2014-10-29 16:00Financial Performance - Operating revenue for the reporting period was CNY 253,400,369.75, down 23.59% year-on-year[5]. - Net profit attributable to shareholders decreased by 58.79% to CNY 7,048,364.92[5]. - Basic earnings per share fell by 92.50% to CNY 0.009[5]. - Cash flow from operating activities decreased by 33.21% to CNY 165,870,072.80 year-to-date[5]. - The weighted average return on net assets was 0.62%, a decrease of 0.31 percentage points[5]. - The company expects a net profit for 2014 between 63.5 million and 95 million yuan, compared to a net loss of 132.36 million yuan in 2013[23]. - The adjusted net profit for 2013, after retrospective adjustments, was a loss of 191.05 million yuan[23]. - Major reasons for the 2013 loss included tax liabilities from acquisitions and asset impairment provisions related to obsolete production lines[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,258[9]. - The largest shareholder, Chengdu Tianqi Industrial (Group) Co., Ltd., holds 36.22% of shares, totaling 93,717,000 shares[9]. - The company has extended the lock-up period for 93,717,000 shares held by its parent company until August 30, 2016[22]. Asset and Liability Changes - Total assets at the end of the reporting period were CNY 6,617,598,241.85, a decrease of 0.77% compared to the previous year[5]. - Net assets attributable to shareholders decreased by 3.81% to CNY 2,970,370,519.59[5]. - Total liabilities increased significantly, with other payables rising by 1,178.50% to CNY 278.71 million, primarily due to financial support from Tianqi Group[13]. - Prepaid accounts increased by 70.13% to CNY 23.70 million due to new processing fees for lithium concentrate from Galaxy Lithium (Jiangsu) Co., Ltd.[13]. - Other receivables decreased by 85.82% to CNY 12.75 million as a result of recovering intercompany loans during the reporting period[13]. - Other current assets rose by 30.10% to CNY 33.66 million due to an increase in input VAT credits[13]. Mergers and Acquisitions - The company completed mergers with Wenfield and Tianqi Mining, impacting financial statements retroactively[5]. - The company plans to acquire 100% of Galaxy Lithium International Limited for an initial cash price of USD 122 million, with a 10% earnest payment already made[15][16]. - The company acquired 20% equity in Tibet Rikaze Zhabuye Lithium Industry Co., Ltd. for a total price of RMB 31.1 million, with an initial payment of RMB 15.55 million made on August 20, 2014[17]. - The remaining payment of RMB 15.55 million is due by June 30, 2015, with interest calculated at the local bank's loan rate from the contract's effective date[17]. - As of the report date, the equity transfer procedures for the acquisition of Zhabuye are still in progress[17]. Operational Changes and Commitments - The company’s management expenses decreased by 72.59% to CNY 70.85 million, mainly due to the absence of acquisition-related stamp duties in the current period[13]. - Financial expenses increased by 113.07% to CNY 33.64 million due to higher interest expenses from increased bank borrowings[13]. - The company’s income tax expenses surged by 288.11% to CNY 51.67 million, driven by increased profits from Wenfield during the reporting period[13]. - The company is actively involved in significant asset restructuring, with updates disclosed on August 25 and October 20, 2014[19]. - The company has committed to not engaging in competing business activities during the period of actual control[20]. - The company reported a commitment to sell lithium spodumene only to users in the glass and ceramics industry, not to lithium processing industry users[21]. - The company has no current or future plans to engage in any business that competes directly or indirectly with its main business[21]. - The company will strengthen information disclosure and enhance constraints, including annual reports on lithium spodumene import statistics[22]. - The audit committee has commissioned an independent audit of the company's lithium spodumene procurement, ensuring price fairness[22]. - The company has committed to prioritize its own procurement needs in case of supply shortages due to production scale expansion[22]. - The company will not engage in any business activities that pose a competitive threat to its main business or its subsidiaries[21]. - The company plans to gradually transfer overseas customers and export business related to lithium carbonate to its parent company[21]. - The company has pledged 5.8 million A-shares (2.24% of total shares) as collateral for the remaining payment obligations[17].