中国石化山东泰山石油股份有限公司 2019 年半年度报告全文 中国石化山东泰山石油股份有限公司 2019 年半年度报告 2019 年 08 月 1 中国石化山东泰山石油股份有限公司 2019 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人岳祥训、主管会计工作负责人崔富来及会计机构负责人(会计主 管人员)许新声明：保证本半年度报告中财务报告的真实、准确、完整。 中国石化山东泰山石油股份有限公司 2019 年半年度报告全文 释义 | 释义项 | 指 | 释义内容 | | --- | --- | --- | | 中国石化 | 指 | 中国石油化工股份有限公司 | | 公司、本公司 | 指 | 中国石化山东泰山石油股份有限公司 | | 报告期 | 指 | 2019 年 1 月 1 日至 2019 年 6 月 30 日 | | 元、万元 | 指 | 人民币元、万元 | 4 所有董事均已出席了审议本报告的董事会会议。 本半年度报告涉及的未来计划等前瞻性陈述， ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥753,715,761.81, representing a 7.89% increase compared to ¥698,574,570.93 in the same period last year[8]. - Net profit attributable to shareholders was ¥313,884.97, a significant increase of 49.23% from ¥210,332.35 year-on-year[8]. - The net cash flow from operating activities improved dramatically to ¥164,695,549.58, compared to a negative cash flow of ¥17,330,007.63 in the previous year, marking a 1,050.35% change[8]. - Total operating revenue for Q1 2019 was CNY 753,715,761.81, an increase of 7.9% compared to CNY 698,574,570.93 in Q1 2018[37]. - Net profit for Q1 2019 reached CNY 339,454.76, compared to CNY 167,838.89 in Q1 2018, representing a growth of 102.1%[39]. - Operating revenue for the current period reached ¥746,944,801.11, an increase from ¥696,167,135.27 in the previous period, representing a growth of approximately 7.2%[42]. - The net profit for the current period was ¥3,484.11, a significant decrease from ¥778,731.34 in the previous period, indicating a decline of approximately 99.55%[43]. - Operating profit decreased to ¥1,809,553.68 from ¥2,872,603.43, reflecting a decline of about 37%[43]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,476,209,226.90, up 16.35% from ¥1,268,717,144.37 at the end of the previous year[8]. - The total assets as of March 31, 2019, amounted to CNY 1,535,940,740.15, an increase from CNY 1,342,251,002.72 at the end of 2018[36]. - The total liabilities as of March 31, 2019, were CNY 572,310,403.92, compared to CNY 365,157,776.15 at the end of 2018, marking an increase of about 57%[30]. - The total liabilities increased to CNY 548,594,676.93 from CNY 354,908,423.61, marking a rise of 54.5%[35]. - The total assets increased from CNY 1,268,717,144.37 on December 31, 2018, to CNY 1,311,445,673.71 on January 1, 2019, reflecting an adjustment of CNY 42,728,529.34[55]. - The total liabilities rose from CNY 365,157,776.15 to CNY 407,886,305.49, with a notable increase in non-current liabilities due to the adoption of new financial standards[55]. - Total current liabilities amounted to CNY 347,336,010.28[58]. - Total non-current liabilities reached CNY 48,470,107.29, with lease liabilities at CNY 40,897,693.96[58]. - Total liabilities were CNY 395,806,117.57, indicating a significant increase in financial obligations[58]. - Total equity stood at CNY 987,342,579.11, reflecting the company's financial stability[58]. Cash Flow - Cash and cash equivalents increased by 1.78 times compared to the beginning of the period, primarily due to unpaid portions of goods[15]. - The company's cash and cash equivalents increased significantly to CNY 240,296,845.16 from CNY 86,432,709.43, representing an increase of about 177%[28]. - The company's cash flow management strategies have led to a significant recovery in cash flow from operations, enhancing liquidity and financial stability[51]. - The cash inflow from operating activities totaled CNY 898,134,964.86, compared to CNY 837,186,149.17 in the previous year, indicating a growth of approximately 7.5%[51]. - The net cash flow from operating activities for Q1 2019 was CNY 159,069,332.96, a significant improvement compared to a net outflow of CNY 15,183,128.41 in Q1 2018[51]. - Total cash and cash equivalents at the end of Q1 2019 reached CNY 232,521,435.35, up from CNY 35,488,902.78 at the end of Q1 2018, indicating a net increase of CNY 148,358,375.89[52]. - The cash outflow from investing activities was CNY 26,439,620.30, resulting in a net cash flow from investing activities of -CNY 9,456,420.30, compared to -CNY 30,973,389.90 in the same period last year[51]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 50,717[11]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 24.57% of the shares, totaling 118,140,120 shares[11]. - The company's net assets attributable to shareholders were ¥900,753,901.26, showing a slight increase of 0.03% from ¥900,440,016.29[8]. Operational Expenses - Operating expenses increased by 35.62% year-on-year, mainly due to payments made for corporate assistance funds[15]. - Total operating costs for Q1 2019 were CNY 751,359,612.58, up from CNY 696,390,819.65 in the previous year, reflecting a rise of 7.9%[37]. - The total operating expenses for the current period were ¥737,778,683.66, compared to ¥683,826,000.00 in the previous period, indicating an increase of about 7.9%[42]. Financial Reporting and Compliance - The first quarter report was not audited, which may affect the reliability of the financial data presented[59]. - The company has not applied the new financial instruments and leasing standards retrospectively, which could impact future reporting[59]. - The report was presented by Chairman Yue Xiangxun, indicating leadership involvement in financial disclosures[60].

