COSL(SH:601808)2018-10-30 16:00Financial Performance - Operating revenue for the first nine months was RMB 13,718.4 million, an increase of 16.5% compared to the same period last year[6]. - The net profit attributable to shareholders of the listed company for the reporting period was RMB -763.8 million, worsening from RMB -502.9 million year-on-year[7]. - The weighted average return on net assets decreased by 0.30 percentage points to -0.80%[7]. - The net profit for the same period was RMB -263.1 million, indicating a loss[12]. - Total revenue for Q3 2018 reached ¥5,578,352,285, an increase of 19.6% compared to ¥4,662,614,813 in Q3 2017[63]. - Net profit for Q3 2018 was ¥100,185,699, down 54.5% from ¥220,394,489 in Q3 2017[63]. - Net profit for the first nine months of 2018 was RMB 1,235,357,354, up 48.1% from RMB 834,264,406 in the same period last year[67]. - Total profit for Q3 2018 was RMB 586,360,235, an increase of 26.7% from RMB 462,633,911 in Q3 2017[67]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 73,887.3 million, a decrease of 0.1% compared to the beginning of the period[6]. - The total liabilities of the company stood at CNY 39.56 billion, compared to CNY 39.25 billion at the beginning of the year, reflecting an increase of about 0.8%[58]. - The company's equity attributable to shareholders decreased to CNY 34.19 billion from CNY 34.56 billion at the beginning of the year, a decline of approximately 1.1%[58]. - The company's cash and cash equivalents decreased to CNY 4.31 billion from CNY 9.08 billion at the beginning of the year, representing a decline of approximately 52.5%[56]. - Trade and accounts receivable increased to RMB 9,985.6 million, up RMB 3,647.4 million or 57.5% from RMB 6,338.2 million at the beginning of the year, influenced by industry conditions and customer approval processes[32]. - Inventory increased to RMB 1,543.9 million, an increase of RMB 395.4 million or 34.4% from RMB 1,148.5 million at the beginning of the year, due to increased production materials in line with operational volume[34]. - The company reported a significant increase in other current assets, rising to CNY 3.41 billion from CNY 2.18 billion, an increase of approximately 56.2%[56]. Cash Flow - Net cash flow from operating activities was RMB -758.2 million, a significant decrease from RMB 1,109.8 million in the same period last year[6]. - The net cash outflow from operating activities was RMB 758.2 million, an increase of RMB 1,868.0 million compared to the previous year, primarily due to higher cash payments for goods and services[47]. - The net cash outflow from investing activities was RMB 2,545.7 million, an increase of RMB 4,625.4 million year-on-year, mainly due to a decrease in cash recovered from investment activities[48]. - The net cash outflow from financing activities was RMB 1,714.9 million, a decrease of RMB 2,968.0 million compared to the previous year, primarily due to reduced cash payments for debt repayment[49]. - Cash flow from investment activities showed a net outflow of -2,664,583,236, compared to a net inflow of 5,032,024,472 in the previous period[73]. - The total cash outflow from financing activities was 1,139,217,693, significantly lower than the previous period's 6,236,433,259[73]. Shareholder Information - The total number of shareholders at the end of the reporting period was 66,807[10]. - The largest shareholder, China National Offshore Oil Corporation, held 50.53% of the shares[10]. Research and Development - Research and development expenses for the first nine months of 2018 amounted to RMB 396.6 million, up RMB 105.3 million or 36.1% compared to the same period last year[19]. - Research and development expenses increased to ¥161,650,867, representing a 53.9% rise from ¥105,001,094 in Q3 2017[63]. - Research and development expenses increased to RMB 391,395,456 for the first nine months, a 39.3% rise compared to RMB 281,414,210 in the previous year[67]. Market Conditions and Future Outlook - The oilfield services industry continues to face intense competition, with service prices remaining low, which poses significant challenges for the company's operations[53]. - The company anticipates a potential net loss for the year, driven by project delays and increased costs due to environmental regulations[53]. - The company plans to enhance market expansion efforts and improve equipment utilization rates to counteract cost pressures[53].