*ST佳沃(300268) - 2015 Q3 - 季度财报

Financial Performance - Total revenue for the reporting period was CNY 95,079.67, a decline of 99.42% year-on-year[8]. - Net profit attributable to shareholders was CNY -5,744,865.53, representing a 50.65% increase in losses compared to the same period last year[8]. - The weighted average return on net assets was -1.995%, a decrease of 6.57% compared to the previous year[8]. - The company's operating revenue decreased by 99.42% year-on-year due to structural adjustments and temporary production halts in its original industries[17]. - Operating profit for the current period is -6,022,119.33, an improvement compared to -11,186,439.12 in the previous period, reflecting a decrease in losses of approximately 46.25%[45]. - Net profit for the current period is -5,744,865.53, which is an improvement from -11,640,279.00 in the previous period, showing a reduction in losses by about 50.74%[45]. - Total comprehensive income for the current period is -5,744,865.53, an improvement from -11,640,279.00 in the previous period, reflecting a reduction in losses of about 50.74%[46]. - The total comprehensive income attributable to the parent company was -19,372,294.65 CNY, an improvement from -27,186,337.93 CNY in the previous period, indicating a reduction in losses[53]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY -21,670,933.74, a decline of 268.26% year-on-year[8]. - Cash and cash equivalents decreased by 94.35% compared to the beginning of the period, primarily due to repayment of previous loans amounting to 52.5 million and external investments of 50 million[17]. - The net cash flow from operating activities decreased by 268.26% year-on-year, primarily due to reduced income during the period[17]. - Cash flow from operating activities was -21,670,933.74 CNY, a decline from a positive cash flow of 12,879,699.79 CNY in the previous period[59]. - The ending cash and cash equivalents balance was 6,808,227.87 CNY, down from 74,077,893.09 CNY in the previous period[60]. - The company reported a significant decrease in sales revenue and cash flow, indicating challenges in operational performance and liquidity[55][59]. - The company reported a net decrease in cash and cash equivalents of 114,616,875.79 CNY during the quarter[63]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,854[12]. - The largest shareholder, Taoyuan County Xianghui Agricultural Investment Co., Ltd., holds 26.18% of the shares[12]. - The company reported a 26.18% share acquisition by Taoyuan Xianghui Agricultural Investment Co., Ltd., making it the largest shareholder[23]. - The company committed to maintaining operational independence in personnel, assets, finance, and business management following the share acquisition[23]. - The company’s major shareholders have committed not to transfer or manage their shares for 36 months post-IPO[25]. Business Strategy and Operations - The company is seeking new business growth points within the agricultural sector, focusing on the organic agriculture market due to its promising development trends[10]. - The company has implemented a phased production halt to reduce losses, impacting the overall performance for 2015[10]. - The company is focused on improving its operational status and optimizing its asset structure to enhance profitability and sustainability[23]. - The company has promised to support the establishment of a sound corporate governance structure[23]. Assets and Liabilities - Total assets decreased by 17.44% to CNY 349,390,013.12 compared to the end of the previous year[8]. - Total current assets decreased from ¥184,448,920.53 to ¥68,071,500.14, a decline of approximately 63.1%[36]. - Total liabilities decreased from ¥118,715,568.32 to ¥64,298,012.12, a decline of about 45.7%[38]. - The company's retained earnings showed a negative balance, increasing from -¥207,933,508.50 to -¥227,305,803.15[39]. - The total equity attributable to shareholders decreased from ¥304,464,295.65 to ¥285,092,001.00, a decline of approximately 6.3%[39]. Regulatory and Compliance - The company is under a 36-month restriction on issuing securities following an administrative penalty from the China Securities Regulatory Commission[22]. - The company has no major legal or regulatory issues that would prevent it from acquiring other companies[24]. - The company will comply with all relevant laws and regulations regarding any adjustments or disposals of Wanfushengke's business or assets[22]. Investment Projects - The investment in the "Circular Economy Rice Deep Processing Production Line" project reached 81.28% of the planned investment of 24,058 million CNY[26]. - The "Annual Production of 5,000 Tons of Edible Rice Protein Powder" project has been fully completed with an investment of 185 million CNY[26]. - The "Rice Biotechnology Research and Development Center" project has also been fully completed with an investment of 1,621 million CNY[26]. - The "Annual Production of 3,000 Tons of Rice Bran Oil" project has achieved 55.21% of the planned investment of 2,593 million CNY[26]. - The total amount of unused raised funds is 5,902.68 million CNY as of December 31, 2014[29].