2023-03-26 10:08Financial Performance - The total operating revenue for 2022 was RMB 3,318,168 million, an increase of 21.06% compared to RMB 2,740,884 million in 2021[8] - The net profit attributable to shareholders of the parent company for 2022 was RMB 66,302 million, a decrease of 6.89% from RMB 71,208 million in 2021[8] - The net cash flow from operating activities for 2022 was RMB 116,269 million, down 48.36% from RMB 225,174 million in 2021[8] - The basic earnings per share for 2022 were RMB 0.548, a decrease of 6.80% from RMB 0.588 in 2021[9] - The weighted average return on equity for 2022 was 8.50%, down from 9.35% in 2021, a decrease of 0.85 percentage points[9] - The company reported a decrease in net profit after deducting non-recurring gains and losses to RMB 57,182 million, down 20.82% from RMB 72,220 million in 2021[8] - The company reported a net profit of RMB 75.6 billion for 2022, a decrease of 11.9% compared to 2021[53] - Profit attributable to shareholders was RMB 66.2 billion, a decrease of 8.1% year-on-year [60] Assets and Liabilities - The total assets as of December 31, 2022, were RMB 1,948,640 million, reflecting a 3.1% increase from RMB 1,889,255 million in 2021[8] - The total liabilities as of December 31, 2022, were RMB 1,011,487 million, an increase of 3.9% from RMB 973,214 million in 2021[8] - The total equity attributable to shareholders of the parent company was RMB 785,577 million as of December 31, 2022, a slight increase of 1.4% from RMB 775,102 million in 2021[8] Cash Flow and Investments - Cash and cash equivalents decreased to RMB 145,052 million in 2022 from RMB 221,989 million in 2021, a reduction of 34.7%[13] - The company reported a cash inflow from operating activities of RMB 269,895 million in 2022, up 70.8% from RMB 158,049 million in 2021[13] - The net cash outflow from investing activities in 2022 was RMB 95.01 billion, a decrease of RMB 50.2 billion year-on-year[84] - The net cash outflow from financing activities for 2022 was RMB 39.69 billion, a decrease of RMB 18.2 billion compared to the previous year[84] Production and Sales - The company's oil and gas equivalent production was 488.99 million barrels in 2022, a year-on-year increase of 1.9%[30] - Domestic crude oil production was 250.79 million barrels in 2022, a year-on-year increase of 0.5%[30] - The total sales volume of refined oil reached 207 million tons, with domestic sales accounting for 163 million tons[39] - The crude oil processing volume for 2022 was 242.27 million tons, down 5.1% from 255.28 million tons in 2021[38] - Total refined oil sales in 2022 were 206.74 million tons, a decrease of 6.4% compared to 2021[41] Dividends and Shareholder Returns - The company proposed a final cash dividend of RMB 0.195 per share for 2022, in addition to the interim dividend of RMB 0.16 per share[6] - The company plans to distribute a final cash dividend of RMB 0.195 per share, resulting in a total cash dividend of RMB 0.355 per share for the year, with a payout ratio of about 71%[19] Research and Development - Research and development expenses for 2022 amounted to RMB 22.51 billion, with RMB 12.77 billion being expensed and RMB 9.74 billion capitalized[86] - The company applied for 8,687 patents in 2022, receiving 6,289 patent grants[44] Environmental and Social Responsibility - The company achieved an 8.3% year-on-year reduction in COD emissions and a 4.0% decrease in sulfur dioxide emissions[177] - The company reduced greenhouse gas emissions by 2.46 million tons of CO2 equivalent during the reporting period[178] - The company invested RMB 2.11 billion in poverty alleviation and rural revitalization efforts, with a 10% increase in various support measures compared to the previous year[191] Governance and Management - Sinopec's board approved the "14th Five-Year Plan" and 2035 vision, focusing on high-quality development and value creation for stakeholders[106] - The company has established a performance evaluation and incentive mechanism for senior management, ensuring accountability and transparency[104] - The board of directors emphasized the importance of sustainable practices, committing to a 30% reduction in carbon emissions by 2025[139] Future Outlook and Plans - The company plans to invest RMB 165.8 billion in capital expenditures in 2023[21] - The company aims to produce 14 million tons of ethylene in 2023[49] - The company plans to process 250 million tons of crude oil and produce 146 million tons of refined oil in the upcoming year[49]