中国石化(600028) - 2025 Q1 - 季度财报

Financial Performance - For the first quarter of 2025, the operating revenue was RMB 735,356 million, a decrease of 6.9% compared to RMB 789,967 million in the same period of 2024[5] - The net profit attributable to shareholders of the parent company was RMB 13,264 million, down 27.6% from RMB 18,316 million year-on-year[5] - The basic earnings per share decreased by 28.8% to RMB 0.109 from RMB 0.153 in the previous year[5] - Net profit for Q1 2025 was RMB 14,506 million, down 32.3% from RMB 21,360 million in Q1 2024[40] - Operating profit for Q1 2025 was RMB 18,543 million, a decline of 32.1% compared to RMB 27,325 million in Q1 2024[40] - The company reported a total comprehensive income of RMB 15,527 million for Q1 2025, compared to RMB 20,552 million in Q1 2024[41] - The company reported a total comprehensive income of RMB 16,316 million for the three months ended March 31, 2025, compared to RMB 21,028 million for the same period in 2024[57] Cash Flow and Assets - The net cash flow from operating activities was RMB 8,138 million, a significant improvement from a cash outflow of RMB 13,755 million in the same period last year[5] - The company's cash and cash equivalents increased to RMB 160.58 billion as of March 31, 2025, compared to RMB 146.80 billion at the end of 2024[33] - The company's cash and cash equivalents rose to RMB 50,829 million, up 69.1% from RMB 30,024 million at the end of 2024[37] - The cash received from tax refunds decreased by 53.5% to RMB 1,164 million, down from RMB 2,503 million in the same period last year[11] - The company's cash and cash equivalents at the end of the first quarter of 2025 stood at RMB 103,341 million, an increase from RMB 110,964 million at the end of the first quarter of 2024[47] Production and Sales - The total oil and gas equivalent production reached 130.97 million barrels, a year-on-year increase of 1.7%, with natural gas production at 3,684.3 billion cubic feet, up 5.1%[19][20] - The company processed 62.13 million tons of crude oil, producing 37.19 million tons of refined products, with a year-on-year increase of 11.3% in chemical light oil production[22][24] - Total refined oil sales volume for Q1 2025 was 55.59 million tons, a decrease of 7.1% compared to Q1 2024[25] - Ethylene production reached 3,861 thousand tons in Q1 2025, representing a year-on-year increase of 17.7%[26] - The exploration and development segment reported external sales of CNY 46,041 million, a decrease of 11.5% from CNY 52,182 million in the previous year[63] - The refining segment's external sales increased to CNY 44,602 million, up 7.0% from CNY 41,422 million year-over-year[63] - The marketing and distribution segment's external sales decreased to CNY 372,249 million, down 8.8% from CNY 408,420 million in the same period last year[63] - The chemical segment reported external sales of CNY 101,094 million, an increase of 2.0% compared to CNY 98,333 million in Q1 2024[63] Expenses and Liabilities - Financial expenses rose by 69.3% to RMB 4,579 million, primarily due to increased foreign currency loan exchange losses[11] - The company incurred a loss of RMB 1.32 billion in the chemical segment during Q1 2025[25] - Total liabilities increased to RMB 703,496 million, up 4.3% from RMB 674,133 million at the end of 2024[38] - Current liabilities totaled RMB 653.47 billion as of March 31, 2025, down from RMB 673.24 billion at the end of 2024[34] Strategic Initiatives - The company increased its focus on integrated operations and regional optimization to enhance market expansion and cost control[18] - The company aims to enhance its product structure and increase the production of high-value products, including special oils and advanced carbon materials[22] - The company is actively expanding its gas station and charging station network, with a significant year-on-year increase of 116% in vehicle LNG retail volume[23] - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[46] - The company expects to improve operational efficiency and reduce costs in the upcoming quarters to enhance profitability[64] Shareholder Activities - The company repurchased 36,180,000 H shares during the reporting period, continuing its share buyback program[28] - As of April 25, 2025, the controlling shareholder, Sinopec Group, had increased its stake by acquiring 24,727,400 shares[29]