722.50 from ¥2,044,070,868.62 at the beginning of the year, indicating improved financial stability[21]. - Current liabilities totaled ¥1,804,771,117.39, down from ¥1,991,469,654.14 at the start of the year[21]. - The company reported a significant reduction in cash and cash equivalents, which decreased to ¥162,677,673.64 from ¥355,003,601.13 at the beginning of the year[23]. - The company's retained earnings increased to ¥1,318,161,575.34 from ¥1,059,601,890.98, indicating strong profit retention[21]. Operational Metrics - Total operating revenue for Q3 2018 reached ¥570,878,968.93, a 56.8% increase compared to ¥364,149,708.22 in Q3 2017[28]. - Total operating costs for Q3 2018 were ¥442,184,502.27, up 42.0% from ¥311,423,716.63 in Q3 2017[28]. - The operating profit for Q3 2018 was CNY 129,258,396.46, compared to CNY 55,872,300.55 in Q3 2017, reflecting an increase of 131.0%[29]. - The total operating costs for the first nine months of 2018 were CNY 306,688,872.39, compared to CNY 297,719,057.09 in the previous year, indicating a slight increase of 3.3%[32]. Research and Development - Research and development expenses decreased by 87.17% to ¥917,260.86 from ¥7,148,892.34, primarily due to the absence of R&D expenses from the merger with Pacific Pharmaceutical Co., Ltd.[15]. - Research and development expenses for Q3 2018 were CNY 799,989.71, showing a decrease from CNY 1,645,080.55 in the same quarter last year[29].