Kings(SH:603505)2017-10-27 16:00Financial Performance - Net profit attributable to shareholders increased by 60.60% to CNY 49,051,629.58 for the period from January to September[6] - Operating revenue rose by 33.26% to CNY 239,164,738.69 for the same period[6] - Basic earnings per share rose by 35.29% to CNY 0.23[6] - Net profit for the first nine months was CNY 49,032,777.20, reflecting a 60.05% increase from CNY 30,635,415.04 year-on-year[13] - Net profit for the first nine months was CNY 64,175,281.84, compared to CNY 31,907,073.54 in the previous year, indicating a growth of 100.4%[30] - The net profit attributable to the parent company for Q3 2017 was CNY 15,186,671.19, compared to CNY 2,620,457.95 in Q3 2016, indicating a significant increase[32] - The total profit for the first nine months of 2017 reached CNY 22,013,001.81, compared to CNY 31,546,916.27 for the same period in 2016, showing a decline[35] Revenue and Costs - Total operating revenue for the third quarter reached CNY 73,336,834.61, a 74.8% increase compared to CNY 41,956,347.19 in the same period last year[30] - Total operating costs amounted to CNY 57,696,421.33, up from CNY 40,994,150.57, reflecting a year-over-year increase of 40.7%[30] - The operating costs for Q3 2017 were CNY 60,900,470.72, which is a 52.7% increase from CNY 39,856,567.41 in Q3 2016[33] Assets and Liabilities - Total assets increased by 10.40% to CNY 1,079,387,895.41 compared to the end of the previous year[6] - The company’s total liabilities decreased to CNY 298,421,462.66 from CNY 359,072,916.75, indicating improved financial stability[20] - Owner's equity increased to CNY 680,510,705.68, up from CNY 480,647,739.12, representing a growth of 41.5%[26] - Total assets as of September 30, 2017, were CNY 921,676,701.16, an increase from CNY 759,614,472.86 at the beginning of the year[24] - Total liabilities decreased to CNY 241,165,995.48 from CNY 278,966,733.74, a reduction of 13.5%[26] Cash Flow - Cash flow from operating activities increased by 10.45% to CNY 20,181,797.08 year-to-date[6] - Cash flow from financing activities decreased by 45.17% to CNY 31,521,001.54, mainly due to repayment of bank loans[13] - Operating cash flow for the first nine months of 2017 was negative at -150,839,972.36 RMB, compared to -67,837,604.96 RMB in the same period last year, indicating a decline in operational efficiency[42] - Total cash inflow from financing activities reached 487,980,000.00 RMB, significantly higher than 198,500,000.00 RMB in the previous year, reflecting increased borrowing and investment activities[43] - Cash outflow for operating activities was 320,811,593.35 RMB, up from 210,430,253.09 RMB in the previous year, reflecting increased operational costs[42] Accounts Receivable and Inventory - Accounts receivable increased by 130.89% to CNY 44,472,207.53, attributed to a higher proportion of sales settled by notes for new customers in northern regions[12] - Accounts receivable increased by 269.06% to CNY 37,989,637.03, primarily due to increased sales volume[13] - Inventory rose by 75.96% to CNY 37,806,056.86, as the company strategically increased finished goods stock in anticipation of market trends[13] - Accounts receivable rose to CNY 32,919,915.26 from CNY 9,517,233.59, marking an increase of 245.5%[23] - Inventory stood at CNY 279,284.39, with no prior balance reported[24] Government Subsidies and Financial Management - The company received government subsidies amounting to CNY 9,779,604.49 year-to-date, closely related to its normal business operations[8] - The company reported a significant increase in prepayments, totaling CNY 279,893,339.16, compared to CNY 253,343,430.11 at the beginning of the year[24] - The financial expenses for the first nine months of 2017 were CNY 8,901,709.98, compared to CNY 8,132,585.05 in the same period of 2016, indicating an increase[33] Cash and Cash Equivalents - Cash and cash equivalents decreased by 67.08% to CNY 7,083,723.31 due to repayment of bank loans and acquisition of fixed assets[12] - Cash and cash equivalents decreased to CNY 4,295,096.49 from CNY 12,501,863.60, a decline of 65.6%[23] - Cash and cash equivalents at the end of the period decreased to 4,012,096.49 RMB from 17,895,497.34 RMB year-on-year, indicating liquidity challenges[43] - The impact of exchange rate changes on cash and cash equivalents was a positive 17,660.45 RMB, showing some resilience against currency fluctuations[43]