现代投资(000900) - 2019 Q3 - 季度财报

Important Notes The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report and assumes legal responsibility - The Board of Directors, Supervisory Committee, and senior management have committed to the authenticity, accuracy, and completeness of the quarterly report's content and will bear legal responsibility[5] - Director Jin Yong was unable to attend the board meeting in person due to official business and has delegated another individual to attend on his behalf[6] - The company's responsible person Zhou Zhizhong, chief accounting officer Yan Ruyi, and head of the accounting department Yang Shiyi declare that the financial statements are true, accurate, and complete[6] Company Profile This section discloses key financial data, indicators, and shareholder information, noting asset growth alongside a decline in current period revenue and net profit Key Accounting Data and Financial Indicators The company's total assets and net assets increased, while current period revenue and net profit saw a year-over-year decline Key Accounting Data and Financial Indicators (as of September 30, 2019) | Indicator | End of Current Reporting Period (RMB Yuan) | End of Previous Year (RMB Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 34,918,230,569.60 | 24,707,125,162.97 | 41.33% | | Net Assets Attributable to Shareholders | 9,916,631,918.36 | 9,301,203,202.54 | 6.62% | Key Accounting Data and Financial Indicators (Current Period vs. Year-to-Date) | Indicator | Current Reporting Period (RMB Yuan) | YoY Change (%) | Year-to-Date (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,151,552,560.10 | -30.56% | 9,785,869,485.75 | 8.83% | | Net Profit Attributable to Shareholders | 220,244,949.53 | -27.79% | 822,027,790.94 | 2.72% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 208,633,429.76 | -30.48% | 790,388,305.58 | 1.82% | | Net Cash Flow from Operating Activities | -- | -- | 1,027,453,203.60 | 26.26% | | Basic Earnings Per Share (RMB Yuan/Share) | 0.1451 | -27.78% | 0.5416 | 2.73% | | Diluted Earnings Per Share (RMB Yuan/Share) | 0.1451 | -27.78% | 0.5416 | 2.73% | | Weighted Average Return on Equity | 2.25% | -32.36% | 8.49% | -5.19% | Non-Recurring Gains and Losses (Year-to-Date) | Item | Amount (RMB Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -171,511.21 | | Government Grants | 12,521,044.44 | | Capital Occupation Fees from Non-Financial Enterprises | 1,373,695.13 | | Fair Value Change Gains/Losses and Investment Income | 19,445,536.80 | | Other Non-Operating Income and Expenses | 8,647,399.16 | | Less: Income Tax Impact | 10,475,188.20 | | Less: Minority Interest Impact (After Tax) | -298,509.24 | | Total | 31,639,485.36 | - The company classifies certain non-recurring items as recurring, including capital occupation fees, fair value change gains, and investment income from subsidiaries' normal operations[13] Total Shareholders and Top 10 Shareholders at the End of the Reporting Period The company had 62,550 common shareholders, with Hunan Expressway Construction and Development Corporation being the largest shareholder - At the end of the reporting period, the total number of common shareholders was 62,550[14] Top 10 Shareholders (as of September 30, 2019) | Shareholder Name | Shareholder Type | Shareholding Ratio (%) | Number of Shares | | :--- | :--- | :--- | :--- | | Hunan Expressway Construction and Development Corporation | State-owned Legal Entity | 27.19% | 412,666,971 | | China Merchants Expressway Network & Technology Holdings Co, Ltd | State-owned Legal Entity | 7.04% | 106,867,207 | | Tongliao Mengguwang Industry & Trade Co, Ltd | Domestic Non-State-owned Legal Entity | 3.29% | 50,000,000 | | Central Huijin Asset Management Ltd | State-owned Legal Entity | 3.17% | 48,180,150 | | Hong Kong Securities Clearing Company Ltd | Overseas Legal Entity | 1.27% | 19,348,626 | | Bai Guoyi | Domestic Natural Person | 0.95% | 14,460,000 | | Harvest Fund - ABC - Harvest CSI Financial Asset Management Plan | Other | 0.94% | 14,300,694 | | GF Fund - ABC - GF CSI Financial Asset Management Plan | Other | 0.89% | 13,466,034 | | Yinhua Fund - ABC - Yinhua CSI Financial Asset Management