CBEST(SH:600729)2014-10-27 16:00Financial Performance - Net profit attributable to shareholders decreased by 20.34% to CNY 485,591,916.11 for the first nine months of the year[8]. - Operating revenue for the first nine months decreased by 6.39% to CNY 20,684,845,935.17 compared to the same period last year[8]. - The weighted average return on equity decreased by 6.43 percentage points to 10.84%[8]. - Total operating revenue for the period (July-September) was CNY 5,537,829,248.53, a decrease of 9.05% compared to CNY 6,086,708,945.32 in the same period last year[40]. - Net profit for the period was CNY 57,968,884.25, a decline of 57.5% compared to CNY 136,234,620.72 in the same period last year[42]. - Total profit for the period was CNY 68,680,740.82, a decrease of 57.3% from CNY 160,708,663.78 year-on-year[42]. - Earnings per share (EPS) for the period was CNY 0.14, down from CNY 0.37 in the same period last year[42]. - Investment income for the period was CNY 367,712.40, a significant drop from CNY 4,713,764.41 in the same period last year[42]. Asset and Liability Changes - Total assets decreased by 4.42% to CNY 10,954,759,504.64 compared to the end of the previous year[8]. - Total current assets decreased from ¥8,095,363,648.27 at the beginning of the year to ¥7,240,175,977.59, a decline of approximately 10.6%[32]. - Total liabilities decreased from ¥7,055,154,964.15 to ¥6,320,155,636.78, a reduction of approximately 10.4%[34]. - Total equity increased from ¥4,405,617,569.09 to ¥4,634,603,867.86, an increase of about 5.2%[34]. - Non-current assets increased from ¥3,365,408,884.97 to ¥3,714,583,527.05, an increase of approximately 10.4%[33]. - The company’s retained earnings increased from ¥2,774,658,629.17 to ¥2,996,007,043.03, an increase of about 8.0%[34]. Cash Flow and Investment Activities - Cash flow from operating activities showed a significant decline of 108.17%, resulting in a net outflow of CNY 25,795,516.38[8]. - Operating cash inflow for the first nine months of 2014 was CNY 21.64 billion, a decrease of 8.5% compared to CNY 23.65 billion in the same period last year[48]. - Net cash flow from operating activities for Q3 2014 was -CNY 25.80 million, a significant decline from CNY 315.89 million in Q3 2013[49]. - Total cash outflow from operating activities for Q3 2014 was CNY 21.66 billion, down from CNY 23.33 billion in Q3 2013[49]. - Cash and cash equivalents at the end of Q3 2014 stood at CNY 2.44 billion, a decrease from CNY 2.53 billion at the end of Q3 2013[50]. - Net cash flow from investment activities for Q3 2014 was -CNY 108.13 million, an improvement from -CNY 676.33 million in Q3 2013[49]. - Total cash inflow from investment activities for Q3 2014 was CNY 1.44 billion, compared to CNY 2.37 billion in Q3 2013[49]. - Cash outflow from investment activities for Q3 2014 was CNY 1.55 billion, down from CNY 3.04 billion in Q3 2013[49]. Shareholder and Market Information - The number of shareholders reached 22,287, with the top ten shareholders holding 82.67% of the total shares[11]. - The company raised a total of RMB 597.4152 million from the non-public offering, which has been fully utilized to supplement working capital[21]. - The company has not sold any shares from the non-public offering during the commitment period[22]. - The company has made a long-term dividend plan, details of which can be found in the announcement dated October 30, 2012[25]. Operational Independence and Compliance - The company is committed to maintaining operational independence from Chongqing Commercial Group, ensuring separation in personnel, finance, and operations[18]. - Chongqing Commercial Group is actively reducing and regulating related party transactions with the company, adhering to legal procedures for disclosure[18]. - There are no current competitive business operations by Chongqing Commercial Group that conflict with the company's main business[19]. - New Horizon Capital and associated entities are fulfilling their commitment to disclose information as required by law[20]. - Chongqing Commercial Group has committed to bear any losses arising from tax issues prior to the introduction of New Horizon Lakeview[20]. - The company is actively addressing issues related to property rights and ensuring compliance with regulations to avoid operational disruptions[24]. - The company has not faced any significant adverse effects from the lack of complete property ownership documentation[24]. - The company has committed to maintaining normal operations and mitigating any adverse impacts from potential disputes regarding leased properties[23]. Government Subsidies and Impairment Losses - The company recognized government subsidies amounting to CNY 5,506,516.65 for the year-to-date[10]. - Asset impairment losses decreased significantly by 137.24%, from ¥7,021,095.75 to -¥2,614,926.82[15]. - Investment income dropped by 71.61%, from ¥12,909,272.76 to ¥3,665,136.71[15]. - Non-operating expenses decreased by 45.35%, from ¥15,666,980.54 to ¥8,561,894.92[15]. Expense Management - Sales expenses increased to CNY 790,587,407.70, up 8.0% from CNY 732,196,233.08 in the same period last year[40]. - Management expenses rose to CNY 219,764,251.79, an increase of 25% compared to CNY 175,940,744.21 in the same period last year[40].