SPC(SH:600688)2021-10-27 16:00Revenue and Profitability - Revenue for the third quarter reached ¥24,726,487, an increase of 28.18% year-over-year[4] - Net profit attributable to shareholders decreased by 32.87% to ¥720,861 compared to the same period last year[4] - Basic earnings per share for the quarter were ¥0.067, down 33.00% year-over-year[4] - Total operating revenue for the first three quarters of 2021 reached CNY 61,863,093, an increase of 12.5% compared to CNY 54,953,968 in the same period of 2020[18] - Net profit attributable to shareholders of the parent company was CNY 1,965,050, compared to a net loss of CNY 642,219 in the first three quarters of 2020[18] - Operating profit for the first three quarters of 2021 was CNY 2,513,798, a significant recovery from an operating loss of CNY 945,416 in the same period of 2020[18] - The total comprehensive income for the first three quarters of 2021 was CNY 2,048,850, compared to a loss of CNY 640,557 in the same period of 2020[19] - Basic and diluted earnings per share for the first three quarters of 2021 were CNY 0.182, recovering from a loss of CNY 0.059 in the same period of 2020[19] Cash Flow and Investments - Operating cash flow for the quarter increased significantly by 159.18% to ¥2,045,941[4] - Cash flow from operating activities showed a net outflow of CNY 343,611, an improvement from a net outflow of CNY 2,114,789 in the same period of 2020[20] - Cash flow from investing activities resulted in a net outflow of CNY 3,877,409, compared to a net outflow of CNY 4,985,913 in the previous year[20] - Cash flow from financing activities generated a net inflow of CNY 534,316, a decrease from CNY 3,123,031 in the same period of 2020[21] Assets and Liabilities - Total assets at the end of the quarter were ¥47,225,715, reflecting a 5.53% increase from the previous year[4] - Current assets totaled RMB 23,432,359 thousand, up from RMB 17,304,843 thousand, indicating a significant increase of about 35.5% year-over-year[16] - Inventory increased to RMB 6,254,512 thousand from RMB 3,888,746 thousand, representing a rise of approximately 60.7%[16] - Short-term borrowings rose to RMB 3,540,000 thousand, compared to RMB 1,548,000 thousand, marking an increase of about 128.7%[17] - Total liabilities reached RMB 16,868,177 thousand, up from RMB 15,394,155 thousand, which is an increase of approximately 9.6%[17] - The total non-current assets decreased to RMB 23,793,356 thousand from RMB 27,444,330 thousand, reflecting a decline of about 13.4%[16] Shareholders' Equity - Shareholders' equity attributable to the parent company was ¥30,219,104, up 3.43% from the end of the previous year[4] - The company's equity attributable to shareholders was RMB 30,219,104 thousand, compared to RMB 29,218,033 thousand, reflecting a growth of about 3.4%[17] Research and Development - The company increased R&D investment, which contributed to the decline in net profit for the quarter[7] - Research and development expenses increased to CNY 75,153, up from CNY 58,596 in the previous year, reflecting a focus on innovation[18] Operational Performance - The demand for petroleum and petrochemical products significantly improved, leading to better operating performance year-to-date[7] - The company reported a government subsidy of ¥22,132 for the quarter, with a total of ¥33,544 year-to-date[5] - The company plans to continue focusing on improving operational efficiency and cash flow management[7] Accounts Receivable and Contract Liabilities - Accounts receivable increased to RMB 1,587,960 thousand from RMB 1,145,504 thousand, showing a growth of about 38.5%[16] - The company reported a significant increase in contract liabilities, which rose to RMB 794,321 thousand from RMB 496,521 thousand, indicating a growth of approximately 60.1%[17] Cash and Cash Equivalents - Cash and cash equivalents decreased to RMB 6,040,627 thousand from RMB 7,920,852 thousand, a decline of approximately 23.7%[16] - The cash and cash equivalents at the end of the period stood at CNY 3,227,641, down from CNY 3,469,317 at the end of the same period in 2020[21]