BAIDA GROUP(SH:600865)2014-10-30 16:00Financial Performance - Operating income for the first nine months was CNY 688,989,638.64, a decrease of 23.75% year-on-year [9]. - Net profit attributable to shareholders increased by 108.72% to CNY 127,277,061.32 compared to the same period last year [9]. - Basic earnings per share rose by 108.64% to CNY 0.338 [9]. - Total operating revenue for Q3 2014 was ¥161,211,567.69, a decrease of 26.1% compared to ¥218,259,470.16 in Q3 2013 [44]. - Net profit for Q3 2014 reached ¥34,702,885.48, an increase of 150.1% compared to ¥13,850,063.98 in Q3 2013 [45]. - Total profit for Q3 2014 was ¥42,094,024.29, an increase of 107.1% from ¥20,311,903.15 in Q3 2013 [45]. Cash Flow - Net cash flow from operating activities dropped significantly by 99.66% to CNY 2,055,586.25 [9]. - Cash flow from operating activities for the first nine months of 2014 was ¥791,500,755.66, a decrease of 58.5% from ¥1,904,431,608.76 in the same period last year [49]. - Net cash flow from operating activities for Q3 2014 was 6,078,775.42 RMB, a decrease from 25,252,160.26 RMB in the same period last year [54]. - Total cash inflow from investment activities reached 1,814,620,999.56 RMB, compared to 978,833,366.95 RMB in the previous year, indicating a significant increase [54]. - Net cash flow from financing activities was -1,095,157,395.17 RMB, worsening from -262,692,923.18 RMB in the same quarter last year [55]. Assets and Liabilities - Total assets decreased by 37.76% to CNY 1,750,189,634.47 compared to the end of the previous year [8]. - The company’s net assets attributable to shareholders increased by 7.35% to CNY 1,309,786,401.52 compared to the end of the previous year [8]. - Total liabilities decreased from CNY 1,591,690,293.76 to CNY 440,403,232.95, reflecting a stronger balance sheet [39]. - Current liabilities dropped significantly from CNY 1,112,485,609.13 to CNY 190,146,744.15, indicating improved liquidity [39]. - Non-current assets increased from CNY 717,049,230.08 to CNY 975,475,036.29, reflecting ongoing investments [39]. Shareholder Information - The total number of shareholders reached 23,215 by the end of the reporting period [13]. - The largest shareholder, Xizi International Holdings, holds 29.98% of the shares [13]. Receivables and Inventory - Accounts receivable increased by 62.94% to ¥26,842,567.93 from ¥16,473,542.01 [16]. - Inventory decreased by 68.15% to ¥2,923,196.08 from ¥9,178,271.20 [16]. - The company’s accounts receivable increased from CNY 16,473,542.01 at the beginning of the year to CNY 26,842,567.93 by the end of the reporting period [37]. - The company’s inventory decreased from CNY 9,178,271.20 at the beginning of the year to CNY 2,923,196.08 by the end of the reporting period [37]. Expenses - Sales expenses decreased by 38.38% to ¥36,338,439.93 from ¥58,976,468.32 [19]. - Management expenses for the first nine months of 2014 were ¥60,610,045.21, a decrease of 17.7% compared to ¥73,565,266.85 in the same period last year [44]. Investment Activities - Investment income increased by 778.34% to ¥32,980,816.04 from ¥3,754,918.43 [19]. - Investment income for Q3 2014 was ¥8,851,978.14, significantly higher than ¥318,096.51 in Q3 2013 [45]. Other Financial Activities - The company completed a cash capital increase of CNY 200 million in Zhejiang Baida Asset Management Co., Ltd., raising its registered capital from CNY 200 million to CNY 400 million [31]. - The company provided a bank guarantee of up to CNY 500 million for Hangzhou Baida Real Estate Co., Ltd., with an actual occurrence of CNY 450 million during the reporting period [28].