2015-10-28 16:00Financial Performance - Operating revenue fell by 41.5% to CNY 36,580,781,000 from CNY 62,559,431,000[9] - Net profit attributable to shareholders was CNY -2,102,370,000, a significant decline from CNY -1,968,630,000 in the previous year[9] - Basic and diluted earnings per share were both CNY -0.149, reflecting a decline from CNY -0.022 in the previous year[9] - Total operating revenue for Q3 2015 was 13,459,496 thousand RMB, a decrease from 20,449,896 thousand RMB in the same period last year, representing a decline of approximately 34.5%[29] - The net profit attributable to the parent company for Q3 2015 was -679,712 thousand RMB, a significant decline from a profit of 344,513 thousand RMB in Q3 2014[29] - The total profit for Q3 2015 was -611,391 thousand RMB, compared to a profit of 556,207 thousand RMB in Q3 2014, reflecting a significant downturn[29] Cash Flow - Cash flow from operating activities improved to CNY -1,133,591,000, compared to CNY -4,293,963,000 in the same period last year[8] - Cash flow from operating activities for the first nine months of 2015 was -1,133,591 thousand RMB, an improvement from -4,293,963 thousand RMB in the same period of 2014[32] - The company experienced a net increase in cash and cash equivalents of 2,697,678 thousand RMB in Q3 2015, compared to a decrease of 56,380 thousand RMB in Q3 2014[33] - Cash inflow from financing activities is 5,954,000, compared to 5,246,511 in the previous year[36] - The net increase in cash and cash equivalents is 2,348,679, compared to a decrease of -29,016 in the same period last year[36] Assets and Liabilities - Total assets decreased by 4.9% to CNY 77,349,669,000 compared to the end of the previous year[8] - As of September 30, 2015, current assets totaled CNY 42,781,226 thousand, a decrease from CNY 45,824,701 thousand at the beginning of the year, representing a decline of approximately 6.7%[22] - Total liabilities decreased to CNY 54,569,934 thousand from CNY 62,599,570 thousand, a decline of about 12.8%[23] - The company's equity attributable to shareholders increased to CNY 22,780,717 thousand from CNY 18,697,120 thousand, representing a growth of approximately 21.0%[23] Shareholder Information - The number of shareholders reached 89,846, with 367 holding H shares[10] - The largest shareholder, China Petroleum & Chemical Corporation, holds 65.22% of the shares[11] Government Support and Income - Government subsidies recognized in the current period amounted to CNY 23,061,000, totaling CNY 42,148,000 for the year-to-date[10] - Non-operating income and expenses totaled CNY 21,388,000 for the current period[10] Inventory and Receivables - Accounts receivable decreased by 44.6% to RMB 15,560,571,000 from RMB 28,064,935,000, mainly due to accelerated collection of customer debts[15] - Inventory increased by 49.0% to RMB 17,782,994,000 from RMB 11,932,142,000, mainly due to delays in the overall settlement progress of new projects[15] Investment and Financing Activities - The net cash flow from financing activities increased by 42.4% to RMB 7,171,141,000 compared to RMB 5,036,662,000, primarily due to funds received from fundraising[16] - The company reported a total investment cash outflow of 3,405,385 thousand RMB for the first nine months of 2015, compared to 878,144 thousand RMB in the same period last year[32] Strategic Commitments - The company has committed to maintaining independence from its controlling shareholder, Sinopec Group, ensuring compliance with regulations regarding related party transactions[17] - The company plans to propose an equity incentive plan to the board after the completion of the major asset restructuring[20] - The major asset restructuring will prioritize business opportunities that may compete with the company's main operations, ensuring they are offered to the company first[20] - The company has committed to avoiding competition with its parent group, ensuring that any new business opportunities will be prioritized for the company[20]