Cofco Sugar(SH:600737)2015-10-29 16:00Financial Performance - Operating revenue for the first nine months reached CNY 8.50 billion, a 39.09% increase year-on-year[7] - Net profit attributable to shareholders rose by 83.17% to CNY 74.15 million compared to the same period last year[7] - Basic earnings per share increased by 83.25% to CNY 0.0361 per share[7] - The weighted average return on equity increased by 0.62 percentage points to 1.29%[7] - The company's operating revenue for the first nine months reached RMB 849,708.06 million, an increase of 39.09% compared to RMB 610,909.09 million in the same period last year[14] - The net profit attributable to the parent company was RMB 7,415.40 million, reflecting an 83.17% increase from RMB 4,048.39 million year-on-year[14] - The total operating revenue for Q3 2015 was approximately CNY 548.45 million, an increase of 75.7% compared to CNY 312.45 million in Q3 2014[31] - The net profit attributable to the parent company for Q3 2015 was CNY 97.95 million, up from CNY 33.71 million in the same period last year, representing a growth of 189.5%[30] - The total comprehensive income for Q3 2015 was CNY 246.10 million, compared to CNY 2.42 million in Q3 2014, showing a substantial increase[30] Cash Flow - Cash flow from operating activities improved significantly to CNY 152.88 million, compared to a negative CNY 466.03 million in the previous year[7] - The net cash flow from operating activities for the first nine months of 2015 was CNY 15,288.39 million, a significant increase compared to the previous year due to higher sugar sales and prices[15] - The net cash flow from investing activities was CNY -25,485.19 million, primarily due to increased expenditures on new projects and greater payments than receipts from financial investments[15] - The net cash flow from financing activities reached CNY 52,847.82 million, mainly driven by loan repayments and increased interest payments compared to the previous year[15] - The net cash flow from operating activities for the first nine months of 2015 was CNY 152.88 million, a significant improvement from a net outflow of CNY 466.03 million in the same period last year[36] - The net cash flow from investing activities for the first nine months of 2015 was a negative CNY 254.85 million, compared to a positive CNY 215.82 million in the same period last year[37] - The net cash flow from financing activities for the first nine months of 2015 was CNY 528.48 million, down from CNY 1.66 billion in the same period last year[37] Assets and Liabilities - Total assets increased by 6.41% to CNY 15.31 billion compared to the end of the previous year[7] - Total liabilities rose to ¥9,439,788,812.23 compared to ¥8,414,666,032.55, an increase of about 12.1%[23] - Current liabilities totaled ¥9,252,048,310.50, up from ¥8,210,837,298.92, indicating a rise of approximately 12.7%[22] - Non-current assets decreased to ¥5,362,309,699.87 from ¥5,550,870,977.06, a decline of about 3.4%[22] - Total current assets amounted to CNY 9,949.52 million, an increase from CNY 8,838.60 million at the beginning of the year[21] - Cash and cash equivalents increased to CNY 1,789.77 million from CNY 1,506.73 million at the beginning of the year[21] Shareholder Information - The total number of shareholders reached 223,150 by the end of the reporting period[9] - The largest shareholder, COFCO Group, holds 51.53% of the shares, amounting to 1,057,283,605 shares[10] Government and Non-Recurring Items - Government subsidies recognized in the current period amounted to CNY 8.65 million, contributing to the overall financial performance[8] - Non-recurring gains and losses for the period totaled CNY 83.74 million, significantly impacting net profit[8] Operational Changes and Future Plans - The company has initiated new projects, including the construction of a new sugar refining facility in Tangshan, which contributed to an increase in construction in progress by RMB 11,890.84 million, a 102.89% rise[12] - The company plans to expand its market presence and enhance product offerings in the upcoming quarters, focusing on new technologies and product development[14] - The company has committed to avoiding competition with COFCO Tunhe in the sugar and tomato industries, positioning itself as a key platform for operations and integration in these sectors[16] - The company plans to inject its Inner Mongolia subsidiary into COFCO Tunhe within one year after achieving a weighted average return on equity of no less than 8% over three years[16] Other Financial Metrics - The company experienced a 982.10% increase in asset impairment losses, amounting to RMB 6,554.40 million, primarily due to the full provision for bad debts related to certain agricultural companies[14] - The total operating costs for Q3 2015 were CNY 2.78 billion, compared to CNY 2.31 billion in Q3 2014, reflecting an increase of 20.3%[29] - The basic and diluted earnings per share for Q3 2015 were both CNY 0.0477, compared to CNY 0.0164 in Q3 2014, indicating a growth of 190.9%[31] - The investment income for Q3 2015 was CNY 31.34 million, a decrease from CNY 76.56 million in Q3 2014, reflecting a decline of 59%[29]