SPC(SH:600688)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders was CNY -642,219, representing a decline of 138.41% year-on-year[5]. - Operating revenue for the first nine months was CNY 54,953,968, down 27.09% from the same period last year[5]. - Basic earnings per share were CNY -0.059, a decrease of 140.97% year-on-year[5]. - The company reported a loss from non-recurring items of CNY -823,377 for the first nine months[5]. - The company expects a significant decline in cumulative net profit for 2020 due to the ongoing impact of the global pandemic and fluctuations in international oil prices[13]. - The company's net profit for the third quarter of 2020 was a loss of CNY 632,549,000, representing a decline of 136.94% compared to a profit of CNY 1,712,502,000 in the same quarter of 2019[13]. - Total operating revenue for Q3 2020 was CNY 19,290,616, a decrease of 17.8% compared to CNY 23,377,016 in Q3 2019[20]. - Net profit for Q3 2020 reached CNY 1,075,769, compared to CNY 568,785 in Q3 2019, representing an increase of 89%[20]. - The total comprehensive income for Q3 2020 was CNY 957,963 thousand, up from CNY 414,214 thousand in the same period last year[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 44,941,275, a decrease of 1.52% compared to the end of the previous year[5]. - The total assets as of September 30, 2020, were CNY 44,941,275,000, slightly down from CNY 45,636,128,000 at the end of 2019[15]. - The total assets of the company as of the end of Q3 2020 were CNY 1,077,017 thousand, compared to CNY 568,785 thousand at the end of Q3 2019[22]. - The company’s total liabilities increased, with short-term borrowings rising to CNY 3,040,000,000 from CNY 1,547,600,000, reflecting increased financing needs[15]. - Current liabilities totaled CNY 15,358,975, an increase from CNY 13,593,431 in the previous year[19]. - The total liabilities increased to CNY 15,487,062 from CNY 13,732,296 year-over-year[19]. - The equity attributable to shareholders decreased to CNY 27,364,401 from CNY 29,510,906 in the previous year[19]. Cash Flow - The net cash flow from operating activities for the first nine months was CNY -2,114,789, an increase of 410.04% compared to the previous year[5]. - The cash flow from operating activities showed a net outflow of CNY 2,114,789,000, a 410.04% increase in outflow compared to CNY -414,628,000 in the same period last year[13]. - The company reported a net cash flow from operating activities of CNY (2,114,789) thousand for the first nine months of 2020, compared to CNY (414,628) thousand in the same period of 2019[24]. - Cash inflow from investment activities for the first nine months of 2020 was CNY 10,491,738 thousand, an increase from CNY 6,489,820 thousand in 2019[24]. - The company incurred total cash outflow from investment activities of CNY 15,477,651 thousand in Q3 2020, compared to CNY 9,316,312 thousand in Q3 2019[25]. - The financing activities generated a net cash flow of CNY 3,123,031 thousand in Q3 2020, compared to a net cash outflow of CNY (2,265,390) thousand in Q3 2019[25]. - The net increase in cash and cash equivalents was (3,645,175), compared to (5,841,930) in the previous period[27]. - The ending balance of cash and cash equivalents was 2,109,265, up from 1,277,083 in the previous period[27]. Shareholder Information - The total number of shareholders at the end of the reporting period was 92,829[7]. - The largest shareholder, Sinopec Limited, held 50.44% of the shares[7]. Research and Development - The company reported a significant increase in research and development expenses, which rose by 99.98% to CNY 56,596,000, driven by increased investment in carbon fiber research projects[12]. - Research and development expenses for Q3 2020 were CNY 11,068, up from CNY 7,922 in Q3 2019, indicating a focus on innovation[20]. Inventory and Operating Costs - Inventory decreased by 25.30% to CNY 5,045,633,000 from CNY 6,754,434,000, influenced by the pandemic and falling oil prices[11]. - The company’s total operating costs for Q3 2020 were CNY 18,151,906, reflecting a significant reduction compared to CNY 23,065,995 in Q3 2019[20]. - The company reported a decrease in operating costs to CNY 10,949,967 thousand in Q3 2020 from CNY 15,580,341 thousand in Q3 2019, reflecting a cost reduction strategy[22].