Financial Performance - The company's operating revenue for 2018 was ¥3,077,522,876.17, representing a 13.19% increase compared to ¥2,718,944,013.59 in 2017[17] - The net profit attributable to shareholders for 2018 was ¥1,876,962.28, a decrease of 29.94% from ¥2,678,983.42 in 2017[17] - The net cash flow from operating activities was ¥92,414,940.09, down 43.28% from ¥162,920,064.91 in the previous year[17] - The basic earnings per share for 2018 was ¥0.0039, a decline of 30.36% compared to ¥0.0056 in 2017[17] - The company reported a significant drop in net profit after deducting non-recurring gains and losses, with a loss of ¥5,188,520.19 in 2018 compared to a profit of ¥8,147,239.13 in 2017, marking a 163.68% decline[17] - The weighted average return on net assets for 2018 was 0.23%, down from 0.31% in 2017[18] - The company faced a decrease in quarterly net profit, with the fourth quarter showing a profit of ¥689,434.71, down from higher profits in previous quarters[21] Assets and Liabilities - Total assets at the end of 2018 amounted to ¥1,268,717,144.37, an increase of 8.83% from ¥1,165,775,712.41 at the end of 2017[18] - The net assets attributable to shareholders decreased by 1.89% to ¥900,440,016.29 from ¥917,753,387.20 at the end of 2017[18] - The company's total liabilities increased to CNY 365,157,776.15 in 2018 from CNY 244,279,347.20 in 2017, reflecting a growth of approximately 49.4%[176] - The total owner's equity decreased to CNY 903,559,368.22 in 2018 from CNY 921,496,365.21 in 2017, a decline of about 1.9%[177] Revenue Streams - The retail volume of refined oil decreased by 2.94 million tons to 34.5 million tons in 2018, while direct sales to large customers increased by 0.74 million tons to 6.37 million tons[32] - The company’s gasoline sales accounted for 60.39% of total revenue, while diesel sales accounted for 32.72%, with diesel sales decreasing by 4.49% year-on-year[35] - The company’s non-oil business revenue grew by 40.98% year-on-year, reaching CNY 195,243,374.64[38] - Retail sales revenue from refined oil for the year 2018 was CNY 2.496 billion, accounting for approximately 86% of the total operating revenue for the year[165] Costs and Expenses - The total sales cost for gasoline was approximately ¥1.64 billion, accounting for 58.22% of the operating costs, an increase of 3.39% compared to 2017[41] - The total sales cost for diesel was approximately ¥982 million, which is 34.97% of the operating costs, showing a decrease of 4.26% year-on-year[41] - Sales expenses increased by 15.25% to approximately ¥198 million, driven by higher asset and sales costs[46] - Management expenses rose by 17.54% to approximately ¥44 million, also due to increased asset costs[46] Cash Flow - The net cash flow from operating activities decreased by 43.28% to approximately ¥92 million, primarily due to payments for previous debts[49] - The total cash inflow from financing activities increased by 50% to ¥60 million, attributed to increased borrowings during the year[49] - The cash and cash equivalents decreased by approximately ¥2.68 million, marking a 103.70% decline compared to the previous year[49] - The total cash outflow from investing activities was ¥97,819,900.84, up 26.4% from ¥77,443,105.15 in the previous year[197] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[5] - The company did not distribute profits for 2018, maintaining a focus on reinvestment and growth[73] - The retained earnings will be used for the construction of refueling stations, aligning with the long-term interests of all shareholders[74] Competition and Market Conditions - The company faced severe competition in the refined oil market, with a significant oversupply of resources and increasing market competition[31] - The competitive landscape in the refined oil market is expected to remain intense, with an oversupply of resources and increasing competition[64] Management and Governance - The company has maintained a stable leadership team with no significant changes in shareholding among the directors[125] - The current board includes independent directors with various roles in other companies, enhancing governance and oversight[130] - The company has implemented a performance-based compensation system for senior management, linking their pay to company and individual performance[131] Internal Controls and Compliance - The audit committee confirmed that there were no major defects in financial reporting or internal controls during the reporting period[154] - The internal control audit report indicated that the company maintained effective financial reporting internal controls in all material