SUNWARD(SZ:002097)2016-10-28 16:00Financial Performance - Net profit attributable to shareholders increased by 195.22% to CNY 16,668,821.03 for the current period[8] - The company reported a net profit attributable to shareholders of CNY 34,309,360.43 year-to-date, an increase of 337.40% compared to the same period last year[8] - Basic earnings per share rose by 195.26% to CNY 0.0221 for the current period[8] - The weighted average return on net assets was 0.69% for the current period[8] - The company expects a turnaround in net profit for 2016, projecting a profit between ¥65,000,000 and ¥85,000,000, compared to a loss of ¥292,399,907.60 in 2015[20] Revenue and Cash Flow - Operating revenue decreased by 12.55% to CNY 342,795,961.74 for the current period[8] - The net cash flow from operating activities decreased by 7.14% to CNY -293,831,303.77 year-to-date[8] Assets and Investments - Total assets increased by 12.23% to CNY 7,092,101,810.91 compared to the end of the previous year[8] - The company's cash and cash equivalents decreased by 30.07% to ¥642,601,710.74, primarily due to funds used for acquiring 60% of Avmax Group Inc. in Canada[16] - Accounts receivable dropped by 69.10% to ¥70,798,998.00, mainly due to payments made on notes received in the previous year[16] - The company reported a significant increase in long-term equity investments by 2414.01% to ¥1,016,466,779.72, attributed to the acquisition of Avmax Group Inc.[16] - The company's prepayments increased by 56.81% to ¥200,714,446.38, mainly due to increased procurement payments[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 85,605[12] - The largest shareholder, He Qinghua, holds 21.71% of the shares, amounting to 163,963,140 shares[12] Acquisition Details - The company completed the first phase of the acquisition of Avmax Group Inc. on June 29, 2016, for a transaction price of $115,558,333.33[17] - The second phase of the acquisition was completed on September 30, 2016, for an additional $25,941,666.67, resulting in a 60% ownership stake in Avmax Group Inc.[17] - The company anticipates that the consolidation of Avmax Group Inc. will have a significant impact on its operating performance for 2016 and beyond[17] Investment Income - Investment income surged by 6296.91% to ¥30,637,391.16, primarily due to recognizing investment income from Avmax Group Inc. in the third quarter[16] Non-Recurring Gains and Losses - The company did not classify any non-recurring gains and losses as recurring during the reporting period[10] Long-Term Borrowings - The company's long-term borrowings increased by 681.84% to ¥350,233,398.00, reflecting new long-term loans obtained[16]