COOEC(SH:600583)2014-10-29 16:00Financial Performance - Operating revenue for the first nine months reached CNY 15.31 billion, an increase of 18.41% compared to the same period last year[10] - Net profit attributable to shareholders surged by 95.03% to CNY 2.59 billion year-on-year[10] - Basic earnings per share increased by 73.53% to CNY 0.59 per share[10] - The total profit for the first nine months of 2014 was CNY 1,868,827,241.10, compared to CNY 945,138,446.67 for the same period in 2013, indicating a year-on-year increase of 97.8%[83] - Net profit for Q3 2014 reached CNY 710,827,307.82, up from CNY 264,726,787.06 in the same period last year, representing a growth of 168.5%[83] - The gross profit margin for Q3 2014 was approximately 23.5%, compared to 11.7% in Q3 2013, reflecting improved operational efficiency[83] Assets and Liabilities - Total assets increased by 2.74% to CNY 28.88 billion compared to the end of the previous year[10] - The total liabilities and shareholders' equity increased by 2.74% to 28.875 billion RMB as of September 30, 2014, compared to 28.104 billion RMB at the end of 2013[44] - The total liabilities decreased to CNY 9,971,246,971.75 from CNY 11,511,172,656.61, indicating a reduction of about 17%[71] - The company's accounts receivable decreased to CNY 2,732,244,347.99 from CNY 4,334,437,118.49, a decline of about 37%[69] - The inventory level surged to CNY 4,736,976,886.96, compared to CNY 1,715,611,771.37 at the beginning of the year, reflecting a significant increase of approximately 176%[69] Cash Flow - Net cash flow from operating activities decreased by 36.84% to CNY 1.25 billion compared to the previous year[10] - The net cash flow from operating activities was 1.252 billion RMB, a decrease of 36.84% year-on-year, attributed to some projects not reaching payment milestones[49] - Operating cash flow for the first nine months of 2014 was CNY 474,757,682.29, a decrease of 61% compared to CNY 1,220,739,701.39 in the same period last year[93] - The company reported a total cash outflow from financing activities of CNY 2,353,952,813.33, compared to CNY 278,924,871.42 in the previous year[93] - The net cash flow from financing activities was CNY -1,953,952,813.33, a significant decrease from CNY 3,193,447,326.03 in the same period last year[93] Shareholder Information - The total number of shareholders reached 166,389 by the end of the reporting period[14] - The largest shareholder, China National Offshore Oil Corporation, holds 51.34% of the shares[14] - The company's net profit attributable to the parent company for the first three quarters reached 2.593 billion RMB, resulting in an increase of 32.81% in undistributed profits to 8.704 billion RMB compared to the end of the previous year[48] Project and Market Development - The company secured a market contract amount of RMB 23.894 billion in the first three quarters, which is a 139% increase year-on-year, with domestic orders amounting to RMB 11.516 billion (up 29%) and international orders reaching RMB 12.378 billion, a historical high[28] - The company operated 22 engineering projects in the third quarter, including 17 offshore oil and gas field development projects and 5 onshore LNG construction projects[19] - The company signed its first overseas EPCI general contract for the Zawtika project in Myanmar, valued at USD 367 million[28] - The company has strengthened its international market development efforts, collaborating with partners like Kvaerner and Technip on multiple international project bids[28] Recognition and Awards - The company received government subsidies amounting to CNY 79.19 million during the reporting period[11] - The company received the "Excellent Manufacturing Contractor" award from Technip, marking a significant recognition in the underwater production facilities sector[29] - The company was included in the "Hang Seng A-Share 100 Index" for the first time, indicating its growing market presence[18] Investment and Expenses - The company’s investment income increased by 205.46% to RMB 161.25 million, driven by returns from bank financial products and foreign currency contracts[39] - The company reported a 272.40% increase in sales expenses, primarily due to efforts to expand international markets[37] - The company’s total cash outflow from investment activities was CNY 5,517,129,539.89, compared to CNY 1,884,331,776.31 in the previous year[93]