Yulong Gold(SH:601028)2016-10-28 16:00Financial Performance - Operating revenue for the first nine months decreased by 25.50% to CNY 1,409,882,626.83 compared to the same period last year[7]. - Net profit attributable to shareholders was CNY -296,763,443.51, a decrease of 332.06% compared to the same period last year[7]. - Basic earnings per share were CNY -0.38, a decrease of 337.50% compared to the same period last year[8]. - Total profit decreased by 290.98% to a loss of ¥280,713,444.28 from a profit of ¥146,988,074.92[14]. - Net profit attributable to the parent company decreased by 332.06% to a loss of ¥296,763,443.51 from a profit of ¥127,881,451.39[14]. - The company reported a net loss for Q3 2016 due to significant declines in profitability from the steel pipe industry and reduced investment in oil and gas transportation[20]. - The net profit for Q3 2016 was a loss of ¥327,508,180.15, compared to a profit of ¥40,745,142.67 in Q3 2015, indicating a significant decline[34]. - Net profit for Q3 2016 was a loss of CNY 191,451,194.06, compared to a profit of CNY 48,643,386.78 in Q3 2015[38]. - Total comprehensive income for Q3 2016 was a loss of CNY 191,451,194.06, compared to a profit of CNY 48,643,386.78 in the same period last year[38]. Asset and Liability Changes - Total assets decreased by 7.16% to CNY 3,026,111,974.67 compared to the end of the previous year[7]. - Net assets attributable to shareholders decreased by 12.72% to CNY 2,294,689,990.12 compared to the end of the previous year[7]. - Current assets totaled CNY 2,067,615,569.16, a decrease from CNY 2,133,098,090.76 at the start of the year, reflecting a decline of about 3.1%[25]. - Total liabilities increased to CNY 712,274,079.18 from CNY 600,659,516.86, marking an increase of approximately 18.5%[27]. - The company's total equity decreased to ¥2,376,983,361.49 in Q3 2016 from ¥2,586,239,550.93 in Q3 2015, reflecting a decline of 8.1%[30]. - The total liabilities as of Q3 2016 were ¥708,175,782.15, up from ¥562,846,643.84 in Q3 2015, marking a 25.8% increase[30]. Cash Flow and Liquidity - Cash flow from operating activities was CNY 228,310,553.76, a significant improvement from CNY -84,395,761.44 in the previous year[7]. - The net cash flow from operating activities for Q3 2016 was ¥228,310,553.76, a significant improvement compared to a negative cash flow of ¥84,395,761.44 in the same period last year[41]. - Total cash inflow from operating activities for the first nine months of 2016 was ¥1,462,379,947.41, down 23.6% from ¥1,916,165,456.52 in the previous year[44]. - Cash outflow for purchasing goods and services in the first nine months of 2016 was ¥1,046,274,452.60, a decrease of 41.8% compared to ¥1,798,754,398.23 in the same period last year[44]. - The total cash and cash equivalents at the end of Q3 2016 was ¥795,658,599.14, an increase from ¥295,871,139.30 at the end of the previous year[42]. Operational Efficiency - The company reported an increase in operating tax and additional fees by 148.62% to ¥11,995,103.51 from ¥4,824,663.05[14]. - The company plans to focus on cost control and efficiency improvements in response to the declining profitability[34]. - Operating costs for Q3 2016 were CNY 549,940,986.77, up from CNY 357,777,962.21 in Q3 2015, reflecting a 53.7% increase[36]. - Total operating costs for Q3 2016 were ¥990,081,879.98, up from ¥492,216,322.96 in Q3 2015, representing an increase of 101.5%[33]. Shareholder Information - The total number of shareholders was 52,157 at the end of the reporting period[10]. - The largest shareholder, Tang Zhiyi, held 141,900,000 shares, representing 18.08% of the total shares[11]. Impairment and Asset Management - The company decided to recognize asset impairment provisions totaling ¥43,577,000, including ¥27,875,690 for fixed assets[16]. - The company has recognized impairment provisions for major operational assets in Q3 2016 due to signs of impairment[20]. - Asset impairment losses for Q3 2016 were CNY 210,073,139.89, compared to a negative CNY 7,988,046.92 in Q3 2015[37]. Changes in Control - The company underwent a change in controlling shareholder due to the transfer of shares to Lhasa Zhihui Technology Development Co., Ltd.[16]. - The company has committed to not engaging in competitive activities that could harm its interests or those of its minority shareholders[19]. - The company is currently in the process of fulfilling commitments made regarding competition and control relationships since July 19, 2016[19].