Financial Performance - The company's operating revenue for the first half of 2023 was CNY 3,988,904,648.79, a decrease of 6.56% compared to CNY 4,268,923,946.66 in the same period last year[16]. - Net profit attributable to shareholders for the first half of 2023 was CNY 1,151,008,725.36, down 28.69% from CNY 1,614,081,581.96 year-on-year[16]. - The company's basic earnings per share for the first half of 2023 were CNY 0.1693, a decrease of 28.66% from CNY 0.2373 in the same period last year[17]. - The net cash flow from operating activities was RMB 3.18 billion, a decrease of 9.98% compared to the previous year[24]. - The company reported a total profit of CNY 1,460,058,756.80, down from CNY 2,052,606,991.68 in the first half of 2022[96]. - The company’s total comprehensive income for the first half of 2023 was a loss of CNY 13,089,481.80, compared to a loss of CNY 22,674,930.39 in the same period of 2022[100]. Production and Operations - The company achieved a crude oil production of 7.6416 million barrels in the first half of 2023, representing a year-on-year increase of 12.75%[20]. - Natural gas production amounted to 2.9583 million barrels of oil equivalent, reflecting a year-on-year increase of 13.98%[20]. - The company has 691 shale oil wells online by the end of the reporting period[20]. - The company has not indicated any plans for market expansion, new product development, or mergers and acquisitions in the current report[6]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 33,878,881,798.28, an increase of 8.18% from CNY 31,318,500,770.10 at the end of the previous year[16]. - The net assets attributable to shareholders increased by 12.96% to CNY 19,081,667,958.87 compared to CNY 16,892,916,037.31 at the end of the previous year[16]. - The total liabilities rose to CNY 14,797,213,839.41, compared to CNY 14,425,584,732.79, indicating an increase of around 2.6%[90]. - The company’s total current assets reached CNY 3,720,837,410.87, an increase from CNY 3,288,642,697.55 at the end of 2022, reflecting a growth of approximately 13.1%[88]. Legal and Regulatory Matters - The company is currently involved in a legal case regarding a compensation obligation of approximately CNY 3.582 billion, with ongoing proceedings in the Supreme Court[4]. - The company has received administrative regulatory measures from the China Securities Regulatory Commission due to violations of information disclosure regulations[73]. - The company has faced multiple lawsuits, including actions from shareholders regarding the validity of resolutions from shareholder meetings[71]. Governance and Shareholder Matters - The company held a shareholder meeting on February 27, 2023, to elect a new board of directors and supervisory board, with a term of three years[43]. - Liu Bin was elected as the chairman and general manager, while Bing Zhou was appointed as the CFO[44]. - The company has reported a shareholding change, with a total of 6,500,000 shares being reduced without prior disclosure in May 2020, affecting the overall shareholding structure[53]. - The company has committed to not engaging in any business that competes with New Chao Industry and Zhejiang Benbao after the completion of the transaction, ensuring no future conflicts of interest[55]. Financial Policies and Accounting Practices - The financial report for the first half of 2023 has not been audited, but management has assured its accuracy and completeness[2]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete view of its financial status as of June 30, 2023[122]. - The company has not made any changes to significant accounting policies or estimates during the year[189]. Risk Factors - The company has outlined potential risks in its management discussion and analysis section, urging investors to pay attention to these risks[6]. - The company faces risks related to industry policies, including potential changes in U.S. regulations affecting oil and gas development, which may impact short-term performance[36]. - Currency exchange rate fluctuations present a risk, as the company's operations are primarily in USD while financial reporting is in RMB, potentially affecting reported performance[36]. Environmental and Social Responsibility - The company has committed to environmental protection, adhering to local laws and regulations, and has not experienced any major environmental incidents during the reporting period[49]. - The company is actively pursuing a green low-carbon development strategy, focusing on energy conservation and emission reduction[49].