Plan | Other | 0.89% | 13,446,750 | | Southern Fund - ABC - Southern CSI Financial Asset Management Plan | Other | 0.87% | 13,206,900 | - Tongliao Mengguwang Industry & Trade Co, Ltd and Bai Guoyi are parties acting in concert[21] - The company's top 10 common shareholders and top 10 unrestricted common shareholders did not engage in agreed repurchase transactions during the reporting period[21] Significant Events This section details significant changes in financial data, progress on major corporate actions, and specifics of securities and derivatives investments Changes in Key Financial Data and Indicators and Their Reasons Significant fluctuations in balance sheet and income statement items were primarily driven by the acquisition of Yueyang Baling Rural Commercial Bank and adjustments in trade business models Major Balance Sheet Item Changes and Reasons (End of Sep 2019 vs. Beginning of 2019) | Item | End of Sep 2019 (RMB Yuan) | Beginning of 2019 (RMB Yuan) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 3,594,740,383.02 | 28,479,992.26 | 12521.99% | A subsidiary's settlement method of using structured deposits to issue bank acceptance bills for supplier payments increased both trading financial assets and notes payable | | Financial Assets at Fair Value Through Profit or Loss | - | 92,032,680.00 | -100.00% | Reclassified to trading financial assets under new financial instrument standards | | Prepayments | 519,291,486.92 | 70,444,452.46 | 637.16% | Increase in trade prepayments by a subsidiary | | Interest Receivable | 55,298,900.27 | 21,194,172.97 | 160.92% | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Net Inventories | 422,193,407.03 | 892,341,724.29 | -52.69% | Decrease in a subsidiary's commodity trade inventory | | Available-for-Sale Financial Assets | - | 64,971,968.44 | -100.00% | Reclassified to other equity investments, etc, under new financial instrument standards | | Loans and Advances | 2,940,217,997.10 | - | New this period | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Debt Investments | 2,322,259,228.27 | - | New this period | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Other Debt Investments | 1,207,541,024.08 | - | New this period | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Other Equity Investments | 68,988,350.47 | - | New this period | New item under new financial instrument standards | | Net Construction in Progress | 2,060,862,323.34 | 2,973,058,164.50 | -30.68% | Sections of the Huai-Zhi Expressway became operational, reclassifying construction in progress to intangible assets | | Goodwill | 302,352,327.78 | 7,336,245.04 | 4021.35% | Goodwill increased from the acquisition of Yueyang Baling Rural Commercial Bank | | Deferred Tax Assets | 80,804,110.74 | 31,356,270.83 | 157.70% | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Other Non-Current Assets | 276,143,080.52 | 1,043,865,678.64 | -73.55% | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Trading Financial Liabilities | 95,758,714.65 | 31,835,848.85 | 200.79% | Change in the value of a subsidiary's futures positions | | Notes Payable | 2,900,882,845.00 | 423,000,000.00 | 585.79% | A subsidiary's settlement method of using structured deposits to issue bank acceptance bills for supplier payments increased both trading financial assets and notes payable | | Accounts Payable | 506,695,216.20 | 370,290,033.81 | 36.84% | Increase in a subsidiary's payables for construction projects | | Advances from Customers | 209,551,810.35 | 37,812,775.22 | 454.18% | Increase in a subsidiary's commodity trade prepayments from customers | | Employee Benefits Payable | 32,761,771.70 | 90,567,226.13 | -63.83% | Payment of employee compensation accrued at the end of 2018 | | Taxes Payable | 147,321,048.97 | 102,268,899.17 | 44.05% | Corporate income tax payable for Q3 2019 was higher than in Q4 2018 | | Interest Payable | 105,766,353.30 | 32,471,035.27 | 225.73% | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Dividends Payable | - | 41,266,697.10 | -100.00% | Payment of 2017 dividends payable to Hunan Expressway Construction and Development Corporation | | Non-Current Liabilities Due within One Year | 