Lanpec(SH:601798)2014-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 46.20% to CNY 34,440,255.86 for the first nine months compared to the same period last year[6] - Operating revenue for the first nine months was CNY 552,515,986.56, a decrease of 0.98% year-on-year[6] - Basic earnings per share dropped by 51.00% to CNY 0.098[6] - Net profit attributable to shareholders decreased by 46.2%, primarily due to a decline in product prices and changes in revenue structure, with a significant drop in the proportion of high-margin panel products[13] - Total operating revenue for Q3 2014 was CNY 167,346,002.69, a decrease of 12.93% compared to CNY 192,195,338.07 in Q3 2013[23] - Net profit for Q3 2014 was CNY 4,021,920.38, a decline of 74.88% compared to CNY 16,006,383.88 in Q3 2013[25] - The company reported a total profit of CNY 131.73 million for Q3 2014, compared to CNY 8.75 million in Q3 2013, reflecting a year-over-year increase of 1,505.77%[28] Assets and Liabilities - Total assets decreased by 1.39% to CNY 2,814,140,146.99 compared to the end of the previous year[6] - Total assets as of September 30, 2014, amounted to CNY 2,814,140,146.99, down from CNY 2,853,886,544.79 at the beginning of the year[16] - Total liabilities decreased to CNY 876,399,170.33 from CNY 1,160,970,137.88 at the start of the year, representing a reduction of 24.48%[20] - Shareholders' equity increased to CNY 1,574,259,938.54 from CNY 1,269,471,196.20, marking an increase of 24.00%[20] Cash Flow - Cash flow from operating activities improved by 74.79%, reaching a net cash flow of -CNY 13,112,506.28 for the first nine months[6] - Operating cash flow increased by 74.79%, mainly due to a reduction in accounts receivable and notes receivable[13] - Cash flow from operating activities for the first nine months of 2014 was negative CNY 13.11 million, an improvement from negative CNY 52.01 million in the same period last year[32] - Cash inflow from financing activities amounted to ¥293,078,428.15, an increase from ¥235,000,000.00 in the same period last year[35] - Net cash flow from financing activities improved to ¥26,138,560.94, compared to a net outflow of ¥16,462,372.44 in the previous year[35] Expenses and Investments - The company’s income tax expense decreased by 38.14% to CNY 8,025,061.72, reflecting a reduction in total profit[12] - Sales expenses increased to CNY 11.86 million in Q3 2014, up 50.00% from CNY 7.90 million in Q3 2013[28] - Management expenses decreased to CNY 7.64 million in Q3 2014, down 32.96% from CNY 11.31 million in Q3 2013[28] - Investment activities resulted in a net cash outflow of CNY 66.16 million for the first nine months of 2014, compared to CNY 131.10 million in the same period last year[33] Shareholder Information - The number of shareholders increased to 20,781 by the end of the reporting period[9] - The company received dividends from subsidiaries totaling CNY 134,654,963.38, contributing to increased investment income for the parent company[13] Inventory and Prepayments - The company’s inventory as of September 30, 2014, was CNY 303,667,102.10, slightly up from CNY 295,636,971.94 at the beginning of the year[19] - The company’s prepayments increased by 37.64% to CNY 121,278,350.20, attributed to higher material procurement[11] - Development expenditures rose by 43.83% to CNY 26,078,559.89 due to increased investment in national projects[11]