XCEC(SH:600777)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 91,882,390.36, representing a significant decline of 90.82% year-on-year[5]. - Operating revenue for the first nine months was CNY 3,625,069,795.22, down 17.23% from the same period last year[5]. - Basic earnings per share were CNY 0.014, reflecting a decrease of 90.67% year-on-year[5]. - The weighted average return on net assets was 0.57%, down 5.96 percentage points from the previous year[5]. - The company anticipates a significant decline in cumulative net profit for the year compared to the previous year, leading to expected losses[14]. - The net profit for Q3 2020 was a loss of ¥8,740,780.40, compared to a profit of ¥629,907,409.04 in Q3 2019[25]. - The company’s retained earnings showed a deficit of ¥1,181,296,179.94 as of the end of Q3 2020[22]. - For the first three quarters of 2020, the net profit was -9,899,803.11 RMB, compared to -11,912,504.46 RMB in the same period of 2019, indicating a 16.9% decrease in losses[27]. Revenue and Costs - Operating revenue decreased by 17% year-on-year, primarily due to falling oil and gas prices and production restrictions[13]. - Operating costs increased by 20% year-on-year, mainly due to the write-off of certain unproven mining rights assets[13]. - Total operating revenue for Q3 2020 was ¥1,159,195,777.12, a decrease of 32.2% compared to ¥1,709,573,856.14 in Q3 2019[23]. - Total operating costs for Q3 2020 were ¥1,073,813,984.63, down 3.99% from ¥1,118,446,710.57 in Q3 2019[24]. - Operating revenue from sales of goods and services for the first three quarters of 2020 was 3,844,041,190.04 RMB, down from 4,201,439,114.83 RMB in 2019, reflecting a decline of 8.5%[29]. Cash Flow - The net cash flow from operating activities for the first nine months was CNY 2,395,001,472.17, a decrease of 18.50% compared to the previous year[5]. - Cash flow from operating activities decreased by 19% year-on-year, primarily due to lower oil and gas sales revenue resulting from price declines and production restrictions[13]. - The cash flow from operating activities for the first three quarters of 2020 was 2,395,001,472.17 RMB, compared to 2,938,625,472.48 RMB in 2019, a decrease of 18.5%[30]. - The cash outflow from operating activities totaled 2,046,734,737.58 RMB in the first three quarters of 2020, compared to 1,758,358,893.09 RMB in 2019, an increase of 16.4%[30]. - The net cash flow from investing activities was -1,899,041,072.42 RMB, compared to -3,531,957,184.29 RMB in the previous period, indicating an improvement[31]. - The net cash flow from financing activities was -576,157,245.86 RMB, a significant decrease from 1,475,082,376.55 RMB in the prior period[31]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 26,891,579,670.23, a decrease of 5.46% compared to the end of the previous year[5]. - Total current assets as of September 30, 2020, amounted to approximately ¥731.92 million, down from ¥828.61 million at the end of 2019[16]. - Total current liabilities decreased from ¥2,480,293,642.27 to ¥1,272,215,043.76, a reduction of approximately 48.7%[18]. - Total liabilities decreased from ¥12,326,461,284.44 to ¥10,978,425,909.99, representing a decline of about 10.9%[18]. - Total non-current assets decreased from ¥26,272,554,149.21 to ¥25,097,055,523.32, a decrease of approximately 4.5%[17]. - Shareholders' equity decreased from ¥16,119,425,780.15 to ¥15,913,153,760.24, a decrease of approximately 1.3%[19]. Shareholder Information - The total number of shareholders at the end of the reporting period was 139,648[7]. - The largest shareholder, Ningbo Guojin Sunshine Equity Investment Center, held 434,343,434 shares, accounting for 6.39% of total shares[7]. Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[10]. - The company plans to focus on market expansion and new product development in the upcoming quarters[24].