159,800,000.00 | 427,212,720.00 | -62.59% | Decrease in long-term borrowings due within one year | | Borrowings from Central Bank | 200,000,000.00 | - | New this period | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Deposits from Customers and Interbank Deposits | 6,385,695,055.19 | - | New this period | Addition of new subsidiary Yueyang Baling Rural Commercial Bank | | Deferred Tax Liabilities | 47,206,849.65 | 13,860,315.34 | 240.59% | Valuation surplus from the acquisition of Yueyang Baling Rural Commercial Bank increased deferred tax liabilities | | Other Comprehensive Income | 63,740,753.26 | 42,665,578.28 | 49.40% | Increase in the stock price of Founder Securities held by the company | | Minority Interest | 799,903,586.89 | 380,123,410.50 | 110.43% | Addition of new subsidiary Baling Rural Commercial Bank | Major Income Statement and Cash Flow Statement Item Changes and Reasons (Jan-Sep 2019 vs. Jan-Sep 2018) | Item | Jan-Sep 2019 (RMB Yuan) | Jan-Sep 2018 (RMB Yuan) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Administrative Expenses | 249,419,482.48 | 159,000,665.80 | 56.87% | Addition of new subsidiary Baling Rural Commercial Bank | | Other Income | 8,528,218.74 | 3,746,485.07 | 127.63% | A subsidiary received new government grants related to daily operations | | Fair Value Change Gains (Losses marked with "-") | -130,342,764.48 | -17,634,936.51 | 639.12% | Significant losses from fair value changes in futures positions due to price differences between domestic and international spot markets | | Credit Impairment Losses | 86,994,709.21 | - | New this period | Addition of new subsidiary Baling Rural Commercial Bank | | Net Cash Flow from Investing Activities | -1,186,651,540.73 | -655,920,126.68 | 80.91% | Subsidiary Yueyang Baling Rural Commercial Bank made significant investments in bank interest rate bonds | | Net Cash Flow from Financing Activities | -750,186,005.43 | 239,397,993.64 | -413.36% | Increased repayment of bank loans during the period | Progress and Impact of Significant Events The company expanded its environmental technology business by establishing two new subsidiaries and delisted another from the NEEQ system - The company's wholly-owned subsidiary, Modern Environmental Technology Investment Co, Ltd, jointly established Hunan Modern Shouyi Environmental Technology Co, Ltd, which has completed its business registration[29] - Wholly-owned second-tier subsidiary Hunan Modern Environmental Technology Co, Ltd established Jilin Jixiang Ecological Development Co, Ltd, which has completed its business registration[29] - Wholly-owned second-tier subsidiary Hunan Modern Environmental Technology Co, Ltd applied to delist from the National Equities Exchange and Quotations (NEEQ) system[29] Overdue Commitments by Related Parties There were no overdue unfulfilled commitments from the company's controlling shareholders, affiliates, or other related parties during the reporting period - The company had no overdue unfulfilled commitments during the reporting period[32] Securities Investments The company holds shares in Founder Securities and has invested in several funds and trust products, with total securities valued at 309.45 million RMB Yuan Securities Investments During the Reporting Period | Security Name | Ticker | Accounting Method | Initial Book Value (RMB Yuan) | Fair Value Change (RMB Yuan) | Ending Book Value (RMB Yuan) | Funding Source | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Founder Securities | 601901 | Cost Method | 53,168,090.13 | 15,820,260.34 | 68,988,350.47 | Own Funds | | Yongfu No. 10 Fund | N/A | Fair Value | 45,391,500.00 | -- | 59,845,500.00 | Own Funds | | ICBC Cash Money Market Fund | N/A | Fair Value | 0.00 | -- | 67,130,079.75 | Own Funds | | Bosera Cash Income Money Market Fund | N/A | Fair Value | 0.00 | -- | 19,068,039.42 | Own Funds | | Zhongrong Cash Value-added Money Market Fund A | N/A | Fair Value | 0.00 | -- | 4,029,891.22 | Own Funds | | Huatai-PineBridge Tian Tian Bao B Fund | N/A | Fair Value | 0.00 | -- | 20,115,277.51 | Own Funds | | GF Money Market B Fund | N/A | Fair Value | 0.00 | -- | 20,141,008.84 | Own Funds | | ICBC Money Market Fund | N/A | Fair Value | 0.00 | -- | 15,114,427.21 | Own Funds | | ICBC Ruyi Money Market A Fund | N/A | Fair Value | 0.00 | -- | 35,013,982.89 | Own Funds | | Huaxin Trust * Fuxing No. 38 Trust Plan | N/A | Cost Method | 30,000,000.00 | 0.00 | 30,000,000.00 | Own Funds | - The total ending book value of the company's securities investments was 309,446,557.31 RMB Yuan, with a fair value change of 15,820,260.34 RMB Yuan during the period[36] Entrusted Wealth Management The company did not engage in any entrusted wealth management activities during the reporting period - The company had no entrusted wealth management during the reporting period[37] Derivatives Investments The company engaged in futures derivatives investments for arbitrage and hedging, resulting in a total realized gain of 154.58 million RMB Yuan - The company's derivatives investments are part of its subsidiaries' daily operations, focusing on spot-futures arbitrage, hedging, and offsetting transactions with liquid and active contracts[48] - A daily reporting system is in place for derivatives investments to strictly control unilateral position and operational risks, with all transactions conducted through major futures companies to manage financial and legal risks[48] Derivatives Investments During the Reporting Period (Unit: 10,000 RMB Yuan) | Operator Name | Derivative Type | Initial Investment Amount | Ending Investment Amount | Realized Gain/Loss | | :--- | :--- | :--- | :--- | :--- | | Dayou Futures Co, Ltd | Futures | 3,777.42 | 5,075.94 | 11,886.94 | | Dayou Futures Co, Ltd | Futures | 99.98 | 2,433.94 | -1,038.37 | | COFCO Futures Co, Ltd | Futures | 900 | -- | -286.2 | | Guosen Futures Co, Ltd | Futures | 400 | -- | 0 | | Sinosteel Futures Co, Ltd | Futures | 500 | -- | 0.7 | | Jingyi Gold Industry Co, Ltd | Futures | 1,000 | -- | 456.8 | | Tongguan Jinyuan Futures Co, Ltd | Futures | 600 | -- | -- | | Xinhu Futures Co, Ltd | Futures | 300 | -- | -0.98 | | CITIC Futures Co, Ltd | Futures | 10 | -- | -441.47 | | AMT Offshore Futures | Futures | 489.38 | -- | -744.78 | | Straits Financial (SG) Pte Ltd | Futures | 330.17 | -- | -1,166.41 | | GF FUTURES | Futures | 665.11 | -- | 2.56 | | Bank of China Limited OTC | Futures | 200 | 6,179.6 | 280.94 | | GF Futures Co, Ltd | Futures | 200 | 782.87 | 7.07 | | CCB Futures Co, Ltd | Futures | 200 | -- | 0.59 | | Founder CIFCO Futures Co, Ltd | Futures | 300 | 6,679.32 | -572.88 | | Guotai Junan Futures Co, Ltd | Futures | 250 | -- | 99.68 | | Jianghai Huixin Futures Co, Ltd | Futures | 500 | -- | 1,497.05 | | ICBC OTC | Futures | 356.85 | 22,578.23 | -5,753.54 | | Galaxy Futures Co, Ltd | Futures | 200 | 2,578.14 | 495.04 | | Wuxi Stainless Steel Electronic Trading Center Co, Ltd | Futures | 700 | -- | -10.89 | | Luzheng Futures Co, Ltd | Futures | 200 | 2,627.51 | 333.71 | | SDIC Anxin Futures Co, Ltd | Futures | 2 | 35.76 | 1,434.07 | | Minmetals & Jingyi Futures Co, Ltd | Futures | 200 | 2,706.36 | -381 | | Haitong Futures Co, Ltd | Futures | 400 | 5,787.46 | 889.26 | | Shanghai Futures Exchange | Futures | 450 | 0.39 | 0.49 | | INTC FCSTONE LTD | Futures | 672.35 | -- | -5,629.77 | | Bohai Futures Co, Ltd | Futures | 1,500 | 4,905.66 | 13,235.49 | | Shandong Zhaojin Group Co, Ltd | Futures | 300 | -- | 26.28 | | Dayou Futures Co, Ltd | Futures | 200 | 190.66 | 292.47 | | Jianghai Huixin Futures Co, Ltd | Futures | 200 | 0.03 | -130.99 | | CITIC Futures Co, Ltd | Futures | 372 | 162.56 | 179.73 | | SDIC Anxin Futures Co, Ltd | Futures | 1,050 | 0.98 | -121.81 | | Haitong Futures Co, Ltd | Futures | 200 | 107.44 | 239.72 | | Yongan Futures | Futures | 300 | 38.56 | 378.76 | | Total | -- | 14,247.84 | 62,871.41 | 15,458.26 | Investor Relations Activities No research visits, communications, interviews, or other similar activities were conducted during the reporting period - The company did not conduct any research visits, communications, or interviews during the reporting period[52] Irregular External Guarantees The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[53] Non-Operating Fund Occupation by Controlling Shareholders There was no non-operating fund occupation by the controlling shareholder or its