LZCIC(SH:600423)2019-10-18 16:00Financial Performance - Operating revenue for the first nine months was CNY 281,809,393.18, a decrease of 80.82% year-on-year[5] - Net loss attributable to shareholders reached CNY -483,410,157.94, compared to a net loss of CNY -84,129,481.64 in the same period last year[5] - The company incurred non-recurring losses totaling CNY -132,522,309.71 for the first nine months[6] - The net profit attributable to shareholders of the parent company was a loss of 483 million yuan in the first three quarters, indicating significant ongoing operational risks[19] - The total profit for the first three quarters of 2019 was a loss of CNY 460,843,728.74, compared to a loss of CNY 10,300,091.08 in the same period of 2018, reflecting a worsening financial performance[37] - The net profit for the third quarter of 2019 was a loss of CNY 220,301,248.73, compared to a loss of CNY 39,914,435.46 in the third quarter of 2018, indicating a significant increase in losses[37] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -258,109,698.88, a decline of 309.24% compared to the previous year[5] - Cash inflow from operating activities decreased by 78.07%, while net cash flow from operating activities decreased by 309.24% in the first three quarters compared to the same period last year, primarily due to a significant reduction in product sales[16] - Cash outflow from operating activities decreased by 74.18% compared to the same period last year, mainly due to reduced production and procurement costs[16] - The company reported a net cash flow from operating activities of -248,767,616.51 RMB for the first three quarters of 2019, compared to a positive cash flow of 238,095,826.66 RMB in the same period last year[43] - The cash and cash equivalents net increase for Q3 2019 was -391,447,907.68 RMB, contrasting with an increase of 80,986,962.14 RMB in the previous year[42] Assets and Liabilities - Total assets decreased by 24.97% to CNY 2,057,786,492.99 compared to the end of the previous year[5] - Total liabilities saw a substantial change due to the execution of the restructuring plan, leading to debt repayments[12] - Total assets decreased from CNY 2,674,426,607.17 to CNY 2,011,308,004.44, a decline of approximately 25%[28] - Current liabilities decreased from CNY 451,239,368.75 to CNY 261,596,807.88, a reduction of about 42%[26] - Non-current liabilities slightly decreased from CNY 120,126,378.91 to CNY 117,116,548.51, a decrease of around 2%[26] - Total liabilities decreased from CNY 571,365,747.66 to CNY 378,713,356.39, a decline of approximately 34%[26] - Owner's equity decreased from CNY 2,171,161,663.58 to CNY 1,679,073,136.60, a reduction of about 23%[26] - Cash and cash equivalents decreased from CNY 536,530,161.66 to CNY 154,424,336.35, a decline of approximately 71%[28] - Total current assets decreased from CNY 1,289,830,584.29 to CNY 752,591,451.55, a reduction of about 42%[28] Expenses - Operating revenue, operating costs, taxes and additional fees, and selling expenses decreased by 80.82%, 75.65%, 48.56%, and 86.54% respectively in the first three quarters compared to the same period last year, mainly due to the complete shutdown of production facilities since March 30[14] - Management expenses increased by 304.21% in the first three quarters compared to the same period last year, mainly due to increased shutdown losses and employee compensation expenses[14] - Financial expenses decreased by 97.31% in the first three quarters compared to the same period last year, mainly due to a significant reduction in liabilities after debt restructuring[14] - The total operating expenses for the first three quarters of 2019 were CNY 1,148,327,548.33, which is a significant burden on the company's financials given the revenue decline[35] Shareholder Information - The number of shareholders totaled 24,345, with the largest shareholder holding 25.22% of the shares[7] Other Financial Metrics - The weighted average return on net assets was reported at -24.82%[5] - Undistributed profits decreased by 483 million yuan compared to the end of the previous year, primarily due to increased operating losses in the first three quarters[14] - Other payables increased by 73.91% compared to the end of the previous year, mainly due to related transactions received by subsidiaries[14] - Inventory decreased from CNY 162,697,163.55 to CNY 97,852,374.42, a reduction of about 40%[28] - Unallocated profits decreased from CNY -423,596,890.16 to CNY -884,440,618.90, indicating a worsening financial position[30] - Accounts receivable decreased by 60.14% due to the settlement of matured bills[11] - Accounts payable decreased from CNY 316,261,158.88 to CNY 173,394,509.69, a decline of approximately 45%[26]