SPC(SH:600688)2019-10-23 16:00Financial Performance - Net profit attributable to shareholders was CNY 1,672,132, representing a decline of 64.12% year-on-year[5]. - Operating revenue for the first nine months was CNY 75,369,599, down 6.74% from the same period last year[5]. - Basic earnings per share were CNY 0.144, a decrease of 66.59% compared to CNY 0.431 in the previous year[6]. - The weighted average return on net assets was 5.112%, down 9.968 percentage points from the previous year[6]. - Total operating revenue for Q3 2019 was CNY 23,377,016, a decrease of 18.5% compared to CNY 28,632,763 in Q3 2018[23]. - Net profit for Q3 2019 was CNY 568,785, down 49.9% from CNY 1,133,689 in Q3 2018[24]. - The company reported a total profit of CNY 477,356 thousand in Q3 2019, down 67.1% from CNY 1,451,361 thousand in Q3 2018[25]. - Net profit for Q3 2019 was CNY 414,214 thousand, down 64.1% from CNY 1,154,441 thousand in Q3 2018[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 39,478,794, a decrease of 11.36% compared to the end of the previous year[5]. - Total assets decreased to CNY 39,478,794 thousand from CNY 44,539,960 thousand[16]. - Current liabilities decreased to CNY 9,854,476 thousand from CNY 13,913,014 thousand[17]. - The company's total equity decreased to CNY 29,460,504 thousand from CNY 30,486,504 thousand[17]. - Total liabilities decreased to CNY 8,320,217 as of September 30, 2019, from CNY 11,979,547 at the end of 2018, a decline of 30.5%[21]. - Total current assets decreased to CNY 16,644,539 as of September 30, 2019, from CNY 22,078,873 at the end of 2018, a decline of 24.7%[21]. - Total current liabilities were CNY 13,913,014, unchanged from the previous period[31]. - Total liabilities amounted to CNY 14,053,456, with an increase of CNY 76,633[31]. Cash Flow - The net cash flow from operating activities was negative CNY 414,628, a decrease of 112.43% compared to the previous year[5]. - Cash flow from operating activities for the first three quarters of 2019 was CNY -414,628 thousand, a significant decline from CNY 3,335,224 thousand in the same period of 2018[26]. - The company's cash and cash equivalents decreased to CNY 9,248,010 thousand from CNY 10,241,893 thousand[16]. - Cash and cash equivalents at the end of Q3 2019 amounted to CNY 2,748,010 thousand, down from CNY 9,815,831 thousand at the end of Q3 2018[27]. Shareholder Information - The total number of shareholders at the end of the reporting period was 87,362[8]. - The largest shareholder, Sinopec Limited, held 5,460,000,000 shares, accounting for 50.44% of total shares[8]. Non-Operating Income and Expenses - Non-operating income for the first nine months included a gain from the disposal of non-current assets amounting to CNY 118,642[7]. - The company reported a total of CNY 150,367 in non-recurring gains and losses for the reporting period[7]. - Income tax expenses decreased by 77.66% to CNY 285,697 thousand from CNY 1,279,038 thousand, attributed to a significant reduction in pre-tax profits[12]. - Net financial expenses increased by 38.16% to CNY 288,237 thousand from CNY 208,631 thousand, mainly due to foreign exchange gains[12]. - Asset impairment losses decreased by 70.26% to CNY 24,788 thousand from CNY 83,342 thousand, as no significant impairment was recognized for long-term assets[12]. Research and Development - Research and development expenses for Q3 2019 were CNY 7,922, compared to zero in Q3 2018, indicating a new focus on innovation[23]. - Research and development expenses for the first three quarters of 2019 totaled CNY 23,354 thousand, compared to no R&D expenses reported in the same period of 2018[25]. Inventory and Financial Instruments - The company reported a significant decrease in inventory to CNY 6,007,979 thousand from CNY 8,120,875 thousand[16]. - The company adopted new financial instrument standards and new leasing standards starting January 1, 2019, adjusting relevant items in the financial statements[34]. - The company has not made any retrospective adjustments to prior comparative data under the new leasing standards[34].