Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 10.5 billion for the first half of 2022, representing a year-on-year growth of 15%[7]. - Operating revenue for the reporting period was RMB 33,148,652 thousand, an increase of 5.0% compared to RMB 31,570,061 thousand in the same period last year[11]. - Net profit attributable to shareholders was RMB 200,268 thousand, a decrease of 45.7% from RMB 368,558 thousand year-on-year[11]. - The company's consolidated operating revenue for the first half of 2022 was RMB 33,148,652 thousand, a 5.0% increase from RMB 31,570,061 thousand in the same period last year[18]. - The total new contract amount signed reached RMB 52.9 billion, a year-on-year increase of 20.8%, with overseas market contracts growing by 33.3% to RMB 11.82 billion[19]. - The drilling services segment generated RMB 16,635,798 thousand in revenue, a 5.9% increase, with drilling footage up 3.2% to 4.87 million meters[21]. - The engineering construction services segment reported revenue of RMB 8,326,149 thousand, a 5.8% increase, with new contract amounts growing by 60.2% to RMB 231.6 billion[24]. - International business revenue increased by 29.7% to RMB 5,650,053 thousand, accounting for 17.3% of total operating revenue[25]. - The company reported a net profit of RMB 201.124 million, indicating a focus on improving profitability[36]. - The company reported a total revenue of RMB 33,148.652 million and an operating profit of RMB 364.174 million for the first half of 2022[37]. Cash Flow and Liquidity - The net cash flow from operating activities was -RMB 537,926 thousand, a decline of 249.9% compared to RMB 358,861 thousand in the previous year[11]. - The company's cash and cash equivalents decreased by 22.6% to RMB 1,940,644 thousand from RMB 2,508,224 thousand at the end of the previous period[32]. - The net cash outflow from operating activities was RMB 537,926 thousand, an increase of RMB 896,787 thousand compared to the same period in 2021[59]. - The net cash outflow from investing activities in the first half of 2022 was RMB 492,591 thousand, an increase of RMB 101,959 thousand year-on-year, primarily due to increased equipment purchase expenditures[59]. - The net cash inflow from financing activities in the first half of 2022 was RMB 305,843 thousand, an increase of RMB 296,576 thousand compared to the previous year, mainly due to the growth in loan scale[59]. Strategic Initiatives - The company provided a positive outlook for the second half of 2022, projecting a revenue growth of 10% to 15%[7]. - New product development includes the launch of a carbon capture technology, which is expected to contribute an additional RMB 1 billion in revenue by the end of 2023[7]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[7]. - A strategic acquisition of a local competitor was completed, which is anticipated to enhance operational efficiency and increase market share by 5%[7]. - The company has initiated a new strategy focusing on digital transformation, aiming to reduce operational costs by 10% over the next two years[7]. - The company plans to sign new contracts worth RMB 211 billion in the second half of 2022, with RMB 143 billion from Sinopec Group and RMB 36 billion from domestic external markets[40]. Research and Development - R&D investment reached RMB 13.9 billion, supporting the development of key technologies for deep and shale oil and gas drilling[27]. - Research and development expenses surged by 91.1% to RMB 666,919 thousand, driven by accelerated efforts in key technology advancements[30]. - The company is focusing on project management system construction to enhance project profitability and resource allocation efficiency[28]. Environmental and Social Responsibility - The company generated 96.9 thousand tons of water-based drilling waste and rock cuttings, 5.71 million cubic meters of hazardous waste, and 406 thousand cubic meters of drilling wastewater as of June 30, 2022[71]. - The company replaced 150 thousand tons of diesel through the application of electric drilling rigs, achieving a drilling footage of 2.059 million meters, which accounted for 51% of the total domestic drilling footage of 4.0372 million meters in the first half of 2022[72]. - The company reduced comprehensive energy consumption per ten thousand yuan of industrial output value by 12.78% to 0.195 tons of standard coal as of June 30, 2022[71]. - The company has established a comprehensive environmental emergency management system and regularly conducts emergency response training and drills[72]. - The company has implemented strict compliance with environmental protection laws and regulations, ensuring that emissions meet local standards[71]. Risks and Challenges - The company reported no significant risks that could impact its operations or financial performance in the near term[2]. - The company faces various risks, including market competition, health and safety, and foreign operation risks, which could impact its business performance[51][52][53][54]. - The company anticipates that the oil service industry will continue to recover, despite ongoing geopolitical risks and