related parties during the reporting period - The company reports no non-operating fund occupation by its controlling shareholder or related parties[54] Financial Statements This section presents the unaudited consolidated and parent company financial statements for Q3 2019 and details adjustments made due to the adoption of new financial instrument standards Financial Statements This part includes the consolidated and parent company balance sheets, income statements, and cash flow statements, providing a comprehensive view of the company's financial position and performance 1. Consolidated Balance Sheet As of September 30, 2019, the company's consolidated total assets reached 34.92 billion RMB Yuan, a 41.33% increase from the end of 2018 Key Consolidated Balance Sheet Data (as of September 30, 2019) | Item | Amount (RMB Yuan) | | :--- | :--- | | Total Assets | 34,918,230,569.60 | | Total Current Assets | 9,895,360,829.51 | | Total Non-Current Assets | 25,022,869,740.09 | | Total Liabilities | 24,201,695,064.35 | | Total Current Liabilities | 14,770,025,103.49 | | Total Non-Current Liabilities | 9,431,669,960.86 | | Total Equity Attributable to Parent Company | 9,916,631,918.36 | | Minority Interest | 799,903,586.89 | | Total Equity | 10,716,535,505.25 | 2. Parent Company Balance Sheet As of September 30, 2019, the parent company's total assets were 20.00 billion RMB Yuan, with total liabilities of 10.26 billion RMB Yuan Key Parent Company Balance Sheet Data (as of September 30, 2019) | Item | Amount (RMB Yuan) | | :--- | :--- | | Total Assets | 20,002,505,148.59 | | Total Current Assets | 2,421,663,767.00 | | Total Non-Current Assets | 17,580,841,381.59 | | Total Liabilities | 10,259,872,900.60 | | Total Current Liabilities | 3,783,072,900.60 | | Total Non-Current Liabilities | 6,476,800,000.00 | | Total Equity | 9,742,632,247.99 | 3. Consolidated Income Statement for the Reporting Period For Q3 2019, consolidated total operating revenue was 3.21 billion RMB Yuan, and net profit attributable to the parent company was 220.24 million RMB Yuan Key Consolidated Income Statement Data (July-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 3,206,808,118.35 | 4,538,841,021.80 | -29.48% | | Operating Profit | 294,779,930.06 | 376,358,600.19 | -21.70% | | Total Profit | 294,400,634.65 | 377,323,178.63 | -22.00% | | Net Profit | 213,897,612.83 | 306,555,630.41 | -30.28% | | Net Profit Attributable to Parent Company | 220,244,949.53 | 304,994,094.74 | -27.79% | | Minority Interest Gain/Loss | -6,347,336.70 | 1,561,535.67 | -506.43% | | Fair Value Change Gains | -140,992,217.90 | -872,802.34 | -16059.97% | | Basic Earnings Per Share (RMB Yuan/Share) | 0.1451 | 0.2009 | -27.78% | 4. Parent Company Income Statement for the Reporting Period For Q3 2019, the parent company's operating revenue was 730.90 million RMB Yuan, with a net profit of 295.85 million RMB Yuan Key Parent Company Income Statement Data (July-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 730,896,398.34 | 720,035,740.01 | 1.51% | | Operating Profit | 381,479,861.69 | 368,711,170.77 | 3.46% | | Total Profit | 380,386,787.79 | 367,906,148.80 | 3.39% | | Net Profit | 295,847,087.20 | 291,020,244.09 | 1.66% | 5. Consolidated Year-to-Date Income Statement From January to September 2019, consolidated total operating revenue was 9.94 billion RMB Yuan, and net profit attributable to the parent company was 822.03 million RMB Yuan Key Consolidated Year-to-Date Income Statement Data (Jan-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 9,940,204,787.03 | 8,992,171,325.12 | 10.54% | | Operating Profit | 1,070,410,817.79 | 1,013,537,025.85 | 5.61% | | Total Profit | 1,082,788,479.85 | 1,029,538,607.81 | 5.17% | | Net Profit | 819,897,716.11 | 802,247,311.71 | 2.19% | | Net Profit Attributable to Parent Company | 822,027,790.94 | 800,273,390.38 | 2.72% | | Minority Interest Gain/Loss | -2,130,074.83 | 1,973,921.33 | -207.95% | | Fair Value Change Gains | -130,342,764.48 | -17,634,936.51 | -639.12% | | Basic Earnings Per Share (RMB Yuan/Share) | 0.5416 | 0.5272 | 2.73% | 6. Parent Company Year-to-Date Income Statement From January to September 2019, the parent company's