PETROCHINA(00857)2023-10-30 08:35Financial Performance - Operating revenue for Q3 2023 was RMB 802,264 million, a decrease of 4.6% compared to RMB 840,780 million in Q3 2022[4] - Net profit attributable to shareholders of the parent company reached RMB 46,375 million, an increase of 21.1% from RMB 38,302 million in the same period last year[4] - The net profit excluding non-recurring gains and losses was RMB 47,169 million, up 16.8% from RMB 40,392 million in Q3 2022[4] - Basic earnings per share for Q3 2023 was RMB 0.25, a 21.1% increase from RMB 0.21 in Q3 2022[4] - Operating revenue for the nine months ended September 30, 2023, was RMB 2,282,135 million, a decrease of 7.0% compared to RMB 2,455,401 million in the same period of 2022[67] - Net profit attributable to shareholders of the parent company for the nine months ended September 30, 2023, was RMB 131,651 million, an increase of 9.0% from RMB 119,926 million in the same period of 2022[67] - Operating profit for the nine months ended September 30, 2023, was RMB 193,342 million, compared to RMB 186,108 million in the same period of 2022, reflecting a growth of 3.0%[67] Assets and Liabilities - Total assets as of September 30, 2023, were RMB 2,782,085 million, reflecting a 4.2% increase from RMB 2,670,345 million at the end of the previous year[4] - The total assets as of September 30, 2023, were RMB 2,781,820 million, an increase of 4.2% from RMB 2,670,079 million at the end of the previous year[24] - Current assets increased to RMB 336.64 billion from RMB 267.97 billion year-over-year[63] - Total liabilities rose to RMB 748.99 billion, up from RMB 707.92 billion at the end of 2022[64] - Total non-current assets as of September 30, 2023, amounted to RMB 2,057,019 million, slightly up from RMB 2,056,212 million as of December 31, 2022[76] - Total liabilities decreased to RMB 430,419 million from RMB 511,650 million year-over-year[76] Cash Flow - Net cash flow from operating activities for the first nine months of 2023 was RMB 341,000 million, an increase of 8.8% from RMB 313,548 million in the same period last year[4] - Operating cash flow for the period ending September 30, 2023, was RMB 341 million, an increase of 8.8% from RMB 314 million in the same period of 2022[47] - Cash and cash equivalents increased to RMB 276.59 billion from RMB 225.05 billion year-on-year, indicating a healthy financial position[18] - The company’s cash and cash equivalents at the end of the period stood at RMB 237,505 million, a slight increase from RMB 235,264 million year-over-year[47] - The company experienced a net increase in cash and cash equivalents of RMB 46,315 million, down from RMB 98,475 million in the previous year, indicating a decline of 53%[47] Production and Sales - The company processed 1,043.6 million barrels of crude oil, a growth of 16.5% from 895.7 million barrels in the previous year[13] - Sales of gasoline, kerosene, and diesel reached 12,562.4 million tons, an increase of 13.4% from 11,075.1 million tons year-on-year[14] - Domestic crude oil production for the first three quarters of 2023 was 583.8 million barrels, a 1.2% increase from 576.9 million barrels in the same period last year[31] - Total crude oil production for the first three quarters of 2023 was 706.0 million barrels, a 4.3% increase from 677.0 million barrels in the same period last year[32] - The company achieved a total natural gas production of 3,656.6 billion cubic feet in the first three quarters of 2023, a 6.1% increase from 3,444.8 billion cubic feet in the same period last year[32] - Natural gas sales for the first three quarters totaled 193.13 billion cubic meters, a 1.9% increase from 189.47 billion cubic meters in the same period last year[58] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[4] - The company is focusing on enhancing market development capabilities and customer service in its natural gas sales business[58] - The company plans to continue the shale gas resource tax reduction policy until December 31, 2027, which is expected to support sustainable development and operational results[36] - The company successfully acquired Putian New Energy Co., enhancing its presence in the electric vehicle charging sector[14] Other Financial Metrics - The weighted average return on net assets for the first nine months of 2023 was 9.31%, compared to 9.10% for the same period in 2022[4] - The return on equity (ROE) for the third quarter of 2023 was 3.27%, up by 0.41 percentage points from 2.86% in the same period last year[24] - Investment income from joint ventures and associates was RMB 5,832 million for the three months ended September 30, 2023, compared to RMB 4,737 million in the same period last year[41] - Research and development expenses for the nine months ended September 30, 2023, were RMB 13,988 million, slightly up from RMB 13,958 million in the same period of 2022[67] - The company reported a total profit of RMB 67,220 million for the three months ended September 30, 2023, compared to RMB 55,016 million in the same period last year[41]