Whirlpool (China) (SH:600983)2014-10-27 16:00Financial Performance - Net profit attributable to shareholders decreased by 6.01% to CNY 303,363,595.54 for the first nine months of the year[8]. - Basic earnings per share decreased by 6.56% to CNY 0.57[10]. - The company's operating revenue for Q3 2014 was CNY 1,476,645,315.09, a slight decrease of 1.2% compared to CNY 1,494,251,871.82 in Q3 2013[30]. - The net profit for Q3 2014 was CNY 106,707,845.33, down 16.9% from CNY 128,444,764.52 in the same period last year[31]. - The company reported a total comprehensive income of CNY 106,707,845.33 for Q3 2014, down from CNY 128,444,764.52 in the same period last year[31]. Assets and Liabilities - Total assets decreased by 8.35% to CNY 5,195,466,013.09 compared to the end of the previous year[8]. - The total liabilities decreased to CNY 3,012,017,294.23 from CNY 3,745,813,681.57 at the beginning of the year, indicating a reduction in financial obligations[28]. - The company's total equity increased to CNY 2,183,448,718.86 from CNY 1,922,709,123.32 at the beginning of the year, reflecting growth in shareholder value[29]. - The company's cash and cash equivalents were CNY 741,103,491.96, down from CNY 1,010,981,443.26 at the beginning of the year, reflecting a liquidity contraction[27]. - The inventory level decreased to CNY 846,374,181.12 from CNY 1,049,809,391.73, showing a reduction in stock levels[27]. Cash Flow - Operating cash flow turned negative at CNY -48,040,074.02, a decline of 116.77% compared to the same period last year[8]. - The net cash flow from operating activities dropped by 116.77% to RMB -48,040,074.02, largely due to increased advance payments and promotional expenses[18]. - Operating cash inflow for the year-to-date period reached ¥4,651,753,814.73, an increase of 6.2% compared to ¥4,379,280,055.09 in the previous year[33]. - Operating cash outflow totaled ¥4,699,793,888.75, up 14.8% from ¥4,092,816,631.97 year-on-year[33]. - The net increase in cash and cash equivalents was negative at ¥-269,877,951.30, contrasting with a positive increase of ¥200,534,891.46 in the same period last year[34]. Shareholder Information - The total number of shareholders reached 26,420 by the end of the reporting period[15]. - The largest shareholder, Hefei State-owned Assets Holding Co., Ltd., holds 33.57% of the shares[15]. - Whirlpool China became the controlling shareholder of the company after acquiring 51.00% of the shares through the non-public offering and share transfer[20]. Investments and Expenses - The company received government subsidies amounting to CNY 14,692,137.63 for the first nine months[12]. - The company's prepayments increased by 34.07% to RMB 144,147,587.05 due to higher advance payments for raw materials[17]. - Construction in progress surged by 200.83% to RMB 143,919,709.32, primarily due to increased investments in energy-efficient high-end refrigerators and microwave projects[17]. - Accounts payable decreased by 33.58% to RMB 798,440,768.49, attributed to the implementation of a payment settlement system and reduced procurement[17]. - The company reported a 277.45% increase in financial expenses, amounting to RMB -12,995,977.82, driven by higher bank deposit interest income and foreign exchange gains[17]. - Investment income plummeted by 99.97% to RMB -150.00, mainly due to significant losses from affiliated enterprises in the previous year[17].