GLCC(SH:600234)2019-10-29 16:00Financial Performance - Operating revenue for the first nine months reached CNY 139,697,524.84, a 21.22% increase year-on-year[6] - Net profit attributable to shareholders was CNY 8,938,646.46, a significant recovery from a loss of CNY 2,676,266.15 in the same period last year[6] - Basic earnings per share rose to CNY 0.044 from a loss of CNY 0.0102 in the same period last year[6] - Total revenue for Q3 2019 reached ¥60,405,938.99, a 41.5% increase compared to ¥42,754,737.73 in Q3 2018[22] - Net profit for Q3 2019 was ¥3,743,896.27, compared to a net loss of ¥924,128.52 in Q3 2018, indicating a significant turnaround[24] - Operating profit for Q3 2019 was ¥6,356,336.65, a recovery from a loss of ¥93,729.34 in Q3 2018[23] - Operating profit for the first three quarters of 2019 was -¥7,199,817.44, worsening from -¥3,560,994.16 in the same period of 2018[28] - Total comprehensive income for Q3 2019 was -¥627,002.93, down from ¥653,799.76 in Q3 2018[29] Assets and Liabilities - Total assets increased by 14.86% to CNY 580,283,205.61 compared to the end of the previous year[6] - The total assets of the company increased to ¥580,283,205.61 as of September 30, 2019, compared to ¥505,187,914.53 at the end of 2018, representing a growth of approximately 15%[16] - The total liabilities increased to ¥498,219,848.69 as of September 30, 2019, from ¥432,400,471.08 at the end of 2018, marking an increase of approximately 15%[16] - Total liabilities for Q3 2019 were ¥436,958,915.46, compared to ¥392,241,018.98 in Q3 2018, representing an increase of 11.4%[21] - The company's total equity decreased to ¥102,170,789.07 from ¥109,370,606.51 year-over-year, a decline of 6.5%[21] - The total liabilities to total assets ratio is approximately 85.5%, indicating a high leverage position[39] - The company’s total current liabilities represent about 66% of total liabilities, highlighting a significant reliance on short-term financing[39] Cash Flow - Cash flow from operating activities increased by 15.16% to CNY 4,090,839.41 compared to the same period last year[6] - The net cash flow from operating activities for Q3 2019 was 4,090,839.41 RMB, compared to 3,552,222.92 RMB in the previous year, indicating a year-over-year increase[32] - Total cash inflow from financing activities was 100,010,815.27 RMB, while cash outflow was 93,828,942.28 RMB, resulting in a net cash flow of 387,970.62 RMB[33] - The cash and cash equivalents at the end of Q3 2019 amounted to 26,110,430.68 RMB, up from 20,412,663.11 RMB at the beginning of the period, reflecting a net increase of 5,697,767.57 RMB[33] - Operating cash inflow for the first three quarters of 2019 was 19,767,772.51 RMB, a decrease from 103,104,343.75 RMB in the same period of 2018[34] - The net cash flow from operating activities for the first three quarters of 2019 was -2,643,811.11 RMB, a significant decline compared to 29,747,457.23 RMB in the previous year[34] Equity and Shareholder Information - Net assets attributable to shareholders increased by 16.53% to CNY 62,998,493.47 compared to the end of the previous year[6] - The company's equity attributable to shareholders improved to ¥62,998,493.47 from ¥54,059,847.01, reflecting a growth of about 16.5%[17] - The company reported an accumulated deficit of CNY -489,976,521.69 in undistributed profits[40] - Owner's equity stood at $109,370,606.51, reflecting the company's net worth after liabilities[44] - The company reported an accumulated deficit of $434,665,762.19, highlighting ongoing financial challenges[44] Operational Changes and Strategy - The company completed the acquisition of 100% equity in Shenzhen Tida Decoration Engineering Co., Ltd. on October 15, 2019, as part of its strategy for market expansion[11] - The company has successfully completed the deregistration of several non-operational subsidiaries, including Ningbo Meishan Free Trade Port Area Shanshui Yinjia Investment Management Co., Ltd., enhancing operational efficiency[11] - The company is focused on cost control and sustainable development, aiming to enhance profitability in the upcoming quarters[11] - The company has plans for further business preparations following the acquisition, indicating a proactive approach to integrating new operations[11] Tax and Fees - The company reported a 141.06% increase in tax and additional fees, totaling CNY 2,648,109.93, due to increased VAT[10]