SOPO(SH:600746)2018-10-30 16:00Financial Performance - Operating revenue for the first nine months was CNY 379,670,695.58, a decrease of 36.38% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 5,476,155.62, a decline of 109.76% compared to the same period last year[7] - Revenue decreased by 36.38% compared to the same period last year, primarily due to a decline in sales volume and prices of main products[16] - Year-to-date operating revenue for 2018 reached ¥379.67 million, down 36.5% from ¥596.80 million in the same period last year[25] - Net profit for Q3 2018 was ¥1.43 million, a decline of 81.5% compared to ¥7.75 million in Q3 2017[26] - Year-to-date net profit for 2018 was a loss of ¥1.27 million, compared to a profit of ¥68.22 million in the same period last year[26] - The company reported a total profit of ¥1.91 million for Q3 2018, down 81.5% from ¥10.33 million in Q3 2017[25] Cash Flow and Assets - Net cash flow from operating activities was negative CNY 30,751,034.19, a decrease of 139.09% year-on-year[6] - Cash flow from operating activities for the first nine months of 2018 was negative at ¥30.75 million, contrasting with a positive cash flow of ¥78.66 million in the same period last year[30] - Cash and cash equivalents decreased by 88.31% compared to the beginning of the year, primarily due to the purchase of bank wealth management products[14] - Cash and cash equivalents at the end of Q3 2018 stood at ¥30.12 million, significantly lower than ¥113.32 million at the end of Q3 2017[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,820[12] - The largest shareholder, Jiangsu Sop Group Co., Ltd., holds 54.81% of the shares, with 20,000,000 shares pledged[12] Asset and Liability Changes - Total assets decreased by 16.69% to CNY 541,061,342.85 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 7.46% to CNY 465,800,002.32 compared to the end of the previous year[6] - Accounts receivable increased by 313.42% compared to the beginning of the year, mainly from payments received for the disposal of projects and equipment[14] - Non-current assets due within one year decreased by 44.41% compared to the beginning of the year, primarily due to payments received from the disposal of equipment[14] - Accounts payable decreased by 53.55% compared to the beginning of the year, mainly due to increased payments to raw material suppliers[14] - Prepayments increased by 35.18% compared to the beginning of the year, primarily due to increased prepayments for raw materials[15] - Other receivables increased by 196.68% compared to the beginning of the year, mainly due to uncollected rental payments[15] Expenses and Financial Challenges - Basic earnings per share were CNY -0.0041, a decrease of 101.84% compared to the previous year[7] - The company reported a significant decline in both revenue and profit, indicating challenges in the current market environment[6][7] - Net profit is expected to decline significantly compared to the same period last year due to decreased product prices and increased raw material costs[19] - Research and development expenses for the first nine months of 2018 were recorded at ¥1,388.35, indicating ongoing investment in innovation despite financial challenges[25] - The gross profit margin for Q3 2018 was approximately 10.5%, down from 11.4% in Q3 2017, reflecting increased costs[25] - The company experienced a significant increase in financial expenses, with interest expenses recorded at ¥43,954.21 in Q3 2018 compared to ¥476,351.51 in Q3 2017[25] Future Plans - The company is planning a major asset restructuring to acquire operational assets and liabilities related to acetic acid and its derivatives[17] - Undistributed profits decreased by 42.98% compared to the beginning of the year, mainly due to cash dividends paid to shareholders and losses during the reporting period[16]