STEC(SH:600820)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders rose by 4.35% to CNY 935.77 million for the first nine months[7] - Operating revenue for the first nine months increased by 8.87% to CNY 16.02 billion compared to the same period last year[7] - The company's equity attributable to shareholders reached CNY 14.01 billion, up from CNY 12.42 billion, reflecting an increase of about 12.8%[24] - Net profit for the first nine months of 2014 was ¥1,196,562,527.58, up 69.66% from ¥705,226,060.37 in the same period last year[32] - The company reported a total profit of ¥432,065,050.96, which is a 14.8% increase from ¥376,442,745.38 in the same quarter last year[30] Assets and Liabilities - Total assets increased by 11.08% to CNY 63.37 billion compared to the end of the previous year[7] - The company’s intangible assets increased significantly by 1261.87% to CNY 8.74 billion due to project completions[13] - Total liabilities amounted to CNY 48.85 billion, compared to CNY 44.55 billion at the beginning of the year, indicating an increase of around 9.3%[24] - Long-term borrowings increased significantly to CNY 18.99 billion from CNY 12.88 billion, representing a growth of approximately 47.5%[24] - The largest shareholder, Shanghai Urban Construction Group, holds 47.97% of the shares[11] Cash Flow - Cash flow from operating activities turned positive with a net amount of CNY 1.20 billion, compared to a negative cash flow in the previous year[7] - Cash flow from operating activities for the first nine months of 2014 was ¥1,202,466,243.47, a significant improvement from a negative cash flow of ¥1,985,185,233.55 in the same period last year[35] - Operating cash inflow for the year-to-date period reached ¥7,633,988,814.30, an increase of 17.6% compared to ¥6,492,545,439.79 in the previous year[38] - Net cash flow from operating activities improved to ¥954,741,984.32, a significant recovery from a net outflow of ¥970,911,814.00 in the same period last year[38] Shareholder Information - The number of shareholders reached 118,751 by the end of the reporting period[11] - The company has committed to avoiding new engineering contracts post-major asset restructuring, focusing on existing projects[16] Cost Management - Sales expenses decreased by 32.68% to CNY 18.71 million, indicating improved cost management[14] - The company reported a decrease in accounts receivable from CNY 10.98 billion to CNY 10.68 billion, a decline of about 2.8%[23] Market and Future Outlook - The company plans to continue focusing on market expansion and new technology development to drive future growth[30] - The cumulative net profit forecast for 2014 is expected to meet or exceed the assessed profit figures from previous years, ensuring compliance with profit commitments[16] Changes in Financial Position - The weighted average return on net assets decreased by 0.73 percentage points to 7.19%[7] - The company reported a significant decrease of 95.01% in accounts receivable due to the maturity of notes receivable[13] - The company received government subsidies amounting to CNY 144.70 million during the reporting period[10] - The company's capital stock increased by 119.34% to CNY 2.85 billion, resulting from stock issuance and conversion during the period[14] Investment Activities - Investment activities resulted in a net cash outflow of ¥4,423,821,759.54 for the first nine months of 2014, compared to a smaller outflow of ¥572,476,127.99 in the same period last year[36] - The company reported an investment income of ¥730,765,128.56 for the first nine months of 2014, significantly higher than ¥369,701,995.61 in the same period last year[32]