uncertainties in oil supply and demand[39]. Shareholder Information - The company has a total of 133,672 shareholders as of June 30, 2022, with 133,336 being A-share shareholders[93]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 56.51% of the shares, totaling 10,727,896,364 shares[94]. - China Petroleum Group holds a total of 13,323,683,351 shares, accounting for 70.18% of the company's total shares, with 10,727,896,364 A-shares and 2,595,786,987 H-shares[95]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[103]. Accounting and Financial Policies - The company’s financial statements are prepared based on the going concern assumption, supported by long-term relationships with financial institutions[124]. - The company’s accounting policies comply with the accounting standards issued by the Ministry of Finance[126]. - The company recognizes revenue when control of goods or services is transferred to the customer, indicating the ability to dominate the use and obtain almost all economic benefits[191]. - The company assesses the recoverability of deferred tax assets based on the likelihood of future taxable income[199].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 15,347,614, representing a 5.1% increase compared to the same period last year[4] - Net profit attributable to shareholders was RMB 68,290, a decrease of 58.8% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 49,132, down 62.3% year-on-year[4] - Basic and diluted earnings per share were both RMB 0.004, reflecting a 60.0% decrease compared to the previous year[4] - The company's consolidated revenue for Q1 2022 was RMB 15.35 billion, an increase of 5.1% compared to RMB 14.60 billion in Q1 2021[15] - The net profit attributable to shareholders was RMB 0.07 billion, a decline of 58.8% year-on-year[11] Cash Flow - The net cash flow from operating activities was negative at RMB -902,539, indicating increased cash outflows[4] - The net cash flow from operating activities was -902,539 in Q1 2022, compared to -385,477 in Q1 2021, indicating a decline in cash flow performance[17] - Cash outflow for investment activities was 229,123 in Q1 2022, significantly higher than 55,449 in Q1 2021, leading to a net cash flow from investment activities of -224,681[19] - Cash inflow from financing activities was 5,049,148 in Q1 2022, down from 12,756,356 in Q1 2021, reflecting a decrease of approximately 60.5%[19] - The net cash flow from financing activities was 357,572 in Q1 2022, compared to 493,225 in Q1 2021, showing a decline of about 27.5%[19] - The total cash inflow from operating activities was 15,035,531 in Q1 2022, compared to 13,594,086 in Q1 2021, marking an increase of approximately 10.6%[17] - Total cash outflow from operating activities was 15,938,070 in Q1 2022, up from 13,979,563 in Q1 2021, indicating an increase of about 14.0%[17] - The ending balance of cash and cash equivalents was 1,720,871 in Q1 2022, slightly up from 1,607,539 in Q1 2021[19] Assets and Liabilities - Total assets at the end of the reporting period were RMB 64,609,215, a 0.9% increase from the end of the previous year[5] - The company's total assets as of March 31, 2022, were RMB 64.61 billion, compared to RMB 64.05 billion at the end of 2021[14] - The total liabilities amounted to RMB 57.50 billion, slightly up from RMB 57.19 billion at the end of 2021[14] - Shareholders' equity attributable to shareholders was RMB 7,110,981, up 3.6% from the previous year[5] - The total equity attributable to shareholders increased to RMB 7.11 billion from RMB 6.86 billion year-on-year[14] Research and Development - The company experienced a significant increase in R&D expenses due to accelerated project progress, impacting net profit[7] - Research and development expenses for Q1 2022 were RMB 0.31 billion, significantly higher than RMB 0.09 billion in Q1 2021[15] Contracts and Market Development - The total new contracts signed amounted to RMB 29.75 billion, representing a year-on-year growth of 33.5%[11] - The overseas market new contracts signed reached RMB 9.8 billion, showing a significant year-on-year increase of 237.7%[11] Other Information - Non-recurring gains totaled RMB 19,158, with government subsidies contributing RMB 18,901[6] - The company is focusing on enhancing engineering technology service capabilities and strengthening cooperation with oil companies for market development[10] - The cash flow impact from exchange rate changes was 15,213 in Q1 2022, down from 23,369 in Q1 2021[19] - The company did not apply the new accounting standards for the first time in 2022, as indicated in the report[19]

