2023-10-26 16:00Financial Performance - For the three months ended September 30, 2023, the operating revenue was RMB 876,259 million, an increase of 4.2% compared to RMB 841,196 million for the same period in 2022[3]. - The net profit attributable to shareholders of the parent company for the third quarter of 2023 was RMB 17,855 million, representing a 34.0% increase from RMB 13,325 million in the same quarter of 2022[3]. - The basic earnings per share for the third quarter of 2023 was RMB 0.149, up 35.5% from RMB 0.110 in the same quarter of 2022[3]. - The net profit attributable to shareholders for the nine months ended September 30, 2023, was RMB 17,855 million, a 34.0% increase compared to the same period last year[8]. - The basic earnings per share increased by 35.5% to RMB 0.149, reflecting improved margins in the refining sector[8]. - The company reported a net profit of 21,395 million RMB for the third quarter of 2023, up from 13,335 million RMB in the same quarter of 2022, representing an increase of approximately 60%[38]. - The total comprehensive income for Q3 2023 was RMB 25,463 million, a significant increase from RMB 15,236 million in Q3 2022[27]. - The company reported a total comprehensive income of 25,580 million RMB for the third quarter of 2023, compared to 14,963 million RMB in the same quarter of 2022, representing an increase of approximately 70.9%[38]. Cash Flow and Liquidity - The net cash flow from operating activities for the nine months ended September 30, 2023, was RMB 98,309 million, a significant increase of 65.9% compared to RMB 59,244 million for the same period in 2022[5]. - Cash flow from operating activities for the nine months ended September 30, 2023, was RMB 98,309 million, up 65.9% year-on-year due to reduced inventory net usage[9]. - The net cash received from financing activities increased by 34.4% to RMB 580,906 million, reflecting a rise in borrowings to enhance liquidity[9]. - The company's cash inflow from sales of goods and services was RMB 2,618,319 million, slightly down from RMB 2,627,885 million in the previous year[29]. - The company's total cash outflow for financing activities was RMB 525,769 million, compared to RMB 411,486 million in the previous year, reflecting a rise in financing costs[30]. - The net increase in cash and cash equivalents for the first nine months of 2023 was RMB 34,292 million, compared to RMB 13,210 million in the same period of 2022, reflecting a significant increase of 160.5%[43]. Assets and Liabilities - Total assets as of September 30, 2023, reached RMB 2,084,435 million, reflecting a growth of 6.8% from RMB 1,951,121 million at the end of 2022[6]. - The total liabilities of Sinopec as of September 30, 2023, were RMB 1,130,749 million, compared to RMB 1,010,664 million at the end of 2022, reflecting an increase of approximately 11.9%[22]. - The company's total current assets reached RMB 623,986 million, up from RMB 523,140 million, indicating a year-over-year increase of about 19.2%[21]. - The company's long-term debt as of September 30, 2023, was RMB 175,160 million, compared to RMB 85,706 million in the same period of 2022, indicating a substantial increase of 104.5%[41]. - The company's total liabilities increased to RMB 437,309 million as of September 30, 2023, compared to RMB 344,194 million in the same period of 2022, marking an increase of 27.1%[41]. Investment and Capital Expenditures - Capital expenditures for the first three quarters amounted to RMB 108.164 billion, with RMB 50.711 billion allocated to exploration and development, RMB 10.524 billion to refining, RMB 5.671 billion to marketing and distribution, and RMB 39.143 billion to chemicals[18]. - The company's investment activities resulted in a net cash outflow of RMB 120,662 million, compared to RMB 69,911 million in the previous year, indicating increased investment expenditures[29]. - Investment income for the first nine months of 2023 was RMB 26,468 million, up from RMB 23,666 million in the same period of 2022[28]. Market and Operational Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[2]. - The company is actively expanding its hydrogen energy applications and enhancing its integrated energy service capabilities, transitioning towards a comprehensive energy service provider[16]. - The company is focusing on optimizing its supply chain and reducing procurement costs to maximize the efficiency of its industrial chain[15]. Production and Sales - The company achieved an oil and gas equivalent production of 376.15 million barrels in the first three quarters, a year-on-year increase of 3.6%, with natural gas production reaching 9,929.8 billion cubic feet, up 8.7% year-on-year[13]. - The refining segment processed 193.74 million tons of crude oil, a 7.6% increase year-on-year, and produced 117.52 million tons of refined oil, a 14.0% increase year-on-year[15]. - The total sales volume of refined oil reached 180.55 million tons, a year-on-year increase of 19.1%, with domestic sales volume at 142.61 million tons, up 16.9% year-on-year[16].