pingmei coal(SH:601666)2015-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 1,640.07% to a loss of CNY 1.33 billion for the first nine months[7] - Operating revenue declined by 31.12% to CNY 8.57 billion year-on-year[7] - The weighted average return on net assets decreased by 12.78 percentage points to -12.04%[7] - The net profit excluding non-recurring gains and losses was a loss of CNY 1.34 billion, a decrease of 1,657.62% compared to the previous year[7] - The basic earnings per share were -CNY 0.5638, a decrease of 1,640.44% year-on-year[7] - The net profit for the period was a loss of ¥1,358,079,254.84, representing a decrease of ¥1,566,858,072.73 or 750.49% year-on-year, attributed to decreased coal demand and increased financial costs[19] - The net loss for Q3 2015 was ¥639,373,589.91, compared to a profit of ¥50,699,197.08 in Q3 2014[35] - The total profit for the first nine months of 2015 was -937,119,322.14 CNY, a significant decline from 258,026,036.77 CNY in the same period last year[39] Revenue and Costs - The company's operating revenue for Q3 2015 was ¥8,574,427,559.67, a decrease of ¥3,873,669,107.79 or 31.12% compared to the same period last year, primarily due to reduced sales volume and price of coal[17] - Total operating revenue for Q3 2015 was ¥2,700,197,148.19, a decrease of 30.0% compared to ¥3,892,183,619.79 in Q3 2014[34] - Operating revenue for the first nine months of 2015 was 8,156,813,204.52 CNY, a decrease of 29.5% from 11,596,348,344.17 CNY in the same period last year[38] - Operating costs for the first nine months of 2015 were 7,679,589,313.02 CNY, down from 9,961,184,561.55 CNY, reflecting a reduction of 22.9%[38] - Total operating costs for Q3 2015 were ¥3,352,374,688.70, down from ¥3,844,827,025.88 in Q3 2014, reflecting a reduction of 12.8%[35] Assets and Liabilities - Total assets increased by 9.78% to CNY 34.53 billion compared to the end of the previous year[7] - The company's total liabilities reached RMB 23.03 billion, compared to RMB 19.33 billion at the start of the year[29] - The company's current assets totaled RMB 10.86 billion, up from RMB 9.80 billion at the beginning of the year[27] - Accounts receivable increased by ¥2,399,110,124.61, a rise of 197.62%, mainly due to delayed payments in a weak coal market[14] - The company's long-term borrowings increased by ¥650,600,000.00, a rise of 34.17%, as some short-term loans were refinanced[16] - The company's total liabilities increased significantly, with accounts payable rising by ¥495,457,750.97, or 32.30%, primarily due to unpaid lease fees[15] Cash Flow - The company reported a net cash flow from operating activities of -CNY 2.16 billion, a decrease of 103.34% year-on-year[7] - Cash flow from operating activities showed a net outflow of ¥2,156,220,242.13, an increase in outflow of 103.34% compared to the previous year[20] - Operating cash inflow for the period (January to September) was CNY 5,728,785,063.18, down 27.0% from CNY 7,855,027,490.62 in the same period last year[41] - Net cash flow from operating activities was -CNY 2,156,220,242.13, compared to -CNY 1,060,406,242.44 in the previous year, indicating a worsening performance[41] - Cash inflow from financing activities totaled CNY 7,510,500,000, significantly higher than CNY 2,991,000,000 in the same period last year, marking a 151.5% increase[42] Shareholder Information - The number of shareholders reached 121,036 at the end of the reporting period[11] - The controlling shareholder, China Pingmei Shenma Energy & Chemical Group, increased its stake by purchasing 6,420,248 shares, representing 0.27% of the total share capital, at an average price of RMB 6.23 per share, totaling approximately RMB 40 million[23] - The controlling shareholder's total shareholding increased to 1,281,478,480 shares, accounting for 54.27% of the total share capital after the recent purchase[23] Market Conditions - The company anticipates a significant decline in cumulative net profit for 2015 compared to the previous year due to the ongoing downturn in the domestic coal market and weak downstream demand[25] - Coal production decreased by 9.70% to 22.92 million tons for the first nine months[11] - The sales volume of commercial coal fell by 13.21% to 20.43 million tons[11]