招商轮船(601872) - 2021 Q3 - 季度财报

Revenue and Profit Performance - Revenue for the reporting period was RMB 4,977,874,291.16, an increase of 9.98% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was RMB 630,247,164.72, a decrease of 32.44% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 519,892,608.37, a decrease of 43.47% compared to the same period last year[4] - Total revenue for the first three quarters of 2021 was RMB 13,058,889,667.08, a decrease of 8.07% compared to RMB 14,205,224,063.45 in the same period of 2020[21] - Net profit for the first three quarters of 2021 was RMB 1,614,831,033.10, a significant decrease of 59.55% compared to RMB 3,992,830,951.14 in the same period of 2020[23] - Revenue for the reporting period was 4.98 billion RMB, a 9.98% increase compared to the same period last year[37] - Net profit attributable to shareholders was 630.25 million RMB, a 32.44% decrease year-over-year[37] - Total revenue for the first three quarters of 2021 was RMB 13,058,889,667.08, a decrease of 8.1% compared to RMB 14,205,224,063.45 in the same period of 2020[54] - Net profit for the first three quarters of 2021 was RMB 1,614,831,033.10, a decrease of 59.6% compared to RMB 3,992,830,951.14 in the same period of 2020[56] - Continued operating net profit for Q3 2021 was RMB 1,614,831,033.10, compared to RMB 3,992,830,951.14 in the same period last year[25] - Net profit attributable to shareholders of the parent company was RMB 1,580,338,167.26, down from RMB 3,980,197,964.89 year-over-year[25] - Continued operating net profit for the third quarter of 2021 was RMB 1,614,831,033.10, compared to RMB 3,992,830,951.14 in the same period last year[58] - Net profit attributable to shareholders of the parent company was RMB 1,580,338,167.26, compared to RMB 3,980,197,964.89 in the same period last year[58] Asset and Liability Changes - Total assets at the end of the reporting period were RMB 58,106,050,921.61, a decrease of 0.90% compared to the end of the previous year[5] - Equity attributable to shareholders of the listed company at the end of the reporting period was RMB 26,131,138,705.10, an increase of 2.22% compared to the end of the previous year[5] - Total assets as of the end of Q3 2021 were RMB 58,106,050,921.61, a slight decrease from RMB 58,634,669,141.44 at the end of the previous period[19] - Total liabilities as of the end of Q3 2021 were RMB 31,508,132,308.39, a decrease of 3.44% compared to RMB 32,630,532,686.38 at the end of the previous period[20] - Total equity attributable to the parent company as of the end of Q3 2021 was RMB 26,131,138,705.10, an increase of 2.22% compared to RMB 25,562,623,364.76 at the end of the previous period[20] - Total assets increased by 460.05 million RMB to 59.09 billion RMB compared to the beginning of the year[32] - Total liabilities increased by 474.15 million RMB to 33.10 billion RMB[32] - Total assets as of the end of Q3 2021 were RMB 58,106,050,921.61, a slight decrease from RMB 58,634,669,141.44 at the end of the previous period[52] - Total liabilities as of the end of Q3 2021 were RMB 31,508,132,308.39, a decrease of 3.4% compared to RMB 32,630,532,686.38 at the end of the previous period[53] - Total equity attributable to owners of the parent company as of the end of Q3 2021 was RMB 26,131,138,705.10, an increase of 2.2% compared to RMB 25,562,623,364.76 at the end of the previous period[53] - Total assets increased by RMB 460.05 million to RMB 59.09 billion, primarily due to adjustments in non-current assets[63][65] - Total liabilities increased by RMB 474.15 million, driven by a rise in non-current liabilities, including a new lease liability of RMB 730.48 million[64][65] - Owner's equity decreased by RMB 14.10 million, primarily due to a reduction in retained earnings of RMB 12.47 million[65] - Minority interests decreased by RMB 1.64 million, reflecting adjustments in subsidiary equity[65] Earnings Per Share and Return on Equity - Basic earnings per share for the reporting period were RMB 0.06, a decrease of 52.91% compared to the same period last year[5] - Diluted earnings per share for the reporting period were RMB 0.06, a decrease of 52.91% compared to the same period last year[5] - Weighted average return on equity for the reporting