operating revenue was 2.06 billion RMB Yuan, with a net profit of 841.50 million RMB Yuan Key Parent Company Year-to-Date Income Statement Data (Jan-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,060,911,545.77 | 1,980,835,723.89 | 4.04% | | Operating Profit | 1,072,112,750.75 | 975,199,284.72 | 9.94% | | Total Profit | 1,081,925,620.07 | 986,581,953.50 | 9.66% | | Net Profit | 841,499,928.48 | 777,471,923.19 | 8.24% | 7. Consolidated Year-to-Date Cash Flow Statement From January to September 2019, net cash flow from operating activities was 1.03 billion RMB Yuan, while financing activities saw a net outflow of 750.19 million RMB Yuan Key Consolidated Year-to-Date Cash Flow Statement Data (Jan-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,027,453,203.60 | 813,785,681.83 | 26.26% | | Net Cash Flow from Investing Activities | -1,186,651,540.73 | -655,920,126.68 | -80.91% | | Net Cash Flow from Financing Activities | -750,186,005.43 | 239,397,993.64 | -413.36% | | Net Increase in Cash and Cash Equivalents | -908,546,136.35 | 396,929,902.63 | -328.17% | | Ending Balance of Cash and Cash Equivalents | 1,593,266,805.76 | 2,617,732,024.34 | -39.13% | 8. Parent Company Year-to-Date Cash Flow Statement From January to September 2019, the parent company's net operating cash flow increased by 73.19% to 1.62 billion RMB Yuan Key Parent Company Year-to-Date Cash Flow Statement Data (Jan-Sep 2019) | Item | Current Period Amount (RMB Yuan) | Prior Period Amount (RMB Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,615,492,330.28 | 932,872,212.84 | 73.19% | | Net Cash Flow from Investing Activities | -50,046,669.97 | -238,929,784.81 | 79.05% | | Net Cash Flow from Financing Activities | -1,555,745,731.36 | -591,110,249.67 | -163.19% | | Net Increase in Cash and Cash Equivalents | 9,699,928.95 | 102,832,178.36 | -90.56% | | Ending Balance of Cash and Cash Equivalents | 359,646,678.28 | 726,849,389.15 | -50.53% | Explanation of Financial Statement Adjustments The company adjusted opening balance sheet items as of January 1, 2019, to reflect the adoption of new financial instrument standards without restating prior periods 1. Adjustments to Opening Financial Statement Items upon Adoption of New Standards in 2019 The adoption of new financial instrument standards led to the reclassification of several financial assets and liabilities on the opening balance sheet - The company has implemented the new financial instrument standards since January 1, 2019, adjusting only the opening balance sheet data without restating comparative period information[129] - Key adjustments include reclassifying "Financial assets at fair value through profit or loss" to "Trading financial assets"[129] - "Available-for-sale financial assets" were reclassified to "Other equity investments," "Other current assets," and "Other non-current assets"[129] Key Consolidated Balance Sheet Adjustments (as of January 1, 2019) | Item | December 31, 2018 (RMB Yuan) | January 1, 2019 (RMB Yuan) | Adjustment (RMB Yuan) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | -- | 301,225,083.89 | 301,225,083.89 | | Financial Assets at Fair Value Through Profit or Loss | 120,512,672.26 | -- | -120,512,672.26 | | Other Receivables | 357,154,554.16 | 347,730,922.42 | -9,423,631.74 | | Other Current Assets | 1,117,970,950.37 | 946,682,170.48 | -171,288,779.89 | | Available-for-Sale Financial Assets | 64,971,968.44 | -- | -64,971,968.44 | | Other Equity Investments | -- | 53,168,090.13 | 53,168,090.13 | | Other Non-Current Financial Assets | -- | 11,803,878.31 | 11,803,878.31 | | Trading Financial Liabilities | -- | 31,835,848.85 | 31,835,848.85 | | Financial Liabilities at Fair Value Through Profit or Loss | 31,835,848.85 | -- | -31,835,848.85 | 2. Explanation of Retrospective Adjustments to Prior Period Comparative Data The company did not retrospectively adjust prior period comparative data, only adjusting the opening balance sheet figures for January 1, 2019 - The company did not retrospectively adjust prior period comparative data[140] Audit Report The company's third-quarter 2019 financial report has not been audited - The third-quarter report is unaudited[140]