SPC(SH:600688)2016-10-27 16:00Financial Performance - Net profit attributable to shareholders of the parent company rose by 83.91% to CNY 4,130,061,000 year-on-year[8] - Basic earnings per share increased by 83.65% to CNY 0.382[8] - The weighted average return on equity increased by 6.163 percentage points to 18.832%[8] - The company reported a revenue of CNY 54,584,662,000, a decrease of 11.33% compared to the previous year[8] - Net profit attributable to shareholders increased by 83.91% to CNY 4,130,061 thousand from CNY 2,245,704 thousand, reflecting a significant reduction in raw material costs and an increase in product gross margin[14] - Net profit for the first nine months reached CNY 4,136,298 thousand, compared to CNY 2,275,776 thousand in the previous year, indicating an increase of about 81.7%[26] - The company's gross profit margin improved, with gross profit for the first nine months at CNY 16,053,813 thousand, compared to CNY 15,548,287 thousand in the previous year, indicating a slight increase[26] - Earnings per share for the first nine months were CNY 0.382, up from CNY 0.208 in the same period last year, representing an increase of approximately 83.7%[26] Assets and Liabilities - Total assets increased by 7.98% to CNY 30,258,675,000 compared to the end of the previous year[7] - The company's total assets as of September 30, 2016, amounted to CNY 30,258,675 thousand, up from CNY 28,022,171 thousand at the beginning of the year[20] - The company's total assets as of September 30, 2016, amounted to CNY 28,475,975 thousand, up from CNY 27,234,352 thousand at the beginning of the year, reflecting a growth of approximately 4.6%[24] - The total liabilities decreased to CNY 7,034,291 thousand from CNY 7,886,271 thousand, indicating a reduction in financial obligations[21] - Current liabilities decreased significantly to CNY 5,469,097 thousand from CNY 7,450,784 thousand at the beginning of the year, a reduction of about 26.5%[24] Cash Flow - Operating cash flow increased by 56.45% to CNY 5,301,471,000 compared to the same period last year[7] - Net cash flow from operating activities increased to CNY 5,301,471, up 56.4% from CNY 3,388,685 year-on-year[32] - Cash inflow from investment activities totaled CNY 679,109, significantly higher than CNY 284,063 in the previous year, marking an increase of 139.5%[32] - Cash outflow for investment activities was CNY 690,541, up from CNY 546,134, resulting in a net cash flow of -CNY 11,432[32] - Cash inflow from financing activities decreased to CNY 2,087,432, down 92.4% from CNY 27,587,758 in the same period last year[32] - Net cash flow from financing activities was -CNY 2,857,041, a slight improvement from -CNY 2,910,861 year-on-year[32] - The ending cash and cash equivalents balance increased to CNY 3,506,929, compared to CNY 494,521 at the end of the same period last year[32] Shareholder Information - The total number of shareholders reached 126,843 by the end of the reporting period[9] - The largest shareholder, Sinopec Limited, holds 50.56% of the shares[9] Operational Efficiency - Operating costs decreased by 16.25% to CNY 38,530,849 thousand from CNY 46,009,615 thousand, driven by lower raw material costs due to falling crude oil prices[14] - The company has not made any provisions for risk reserves as per the new pricing mechanism for refined oil products[7] - The company's retained earnings increased by 75.72% to CNY 7,078,086 thousand from CNY 4,028,025 thousand, reflecting the current period's profitability[20] - The company reported a significant decrease in financial expenses by 98.41% to CNY 3,904 thousand from CNY 245,837 thousand, primarily due to reduced interest expenses[14] - The company’s inventory rose to CNY 4,598,026 thousand from CNY 3,955,550 thousand, indicating an increase of about 16.3%[24] - The company reported an investment income of CNY 623,056 thousand for the first nine months, an increase from CNY 499,849 thousand in the previous year, reflecting a growth of about 24.7%[26]