2020-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 68.0% to CNY 231,703,000 year-on-year[5] - Operating revenue for the first nine months decreased by 2.5% to CNY 46,427,919,000 compared to the same period last year[5] - Basic earnings per share decreased by 68.4% to CNY 0.012 per share[6] - The weighted average return on net assets decreased by 8.41 percentage points to 3.37%[5] - Total operating revenue for Q3 2020 was 14,995,482 thousand RMB, a decrease of 13.5% compared to 17,343,907 thousand RMB in Q3 2019[22] - Net profit for Q3 2020 was -66,574 thousand RMB, compared to a net profit of 213,765 thousand RMB in Q3 2019, indicating a significant decline[22][23] - Basic earnings per share for Q3 2020 were -0.004 RMB, compared to 0.011 RMB in Q3 2019[23] - Total comprehensive income for the first three quarters of 2020 was CNY -15,815, compared to CNY -13,492 in the same period of 2019, indicating a decline of about 17.2%[25] Cash Flow - Net cash flow from operating activities decreased by 30.0% to CNY 628,588,000 year-on-year[5] - Cash flow from operating activities for the first three quarters of 2020 was CNY 42,910,576, down from CNY 47,286,692 in 2019, a decrease of about 9.0%[26] - Cash flow from operating activities in Q3 2020 was CNY 628,588, compared to CNY 897,769 in Q3 2019, reflecting a decline of approximately 30.0%[27] - The net increase in cash and cash equivalents for Q3 2020 was -11 million, resulting in a total cash balance of 159 million at the end of the period[29] - The beginning cash and cash equivalents balance was 170 million, indicating a decrease of 11 million during the quarter[29] Assets and Liabilities - Total assets increased by 5.5% to CNY 65,467,095,000 compared to the end of the previous year[5] - Total liabilities rose to 58,118,068 thousand RMB from 55,305,506 thousand RMB, indicating increased financial obligations[18] - The company's equity attributable to shareholders increased to 7,349,027 thousand RMB from 6,763,872 thousand RMB, showing improvement in shareholder value[18] - The total assets as of September 30, 2020, were 32,290,057 thousand RMB, slightly down from 32,291,674 thousand RMB at the end of 2019[20] - Total liabilities for Q3 2020 were 50,239 thousand RMB, an increase from 38,339 thousand RMB in Q3 2019[21] - The total equity attributable to shareholders was 32,239,818 thousand RMB, down from 32,253,335 thousand RMB at the end of 2019[21] Operational Changes - Accounts receivable decreased to 0 from 500 thousand RMB, a 100% change, due to improved capital efficiency and reclassification to financing receivables[13] - Prepayments increased by 40.8% to 779,619 thousand RMB, primarily due to increased construction material reserves[13] - Inventory rose by 37.9% to 1,634,891 thousand RMB, mainly due to an increase in unfinished labor projects[13] - Contract assets increased by 56.3% to 14,961,286 thousand RMB, attributed to an increase in completed but unsettled projects[13] - Construction in progress surged by 125.3% to 481,718 thousand RMB, mainly due to the purchase of drilling equipment in Saudi Arabia[13] Expenses - Financial expenses rose by 43.4% to 883,403 thousand RMB, primarily due to increased foreign exchange losses from RMB fluctuations[14] - Research and development expenses for Q3 2020 amounted to 184,074 thousand RMB, a decrease from 203,963 thousand RMB in Q3 2019[22] - The company's management expenses for the first three quarters of 2020 were CNY 15,814, a decrease from CNY 17,703 in the same period of 2019, representing a reduction of approximately 10.7%[25] Shareholder Information - The total number of shareholders reached 122,044, with the largest shareholder holding 56.51% of shares[8] - The company has not issued preferred shares, and there are no known related party relationships among major shareholders[11] Product and Market Development - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The company did not apply the new revenue and leasing standards for the year 2020, as indicated in the financial report[29]