2016-10-26 16:00Financial Performance - Net profit attributable to shareholders was CNY -8,987,975,000, a significant decline from CNY -2,102,370,000 in the same period last year[4] - Operating revenue fell by 24.1% to CNY 27,781,621,000 from CNY 36,580,781,000 year-on-year[4] - The company's operating profit for the nine months ended September 30, 2016, was -8,823,734 thousand RMB, a decrease of 343.7% compared to -1,988,596 thousand RMB in the same period of 2015, primarily due to significant operating losses[9] - The total profit for the first nine months was -8,674,682 thousand RMB, a significant increase in loss compared to -1,808,701 thousand RMB in the previous year[26] - Net profit for Q3 was -4,348,488 thousand RMB, compared to a net loss of -679,712 thousand RMB in the same period last year[26] - Operating profit for Q3 was -4,384,312 thousand RMB, compared to -638,714 thousand RMB in the same period last year[26] - Basic and diluted earnings per share were both CNY -0.626, indicating a significant loss compared to CNY -0.149 in the previous year[5] - Basic and diluted earnings per share for Q3 were both -0.306 RMB, compared to -0.048 RMB in the same period last year[26] Assets and Liabilities - Total assets decreased by 12.9% to CNY 74,342,384,000 compared to the end of the previous year[4] - Total assets decreased from 85,307,777 thousand RMB to 74,342,384 thousand RMB, a decline of approximately 12.3%[21] - The total owner's equity decreased from 24,638,094 thousand RMB to 15,871,734 thousand RMB, a decline of about 35.5%[20] - The company's total liabilities included accounts payable of 1,686,181 thousand RMB, up 31.3% from 1,284,745 thousand RMB, indicating increased use of notes payable[9] - The total liabilities decreased from 60,670,824 thousand RMB to 58,471,790 thousand RMB, a reduction of about 3.6%[20] - Current liabilities decreased from 59,903,473 thousand RMB to 57,612,742 thousand RMB, a reduction of about 3.8%[20] - Non-current assets decreased from 35,796,735 thousand RMB to 33,199,542 thousand RMB, a decline of about 7.3%[19] Cash Flow - The company reported a net cash flow from operating activities of CNY -4,628,084,000, compared to CNY -1,133,591,000 in the same period last year[4] - Operating cash inflow for the first nine months was CNY 35,434,980, a decrease of 19.5% from CNY 44,102,805 in the previous year[31] - Net cash flow from operating activities was negative CNY 4,628,084, compared to negative CNY 1,133,591 in the same period last year[31] - Cash received from sales and services was CNY 25,916,941, a decline of 37.5% from CNY 41,492,881 year-on-year[31] - Total cash outflow for operating activities was CNY 40,063,064, a decrease of 11.5% from CNY 45,236,396 in the previous year[31] - Cash inflow from investment activities totaled CNY 127,273, up from CNY 25,910 year-on-year[32] - Net cash flow from investment activities was negative CNY 397,028, an improvement from negative CNY 3,379,475 in the previous year[32] - Cash inflow from financing activities was CNY 41,540,077, down from CNY 45,399,856 year-on-year[32] - Net cash flow from financing activities was CNY 5,098,859, compared to CNY 7,171,141 in the same period last year[32] - The ending cash and cash equivalents balance was CNY 2,135,297, down from CNY 3,899,432 at the end of the previous year[32] Shareholder Information - The number of shareholders reached 166,627, with the largest shareholder, China Petroleum & Chemical Corporation, holding 65.22% of shares[6] Other Financial Metrics - The weighted average return on net assets was -44.47%, a decrease of 34.54 percentage points compared to the previous year[5] - The company recorded an investment income of 14,134 thousand RMB, a significant improvement from a loss of 4,691 thousand RMB in the previous year, primarily from entrusted loans[9] - The company reported an investment income of 7,455 thousand RMB for Q3, compared to a loss of 4,691 thousand RMB in the previous year[25] - The company incurred financial expenses of 125,237 thousand RMB in Q3, a decrease from 336,259 thousand RMB in the same period last year[25] - The company reported a sales expense of 13,341 thousand RMB for Q3, compared to 11,381 thousand RMB in the same period last year[25] - The company’s deferred income increased by 41.0% to 83,209 thousand RMB, mainly due to new national special funds[9] - The company’s undistributed profits showed a significant loss of -7,716,278 thousand RMB, a decrease of 776.1% compared to a profit of 1,141,287 thousand RMB in the previous year, primarily due to substantial operating losses in 2016[9] - The company experienced a 34.9% decrease in business tax and surcharges, totaling 244,847 thousand RMB, mainly due to a decline in operating revenue[9] - Accounts receivable decreased by 38.5% to CNY 16,676,092,000, attributed to faster collection efforts[8] - Inventory increased from 14,769,275 thousand RMB to 15,407,211 thousand RMB, reflecting a growth of approximately 4.3%[19] - The company's other receivables rose from 2,432,785 thousand RMB to 3,625,888 thousand RMB, an increase of approximately 49.2%[19] - Short-term borrowings increased by 43.5% to 17,316,784 thousand RMB from 12,070,312 thousand RMB, reflecting a rise in borrowing scale at the end of the period[9] - The company's long-term borrowings increased slightly from 618,969 thousand RMB to 685,257 thousand RMB, an increase of about 10.7%[20] - The company reported a 62.6% decrease in construction in progress, amounting to 1,014,591 thousand RMB, primarily due to reduced capital expenditures and the conversion of some projects to fixed assets[9] - Non-current asset disposal losses amounted to CNY -3,596,000 during the reporting period[6]