*ST Intercontinental (stock code: 600759) is an international independent energy company mainly engaged in petroleum exploration and development. Its business scope covers various fields such as investment in petrochemical projects, oil trade and import and export, and investment in basic energy industries. The company adheres to the two-wheel drive development policy of “project value+project mergers and acquisitions”, and strives to improve operational efficiency and efficiency by optimizing the business layout and asset structure. In a changing global political and economic environment, *ST Intercontinental faces fluctuations in international crude oil prices, actively responds to challenges and seizes opportunities in order to achieve sustainable development.
In terms of assets and liabilities, *ST Intercontinental's 2023 three-quarter report shows that the company's total assets were 13.189 billion yuan, a slight increase from 13.021 billion yuan at the end of the previous year, an increase of 1.30%. The total debt reached 9.071 billion yuan, which is also a slight increase compared to 9.012 billion yuan at the end of the previous year. Net assets, on the other hand, increased to 4.118 billion yuan at the end of the previous year, and the balance ratio declined slightly from 69.21% to 68.78%, indicating a slight improvement in the company's financial structure.
In terms of profit, the company's revenue for the third quarter of 2023 was 777 million yuan, a slight increase over the same period last year, but revenue from the beginning of the year to the end of the reporting period was 2,044 billion yuan, a year-on-year decrease of 2.88%. Operating profit and net profit were 157 million yuan and 73.2709 million yuan, respectively, lower than 483 million yuan and 85.759 million yuan in the same period last year. Gross margin and net margin also fell from 69.36% and 4.04% to 63.03% and 3.58%, respectively, indicating a decline in the company's profitability. The return on net assets (ROE) was 1.8% at the end of the reporting period, reflecting limited return on shareholders' equity.
In terms of cash flow, net cash flow from operating activities was 504 million yuan, down 20.80% from 637 million yuan in the same period last year. The total cash inflow from operating activities was $2,278 billion, slightly higher than the $2,238 billion in the same period last year, while the cash outflow subtotal was $1,773 billion, up from $1,702 billion in the same period last year.
In summary, *ST Intercontinental faced certain operating pressure in the third quarter of 2023. Although the company's total assets and net assets have increased, the decline in operating income, operating profit, and net profit, as well as the decrease in net cash flow, all indicate that the company is facing challenges in managing profits and cash flow. The increase in the company's net profit during the reporting period was mainly due to one-time accrued losses in the same period last year, project payback accounts receivable for the current period, and contributions from the new refined oil product business. However, the decline in net profit after deducting non-recurring profit and loss reflects the impact of lower profits and increased sales and management expenses in the crude oil business.
For investors, it is recommended to focus on the*ST Intercontinental business adjustments and market strategies, as well as its response to fluctuations in international oil prices. Although the company has grown in terms of asset size, the decline in profitability and cash flow requires close observation. Investment decisions should consider the balance between the company's long-term development potential and short-term financial performance.
This article only represents the judgments made by analysts themselves or analysts based on AI analysis. It cannot be used as an investment indicator, nor does it constitute any investment advice. The original purpose of this article was to help investors analyze and judge capital market data in the most intuitive and fastest way and from the most professional perspective.