BHCC(SH:600800)2020-10-15 16:00Financial Performance - Operating revenue for the first nine months was CNY 1,810,866,575.83, down 39.07% year-on-year[6] - Net profit attributable to shareholders dropped by 73.59% to CNY 37,509,201.51 compared to the same period last year[6] - Basic and diluted earnings per share decreased by 83.90% to CNY 0.0374[7] - The company's total revenue for the reporting period was RMB 1,810,866,575.83, a decrease of 39.07% compared to the same period last year, primarily due to a decline in propylene prices and extended maintenance caused by the pandemic[14] - Net profit for the reporting period was RMB 37,349,779.66, down 73.68% year-on-year, largely due to maintenance stoppages at the subsidiary caused by the pandemic[15] - Total operating revenue for Q3 2020 was ¥1,034,944,914.18, a decrease of 6.98% compared to ¥1,112,841,572.47 in Q3 2019[28] - Net profit for Q3 2020 was ¥145,556,669.23, compared to ¥150,022,648.15 in Q3 2019, reflecting a decrease of 2.9%[30] - The company reported a total profit of ¥196,237,288.14 for Q3 2020, compared to ¥206,764,756.58 in Q3 2019, indicating a decline of 5.5%[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,999,594,912.93, a decrease of 1.24% compared to the end of the previous year[6] - Current assets totaled CNY 1,076,407,408.08, up from CNY 930,789,902.59 year-over-year, indicating a growth of approximately 15.7%[20] - Total liabilities rose to CNY 2,075,792,553.13 from CNY 1,776,751,204.42, marking an increase of about 16.8%[21] - The company's short-term borrowings increased to CNY 1,226,552,077.74 from CNY 1,066,648,054.06, a rise of approximately 15%[21] - Non-current assets totaled CNY 2,923,187,504.85, down from CNY 3,119,028,412.35, indicating a decrease of approximately 6.3%[20] Shareholder Information - Net assets attributable to shareholders decreased by 15.30% to CNY 1,931,893,081.22 compared to the end of the previous year[6] - The total number of shareholders at the end of the reporting period was 51,064[11] - The largest shareholder, Tianjin Bohai Chemical Group, held 39.02% of the shares, totaling 391,135,219 shares[11] - The equity attributable to shareholders decreased to CNY 1,931,893,081.22 from CNY 2,280,998,410.10, a decline of about 15.3%[22] Cash Flow - Net cash flow from operating activities increased significantly to CNY 733,778,860.37, up 3,092.94% year-on-year[6] - The company’s operating cash flow increased significantly by 3092.94% to RMB 733,778,860.37, driven by lower procurement costs of raw materials[15] - Cash flow from operating activities for the first three quarters of 2020 was ¥2,205,876,455.53, down from ¥3,455,033,897.64 in the same period of 2019[37] - Net cash flow from operating activities for Q3 2020 was ¥733,778,860.37, a significant increase compared to ¥22,981,302.49 in Q3 2019[38] Investment and Expenses - The company reported non-recurring gains and losses totaling CNY 688,699.39 for the reporting period[11] - The company's investment income decreased significantly by 441.44% to a loss of RMB 11,141,472.65 due to asset disposal losses in a joint venture[14] - Research and development expenses for Q3 2020 were ¥8,929,320.41, up 33.5% from ¥6,689,829.65 in Q3 2019[29] - The company experienced a credit impairment loss of ¥3,956,821.52 in Q3 2020, compared to ¥4,620,969.57 in Q3 2019[35] Future Outlook - The company completed the acquisition of 100% equity in Tianjin Bohai Petrochemical Co., Ltd., which is expected to contribute positively to future earnings[17] - The company anticipates turning a profit in 2020, based on preliminary calculations from the performance of Bohai Petrochemical in the third quarter[17]