*ST围海(002586) - 2020 Q3 - 季度财报

Financial Performance - Operating revenue for the reporting period was CNY 554,539,845.64, down 20.51% year-on-year, and year-to-date revenue decreased by 46.24% to CNY 1,165,524,639.97[11] - Net profit attributable to shareholders was a loss of CNY 87,710,551.81, representing a decline of 282.62% compared to the same period last year[11] - The company reported a basic earnings per share of -CNY 0.0766, down 282.38% year-on-year[11] - The company's operating revenue for the third quarter was CNY 116,552.46 million, a decrease of 46.24% compared to CNY 216,782.70 million in the same period last year[20] - The company reported a significant drop in research and development expenses, which fell by 57.30% to CNY 1,270.26 million from CNY 2,975.17 million[20] - The company’s investment income turned negative at CNY -692.70 million, a decline of 115.72% compared to CNY 4,407.68 million in the previous year[20] - The company reported a net loss of CNY 995,591,376.74 as of September 30, 2020, compared to a loss of CNY 877,237,483.17 at the end of 2019[64] - Net profit for the current period is a loss of CNY 88,527,440.72, compared to a profit of CNY 53,774,385.39 in the previous period[71] - The company reported a total comprehensive income for the period was a loss of CNY 121,055,558.76, compared to a gain of CNY 107,231,799.46 in the previous year[80] Asset and Liability Changes - Total assets decreased by 14.96% to CNY 8,026,348,088.98 compared to the end of the previous year[11] - The company’s total liabilities decreased by 40.76% to CNY 100,713.74 million from CNY 169,998.46 million, mainly due to payments made for previous year’s unpaid project costs[20] - The total amount of raised funds is RMB 58,005.09 million, with RMB 2,517.31 million invested in the current year[35] - The total amount of non-fund occupation reached 28,087.76 million yuan, with a remaining balance of 18,385 million yuan as of the report date[57] - The total liabilities amounted to CNY 5,490,581,490.42, with total equity at CNY 3,947,298,813.46, resulting in total assets of CNY 9,437,880,303.88[96] Cash Flow Analysis - The net cash flow from operating activities increased significantly by 829.91% to CNY 136,867,572.37[11] - The company's net cash flow from operating activities was -2,883.85 million, an improvement of 85.70% compared to -20,171.50 million in the previous period[21] - The net cash flow from investing activities was -4,928.24 million, a significant increase of 619.26% from -685.18 million year-on-year, primarily due to increased external investments[21] - The net cash flow from financing activities was -36,307.40 million, a decrease of 31.50% compared to -53,005.73 million in the previous year, mainly due to reduced loan repayments[21] - The cash flow from operating activities showed a net outflow of ¥28,838,529.25, an improvement from a net outflow of ¥201,714,976.35 in the same period last year[87] Regulatory and Compliance Issues - The company is under regulatory scrutiny for potential fund misappropriation involving CNY 5.02 billion[7] - The company plans to hire a qualified intermediary to assess the compliance of its accounting treatment regarding a CNY 6 billion deposit issue[7] - The company is actively seeking solutions to address issues related to goodwill impairment testing due to loss of control over Shanghai Qinnian[8] - The company has lost control over Shanghai Qinnian, which has affected the consolidation of financial data in the report[6] - The company is under investigation for potential fund misappropriation amounting to approximately 5.02 billion by major shareholders and related parties[28] Shareholder and Ownership Information - The top shareholder, Zhejiang Weihai Holdings Group Co., Ltd., holds 43.06% of the shares, with 190,597,204 shares pledged[15] - The company’s major shareholder has applied for bankruptcy reorganization, citing inability to repay debts and lack of assets to cover liabilities[27] Project and Investment Updates - The project "Fenghua Xiangshan Port Shelter Anchorage Construction Project" is expected to be completed and usable by January 2021[36] - The "Zhoushan Liuhong Small Guoju Phase II Reclamation Project" is delayed due to COVID-19 and is expected to be completed by the end of December 2020[36] - The total investment for the committed investment projects is RMB 60,000 million, with RMB 58,058.27 million already invested[35] - The company has not generated any benefits from the Tian Tai County Cangnan Industrial Cluster Area Phase I PPP Project as it is still under construction[40] Legal and Impairment Issues - The company has recognized a 100% impairment provision for receivables from related parties due to their inability to repay, amounting to 14,000 million CNY[48] - The company has transferred 10,000 million CNY to a bank guarantee deposit account due to non-repayment by related parties[52] - The company is pursuing legal avenues to recover the amounts transferred to the bank guarantee deposit account[52] - The company is involved in a legal process to resolve the guarantees provided to its parent company[51] Miscellaneous - The company has established a self-inspection team to address the suspected fund occupation issues, emphasizing the importance of internal control systems[57] - The financial statements are prepared in accordance with the relevant accounting standards, ensuring transparency and accuracy in reporting[60] - The company has not conducted any investor relations activities such as research or interviews during the reporting period[58]