respects as of December 31, 2018[161] - The company has maintained compliance with all legal and regulatory commitments during the reporting period[87] Employee Information - Total number of employees is 1,305, with 1,134 in the parent company and 171 in major subsidiaries[134] - Employee composition includes 1,055 sales personnel, 135 technical staff, 45 finance staff, and 70 administrative staff[134] - The company emphasizes a performance-based compensation system, linking employee income to operational performance and management levels[136] Future Outlook - The company anticipates a total operating volume of 510,000 tons of refined oil and 4.5 million cubic meters of natural gas in 2019[64] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming year[190] - Investment in new technologies and product development is a key strategy for future growth[190]

2018 年第三季度报告正文 1 中国石化山东泰山石油股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 中国石化山东泰山石油股份有限公司 2018 年第三季度报告正文 证券代码：000554 证券简称：泰山石油 公告编号：2018-24 中国石化山东泰山石油股份有限公司 所有董事均已出席了审议本次季报的董事会会议。 公司负责人岳祥训、主管会计工作负责人崔富来及会计机构负责人(会计主 管人员)许新声明：保证季度报告中财务报表的真实、准确、完整。 2 中国石化山东泰山石油股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,333,491,153.86 | | 1,165,775,712.41 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,440,867,744.29, representing a 5.54% increase compared to CNY 1,365,205,627.43 in the same period last year[18]. - The net profit attributable to shareholders was CNY 921,946.52, which is a 17.78% increase from CNY 782,737.77 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 24.23% to CNY 2,746,740.02 from CNY 3,625,142.83 in the previous year[18]. - The company reported a significant increase in income tax expenses, which rose by 164.39% to CNY 1,957,552.02, primarily due to an increase in deferred income tax[34]. - The gross profit margin for the refined oil distribution segment was 8.67%, with a slight increase of 0.34% compared to the previous year[35]. - The company reported a total of CNY 3,742,900,000 in surplus reserves at the end of the current period[126]. - The total comprehensive income for the first half of 2018 was CNY 974,192.12, up from CNY 899,962.74, reflecting an increase of 8.2%[107]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 15,537,296.42, down 81.01% from CNY 81,823,306.56 in the same period last year[18]. - The company's cash and cash equivalents decreased by 274.21% to CNY -60,901,732.74, impacted by high investment and financing expenditures[34]. - Cash inflow from operating activities totaled CNY 1,689,473,452.85, an increase from CNY 1,598,190,785.84 in the previous period, representing a growth of approximately 5.7%[114]. - The ending balance of cash and cash equivalents was CNY 28,207,491.71, down from CNY 51,809,729.43, a decrease of approximately 45.4%[115]. - The net increase in cash and cash equivalents was CNY -59,262,041.45, compared to CNY 38,029,195.01 in the previous period, showing a significant decline[119]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,221,129,169.78, an increase of 4.75% from CNY 1,165,775,712.41 at the end of the previous year[18]. - Total liabilities increased to CNY 298,658,612.45 from CNY 244,279,347.20, which is an increase of about 22.3%[98]. - The company's total liabilities included short-term borrowings of CNY 20,000,000.00, down from CNY 40,000,000.00 in the previous year[40]. - The company's equity attributable to shareholders reached CNY 918,675,333.72, slightly up from CNY 917,753,387.20, showing a marginal increase of 0.1%[99]. Market Position and Operations - The company remains the largest distributor of refined oil and vehicle natural gas in Tai'an City, maintaining a significant market position[26]. - The company maintained a stable market position by optimizing its distribution network and adjusting marketing strategies in response to market changes[31]. - The company anticipates challenges due to structural adjustments in refined oil demand and increased competition, particularly in gasoline and diesel consumption[47]. Investments and Capital Expenditures - Fixed assets increased by 4.5% due to investments in gas station renovations[27]. - The company reported a significant increase in construction in progress, attributed to the expansion of gas station renovation projects[27]. - The company’s investment activities resulted in a net cash outflow of CNY 55,412,670.84, an increase of 21.07% compared to the previous year[41]. Shareholder Information - The total number of shares is 480,793,320, with 24.57% held by state-owned entities[78]. - The top ten shareholders include China Petroleum & Chemical Corporation with 24.57% and Shanghai