*ST佳沃(300268) - 2014 Q3 - 季度财报

Financial Performance - Total operating revenue for the reporting period was CNY 16,356,207.51, down 72.43% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 11,640,279.00, an increase in loss of 34.78% compared to the same period last year[7] - Basic earnings per share were CNY -0.087, a decrease in loss of 34.59% compared to the same period last year[7] - The weighted average return on equity was -4.07%, a decrease of 0.26% year-on-year[7] - Operating profit for the quarter was -11,186,439.12 yuan, a reduction in loss of 34.98% year-on-year[22] - Net profit attributable to shareholders was -11,640,279.00 yuan, a decrease in loss of 34.78% compared to the previous year[22] - Total operating revenue for the third quarter was ¥16,356,207.51, a significant decrease of 72.5% compared to ¥59,321,144.14 in the same period last year[52] - Cumulative operating revenue from the beginning of the year to the end of the reporting period was ¥65,352,248.14, down 61.8% from ¥171,160,523.79[54] - Cumulative net loss for the year-to-date was ¥27,186,337.93, compared to a loss of ¥37,755,454.53 in the previous year, showing a 28.1% improvement[55] Cash Flow - The net cash flow from operating activities was CNY 12,879,699.79, down 84.56% year-to-date[7] - Cash flow from operating activities decreased by 84.56% year-on-year, primarily due to reduced revenue[20] - Cash flow from operating activities is ¥12,879,699.79, down 84.6% from ¥83,425,997.99 in the previous period[65] - Total cash inflow from operating activities is ¥80,298,753.94, a decrease of 76.7% from ¥344,450,454.05 in the previous period[65] - Cash outflow from operating activities is ¥67,419,054.15, down 74.1% from ¥261,024,456.06 in the previous period[65] - The ending cash and cash equivalents balance is ¥74,077,893.09, down from ¥121,851,744.11 in the previous period[62] - The company reported a decrease in cash and cash equivalents of 7,685,448.56 CNY during the quarter[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 408,865,601.48, a decrease of 13.25% compared to the previous year[7] - Total current assets decreased from CNY 168,206,650.88 to CNY 113,742,175.71, a decline of approximately 32.4%[43] - Total liabilities decreased from CNY 171,968,839.64 to CNY 136,695,282.61, a decline of approximately 20.5%[45] - Current liabilities decreased from CNY 146,185,506.31 to CNY 104,961,949.29, a reduction of about 28.2%[45] - Non-current assets decreased from CNY 303,118,845.56 to CNY 295,123,425.77, a decline of approximately 2.6%[44] - The company reported a negative retained earnings of CNY -240,227,485.28, worsening from CNY -213,041,147.35[45] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,202[11] - Major shareholders include Gong Yongfu and Yang Ronghua, each holding 29.99% of the shares[12] - The company has commitments from major shareholders, including a lock-up period of 36 months for shares post-IPO, ensuring no transfer or management of shares during this time[27] - Shareholders have committed to not transferring more than 25% of their shares annually during their tenure and not transferring any shares for six months post-departure[28] - The actual controllers of the company have promised to avoid engaging in any competing business activities with the company and its subsidiaries[29] - The company is currently fulfilling its commitments regarding compensation plans for minority shareholders, ensuring protection against investment losses[31] Government Support and Risks - The company received government subsidies amounting to CNY 1,218,303.01 during the reporting period[8] - The company faces risks of potential stock suspension due to consecutive annual losses if the fourth quarter of 2014 does not turn profitable[10] - The company is actively undergoing industrial adjustments and transformation, which poses management risks[23] Fundraising and Investments - The total amount of funds raised in the current quarter is CNY 39,481.05 million[33] - The cumulative amount of raised funds used for projects is CNY 22,798.23 million, with a change of use ratio of 21.12%[33] - The investment in the "Circular Economy Rice Deep Processing Production Line" project reached CNY 19,554.61 million, achieving 81.28% of the planned investment[33] - The "Annual Production of 5000 Tons of Edible Rice Protein Powder" project has been fully funded with CNY 185 million, achieving 100% of the planned investment[33] - The "Rice Biotechnology Research and Development" project has also been fully funded with CNY 1,627 million, achieving 100% of the planned investment[33] - The "Annual Production of 3000 Tons of Rice Bran Oil" project has achieved 55.19% of the planned investment with CNY 1,431.6 million invested[34] - The company has temporarily supplemented working capital with CNY 15,560.54 million from over-raised funds[35] - The company has terminated four fundraising projects due to regulatory restrictions and has not encountered issues in the use and disclosure of raised funds[34][35] Cost Management - The company implemented temporary production line shutdowns to control operational losses during the reporting period[22] - The company reduced its sales expenses by 73.54% year-on-year due to decreased sales revenue[20] - Management expenses were reduced to ¥9,014,085.01 from ¥9,357,905.48, a decrease of 3.7%[52] - Sales expenses significantly decreased to ¥599,943.34 from ¥5,762,679.19, a reduction of 89.6%[52] Audit and Reporting - The third quarter report was not audited, which may affect the reliability of the financial data presented[67]