CSICL(601989)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,102,697.57 million, an increase of 27.56% compared to the same period last year[2]. - The net profit attributable to shareholders was a loss of CNY 66,498.32 million, with a year-to-date loss of CNY 125,219.12 million, representing a significant decline of 2,363.43% year-on-year[2][4]. - Revenue for the first nine months of 2022 was 259.62 billion RMB, an increase of 4.49% from 248.47 billion RMB in the same period of 2021[14]. - The company's net profit attributable to shareholders, excluding non-recurring gains and losses, was -125,219.12 million RMB for the first nine months of 2022, a significant decrease compared to 5,532.28 million RMB in the same period of 2021, representing a year-on-year decline of 2,363.43%[15]. - The total comprehensive income for Q3 2022 was a loss of ¥427.38 million, contrasting with a gain of ¥122.86 million in the same quarter of the previous year[25]. - Net profit for Q3 2022 was a loss of ¥1.32 billion, compared to a profit of ¥19.46 million in Q3 2021, indicating a significant decline[24]. Cash Flow - The net cash flow from operating activities for the year-to-date period was -CNY 685,377.14 million, indicating increased procurement expenditures[3][4]. - The net cash flow from operating activities was -6,853,771,439.56 CNY, compared to -4,299,690,269.45 CNY in the previous year, indicating a decline of approximately 59.4%[28]. - Cash inflows from operating activities totaled approximately ¥31.58 billion, an increase from ¥30.40 billion in the previous year[26]. - The cash inflow from financing activities totaled 20,529,642,036.03 CNY, up from 14,199,051,548.00 CNY, marking an increase of around 44.0%[28]. - The net cash flow from financing activities was 7,090,189,953.52 CNY, compared to 5,539,640,850.93 CNY in the previous year, reflecting an increase of approximately 28.0%[28]. - The net cash flow from investment activities was -5,306,700,443.88 CNY, an improvement from -6,630,568,136.23 CNY year-over-year, showing a reduction in losses of approximately 19.9%[28]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 19,035,720.96 million, reflecting a 5.67% increase from the end of the previous year[3]. - Total liabilities increased by 12.09% to 1,054.16 billion RMB compared to 940.42 billion RMB at the end of 2021[17]. - The equity attributable to shareholders decreased to CNY 8,420,973.43 million, down 1.29% from the previous year[3]. - The balance of contract assets grew by 52.25% to 33.71 billion RMB, attributed to the progress of shipbuilding contracts exceeding the amount of settlement payments[16]. - Long-term borrowings surged by 163.47% to 204.08 billion RMB, reflecting increased financing needs due to a significant rise in new ship orders[16]. - Total assets as of September 30, 2022, were 1,903.57 billion RMB, a 5.67% increase from 1,801.39 billion RMB at the end of 2021[17]. Costs and Expenses - Operating costs rose to 245.36 billion RMB, reflecting a year-on-year increase of 6.44%[14]. - The gross profit margin decreased to 5.49%, down 1.74 percentage points compared to the previous year[14]. - Research and development expenses increased by 64.85% to 94,853.36 million RMB, driven by enhanced investment in product design and construction processes[15]. - Total operating costs for Q3 2022 were approximately ¥27.68 billion, an increase of 9.91% from ¥25.19 billion in Q3 2021[23]. - Research and development expenses rose to ¥948.53 million, up 65% from ¥575.40 million year-over-year[23]. Challenges and External Factors - The company faced significant challenges due to geopolitical conflicts, domestic COVID-19 outbreaks, and rising costs, impacting production and profitability[4]. - The company is experiencing increased construction costs due to high prices of shipbuilding materials and labor shortages[4][9]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 609,722, with the largest shareholder holding 34.53% of the shares[12].