Financial Performance - The net profit attributable to shareholders for 2021 was RMB 179,791 thousand according to Chinese accounting standards, and RMB 140,450 thousand according to International Financial Reporting Standards[2]. - The company's retained earnings at the end of 2021 were negative RMB 1,529,605 thousand, leading to a recommendation of no cash dividend distribution for the year[2]. - The company's operating revenue for 2021 was RMB 69,533,053 thousand, representing a 2.1% increase from RMB 68,073,394 thousand in 2020[12]. - The net profit attributable to shareholders for 2021 was RMB 179,791 thousand, a significant increase of 127.6% compared to RMB 78,978 thousand in 2020[12]. - The basic earnings per share for 2021 was RMB 0.009, up 125.0% from RMB 0.004 in 2020[13]. - The net cash flow from operating activities for 2021 was RMB 6,206,909 thousand, an increase of 38.8% compared to RMB 4,471,820 thousand in 2020[12]. - The total assets at the end of 2021 were RMB 64,052,447 thousand, reflecting a 4.8% increase from RMB 61,091,195 thousand at the end of 2020[19]. - The total liabilities at the end of 2021 were RMB 57,190,930 thousand, compared to RMB 54,368,329 thousand at the end of 2020[19]. - The company's net assets attributable to shareholders at the end of 2021 were RMB 6,861,517 thousand, a 2.1% increase from RMB 6,722,866 thousand at the end of 2020[14]. - The weighted average return on equity for 2021 was 2.64%, an increase of 1.48 percentage points from 1.16% in 2020[13]. Audit and Compliance - The annual report has been audited by Lixin CPA and Hong Kong Lixin Dehao CPA, both issuing standard unqualified audit opinions[1]. - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report[1]. - The company operates under the supervision of the China Securities Regulatory Commission[4]. - There are no significant risks that need to be highlighted in the report[2]. - The company has proposed no capital reserve fund conversion to share capital due to negative retained earnings[2]. - The board of directors has approved the annual report, which will be submitted for shareholder meeting review[2]. Strategic Initiatives - The company signed new contracts worth RMB 70.9 billion in 2021, an increase of RMB 1.1 billion compared to the previous year[22]. - The company plans to sign new contracts worth RMB 72 billion in 2022, focusing on key markets such as Sinopec and CNOOC[27]. - The company aims to enhance its technological capabilities by overcoming 17 key core technologies in 2022[27]. - The company is committed to expanding its presence in the new energy market, including CCUS and geothermal projects[27]. - The company is focused on internal reforms to improve project management and operational efficiency[28]. Research and Development - The company applied for 897 patents and was granted 542, setting a new record for the year[23]. - Research and development expenditure increased by 21.9% to RMB 1,669,706 thousand, representing 2.4% of total revenue, focusing on key technologies such as the I-type rotary steering system and high-temperature imaging logging instruments[55][56]. - The total number of R&D personnel is 3,246, representing 4.7% of the company's total workforce, with a significant portion holding advanced degrees[57]. Environmental and Social Responsibility - The company emphasizes energy conservation and green low-carbon development, adhering to relevant environmental laws and international conventions[199]. - The company has established a comprehensive environmental impact assessment system to enhance environmental control[195]. - In 2021, the company was not listed among the severely polluting enterprises by Chinese environmental authorities and did not face major environmental or social safety issues[195]. - The company conducted 7 board meetings during the reporting period, focusing on financial reports and audit plans[141]. Management and Governance - The company has a diverse board of directors with backgrounds in engineering, finance, and management, enhancing its strategic capabilities[112][113][114][115]. - The company has maintained a stable executive team with no significant changes in roles or responsibilities reported[110]. - The board includes non-executive directors with significant industry experience, contributing to governance and oversight[113][114][115]. - The company has established a nomination committee to review the board's structure and diversity, with a focus on skills and experience necessary for effective governance[170]. Financial Management - The company has a cash dividend policy that mandates a minimum of 40% of the net profit attributable to shareholders be distributed as cash dividends, but no dividends will be distributed for 2021 due to negative retained earnings[144]. - The company is advised to actively plan for the challenges and opportunities presented by carbon neutrality and energy transition, which could impact the oil service sector[142]. - The company has implemented a differentiated compensation system that links employee remuneration to performance assessments, aiming to motivate staff effectively[143]. Risk Management - The company has established and continuously improved risk management and internal control systems to mitigate operational, financial, and compliance risks[179]. - The audit committee reviewed the company's financial reports for the fiscal year 2020 and the first three quarters of 2021, holding five meetings during the reporting period[181]. - The company has adopted the COSO framework for internal control and risk management, conducting annual risk assessments to identify significant risks[180].

