COMEC(SH:600685)2015-10-30 16:00Financial Performance - Operating revenue for the first nine months reached CNY 17.14 billion, a 22.72% increase year-on-year[7] - The net profit attributable to shareholders was negative CNY 947.09 million, worsening from negative CNY 381.44 million year-on-year[7] - Basic and diluted earnings per share were both negative CNY 0.6880, compared to negative CNY 0.2928 in the previous year[8] - The company reported a net profit margin improvement, with retained earnings at ¥1.37 billion compared to ¥2.45 billion, indicating a decrease in retained earnings of approximately 44%[26] - The net profit for Q3 2015 was a loss of ¥418,227,593.79, compared to a loss of ¥161,460,070.02 in Q3 2014, indicating a significant increase in losses[30] - The total profit for Q3 2015 was a loss of ¥549,237,514.91, worsening from a loss of ¥97,332,031.76 in Q3 2014[30] - The total comprehensive income for Q3 2015 was a loss of ¥419,181,349.78, compared to a loss of ¥162,520,483.49 in the same quarter last year[32] Assets and Liabilities - Total assets increased by 5.76% to CNY 46.26 billion compared to the end of the previous year[7] - The company's total assets increased significantly, with financial assets available for sale rising by 32.54% to ¥19,120,853.85[15] - Current liabilities rose to ¥29.42 billion, up from ¥27.53 billion, indicating an increase of about 6.9%[22] - Total liabilities increased to ¥36.92 billion from ¥35.03 billion, reflecting a growth of about 5.4%[22] - Owner's equity totaled ¥9.34 billion, an increase from ¥8.71 billion, reflecting a growth of approximately 7.2%[23] Cash Flow - Net cash flow from operating activities was negative CNY 4.78 billion, compared to negative CNY 3.39 billion in the same period last year[7] - Cash flow from operating activities showed a net outflow of ¥4,780,837,586.11, worsening from a net outflow of ¥3,387,107,616.16 in the previous year[37] - Net cash flow from financing activities increased by 542.33% to ¥3,803,703,043.36 due to funds raised from stock issuance and differences in borrowing scale[16] - Cash inflow from financing activities totaled CNY 9,483,007,913.97, compared to CNY 6,850,314,700.75 in the previous year, marking a 38.0% increase[40] Shareholder Information - The total number of shareholders at the end of the reporting period was 52,514[12] - HKSCC NOMINEES LIMITED held 41.66% of shares, making it the largest shareholder[12] - China Shipbuilding Industry Group Company owned 35.50% of shares, ranking second among shareholders[12] Operational Changes and Commitments - The company committed to restructuring and integration within five years post-reorganization to eliminate industry competition issues[18] - The company will not engage in competing businesses with its controlling enterprises, ensuring compliance with legal and regulatory standards[18] - The company has pledged to maintain independence in personnel, assets, business, and financial aspects post-reorganization[20] - The company will actively assist in government communication regarding compensation related to the relocation of its facilities[20] - The company has committed to covering any shortfall in government compensation for relocation-related expenses within 90 days of receipt[20] Receivables and Inventory - Accounts receivable increased by 117.18% to ¥1,559,501,655.22 due to an increase in ship payments[15] - Other receivables decreased by 35.01% to ¥213,254,851.50 primarily due to the recovery of export tax rebates[15] - Inventory levels rose to ¥10.40 billion, up from ¥8.34 billion, reflecting an increase of approximately 25%[21] - Accounts receivable increased significantly to ¥1.09 billion from ¥0.41 billion, marking a rise of approximately 163.5%[25] Expenses - The company reported a significant increase in sales expenses by 293.30% to ¥138,188,235.17 due to the accrual of ship warranty costs[16] - The company reported an investment income of ¥19,068,307.62 for Q3 2015, down from ¥58,055,637.08 in Q3 2014[30] - The company incurred financial expenses of ¥243,628,948.18 in Q3 2015, significantly higher than ¥2,490,793.26 in Q3 2014[29] - Sales expenses increased to ¥21,372,815.85 in Q3 2015, compared to ¥9,545,854.14 in Q3 2014, reflecting a 124.5% rise[35]