AVIC SAC(SH:600760)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY -94,603,401.79, an improvement from CNY -127,918,189.79 in the same period last year[9] - Operating income for the first nine months was CNY 1,952,494,297.91, down 6.38% year-on-year[8] - The total profit for the period decreased by 215.03% to a loss of CNY 96,968,319.81, mainly due to the recognition of compensation income in the previous year by a subsidiary[20] - The company reported a net loss of ¥249,216,618.28 for the period, compared to a loss of ¥162,591,632.13 in the previous year[35] - The total comprehensive income for Q3 2014 was a loss of ¥39,497,492.84, compared to a loss of ¥28,376,230.48 in Q3 2013[44] - The total profit for the first nine months of 2014 was a loss of ¥96,968,319.81, compared to a loss of ¥30,780,448.09 in the same period last year[44] Cash Flow - Net cash flow from operating activities increased by 119.02% to CNY 66,594,578.13 compared to the same period last year[8] - Cash inflows from operating activities totaled ¥1,426,501,993.68 for the first nine months of 2014, compared to ¥1,293,350,810.26 in the previous year[46] - Cash flow from operating activities for the first nine months of 2014 was ¥66,594,578.13, an increase from ¥30,405,954.59 in the previous year[47] - Operating cash inflow for the first nine months was ¥353,477,514.65, down from ¥387,083,883.09 in the previous year[51] - Net cash flow from operating activities was ¥30,922,333.82, compared to ¥35,792,079.36 in the same period last year[51] Assets and Liabilities - Total assets decreased by 8.63% to CNY 3,237,791,965.48 compared to the end of the previous year[8] - The company's total assets decreased to ¥3,237,791,965.48 from ¥3,543,546,922.25 at the beginning of the year, reflecting a decline of 8.6%[35] - Total liabilities decreased to ¥2,351,631,588.84 from ¥2,558,853,495.65, a reduction of 8.1%[35] - The company's equity attributable to shareholders decreased to ¥662,447,482.37 from ¥749,072,468.52, a decline of 11.5%[35] - Cash and cash equivalents decreased to ¥47,362,552.26 from ¥70,565,289.27, a drop of 33.0%[37] Shareholder Information - The total number of shareholders reached 55,150 by the end of the reporting period[14] - The largest shareholder, Jincheng Group, holds 15.97% of the shares, totaling 55,095,716 shares[14] Operational Changes - The company completed a restructuring by injecting assets related to specialized vehicle manufacturing into AVIC Black Panther, ceasing operations in that sector[27] - The company has committed to not engaging in any business activities that may compete with AVIC Black Panther or its controlled enterprises[27] Legal Matters - The company is involved in a lawsuit regarding land use rights, with a court hearing scheduled for December 10, 2014[24] Accounting and Financial Standards - The implementation of new accounting standards from July 1, 2014, will not affect the financial statement amounts prior to the policy change[28] - The adjustment of long-term equity investments resulted in a decrease of ¥500,000.00, with a corresponding increase in available-for-sale financial assets by the same amount[30] Inventory and Receivables - Accounts receivable decreased by 60.71% to CNY 85,968,380.45, primarily due to the company receiving fewer bills than it paid during the period[17] - Inventory increased from ¥493,167,805.13 to ¥567,903,279.52, reflecting a rise of approximately 15.1%[33] - Accounts receivable decreased from ¥462,328,577.65 at the beginning of the year to ¥337,417,687.17, a reduction of about 27%[33] Financial Expenses and Costs - The company incurred financial expenses of ¥2,618,797.73 in Q3 2014, a decrease from ¥6,627,334.48 in the same quarter last year[44] - The company reported operating costs of ¥122,634,458.09 for Q3 2014, down from ¥205,561,067.06 in Q3 2013, indicating cost management efforts[44]