COSL(SH:601808)2017-10-26 16:00Financial Performance - Operating revenue for the first nine months was RMB 11,757.3 million, an increase of 8.8% year-on-year[6] - The net profit attributable to shareholders of the listed company was RMB -146.4 million, compared to RMB -9,091.7 million in the previous year, indicating a substantial improvement[6] - The weighted average return on net assets improved to -0.42%, an increase of 21.17 percentage points from -21.59% in the previous year[6] - For the first three quarters of 2017, the group's revenue was RMB 11,757.3 million, an increase of RMB 953.2 million, or 8.8% year-on-year[12] - The group's net profit for the same period was RMB -118.6 million, a significant improvement of RMB 8,969.9 million compared to RMB -9,088.5 million in the previous year[12] - Total profit for the nine months was RMB 65.9 million, a turnaround from a loss of RMB -9,045.0 million in the previous year, reflecting improved operating performance[26] - Net profit for the period was RMB -118.6 million, a reduction in loss of RMB 8,969.9 million compared to RMB -9,088.5 million in the previous year[28] - Basic earnings per share improved to RMB -0.03, an increase of RMB 1.88 from RMB -1.91 in the previous year, reflecting reduced losses[29] Cash Flow - Net cash flow from operating activities increased significantly to RMB 1,105.0 million, up 1079.3% compared to the same period last year[6] - Cash flow from operating activities for the nine months was a net inflow of RMB 1,105.0 million, an increase of RMB 1,011.3 million year-on-year, driven by improved cash receipts from operations[44] - In Q3 2017, the net cash flow from operating activities was CNY 1,104,971,605, a significant increase compared to CNY 93,681,595 in the previous year[66] - For the first nine months of 2017, cash inflow from operating activities was CNY 8,519,967,058, an increase from CNY 7,453,747,492 year-over-year[67] Assets and Liabilities - Total assets at the end of the reporting period were RMB 73,641.4 million, a decrease of 8.6% compared to the end of the previous year[6] - The company reported a substantial reduction in liabilities, with total liabilities decreasing to CNY 39.06 billion from CNY 45.25 billion, a decline of about 13.7%[54] - The company's cash and cash equivalents decreased to CNY 5.34 billion from CNY 6.09 billion at the beginning of the year, reflecting a decline of approximately 12.5%[52] - Accounts receivable increased significantly to CNY 8.21 billion, up from CNY 4.80 billion, indicating a rise of approximately 71.5%[52] - The company reported a decrease in total equity to CNY 34.58 billion from CNY 35.30 billion, a decline of about 2.0%[54] Cost Management - The total operating cost for the first three quarters was RMB 12,041.3 million, a decrease of RMB 8,021.8 million, or 40.0% year-on-year[17] - The group focused on cost control measures, leading to significant reductions in employee compensation, material consumption, repair costs, and leasing expenses[17] - Sales expenses increased to RMB 16.8 million, up RMB 4.0 million, or 31.3% year-on-year[20] - Total operating costs decreased slightly to ¥4,503,358,597 from ¥4,523,760,478 year-over-year, indicating improved cost management[60] Shareholder Information - The total number of shareholders was 71,530 at the end of the reporting period[9] - The largest shareholder, China National Offshore Oil Corporation, held 50.53% of the shares[9] Investment and Financing Activities - The company reported a net cash flow from investment activities of CNY 5,035,494,472, compared to a negative net cash flow of CNY -1,026,400,129 in the previous year[67] - The company had a cash outflow from financing activities of CNY 6,236,433,259, which increased from CNY 4,683,215,728 in the same period last year[67] - Short-term borrowings increased to RMB 2,322.9 million, up RMB 1,629.2 million or 234.9% from RMB 693.7 million at the beginning of the year, primarily due to new borrowings[36] Operational Performance - The total operating days for drilling platforms reached 6,410 days, an increase of 331 days, or 5.4% year-on-year[14] - The available day utilization rate for self-elevating drilling platforms increased by 5.0 percentage points to 61.7%[13] - The total operating days for the group's owned fleet was 21,004 days, an increase of 3,363 days, or 19.1% year-on-year[15] - The three-dimensional data acquisition increased by 7,923 square kilometers to 23,218 square kilometers, a growth of 51.8% year-on-year[16] Other Information - The company has not reported any new product or technology developments in this quarter[6] - There are no significant mergers or acquisitions reported during this period[6] - The company aims to improve equipment utilization and operational workload in the fourth quarter of 2017 to enhance overall performance[49] - The company plans to continue its market expansion efforts and cost-cutting initiatives to achieve better operational results for the full year 2017[49] - The company received government subsidies of CNY 50,832,113 in Q3 2017, compared to CNY 3,220,000 in the same period last year[66]