Yulong Gold(SH:601028)2014-10-29 16:00Financial Performance - Operating revenue decreased by 8.80% to CNY 1,767,243,475.48 for the first nine months compared to the same period last year[9] - Net profit attributable to shareholders decreased by 16.36% to CNY 86,368,439.07 for the first nine months compared to the same period last year[9] - Basic and diluted earnings per share decreased by 18.18% to CNY 0.27[9] - Total operating revenue for Q3 2014 was CNY 678,640,718.85, a decrease of 11.85% compared to CNY 769,866,976.01 in Q3 2013[40] - The company's net profit for the first nine months of 2014 was CNY 1,767,243,475.48, compared to CNY 1,937,680,987.23 for the same period in 2013, indicating a decline of 8.77%[40] - The total profit for the first nine months of 2014 was ¥88,652,477.28, a decline of 27.0% from ¥121,426,147.28 in the same period last year[45] Cash Flow - Cash flow from operating activities turned positive with a net amount of CNY 201,151,179.10, compared to a negative CNY 46,266,395.52 in the same period last year[9] - Operating cash flow increased to ¥201,151,179.10 from a negative ¥46,266,395.52, a change of ¥247,417,574.62[17] - The cash flow from operating activities for the first nine months of 2014 was ¥201,151,179.10, a significant improvement compared to a negative cash flow of -¥46,266,395.52 in the same period last year[48] - Net cash flow from operating activities was CNY 168,789,290.67, a significant improvement from a net outflow of CNY 208,480,035.14 in the previous year[52] Assets and Liabilities - Total assets increased by 4.13% to CNY 3,278,459,406.36 compared to the end of the previous year[9] - Current assets totaled CNY 2,012,287,184.70 as of September 30, 2014, slightly down from CNY 2,044,224,295.91 at the beginning of the year[35] - Total liabilities were CNY 1,235,660,594.22, up from CNY 1,112,668,988.43 at the beginning of the year, representing an increase of 11.01%[32] - The company's equity attributable to shareholders was CNY 2,028,128,294.67, a slight increase from CNY 2,020,377,788.23 at the beginning of the year[32] Shareholder Information - The total number of shareholders reached 11,049 at the end of the reporting period[12] - The top ten shareholders hold a combined 99.99% of the shares, with the largest shareholder owning 26.85%[12] Financial Indicators - The weighted average return on net assets decreased by 0.93 percentage points to 4.26%[9] - Significant changes in financial indicators include an increase in financial expenses due to increased loans and interest expenses[15] - Financial expenses rose to ¥22,346,764.12, an increase of 79.73% from the previous period[18] - Asset impairment losses were reported at -¥6,495,185.34, a significant change of -280.70%[18] Investment and Financing Activities - The company plans to issue up to 39,189,528 shares at an adjusted price of ¥13.56 per share, raising up to ¥531.41 million for various projects[21] - Cash inflow from financing activities totaled CNY 1,142,888,400.00, an increase from CNY 972,442,400.00 in the same period last year[53] - Net cash flow from financing activities was a negative CNY 146,148,480.92, compared to a positive CNY 188,876,979.82 in the previous year[53] Inventory and Orders - The company has over 300,000 tons of orders on hand, particularly strong in oil and gas pipe orders, providing a solid foundation for Q4 and the first two quarters of the next year[25] - Export orders are nearly 100,000 tons, with high gross margins, significantly contributing to profits, including two major orders totaling 76,000 tons from Lebanon and Nigeria[25] New Product Development - New product development includes corrosion-resistant bimetallic straight seam submerged arc welded pipes, targeting the petroleum refining and nuclear power sectors[26]