SFX(SH:600370)2020-10-30 16:00Financial Performance - Operating revenue for the first nine months decreased by 29.67% to CNY 12,200,954,804.04 compared to the same period last year[17]. - Net profit attributable to shareholders decreased by 37.66% to CNY 406,392,323.78 compared to the same period last year[17]. - Basic earnings per share decreased by 37.65% to CNY 0.1111 compared to the same period last year[19]. - The weighted average return on equity decreased by 11.41 percentage points to 7.51% compared to the same period last year[17]. - Net profit decreased by 36.68% to RMB 426,207,890.39 from RMB 673,084,907.80[28]. - Operating profit decreased by 33.73% to RMB 632,078,064.74 from RMB 953,727,736.01[28]. - The total revenue for Q3 2020 was approximately ¥3.79 billion, a decrease of 37.1% compared to ¥5.99 billion in Q3 2019[52]. - The net profit for Q3 2020 was approximately ¥158.78 million, a decrease of 30.3% compared to ¥227.47 million in Q3 2019[55]. - The company reported a net loss of ¥12,745,371.04 for Q3 2020, worsening from a loss of ¥2,020,680.42 in Q3 2019[60]. - Total comprehensive income amounted to ¥158,778,345.55, a decrease from ¥673,086,783.88 in the previous period[57]. Cash Flow - Net cash flow from operating activities decreased by 107.36% to -CNY 340,980,306.10 compared to the same period last year[17]. - Cash flow from operating activities showed a significant decline of 107.36%, resulting in a net outflow of RMB 340,980,306.10 compared to an inflow of RMB 4,633,793,962.54[28]. - Total cash inflow from operating activities decreased to 13,266,778,743.97 RMB, down 33.5% from 19,858,978,545.98 RMB year-over-year[66]. - Cash outflow from operating activities was 13,607,759,050.07 RMB, a reduction of 10.7% compared to 15,225,184,583.44 RMB in the previous year[66]. - The company received 74,397,011.38 RMB in tax refunds, down 60.1% from 190,445,827.68 RMB in the previous year[66]. - Cash received from other operating activities was 109,322,993.09 RMB, a decrease of 91.6% compared to 1,300,121,195.63 RMB in the same period of 2019[66]. Assets and Liabilities - Total assets decreased by 13.67% to CNY 13,066,412,508.33 compared to the end of the previous year[17]. - Total liabilities decreased by 51.84% to RMB 344,790,000.00 from RMB 715,912,500.00[28]. - The company's total equity increased by 358.73% to RMB 3,657,166,407.00 from RMB 797,244,230.00[28]. - The total assets amounted to approximately ¥5.37 billion, compared to ¥1.20 billion in the previous year, indicating significant growth[52]. - The total liabilities were approximately ¥63.20 billion, a decrease from ¥104.79 billion year-over-year[52]. - Non-current liabilities decreased from ¥9,677,608,995.07 to ¥7,210,159,150.53, a reduction of about 25.5%[42]. - Current liabilities decreased from ¥8,961,696,495.07 to ¥6,865,369,150.53, representing a decrease of approximately 23.4%[40]. - The total liabilities to total assets ratio improved from approximately 73.9% to 55.2%[42]. Shareholder Information - The total number of shareholders at the end of the reporting period was 27,222, with the largest shareholder holding 81.14% of the shares[22]. - The company's retained earnings increased from ¥845,826,259.64 to ¥1,228,301,256.52, an increase of approximately 45.2%[42]. - Shareholders' equity totaled ¥5,456,979,801.04, with total equity attributable to shareholders at ¥5,219,442,276.97[80]. Operational Changes - The company completed a major asset restructuring, with Hailun Petrochemical becoming a wholly-owned subsidiary from September 2020[19]. - The company completed the acquisition of Helen Petrochemical, which is now a wholly-owned subsidiary, as part of a major asset restructuring[33]. - The company plans to invest in a PTA production line expansion project with an annual capacity of 3.2 million tons, which has received preliminary approval[33]. - The company experienced a decrease in sales prices and gross profit margins due to the impact of the pandemic and market changes[19]. - The company reported a significant reduction in sales expenses due to decreased external sales revenue caused by the pandemic, leading to lower shipping and insurance costs[32]. - The company reported a significant reduction in financial expenses by 92.02% to RMB 45,100,877.68 from RMB 565,442,337.19[28]. Inventory and Receivables - Accounts receivable financing decreased by 34.95% to RMB 62,796,211.28 from RMB 96,529,682.60[25]. - Prepayments increased by 74.58% to RMB 135,372,053.52 from RMB 77,542,580.42[25]. - Other receivables decreased by 67.50% to RMB 1,084,923.61 from RMB 3,338,465.54[25]. - Construction in progress surged by 827.02% to RMB 168,848,279.81 from RMB 18,214,161.40[25]. - Accounts receivable decreased to approximately ¥1.87 billion from ¥2.13 billion, representing a reduction of about 12%[37]. - Inventory decreased to approximately ¥1.80 billion from ¥2.09 billion, a decrease of about 14%[37].