关于山东新潮能源股份有限公司 2022年度上期非标事项在本期消除 的专项说明 中兴华会计师事务所（特殊普通合伙） ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址北京市丰台区丽泽路 20 号院 1 号楼南楼 20 层 邮编：100073 电话：（010) 51423818 传真：（010) 51423816 中 兴 华 会 计 师 事 务 所 （ 特 殊 普 通 合 伙 ） Z H O N G X I N G H U A C E R T I F I E D P U B L I C A C C O U N T A N T S L L P 地址（ l o c a t i o n ） ： 北 京 市 丰 台 区 丽 泽 路 2 0 号 院 1 号楼南楼 2 0 层 20/F,Tower South Building,Building1,N.20 Lize Road,Fengtai District,Beijing PR China 电话（ t e l ） ： 010 - 5 1 4 2 3 8 1 8 传真（ f a x ） ： 0 1 0 - 5 1 4 2 3 8 ...

Financial Performance - The company's operating revenue for Q1 2023 was RMB 2,001,821,209.38, representing a year-on-year increase of 19.04%[4] - The net profit attributable to shareholders for Q1 2023 was RMB 634,901,627.58, reflecting a growth of 20.55% compared to the same period last year[4] - Basic earnings per share for Q1 2023 were RMB 0.0934, up by 20.67% from the previous year[4] - Total operating revenue for Q1 2023 reached ¥2,001,821,209.38, a 19.0% increase from ¥1,681,657,312.34 in Q1 2022[15] - Net profit for Q1 2023 was ¥634,901,627.58, representing a 20.5% increase compared to ¥526,684,158.96 in Q1 2022[16] - The company reported a total comprehensive income of ¥581,175,250.21 in Q1 2023, compared to a loss of ¥56,545,345.47 in Q1 2022[17] Cash Flow - The net cash flow from operating activities reached RMB 1,473,618,198.25, which is an increase of 16.82% year-on-year[4] - Cash flow from operating activities in Q1 2023 was ¥2,244,192,117.40, an increase from ¥1,803,638,013.98 in Q1 2022[18] - The net cash flow from operating activities for Q1 2023 was ¥1,473,618,198.25, an increase from ¥1,261,413,934.07 in Q1 2022, reflecting a growth of approximately 16.8%[19] - The total cash outflow from operating activities was ¥770,573,919.15, compared to ¥542,224,079.92 in the previous year, marking an increase of approximately 42.2%[19] - The cash inflow from the disposal of fixed assets and other long-term assets was ¥1,663,486.16, up from ¥352,121.47, reflecting a growth of about 372.5%[19] Assets and Liabilities - Total assets at the end of Q1 2023 amounted to RMB 31,527,049,801.91, showing a slight increase of 0.67% from the end of the previous year[5] - The total current assets reached ¥3,329,834,283.26, slightly up from ¥3,288,642,697.55, indicating an increase of about 1.25%[12] - The total liabilities decreased to ¥14,052,958,514.39 from ¥14,425,584,732.79, showing a reduction of about 2.59%[14] - The company's equity attributable to shareholders increased to ¥17,474,091,287.52 from ¥16,892,916,037.31, marking a rise of approximately 3.44%[14] Governance and Management - The company appointed Liu Bin as the new Chairman and General Manager, and Bing Zhou as the Chief Financial Officer during the first board meeting of the new board[11] - The company confirmed the legal status of its board and supervisory committee members, resolving uncertainties from previous shareholder disputes[10] - The company is focused on enhancing its governance structure to ensure effective decision-making and operational stability[10] Expenses - Total operating costs for Q1 2023 were ¥1,197,311,236.06, up 17.8% from ¥1,016,071,100.48 in Q1 2022[15] - The company’s financial expenses decreased to ¥95,354,883.84 in Q1 2023 from ¥137,911,072.57 in Q1 2022[15] - Tax expenses for Q1 2023 were ¥172,425,080.75, compared to ¥140,035,949.05 in Q1 2022, reflecting a 23.1% increase[16] - The company’s management expenses increased to ¥134,928,823.45 in Q1 2023 from ¥107,187,733.94 in Q1 2022[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 192,033[7] - The top ten shareholders held a significant portion of the company's shares, with the largest shareholder owning 6.39%[8]

Financial Performance - The company achieved a consolidated net profit of CNY 3,127,976,474.03 for the year 2022, with the net profit attributable to the parent company also being CNY 3,127,976,474.03[4]. - The company's operating revenue for 2022 was approximately ¥9.36 billion, representing a 94.07% increase compared to ¥4.82 billion in 2021[18]. - Net profit attributable to shareholders for 2022 reached approximately ¥3.13 billion, a significant increase of 756.63% from ¥365 million in 2021[18]. - The net cash flow from operating activities was approximately ¥7.87 billion, up 129.57% from ¥3.43 billion in 2021[18]. - The total assets at the end of 2022 were approximately ¥31.32 billion, reflecting a 19.55% increase from ¥26.20 billion at the end of 2021[18]. - The net assets attributable to shareholders increased to approximately ¥16.89 billion, a 38.39% rise from ¥12.21 billion in 2021[18]. - The net profit after deducting non-recurring gains and losses was 3.692 billion RMB, reflecting a year-on-year growth of 320.74%[24]. - The company reported a significant increase in operating costs due to higher oil and gas production, with total operating costs amounting to ¥3,225,476,545.04, up 33.17% year-on-year[39]. - The company reported a net profit of CNY 2,699,916,197.02, compared to a loss of CNY 418,660,082.11 in the previous year[175]. - The total comprehensive income for the year was -586,304,656.71, indicating a loss compared to the previous year's figures[196]. Dividends and Profit Distribution - The company plans not to distribute cash dividends or issue bonus shares for the 2022 fiscal year[4]. - As of December 31, 2022, the company's undistributed profits amounted to CNY -2,256,068,615.69[4]. - The company has implemented a cash dividend policy in accordance with regulatory requirements, which was approved by the board and shareholders[85]. Legal and Compliance Issues - The company is currently involved in legal proceedings related to a trust default case, with potential liabilities amounting to CNY 3,582,000,000[6]. - The company has received a civil judgment requiring it to bear compensation responsibilities within the range of CNY 1,585,666,666.67 for certain debts[7]. - The company has stated that it will continue to pursue legal channels to assert its rights regarding the ongoing litigation[7]. - The company faced significant litigation matters, including disputes related to debt issues and shareholder lawsuits[129]. - The company received a public reprimand from the Shanghai Stock Exchange for inaccurate performance forecast disclosures[133]. Corporate Governance - The company maintains a complete separation from major shareholders and their affiliates in terms of personnel, assets, finance, institutions, and business operations, ensuring independent and compliant operations[62]. - The company has established a comprehensive corporate governance structure in accordance with relevant laws and regulations, aligning with the requirements of the Corporate Governance Code for listed companies[62]. - The company has committed to continuously improving its internal control systems to enhance governance standards and promote healthy development[62]. - The company’s board of directors and supervisory board have been actively involved in overseeing the company's operations and financial reporting[62]. - The company has not faced any penalties from securities regulatory agencies in the past three years[74]. Market Expansion and Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies and products to sustain growth[1]. - Future guidance suggests continued revenue growth and profitability improvements, driven by strategic initiatives and market expansion efforts[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[71]. - In 2023, the company plans to seek acquisition opportunities to integrate new assets and enhance synergy effects, further solidifying its resource reserves[59]. Financial Health and Ratios - The company's asset-liability ratio decreased to 46.06%, down 7.34 percentage points from the end of 2021[24]. - The company's total liabilities amounted to CNY 14,425,584,732.79, compared to CNY 13,989,739,540.15 in 2021, reflecting an increase of approximately 3.1%[174]. - The total liabilities to equity ratio stands at approximately 85.5%, indicating a relatively high leverage position[174]. - The company's equity attributable to shareholders rose to CNY 16,892,916,037.31, up from CNY 12,206,913,076.61, indicating a growth of around 38.5%[175]. Production and Operational Metrics - The company reported a crude oil production of 14.7158 million barrels, an increase of 22.98% compared to 2021[24]. - Natural gas production was 5.4382 million barrels of oil equivalent, up 12.78% year-on-year[24]. - The average number of active drilling rigs in the U.S. increased to 723 in 2022, up 51.26% from 478 in 2021[26]. - The total number of drilling wells in the U.S. for 2022 was 15,944, representing a 22.88% increase from 12,975 in 2021[26]. Environmental and Social Responsibility - The company invested 17.41 million yuan in environmental protection funds during the reporting period[91]. - The company implemented carbon reduction measures, resulting in a decrease of 99,000 tons of CO2 equivalent emissions[93]. - The company has established a social responsibility report for 2022, which is available on the Shanghai Stock Exchange website[94]. - The company has not experienced any major environmental incidents or pollution accidents during the reporting period[92]. Employee and Management Information - The company had a total of 241 employees, with 5 in the parent company and 236 in major subsidiaries[82]. - The employee composition includes 99 production staff, 32 technical staff, 32 financial staff, and 78 administrative staff[82]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 580.16 million, with the highest individual remuneration being CNY 118.00 million for the chairman and general manager[68]. Shareholder Information - The total number of common stock shareholders increased from 192,033 to 210,634 during the reporting period[148]. - The largest shareholder, Ningbo Guojin Sunshine Equity Investment Center, holds 434,343,434 shares, representing 6.39% of the total shares[149]. - The company has established a 36-month lock-up period for shares acquired on August 22, 2017[101]. - The total number of shares before the recent change was 6,800,495,825, with 134,074,074 shares being released from restrictions, resulting in a new total of 6,800,495,825 shares[143].

