Smarter Energy(SH:600869)2016-10-30 16:00Financial Performance - The total net assets attributable to shareholders reached RMB 5.625 billion, an increase of 35.28% compared to the end of the previous year[5]. - The operating revenue for the reporting period was RMB 8.729 billion, a year-on-year growth of 4.75%, with smart energy system services and products generating RMB 1.395 billion, up 640.75%[5]. - The net profit attributable to shareholders was RMB 284 million, reflecting a year-on-year increase of 13.66%, while the net profit after deducting non-recurring gains and losses was RMB 270 million, up 29.13%[5]. - The total revenue for the first nine months of 2016 reached RMB 869,486.75 million, representing a year-on-year increase of 4.71%[15]. - The net profit for the company was RMB 4,280.92 million, reflecting a year-on-year increase of 15.75%[16]. - The total revenue for the first nine months reached ¥8,729,342,300.76, an increase of 4.75% compared to ¥8,333,718,310.60 in the same period last year[50]. - Operating profit for the first nine months was ¥297,705,216.77, up from ¥288,755,074.66 year-on-year, reflecting a growth of 3.28%[50]. - The company reported a total profit of CNY 1,892,917.26 for the first nine months of 2016, down from CNY 29,860,964.98 in the previous year[52]. Revenue Breakdown - The company secured contracts worth RMB 1.759 billion from major clients including the State Grid and Southern Power Grid during the reporting period[5]. - Revenue from the East China region was RMB 508,077.83 million, with a growth of 12.04% year-on-year[15]. - The North China region experienced a decline in revenue by 12.40%, totaling RMB 87,305.94 million[15]. - The company's energy system segment generated RMB 55,196.82 million, showing a significant increase of 348.33%[13]. - The smart device segment reported revenue of RMB 16,920.26 million, up by 159.33%[13]. - The vertical B2B e-commerce platform achieved sales of RMB 3.277 billion from January to September, marking a growth of 56.64%[9]. - The smart equipment business generated RMB 169 million in revenue, a significant increase of 159.33% year-on-year[9]. Asset Management - The total assets at the end of the reporting period were RMB 14.607 billion, representing a growth of 10.98% compared to the end of the previous year[8]. - The company's current assets totaled CNY 9,993,873,529.83, up from CNY 8,567,761,624.29 at the beginning of the year, indicating a growth of approximately 16.6%[42]. - The cash and cash equivalents decreased to CNY 2,142,114,876.06 from CNY 2,497,857,719.62, reflecting a decline of about 14.3%[41]. - Accounts receivable increased to CNY 4,697,294,467.92 from CNY 3,975,827,581.27, representing a growth of approximately 18.1%[41]. - Inventory rose significantly to CNY 1,797,845,642.43 from CNY 1,133,392,363.27, marking an increase of about 58.5%[41]. - Total liabilities decreased to CNY 8,733,749,047.78 from CNY 8,806,342,937.09, a reduction of approximately 0.8%[43]. - The company's equity attributable to shareholders increased to CNY 5,625,423,032.11 from CNY 4,158,507,261.29, reflecting a growth of about 35.3%[43]. Financing Activities - The company issued 1.3 billion yuan in corporate bonds during the reporting period, resulting in a payable bond balance of 129,124.71 million[21]. - The company approved the issuance of 460 million RMB in corporate bonds to enhance working capital and adjust its debt structure[30]. - The company raised 1,199,999,996.80 yuan through a non-public offering of 136,363,636 shares at 8.8 yuan per share, enhancing its financial strength and risk resistance[22]. - The company plans to raise a total of up to 311.39 million RMB through a private placement of shares, with net proceeds intended for the R&D and industrialization of high-energy density lithium batteries[28]. Cash Flow Management - Operating cash flow from operating activities was -4,915.11 million, a decrease of 114.53% year-on-year, due to increased tax and salary payments[21]. - The company’s cash flow from operating activities for the first nine months resulted in a net outflow of -23,164,698.15 RMB, compared to a net inflow of 250,067,718.53 RMB in the previous year[59]. - Total cash inflow from financing activities was 4,419,470,184.63 RMB, while cash outflow was 3,369,173,198.24 RMB, resulting in a net cash flow of 1,050,296,986.39 RMB[57]. - The company reported a net cash flow from investment activities of -636,008,236.83 RMB, compared to -255,228,430.09 RMB in the same period last year[56]. Shareholder and Governance - The total number of shareholders at the end of the reporting period was 72,814[18]. - The largest shareholder, Far East Holding Group Co., Ltd., held 1,490,084,782 shares, accounting for 67.14% of total shares[18]. - The company has committed to ensuring that its governance structure remains independent from its controlling shareholder, Far East Holdings Group[34]. - The company emphasized its commitment to independent operations, ensuring personnel, assets, and financial independence from its controlling shareholder[36]. - The company has pledged to protect the interests of its shareholders by not engaging in any business that directly competes with its core operations[36]. - The company guarantees that any related transactions will be conducted at fair market prices, ensuring no harm to the interests of other shareholders[38]. Strategic Initiatives - The company plans to continue expanding its market presence and enhance its core competitiveness in the smart energy and smart city systems sector[5]. - The company is focusing on expanding its market presence and developing new technologies in the energy sector[20]. - The company aims to strengthen its layout in smart grid operation, energy storage equipment, and distributed energy sectors after the completion of its fundraising projects[28]. - The establishment of the Far East Materials Trading Center aims to expand the company's e-commerce product line and improve transaction volume and platform traffic[24]. - Far East Smart Energy plans to enhance its market position by developing new technologies and products, with priority rights for production and sales related to these innovations[36].