PETROCHINA(00857)2023-04-28 08:42Financial Performance - Net profit attributable to shareholders for the first quarter of 2023 was RMB 48,503 million, reflecting a 12.2% increase compared to RMB 38,898 million in the same period last year[20] - Basic earnings per share for the first quarter were RMB 0.24, an increase of 12.2% compared to RMB 0.21 in the same period last year[20] - Net profit for the first quarter of 2023 was RMB 29,145 million, compared to RMB 27,645 million in the first quarter of 2022, reflecting an increase of 5.4%[35] - The company's profit for the current period was RMB 48,503 million, representing an increase of 11.7% from RMB 43,475 million in the previous year[64] - Net profit for Q1 2023 increased to RMB 48,509 million, up 11.8% from RMB 43,474 million in Q1 2022[84] Revenue and Sales - Operating revenue for the first quarter of 2023 reached RMB 447,279 million, an increase from RMB 406,502 million in the same period of 2022, representing a growth of 10.1%[35] - Operating revenue for Q1 2023 was RMB 732,471 million, a decrease of 6.0% from RMB 779,368 million in Q1 2022[84] - The company’s external operating revenue from oil and gas and new energy was RMB 216.702 billion, an increase from RMB 209.441 billion year-on-year[42] - Total sales volume of gasoline, kerosene, and diesel was 37,575 thousand tons, representing a growth of 6.5% compared to 35,282 thousand tons in the same period of 2022[28] Assets and Liabilities - Total assets increased to RMB 2,710,874 million, a 1.5% increase from the previous year[1] - Total liabilities decreased to RMB 1,129,880 million from RMB 1,135,662 million, indicating a reduction in financial obligations[9] - The company’s equity attributable to shareholders increased by 3.1% to RMB 1,408,762 million from RMB 1,366,823 million in the previous year[1] - Total current assets as of March 31, 2023, were RMB 677,288 million, an increase of 10.4% from RMB 613,867 million as of December 31, 2022[63] Cash Flow - Operating cash flow for the first quarter reached RMB 126,382 million, a significant increase of 49.7% from RMB 84,425 million in the previous year[20] - The net cash flow generated from operating activities was RMB 126,382 million, representing a significant increase of 49.7% compared to RMB 84,425 million in the previous year[45] - The cash flow from operating activities for the three months ended March 31, 2023, was RMB 138,401 million, an increase of 50.8% compared to RMB 91,742 million for the same period in 2022[64] - The total cash inflow from operating activities was RMB 834,642 million, down 3.4% from RMB 864,133 million year-over-year[79] Production and Operations - Oil processing volume increased by 8.1% to 326.9 million barrels compared to 302.4 million barrels in the same period last year[8] - Oil production for the first quarter of 2023 was 236.3 million barrels, up 5.1% from 224.9 million barrels in the same period of 2022[25] - The total oil and gas equivalent production reached 452.0 million barrels, a 4.9% increase from 430.9 million barrels in the same quarter last year[82] - Domestic oil and gas equivalent production grew by 3.3% to 402.6 million barrels, while overseas production surged by 20.1% to 49.4 million barrels[82] Research and Development - Research and development expenses for the first quarter of 2023 amounted to RMB 5,306 million, an increase from RMB 4,208 million in the first quarter of 2022[35] - Research and development expenses for Q1 2023 were RMB 5,934 million, up 20.6% from RMB 4,918 million in Q1 2022[84] Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and drive future growth[35] - The company plans to continue optimizing production operations and product structure while enhancing market marketing efforts and controlling investment and cost expenses[48]