2022-10-28 08:52Financial Performance - Operating revenue for the nine months ended September 30, 2022, was RMB 2,453,322 million, a 22.6% increase compared to RMB 2,001,691 million for the same period in 2021[4] - Net profit attributable to shareholders of the parent company decreased by 5.6% to RMB 56,660 million for the nine months ended September 30, 2022, down from RMB 60,029 million in the previous year[4] - Basic earnings per share for the nine months ended September 30, 2022, was RMB 0.468, down 5.6% from RMB 0.496 in the same period last year[4] - The weighted average return on equity decreased by 0.61 percentage points to 7.28% for the nine months ended September 30, 2022[4] - The company reported a total comprehensive income of RMB 82,035 million for the first nine months of 2022, down from 85,432 million in the same period of 2021[42] - Net profit for the first nine months of 2022 was RMB 62,910 million, down 13.8% from RMB 72,932 million in the same period of 2021[30] - The profit for the period according to international financial reporting standards was CNY 63,700 million for the nine-month period ended September 30, 2022, compared to CNY 73,969 million in the same period of 2021[53] Cash Flow and Liquidity - The net cash flow from operating activities was RMB 59,244 million, a significant decrease of 49.3% compared to RMB 116,744 million for the same period in 2021[4] - Operating cash inflow for the nine months ended September 30, 2022, was RMB 2,847,403 million, an increase from RMB 2,222,625 million in the same period of 2021, representing a growth of approximately 28.2%[33] - The net increase in cash and cash equivalents for the nine months ended September 30, 2022, was RMB 18,008 million, compared to RMB 3,267 million in the same period of 2021, indicating a significant increase of about 450.5%[34] - The company reported cash and cash equivalents of RMB 216.73 billion as of September 30, 2022, down from RMB 221.99 billion at the end of 2021[26] - The company’s cash paid for dividends increased by 46.7%, totaling RMB 65,759 million compared to RMB 44,820 million in the previous year[12] Assets and Liabilities - Total assets increased to RMB 2,050,519 million as of September 30, 2022, representing an 8.5% increase from RMB 1,889,255 million at the end of 2021[4] - Total liabilities amounted to RMB 1,124.98 billion as of September 30, 2022, compared to RMB 973.21 billion at the end of 2021[27] - Shareholders' equity totaled RMB 925.54 billion as of September 30, 2022, slightly up from RMB 916.04 billion at the end of 2021[27] - Total current assets amounted to RMB 677.40 billion, an increase from RMB 558.02 billion as of December 31, 2021[26] - Total non-current assets reached RMB 1,373.12 billion as of September 30, 2022, compared to RMB 1,331.23 billion at the end of 2021[26] Operational Highlights - The company’s oil and gas equivalent production reached 363.18 million barrels, an increase of 2.3% year-on-year, with crude oil production at 210.82 million barrels, up 1.0%[16] - The refining segment processed 180.07 million tons of crude oil, a decrease of 5.6% year-on-year, while the total refined oil output was 103.07 million tons, down 5.1%[18] - The marketing and distribution segment reported a pre-tax profit of RMB 23.15 billion, with total refined oil sales volume at 151.60 million tons, a decrease of 9.0% year-on-year[19] - The company achieved a natural gas production of 9,138 billion cubic feet, reflecting a year-on-year increase of 4.1%[16] - The company is actively expanding its low-sulfur marine fuel market, further solidifying its market position[19] Investments and Expenditures - Capital expenditures for the first three quarters totaled RMB 104 billion, with RMB 51.6 billion allocated to exploration and development, primarily for oil and gas capacity construction[21] - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[30] - The company reported a significant increase in derivative financial assets, rising by 138.2% to RMB 43,768 million as of September 30, 2022, from RMB 18,371 million at the end of 2021[8] Shareholder Information - The total number of shareholders as of the report date was 479,394, with the top ten shareholders holding significant stakes, including China Petroleum & Chemical Corporation with 68.31%[13] - The company authorized the repurchase of up to 10% of its issued A-shares and H-shares as approved in the first H-share shareholders' meeting of 2022[23] - As of September 30, 2022, the company had repurchased 48 million A-shares, accounting for 0.04% of the total issued shares, with a total payment of approximately RMB 203.91 million[23] - The company also repurchased 54.41 million H-shares, representing about 0.04% of the total issued shares, with a total payment of approximately HKD 188.78 million[23]