奥维通信(002231) - 2016 Q3 - 季度财报

Financial Performance - Net profit attributable to shareholders decreased by 127.08% to a loss of CNY 1,140,614.86 for the current period[6] - Operating revenue increased by 29.18% to CNY 116,838,774.83 compared to the same period last year[6] - Operating revenue increased by 36.68% compared to the same period last year, while operating costs increased by 43.37%, primarily due to increased business activities and intensified market competition leading to a decline in gross profit[14] - Net profit attributable to the parent company decreased by 331.37% year-on-year, mainly due to increased asset impairment losses and a decline in gross profit[14] - The company expects a net profit attributable to shareholders for 2016 to be between 0 and 1,000 million yuan, with a potential decrease compared to the previous year due to intensified market competition[21] Cash Flow and Assets - Cash flow from operating activities showed a significant decline of 462.76%, totaling CNY -52,338,618.83 year-to-date[6] - Net cash flow from operating activities decreased by 462.76% compared to the same period last year, primarily due to increased cash payments for goods and services[14] - Cash and cash equivalents net increase decreased by 60.41% year-on-year, mainly due to reduced cash flow from operating activities[15] - The company's cash and cash equivalents decreased by 51.44% compared to the beginning of the year, primarily due to payments for goods and project costs[13] - Total assets decreased by 2.48% to CNY 828,390,927.88 compared to the end of the previous year[6] Receivables and Inventory - Accounts receivable decreased by 10.47% year-to-date, reflecting improved cash collection from operations[13] - Inventory increased by 32.23% year-to-date, attributed to ongoing project settlements and market stockpiling[13] - Prepayments increased by 194.12% year-to-date, indicating higher advance payments for materials and outsourcing[13] - The company has significant accounts receivable, and any changes in customer business may lead to further provisions for bad debts, impacting future operating performance[23] Government Support and Market Strategy - The company received government subsidies, contributing to a 19.86% increase in deferred income year-to-date[13] - The company has increased its market promotion efforts to expand market share, but this has led to a decline in gross profit margins[22] Financing Activities - Net cash flow from financing activities increased by 74.94% compared to the same period last year, primarily due to a decrease in cash received from borrowings being lower than the decrease in cash paid for debt repayments[14] Future Plans - The company plans to continue promoting major asset restructuring, which was not approved by the China Securities Regulatory Commission, and will revise and resubmit the plan[16]