OIE(SH:600278)2018-10-26 16:00Financial Performance - Operating revenue increased by 11.76% to CNY 12,761,346,129.88 for the period from January to September[6] - Net profit attributable to shareholders decreased by 1.53% to CNY 103,986,126.64 for the same period[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 87.67% to CNY 67,523,503.50[6] - Total operating revenue for Q3 2018 reached ¥4,325,826,454.96, an increase of 7.2% compared to ¥4,035,484,366.84 in Q3 2017[34] - Net profit for the first nine months of 2018 was ¥12,761,346,129.88, compared to ¥11,418,900,157.84 for the same period in 2017, indicating a growth of 11.8%[34] - The net profit for Q3 2018 reached ¥48,450,496.24, up 63.9% from ¥29,545,881.24 in the same period last year[35] - The total profit for Q3 2018 was ¥66,155,403.55, compared to ¥46,093,370.49 in Q3 2017, reflecting a growth of 43.6%[35] Asset and Liability Changes - Total assets decreased by 8.13% to CNY 7,841,132,161.39 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 9.06% to CNY 3,701,109,480.26 compared to the end of the previous year[6] - The company's total liabilities were RMB 3,867,051,834.57, down from RMB 4,174,125,441.47, indicating a reduction of about 7.4%[27] - The company's total equity was RMB 3,974,080,326.82, down from RMB 4,361,170,134.28, reflecting a decline of about 8.8%[27] - Total assets as of September 30, 2018, amounted to ¥4,294,082,874.44, down from ¥4,927,208,135.86 at the beginning of the year, a decrease of 12.9%[32] - Total liabilities decreased to ¥889,327,591.07 from ¥1,074,612,587.80, representing a reduction of 17.2%[32] Cash Flow Analysis - Net cash flow from operating activities decreased by 62.79% to CNY -359,465,080.25 due to cash payments related to the expiration of import business contracts[7] - Cash flow from operating activities decreased by 62.79% year-on-year, mainly due to cash payments related to expired import contracts by a subsidiary[16] - Cash inflow from operating activities for the first nine months of 2018 was 4,044,338,509.76 RMB, down from 13,619,391,864.30 RMB year-on-year[43] - Cash inflow from investment activities was 5,638,106,200.34 RMB, while cash outflow was 5,919,140,793.56 RMB, resulting in a net cash flow of -281,034,593.22 RMB[43] - Total cash outflow from financing activities was 472,871,280.56 RMB, leading to a net cash flow of -157,040,004.16 RMB[44] Shareholder Information - The top shareholder, Oriental International (Group) Co., Ltd., holds 67.46% of the shares[11] - The company reported a total of 352,312,948 shares held by its largest shareholder[11] Expense and Income Changes - Tax and additional fees increased by 47.82% year-on-year, primarily due to the growth in foreign trade sales[12] - Financial expenses decreased by 162.16% year-on-year, mainly due to increased exchange gains from fluctuations in the US dollar[12] - Asset impairment losses increased by 305.53% year-on-year, attributed to the provision for bad debts in line with accounting standards due to business expansion[12] - Investment income decreased by 44.26% year-on-year, as the company did not dispose of available-for-sale financial assets during the reporting period[12] - The company's total comprehensive income for Q3 2018 was -¥75,458,842.32, a significant decrease from ¥904,116,207.63 in Q3 2017[36] Inventory and Receivables - Accounts receivable increased by 35.67% compared to the beginning of the period, reflecting growth in sales scale[14] - Inventory increased by 45.34% compared to the beginning of the period, due to increased stocking by a subsidiary[14] - The company's inventory increased to RMB 625,876,876.46 from RMB 430,638,795.04, showing a growth of about 45.2%[25] Future Plans and Commitments - The company plans to issue exchangeable bonds not exceeding RMB 500 million, with the application materials submitted for review[18] - The company has committed to addressing potential liabilities related to ongoing litigation and arbitration, with a focus on maintaining financial stability[22] - The company is actively promoting the external trade company to resolve historical debt disputes and meet relevant conditions for asset injection[21] - The company aims to implement asset restructuring in accordance with market fair prices and regulatory requirements[21]