COOEC(SH:600583)2023-10-29 16:00Financial Performance - Operating revenue for Q3 2023 was RMB 652,152.10 million, a decrease of 15.76% compared to the same period last year[3] - Net profit attributable to shareholders for the year-to-date period reached RMB 137,251.91 million, an increase of 64.40% year-on-year[3] - Basic earnings per share for the year-to-date period was RMB 0.31, reflecting a growth of 63.16% compared to the previous year[4] - The company reported a net profit of RMB 38,920.55 million for Q3 2023, which is a 10.02% increase compared to the same quarter last year[3] - The net profit for Q3 2023 was 139,595.96 million RMB, compared to 82,839.06 million RMB in Q3 2022, representing a significant increase[26] - The net profit attributable to shareholders of the parent company was 137,251.91 million RMB, up from 83,488.43 million RMB year-over-year[26] - The total comprehensive income attributable to shareholders of the parent company was 133,733.78 million RMB, compared to 66,605.34 million RMB in Q3 2022, reflecting strong performance[27] Cash Flow and Assets - Cash flow from operating activities for the year-to-date period was RMB 617,022.81 million, showing a significant increase of 117.24%[4] - The company's cash and cash equivalents increased significantly to CNY 634,072.70 million from CNY 212,300.69 million, marking a rise of about 198.5%[21] - The net cash flow from operating activities was 617,022.81 million RMB, compared to 284,033.65 million RMB in Q3 2022, showing a substantial improvement[29] - The company reported a net cash increase of 413,779.42 million RMB in cash and cash equivalents for the quarter, compared to a decrease of 14,575.63 million RMB in Q3 2022[29] - Cash inflow from operating activities totaled 2,746,531.48 million RMB, while cash outflow was 2,129,508.67 million RMB, resulting in a positive cash flow from operations[28] - The cash inflow from investment activities was 913,538.36 million RMB, while cash outflow was 1,019,376.19 million RMB, resulting in a net cash outflow from investment activities of 105,837.83 million RMB[29] Market and Contracts - The company achieved a market contract value of 8.422 billion RMB in the reporting period, representing a 236% increase year-over-year[14] - For the first three quarters, the cumulative market contract value reached 26.285 billion RMB, a 51% increase compared to the same period last year[14] - The domestic contract value was 18.650 billion RMB, up 24% year-over-year, while the overseas contract value surged by 276% to 7.635 billion RMB[14] - The company has a backlog of approximately 41.1 billion RMB in uncompleted orders, laying a solid foundation for long-term sustainable development[14] Operational Achievements - The company completed 18 land-based jackets and 16 modules, and installed 17 jackets and 13 modules offshore, with a total of 463 kilometers of subsea pipeline laid[15] - The construction volume of steel processing reached 340,000 structural tons, a 19% increase from 286,000 structural tons in the previous year[15] - The Tianjin LNG Phase II project has completed the mechanical work for the 8th storage tank and is ready for production[15] - The company is advancing several overseas projects, including the Marjan project in Saudi Arabia and the PAD14 project in Canada, with significant progress reported[16] - The company has maintained a stable operational performance across 64 projects, including 50 offshore oil and gas engineering projects[15] Financial Position - Total assets at the end of the reporting period were RMB 4,368,020.59 million, up 2.44% from the end of the previous year[4] - As of September 30, 2023, total assets amounted to CNY 4,368,020.59 million, up from CNY 4,263,896.22 million at the end of 2022, indicating a growth of approximately 2.4%[22] - The company’s total liabilities as of September 30, 2023, were CNY 1,709,478.12 million, compared to CNY 1,695,749.29 million at the end of 2022, showing a slight increase of about 0.8%[22] - The company’s equity attributable to shareholders increased to CNY 2,458,805.56 million from CNY 2,370,187.89 million, reflecting a growth of approximately 3.7%[22] Research and Development - Research and development expenses for the third quarter of 2023 were CNY 80,788.67 million, slightly down from CNY 82,492.01 million in the previous year[25] Strategic Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25] - The company emphasizes green transformation and has made significant achievements in cost reduction and efficiency improvement, leading to a substantial increase in operational performance[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 72,834[8] - The largest shareholder, China National Offshore Oil Corporation, holds 48.36% of the shares[8]