Financial Performance - The company's operating revenue for Q3 2021 was RMB 15,143,830 thousand, representing a year-on-year increase of 1.0%[4] - The net profit attributable to shareholders of the listed company was a loss of RMB 48,217 thousand, with a year-to-date net profit of RMB 320,341 thousand, reflecting a 38.3% increase compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of RMB 139,983 thousand, with a year-to-date figure of RMB 170,635 thousand, showing a 36.7% increase year-on-year[4] - The basic and diluted earnings per share for Q3 2021 were both -0.003 yuan, while the year-to-date earnings per share were 0.017 yuan, an increase of 41.7%[5] - Total operating revenue for the first three quarters of 2021 reached RMB 46,713,891 thousand, a slight increase from RMB 46,427,919 thousand in the same period of 2020, representing a growth of 0.62%[18] - Net profit for the first three quarters of 2021 was RMB 320,341 thousand, up from RMB 231,703 thousand in the same period of 2020, reflecting a growth of 38.2%[19] - The company reported basic and diluted earnings per share of 0.017 RMB for Q3 2021, up from 0.012 RMB in Q3 2020, representing a growth of 41.7%[20] Assets and Liabilities - The total assets at the end of the reporting period were RMB 63,707,838 thousand, an increase of 4.3% compared to the end of the previous year[5] - Total assets as of September 30, 2021, amounted to RMB 63,707,838 thousand, an increase from RMB 61,091,195 thousand at the end of 2020, showing a growth of 4.3%[17] - Total liabilities as of September 30, 2021, were RMB 56,257,260 thousand, compared to RMB 54,368,329 thousand at the end of 2020, representing an increase of 3.48%[17] - The company's total equity attributable to shareholders increased to RMB 7,450,578 thousand from RMB 6,722,866 thousand at the end of 2020, an increase of 10.83%[17] Cash Flow - The net cash flow from operating activities was RMB -186,766 thousand, a significant decrease of 129.7% year-on-year[4] - Net cash flow from operating activities for the first three quarters of 2021 was -186,766 thousand RMB, compared to 628,588 thousand RMB in the same period of 2020, indicating a decline[21] - Cash inflow from financing activities was 44,444,242 thousand RMB in the first three quarters of 2021, up from 39,565,093 thousand RMB in the same period of 2020, reflecting an increase of approximately 7.1%[22] - Net cash flow from financing activities for the first three quarters of 2021 was 676,230 thousand RMB, compared to 132,361 thousand RMB in the same period of 2020, showing significant improvement[22] - The company reported a net cash flow from investment activities of -653,292 thousand RMB for the first three quarters of 2021, slightly worse than -643,514 thousand RMB in the same period of 2020[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,279, with the largest shareholder being China Petroleum & Chemical Corporation, holding 56.51% of the shares[10] Costs and Expenses - The total operating costs for the first three quarters of 2021 were RMB 46,619,720 thousand, compared to RMB 46,199,581 thousand in 2020, indicating an increase of 0.91%[18] - The company has implemented strict cost control measures, resulting in a reduction of financing costs and a decrease in period expenses year-on-year[7] - Research and development expenses for the first three quarters of 2021 were RMB 578,756 thousand, down from RMB 803,877 thousand in the same period of 2020, a decrease of 28%[18] Inventory and Receivables - Cash and cash equivalents decreased to RMB 1,350,538 thousand from RMB 1,551,458 thousand at the end of 2020, a decline of 12.93%[15] - Accounts receivable decreased to RMB 8,089,111 thousand from RMB 9,358,385 thousand at the end of 2020, a reduction of 13.6%[15] - Inventory increased to RMB 1,555,453 thousand from RMB 1,033,678 thousand at the end of 2020, reflecting a growth of 50.5%[15] Compliance and Reporting - The company has not adopted the new leasing standards for the current year, indicating a potential area for future compliance and reporting adjustments[23]

( 股票代號 A 股：600871； H 股：1033) 2021 半年度報告 Sinopec Oilfield Service Corporation 中石化石油工程技術服務股份有限公司 Interim Report 2021 半年度報告 重要提示 一、本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實、準確、完整，不存在 虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 2021年半年度報告已經本公司第十屆董事會第五次會議審議通過。本公司共有7位董事出席了本次董事 會會議，董事魏然先生、樊中海先生因公請假，分別委託董事陳錫坤先生、周美雲先生出席會議並行使 權利。 三、本公司按照中國企業會計準則及按照國際財務報告準則編製的2021年半年度財務報告均未經審計；但本 公司按國際財務報告準則編製的2021年半年度財務報告已經香港立信德豪會計師事務所有限公司審閱。 四、本公司董事長陳錫坤先生、總經理袁建強先生、總會計師程中義先生及會計機構負責人裴德芳先生保證 本半年度報告中財務報告的真實、準確、完整。 五、根據《公司章程》，董事會決議不派發截至2021年12月31日止年度之半年 ...

