CMES(SH:601872)2014-10-27 16:00Financial Performance - Net profit attributable to shareholders of the listed company was RMB 313.07 million, a significant recovery from a loss of RMB 201.16 million in the same period last year[9]. - Net profit for the period was ¥310,332,799.79, a significant turnaround from a loss of ¥203,333,759.68 in the same period last year, attributed to better market conditions and effective cost control[15]. - Net profit for Q3 2014 was ¥58,504,986.89, compared to a net loss of ¥64,303,971.50 in Q3 2013[37]. - Net profit for the third quarter was CNY 53,994,673.92, representing an increase of 26.3% from CNY 42,723,677.25 in the previous year[41]. - The company expects a significant turnaround in net profit for the year compared to the previous year, driven by favorable shipping market conditions and effective cash management[23]. Revenue and Income - Operating income for the first nine months decreased by 8.66% year-on-year, totaling RMB 1.76 billion[9]. - Total operating revenue for Q3 2014 was ¥570,702,394.02, a decrease of 9.2% compared to ¥628,802,475.45 in Q3 2013[36]. - The company's operating revenue for the first nine months of 2014 was CNY 1,878,422,839.25, a decrease of 4.5% compared to CNY 1,966,968,850.90 in the same period last year[44]. - The company reported an investment income of CNY 184,018,521.07 for the first nine months, an increase of 57.6% from CNY 116,674,723.03 in the previous year[41]. Assets and Liabilities - Total assets increased by 32.46% year-on-year, reaching RMB 22.38 billion at the end of the reporting period[9]. - The company reported a total asset of CNY 22,384,533,936.87 as of September 30, 2014, an increase from CNY 16,899,267,808.60 at the beginning of the year, representing a growth of approximately 32.5%[27]. - Current assets totaled CNY 9,609,566,389.11, up from CNY 6,021,725,023.86 at the beginning of the year, indicating a growth of about 59.5%[27]. - The total liabilities amounted to CNY 8,720,218,527.08, compared to CNY 6,923,284,100.93 at the start of the year, marking an increase of around 25.9%[29]. Shareholder Information - The total number of shareholders reached 169,422 by the end of the reporting period[12]. - The largest shareholder, China Merchants Industry Holdings, held 40.93% of the shares, totaling 1,932,481,959 shares[12]. Cash Flow - Net cash flow from operating activities increased by 35.93% year-on-year, amounting to RMB 739.38 million[9]. - The company reported a net cash flow from operating activities of CNY 739,378,010.31, an increase of 36.0% compared to CNY 543,922,859.30 in the previous year[45]. - Cash inflow from financing activities was $500,000,000.00, with no cash outflow recorded, resulting in a net cash flow from financing activities of $500,000,000.00[50]. Investments and Capital Expenditures - Long-term equity investments rose by 44.23% to ¥930,531,358.84, mainly due to increased investment in the joint venture CLNG[14]. - The company plans to build 10 new large bulk carriers as part of a 25-year iron ore shipping contract with Vale International[19]. - The joint venture CLNG made significant progress in the Yamal LNG transportation project, with a total capital investment of up to $149.54 million planned, including $49.44 million in 2014[16]. Operational Efficiency - The weighted average return on net assets improved by 4.768 percentage points, reaching 3.1086%[9]. - The average daily TCE for VLCC was $27,500, and for Cape, it was $21,100, both significantly higher than the assessments by Clarkson or the Baltic Exchange[20]. - The company completed the sale and dismantling of 5 aging bulk carriers during the reporting period[16]. Other Financial Metrics - Basic and diluted earnings per share were both RMB 0.0663, compared to a loss of RMB 0.0426 per share in the previous year[10]. - Other comprehensive income was reported at CNY -1,695,290,140.26, slightly improved from CNY -1,727,175,609.73 at the beginning of the year[29]. - The company adjusted its accounting policies, resulting in a retrospective increase of CNY 39,919,700.87 in other comprehensive income at the beginning of the year[24].