招商轮船(601872) - 2018 Q1 - 季度财报

Financial Performance - Revenue decreased by 21.00% to CNY 1,390,791,294.70 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 84.39% to CNY 47,183,462.32 compared to the same period last year[6] - Basic earnings per share decreased by 83.33% to CNY 0.01 compared to the same period last year[6] - The total profit for the period was 11.44 million RMB, a significant decrease of 97.83% compared to the previous year[18] - The net profit for the company was 6.23 million RMB, down 98.81% year-on-year[18] - Total operating revenue for Q1 2018 was CNY 1,390,791,294.70, a decrease of 21% compared to CNY 1,760,484,406.16 in the same period last year[26] - Net profit for Q1 2018 was CNY 6,231,229.43, a significant decline from CNY 523,260,798.20 in Q1 2017[27] - The total comprehensive income for Q1 2018 was CNY (622,664,008.34), compared to CNY 423,781,523.08 in the previous year[27] Assets and Liabilities - Total assets decreased by 2.00% to CNY 37,035,026,545.09 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 2.89% to CNY 14,776,693,484.61 compared to the end of the previous year[6] - Accounts receivable decreased by 59% to CNY 376,628,177.17 at the end of the reporting period[11] - Contract assets amounted to CNY 532,861,267.22 with no balance at the beginning of the year[11] - Prepayments decreased by 90% to CNY 2,408,105.02 at the end of the reporting period[11] - Other payables increased by 60% to CNY 64,657,619.30 at the end of the reporting period[11] - Current liabilities increased from ¥5,704,034,846.59 to ¥7,100,439,054.33, representing a rise of about 24.5%[22] - Long-term borrowings decreased from ¥12,765,493,316.00 to ¥11,237,703,819.17, a reduction of approximately 12%[22] - Total liabilities decreased slightly from ¥18,524,533,833.76 to ¥18,391,333,610.43, a decrease of about 0.7%[22] - Owner's equity decreased from ¥19,266,356,943.00 to ¥18,643,692,934.66, reflecting a decline of approximately 3.2%[22] - The company's fixed assets decreased from ¥25,201,073,403.68 to ¥24,756,379,876.77, a decline of approximately 1.8%[21] - The total non-current assets decreased from ¥30,341,591,060.10 to ¥29,693,931,357.78, a reduction of about 2.1%[21] Cash Flow - Operating cash flow net amount decreased by 64.31% to CNY 427,320,359.46 compared to the same period last year[6] - The company reported a net cash flow from operating activities of 427.32 million RMB, a decrease of 64% year-on-year due to a prolonged downturn in the tanker market[14] - Cash flow from operating activities was CNY 427,320,359.46, a decrease of 64.3% from CNY 1,197,333,127.49 in the same period last year[33] - The net cash flow from operating activities was negative at (5,641,347.22) RMB, compared to a positive 478,697,958.60 RMB in the previous period[37] - Cash inflow from investment activities totaled 286,146,000.00 RMB, while cash outflow was 787,301,980.02 RMB, resulting in a net cash flow of (501,155,980.02) RMB[34] - The net cash flow from financing activities was positive at 260,690,003.88 RMB, compared to 35,813,436.15 RMB in the previous period[34] - The total cash and cash equivalents at the end of the period amounted to 2,985,389,392.04 RMB, up from 2,836,112,626.90 RMB at the beginning of the period[34] - The company reported a net increase in cash and cash equivalents of 149,276,765.14 RMB during the period[34] Market and Operational Insights - The tanker fleet generated operating revenue of 1.017 billion RMB, a decline of 4.62 billion RMB year-on-year, with a net loss attributable to shareholders of 65.96 million RMB[18] - The bulk carrier fleet, managed by Hong Kong Minghua, achieved operating revenue of 343 million RMB, an increase of 68 million RMB year-on-year, with a net profit attributable to shareholders of 47.02 million RMB, a year-on-year increase of 213.33%[18] - The average TCE for the Middle East to East route dropped by 70.2% to approximately 8,009 USD/day[16] Regulatory and Strategic Developments - The company received approval from the China Securities Regulatory Commission to issue 761,453,821 shares for asset acquisition[13] - The company is actively processing the overseas investment filing for the acquisition of 100% equity in Hengxiang Holdings and China Economic Shipping (Hong Kong)[15] Other Financial Metrics - Financial expenses for the period amounted to 85.75 million RMB, an increase of 34% year-on-year, primarily due to rising USD interbank lending rates[14] - The company reported an investment income of CNY 31,440,820.29, a decrease from CNY 40,138,744.24 in the previous year[26] - Management expenses increased to CNY 67,797,169.32 from CNY 54,344,432.63, reflecting a rise of 24.5%[26] - The company experienced a significant loss in other comprehensive income, totaling CNY (628,895,237.77) compared to CNY (99,479,275.12) in the previous year[27] - The company's other comprehensive income showed a negative balance of ¥1,643,708,664.62, worsening from a negative balance of ¥1,156,770,865.87[22]