period was 2.01%, a decrease of 1.32 percentage points compared to the same period last year[5] - Basic earnings per share for Q3 2021 were RMB 0.20, down from RMB 0.59 in the same period last year[26] - Basic earnings per share decreased by 66.52% to RMB 0.20[38] - Diluted earnings per share decreased by 66.52% to RMB 0.20[38] - Weighted average return on equity decreased by 8.22 percentage points to 5.47%[38] - Basic earnings per share (EPS) for the third quarter of 2021 was RMB 0.20, compared to RMB 0.59 in the same period last year[59] Cash Flow and Financial Expenses - Net cash flow from operating activities for the period from the beginning of the year to the end of the reporting period was RMB 2,885,496,228.90, a decrease of 50.12% compared to the same period last year[5] - Financial expenses for the first three quarters of 2021 were RMB 293,479,403.25, a decrease of 30.78% compared to RMB 423,975,654.44 in the same period of 2020[23] - Operating cash flow decreased by 50.12% to RMB 2,885,496,228.90[38] - Cash received from sales of goods and services in the first nine months of 2021 was RMB 13,250,271,909.87, compared to RMB 14,180,682,303.06 in the same period last year[27] - Net cash flow from operating activities for the first nine months of 2021 was RMB 2,885,496,228.90, down from RMB 5,784,788,007.05 year-over-year[29] - Net cash flow from investing activities for the first nine months of 2021 was RMB 157,080,955.32, compared to a negative RMB 4,122,510,647.88 in the same period last year[29] - Net cash flow from financing activities for the first nine months of 2021 was negative RMB 2,837,938,136.91, compared to positive RMB 1,984,915,917.28 year-over-year[29] - Cash and cash equivalents at the end of Q3 2021 were RMB 9,415,885,267.63, down from RMB 9,740,903,142.99 at the end of the same period last year[29] - Cash received from sales of goods and services in the first nine months of 2021 was RMB 13,250,271,909.87, compared to RMB 14,180,682,303.06 in the same period last year[60] - Net cash flow from operating activities in the first nine months of 2021 was RMB 2,885,496,228.90, compared to RMB 5,784,788,007.05 in the same period last year[62] - Net cash flow from investing activities in the first nine months of 2021 was RMB 157,080,955.32, compared to a negative RMB 4,122,510,647.88 in the same period last year[62] - Net cash flow from financing activities in the first nine months of 2021 was a negative RMB 2,837,938,136.91, compared to a positive RMB 1,984,915,917.28 in the same period last year[62] - The ending balance of cash and cash equivalents as of the end of the third quarter of 2021 was RMB 9,415,885,267.63, compared to RMB 9,740,903,142.99 in the same period last year[62] Fleet Performance - The decrease in net profit was mainly due to the continued deep downturn in the international tanker shipping market, with the VLCC fleet shifting from a significant profit in the same period last year to a small loss this year[9] - VLCC oil tanker fleet revenue for the first three quarters was 2.793 billion yuan, a decrease of 4.696 billion yuan year-on-year, with a loss of 318 million yuan, a significant decrease of 3.844 billion yuan in profit contribution[14] - Dry bulk fleet revenue for the first three quarters was 8.646 billion yuan, a year-on-year increase of 67.49%, with a profit of 1.551 billion yuan, a year-on-year surge of 536.79%[14] - Dry bulk fleet achieved a record high in September with a single-month net profit exceeding 300 million yuan for the first time[14] - LNG fleet operations remained stable in Q3, with new project development progressing in an orderly manner[14] - Roll-on/roll-off fleet experienced a slight loss in Q3 due to chip shortages and high-temperature holidays, but the overall market outlook remains positive[14] - Oil tanker fleet revenue for the first three quarters was 2.793 billion yuan, a decrease of 4.696 billion yuan year-on-year, with a loss of 318 million yuan, a significant decrease of 3.844 billion yuan in profit contribution[47] - Dry bulk fleet revenue for the first three quarters was 8.646 billion yuan, a significant increase of 67.49% year-on-year, with a profit of 1.551 billion yuan, a sharp increase of 536.79%[47] - Dry bulk fleet