CMES(SH:601872)2018-01-23 16:00Financial Performance - The company expects a net profit attributable to shareholders of 560 million to 680 million yuan for 2017, representing a decrease of 61% to 68% year-on-year[1]. - The estimated decrease in net profit compared to the previous year amounts to 1.04997 billion to 1.16997 billion yuan[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to decrease by 556 million to 615 million yuan, a reduction of 61% to 67% year-on-year[3]. - The net profit for the same period last year was 1.72997 billion yuan, with a net profit after deducting non-recurring gains and losses of 916.85 million yuan[4]. Market Conditions - The average freight rate for VLCC routes has dropped by over 40% during the reporting period due to an imbalance in the international oil tanker transportation market[6]. - The company received significantly less special subsidy funds for ship scrapping and new construction compared to the previous year[6]. Asset Management - The company has made a fixed asset impairment provision of 419.87 million yuan for five Aframax crude oil tankers[6]. Forecast and Reporting - The performance forecast has not been audited by registered accountants, and the company emphasizes the absence of major uncertainties affecting the accuracy of the forecast[7]. - The forecast data is preliminary and the final audited financial data will be disclosed in the 2017 annual report[8].