证券代码：600777 证券简称：新潮能源 公告编号：2023-044 山东新潮能源股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 5 月 31 日（星期三）上午 10:00-11:00 会议召开方式：网络互动方式 会议召开地点：上海证券交易所上证路演中心（http://roadshow.sseinfo.com） 投资者可在 2023 年 5 月 22 日（星期一）下午 17:00 前将相关问题通过电子 邮件的形式发送至公司投资者联系邮箱：xcny@xinchaoenergy.com。公司将在说 明会上对投资者普遍关注的问题进行回答。 一、说明会类型 山东新潮能源股份有限公司（以下简称"公司"）于 2023 年 4 月 29 日在上 海证券交易所网站（www.sse.com.cn）及指定信息披露媒体披露了公司 2022 年 年度报告及其摘要等公告。 为维护广大投资者利益，使投资者更加全面、深入地了解公司 2022 年年度 报告和 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,476,837,095.82, representing a year-on-year increase of 99.15%[4] - The net profit attributable to shareholders for Q3 2022 was ¥1,029,680,587.49, reflecting a significant increase of 415.52% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥1,023,300,662.25, up 413.06% year-on-year[4] - Total operating revenue for the first three quarters of 2022 reached RMB 6,745,761,042.48, a significant increase from RMB 3,353,437,459.86 in the same period of 2021, representing a growth of approximately 101.6%[18] - Operating profit for the third quarter of 2022 was RMB 3,345,966,044.66, compared to RMB 625,885,278.20 in the third quarter of 2021, indicating a substantial increase of about 434.5%[19] - Net profit attributable to shareholders of the parent company for the third quarter of 2022 was RMB 2,643,762,169.45, up from RMB 502,485,769.11 in the same quarter of 2021, reflecting an increase of approximately 426.5%[20] - The company reported a total comprehensive income of RMB 4,894,534,410.25 for the third quarter of 2022, compared to a loss of RMB 64,040,759.52 in the same quarter of 2021[20] - Basic earnings per share for the third quarter of 2022 were RMB 0.3888, compared to RMB 0.0739 in the same quarter of 2021, representing an increase of approximately 426.5%[20] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥30,885,340,147.90, an increase of 17.90% compared to the end of the previous year[5] - Current assets totaled ¥2,672,583,123.54, compared to ¥2,448,418,993.68 in the previous year, indicating an increase of about 9.1%[15] - The company's cash and cash equivalents were reported at ¥674,811,402.35, down from ¥806,172,853.86, representing a decrease of approximately 16.3%[14] - Accounts receivable decreased to ¥1,010,318,349.91 from ¥1,163,469,387.85, a decline of about 13.1%[14] - Inventory increased to ¥229,130,224.37, up from ¥178,138,863.11, marking a rise of approximately 28.6%[15] - Total liabilities were reported at ¥13,783,892,661.04, slightly down from ¥13,989,739,540.15, indicating a decrease of about 1.5%[16] - The company's equity attributable to shareholders reached ¥17,101,447,486.86, up from ¥12,206,913,076.61, reflecting an increase of approximately 40.3%[17] - Non-current assets totaled ¥28,212,757,024.36, compared to ¥23,748,233,623.08 in the previous year, showing an increase of about 18.5%[15] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥5,716,639,846.28, representing an increase of 154.80%[5] - The net cash flow from operating activities for the first three quarters of 2022 was RMB 5,716,639,846.28, compared to RMB 2,243,611,813.71 in the same period of 2021, showing an increase of about 154.9%[21] - The cash inflow from operating activities totaled RMB 7,468,039,657.14 for the first three quarters of 2022, compared to RMB 3,596,418,423.35 in the same period of 2021, marking an increase of about 107.8%[22] - The net cash flow from financing activities was -3,258,571,691.56, compared to a positive cash flow of 1,742,665,857.68 in the previous period[23] - Cash and cash equivalents at the end of the period totaled 674,644,528.55, down from 796,123,355.08 at the beginning of the period[23] - The company repaid debts amounting to 2,663,042,154.87 during the quarter[23] - Dividend payments and interest paid totaled 584,403,672.92, compared to 553,900,142.32 in the previous period[23] - The total cash outflow from financing activities was 3,258,571,691.56, an increase from 812,668,142.32 in the previous period[23] - The net decrease in cash and cash equivalents was -131,362,046.77, compared to -17,842,911.08 in the previous period[23] Shareholder Information - The company has a total of 210,019 common shareholders at the end of the reporting period[9] Other Information - The company reported a significant increase in oil and gas production