2023-04-28 16:00Financial Performance - For Q1 2023, the company reported operating revenue of RMB 732.47 billion, a decrease of 6.0% compared to RMB 779.37 billion in the same period last year[11]. - The net profit attributable to shareholders of the parent company was RMB 43.62 billion, an increase of 12.1% from RMB 38.90 billion year-on-year[11]. - The operating profit for the same period was RMB 62,396 million, representing an increase of 9.4% compared to RMB 57,262 million in Q1 2022[49]. - Total comprehensive income for the period was RMB 44,962 million, compared to RMB 42,459 million in the same period of 2022, representing a growth of 5.9%[45]. - The company reported a total profit of RMB 62,574 million, an increase of 10.0% from RMB 56,769 million in the same period last year[45]. Cash Flow and Liquidity - The net cash generated from operating activities reached RMB 126.38 billion, representing a significant increase of 49.7% compared to RMB 84.43 billion in the previous year[12]. - The company reported a cash balance of RMB 132.965 billion as of March 31, 2023, compared to RMB 72.308 billion at the end of 2022[21]. - Cash and cash equivalents at the end of the period were RMB 242,243 million, up from RMB 170,528 million, showing a strong liquidity position[47]. - The net cash flow from operating activities for the three months ended March 31, 2023, was RMB 106,153 million, significantly up from RMB 44,795 million in the same period of 2022, marking an increase of 137.3%[64]. Production and Sales - Crude oil production for the quarter was 236.3 million barrels, an increase of 5.1% from 224.9 million barrels in the same period last year[12]. - The crude oil processing volume for Q1 2023 was 326.9 million barrels, an increase of 8.1% compared to 302.4 million barrels in Q1 2022[15]. - The total sales of refined oil reached 37.575 million tons in Q1 2023, up 6.5% from 35.282 million tons in the same period last year[16]. - Domestic natural gas sales reached 62.392 billion cubic meters in Q1 2023, a growth of 2.9% from 60.615 billion cubic meters in Q1 2022[55]. Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 2,710.61 billion, an increase of 1.5% from RMB 2,670.75 billion at the end of the previous year[6]. - The total current assets increased to RMB 324.266 billion as of March 31, 2023, compared to RMB 267.966 billion at the end of 2022[21]. - The company's total liabilities decreased to RMB 1,580,738 million as of March 31, 2023, from RMB 1,535,100 million at the end of 2022[50]. - The total liabilities and shareholders' equity amounted to RMB 1,988,681 million, up from RMB 1,947,711 million, indicating a growth of about 2.1%[74]. Research and Development - Research and development expenses increased to RMB 5,934 million, up from RMB 4,918 million, indicating a focus on innovation and product development[45]. - The company aims to enhance the development of high-end, high-value-added products in the refining and chemical sector[36]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[48]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and drive future growth[58].