2018-10-30 16:00Financial Performance - Net profit attributable to shareholders decreased by 121.51% to a loss of CNY 268,314,660.54 for the first nine months of the year[8]. - Operating revenue for the first nine months increased by 13.97% to CNY 8,292,210,213.85 compared to the same period last year[8]. - Basic earnings per share decreased by 121.49% to a loss of CNY 0.0665 per share[8]. - The weighted average return on equity decreased by 5.49 percentage points to -0.96%[8]. - The company's EBITDA for the first nine months of 2018 was RMB 2.499 billion, down 29.08% year-on-year[15]. - Total profit for Q3 2018 reached CNY 64.55 million, down 85% from CNY 447.51 million in the same period last year[41]. - Net profit for Q3 2018 was CNY 23.46 million, a significant decline from CNY 438.03 million in Q3 2017[41]. - The total comprehensive income attributable to shareholders for the first nine months of 2018 was CNY 238.11 million, down from CNY 790.31 million in the same period last year[42]. Cash Flow - Net cash flow from operating activities decreased by 55.89% to CNY 1,067,268,328.80 for the first nine months[8]. - Cash flow from operating activities for the first nine months was 1,067,268,328.80 RMB, a decrease of 55.8% from 2,419,616,973.24 RMB in the same period last year[50]. - Cash inflow from operating activities totaled 7,836,507,840.78 RMB, down 14.6% from 9,178,628,132.72 RMB year-on-year[50]. - Cash outflow from operating activities was 6,769,239,511.98 RMB, slightly up from 6,759,011,159.48 RMB in the previous year[50]. - Cash flow from financing activities showed a net outflow of -1,073,151,410.21 RMB, a significant decrease from a net inflow of 3,245,883,472.34 RMB in the previous year[51]. - The cash and cash equivalents at the end of the period were 4,088,737,464.51 RMB, down from 6,314,564,722.29 RMB year-on-year[51]. Assets and Liabilities - Total assets increased by 4.81% to CNY 63,291,505,259.72 compared to the end of the previous year[8]. - The company's total assets reached ¥63,291,505,259.72, an increase of 4.7% compared to ¥60,390,928,285.33 at the beginning of the year[33]. - Total liabilities increased to ¥34,273,779,677.72, up from ¥32,122,841,643.90, reflecting a growth of 6.7%[33]. - The company's equity attributable to shareholders was ¥27,924,686,731.20, showing a slight decrease from ¥27,925,837,375.50 at the beginning of the year[33]. - The company's total non-current assets amounted to ¥55,471,182,270.84, an increase from ¥53,141,440,076.89 at the beginning of the year, reflecting a growth of 4.4%[32]. Shareholder Information - The total number of shareholders as of the report date was 111,202[12]. - The largest shareholder, China Ocean Shipping Group, holds 38.12% of the shares[11]. Operational Metrics - The company's total transportation volume reached 11,361.11 million tons, a year-on-year increase of 30.66%[15]. - The average daily earnings for VLCC on the Middle East-China route (TD3C) in Q3 2018 were USD 13,909, which is still below the industry average breakeven level[15]. - The company's operating costs increased by 37.12% year-on-year, reaching RMB 7.40 billion, primarily due to rising fuel prices and increased fleet capacity[21]. Government Support - The company received government subsidies amounting to CNY 3,630,645.17 for the first nine months[10]. Financial Strategy - The company plans to raise RMB 5.4 billion through a non-public offering to purchase 14 new oil tankers and 2 Panamax oil tankers[23]. - The company is focusing on expanding its market presence and enhancing operational efficiency to counterbalance rising costs and maintain profitability[40].