and sales prices, contributing to the revenue growth[8] - The total operating costs for the first three quarters of 2022 were RMB 3,404,901,849.91, up from RMB 2,723,957,654.45 in the same period of 2021, which is an increase of about 24.9%[18] - The company recorded a financial expense of RMB 316,048,579.76 in the first three quarters of 2022, a decrease from RMB 452,684,143.30 in the same period of 2021, indicating a reduction of approximately 30.1%[18] - The company reported a tax expense of RMB 718,632,071.30 for the third quarter of 2022, compared to RMB 124,321,273.62 in the same quarter of 2021, reflecting an increase of approximately 478.5%[19] - The impact of exchange rate changes on cash and cash equivalents was 78,395,893.56, compared to -4,909,696.33 in the previous period[23] - The company did not apply new accounting standards or interpretations for the first time in 2022[23] - The report was issued by the board of directors on October 28, 2022[24]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥4,268,923,946.66, a 102.35% increase compared to ¥2,109,723,236.65 in the same period last year[21]. - Net profit attributable to shareholders was ¥1,614,081,581.96, representing a 433.14% increase from ¥302,747,907.50 year-on-year[21]. - The company achieved a net cash flow from operating activities of ¥3,533,940,989.79, up 164.24% from ¥1,337,384,630.13 in the previous year[21]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2022, representing a 20% year-over-year growth[66]. - Total operating revenue for the first half of 2022 reached CNY 4,268,923,946.66, a significant increase of 102.5% compared to CNY 2,109,723,236.65 in the same period of 2021[124]. - Operating profit for the first half of 2022 was CNY 2,040,981,541.69, compared to CNY 377,567,391.77 in the first half of 2021, reflecting a substantial growth[125]. - The total comprehensive income for the first half of 2022 was ¥1,930,443,609.97, compared to -¥431,060,647.99 in the first half of 2021, showing a significant recovery[128]. Assets and Liabilities - The company's net assets attributable to shareholders increased by 15.81% to ¥14,137,356,686.58 from ¥12,206,913,076.61 at the end of the previous year[21]. - The total liabilities at the end of the period were ¥1,510,137,211.26, which is 5.21% of total assets, reflecting a 51.96% increase compared to the previous year[36]. - The total liabilities of the company reached CNY 14,832,313,075.54, up from CNY 13,989,739,540.15, which is an increase of approximately 6.0%[119]. - The company's long-term borrowings decreased by 45.06% to ¥1,201,997,117.81, primarily due to the repayment of revolving credit[36]. - The total current liabilities increased to CNY 3,729,266,572.63 from CNY 2,442,925,133.24, marking a significant rise of about 52.6%[118]. Legal and Regulatory Issues - The company is involved in a legal case where it may be liable for up to CNY 3.582 billion due to a trust default lawsuit[6]. - The company has appealed a court ruling that deemed a compensation agreement invalid, asserting that it does not violate any guarantee provision[7]. - The company is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, with no conclusive opinions received as of the report date[88]. - The company faced administrative penalties from the China Securities Regulatory Commission for information disclosure violations, resulting in warnings and fines for its executives[93]. - The company was publicly reprimanded by the Shanghai Stock Exchange due to inaccurate performance forecast disclosures[94]. Shareholder and Capital Management - The company did not distribute profits or increase capital reserves for the first half of 2022[4]. - The company has not declared any dividends or stock bonuses for the reporting period, indicating a focus on capital retention[51]. - The company reported a significant reduction in shareholding by major shareholders, with a decrease from 374,546,413 shares (5.51% of total shares) to 326,146,413 shares (4.80%) after the major asset restructuring[74]. - The company committed to maintaining a minimum of three non-independent directors on the board, ensuring active communication with other shareholders for support[75]. - The company has pledged not to transfer any shares or voting rights to the transaction counterparties or