FIRMACO(SH:600967)2014-10-27 16:00Financial Performance - Operating revenue decreased by 5.61% to CNY 2,275,188,174.74 for the first nine months of the year[8] - Net profit attributable to shareholders decreased by 0.35% to CNY 211,321,047.41[9] - Basic earnings per share decreased by 3.05% to CNY 0.254[9] - The company reported a decrease in net profit excluding non-recurring gains and losses[9] - The weighted average return on equity decreased to 9.08% from 10.43%[9] - The net profit for the year-to-date period was CNY 6,181,527.87, compared to CNY 5,526,008.54 in the same period last year, showing an increase of 11.8%[39] - The total profit for the first nine months of 2014 was CNY 242,485,468.75, down from CNY 255,280,341.56 in the same period last year, reflecting a decrease of approximately 5.0%[41] - The net profit for Q3 2014 was a loss of CNY 8,719,981.53, compared to a profit of CNY 53,773,333.90 in Q3 2013, indicating a significant decline[41] Assets and Liabilities - Total assets increased by 2.64% to CNY 3,666,504,016.01 compared to the end of the previous year[8] - The company's total assets as of the reporting period amounted to CNY 3,666.50 million, an increase of CNY 94.23 million or 2.64% compared to the beginning of the year[16] - Current liabilities totaled CNY 1,219,667,959.79, an increase of 4.4% from CNY 1,168,141,931.67 in the previous year[32] - The company's total equity reached CNY 2,446,836,056.22, slightly up from CNY 2,404,133,438.47 at the beginning of the year, indicating a growth of 1.8%[32] Cash Flow - Net cash flow from operating activities was negative at CNY -55,051,168.51 for the first nine months[8] - Cash and cash equivalents decreased from CNY 1.54 billion to CNY 1.36 billion during the same period[30] - Cash inflow from operating activities for the first nine months of 2014 was CNY 1,264,388,454.54 RMB, slightly down from 1,285,733,492.35 RMB in the same period last year, a decrease of approximately 1.7%[52] - Cash inflow from sales of goods and services for the first nine months of 2014 was 1,228,453,770.69 RMB, slightly down from 1,247,735,797.00 RMB year-over-year, a decrease of approximately 1.5%[52] - Operating cash flow net amount for Q3 2014 was -71,884,637.03 RMB, compared to -47,508,393.88 RMB in the same period last year, indicating a decline of approximately 51%[53] Shareholder Information - The total number of shareholders reached 35,115 by the end of the reporting period[14] - The largest shareholder, Inner Mongolia First Machinery Group Co., Ltd., holds 23.62% of the shares[14] Inventory and Receivables - Accounts receivable increased by CNY 367.67 million, representing a growth of 112.67% compared to the beginning of the year, primarily due to large receivables not being collected as per contract[16] - Inventory increased by CNY 144.80 million, a rise of 38.66%, mainly due to the production of 700 C80E type open cars that have not yet been priced or contracted[16] - Accounts receivable rose significantly from CNY 326.32 million to CNY 693.99 million[30] - Inventory levels increased to CNY 370,755,757.70 from CNY 117,383,651.90, reflecting a growth of 215.5%[34] Investment Activities - The company’s investment income increased by CNY 20.63 million, primarily due to the reversal of previously recognized investment income from a subsidiary no longer included in the consolidation[18] - The company reported an investment income of CNY 20,634,726.84 for Q3 2014, which is a positive contribution amidst overall losses[40] Asset Management - The company reported an increase in asset impairment losses of CNY 8.44 million, an increase of 94.35% due to higher accounts receivable[18] - The company experienced an asset impairment loss of CNY 12,595,709.29 in Q3 2014, reflecting challenges in asset management[43] Changes in Capital Structure - Short-term borrowings decreased by CNY 65.00 million, a reduction of 76.47%, due to the exclusion of a subsidiary from the consolidated scope[17] - The company’s capital stock increased by CNY 365.70 million, an increase of 80%, due to the conversion of capital reserves into capital[17] Accounting Changes - The change in accounting policy for long-term equity investments did not impact the company's operating results or cash flows[24] - The company reclassified CNY 26.28 million of tax payables to other current assets as part of the new accounting standards[26]