Western Mining(SH:601168)2015-10-27 16:00Financial Performance - Operating revenue for the year-to-date reached CNY 18,395,801,109, representing a growth of 23.13% year-on-year[7]. - Net profit attributable to shareholders was CNY 12,992,951, a significant decrease of 94.91% compared to the previous year[7]. - Basic earnings per share fell to CNY 0.01, a decline of 90.91% compared to CNY 0.11 in the same period last year[7]. - Net profit for the first nine months of 2015 was ¥37,313,493, a decrease from ¥342,457,405 in the same period of 2014[35]. - The company reported a net loss of ¥14,807,615 for Q3 2015, compared to a net profit of ¥187,482,925 in Q3 2014[35]. - Net profit for the first nine months of 2015 was a loss of approximately ¥23.6 million, compared to a profit of ¥152.4 million in the same period last year, representing a significant decline[41]. Cash Flow - The net cash flow from operating activities was CNY 205,947,094, a turnaround from a negative cash flow of CNY -1,847,828,127 in the same period last year, reflecting an improvement of 111.15%[7]. - The net cash flow from operating activities for the year-to-date (January to September) is -325,667,267 RMB, a significant decline compared to the previous year's net cash flow of 27,903,771 RMB[48]. - Cash inflow from operating activities totaled 2,744,567,389 RMB, down from 2,863,879,419 RMB in the same period last year, representing a decrease of approximately 4.1%[48]. - Cash outflow from operating activities increased to 3,070,234,656 RMB, compared to 2,835,975,648 RMB in the previous year, marking an increase of about 8.3%[48]. - The company reported a net cash flow from investment activities of -24,304,865 RMB, contrasting sharply with a positive net cash flow of 119,098,922 RMB in the previous year[48]. - The net increase in cash and cash equivalents for the period was -260,686,804 RMB, compared to -655,292,862 RMB in the previous year, showing an improvement[49]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 26,126,742,271, an increase of 1.15% compared to the end of the previous year[7]. - The company's total liabilities increased to CNY 14,166,435,147 from CNY 13,784,757,523, representing an increase of about 2.8%[29]. - The company's current assets decreased to CNY 8,518,860,892 from CNY 8,920,583,667, reflecting a decline of approximately 4.5%[28]. - The company's cash and cash equivalents were CNY 3,829,261,620, down from CNY 3,972,669,168, indicating a decrease of approximately 3.6%[28]. - Total assets at the end of the reporting period amounted to ¥19,469,955,220, slightly up from ¥19,398,836,600 at the beginning of the year[32]. - Total liabilities increased to ¥10,136,653,733 from ¥10,049,858,077 at the start of the year[32]. Shareholder Information - The total number of shareholders at the end of the reporting period was 213,236[11]. - The largest shareholder, Western Mining Group, held 672,300,000 shares, representing 28.21% of the total shares, with 312,200,000 shares pledged[11]. Operational Changes - The company has implemented a restructuring of its organizational structure, optimizing from two business units and six functional centers to fourteen departments[21]. - The company completed the registration of a capital increase in its subsidiary, Qinghai Investment Group, raising CNY 1 billion, which reduced the company's ownership from 35.89% to 32.38%[21]. Government Support and Other Income - Government subsidies recognized in the current period amounted to CNY 501,806, contributing to the overall financial performance[9]. - Other income decreased by 75% year-on-year, mainly due to a reduction in government subsidies received[19]. Investment and Expenses - Investment income decreased by 2,088% compared to the same period last year, attributed to a decline in profitability of joint ventures and associates[19]. - Sales expenses decreased by 42% year-on-year, primarily due to lower freight costs and reduced product sales[19]. - The company's total operating costs for the first nine months were approximately ¥2.25 billion, an increase from ¥2.12 billion in the same period last year, indicating rising operational expenses[40].