their affiliates for 36 months following the major asset restructuring[75]. Operational Highlights - The company added 33 new shale oil wells, bringing total shale oil net wells to 638, with oil production of 6,777,500 barrels, a 23.6% increase from the previous year[30]. - Natural gas production reached 15,573,100 Mcf, an increase of 19.51% compared to the previous year[30]. - The average WTI oil price for the first half of 2022 was $101.59 per barrel, an increase of $39.65 per barrel or 64.01% year-on-year[30]. - The company plans to continue expanding its oil and gas exploration and production operations, leveraging its competitive advantages in the Permian Basin[28]. Risk Management - The company faces various risks as outlined in the management discussion and analysis section of the report[9]. - The company continues to hedge against international oil price fluctuations to mitigate the impact on operations and cash flow[46]. - The company faces risks from currency exchange rates, particularly with the appreciation of the USD against the RMB affecting reported earnings and asset values[47]. - Macroeconomic pressures, including inflation and supply chain uncertainties, may lead to increased drilling and operational costs, potentially limiting oil and gas production growth[47]. Environmental and Social Responsibility - The company adheres to local environmental regulations and has not experienced any significant environmental incidents during the reporting period[52]. - The company is committed to reducing its carbon footprint and has implemented measures for energy conservation and emissions reduction[53]. Corporate Governance - The company has undergone a change in control, with no actual controller currently, and the board is fulfilling its duties within the legal framework[81]. - The company is focused on maintaining operational stability and protecting shareholder interests through the election of new directors and supervisors[80]. - The company has committed to ensuring that shareholder rights, including dividend requests and share transfers, are exercised in accordance with prior authorizations[82]. Financial Reporting and Compliance - The financial report is prepared based on the principle of going concern, indicating that the company has a good ability to continue its operations for the next 12 months[154]. - The company’s accounting policies are in accordance with the enterprise accounting standards, ensuring a true and complete reflection of its financial status and operating results[156]. - The company has not reported any significant changes in accounting policies or prior period error corrections that would impact the financial statements[143].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 1,681,657,312.34, representing a year-on-year increase of 38.74%[4] - Net profit attributable to shareholders was RMB 526,684,158.96, reflecting a significant increase of 108.08% compared to the same period last year[4] - Basic earnings per share were RMB 0.0774, up 108.06% from the previous year[4] - Net profit for Q1 2022 reached 526,684,158.96 RMB, representing a 108.2% increase from 253,112,256.66 RMB in Q1 2021[16] - The net profit attributable to the parent company shareholders for Q1 2022 was approximately ¥526.68 million, compared to ¥253.11 million in Q1 2021, representing a year-over-year increase of 108.2%[17] - The total comprehensive income attributable to the parent company owners for Q1 2022 was approximately -¥56.55 million, a decrease from ¥64.08 million in Q1 2021[17] Cash Flow - The net cash flow from operating activities reached RMB 1,261,413,934.07, marking a 140.00% increase year-on-year[4] - The net cash flow from operating activities for Q1 2022 was approximately ¥1.26 billion, up from ¥525.59 million in Q1 2021, indicating a significant increase of 139.8%[19] - Cash inflows from operating activities totaled approximately ¥1.80 billion in Q1 2022, compared to ¥987.37 million in Q1 2021, marking an increase of 82.3%[18] - Cash outflows from operating activities amounted to approximately ¥542.22 million in Q1 2022, compared to ¥461.77 million in Q1 2021, reflecting an increase of 17.4%[19] - The net cash flow from investing activities for Q1 2022 was approximately -¥572.82 million, a decrease from -¥2.67 billion in Q1 2021[19] - The net