Xiangda Equity Investment Fund Management Co., Ltd. with 1.33%[81][82]. - The company has not issued any preferred shares during the reporting period[86]. Corporate Governance and Compliance - There were no significant lawsuits or penalties reported during the reporting period[58]. - The company has not engaged in any major asset acquisitions or disposals during the reporting period[62]. - The company has not implemented any employee incentive plans during the reporting period[60]. - The company has not disclosed any other significant matters requiring explanation during the reporting period[74]. Accounting Policies and Practices - The financial statements comply with the enterprise accounting standards, ensuring transparency and accuracy in reporting[139]. - The company’s accounting policies are tailored to its operational characteristics, particularly in areas like accounts receivable and inventory valuation[138]. - The company uses a moving average method for inventory cost calculation upon issuance[177]. - The company recognizes impairment provisions for inventories when the cost exceeds the net realizable value[178].

中国石化山东泰山石油股份有限公司 2018 年第一季度报告正文 证券代码：000554 证券简称：泰山石油 公告编号：2018-06 中国石化山东泰山石油股份有限公司 2018 年第一季度报告正文 1 中国石化山东泰山石油股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人任君、主管会计工作负责人李祥新及会计机构负责人(会计主管 人员)许新声明：保证季度报告中财务报表的真实、准确、完整。 2 中国石化山东泰山石油股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 698,574,570.93 | 680,528,966.10 | 2.65% | | 归属于上 ...

Financial Performance - The company's operating revenue for 2017 was ¥2,718,944,013.59, a decrease of 1.75% compared to ¥2,767,332,285.60 in 2016[17] - The net profit attributable to shareholders for 2017 was ¥2,678,983.42, representing a decline of 38.09% from ¥4,327,459.16 in 2016[17] - The basic earnings per share decreased by 33.33% to ¥0.006 in 2017, compared to ¥0.009 in 2016[17] - The weighted average return on equity for 2017 was 0.31%, down from 0.47% in 2016[18] - The total comprehensive income for the period was CNY 2,846,747.39, a decrease from CNY 4,652,637.86, indicating a decline in overall financial performance[184] - The net profit for the current period was ¥5,328,093.60, down 53.2% from ¥11,375,962.59 in the previous period[186] Cash Flow - The net cash flow from operating activities increased by 135.83% to ¥162,920,064.91 in 2017, up from ¥69,084,675.64 in 2016[17] - The company's operating cash flow for Q4 2023 was approximately ¥69.60 million, showing significant fluctuations throughout the year[22] - The cash flow from operating activities generated a net amount of ¥162,920,064.91, an increase of 135.7% compared to ¥69,084,675.64 in the previous period[190] - The total increase in cash and cash equivalents was CNY 70,695,695.14, contrasting with a decrease of CNY -4,120,706.23 in the previous year, showing a positive cash position[194] Assets and Liabilities - Total assets at the end of 2017 were ¥1,165,775,712.41, an increase of 7.35% from ¥1,085,986,848.80 at the end of 2016[18] - The total assets increased to CNY 1,235,792,296.97 from CNY 1,152,505,784.37, indicating growth in asset base[180] - Current liabilities increased to RMB 229.87 million from RMB 152.49 million, representing a rise of approximately 50.8%[175] - Total liabilities rose to CNY 236,093,189.55, compared to CNY 158,134,770.55, reflecting increased financial obligations[180] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.10 per 10 shares, based on a total of 480,793,320 shares[5] - The cash dividend proposal for 2017 is to distribute CNY 4,807,933.20, which is 179.47% of the net profit attributable to ordinary shareholders[67] - The cash dividend per 10 shares is CNY 0.10 (including tax), with no bonus shares or capital reserve transfers proposed[70] Market and Competition - The retail volume of finished oil decreased by 4.68% to 374,400 tons in 2017, while natural gas sales increased by 82,000 cubic meters to 472,000 cubic meters[32] - The company faced intensified competition in the finished oil market, leading to strategic adjustments in marketing and operations[32] - The company anticipates facing risks from market oversupply and intensified competition in the refined oil market[62] Management and Governance - The company has not reported any significant changes in its main business operations since its listing[16] - The company emphasizes safety management and has installed vapor recovery devices at its gas stations to ensure stable operations[63] - The governance structure of the company complies with relevant regulations and is designed to protect the interests of shareholders[134] - The audit committee confirmed that the