COSL(SH:601808)2018-04-27 16:00Financial Performance - Operating revenue increased by 12.1% to RMB 3,427.9 million year-on-year[6] - Net profit attributable to shareholders was a loss of RMB 651.1 million, compared to a loss of RMB 557.2 million in the same period last year[6] - Basic earnings per share were reported at -0.14 RMB, compared to -0.12 RMB in the previous year[6] - The company reported an investment income of CNY 56,749,440, compared to CNY 53,676,309 in the previous period, an increase of 5.8%[49] - The company’s comprehensive loss for Q1 2018 was CNY 845,081,126, compared to a comprehensive loss of CNY 549,447,654 in the previous period[49] - Net loss for Q1 2018 was CNY 643,988,131, compared to a net loss of CNY 545,637,375 in the previous period, representing a decline of 17.9%[49] - Total comprehensive income for Q1 2018 was a loss of CNY 182,068,140, compared to a loss of CNY 261,525,528 in Q1 2017[51] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of RMB 847.9 million, a decrease of 531.5% compared to the previous year[6] - As of March 31, 2018, the group's cash and cash equivalents amounted to RMB 4,653.0 million, a decrease of RMB 4,426.0 million or 48.7% from the beginning of the year[25] - Cash and cash equivalents decreased to CNY 3,578,424,707 from CNY 7,478,802,581 at the beginning of the year, a decline of 52.2%[46] - Cash flow from operating activities showed a net outflow of CNY 847,924,632, compared to a net inflow of CNY 196,527,126 in the previous year[54] - The company’s cash flow from financing activities showed a net outflow of CNY 521,307,936, compared to a net inflow of CNY 1,254,860,823 in Q1 2017[54] Assets and Liabilities - Total assets decreased by 4.2% to RMB 70,811.8 million compared to the end of the previous year[6] - Total assets as of March 31, 2018, were CNY 58,484,387,078, down from CNY 60,052,864,932 at the beginning of the year[47] - Total liabilities as of March 31, 2018, were CNY 21,446,430,192, a decrease from CNY 22,831,306,986 at the beginning of the year[47] - The group's accounts receivable notes decreased to RMB 22.2 million, down RMB 63.3 million or 74.0% compared to the beginning of the year[26] - The group's accounts payable decreased to RMB 6,314.6 million, down RMB 690.4 million or 9.9% from the beginning of the year[43] Operational Metrics - The number of operating days for drilling platforms increased to 2,275 days, a year-on-year increase of 19.4%[12] - The utilization rate for self-elevating drilling platforms rose to 64.3%, up 8.7 percentage points year-on-year[11] - The company's fleet operated for 7,319 days, an increase of 887 days, with a calendar utilization rate of 88.1%, up 6.9 percentage points year-on-year[15] - The number of operating days for oilfield service business lines increased, leading to a corresponding rise in overall revenue[14] Financial Expenses and Income - Financial expenses increased to RMB 509.5 million, a rise of 73.2% compared to RMB 294.1 million in the same period last year[17] - Asset impairment losses rose to RMB 2.0 million, a significant increase of 900.0% from RMB 0.2 million year-on-year[18] - The company reported asset disposal gains of RMB 219.8 million, compared to a loss of RMB -7.1 million in the previous year[19] - Other income increased to RMB 19.4 million, a 100.0% increase from RMB 0.0 million in the same period last year[20] Shareholder Information - The total number of shareholders reached 72,526 by the end of the reporting period[8] - The largest shareholder, CNOOC Group, holds 50.53% of the shares, totaling 2,410,849,300 shares[9] Future Outlook - The group expects better performance in Q2 2018 compared to Q1, driven by new contract operations and seasonal factors[41] - The group faces challenges in the first half of the year due to uncertainties in client budget execution and rising industry costs[41]