Financial Performance - The company reported a total revenue of RMB 10.5 billion for the first half of 2021, representing a year-on-year increase of 15%[2]. - The net profit attributable to shareholders for the first half of 2021 was RMB 1.2 billion, up 20% compared to the same period last year[2]. - The company's operating revenue for the reporting period was RMB 31,570,061 thousand, a slight increase of 0.4% compared to the same period last year[11]. - The net profit attributable to shareholders was RMB 368,558 thousand, representing a significant increase of 23.6% year-on-year[11]. - The net cash flow from operating activities reached RMB 358,861 thousand, up 27.6% from the previous year[11]. - The total new contract amount signed reached RMB 437.9 billion, a year-on-year growth of 1.9%[19]. - The drilling services segment generated revenue of RMB 15,712,885 thousand, a decrease of 7.1% from RMB 16,917,552 thousand in the previous year[21]. - The engineering construction services segment achieved revenue of RMB 7,868,764 thousand, reflecting a 15.8% increase from RMB 6,792,317 thousand year-on-year[24]. - The international business revenue was RMB 4,356,273 thousand, down 29.7% from RMB 6,195,560 thousand in the same period last year, accounting for 14.0% of total revenue[25]. Strategic Initiatives - The company plans to invest RMB 500 million in new technology development and product innovation in the upcoming fiscal year[2]. - The company is exploring potential mergers and acquisitions to enhance its market position and service capabilities[2]. - The company has established a strategic partnership with a leading energy firm to expand its market presence in Southeast Asia[2]. - The company aims to expand its services from onshore to offshore and from domestic to international markets, focusing on both conventional and unconventional oil and gas services[15]. - The company is focusing on enhancing exploration and development capabilities while optimizing market layout and resource allocation[40]. - The company is committed to its internationalization strategy, focusing on contract renewals in key markets like Saudi Arabia and Kuwait, and aims to restart operations in Mexico[46]. Operational Efficiency - The company has successfully launched a new carbon capture technology, which is expected to reduce operational costs by 15%[2]. - The company has implemented a new employee incentive program aimed at increasing productivity by 30% over the next year[2]. - The average utilization rate of domestic drilling teams was 83.6%, an increase of 3.6 percentage points year-on-year[21]. - The company completed 16 wells with a total drilling footage of 8,171 meters as part of its key technology projects[26]. - The company is implementing internal reforms to optimize resource allocation and improve operational efficiency, including project management system enhancements[48]. Financial Position - The total assets at the end of the reporting period were RMB 63,979,713 thousand, reflecting a growth of 4.7% compared to the end of the previous year[14]. - The company's total liabilities included short-term borrowings of RMB 19,856,969 thousand, accounting for 31.0% of total assets[31]. - The company's equity attributable to shareholders was RMB 7.42 billion, an increase of RMB 694.26 million compared to the end of 2020[56]. - The company's total liabilities reached RMB 56.56 billion, reflecting an increase of RMB 2.19 billion from the previous year, with current liabilities accounting for RMB 54.83 billion[56]. - The company's cash and cash equivalents decreased by 3.2% to RMB 1,502,164 thousand from RMB 1,551,458 thousand at the end of the previous period[31]. Research and Development - The company applied for 369 domestic and international patents, with 315 patents granted during the first half of 2021[26]. - The company's research and development expenses decreased by 43.7% to RMB 349,034 thousand, down from RMB 619,803 thousand in the previous year[29]. - The company is focusing on technological research and development, particularly in areas such as shale gas and carbon capture, to enhance its service capabilities[47]. Environmental and Social Responsibility - The company reported a total of 92.1 million tons of general solid waste and 9.3 million tons of hazardous waste disposed of in compliance with regulations in the first half of 2021[77]. - The company achieved a 3.9% year-on-year reduction in comprehensive energy consumption per 10,000 yuan of industrial output, amounting to 0.223 tons of standard coal[77]. - The company has established an environmental emergency management system and regularly conducts training and drills for emergency response[78]. - The company has actively promoted the creation of green projects, with 585 teams passing the green grassroots creation evaluation in the first half of 2021[77]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[76]. Shareholder and Governance - The total number of shareholders as of June 30, 2021, is 116,013, with 115,676 holding A-shares and 337 holding H-shares[98]. - The company has no significant contracts to disclose other than those already mentioned in the report[93]. - The company confirmed that all related party transactions were conducted on normal commercial terms and in compliance with regulatory requirements[87]. - The company appointed Lixin Certified Public Accountants as its domestic and overseas auditors for the fiscal year 2021[81]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[109]. Risk Management - The company faces various risks, including market competition, health and safety, and foreign operational risks, which could impact its business performance[51][52][53]. - The company recognizes provisions for expected liabilities when there is a present obligation that is likely to result in an outflow of economic benefits and can be reliably measured[182]. Accounting and Financial Reporting - The company's financial report is prepared in accordance with Chinese accounting standards, with the balance sheet as of June 30, 2021, presented in thousands of RMB[110]. - The company recognizes revenue when control of goods or services is transferred to the customer, indicating the customer can dominate the use and obtain almost all economic benefits[187]. - The company employs a fair value measurement for share-based payments, recognizing costs based on the fair value of equity instruments granted[184]. - The company recognizes contract liabilities for obligations to transfer goods or services for which it has received or is entitled to receive consideration from customers[176].