financial statements for 2017 accurately reflect the company's financial status and operating results, with no significant misstatements found[143] Human Resources - The company maintains a focus on employee satisfaction and safety, enhancing their skills and creating a supportive work environment[97] - The company has established a comprehensive training system to enhance employee skills and professional capabilities[131] - The total remuneration for directors, supervisors, and senior management in 2017 amounted to CNY 2.083 million[126] Internal Controls and Compliance - The company has a complete independent accounting system and financial management framework, ensuring independent tax payments and bank accounts[136] - The internal control evaluation report indicated that all units included in the evaluation accounted for 100% of the company's consolidated revenue[148] - The audit opinion issued was a standard unqualified opinion, confirming the fair presentation of the financial statements as of December 31, 2017[153]

Financial Performance - Operating revenue for the reporting period was ¥636,752,233.74, a decrease of 8.17% year-on-year[8]. - Net profit attributable to shareholders was ¥876,975.24, down 51.38% compared to the same period last year[8]. - Basic earnings per share decreased by 52.63% to ¥0.0018[8]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,107,119,795.04, an increase of 1.95% compared to the end of the previous year[8]. - Prepayments increased by 143% year-to-date, mainly due to an increase in prepaid fuel card deposits and advance payments[15]. Cash Flow and Income - Cash flow from operating activities increased by 89.36% year-to-date, totaling ¥93,323,268.74[8][16]. - Non-operating income increased by 544% year-on-year, primarily due to gains from the disposal of non-current assets[15]. - Investment income rose by 186% year-on-year, attributed to increased profits from joint ventures[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 58,161[11]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 24.57% of the shares[11]. Commitments and Compliance - There are no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[18]. - The company has fulfilled all commitments made to minority shareholders on time[18]. - There are no non-operating fund occupations by the controlling shareholder or related parties during the reporting period[23]. Other Information - The company has not conducted any poverty alleviation work in the third quarter and has no subsequent plans for such initiatives[24]. - The company does not have any securities or derivative investments during the reporting period[19][20].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 1,365,205,627.43, a slight increase of 0.44% compared to CNY 1,359,278,284.60 in the same period last year[18]. - The net profit attributable to shareholders decreased by 35.85% to CNY 782,737.77 from CNY 1,220,238.28 year-on-year[18]. - The company reported a decrease of 5.66% in net profit after deducting non-recurring gains and losses, totaling CNY 3,625,142.83 compared to CNY 3,842,485.55 in the previous year[18]. - The company achieved a total sales volume of 220,000 tons of refined oil and 2.18 million cubic meters of natural gas, generating operating revenue of CNY 1,365,205,627.43, a year-on-year increase of 0.44%[32][34]. - The gross profit margin for oil products was 8.20%, with gasoline sales increasing by 10.38% and natural gas sales rising by 12.78%[36]. - The total profit for the first half of 2017 was CNY 1,640,372.13, down from CNY 2,191,365.53, a decline of approximately 25%[106]. - The company reported a comprehensive income total of CNY 899,962.74, down from CNY 1,411,770.58, reflecting a decline of approximately 36%[107]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 75.30% to CNY 81,823,306.56 compared to CNY 46,676,170.70 in the previous year[18]. - The net increase in cash and cash equivalents was CNY 34,959,546.91, reflecting a significant increase of 508.77% due to improved operating cash flow[35]. - Cash and cash equivalents at the end of the period reached CNY 51,809,729.43, up from CNY 24,679,533.06, indicating a significant increase of 109.5%[114]. - The overall cash and cash equivalents increased by CNY 34,959,546.91 during the period, compared to an increase of CNY 5,742,664.37 in the previous period, marking a substantial improvement[114]. - Total cash inflow from operating activities amounted to CNY 1,598,190,785.84, while cash outflow was CNY 1,516,367,479.28, resulting in a net inflow of CNY 81,823,306.56[113]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,125,500,543.98, reflecting