Yibin paper(SH:600793)2015-10-28 16:00Financial Performance - Operating revenue for the first nine months was CNY 49,332.45, reflecting a year-on-year increase of 2.42% from CNY 48,167.57[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 12,275,232.98, compared to a loss of CNY 7,033,282.65 in the same period last year[6] - The company reported a total comprehensive loss of CNY 12,275.23 million for the first nine months of 2015, compared to a loss of CNY 7,033.28 million in the same period last year[20] - Net profit for Q3 2015 was a loss of CNY 1,059.18 million, compared to a loss of CNY 2,856.52 million in the same period last year, indicating an improvement[20] - The company incurred a total operating cost of CNY 77,109.97 million for the first nine months of 2015, slightly down from CNY 77,790.51 million in the same period last year[19] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,088,428,037.89, an increase of 1.09% compared to the end of the previous year[6] - The total assets increased slightly from CNY 3,055,031,374.55 to CNY 3,088,428,037.89, reflecting a growth of 1.09%[17] - The total liabilities increased from CNY 3,013,847,138.20 to CNY 3,059,519,034.52, marking a rise of 1.52%[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 4,371[10] - The largest shareholder, Yibin State-owned Assets Management Co., Ltd., held 39,776,583 shares, accounting for 37.77% of the total shares[11] Cash Flow and Investments - The net cash flow from operating activities for the first nine months was CNY 5,577,090.31, a significant improvement from a negative cash flow of CNY 4,937,396.92 in the previous year[6] - The net cash flow from operating activities for the first nine months of 2015 was CNY 5,577.09 million, a significant recovery from a negative cash flow of CNY 4,937.40 million in the same period last year[22] - Cash inflow from financing activities for the first nine months of 2015 was CNY 1,065 million, compared to CNY 1,170 million in the same period last year[23] - The company’s cash outflow from investment activities for the first nine months of 2015 was CNY 468,399.34 million, down from CNY 796,690.53 million in the same period last year[23] Operational Changes - The company received government subsidies amounting to CNY 634,000.00 during the reporting period, which is closely related to its normal business operations[8] - The company anticipates that the cumulative net profit until the next reporting period may increase losses due to the transition of construction projects from debugging to trial production[13] - The company’s management indicated a focus on improving operational efficiency and reducing costs in future quarters[19] Changes in Financial Metrics - Basic and diluted earnings per share were both -CNY 0.1166, compared to -CNY 0.0668 in the same period last year[7] - The weighted average return on net assets decreased by 11.0354 percentage points to -35.0254%[7] - The basic and diluted earnings per share for Q3 2015 were both CNY -0.0101, an improvement from CNY -0.0271 in Q3 2014[20] Changes in Assets - Cash and cash equivalents decreased by 79.19% from CNY 606,247,949.75 to CNY 126,137,242.52 due to the expiration of notes[12] - Accounts receivable increased significantly by 725.93%, from CNY 5,673,823.92 to CNY 46,861,574.70, primarily due to an increase in receivables from customers[12] - Inventory rose by 118.43%, from CNY 60,161,167.23 to CNY 131,409,004.39, attributed to increased raw material purchases[12] - Short-term borrowings decreased by 84.17%, from CNY 417,000,000.00 to CNY 66,000,000.00, due to the company's entrusted loans[12] - Long-term borrowings increased by 176.06%, from CNY 568,000,000.00 to CNY 1,568,000,000.00, resulting from bank loans entrusted by Yibin State-owned Assets Management Co., Ltd.[13] - Other payables decreased by 67.38%, from CNY 285,191,044.83 to CNY 93,035,165.23, attributed to the company's outstanding debts[17] Management Expenses - The company reported a significant increase in management expenses by 1,032.09%, from CNY 1,499,677.76 to CNY 16,977,761.93, mainly due to increased depreciation[13]