achieved a record high in September with a single-month net profit exceeding 300 million yuan for the first time[47] Fixed Assets and Investments - Fixed assets as of September 30, 2021, were 36.475 billion yuan, a decrease from 38.507 billion yuan at the end of 2020[17] - Long-term equity investments as of September 30, 2021, were 2.841 billion yuan, up from 2.569 billion yuan at the end of 2020[17] - Construction in progress as of September 30, 2021, was 1.015 billion yuan, compared to 948.62 million yuan at the end of 2020[17] - Fixed assets decreased by 711.65 million RMB to 37.80 billion RMB[30] - Use right assets were newly added at 1.17 billion RMB[30] - Fixed assets as of September 30, 2021, were 36.475 billion yuan, a decrease from 38.507 billion yuan at the end of 2020[50] - Fixed assets decreased by RMB 711.65 million, reflecting depreciation and revaluation adjustments[63] - Use right assets were newly recognized at RMB 1.17 billion due to the adoption of the new leasing standard[63] Non-Recurring Items and Government Subsidies - Non-recurring gains and losses amounted to RMB 110,354,556.35[41] - Government subsidies amounted to RMB 18,397,635.59[39] - Disposal gains of non-current assets amounted to RMB 101,827,451.36[39] Current Assets and Liabilities - Total current assets as of September 30, 2021, were 15.464 billion yuan, compared to 15.524 billion yuan at the end of 2020[17] - Short-term borrowings as of the end of Q3 2021 were RMB 3,654,901,583.32, an increase of 5.29% compared to RMB 3,471,402,366.26 at the end of the previous period[19] - Long-term borrowings as of the end of Q3 2021 were RMB 16,934,026,792.99, a decrease of 24.59% compared to RMB 22,458,821,721.04 at the end of the previous period[20] - The company's monetary funds as of September 30, 2021, were 9.516 billion yuan, compared to 9.317 billion yuan at the end of 2020[50] - Accounts receivable as of September 30, 2021, were 1.110 billion yuan, a decrease from 1.211 billion yuan at the end of 2020[50] - Prepaid expenses as of September 30, 2021, were 663 million yuan, an increase from 511 million yuan at the end of 2020[50] - Other receivables as of September 30, 2021, were 1.978 billion yuan, a decrease from 2.401 billion yuan at the end of 2020[50] - Inventory as of September 30, 2021, was 1.086 billion yuan, a slight decrease from 1.094 billion yuan at the end of 2020[50] - Contract assets as of September 30, 2021, were 911.71 million yuan, an increase from 855.28 million yuan at the end of 2020[50] - Short-term borrowings as of the end of Q3 2021 were RMB 3,654,901,583.32, an increase of 5.3% compared to RMB 3,471,402,366.26 at the end of the previous period[52] - Long-term borrowings as of the end of Q3 2021 were RMB 16,934,026,792.99, a decrease of 24.6% compared to RMB 22,458,821,721.04 at the end of the previous period[53] - Current liabilities increased by RMB 225.64 million, mainly due to a rise in non-current liabilities due within one year[64] - Long-term payables decreased by RMB 472.70 million, offset by the recognition of lease liabilities[64] R&D and Investment Income - R&D expenses for the first three quarters of 2021 were RMB 177,257.07, a significant decrease of 75.98% compared to RMB 738,052.73 in the same period of 2020[23] - R&D expenses for the first three quarters of 2021 were RMB 177,257.07, a significant decrease of 76% compared to RMB 738,052.73 in the same period of 2020[56] - Investment income for the first three quarters of 2021 was RMB 487,301,047.91, a decrease of 9.6% compared to RMB 539,071,784.24 in the same period of 2020[56] Comprehensive Income and Other Financial Metrics - Total comprehensive income for Q3 2021 was RMB 1,418,524,310.54, compared to RMB 3,447,703,992.83 in the same period last year[25] - Total comprehensive income for the third quarter of 2021 was RMB 1,418,524,310.54, compared to RMB 3,447,703,992.83 in the same period last year[58] - Net profit attributable to shareholders decreased by 60.29%[42] - Prepaid expenses decreased by 5.09 million RMB to 505.91 million RMB[30] - Long-term receivables increased by 2.46 million RMB[30] - Long-term payables decreased by 472.70 million RMB[31] - Unallocated profit decreased by 12.47 million RMB to 4.90 billion RMB[32]