COOEC(SH:600583)2018-04-26 16:00Financial Performance - Operating revenue for the current period was CNY 1,256,190,911.81, a decline of 10.17% year-on-year[6] - Net profit attributable to shareholders was CNY -401,206,113.79, compared to CNY -231,833,597.58 in the same period last year[6] - Basic and diluted earnings per share were both CNY -0.08, compared to CNY -0.04 in the previous year[6] - The company's operating revenue for Q1 2018 was CNY 1.26 billion, a decrease of CNY 142.24 million or 10.17% compared to the same period last year, primarily due to low prices in the marine engineering service sector[19] - The net profit attributable to the parent company was a loss of CNY 360.25 million, a decrease of CNY 189.99 million compared to the previous year, driven by declining revenue and project pricing levels[20] - Operating profit for the current period is -¥423,851,484.67, compared to -¥200,966,466.95 in the previous period, indicating a worsening performance[40] - Net profit for the current period is -¥361,674,145.45, a significant increase in loss compared to -¥171,606,469.78 in the previous period[40] - Total comprehensive income for the current period is -¥386,781,542.93, compared to -¥173,193,940.81 in the previous period[41] Assets and Liabilities - Total assets decreased by 5.70% to CNY 26,778,616,997.84 compared to the end of the previous year[6] - Total assets at the end of the reporting period amounted to RMB 26.779 billion, with net assets attributable to shareholders at RMB 22.729 billion, resulting in a debt-to-asset ratio of 15%[11] - Total liabilities decreased from CNY 5.27 billion to CNY 4.04 billion, a decline of about 23.4%[32] - Owner's equity decreased from CNY 23.13 billion to CNY 22.73 billion, a reduction of approximately 1.7%[32] - Current liabilities decreased from CNY 4.85 billion to CNY 3.50 billion, representing a reduction of about 27.8%[31] - Non-current liabilities increased from CNY 421.10 million to CNY 540.20 million, an increase of approximately 28.3%[32] - Accounts receivable decreased to CNY 1.88 billion, down CNY 940.70 million or 33.35% from the end of the previous year, as project payments were settled[23] - Inventory rose to CNY 2.22 billion, an increase of CNY 522.59 million or 30.83% from the end of the previous year, due to completed projects awaiting settlement[23] Cash Flow - The company reported a net cash flow from operating activities of CNY -858,173,597.55, compared to CNY -454,904,081.66 in the previous year[6] - Cash flow from operating activities was negative CNY 858.17 million, a decrease of CNY 403.27 million compared to the previous year, reflecting reduced cash inflows from operations[25] - Cash inflow from operating activities totaled 1,914,444,144.58 RMB, down from 2,095,723,673.51 RMB in the prior period, reflecting a decrease of approximately 8.66%[45] - Cash outflow from operating activities increased to 2,772,617,742.13 RMB from 2,550,627,755.17 RMB, representing an increase of about 8.69%[45] - The net cash flow from investing activities was 671,651,278.04 RMB, up from 268,133,951.44 RMB, showing a significant increase of approximately 150.00%[46] - Cash inflow from investment activities reached 2,911,338,805.81 RMB, compared to 1,713,406,959.82 RMB in the previous period, marking an increase of about 69.73%[46] - Cash outflow for investment activities rose to 2,239,687,527.77 RMB from 1,445,273,008.38 RMB, indicating an increase of approximately 55.00%[46] - The net increase in cash and cash equivalents was -198,703,571.29 RMB, compared to -113,875,541.77 RMB in the previous period, indicating a worsening cash position[46] Shareholder Information - The total number of shareholders reached 126,318 at the end of the reporting period[9] - China National Offshore Oil Corporation holds 51.36% of the shares, making it the largest shareholder[9] Government Support and Other Income - The company received government subsidies amounting to CNY 13,287,000.00 during the reporting period[8] - Non-recurring gains and losses totaled CNY 40,958,431.88 for the current period[8] Operational Focus and Strategy - The company is focusing on enhancing project management and service quality while controlling comprehensive costs and strengthening safety and quality management[12] - The company is implementing a strategy to deepen reforms and promote internationalization, aiming to establish itself as a leading energy engineering company[14] - The company is actively promoting the use of new technologies, materials, and processes to reduce costs and improve efficiency in project management[14] - Safety management is prioritized, with initiatives to enhance safety culture and compliance with national safety production responsibility requirements[15]