2022-04-27 09:41Financial Performance - Operating revenue for the first quarter of 2022 was RMB 771,386 million, representing a 33.8% increase from RMB 576,559 million in the same period of 2021[4]. - Net profit attributable to shareholders for the first quarter of 2022 was RMB 22,605 million, up 24.5% from RMB 18,160 million in the first quarter of 2021[4]. - Basic earnings per share for the first quarter of 2022 were RMB 0.187, a 24.7% increase compared to RMB 0.150 in the same period of 2021[4]. - Total operating revenue for Q1 2022 reached RMB 771,386 million, a 33.8% increase from RMB 576,559 million in Q1 2021[9]. - Net profit attributable to shareholders for Q1 2022 was RMB 22,605 million, up 24.5% year-on-year[14]. - The total profit for the first quarter of 2022 was RMB 33,485 million, compared to RMB 30,296 million in the same period of 2021, reflecting an increase of 7.9%[39]. - The company's net profit according to Chinese accounting standards for the first quarter of 2022 was 26,476 million RMB, up from 23,136 million RMB in the same period of 2021, an increase of approximately 10.1%[53]. Assets and Liabilities - Total assets as of March 31, 2022, reached RMB 2,014,107 million, an increase of 6.6% compared to RMB 1,889,255 million at the end of 2021[4]. - The company's total liabilities reached RMB 1,078.30 billion, compared to RMB 973.21 billion at the end of 2021[26]. - The company's total non-current assets amounted to RMB 1,334,242 million as of March 31, 2022, slightly up from RMB 1,331,231 million at the end of 2021[42]. - The total assets minus current liabilities increased to RMB 1,284,106 million as of March 31, 2022, compared to RMB 1,247,975 million at the end of 2021[43]. Cash Flow - Cash flow from operating activities for the first quarter of 2022 was a net outflow of RMB 46,781 million, compared to a net outflow of RMB 15,188 million in the first quarter of 2021[4]. - Cash received from operating activities increased by 48.5% to RMB 55,649 million, driven by higher derivative margin receipts[10]. - The company's operating cash flow for the first quarter of 2022 was a net outflow of RMB 46,781 million, compared to a net outflow of RMB 15,188 million in the same period of 2021, representing an increase in cash outflow of 207.5%[32]. - The total cash and cash equivalents at the end of the first quarter of 2022 were RMB 82,152 million, down from RMB 99,247 million at the end of the first quarter of 2021, indicating a decrease of 17.2%[33]. Production and Sales - Oil and gas equivalent production increased by 3.7% to 121.41 million barrels in Q1 2022, with natural gas production rising by 7.7% to 3,139.4 billion cubic feet[15]. - The refining segment's EBIT increased by 15.2% to RMB 22,919 million, with crude oil processing volume at 64.19 million tons, a 2.7% increase year-on-year[16]. - The exploration and development segment reported external sales of RMB 52,455 million, up 50.7% from RMB 34,776 million in the previous year[38]. - The refining segment's external sales increased to RMB 47,758 million, a rise of 27% from RMB 37,606 million year-over-year[38]. - The marketing and distribution segment achieved external sales of RMB 370,095 million, reflecting a 32.6% increase from RMB 278,914 million in the same quarter of 2021[38]. - Total refined oil sales volume for the quarter ended March 31, 2022, was 51.02 million tons, a decrease of 1.8% year-on-year[19]. - Domestic refined oil sales volume increased to 41.06 million tons, up 2.6% compared to the same period last year[19]. Research and Development - R&D expenses for Q1 2022 were RMB 2,706 million, reflecting a 30.8% increase compared to RMB 2,069 million in Q1 2021[9]. - The company increased the proportion of high value-added products in synthetic resins, synthetic fibers, and fine chemicals by 1.6%, 6.5%, and 1.6 percentage points, respectively[19]. Comprehensive Income - The company reported a total comprehensive income of RMB 28,976 million for Q1 2022, compared to RMB 27,993 million in Q1 2021[30]. - The total comprehensive income for Q1 2022 was RMB 29,829 million, compared to RMB 28,707 million in Q1 2021, indicating a growth of 3.9%[41].