顺威股份(002676) - 2018 Q3 - 季度财报

Financial Performance - Operating revenue for the reporting period was CNY 340,808,869.57, down 4.86% year-on-year, while revenue for the year-to-date was CNY 1,255,821,338.85, an increase of 5.74%[8] - Net profit attributable to shareholders was a loss of CNY 2,465,731.55, a decrease of 3.17% year-on-year, with a year-to-date loss of CNY 13,878,537.60, representing a significant decline of 236.20%[8] - The company expects a net loss for 2018, projecting a range of -$3,500,000 to -$2,500,000, compared to a net profit of -$4,803,980 in 2017[23] - The anticipated loss is due to a decline in sales orders, continuous decrease in sales prices, and rising manufacturing costs including materials and labor[23] - Financial expenses are expected to increase due to rising funding costs and increased financing amounts, which will not be offset by profit growth from sales[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,797,127,608.74, a decrease of 13.19% compared to the end of the previous year[8] - The company's cash and cash equivalents decreased by 51.91% to CNY 131,205,539.15 due to a significant reduction in net financing[16] - Accounts payable decreased by 47.01% to CNY 280,110,838.14, primarily due to a reduction in issued notes compared to the previous period[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,170[11] - The largest shareholder, Jiang Jiuming, held 27.69% of the shares, with 198,000,000 shares frozen[11] Cash Flow and Operating Activities - The net cash flow from operating activities was CNY 51,038,198.86, an increase of 53.17% compared to the same period last year[8] Expenses and Impairments - Interest expenses increased by 34.19% to $25,385,157.07 due to rising funding costs and increased financing amounts[18] - Asset impairment losses surged by 114.73% to $6,340,797.97 primarily due to higher provisions for bad debts and inventory write-downs[18] Other Financial Metrics - The weighted average return on net assets was -0.25%, a decrease of 0.04% compared to the previous year[8] - The company reported a significant increase of 79.90% in prepayments, totaling CNY 13,298,107.76, attributed to higher advance payments for materials and electricity[16] - Investment income plummeted by 93.88% to $128,000.00, mainly due to the disposal of available-for-sale financial assets in the previous period[18] - Asset disposal gains rose by 218.96% to $846,038.44, attributed to a higher volume of fixed asset disposals during the period[18]