2024-03-25 16:00Financial Performance - The net profit for 2023 was RMB 161,146 million, with a dividend payout ratio of 50.0%[30]. - The company's total revenue for 2023 was 3,011,012 million RMB, a decrease of 7.0% compared to 2022's 3,239,167 million RMB[135]. - Operating profit for 2023 increased to 253,024 million RMB, up 4.3% from 242,564 million RMB in 2022[135]. - Net profit attributable to shareholders of the parent company reached RMB 161,144 million, representing an 8.3% increase from 148,738 million RMB in 2022[135]. - The gross profit margin for oil and gas and new energy was 26.7%, while refining and chemical new materials had a gross profit margin of 5.9%[22]. - The revenue from natural gas sales increased by 8.0% year-on-year, totaling RMB 554,593 million[22]. - The refining and chemical division achieved revenue of RMB 1,221.16 billion in 2023, a 4.9% increase from RMB 1,164.60 billion in the previous year[142]. - Operating profit for the refining and chemical division was RMB 36.94 billion in 2023, a decrease of 9.0% from RMB 40.57 billion[142]. - The sales division reported revenue of RMB 2,527.06 billion in 2023, an 8.8% decrease from RMB 2,771.89 billion[142]. Cash Flow and Capital Expenditure - The net cash flow from operating activities for 2023 was RMB 456,596 million, representing a 16.0% increase from RMB 393,768 million in 2022[15]. - The cash flow from investment activities for 2023 was RMB 255,789 million, an increase of 9.8% from RMB 232,971 million in the previous year[33]. - The capital expenditure for 2023 was RMB 275,338 million, a slight increase of 0.4% compared to RMB 274,307 million in 2022[4]. - The company plans to increase capital expenditure in the oil and new energy sector to RMB 213,000 million in 2024[4]. Assets and Liabilities - As of December 31, 2023, total debt amounted to RMB 314,124 million, a decrease from RMB 356,336 million in 2022, reflecting a reduction in liabilities[1]. - The total liabilities decreased by 1.2% to RMB 1,122,089 million from RMB 1,136,250 million in 2022[21]. - Current assets increased by 7.3% to RMB 658,520 million from RMB 613,867 million in the previous year[7]. - The total assets as of December 31, 2023, were RMB 2,752,710 million, up 3.1% from RMB 2,670,666 million in 2022[21]. - The net debt amounted to RMB 42.98 billion, down from RMB 131.93 billion at the end of the previous year[130]. Shareholder Information and Dividends - The company plans to distribute a final dividend of RMB 0.23 per share, amounting to approximately RMB 42.095 billion[32]. - The total number of shareholders as of December 31, 2023, is 479,245, with 473,714 being domestic A-share shareholders and 5,531 being overseas H-share shareholders[164]. - The largest shareholder, China National Petroleum Corporation, holds 82.46% of the shares, with an increase of 3,819,948,462 shares during the reporting period[166]. Corporate Governance and Compliance - The company emphasizes the importance of internal control and risk management, having established a comprehensive internal control system that effectively operates without significant deficiencies in financial reporting[186]. - The company has made significant improvements in corporate governance, aligning its operations with regulatory requirements and enhancing management standards[180]. - The company has implemented a robust information disclosure management system, ensuring timely and accurate disclosures to all shareholders[181]. Strategic Focus and Future Outlook - The company is focusing on high-quality development by enhancing oil and gas exploration and development, and promoting the increase of reserves and production[199]. - The company is implementing a green and low-carbon transition, with significant acceleration in the development of new energy and new materials[199]. - The company is committed to strengthening its environmental, social, and governance (ESG) efforts to enhance long-term sustainable development capabilities[199]. Audit and Financial Reporting - The financial reports for 2023 have been audited by PwC and Deloitte, both issuing standard unqualified audit opinions[79]. - The company has implemented strict financial reporting processes to ensure the accuracy and effectiveness of financial reports[200].