CISC(SH:601005)2016-10-30 16:00Financial Performance - Operating revenue for the first nine months was CNY 3,685,165,000, a decrease of 45.18% year-on-year[6] - Net profit attributable to shareholders was -CNY 3,659,065,000, a decline of 14.04% compared to -CNY 3,208,442,000 in the previous year[7] - Basic and diluted earnings per share were both -CNY 0.697, showing a 3.33% improvement from -CNY 0.721[7] - The company's net loss for the period was -10,803,019 thousand RMB, worsening from -7,711,755 thousand RMB in the previous year[26] - The company's operating profit for the first nine months of 2016 was a loss of CNY 3,655,750,000, compared to a loss of CNY 3,209,184,000 in the same period last year, representing an increase in losses of about 13.9%[33] - The net profit attributable to the parent company for Q3 2016 was a loss of CNY 1,300,921,000, compared to a loss of CNY 996,297,000 in Q3 2015, indicating a worsening of approximately 30.5%[32] - The total comprehensive income for Q3 2016 was a loss of CNY 1,300,927,000, compared to a loss of CNY 996,297,000 in the same quarter last year, reflecting an increase in losses of about 30.5%[32] Assets and Liabilities - Total assets decreased by 4.72% to CNY 37,378,402,000 compared to the end of the previous year[6] - The company's total liabilities as of September 30, 2016, amounted to 35,968,109 thousand RMB, compared to 35,219,932 thousand RMB at the beginning of the year, reflecting an increase of approximately 2.1%[26] - The total assets of the company decreased to 37,281,730 thousand RMB from 39,222,408 thousand RMB at the beginning of the year, a decline of about 4.9%[28] - The company's total equity attributable to shareholders decreased to 1,317,501 thousand RMB from 3,988,873 thousand RMB, a decline of approximately 67%[26] - The company has a significant amount of short-term borrowings, totaling 5,517,666 thousand RMB as of September 30, 2016, compared to 3,492,152 thousand RMB at the beginning of the year[24] - Short-term borrowings increased to 5,517,666 thousand RMB from 3,492,152 thousand RMB, representing an increase of about 58%[28] Cash Flow - Net cash flow from operating activities improved by 90.06%, reaching -CNY 140,426,000 compared to -CNY 1,413,062,000 in the same period last year[6] - The total cash inflow from operating activities for the first nine months of 2016 was CNY 13,344,669,000, compared to CNY 7,733,288,000 in the previous year, showing an increase of approximately 73.5%[37] - The total cash outflow from operating activities for the first nine months of 2016 was CNY 13,485,095,000, compared to CNY 9,146,350,000 in the same period last year, indicating an increase of about 47.5%[37] - Operating cash inflow for the first nine months of 2016 was CNY 12,854,684 thousand, compared to CNY 7,255,924 thousand in the same period last year, representing a significant increase[40] - Net cash flow from operating activities for Q3 2016 was -CNY 138,132 thousand, an improvement from -CNY 1,413,392 thousand in Q3 2015[41] - Total cash inflow from financing activities in Q3 2016 was CNY 8,466,541 thousand, up from CNY 6,132,696 thousand in the previous year[41] Shareholder Information - The total number of shareholders reached 174,019 by the end of the reporting period[12] - The largest shareholder, Chongqing Iron and Steel (Group) Co., Ltd., held 47.27% of the shares, with 1,996,181,600 shares under lock-up[13] Government Support and Restructuring - The company received government subsidies amounting to CNY 115,985,000 related to its normal business operations[9] - The company reported a debt restructuring gain of CNY 450,000,000 during the period[10] - The company is undergoing a major asset restructuring, with independent financial and legal advisors engaged, and the process is ongoing[16] - The company anticipates continued losses through the next reporting period due to the challenging steel market conditions[20] Inventory and Costs - Inventory levels dropped significantly to 1,204,882 thousand RMB from 2,775,485 thousand RMB, indicating a reduction of about 56.5%[27] - Total operating costs for Q3 2016 were 2,646,660 thousand RMB, down from 3,210,784 thousand RMB in the same period last year, indicating a reduction of about 18%[30]