a growth of 3.64% from CNY 1,085,986,848.80 at the end of the previous year[18]. - The company's total liabilities reached CNY 205,950,963.42, an increase from CNY 167,337,230.98, representing a growth of approximately 23.1%[98]. - Current liabilities rose to CNY 191,217,633.00, compared to CNY 152,486,450.93, marking an increase of about 25.4%[98]. - Non-current assets totaled CNY 949,230,490.12, slightly up from CNY 948,792,902.54, indicating a marginal growth of 0.05%[97]. - Owner's equity amounted to CNY 919,549,580.56, up from CNY 918,649,617.82, showing a slight increase of 0.1%[99]. Market and Competition - The company faced intensified competition in the refined oil market due to frequent price adjustments influenced by international oil prices and increased domestic refining capacity[30]. - The company adopted flexible marketing strategies to enhance market share and improve service quality in response to competitive pressures[30]. - The company is facing a surplus of refined oil resources, with diesel consumption continuing to decline and gasoline consumption stagnating, impacting operations negatively[48]. - The company is optimizing its marketing strategies and enhancing service functions at gas stations to maintain customer loyalty and improve competitiveness[48]. Corporate Governance and Compliance - The company did not experience any significant changes in profit composition or sources during the reporting period[35]. - There were no significant legal disputes or penalties during the reporting period, indicating stable operational conditions[58][59]. - The company has maintained a commitment to fulfilling its legal obligations and has not defaulted on any significant debts during the reporting period[60]. - The company did not engage in any major asset acquisitions or disposals during the reporting period[62][63]. - The company has not initiated any poverty alleviation programs or environmental protection initiatives during the reporting period[73][74]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 52,733[80]. - The largest shareholder, China Petroleum & Chemical Corporation, held 24.57% of the shares, amounting to 118,140,124 shares[80]. - The top ten unrestricted common shareholders included the National Social Security Fund with 7,533,127 shares (1.57%) and individual shareholders such as Tu Qiu with 4,250,000 shares (0.88%)[81]. Accounting and Financial Reporting - The financial report for the half-year was not audited[94]. - The company's financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency[131]. - The company’s business operations remain stable, with no significant doubts regarding the continuity of operations in the next 12 months[132]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period[193]. - The company recognizes revenue from sales of goods when the risks and rewards of ownership have transferred to the buyer, ensuring reliable measurement of revenue[185].

Financial Performance - Revenue for Q1 2017 was CNY 680,528,966.10, an increase of 5.02% compared to CNY 647,997,252.17 in the same period last year[8] - Net profit attributable to shareholders was CNY 148,859.96, representing a 43.30% increase from CNY 103,882.78 year-on-year[8] - Net profit excluding non-recurring gains and losses was CNY 1,773,990.64, up 38.37% from CNY 1,282,043.13 in the previous year[8] Cash Flow - Operating cash flow for the period was CNY 72,432,101.12, a significant recovery from a negative cash flow of CNY -3,142,786.45 in the same period last year[8] - The net cash flow from operating activities increased year-on-year, primarily due to unpaid purchase payments during the period[16] - The net cash flow from investing activities decreased by 61.49% year-on-year, mainly due to payments for gas station renovations[16] - The net cash flow from financing activities decreased year-on-year, primarily due to the repayment of bank credit loans from the previous period[16] Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 1,103,459,774.36, an increase of 1.61% from CNY 1,085,986,848.80 at the end of the previous year[8] - The number of ordinary shareholders at the end of the reporting period was 46,060[11] - The largest shareholder, Sinopec Limited, holds 24.57% of the shares, totaling 118,140,120 shares[11] Investment and Borrowing - Cash and cash equivalents increased by 46.56% compared to the beginning of the period, mainly due to unpaid portions of goods[15] - Short-term borrowings decreased due to repayment of previous bank credit loans[15] - Investment income increased by 57.45% year-on-year, attributed to reduced losses from subsidiaries[15]