cash flow from financing activities for Q1 2022 was approximately -¥831.25 million, compared to a positive cash flow of ¥2.16 billion in Q1 2021[19] - The ending balance of cash and cash equivalents as of the end of Q1 2022 was approximately ¥659.89 million, down from ¥771.01 million at the end of Q1 2021[20] Assets and Liabilities - Total assets as of March 31, 2022, were RMB 26,572,714,754.96, a slight increase of 1.44% from the end of the previous year[5] - Total assets as of March 31, 2022, amounted to 26,572,714,754.96 RMB, up from 26,196,652,616.76 RMB at the end of 2021[14] - Total liabilities increased to 14,422,347,023.82 RMB in Q1 2022, compared to 13,989,739,540.15 RMB in Q1 2021, indicating a rise of 3.1%[14] - The company’s equity attributable to shareholders decreased slightly to 12,150,367,731.14 RMB in Q1 2022 from 12,206,913,076.61 RMB at the end of 2021[14] Shareholder Information - The top ten shareholders held a total of 1,800,000,000 shares, with the largest shareholder owning 6.39% of the company[8] Operational Highlights - The increase in revenue and profit was primarily driven by a rise in oil and gas production and prices compared to the previous year[7] - Total operating costs for Q1 2022 were 1,016,071,100.48 RMB, up 15.0% from 884,227,581.72 RMB in Q1 2021[15] - Accounts receivable increased to 1,342,899,480.06 RMB in Q1 2022, compared to 1,163,469,387.85 RMB at the end of 2021, reflecting a growth of 15.4%[11] - The company reported non-recurring gains and losses totaling RMB 785,884.50 for the period[6] - Research and development expenses for Q1 2022 were not explicitly stated but are part of the overall operating costs[16] - The company reported a significant increase in financial liabilities, with derivative financial liabilities rising to 72,437,817.61 RMB from 41,195,562.66 RMB year-over-year[12] Foreign Exchange Impact - The company experienced a foreign exchange loss of approximately -¥3.46 million in Q1 2022, compared to a loss of -¥67.48 million in Q1 2021, indicating an improvement in foreign exchange impact[20] Strategic Developments - There were no significant new strategies or product developments mentioned in the report[10]

Financial Performance - The company achieved a consolidated net profit of ¥365,150,697.04 for the year 2021, with the net profit attributable to the parent company also being ¥365,150,697.04[4] - The company's operating revenue for 2021 was approximately CNY 4.82 billion, an increase of 16.36% compared to 2020[18] - The net profit attributable to shareholders for 2021 was CNY 365.15 million, a significant recovery from a loss of CNY 2.66 billion in 2020[18] - The net cash flow from operating activities reached CNY 3.43 billion, reflecting a 28.01% increase year-on-year[18] - The total assets at the end of 2021 amounted to CNY 26.20 billion, up 15.25% from the previous year[18] - The basic earnings per share for 2021 was CNY 0.0537, compared to a loss of CNY 0.3906 per share in 2020[19] - The company reported a weighted average return on equity of 2.896% for 2021, an increase of 20.854 percentage points from the previous year[19] - The company recorded a net profit of CNY 375.87 million in Q4 2021, marking a strong performance despite a loss in the previous quarter[21] - Non-recurring losses for 2021 totaled CNY 512.37 million, primarily due to provisions for pending litigation[22] - The company reported a significant reliance on a few customers, with over 50% of sales attributed to a single customer[42] Legal and Compliance Issues - The company is currently involved in a legal dispute regarding a trust default, with a potential liability of ¥3.582 billion[5] - The company has filed an appeal against a court ruling that determined its liability in the aforementioned case[6] - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[5] - There are no violations of decision-making procedures regarding external guarantees[5] - The company has highlighted potential risks in its management discussion and analysis section, urging investors to be cautious[7] - The company emphasizes that future plans and strategic statements do not constitute substantive commitments to investors, highlighting investment risks[4] - The company faced regulatory scrutiny from the China Securities Regulatory Commission for information