Financial Performance - Operating revenue for the period was CNY 14,599,813, representing a year-on-year increase of 13.5%[4] - Net profit attributable to shareholders was CNY 165,646, a significant recovery from a loss of CNY 182,308 in the same period last year[4] - The diluted earnings per share for the period was CNY 0.01, recovering from a loss of CNY 0.01 in the same period last year[4] - Net profit for Q1 2021 was 165,646 thousand RMB, compared to a net loss of 182,308 thousand RMB in Q1 2020[19] - Earnings per share for Q1 2021 was 0.01 RMB, recovering from a loss of 0.01 RMB per share in Q1 2020[19] - The company reported an operating profit of 178,879 thousand RMB in Q1 2021, compared to an operating loss of 150,372 thousand RMB in Q1 2020[19] Cash Flow - The net cash flow from operating activities improved to -CNY 385,477, compared to -CNY 1,184,219 in the previous year[4] - The net cash flow from operating activities improved significantly, with a net outflow of RMB -385,477 thousand compared to RMB -1,184,219 thousand in the previous year, driven by increased sales receipts[10] - Cash inflow from sales and services reached RMB 10,455,420 thousand, up from RMB 9,332,441 thousand in the same quarter last year, representing a growth of 12.0%[22] - The company reported a total cash outflow from operating activities of RMB 13,979,563 thousand, slightly higher than RMB 13,453,844 thousand in the previous year, an increase of 3.9%[22] - The net cash flow from financing activities was RMB 493,225 thousand, down from RMB 1,654,034 thousand in the same quarter last year, reflecting a decline of 70.2%[23] - The ending balance of cash and cash equivalents was RMB 1,607,539 thousand, down from RMB 1,970,867 thousand year-over-year, a decrease of 18.4%[23] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 61,610,851, an increase of 0.9% compared to the end of the previous year[4] - The total liabilities as of March 31, 2021, were RMB 54,609,003 thousand, compared to RMB 54,368,329 thousand at the end of 2020[14] - Long-term payables increased by 98.0% to RMB 53,099 thousand from RMB 26,812 thousand, primarily due to the return of security funds[9] - Contract liabilities decreased by 30.0% to RMB 2,117,574 thousand from RMB 3,024,461 thousand, attributed to the progress of engineering construction and fulfillment of performance obligations[9] - The total equity of the company was 32,236,429 thousand RMB, reflecting a stable financial position[17] Shareholder Information - The number of shareholders at the end of the reporting period was 116,983, with the largest shareholder, Sinopec Group, holding 56.51% of the shares[6] Government Support and Other Income - The company received government subsidies amounting to CNY 15,086, which are closely related to its normal business operations[5] - Other income increased by 241.0% to RMB 13,478 thousand from RMB 3,952 thousand, mainly due to an increase in non-repayable payables and compensation income[10] Research and Development - Research and development expenses decreased by 48.8% to RMB 85,824 thousand from RMB 167,581 thousand, mainly due to the later arrangement of R&D projects compared to the same period last year[10] - Research and development expenses for Q1 2021 were 85,824 thousand RMB, down 48.7% from 167,581 thousand RMB in Q1 2020[17] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[4] - The company aims to enhance market expansion and product development in the upcoming quarters[19]