ZPEC(SH:603619)2020-10-30 16:00Financial Performance - Operating revenue for the first nine months was CNY 1,216,704,326.74, down 24.65% year-on-year[19] - Net profit attributable to shareholders of the listed company was a loss of CNY 278,720,398.34, a decline of 820.73% compared to the previous year[19] - Basic and diluted earnings per share were both CNY -0.70, down 800% from CNY 0.10 in the previous year[21] - The weighted average return on net assets was -12.54%, a decrease of 14.16 percentage points compared to the previous year[21] - The company reported a net loss of RMB 279,525,886.10 for the first nine months of 2020, a decrease of 833.09% compared to the same period in 2019[33] - Total operating revenue for Q3 2020 was ¥330,279,101.77, a decrease of 50.3% compared to ¥665,420,730.14 in Q3 2019[58] - The company reported a significant reduction in employee compensation liabilities, down to ¥68,104,920.14 from ¥108,283,497.75[55] - The company’s total operating costs for Q3 2020 were 386,335,404.88 CNY, compared to 541,168,431.19 CNY in Q3 2019, reflecting a decrease of approximately 28.7%[69] - The total operating profit was -119,204,550.44, showing a significant loss compared to the previous period's profit of 91,281,405.55[76] - The net profit for the period was -122,648,513.78, a decline from the previous net profit of 62,999,819.67[76] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,289,146,807.10, a decrease of 2.51% compared to the end of the previous year[19] - Current assets totaled RMB 2,154,057,001.28, down from RMB 2,460,481,278.92, indicating a decrease of about 12.4% year-over-year[43] - Total liabilities increased to RMB 3,199,899,903.64 from RMB 3,060,368,978.45, marking an increase of approximately 4.5%[49] - Short-term borrowings rose to RMB 1,204,537,744.17, up from RMB 933,159,518.39, reflecting an increase of about 29.0%[47] - The company's equity attributable to shareholders decreased to RMB 2,089,990,281.31 from RMB 2,364,820,232.01, a decline of approximately 11.6%[49] - The company’s total non-current assets rose to RMB 3,135,089,805.82 from RMB 2,964,770,041.45, an increase of about 5.7%[47] - Total liabilities amounted to approximately ¥2,491,976,692.10 from ¥2,119,764,068.60, reflecting a rise of 17.6%[55] - The company has a total asset value of approximately ¥4.55 billion, indicating a solid asset base for future growth[99] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 14,530,218.47, a decrease of 68.41% year-on-year[19] - The company reported a decrease in cash received from operating activities related to other business by 32.5% compared to the previous period[82] - Cash inflow from operating activities reached CNY 2,135,363,737.22, compared to CNY 1,752,570,013.54 in 2019, indicating an increase of about 22%[84] - Cash outflow from operating activities was CNY 1,832,016,690.22, up from CNY 1,657,207,207.05 in the previous year, reflecting a rise of approximately 10.5%[84] - The net cash flow from investing activities was -CNY 27,857,228.08, an improvement from -CNY 161,994,009.83 in 2019, showing a reduction in losses by about 83%[86] - The ending cash and cash equivalents balance was CNY 30,873,059.80, down from CNY 53,944,049.10 in the previous year, a decline of approximately 43%[86] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,596[27] - The largest shareholder, Shanghai Zhongman Investment Holding Co., Ltd., held 36.59% of the shares, with 116,940,000 shares pledged[27] Government Support and Investments - The company received government subsidies amounting to CNY 3,976,041.98 during the reporting period[24] - The company achieved a significant oil and gas exploration breakthrough in the Wensu area, with newly reported proven oil reserves of 30.11 million tons and natural gas reserves of 449 million cubic meters[36] - The company completed 377 square kilometers of 3D seismic exploration in the Wensu block, representing about one-third of the planned area[36] Future Outlook - The company anticipates a potential net loss for the year due to the impact of the overseas pandemic and falling oil prices on its drilling operations[38] - The company plans to focus on market expansion and new product development in the upcoming quarters[62]