disclosure violations, resulting in penalties[132] Operational Highlights - In 2021, the company reported an oil production of 11.9656 million barrels, a decrease of 1.2838 million barrels or 9.69% compared to 2020, while natural gas production increased by 760,100 barrels of oil equivalent, an increase of 18.71%[25] - The company's proved reserves reached 314.686 million barrels of oil equivalent by the end of 2021, an increase of 144.874 million barrels or 85.31% year-over-year[25] - The company's leverage ratio improved to 2.5 times by the end of 2021, marking the best level in its history[25] - The average price of WTI crude oil for the year was $67.99 per barrel, up 73.31% from $39.23 per barrel in 2020[27] - The average price of Henry Hub natural gas for the year was $3.91 per MMBtu, an increase of 91.67% from $2.04 per MMBtu in 2020[25] - The company successfully completed the acquisition of Grenadier oil and gas assets in 2021, enhancing its resource reserves and ensuring stable production growth[25] - The company’s shale oil net well count reached 605 by the end of 2021, an increase of 191 wells compared to the previous year[25] Shareholder and Governance Matters - The board proposed no cash dividends or bonus shares for the 2021 profit distribution plan[4] - The total pre-tax remuneration for the board of directors and senior management during the reporting period amounted to CNY 5.65 million[69] - The company did not experience any changes in shareholding for its directors and supervisors during the reporting period[69] - The company has maintained a consistent board structure with no changes in shareholding among directors and supervisors[68] - The company emphasizes the importance of maintaining a robust governance structure and transparent information disclosure to protect investor interests[64] - The company has a diverse board with members holding various roles in different sectors, which may facilitate market expansion and strategic partnerships[73] Financial Position and Equity - As of December 31, 2021, the company's retained earnings were negative at ¥-1,765,579,654.10[4] - The capital reserve balance as of December 31, 2021, was ¥6,657,204,139.08, with ¥6,639,791,337.94 available for capital increase[4] - The company's net assets attributable to shareholders at the end of 2021 were CNY 12.21 billion, a slight decrease of 1.78% from 2020[18] - The company's total liabilities and equity amounted to ¥26,196,652,616.76 in 2021, compared to ¥22,729,928,962.75 in 2020, indicating an increase of approximately 15.5%[168] - The company's equity attributable to shareholders decreased to ¥12,206,913,076.61 in 2021 from ¥12,428,067,036.28 in 2020, a decline of about 1.8%[168] Future Outlook and Strategic Initiatives - The company plans to adjust its drilling strategy and development plans based on oil price forecasts and production history[32] - The company will explore strategic projects in the green economy and related technologies to enhance sustainable development capabilities[60] - The company anticipates continued reliance on oil in sectors like aviation and shipping, despite global shifts towards sustainable energy[58] - The company plans to focus on shale technology innovations and cost reduction measures to improve profitability and operational flexibility in 2022[60] - The company expects continued upward pressure on oil prices due to persistent supply-demand gaps and geopolitical tensions, as projected by the IEA[57] Environmental and Social Responsibility - The company is committed to environmental protection and has not experienced any major environmental incidents during the reporting period[95] - The company actively promotes a green low-carbon development strategy and complies with local environmental laws[96] Audit and Compliance - The financial statements are prepared based on the principle of going concern, reflecting the company's financial position, operating results, changes in equity, and cash flows accurately[198] - The company received an audit report with an emphasis on certain matters, indicating potential risks, which the board acknowledged and is cooperating with regulatory investigations[124] - The company has maintained compliance with relevant regulations regarding the payment of remuneration to its directors and supervisors[74]