Whirlpool (China) (SH:600983)2016-10-26 16:00Financial Performance - Net profit attributable to shareholders decreased by 28.60% to CNY 249,339,353.33 year-on-year[7] - Operating revenue declined by 5.20% to CNY 4,059,855,237.47 for the first nine months of the year[7] - Basic earnings per share fell by 28.26% to CNY 0.33[7] - The weighted average return on equity decreased by 2.7 percentage points to 5.50%[7] - Operating profit decreased by 33.88% to ¥208,056,304.60 attributed to rising raw material prices and increased manufacturing costs[15] - Total revenue for Q3 2016 was CNY 1,396,766,613.91, a decrease of 7.2% compared to CNY 1,505,188,369.25 in Q3 2015[34] - Year-to-date revenue for the first nine months of 2016 reached CNY 4,059,855,237.47, down 5.2% from CNY 4,282,451,635.77 in the same period last year[34] - Net profit attributable to shareholders for Q3 2016 was CNY 69,024,099.19, a decline of 52.8% compared to CNY 146,140,904.34 in Q3 2015[39] - The total profit for Q3 2016 was CNY 76,488,902.59, a decrease of 54.8% compared to CNY 169,277,050.49 in Q3 2015[39] Assets and Liabilities - Total assets increased by 6.24% to CNY 8,507,501,751.61 compared to the end of the previous year[7] - Total liabilities increased to CNY 3,874,304,937.12 from CNY 3,578,326,354.90 at the start of the year[29] - Non-current liabilities increased by 248.48% to ¥379,268,025.61 mainly due to government land compensation received[15] - Cash and cash equivalents increased to CNY 3,325,517,630.62 from CNY 2,849,225,283.30 at the start of the year[30] - Accounts receivable increased by 34.45% to ¥1,563,147,165.23 due to delays in payment from commercial clients[15] - Inventory decreased to ¥787,172,253.03 from ¥992,656,364.87, reflecting a decline of approximately 20.7%[27] Cash Flow - Net cash flow from operating activities surged by 317.16% to CNY 478,781,349.23 compared to the same period last year[7] - Cash flow from operating activities generated a net cash inflow of ¥478,781,349.23, a significant increase from ¥114,772,363.44 in the previous year[42] - Cash flow from investing activities showed a net inflow of ¥41,148,090.49, recovering from a net outflow of ¥264,582,186.63 in the previous year[42] - The net increase in cash and cash equivalents for the period was ¥479,915,971.09, contrasting with a decrease of ¥177,122,531.55 in the previous year[43] Shareholder Information - The total number of shareholders reached 32,356 at the end of the reporting period[11] - The largest shareholder, Whirlpool (China) Investment Co., Ltd., holds 51.00% of the shares[11] - The company reported a total of 157,245,200 shares held by the commitment party, along with a subscription of 233,639,000 shares in a private placement[18] Commitments and Future Plans - The company committed to not engage in any actions that could lead to its delisting or loss of listing qualifications for a period of 36 months[18] - The company and its controlling shareholders will not establish any new businesses in China that compete with its main operations during the control period[19] - The company will focus on operating and selling its main business products in the Chinese market and globally for OEM and ODM businesses[20] - The company plans to integrate the microwave business of Guangdong Whirlpool into its operations within 36 months post-issuance, based on fair market principles[20] - Whirlpool Group has pledged to compensate the listed company for any actual losses incurred due to breaches of commitments by Whirlpool Group or its affiliates[22] Government and Non-Recurring Items - Government subsidies recognized in the current period amounted to CNY 23,428,423.72[9] - Non-recurring gains and losses totaled CNY 19,906,689.72 for the current period[10]